SUBSTITUIÇÃO TRIBUTÁRIA POR CONVENIÊNCIA NO ICMS À LUZ DOS PRINCÍPIOS TRIBUTÁRIOS CONSTITUCIONAIS

O trabalho a seguir busca evidenciar, de maneira sucinta, a Substituição Tributária “Para Frente” na sistemática do Imposto sobre Circulação de Mercadorias e Serviços frente aos princípios constitucionais previstos na Carta Magna brasileira de 1988, no afã de estudar a inconstitucionalidade ou não de tal instituto da maneira como está posta

Covid-19, corporate survival and public policy: The role of accounting information and regulation in the wake of a systemic crisis

The economic crisis triggered by the Covid-19 pandemic prompted governments to issue several relief mechanisms to hold up companies and workers. This study analyzes how accounting information and regulation can support policymakers in the wake of a systemic crisis. Based on an accounting-based framework and readily available data from financial statements, it forecasts the impact of the crisis in terms of losses, equity depletion, and corporate defaults, absent government intervention. Next, it quantifies the costs and effects of five relief mechanisms in alleviating the risk of generalized corporate bankruptcies. The effects of the health pandemic and relief mechanisms on profitability and equity shortfalls are estimated for a sample of 586,076 privately held Italian firms. The findings indicate that the number of companies facing bankruptcy risk would increase from 65,463 (11% of the population) in 2019 to 153,681 (26%) in 2020, absent any government intervention. Altogether, these firms employ 1.4 million employees and have a total exposure to the financial industry equal to €68 billion in loans. Next, we assess the effects of relief mechanisms introduced by the Italian government to support corporations, whose aggregate costs reach €49.33 billion in 2020, and find that the interventions ‘rescue’ about 43,000 firms otherwise in default. Finally, the study adds to the debate on the role of accounting regulation in the wake of a systemic crisis by (a) discussing the effects of temporary changes to accounting rules on the informativeness and transparency of financial statements, and (b) suggesting alternative ways to modify accounting rules to safeguard corporate survival without compromising the informativeness of financial statements once the crisis reaches a halt

Corporate Governance in the Banking Sector (CGBS): A Literature Review

This chapter investigates how researchers across the world are trying to disentangle the CGBS concept. It scrutinizes the main CGBS articles published from 2000 to 2020 and identifies the most studied CG areas, that is, risk appetite, board diversity, ownership structure, role of CEO, compensation, Islamic banking system, CSR (corporate social responsibility) and ESG (environmental, social, and corporate governance), and political connections. Finally, it identifies the main results and provides ad hoc tips and advice to regulators and researchers

Tributação e legitimidade: Breves apontamentos do Estado Moderno ao Democrático de Direito

Homem é um animal político e, como tal, já vivia em sociedade quando nasce sapiente. Com o passar do tempo e o acúmulo não progressivo de cultura e conhecimento, passa este animal a criar organizações e institutos para sua própria gerência e de sua caravana, tribo, cidade, Estado; surgindo daí uma obviedade: tem esta organização social que se manter, ao passo que cresce e se torna cada vez mais complexo (em uma visão geral progressista). ‘Nasce’ dessas estruturas sociais, então, a Tributação; longe, porém, de ser algo tangível à nossa noção de tributos

SUBSTITUIÇÃO TRIBUTÁRIA POR CONVENIÊNCIA NO ICMS À LUZ DOS PRINCÍPIOS TRIBUTÁRIOS CONSTITUCIONAIS

O trabalho a seguir busca evidenciar, de maneira sucinta, a Substituição Tributária “Para Frente” na sistemática do Imposto sobre Circulação de Mercadorias e Serviços frente aos princípios constitucionais previstos na Carta Magna brasileira de 1988, no afã de estudar a inconstitucionalidade ou não de tal instituto da maneira como está posta

Beyond corporate governance reporting: the usefulness of information on board member profiles

The literature investigating corporate governance (CG) disclosure has predominantly stressed the monitoring role of the board of directors, analysing the association between information about the board\u2019s independence and firm market performance. Drawing from managerial studies, the governance literature has recently recognized corporate performance is affected by a wider set of directors\u2019 personal traits. However, CG reporting does not currently require disclosure of most of these characteristics. We believe knowledge of directors\u2019 personal traits is valuable for investors if these characteristics are indicators of company performance. Drawing on a sample of listed Italian family firms, we embrace a wide set of hand-collected information that captures directors\u2019 profiles to verify their association with Tobin\u2019s Q. Even if such associations are casual, we infer that information about board members\u2019 profiles beyond CG report disclosures is useful for market participants. The results from the regression analyses show that information about directors\u2019 personal details, educational backgrounds, and work experience in specific professional areas is predictive of market performance, and that the market evaluates board members\u2019 personal information that is currently ignored in CG reports. The study offers practical contributions to standard setters, highlighting the need to extend CG reporting requirements for directors\u2019 personal profiles. Further, the evidence contributes to drawing the attention of preparers and users to board of directors\u2019 profile information that is currently not disclosed in CG reporting

Estradiol 17-beta and progesterone modulate inducible nitric oxide synthase and High Mobility Group Box 1 expression in human endometrium

The aim of the present study is to investigate the effects of ovarian sex steroid hormones on. the expression and the release of several locally active substances by human endometrium. Specific objectives are (1) to ascertain if estradiol 17-beta (E2) and progesterone modulate inducible nitric oxide synthase (iNOS) expression and nitric oxide release; (2) to determine whether human endometrium can express High Mobility Group Box 1 (HMGB1), a multifunctional cytokine, anal whether sexual steroid hormones can modulate this expression; and (3) to evaluate whether nitric oxide can influence HMGB1 expression in this tissue. Endometrial tissue was obtained front 40 healthy premenopausal women who underwent hysteroscopy for suspected benign gynecological conditions. Endometrium was incubated with E2, progesterone, or sodium nitroprusside, a nitric oxide donor. Nitrite assay was used to quantify stable nitric oxide metabolites in culture medium, and Western blot analysis was used to detect iNOS and HMGB1. Incubation of endometrium with E2 results in an increase in iNOS expression and nitric oxide metabolite production. The opposite effect is obtained by incubating tissues with progesterone. HMGB1 is expressed by human endometrium, and its expression is increased by E2 and decreased by progesterone. Incubation with sodium nitroprusside results in a reduction in HMGB1 expression. Bout E2 and progesterone modulate iNOS expression and nitric oxide production in human endometrium. HMGB1 is expressed in the human. endometrium, and its expression is modulated by E2, progesterone, and nitric oxide