1,721,042 research outputs found
FINANCE FOR S.R.L. - START UP DELL'UNIVERSITA' LA SAPIENZA DI ROMA E SPIN OFF ACCADEMICO DELL'UNIVERSITA' DI CASSINO E DEL LAZIO MERIDIONALE
No full textLA SOCIETA' HA PER OGGETTO: ANALISI E VALUTAZIONI FINANZIARIE; VALORIZZAZIONE DEI RISULTATI DI STUDI E RICERCHE CONDOTTE PRINCIPALMENTE IN TEMA DI STIMA E ANALISI DEL VALORE ECONOMICO DEL CAPITALE INVESTITO NELLE IMPRESE NONCHE' ALLO SVILUPPO DI NUOVI PRODOTTI NELL AMBITO DELLA FINANZA AZIENDALE; VALORIZZAZIONE ED USO DI APPLICAZIONI SOFTWARE BASATE SU ALGORITMI PROPRI ED ELABORATI DAI RICERCATORI PARTECIPANTI AL CAPITALE DELLO START-UP, COERENTI CON IL CORPUS TEORICO DELLA FINANZA AZIENDALE
Value creation and contestability: findings from italian market
Full text linkAbstract The idea of this research starts from the debate about the efficiency of the Italian capital market. In an increasingly globalized context, where Italian companies have to compete not only among themselves but also with foreign forces, the inefficiency of the capital market could be a fundamental discriminant. This paper aims to analyze the contestability in the Italian market. As it is known, it has some peculiarities. If compared with the other market, the Italian one is strongly characterized by the presence of small and medium-sized enterprises (SME), most of them family-run. In the Italian listed companies the entrepreneur and the manager are the same person, often chosen in the same family that exercises control. So the Italian market has a low contestability. Furthermore, the analysis conducted allows determining the existence of a relationship between value creation and contestability
The relevance of financial structure in WACC’s determination
Full text linkThis paper aims to demonstrate the importance of financial structure in determination of cost of capital. The
research idea starts from the observation that in the literature there isn’t a shared opinion on the identification of
the financial structure, in particular on the weights to estimate cost of capital. Our model suggests the use of
different average financial structures or different best financial structures considering the companies objectives
and their sector. This model is based on data of companies listed in the European markets, but it can be also used
to determine the weights of cost of capital in unlisted companies
Accounting Beta: Which Measure Is the Best? Findings from Italian Market
No full textThe estimation of cost of equity represents one of the themes more debated. In fact cost of equity is often used in evaluation reports and so It is necessary to employ fair cost of equity. However in literature there is a lack about models addressed to unlisted companies, while methods thought for listed companies are largely studied. So the aim of this research is to focus attention on the accounting beta, a model that can be used also for unlisted companies. After a literature review we have conduct an empirical analysis on Italian market to check the stability of accounting beta respect to CAPM beta. Furthermore a second level of analysis has been carried forward in order to identify which accounting measure is preferable to use
Do M&As Generate Value for Shareholders?An Analysis of the Italian Banking Sector
No full textThe aim of this paper is to verify if the M&As implemented in the past decade in the banking sector have created value for shareholders. For this purpose a sample of 72 deals carried out during the period of 1994-2005 were examined using the “event study” methodology. These deals were subdivided into three sections: acquisitions, mergers and M&As. The results obtained seem to suggest a creation of value for the target companies and a destruction of value for the bidders in all three cases. From the analysis of the combined values, on the other hand, a significant destruction of value is deduced in both mergers and in M&As
Il METIM e le esperienze dei mercati mobiliari per le piccole e medie imprese. Casa Rirea Editrice. Anno XCVII. N. 7-8
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