1,720,997 research outputs found
I minibond alternativa al credito e finanza per lo sviluppo
Full text linkI minibond rappresentano all’interno del panorama finanziario italiano uno strumento innovativo caratterizzato dalla possibilità per le piccole e medie imprese di far ricorso, per i propri progetti d’investimento, al mercato del capitale di debito.
Questo strumento sta riscuotendo un modesto successo nel contrastare il cosiddetto “bancocentrismo” del sistema finanziario italiano. Il presente elaborato si propone di analizzare in maniera approfondita l’intera genesi e validità dello strumento finanziario in esame, dal percorso teorico, attraverso la letteratura di riferimento, fino al mercato potenziale degli emittenti.
Nel primo capitolo analizzeremo la letteratura di riferimento dalle teorie sulla struttura finanziaria ottimale al livello d’indebitamento ideale.
Nel secondo capitolo passeremo in rassegna il contesto economico italiano che dalla crisi del 2008, passando attraverso quella dei debiti sovrani del 2011, ha visto mutare radicalmente le dinamiche del credito a causa degli elevati tassi di non performing loans, presenti nei bilanci bancari, e delle prospettive economiche di recessione.
Nel terzo capitolo svolgeremo l’analisi dello strumento in maniera approfondita e puntuale attraverso l’analisi delle emissioni effettuate finora, le loro caratteristiche, l’analisi degli investitori e dei fondi di private debt.
Nel quarto analizzeremo la possibilità per la struttura proprietaria e manageriale delle imprese italiane di creare una nuova prospettiva di visione della propria azienda, affiancando ai rating ufficiali forniti dalle società di rating un nuovo giudizio interno alla realtà aziendale con l’obiettivo di rendere l’azienda intellegibile e trasparente verso l’esterno.
Con il supporto di una società di rating nazionale abbiamo selezionato, attraverso stringenti criteri di analisi sui bilanci depositati al 2015, un database d’imprese potenziali emittenti di minibond. Da queste imprese dovrebbe iniziare la svolta del tessuto produttivo italiano e il passaggio concreto da un sistema bancocentrico verso l’orizzonte del mercato dei capitali.The small-size bond, or minibond, is an innovative instrument In the Italian financial world. This instrument allows small and medium companies to tap the debt markets and, thus, bypass the traditional banking channel. The evidence suggests that the minibond has enjoyed modest success so far The potential for future growth looks promising.
The thesis, organized in four chapters, discusses the genesis of the minibond, its development, its theoretical underpinnings, its acceptance by market participants and expected future growth. I start, in the first chapter, with the literature on optimal financial structure. Then I move, in the second chapter, to a discussion of the profound changes that have occurred in the bank credit market since 2008, first with the subprime financial crisis and then with the sovereign debt crisis. In particular, I underscore to what extent this market has been clogged as a result of the extraordinary rates of non-performing loans. In the third chapter, I go into a detailed analysis of the minibond, from its properties to incentives for issuing it by small and medium size firms to funding opportunities in the debt market. In the last chapter, I look at the future: the potential for non-financial corporate management to add a new dimension to the traditional business practice; namely, accepting and facilitating the spread of credit ratings with the objective of rendering the business practice intelligible and transparent to the outside. It is this shift in corporate culture that will be critical in assuring a wider acceptance of the minibond and create, as a result, a more balanced mix of bank credit and debt markets in the Italian financial world
La Triiodo-L-tironina stimola il trasporto di glucosio nelle cellule di Sertoli di ratto
No full textEspressione e localizzazione degli RNAm per il recettore degli ormoni tiroidei nel testicolo di ratto
No full text
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
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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