311 research outputs found
La cooperación en Defensa en la UNASUR: logros, debilidades y desafíos
No full textDocumento de trabajo N ̊30Fil: Tibiletti, LuisMartínez, P.; Tibiletti, L. (2015) La cooperación en Defensa en la UNASUR: logros, debilidades y desafíos. Recuperado de: http://www.cefadigital.edu.ar/handle/1847939/151
The Macaulay duration: a key indicator for the risk-adjustment in fair value
No full textInternational Financial Reporting Standards (IFRS) 13 Fair Value Measurement lays down two methods to adjust Expected Present Value (EPV) for risk. According to Method 1, expected cash inflows should be risk-adjusted by subtracting a risk-premium and discounted at the market risk-free rate, see (IFRS 13, B25). In contrast according to Method 2, expected cash inflows should be discounted at the risk-free rate augmented by a risk-premium addendum, see (IFRS 13, B26). Standard IFRS 13, B29 leaves the freedom to choose between the two methods. The aim of this note is to identify the relationship between the Risk-Adjusted EPVs rolled out from Method 1 and Method 2. First we introduce a theoretical solution to risk-adjustments compliant with the Standard IFRS 13, B29. Then, we set up a user-oriented proxy to connect the risk-premium present in Method 1 with the risk-adjusted rate present in Method 2. This proxy spots light on the key role played by the Macaulay Duration of expected inflows, rather than that of the lifetime of the project. As a consequence, projects expiring at the same redemption date and endowed with the same EPV and/or the same total inflow may differ considerably in risk-adjustments, due to different Macaulay Durations. A user-oriented method to properly to fast evaluate risk-adjustments for multi-cash inflow projects is provided. Sensitivity analysis of the impact of the Macaulay Duration on Risk-Adjusted EPV is also rolled out through numerical examples
The value of microsatellite instability in the detection of HNPCC families and sporadic colorectal cancers with special biological features:an investigation on a series of 100 consecutive cases
No full textL’autovalutazione del board nelle societa’ quotate. Riflessioni di sintesi nel contesto nazionale
No full textPrenatal diagnosis of an extranumerary i(22p) with normal phenotype
No full textA DA-Dapi and AgNOR-negative extranumerary chromosome was identified prenatally in a male fetus and also found in his normal father. Fluorescence in situ hybridization using repetitive DNA probes showed that the minute marker was positive at both ends for beta-satellite sequences, while its centromere was recognized by a 22 alphoid probe. It is concluded that the non-mosaic familial marker represents a 22p isochromosome
Bid and ask prices tailored to traders' risk aversion and gain propension: a normative approach
No full textRisky asset bid and ask prices “tailored” to the risk-aversion and the gain-propension of the traders are set up. They are calculated through the principle of the Extended Gini premium, a standard method used in non-life insurance. Explicit formulae for the most common stochastic distributions of risky returns, are calculated. Sufficient and necessary conditions for successful trading are also discussed
The effects of covid-19 on financial statements: Some insights from italy through an international literature review
No full textThe uncertainty generated by the Covid-19 pandemic has influenced countless aspects of business management. In order to deal with the pandemic, managers had to make particularly complex choices regarding, for example, the cash management activities, investment decisions and workplace safety procedures. At the same time, the instability related to the performance and solvency of companies has made it necessary for companies to have adequate information disclosure, even more than that in the past. The Covid-19 pandemic has in fact increased the need for an effective communication about the main corporate events with all corporate stakeholders. Based on this premise, this study aims to highlight the main scientific contributions regarding the impact that the Covid-19 pandemic has had on accounting and on corporate financial reports. The analysis carried out led to the identification of five thematic areas: Policy, Corporate Social Responsibility, Disclosure, Financial Statements Data and Audit. Moreover, considering the importance of providing adequate disclosure in a period of great uncertainty, this paper proposes an analysis on the disclosure about the Covid-19 pandemic provided by the companies belonging to the FTSE MIB index of the Italian Stock Exchange. Following a preliminary quantitative analysis of the performance of these companies, a content analysis was carried out on the financial statements and the main documents attached to it, in order to verify the presence of references to the Covid-19 pandemic. It will be shown that the companies analyzed have made adequate disclosure of information regarding the emergency situation arising from the pandemic
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