1,721,012 research outputs found
The 2015 Edition of Corporate Governance Principles issued by OECD: impact and compliance for the corporate governane of Italian Veneto SMEs.
No full textPROF. ROFFIA PAOLO Associate Professor Department of Business Administration UNIVERSITY OF VERONA Via Cantarane, 24 37129 Verona ITALY Email: [email protected] Office: +39 045 8028012 Abstract title: The 2015 edition of Corporate Governance Principles issued by OECD: impact and compliance for the corporate governance of Italian Veneto SMEs In September 2015 during the G20 Finance Ministers and Central Bank Governors Meeting, the OECD presented their updated G20/OECD “Principles of Corporate Governance.” The OECD CG Principles - endorsed by OECD Ministers since 1999 - are an international benchmark for policy makers, investors, corporations and other stakeholders and are one of the standards designated by the Financial Stability Forum for a “sound financial system”. The importance of “good” corporate governance, for the competitiveness of the companies and for a healthy economic system, is more and more evident, for regulators and for a wide group of stakeholders. Nowadays most of the big corporations and multinational enterprises spend a lot of energy and resources in designing and controlling their corporate governance, setting roles and activities of the Board of Directors (BoD), specifying the conditions for being a member of the BoD and their remuneration - examples of topics covered by the six chapters of the OECD CG Principles. But what happens in SMEs, often family owned, where BoD meetings are rare, a conflict of interest of board members is possible and resources to be dedicated to a “good” corporate governance are limited? The purpose of this research project was to investigate compliance to the CG Principles issued by OECD by a specific category of companies: the small and medium enterprises. SMEs make up more than 90% of the companies operating in Italy, half a million in the Veneto region. Their role in the Italian economy is fundamental, despite their limited size and the few resources to be employed in CG matters. This research project used an empirical approach, analysing a few selected companies from the Veneto region. A specific questionnaire was sent to 50 companies based in the Verona and Vicenza provinces, to monitor 17 variables related to the OECG CG principles in the SME context. Data were collected for limited liability companies, with from 10 to 249 employees, operating in the macro sectors of manufacturing (C), building (F) and grocery and distribution (G). We found that most of the companies, thanks to the Italian regulatory framework, adopted a good corporate governance design and control, substantially in line with the OECG CG Principles. The responsibility of the BoD and the level of transparency applied were evident. Can we extend these results to a wider context
Internal auditing & audit tools
No full textL'articolo intende proporre una disamina degli audit tools utilizzati in Italia presso le società quotate alla Borsa Italian
La ragioneria nel pensiero di Vincenzo Masi
No full textL'articolo intende presentare una breve biografia di Vincenzo Masi, un accademico italiano che fu convinto patrimonialista nonchè pioniere degli studi italiani in tema di analisi di bilancio. Nato sul finire del XIX secolo, frequentò la Scuola di Magistero di Ragioneria Ca’ Foscari di Venezia, dove si laureò a pieni voti con una tesi dal titolo “L’agendologia, come dottrina della vita e dell’organizzazione delle aziende”. Fu il passo verso una Ragioneria che osservasse le aziende non soltanto da un punto di vista contabile, bensì a tutto tondo, con precisi richiami anche agli studi organizzativi che andavano diffondendosi oltreoceano. Fin dai primi scritti Masi fu un convinto patrimonialista, uno dei più strenui difensori del ruolo della ragioneria, anche dopo l’affermarsi dei celebri studi Zappiani.
Conseguita la libera docenza in Computisteria e Ragioneria generale ed applicata offrirà il proprio magistero presso l’Istituto Superiore di Commercio Di Bologna, successivamente divenuto la Facoltà di Economia e Commercio dell’ateneo bolognese.
Masi fu autore di numerosi saggi e pubblicazioni, fra cui spiccano un volume sul sistema patrimoniale dal titolo “Statica patrimoniale “ e quelli innovativi sull’analisi di bilancio.
Dal 1960 al 1966 fu Direttore della Rivista Italiana di Ragioneria ed Economia aziendale
Il sistema relazionale dell'impresa. Nei principi di governo, analisi e rappresentazione
No full textIl volume intende analizzare le relazioni dell'impresa con il suo ambiente di riferimento. L'impresa è per sè stessa un fenomeno economico di iterazione con una molteplicità di soggetti. In questo contesto una corretta gestione degli aspetti relazionali impatta profondamente sulla fisiologia dell'impresa, condizionandone l'economicità e la durabilità. Il lavoro si articola in tre capitoli: 1. L'impresa quale sistema relazionale, 2. L'identificazione del sistema relazionale, 3. Strumenti e modelli di rappresentazione delle relazioni dell'impres
Il controllo di gestione activity based
No full textIl volume intende trattare, in chiave economico-azindale, il contributo offerto dalla "logica" activity based negli strumenti di controllo gi gestione
Esercizi di contabilità e reporting direzionale
No full textCasi ed esercitazioni di contabilità e reporting direzional
FINANCIAL PERFORMANCE OF ITALIAN SMES IN THE VENETO REGION: EFFECT OF THE 2007 WORLD FINANCIAL CRISIS
No full textItalian SMEs are the driving force behind the Italian economy. They operate in all the economic sectors, include approximately 4 million firms and make up, in most cases, the basic assets of the families they belong to. Half a million of these firms are based in the Veneto region where they employ approximately 5 million people.
In late 2008 the global financial crisis that originated in the USA in 2007 arrived in Italy, and Italian SMEs faced a general fall in demand, high losses in receivables from customers and strong limits to bank credit access. There ensued a consequential impact on their financial performance. Now, after 5 years it is said that most companies have changed their business model and costs have been aligned to new levels of revenue. What is the final impact on profitability levels of this crisis? The economic literature suggests that the profitability of companies in the medium term period should be adequate to business risks and aligned to long term trends. Some studies analysed the financial performance of listed companies and others that of larger firms. There is a lack of studies on SMEs in the regional context (the Veneto region) that cover the past decade.
The present study was based on an empirical analysis of the financial statements of the companies considered. During the period 2007-2012 we collected data from the limited liability companies in the provinces of Verona and Vicenza (both within the Veneto region) with at least 10 to 249 employees, operating in the macro sectors of manufacturing (C), building (F) and grocery and distribution (G). For each of the approximately 4,500 companies included in our study, we calculated the main financial indexes plus some specific ratios to be used in our study. We found that over the 5-year study period the companies suffered a strong reduction of profit margins (ROS). Cost reductions and increased labour productivity balanced the negative effect on margins. The final impact on profitability (after the crisis occurred) was negative. During the period 2009-12 the ROI of the companies considered declined by 40%-50%. Is this the new (lower) profitability index really linked to the business risk? Is it sustainable in a long term view
L’innovazione tecnologica nella rilevazione contabile (ERP) ed i connessi riflessi in aderenza ai processi dell’economia aziendale
No full textL'articolo intende trattare, da un punto di vista economico-aziendale, le peculiarità e le potenzialità dei sistemi di tipo ERP nell'ottica dell'unitarietà spazio-temporale dell'azienda
ABC e prezzi nelle aziende di facility management
No full textLa logica dell'activity based costing trova applicazione anche nelle imprese di facility management, con indubbi vantaggi sotto il profilo informativo. L'utilizzo di modelli di determinazione dei costi di tipo ABC consente alle imprese di passare ad un approccio "attivo" nella determinazione dei prezzi
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