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A proposal of a new approach to financial supervision after the 2007-2008 financial crisis
No full textThe 2007-2008 financial crisis: selective cross-sector bailouts and the need of a new regulatory and supervisory approach (subprime crisis). Systemic risk: traditional views and a new perspective. Supervision of Systemically Relevant financial Institutions.The 2007-2008 financial crisis: selective cross-sector bailouts and the need of a new regulatory and supervisory approach (subprime crisis). Systemic risk: traditional views and a new perspective. Supervision of Systemically Relevant financial Institutions.LUISS PhD Thesi
Il Tribunale Arbitrale dello Sport
No full textLa giustizia e l'arbitrato sportivo. Arbitrato sportivo e diritto dell'arbitrato. Le procedure arbitrali dinanzi al TAS. La Lex Sportiva e i principi generali di diritto sportivo.La giustizia e l'arbitrato sportivo. Arbitrato sportivo e diritto dell'arbitrato. Le procedure arbitrali dinanzi al TAS. La Lex Sportiva e i principi generali di diritto sportivo.LUISS PhD Thesi
L'efficacia della formazione ICT-based nello sviluppo delle competenze manageriali: evidenze da un caso aziendale
No full textFormazione e competenze manageriali. Tecnologia e formazione: l'e-learning per la formazione manageriale. L'analisi empirica: il caso WIND Telecomunicazioni SpA.Formazione e competenze manageriali. Tecnologia e formazione: l'e-learning per la formazione manageriale. L'analisi empirica: il caso WIND Telecomunicazioni SpA.LUISS PhD Thesi
Social brokers: looking for new players to support both e-services and e-participation
No full textThe role of ontology in social research. Technology and information technology through the lenses of a cognitive approach and a phenomenological approach. Social brokers: players for mediating participation in political and institutional systems. The role of social brokers in three Italian public bodies. Participation: what is it?. E-participation: the Partecipa.net case.The role of ontology in social research. Technology and information technology through the lenses of a cognitive approach and a phenomenological approach. Social brokers: players for mediating participation in political and institutional systems. The role of social brokers in three Italian public bodies. Participation: what is it?. E-participation: the Partecipa.net case.LUISS PhD Thesi
Humanitarian Intervention and Responsibility to Protect
No full textThe evolution of the idea of the Responsibility to Protect from its introduction in the ICISS Report in 2001 to the Secretary General’s Report on Implementing the Responsibility to Protect, issued in 2009. A reconsideration of the traditional concept of sovereignty in the light of the principle of the Responsibility to Protect. The institutionalization of the Responsibility to Protect principle within the context of the United Nations' Institutional Reform. The increasingly significant role of regional organizations: pro and cons of regionalism. A comparison between two concrete and contemporary cases: the implementation of the Responsibility to Protect in the Darfur region of the Sudan and in Kosovo.The evolution of the idea of the Responsibility to Protect from its introduction in the ICISS Report in 2001 to the Secretary General’s Report on Implementing the Responsibility to Protect, issued in 2009. A reconsideration of the traditional concept of sovereignty in the light of the principle of the Responsibility to Protect. The institutionalization of the Responsibility to Protect principle within the context of the United Nations' Institutional Reform. The increasingly significant role of regional organizations: pro and cons of regionalism. A comparison between two concrete and contemporary cases: the implementation of the Responsibility to Protect in the Darfur region of the Sudan and in Kosovo.LUISS PhD Thesi
The Light and The Desert: Toward a Diasporich Peace Theory.
No full textUnderstanding culture. Relating to the other. We vs Them: media and the other. Looking back to move forward. Shaping the world citizen: defending freedom through education.Understanding culture. Relating to the other. We vs Them: media and the other. Looking back to move forward. Shaping the world citizen: defending freedom through education.LUISS PhD Thesi
The Value Relevance of Intangible Assets and the Mandatory Adoption of IFRS
No full textUsing a sample of Italian publicly traded firms in the period of 1996-2006, we analyze whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets. Prior literature has claimed that IFRS adoption should improve the quality of accounting information and reduce information asymmetries. We find a statistically significant decrease in the value relevance of intangible assets, and in particular of goodwill, after the IFRS adoption. In contrast, in the Italian setting investors’ evaluation of R&D expenditures seems not to be value relevant under either accounting standards.Using a sample of Italian publicly traded firms in the period of 1996-2006, we analyze whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets. Prior literature has claimed that IFRS adoption should improve the quality of accounting information and reduce information asymmetries. We find a statistically significant decrease in the value relevance of intangible assets, and in particular of goodwill, after the IFRS adoption. In contrast, in the Italian setting investors’ evaluation of R&D expenditures seems not to be value relevant under either accounting standards.Non-Refereed Working Papers / of national relevance onl
The Evolution of Paper Money
No full textThis paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility of issuing inconvertible notes and shows that while they further reduce the cost of borrowing they also have adverse effects on the stability of the banking system. As a result, governments often intervened, either outlawing the issuance of such notes, or monopolizing them for themselves by issuing fiat money. The paper examines the process of creation of paper money, but also sheds light on more general issues, like the relation between money and financial intermediation.This paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility of issuing inconvertible notes and shows that while they further reduce the cost of borrowing they also have adverse effects on the stability of the banking system. As a result, governments often intervened, either outlawing the issuance of such notes, or monopolizing them for themselves by issuing fiat money. The paper examines the process of creation of paper money, but also sheds light on more general issues, like the relation between money and financial intermediation.Non-Refereed Working Papers / of national relevance onl
Cyclicality of Fiscal Policy: Permanent and Transitory Shocks
No full textThis paper examines the optimal reaction of fiscal policy to permanent and transitory shocks to output in a model of tax and public consumption smoothing. The model predicts that optimal reaction of public expenditures and deficits to transitory shocks should be counter cyclical, while optimal reaction to permanent shocks should be a-cyclical. Using the Blanchard and Quah (1989) methodology for identifying permanent and transitory shocks, we test these predictions for a sample of 22 OECD countries over the years 1963-2006. We find that both expenditures and deficits are counter cyclical to transitory shocks, mainly through public transfers and mainly in recessions. We find that government investment is pro-cyclical with respect to permanent shocks, but total expenditures are not.This paper examines the optimal reaction of fiscal policy to permanent and transitory shocks to output in a model of tax and public consumption smoothing. The model predicts that optimal reaction of public expenditures and deficits to transitory shocks should be counter cyclical, while optimal reaction to permanent shocks should be a-cyclical. Using the Blanchard and Quah (1989) methodology for identifying permanent and transitory shocks, we test these predictions for a sample of 22 OECD countries over the years 1963-2006. We find that both expenditures and deficits are counter cyclical to transitory shocks, mainly through public transfers and mainly in recessions. We find that government investment is pro-cyclical with respect to permanent shocks, but total expenditures are not.Invited Submission
