Origin of the Immirzi Parameter
  Using quadratic spinor techniques we demonstrate that the Immirzi parameter can be expressed as ratio between scalar and pseudo-scalar contributions in the theory and can be interpreted as a measure of how Einstein gravity differs from a generally constructed covariant theory for gravity. This interpretation is independent of how gravity is quantized. One of the important advantage of deriving the Immirzi parameter using the quadratic spinor techniques is to allow the introduction of renormalization scale associated with the Immirzi parameter through the expectation value of the spinor field upon quantization. 
Chung-Hsien Chou, Roh-Suan Tung, and Hoi-Lai Yu