goodwill and accounting discretion

Purpose: The aim of the paper is to investigate earnings management practices related to goodwill accounting, focusing on its first recognition as well as its write-offs, due to the impairment test.Design/methodology/approach: The study refers to a sample of Italian listed firms and the analysis covers three years, with a total of 591 firm-year observations. The modified Jones' regression model has been used in estimating discretionary accruals, as a proxy of earnings management practices.Findings: A positive relationship between discretionary accruals and yearly changes in goodwill has been proved. Findings also show an incidence of leverage and performance.Research limitations/implications: The study focuses on a single context (Italy) and it is essentially based on financial-economic variables.Practical implications: Findings of the study could be relevant for standard-setters in future revisions of goodwill accounting.Social implication: The study could support investors in evaluating the incidence of first recognition as well as goodwill impairment on the quality of earnings.</p

A service-oriented approach to modeling and performance analysis of Port Community Systems:

A Port Community System (PCS) is an electronic platform that links the multiple systems operated by private and public organizations. Accordingly, PCSs can be interpreted as complex service system networks that coproduce services. The study proposes a three levels top-down methodology which aims to interpret existing PCS in order to: provide a formal description of this system network based on the enterprise architecture concepts of a PCS; illustrate how each actor of a PCS offers or requires services; and present a new approach to the measurement of services based on the Goal-Question-Metric paradigm

audit quality of italian industrial non listed firms an empirical analysis

The study measures audit quality of Italian non-listed SMEs, moving from two elements: i) the Italian law distinguishes between administrative and financial audit; ii) while listed companies have to assign administrative audit to the Board of Statutory Auditors (BSA), and financial audit to external auditors. However, non-listed firms, which are not "entities of public interest" and are not obliged to prepare consolidated financial statements, can assign both to the BSA. The research compares audit quality performed by these bodies.Considering the independence of BSA's members, it is expected that there are no significant differences between the two alternatives. Moreover, it is hypothesized that Italian SMEs tend to underestimate earnings.The approach adopted differs from previous studies because it analyses SMEs (which represent the wider market for audit services), while literature mainly analyses large listed firms. Moreover, the modified Jones' regression model is adopted to the characteristics of the Italian firms

Improving the efficiency of Port Community Systems through integrated information flows of logistic processes

The aim of the paper is to investigate maritime logistic processes, focusing on efficiency and coordination. The topic is timely because, in the European context, the EU Directive no. 2010/65/EU imposes the adoption of digital procedures concerning documents and information, in order to facilitate the relationships between all the actors of a port community system (PCS). From a theoretical viewpoint, we adopt the evolutionary economic approach, since it helps to understand the change processes due to its focus on organizational routines and their institutionalization. From a methodological viewpoint, we adopt a case-study approach, investigating the port of Salerno (south of Italy), which is involved in the “Smart Tunnel Project”, whose aim is to create a platform for intelligent logistic services. As a result, we provide a model that aims to replace the old inter- organizational routines with new more efficient ones, also improving the knowledge of the logistic processes through a facilitation of the exchange of documents and information between all the involved actors

La Banca etica: il modello VA.R.I.

Nell’attuale contesto economico, tra le imprese bancarie e finanziarie che interpretano le istanze della creazione del valore etico si annoverano le “banche alternative”, orientate alla concessione di prestiti a tasso contenuto a fasce di clientela marginale e ad attività meritevoli dal punto di vista socio-ambientale. In Italia, Banca Etica nasce come punto di incontro tra risparmiatori (attenti ad una gestione del proprio denaro più consapevole e responsabile) e iniziative socio-economiche che si ispirano ai principi di un modello di sviluppo umano e sociale sostenibile, nelle quali la produzione di ricchezza e la sua distribuzione sono fondate sui valori della solidarietà, della responsabilità civile e della realizzazione del bene comune. Le procedure di istruttoria finalizzate alla concessione dei finanziamenti utilizzate dalla Banca Etica sono, in parte, diverse rispetto alle procedure tradizionali. In particolare si riconosce un duplice binario valutativo: – la tradizionale istruttoria economico-finanziaria; – la valutazione etico-sociale effettuata mediante il modello Valori, Requisiti ed Indicatori (modello VA.R.I.). Il paper, dopo aver analizzato i contenuti della valutazione etica e la sua rilevanza rispetto alla tradizionale istruttoria economico-finanziaria, ipotizza una rivisitazione del modello di valutazione impiegato da Banca Etica, innestandosi nella più ampia problematica del rapporto tra indagine quantitativa e indagine qualitativa

