1,720,992 research outputs found
Il diritto di recesso nelle società di capitali alla luce della novella legislativa. Alcune considerazioni civilistiche, economiche e contabili
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La creazione di valore e i bisogni degli stakeholder: un percorso strategico comune di realizzazione degli obiettivi
No full textIl leasing finanziario. Alcune considerazioni civilistiche, contabili e fiscali
No full textQUADERNO DEL DIPARTIMENTO DI SCIENZE ECONOMICO-AZIENDALI, GIURIDICHE, MERCEOLOGICHE E GEOGRAFICHE, UNIVERSITA' DEGLI STUDI DI FOGGI
Il principio della prevalenza della sostanza sulla forma. Origine, evoluzione e prospettive
No full textTESI DI DOTTORAT
The impact of Capital Subsidies on enterprises of Manfredonia, Mattinata and Monte Sant’Angelo’s Area Contract
No full textWhat are political leaders' environmental intentions? The impact of social identification processes and macro-economic conditions
No full textEvidence of continued environmental degradation has led to a questioning of the traditional vision of unlimited economic growth in favour of sustainable development. Although several explicit environmental strategies were designed at the supranational level, the pursuit of environmental sustainability remains an aim driven by political concerns at the country level. This study aims to investigate the role of both “internal” (cognitive and motivational factors) and “external” (social forces and macro-economic conditions) contexts in influencing the propensity of political leaders regarding environmental matters. The findings indicate that cognitive and motivational factors tend to shape the environmental intentions of political leaders, whereas the “external” context does not have a significant impact. Our results suggest that the political leaders' propensity for addressing environmental matters is largely affected by the desire of leaders to establish or confirm an individual status (through political processes) or to conform to group norms. However, younger political leaders demonstrate a higher environmental propensity than do older leaders
Theoretical foundation of IC disclosure strategies in high-tech industries
No full textThe purpose of this article is to examine the Intellectual Capital (IC) disclosure strategies of high-tech companies under different theoretical perspectives (agency, signalling and proprietary costs theories). According to the agency theory, the failure of traditional financial statements to report the 'soft assets' would lead knowledge-intensive firms (where the components of IC are structurally higher) to provide a higher level of disclosure in order to reduce the greater information asymmetries with external firm agents. However, because of the highly proprietary nature of IC information (proprietary costs theory) as well as the relevance of IC information to externally signal the key sources of superior quality of a company (signalling theory), different IC disclosure strategies may be adopted by managers of intellectual-capital-rich firms, depending on the particular motivations associated with firm-specific characteristics of these companies. Therefore, this study aims to better understand which theoretical framework under examination (if any) is best at interpreting the observed IC disclosure policies of high-tech companies. To this end, we deduce, and test, a set of hypotheses in accordance with the theoretical frameworks considered. The study also takes into account the effects of changes in the governmental regulation concerning non-financial information that occurred during the period examined. The empirical analysis is conducted on all Italian high-tech listed companies and based on longitudinal data (of 5 years: 2007-2011). By using longitudinal data and the population of all of the high-tech Italian companies, the analysis overcomes the well-known limitations of the sampling and the cross-sectional data that provide snapshot results. The findings reveal that the companies' disclosure strategy primarily depends on the specific category of the IC information. In particular, the results suggest that the proprietary costs theory prevails in explaining the companies' disclosure behaviour on internal IC information. The signalling theory prevails in the explanation of the communication strategies about external IC most likely to enhance investors' confidence in the intangible key value drivers relating to relational capital. Finally, for companies examined, higher levels of ownership diffusion represent the primary incentive to disclose human capital information to reduce agency/monitoring costs (in presence of higher leverage) or signal to the market the superior quality (in presence of higher profitability). This article extends the existing empirical literature on IC disclosure behaviour in high-tech industries by analysing the disclosure strategies of high-tech companies under different theoretical perspectives including proprietary cost theory. In addition, the comprehensive regression model (with specific two-way interaction terms) used in this study expands on the extant approaches for the analysis of IC disclosure determinants allowing to capture some aspects that could be omitted when only the explanation variables taken separately are considered. This study has practical implications for various parties, such as regulators. It provides empirical evidence for the primary limits (relating to the proprietary costs) to an introduction of mandatory law requirements regarding the information on internal structure of IC. In particular, our findings prove that companies exposed to the threat of competitive disadvantages prefer not to provide - by formal channels, such as annual reports - additional internal IC information
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