1,720,964 research outputs found
Al passo con le Fintech
No full textLe Fintech, o Financial Technology, competono sui servizi finanziari offerti dalle banche, sfruttando le nuove leve tecnologiche e proponendo business model innovativi. Al momento, si focalizzano principalmente sui servizi di front office legati al concetto di customer experience. La parola d’ordine per il successo delle Fintech è disintermediazione, cioè la riduzione del numero di intermediari e di passaggi necessari alla realizzazione di ogni operazione. Nell’ambito del lending, le Fintech rendono possibili non solo nuove forme di prestiti peer-to-peer, ma anche l’accesso a strumenti di equity, con l’equity crowdfunding. Nell’ambito del payment, mettono a frutto le potenzialità delle nuove tecnologie per consentire forme di pagamento in tempo reale. Nell’ambito dell’asset management, ricorrono alla rete per offrire ai clienti portafogli di investimento personalizzati sulla base di algoritmi
Corporate Distress and Supervisory Blacklisting: The Italian Case
No full textThe paper focuses on two control instruments created by the Italian Companies and
Exchange Commission (CONSOB), the Blacklist and the Grey-list, to monitor the
going-concern perspectives of listed Italian companies in distress situations. The
study analyzes the determinants underlying the probability to enter the lists, the main
characteristics of the firms included in the lists, particularly referring to the Altman’s
Z-Score ratios, and the characteristics, which favor the likelihood of exiting the lists.
Through the use of logistic and OLS models, the research demonstrates that the
entering, the stay, and the exiting of the companies from the Consob lists can be
accurately predicted by the indicators of the Z-Score and the most relevant
profitability ratios. This is an innovative analysis of the determinants that affect the
relationship between the Consob and the companies listed in the Italian Stock
Exchange. In particular, it could generate useful knowledge for the companies
evaluating an IPO on the Italian market or already listed and contribute to creating
awareness of the parameters affecting the going concern evaluation by the authority
Features and determinants of risk in investment choices by private equity funds
No full textIn this paper we propose a measure of riskiness of PE assets alternative to the CAPM derived beta coefficient usually suggested in the literature on performance of PE Funds. We assume that at any given point in time there exist alternative investment opportunities that can be classified into a limited number of types, and that Funds manage their Portfolio “optimally”, within the range of investments allowed by their Placement Memorandum. We first estimate a discrete choice model of the Fund Managers’ investment decisions by type of PE investment, as a function of the observed characteristics of the Fund, of the Deal and of the Portfolio Company, as well as of the year when the deal is closed. Given the chosen type of investment, we then estimate the probability of negative returns of each deal in each investment class. These predicted probabilities together with the historical expected shortfalls by investment type, yield the Expected Loss by deal, the measure of pure risk we propose in this paper. We find that it is possible to identify the idiosyncratic features of each investment type and that the patterns and degrees of riskiness differ quite significantly among them
I modelli di business dell'economia circolare
No full textThe issue of environment and sustainability of the eco-system is a topical matter also within supranational institutions, especially in the last decades. The expression “circular economy” refers to the science based on waste reduction, to be carried out by reusing materials in subsequent production cycles, able to determine a widespread and durable sustainability whose realization is unavoidably based on a correct and renewed waste
management. Five main models to implement the production activity, compatible with the achievement of survival and sustainability objectives have been identified: circular supply chain; extension of life cycle of products; sharing; transformation of goods into services; recovery and recycling. The model of circular economy can be an effective and sustainable answer both to needs of nature and economic world, which can implement productive techniques eventually compatible with the ecosystem
Much ado about something else: Donald Trump, the US stock market, and the public interest ethics of social media communication.
No full textFunding new space companies in equity markets: assessing the risk and uncertainty of newly listed public companies
No full textThis article applies the techniques of risk assessment to the space sector through the analysis of the compared risk and return features for publicly listed space-related businesses primarily in the United States. The goal of this study is to analyze the volatility embedded in the stock offerings to understand the potential returns and compare volatility with the comparative risk characterizing other benchmark portfolio companies. This study is particularly interesting for understanding risk from the perspective of the enterprises themselves. High volatility shown by stock prices is relevant information not only for the investors but also for the feasibility of creating effective development strategies by the companies. The possible misalignment between the trend of stock prices and the value of equity creates useful hypotheses that the financial markets are not yet ready to host the securities issues by many companies in the space sector or that the companies themselves are not yet prepared to meet the expectations expressed by the markets
sj-docx-1-job-10.1177_23294884231156903 – Supplemental material for Commentary—Much ado About Something Else. Donald Trump, the US Stock Market, and the Public Interest Ethics of Social Media Communication
Full text linkSupplemental material, sj-docx-1-job-10.1177_23294884231156903 for Commentary—Much ado About Something Else. Donald Trump, the US Stock Market, and the Public Interest Ethics of Social Media Communication by Leonella Gori, Pier Luigi Sacco, Emanuele Teti and Francesca Triveri in International Journal of Business Communication</p
Da DAF a CFO: perché la funzione AFC assume carattere di indirizzo strategico anche nell'impresa italiana
No full text2006/2007La tesi sviluppa il tema dell’evoluzione della professionalità amministrativo-finanziaria nel nostro Paese, alla luce delle nuove esigenze emerse nel mondo imprenditoriale e nel sistema produttivo italiano.
Una breve prospettiva storica introduce l’argomento, corredata da una review bibliografica della letteratura finanziaria sull’argomento.
• Segue una disamina dell’evoluzione, anche normativa, in Italia e nei Paesi anglosassoni in tema di competenze e attività richieste a chi opera nell’area finanziaria con riferimenti alla nuova legge sul risparmio, al Sarbanes Oxley Act e a Basilea 2.
• La tesi esplicita i risultati di una survey presso esponenti di spicco dell’area finanziaria in aziende domestiche di grande dimensione, per lo più quotate. Il tema trattato è rilevante anche alla luce dei più di trenta workshop organizzati nel solo 2007 in Italia aventi ad oggetto tali studi, con la partecipazione di personalità di rilievo del mondo sia accademico sia professionale.XX Ciclo197
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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