The role of management accounting in family business succession

Family business succession is considered inherent to family businesses and represents a critical process that is generally characterised by resistance to change. This study aims to investigate the role of management accounting systems (MASs) in family business succession, in order to understand how changes in MASs during the succession across different family generations can help the succession process itself, facilitating the rise of the new leader, supporting changes, and reducing resistance to them. The research adopts a case study approach, focusing on organizational routines and their changes, at the same time taking into account the socioemotional wealth of the family firm. Evidence from the study shows the strategic role of MAS in managing the succession process, through the implementation of new routines and rules in helping the decision-making process and in achieving the firm’s leadershi

Sustainable development goals in public administrations: Enabling conditions in local governments

Sustainable Development Goals (SDGs) are a challenge that many public administrations face in promoting sustainable growth. Local governments, as the governmental tier closest to citizens, should deliberate upon strategies and actions attuned to achieving SDGs for the benefit of their communities. Through a comparative analysis of Italian and Spanish local governments, this research investigates the conditions that can support the achievement of SDGs. The results depict the political and financial levers that can stimulate politicians and policymakers in designing appropriate strategies and action plans towards the achievement of SDGs, while opening the path for further research that can support public administrations in their efforts at achieving sustainable growth

Conservative treatment for cystic duct stenosis in a child.

Introduction. Few cases of common bile duct stenosis have been reported in the literature, and observations of strictures in the cystic duct are even more rare. Surgical cholecystectomy is the treatment needed in most cases of gallbladder hydrops. This paper describes the diagnosis and successful medical treatment of a rare pediatric case of cystic duct stenosis and gallbladder hydrops. Case Report. A formerly healthy one-year-old girl was admitted with colicky abdominal pain. Blood tests were normal, except for an increase in transaminases. Abdominal ultrasound excluded intestinal intussusception and identified a distended gallbladder with biliary sludge. MR cholangiography revealed a dilated gallbladder containing bile sediment and no detectable cystic duct, while the rest of the intra- and extrahepatic biliary tree and hepatic parenchyma were normal. This evidence was consistent with gallbladder hydrops associated with cystic duct stenosis. The baby was treated with i.v. hydration, corticosteroids, antibiotics, and ursodeoxycholic acid. Her general condition rapidly improved, with no further episodes of abdominal pain and normalization of liver enzymes. This allowed to avoid cholecystectomy, and the child is well 1.5 years after diagnosis. Conclusions. Although cholecystectomy is usually necessary in case of gallbladder hydrops, our experience suggests that surgical procedures can be avoided when the distension is caused by a cystic duct stenosis

Investigating the Relationship between the Social and Economic-financial Performance

Hundreds of studies have explored and measured financial returns related to social performance (Margolis and Walsh, 2003), with controversial results. In addition to these studies‟ outcomes, we found, in this body of literature, a lot of innovation in the integration and adaptation of financial analysis tools and models to the study of statistical relationships. In this paper, we investigate the relationship between corporate social performance and corporate financial (and economic) performance, using multiple measures of financial and social performance and by looking statistically at the movement of actual financial and social performance over time. We emphasize the worth of statistical analysis in traditional financial representations. Our findings show how ratio analysis and statistical cause-and-effect validation are not alternatives for developing the financial analysis of sustainability and reporting. We show, through constant testing and a double learning process, the critical relationship between the key factors of financial, economic and social performance

Improving the efficiency of Port Community Systems through integrated information flows of logistic processes

The aim of the paper is to investigate maritime logistic processes, focusing on efficiency and coordination. The topic is timely because, in the European context, the EU Directive no. 2010/65/EU imposes the adoption of digital procedures concerning documents and information, in order to facilitate the relationships between all the actors of a port community system (PCS). From a theoretical viewpoint, we adopt the evolutionary economic approach, since it helps to understand the change processes due to its focus on organizational routines and their institutionalization. From a methodological viewpoint, we adopt a case-study approach, investigating the port of Salerno (south of Italy), which is involved in the “Smart Tunnel Project”, whose aim is to create a platform for intelligent logistic services. As a result, we provide a model that aims to replace the old inter-organizational routines with new more efficient ones, also improving the knowledge of the logistic processes through a facilitation of the exchange of documents and information between all the involved actors