1,721,175 research outputs found
L’Ammortamento dei beni gratuitamente devolvibili costruiti in economia o mediante appalto a terzi
No full textPlayers’ registration rights in the financial statements of the leading Italian clubs. A survey of Inter, Juventus, Lazio, Milan and Roma
No full textAbstract
Purpose: This study examines the influence of the gamut of changes that have taken place in the past fifteen years in the
world of international football that have permanently transformed football from a game into a real business, whilst also
considering some specific events that have affected Italian football in terms of the valuation of players’
registration rights in the financial statements of the leading Italian football clubs throughout the period
1996-2009.
Design/methodology/approach: The research was conducted taking into account the leading Italian clubs.
The clubs considered were those that, in the period examined, qualified at least five times for a place in the
Italian Serie A championship which is instrumental to their direct participation, or through the qualifying round, in the Champions League.
Findings: The research shows that questionable window dressing policies, consisting in artificially overestimated values of
players’ registration rights, aggravated the Italian football crisis that exploded during the 2001/2002 season. However, the
origins of this crisis must be ascribed to the inability of Italian teams to control players' wages.
Research limitations/implications: The study concerns only the leading clubs and examines the value of players’
registration rights as an aggregate, as it is was not always possible to extrapolate from financial statements the values
attributed to individual players.
Originality/value: The Italian legal system, unlike others, establishes for corporations, the obligation to recapitalize if losses
exceed a certain level. Based on this particular regulation, this research, suggesting a different interpretation of events,
identifies the window dressing policies implemented by Italian football clubs during the period in question as behavior
designed to evade the obligation to cover losses, and highlights the real purpose of the exceptional measures undertaken by
the Italian legislator to save the entire industry
The XMM-Newton long look of NGC 1365: uncovering of the obscured X-ray source
No full textWe present an analysis of the extreme obscuration variability observed during an XMM–Newton 5-d continuous monitoring of the active galactic nuclei (AGN) in NGC 1365. The source was in a reflection-dominated state in the first ∼1.5 d, then a strong increase in the 7–10 keV emission was observed in ∼10 h, followed by a symmetric decrease. The spectral analysis of the different states clearly shows that this variation is due to an uncovering of the X-ray source. From this observation, we estimate a size of the X-ray source DS < 1013 cm, a distance of the obscuring clouds R∼ 1016 cm and a density n∼ 1011 cm−3. These values suggest that the X-ray absorption/reflection originates from the broad-line region clouds. This is also supported by the resolved width of the iron narrow Kα emission line, consistent with the width of the broad Hβ line
Managing IC in an opera house: the case of La Scala
No full textIn this paper we refer to IC as the dynamic and firm-specific system of intangible resources and activities based on knowledge, which, interacting with tangible resources, is able to generate competitive sustainable advantages, at the basis of the firm’s performance variations. We strongly believe that IC can provide a conceptual framework for managing Non-Profit Organizations (NPO), as their main inputs and outputs are intangible in nature. Inside the No – Profit area, extremely diversified sector, are traditionally included the cultural companies. These realities are themselves characterized by a great variety of typologies: museums, theatres, record labels, television companies, radio stations etc. In particular, validating the articulation of IC into the three subcategories of human capital, organizational capital and relational capital, we has the aim to decline these subcategories for the Opera Houses, underlining the specificities of the cultural organizations. In this contribution, starting from the above defined dimensions of IC we propose to understand if, in the case of the Teatroalla Scala, the Human Capital and the Relational Capital are managed “by antennae” (Donato, 2008). Furthermore we will deepen a possible evolutionary path of the measurement instruments and the model of Intellectual Capital Reporting that can be proposed to the managers of the theatre
Bankruptcy Prediction Models: Preliminary Thoughts on the Determination of Parameters for the Evaluation of Effectiveness and Efficiency
Full text linkFrom initial developments, the interest of experts, academics and others regarding models of bankruptcy prediction, has intensified, also in the light of the recent global economic-financial crisis. To date research in this field has mainly concentrated on the development of an instrument that has a higher level of reliability. Particular attention, has therefore been paid to the fine-tuning of the logical-technical system of models and proven efficiency, in terms of overall accuracy and proportional impact of errors made according to type.
Nonetheless, one aspect that has not been explored in full in this field is that of accessibility of models that require the analysis of factors that affect usability of these instruments in an operational field. The analysis perspective is that of the user, therefore, over and above the diagnostic accuracy test, specific importance must be given to the implications which the adoption of the model can have on the user’s organisation and the costs that are involved with the use thereof. The diagnostic instrument can be effectively and profitably used only if these implications are sustainable for the specific user.
This article aims at identifying the parameters that can measure efficiency, in terms of diagnostic reliability and speed, and effectiveness, in terms of organisational and economic sustainability, of prediction instruments. This objective has been pursued with an in-depth analysis of existing literature in matters of bankruptcy prediction models
La ragioneria come scienza del patrimonio aziendale nel pensiero di Vincenzo Masi
No full textL’opera di Vincenzo Masi si colloca tradizionalmente tra le scuole “anti-zappiane”. Da un punto di vista cronologico il suo pensiero si sovrappone a quello del fondatore dell’economia aziendale. Egli volle definire la ragioneria come “scienza del patrimonio” e dedicò tutti i suoi studi all’approfondimento di questa concezione.
Com’è noto, il periodo storico di riferimento è caratterizzato da un intenso dibattito dottrinale nel quale i contributi dell’Autore assumono spesso toni piuttosto accesi e polemici. Proprio per questo motivo il Masi finisce per essere isolato e con esso anche le sue idee.
Il presente studio approfondisce il percorso dottrinale di questo Autore che in tutta la sua opera si è sempre mosso al di fuori delle posizioni più diffuse. Proprio per questo motivo abbiamo proposto una rilettura del pensiero del Masi alla luce delle successive evoluzioni della materia per valutarne appieno il reale contributo alla moderna scienza dell’amministrazione d’azienda
A Chandra view of the clumpy reflector at the heart of the Circinus galaxy
No full text"We present a spectral and imaging analysis of the X-ray reflecting structure at the heart of the Circinus galaxy, investigating the innermost regions surrounding the central black hole. By studying an archival 200 ks Chandra Advanced CCD Imaging Spectrometer-S observation, we are able to image the extended clumpy structure responsible for both cold reflection of the primary radiation and neutral iron K alpha line emission. We measure an excess of the equivalent width of the iron K alpha line which follows an axisymmetric geometry around the nucleus on a hundred pc scale. Spectra extracted from different regions confirm a scenario in which the dominant mechanism is the reflection of the nuclear radiation from Compton-thick gas. Significant differences in the equivalent width of the iron K alpha emission line (up to a factor of 2) are found. It is argued that these differences are due to different scattering angles with respect to the line of sight rather than to different iron abundances.
I diritti pluriennali alle prestazioni degli sportivi professionisti nelle valutazioni di bilancio delle società di calcio. Un'indagine sui bilanci di Inter, Juventus, Lazio, Milan e Roma
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