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...

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...

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...

This paper discusses the effects of the adoption of IAS/IFRS in Europe on the quality of financial reporting. In doing so, it adopts the perspective of stock market investors and focuses on value-relevance research. The adoption of IAS/IFRS in Europe is an example of accounting standardization...

Financial reporting is a powerful practice that shapes social and economic processes. This paper raises several doubts on the wisdom of current attempts to establish a single set of international financial reporting standards, tailored to the needs of stock market - based capitalism, which...

This paper examines the relative costs and benefits of International Financial Reporting Standards (IFRS) adoption in the European Union by testing the ability of earnings computed under IFRS to predict future cash flows. The study considers the contribution of net income, comprehensive income...

Accounting is not simply a metric; rather it is a calculative practice which shapes the socio-economic environment. Therefore, looking only at the substance of accounting standards is sometimes inadequate. From a European Union perspective, this paper provides a general framework that deals with...