The enterprise’s financial stability in times of crisis

Since the beginning of the third millennium, there were two world crises in financial markets: it now appears that a third one is beginning. Underlying the phenomenon are the behaviours of key stakeholder investors, who assumed the role of short- and very short-term "speculators". However, the work of ratings agencies, which sometimes have issued assessments which proved to be totally unreliable, has also to be acknowledged, among the causes of the crisis. This paper will also examine the possible effects of crisis on the economic and financial balance and, consequently, on the financial statement of companies, particularly referred to the Italian one

From “capital accounting system” to Ias/Ifrs through a National and International literature analysis

The purpose of this study is to analyse the “capital accounting system” and its evolution in the National and International literature to point out which are the elements that mainly affect International Accounting Standards. This work, starting from the theorization of Besta (the most important author modelling the “classic capital accounting system” at the beginning of ‘900) and following with De Dominicis (the author of the “variante corrente” of the capital accounting system), analyses the theorizations arising from the International literature, reaching to point out some specific characteristics of the capital accounting system that specifically affect International Accounting Standards Ias/Ifrs

A Study of the Accounting System and Standards in Bulgaria

This paper is focused on the analysis of Bulgarian accounting system and practices. More specifically, it is aimed at investigating the main environmental factors, which led to the development of such system. The approach is therefore both descriptive and causal. The findings suggest that the changes in the socio-economic and the cultural tradition mainly affect accounting systems and practices, as well as the status of the accounting profession

The ‘White Knight’ Returns (?): Tercas and the role of DGS in managing banking crises

In the aftermath of the global financial crisis, the European legislator has “miraculously" created the Banking Union, re-shaping banking supervision and resolution at the Eurozone level. In this context, Deposit Guarantee Schemes (‘DGS’) were asked to exercise a new role in managing banking crises and were provided by Directive 2014/49/EU (‘DGSD’) with new powers to ease the effects of banks’ liquidation and to prevent them from failing. According to Article 11.3 of the Directive, ‘Member States may allow a DGS to use the available financial means for alternative measures in order to prevent the failure of a credit institution’, given that some specific conditions are met. Notwithstanding the explicit conferral made by the DGSD, the use of DGS has been strongly limited in recent years, because of the denial opposed in 2015 by the European Commission (‘EC’) to the intervention of the Italian Fondo Interbancario di Tutela dei Depositi (‘FITD’) in favor of Cassa di Risparmio di Teramo (‘Tercas’), which was considered as State aid, incompatible with the internal market. After many years of uncertainty, on 19 March 2019 the General Court finally annulled the Commission’s decision, rendering a judgment which is certainly relevant from many perspectives

Do financial statements provide adequate information about the capitalization of costs related to intangible assets?: An empirical research on italian listed companies.

The aim of our research is to verify if Italian listed companies financial statements provide adequate information about the capitalization of costs related to intangible assets and if the information provided are reliable. Moreover, we investigated if they merely comply with law or provide additional information on cost capitalization and reveal if internal control systems (especially managerial accounting systems) or other information systems are applied to support the measurement process and the cost control, thus guaranteeing the verifiability and representational faithfulness of the information disclosed. This paper is an empirical analysis and is concerned to investigate the financial statements of 250 Italian listed companies

Sustainable Development Goals: How do Companies React?

Design/methodology/approach – The methodology followed is eminently qualitative-exploratory based on the administration of questionnaires, aimed at knowing which strategies have been implemented or what strategies are in the process of implementing by the companies to adapt to the challenge. Findings - Our findings show how large companies adapt their business to changing environmental conditions within a short period of time and what they expect in the future. Originality/value - The work presents elements of novelty, as an empirical study in managing the impact of SDGs framework on businesses belonging to the Italian territory

In Europe, new geopolitical ambitions and fiscal reform go hand in hand

On 23 December 2021, Emmanuel Macron and Mario Draghi published an open letter calling for a reform of European fiscal rules. This was welcome political weight on a sensitive issue, which was to be discussed by member states at the technical level this year. However, Russia’s invasion of Ukraine on 24 February has transfixed the EU’s political agenda and rightly captured the media’s attention. It would then be tempting to put fiscal rules reform on the back burner. We think this would be a serious mistake

The Role of Xenobiotic Caffeine on Cardiovascular Health: Promises and Challenges

Cardiovascular diseases (CVDs) represent a leading cause of premature mortality and disability worldwide, with their incidence expected to rise, potentially reaching 24 million deaths per year by 2030. These multifactorial diseases, including hypertension, coronary artery disease, arrhythmia, and heart failure, are often linked to metabolic disturbances such as diabetes, oxidative stress, endothelial dysfunction, and inflammation. Natural compounds, such as caffeine, have been explored for their potential therapeutic effects on CVDs. Caffeine, found in coffee, tea, cocoa, and various energy drinks, is a widely consumed psychoactive compound with noted analgesic and anti-inflammatory properties. Despite its long history of use, caffeine’s impact on cardiovascular health remains controversial, with both beneficial and harmful effects reported. This review examines the current literature on the effects of caffeine on cardiovascular diseases (CVDs), with an emphasis on preclinical and clinical studies, its pharmacokinetic properties, and the molecular mechanisms it modulates. There is evidence that moderate caffeine intake can be beneficial for some CVDs, such as hypertension, while for other CVDs, such as dyslipidemia, the evidence collected so far suggests that caffeine intake could be detrimental since it increases total cholesterol levels. But variability in dosage, intake patterns, and individual factors (such as genetics and diet) complicates the reliability of results. Additionally, challenges related to dose standardization and the absence of consistent clinical trial designs hinder the full utilization of caffeine in CVD treatment. Nonetheless, caffeine appears to be safe for individuals without significant cardiovascular conditions. Future research should aim for well-designed studies with precise patient cohorts and standardized methodologies to better assess caffeine’s role in CVD management

Business Ethics: Moral or Amoral? An analysis from the perspective of Kantian ethics

The aim of this paper is to analyze the phenomenon related to business ethical purposes from a different perspective, using the philosophical lens developed by Immanuel Kant. This work is also oriented to identify the most important research topics related to business ethics through the combination of a different framework. The present paper intends to offer a conceptual contribution to the ongoing debate on the theme of ethics in corporate social responsibility, highlighting the main problematic aspects that emerge from the analysis of the literature and the observation of reality in the light of the philosophical framework of Kant. This paper, therefore, examines and applies the deontological view of Kant and his distinction between the ‘categorical’ and ‘hypothetic’ imperative. This ethical view is useful to prevent instrumental acceptance of ethical codes and sustainability reports; in fact, during the making of the work, several well-known practices are presented, which are far from behaving in a moral way (i.e., General Electrics, Lehman Brothers, and so on)