Financial and Economic Health in European Member States: A Rational Management Theory

The last decades of the European Union have been sprinkled of several instability problems, fluctuating between the growth of some State and crises of some other, without reaching an economic stability unity. Even in the presence of the Stability and Growth Pact (SGP) agreement, most of the States failed to monitor their health and gradually achieve positive results in term of Sovereign Debt exposure, economic growth and population\u2019s happiness and satisfaction. According to the Rational Management Theory, any organization (both private or public, whatever the dimension) can be managed through three specific \u201crational\u201d macro-phases. A first phase is called \u201cPlanning\u201d. In this phase, all the initiatives and actions are forecasted, planned and defined coherently with the vision, the mission, the target and the budget of the organization. In the second phase, named \u201cExecution\u201d, those actions are implemented and performed. In the third phase, titled \u201cControlling\u201d, is conducted a gap analysis between the deliverable and the achieved performance, therefore corrective actions can be proposed and implemented. The three phases are cyclic and backed by several documents, in particular budgeting statements and reports, accountancy and final balance statement. In this framework, the European Union members can find a map to a better managerial system, even taking into account all the complexity that characterizes a State. To evaluate the financial and economic health gauge of European Union Member States, we propose to verify if some of the most acknowledged managerial tools of financial statement interpretation can provide some gauges for economic and financial health and even predict or enhance the Deficit/GDP Ratio and the other structural ratios of the SGP. The sample is extracted from the European Central Bank Statistical Warehouse, analyzing some of the most critical accounts for the General Governments and comparing them with the most famous structural financial stability measures. The comparison will be conducted on the panel of most of the EU Member States financial and economic data for the last two decades. This contribution intends to foster the improvement and development of a set of supplementary instruments for a better management based on accounting data and strengthened by the European System of Accounts (2010 version)

Estimating causal networks in biosphere–atmosphere interaction with the PCMCI approach

Local meteorological conditions and biospheric activity are tightly coupled. Understanding these links is an essential prerequisite for predicting the Earth system under climate change conditions. However, many empirical studies on the interaction between the biosphere and the atmosphere are based on correlative approaches that are not able to deduce causal paths, and only very few studies apply causal discovery methods. Here, we use a recently proposed causal graph discovery algorithm, which aims to reconstruct the causal dependency structure underlying a set of time series. We explore the potential of this method to infer temporal dependencies in biosphere-atmosphere interactions. Specifically we address the following questions: How do periodicity and heteroscedasticity influence causal detection rates, i.e. the detection of existing and non-existing links? How consistent are results for noise-contaminated data? Do results exhibit an increased information content that justifies the use of this causal-inference method? We explore the first question using artificial time series with well known dependencies that mimic real-world biosphere-atmosphere interactions. The two remaining questions are addressed jointly in two case studies utilizing observational data. Firstly, we analyse three replicated eddy covariance datasets from a Mediterranean ecosystem at half hourly time resolution allowing us to understand the impact of measurement uncertainties. Secondly, we analyse global NDVI time series (GIMMS 3g) along with gridded climate data to study large-scale climatic drivers of vegetation greenness. Overall, the results confirm the capacity of the causal discovery method to extract time-lagged linear dependencies under realistic settings. The violation of the method's assumptions increases the likelihood to detect false links. Nevertheless, we consistently identify interaction patterns in observational data. Our findings suggest that estimating a directed biosphere-atmosphere network at the ecosystem level can offer novel possibilities to unravel complex multi-directional interactions. Other than classical correlative approaches, our findings are constrained to a few meaningful set of relations which can be powerful insights for the evaluation of terrestrial ecosystem models

Resistance to Change Processes and Strategies for the Implementation of Harmonization Reforms: The Separation of the Health Care Expenditure in the Regional Financial Statements

The Legislative Decree n. 118/2011, in setting the rules for the harmonization of the financial accounting of the local governments, represents a further progress for the accounting process also for the health care. In the specific case the article 20 defines a precise identification perimeter of revenue and expenditure related with National Health Service (NHS) by the regulations in the regional financial statements, in a way to make possible an immediate comparability between the Health Care incomes and expenditures in the Regional financial statement. The aim of this paper, always referred to the Rational Management based on financial statement, focuses the attention on the possible correlation between organizational responses to institutional pressure and the theoretical roles of accounting, tracing lines of best practices compliance or not on the sample above explained

