1,721,005 research outputs found
L’enigma delle cooperative e del mercato dei capitali: adattamento o fuga?
No full textDa sempre le società cooperative, non solo italiane ma anche straniere, faticano a corrispondere alle esigenze degli investitori e rimangono ai margini del mercato dei capitali.
Nell’ordinamento italiano ogni modello di disintermediazione del credito viene visto come minaccia alla purezza dell’essenza delle cooperative, tanto nella raccolta del capitale di prestito che ricorrendo ad incrementare l’equity. In particolare la scarsità del capitale di rischio e gli stessi limiti legali al possesso delle quote danneggiano gli standard di meritevolezza del credito e innalzano i costi dei bond, oltre che a distorcere una corretta gestione del rischio d’impresa.
La quotazione dell’impresa cooperativa sui mercati regolamentati, sottratte poche eccezioni di quotazione diretta (banche popolari), avviene mediante “spin off” di uno o più rami aziendali della cooperativa stessa in una società per azioni e può confliggere con l’assenza nel diritto positivo attuale di una mutualità di gruppo, intesa come possibilità dei soci cooperatori di instaurare il rapporto mutualistico con la s.p.a. a valle. Tali processi di quotazione possono coinvolgere dei soggetti specializzati o, in prospettiva, previe adeguate valutazioni, gli stessi soci cooperatori.
In conclusione sarebbe opportuno ipotizzare per il futuro e in vista di un armonico incontro col mercato dei capitali un’evoluzione della legislazione cooperativa italiana che autorizzasse trasformazioni delle imprese cooperative in società di capitali, in cui si cessasse di assegnare alla devoluzione del patrimonio cooperativo ai Fondi Mutualistici una funzione di deterrenza ma si concepisse una visione neutra della trasformazione e del recupero delle eventuali risorse pubbliche fruite.
Cooperative companies, not only Italian but also foreign, have always struggled to meet the needs of investors and remain on the margins of the capital market.
In the Italian legal system, every model of credit disintermediation is seen as a threat to the purity of the essence of cooperatives, both in the collection of loan capital and by resorting to increasing equity. In particular, the scarcity of risk capital and the same legal limits on the ownership of shares damage creditworthiness standards and raise the costs of bonds, as well as distort correct management of business risk.
The listing of the cooperative enterprise on regulated markets, apart from a few exceptions of direct listing (“banche popolari”), takes place through a "spin off" of one or more business branches of the cooperative itself into a joint-stock company and may conflict with the absence in law current positive of a concept of “group mutuality”, understood as the possibility of cooperating members to establish a mutualistic exchange with the s.p.a. downstream. These listing processes may involve specialized subjects or, in the future, subject to adequate evaluations, the cooperative members themselves.
In conclusion, iIt would be appropriate to hypothesize for the future and in view of a harmonious encounter with the capital market, an evolution of Italian cooperative legislation that would authorize the transformation of a cooperative enterprise into a joint-stock company, in which the transfer of cooperative assets to the Mutualistic Funds (organisations of the cooperative movement provided by Italian law with the aim of promoting and financing the development of new cooperatives) ceases to have a function of deterrence but a neutral vision of the transformation and recovery of any public resources used should be conceived
Three dimensional morphological measures of urban areas supporting the implementation of spatial environmental models
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Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe 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
Get PDF“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
Get PDFWe 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
Didattica inclusiva e apprendimento delle lingue straniere: riferimenti metodologici ed esempi operativi
No full textUrban roughness parameters calculation in the City of Rome by applying analytical and simplified formulations: comparison of results
No full textThe mesoscale meteorological models are the most used to study air quality and pollutant dispersion processes in urban areas. However they do not have the spatial resolution to directly simulate the fluid dynamics and thermodynamics in and around buildings and other urban structures that can modify the atmospheric characteristics. In order to improve the quality and consistency of mesoscale models the most extensively adopted approach is the "Urban Canopy Parametrization" (UCP) which allows to describe geometric and morphological characteristics of urban agglomerations by a range of parameters derived from analysis of high resolution databases. This work has the aim to analytically determine some of these parameters and an automatic procedure was implemented by Arcgis 9, using as input data the vectorial numerical geodatabase of the city of Rome, coded in 1: 2.000 scale and provided by CARTESIA S.p.A. This procedure was applied to the IX district of the city of Rome, whose full extent is about 8.1 km2
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe 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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