1,721,107 research outputs found
Aspetti ultrastrutturali e funzionali dei pori apicali nel genere Prorocentrum (Pyrrhophyta).
No full textL’APPLICAZIONE DELL’EXCESS EARNINGS METHOD NELLA STIMA DEL PORTAFOGLIO LAVORI
No full textThe backlog is often an intangible asset which is strategic for make-to-order manufacturing firms. The valuation of backlogs arises in the case of the sale both of one or more contracts and of firms or a business units, when the expert estimates assets and liabilities by using the asset-based approach and including intangible assets in valuation. Despite this, the issue appears to be poorly treated in literature at the national and international lev-els.
The Excess Earnings Method (EEM) is strongly accredited internationally in both theory and practice for valuing customer-related assets, such as customer relations, commercial contracts, customer lists and backlogs too. However, theoretical contributions on the use of the EEM in the specific valuation of backlogs are quite rare.
The paper studies the application of the EEM just to the valuation of backlog. The objective is not only to describe the estimate process carried out with the EEM of this specific asset but to develop a critical analysis of the method in its application to such valuation object, in order to grasp the strengths and weaknesses of the method itself.
We conclude that the EEM is highly appreciable for its strong economic rationality as well as for its international recognition in the context of professional business valuation services. It is also true, however, that it denotes elements of uncertainty related to the multiple estimates to be made, appears extremely complex, is a time-consuming process and that its application requires a high level of specialist valuation knowledge and skills by the expert
The Reputation Factor in Startup Companies: A Literature Review
No full textThe paper analyzes the concept of reputation with particular reference to startup companies. The definition of ‘reputation’ that has inspired this work is that of a judgement of reliability expressed by a community about a social player based on the behaviour of that player over time. The peculiarity of this judgement is that only one or some of the members of the community have had direct knowledge of the player and their actions, and it is on this experience that they have based their personal judgements of value. The authors carried out a literature review in order to analyze the constituent factors of reputation. What emerges is that the reputational issue is configured with marked peculiarities in startups, in particular in the pre-revenue phase, when the startup has not yet matured its history. The reputation of the pre-revenue startup, in fact, since it cannot be the product of its activity, is the product of the activity and behaviour of the founder and, more generally, of his team; in other words, the reputation of the latter becomes the reputation of the startup. Furthermore, it is a fundamental competitive lever for the startup, as it affects the ability to raise funds. Effective reputation management, therefore, cannot ignore the consideration of the life phase of the company and the nature of the subjects to which the reputational factors refer
Linking Financial Statement Valuations to the Nature of Azienda: The Theorization by Egidio Giannessi
No full textThis paper focuses on the contribution given by Egidio Giannessi (1908-1982), the founder of the Pisa University’s business school, to Italian studies in Economia Aziendale. In order to better understand his scientific profile and highlight the novelty of his thought, we have set the scholar in the scientific school of which he was one of the most prominent members, the Tuscan School of Economia Aziendale. Our study has mainly looked at two fundamental contributions of his scientific production: the general theory of azienda and the theory of financial valuation, two strictly interrelated scientific constructs where, more specifically, the latter is a consequence of the former. In the authors’ opinion, it is exactly the originality of the conception of azienda formulated by Giannessi that helps understand his theory of financial valuation
Lo "sconto per vendita forzata" nella cessione di aziende in ambito fallimentare: prime riflessione
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The Problem of Connections between Accounting and Economics in Italian Accounting at the End of the 19th and the Beginning of the 20th century
No full textThe problem of relations or connections between a particular discipline and those that are most similar to it, especially regarding the subject of investigation, has often been non wrongly deemed to be of paramount importance for the development of any field of research.
Italian accounting scholars have long wondered about the connections between accounting and its related sciences, particularly those that belong, as accounting does, to the field of economics. This happened since the second half of the nineteenth century. Those were the years when disciplines, whose status of science had already received recognition such as economics and law, existed along with others including accounting which, although having similar attributes, had not yet managed to gain their own analogous accreditation. At that time, accounting was trying to achieve its deserved consideration in the academic world and its scientific recognition, particularly by the experts of some related fields, was a real priority. On the other hand, the need was being felt to position that doctrine within the already extensive scenario of knowledge, without risking to encroach on others’ research fields, in the awareness that any straying out of its domain could be detrimental to the abovementioned recognition.
This paper takes into consideration the doctrinal positions taken by Italian accounting in the period between the nineteenth and the twentieth century concerning the nature of relations between accounting itself and its most similar sciences, particularly economics. Over those years, the scholars in that field started to show a peculiar epistemological sensitivity. Spurred by the philosophical debate raised by positivism, and particularly by Compte’s and Spencer’s studies, researchers wondered which was the most appropriate place for accounting in the large field of social sciences. Hence, two different epistemological approaches, one succeeding the other in time.
In a first phase, scholars deemed it convenient to use, also for their own purposes, principles drawn from contiguous doctrines that had already been scientifically recognised, such as, for example, economics. So Italian accounting happened to be, even though temporarily, in a position of “scientific subjection” with respect to the mentioned doctrines.
In a second phase, due to the awareness of its specific subject and method of investigation, as well of its own purposes, Italian accounting went back to its first steps and considered it necessary to develop internal principles and rules as a function of its peculiar needs. By so doing, scholars mapped out a route that would deeply mark the future of the discipline by making it fully independent on other fields of knowledge, in a sort of emancipation process.
This paper will not only describe the two theoretical positions summarized above but, by adopting an interpretative approach, trace their possible causes and try to grasp their effects on the development of the discipline, particularly as regards the theory of value, formulated by the Italian accounting over the period analysed
Ultrastructure and pigment composition of the photosynthetic apparatus of Pterocladia pinnata (Huds.) Papenfuss. Gelidiaceae, Rhodophyta
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