Financial and Accounting Approaches in Lease Appraisal

The determination of the residual debt at a given date of a lease agreement, when it occurs the case of insolvency or continuous arrears (i.e. an early termination, before the maturity of the lease plan), is often regulated by the contract, which fixes penalties and some kind of impairment reimbursement. Both the lessor and the lessee are required to calculate separately for the amount of the outstanding debt and the sum of the impairment reimbursement and of the penalties. In this paper, the authors propose a model for a precise quantification of the residual debt, the damage impairment and the penalty shares based on three rates: the contractual rate, the implicit internal rate(s) of return and the market prime rate. This model is consistent with both finance and accounting perspectives. The developed methodology can also be proven capable to detect early any usury behavior, when it is given a threshold by the law or when it can be inferred from the market, therefore improving decision making and the forecasting of actual costs of the agreement

A short introduction to historical earthquakes in Libya

As a result of the relative motion of the African and European plates, Libya, located at the north central margin of the African continent, has experienced a considerable intraplate tectonism, particularly in its northern coastal regions. If the seismic activity of the last fifty years, at most, is known from instrumental recording, macroseismic effects of those earthquakes which affected Libya in the past centuries are still imperfectly known. To try and partly overcome this lack of information, in this contribution we present a short introduction to historical earthquakes in Libya, focusing on the period up to 1935. According to the studies published in the last twenty years, the earliest records of earthquakes in Libya are documented in the Roman period (3rd and 4th century A.D.). There is a gap in information along the Middle and Modern Ages, while the 19th and early 20th century evidence is concentrated on effects in Tripoli, in the western part of nowadays Libya. The Hun Graben area (western part of the Gulf of Sirt) has been identified as the location of many earthquakes affecting Libya, and it is in this area that the 19 April 1935 earthquake (Mw = 7.1) struck, followed by many aftershocks. Further investigations are needed, and some hints are here given at historical sources potentially reporting on earthquake effects in Libya. Their investigation could result in the needed improvement to lay the foundations of a database and a catalogue of the historical seismicity of Libya

“Bit Standard”- Bitcoin between reality and risks of a “halfway-money”

This work provides an explanation of the market underlying the evolution due to modern technologies and technical advances, especially in transactions. In this regard, the authors specify the aspect related to the creation of virtual currencies like bitcoin that can circulate thanks to the Blockchain system through miners\u2019 work. The authors consider areas related to the warnings on the use and exchange of virtual currencies. The aim is to conceptualize in a graphical way the current operational transaction in bitcoin through the existing exchange platforms. The authors try to attest the fickleness of the disintermediation ideal founding Bitcoin. The analysis purposed could be interesting and useful to provide a kind of interpretation of the phenomenon and a general overview about Bitcoin system

Cooperation of Striatin 3 and MAP4K4 promotes growth and tissue invasion

MAP4K4 is associated with increased motility and reduced proliferation in tumor cells, but the regulation of this dichotomous functionality remained elusive. We find that MAP4K4 interacts with striatin 3 and 4 (STRN3/4) and that STRN3 and MAP4K4 exert opposing functions in Hippo signaling and clonal growth. However, depletion of either STRN3 or MAP4K4 in medulloblastoma cells reduces invasion, and loss of both proteins abrogates tumor cell growth in the cerebellar tissue. Mechanistically, STRN3 couples MAP4K4 to the protein phosphatase 2A, which inactivates growth repressing activities of MAP4K4. In parallel, STRN3 enables growth factor-induced PKCθ activation and direct phosphorylation of VASPS157 by MAP4K4, which both are necessary for efficient cell invasion. VASPS157 directed activity of MAP4K4 and STRN3 requires the CNH domain of MAP4K4, which mediates its interaction with striatins. Thus, STRN3 is a master regulator of MAP4K4 function, and disruption of its cooperation with MAP4K4 reactivates Hippo signaling and represses tissue invasion in medulloblastoma

Author Correction: Cooperation of Striatin 3 and MAP4K4 promotes growth and tissue invasion

MAP4K4 is associated with increased motility and reduced proliferation in tumor cells, but the regulation of this dichotomous functionality remained elusive. We find that MAP4K4 interacts with striatin 3 and 4 (STRN3/4) and that STRN3 and MAP4K4 exert opposing functions in Hippo signaling and clonal growth. However, depletion of either STRN3 or MAP4K4 in medulloblastoma cells reduces invasion, and loss of both proteins abrogates tumor cell growth in the cerebellar tissue. Mechanistically, STRN3 couples MAP4K4 to the protein phosphatase 2A, which inactivates growth repressing activities of MAP4K4. In parallel, STRN3 enables growth factor-induced PKCθ activation and direct phosphorylation of VASPS157 by MAP4K4, which both are necessary for efficient cell invasion. VASPS157 directed activity of MAP4K4 and STRN3 requires the CNH domain of MAP4K4, which mediates its interaction with striatins. Thus, STRN3 is a master regulator of MAP4K4 function, and disruption of its cooperation with MAP4K4 reactivates Hippo signaling and represses tissue invasion in medulloblastoma