In this paper, we discuss the potential economic consequences of IFRS 13 endorsement in the European Union. Our focus is on private equity valuation.We review prior research and perform a field-test in order to shed light on the possible effects of its adoption.Our paper questions whether fair...

This paper consists in a field-test of IFRS 13, Fair Value Measurement, on private equities, whose fair value assessment is based on valuation techniques. Its aim is that of offering empirical evidence on the potential economic effects of the application of such a standard in the European...

The diffusion of internal rating systems changes the scenario of the financial strategy adopted by firms. The objective of the work consists of understanding how firms can respond to increasingly complex strategies that require an operative and managerial maturity, by building an optimum...

In this paper, we discuss IFRS 13 with regard to private equity valuation We raise issues on the fair value definition as an exit price and question the reliability of valuation techniques which are categorized into Level 2 fair value hierarchy. Our paper questions whether fair value as defined...

Systemic risk is, by nature, unpredictable. Statistical models can fail to identify it. We need to maintain resource buffers as well as to implement better regulatory controls, and to improve managerial experience, and contingent strategies. International imbalances are nearly up to their...

Since Basel 1, Corporate Governance has acquired a mounting role in pursuing financial stability, while moving from internal controls and decision making functions to the domain of reputation risks, customer relations and protection of stakeholders. This role is central today in Basel 3...

Analyzing corporate fundamentals in the internal rating process (both at industrial and competitive level), leveraging on public information, is an important issue. The aim is to facilitate the counterpart’s forwardlooking assessment, beyond a stringent cyclical point-in-time valuation, with a...

Ratings are increasing their functions (origination of credit, control, determination of regulatory capital, supporting accounting valuations) in full harmony with the more general development of risk management. In parallel also increases the difficulty of rating to make compatible purposes...