1,720,984 research outputs found
Le particolari esigenze di Accountability delle società pubbliche
No full textIn the last decades, it has been a common habit of Italian Central and
Local Governments to set limited companies to produce public services, such as
for example public transportation, or even just to produce services instrumental
to their own functioning such as data processing, maintenance and the like. As
they are mostly funded through public funds and pursue public purposes, they
often present a public-style accountability. Nonetheless, since they have been
incorporated under private sector regulation, in a bizarre prevalence of form, they
generally just have to comply with private sector reporting requirements.This
significantly impairs the effectiveness of their financial reporting system and limits
the control ability of the relevant public authorities. The study advocates a sound
change in Italian SOE reporting model and highlights a first set of minor possible
amendments to the current financial reporting model
I rapporti tra "valore di mercato" e "ricavato in caso di liquidazione" nella relazione giurata ex art. 160, comma 2, l.f
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La soddisfazione parziale dei creditori muniti di privilegio nelle procedure di composizione della crisi da sovraindebitamento. I rapporti tra “valore di mercato” e “ricavato in caso di liquidazione”
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Silicon Valley Bank bankruptcy and Stablecoins stability
Full text linkTo what extent does the collapse of a commercial bank spread contagion across cryptocurrency markets? How do markets behave around bankruptcy if digital assets remain stuck within the bank and cannot be withdrawn? We use a BEKK model to examine contagion effects across major digital assets during the Silicon Valley Bank (SVB) collapse period in early March 2023. We find evidence of contagion across major stablecoins and Bitcoin. We also examine the price action when nearly all withdrawals at SVB were prohibited. We find substantial abnormal movements in stablecoin cumulative returns and traded volumes, indicating a 'flight to safety' from less to more authoritative and trusted stablecoins. The implications for practitioners and policymakers are discussed
Local elections and the quality of financial statements in municipally owned entities: A Benford analysis
Full text linkBenford's Law has been widely used in the literature to assess data quality and reliability. This paper examines the impact of local elections on financial reporting quality in entities controlled by local governments using a data science approach. By applying Benford’s Law on financial statements published by Italian municipally owned entities operating in utility industries, we find diffuse data anomalies around election seasons. This does not automatically means that illegal manipulation or fraud are widespread in those periods, but it implies that (i) auditors need to pay particular attention to the quality of accounting data in those crucial periods and specific environments; and that (ii) voters and media have to be critical in assuming municipally owned entities' indicators of financial performance as proxies of the administrative efficiency of incumbent politicians
Cash to accrual accounting: does it mean more control for the public sector? The case of revenue from non-exchange transactions”
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