Search results for " money"
showing 10 items of 75 documents
Another "French paradox": explaining why interest rates to microenterprises dit not increase with the change in French usury legislation
2015
Conventional wisdom indicates that the growth of credit may not materialize if credit rates remain capped by usury laws, as had long been the case in France. France therefore abolished usury ceilings on loans to microenterprise in an effort to increase financing for microentrepreneurs. This should have led to an increase in interest rates and increase in microcredit. However, we do not find any increase in interest rates and this is therefore a paradox. The paper provides a brief literature review and the salient features of the legislative changes in France. It follows this up with a presentation of interest rate movements. The discussion of possible explanations of the paradox includes cl…
Liquidación de la sociedad de gananciales: el caso de la adjudicación forzosa de participaciones sociales de carácter ganancial a un solo cónyuge. Co…
2021
In a liquidation of community property, the rules for the partition of the inheritance are of suppletive application. Therefore, the sentence opts for a criterion of flexible interpretation of those rules, whose application will be subject to the objective entity of the property in question. Accordingly, when the only property to be shared between the spouses is constituted by set of shares of common nature, taking into account the special circumstances of the case, such shares could be awarded to one of the spouses with the obligation to compensate the other in money, even if it requests the sale of the shares in the public auction. To this end, the request would have to impede the possibi…
Bitcoin e cyber self-laundering: lo sguardo sospettoso della Cassazione sull'impiego di criptovaluta
2023
In Judgment n. 27023 of 2022, the italian Supreme Court recognized the confgurability of the crime of self-money laundering in the conduct of a person who uses the proceeds of crimes committed by him to purchase bitcoin, not directly, but through the intermediation of cryptocurrency exchange companies. The Author takes the pronouncement as a starting point to probe the extent to which the culture of suspicion, with which the anti-money laundering legislation is imbued, and the stigmatization of cryptocurrency have influenced the Supreme Court's guidance, in which there emerges a strong temptation to establish a kind of automatism between the input of illicit proceeds into the bitcoin system…
Bitcoin e rivoluzione digitale internazionale. Note a margine di una sentenza della United States District Court of Columbia.
2021
This Note is about the recent recognition, by the United District Court of Columbia, of bitcoin as 'money'. The Note offers a brief insight of the decision and some reflections on the actual international digital revolution and the current threats/opportunities related to it.
Accounting meets economics: towards an ‘accounting view’ of money.
2018
Questo studio pone le fondamenta dell’ “Approccio Contabile” (“Accounting View”) alla moneta. Sulla base dei principi di Ragioneria Generale riconosciuti internazionalmente, lo studio argomenta che le monete emesse dallo stato e dalla banca centrale non costituiscono debito e che nei regimi di riserva frazionaria soltanto una quota della moneta emessa dalle banche commerciali pu essere considerata quale debito. Lo studio chiarisce come il signoraggio associato all’emissione di queste monete debba essere contabilizzato nei bilanci delle istituzioni emittenti ed esamina le implicazioni di ci`o per la corretta comprensione della moneta. Il nuovo approccio fa luce su argomenti quali la vera nat…
Cryptocurrency Perception Within Countries: A Comparative Analysis
2020
Purpose: The paper explores the differences between countries concerning perception and use of traditional and virtual money. We try to answer the question who uses virtual money for investment and building assets and who uses it just for Internet payments. The background of the analysis are significant changes that have taken place in the virtual money market in recent years in relation to changes in the global financial market. Design/methodology/approach: A pilot study was conducted in Poland, the Russian Federation, and China, which is supposed to be an introduction to the bigger and wider survey. It was conducted within December 2019 and January 2020 with 81 surveyed persons. These wer…
Using Blockchain in Digitalizing Enterprise Legacy Systems: An Experience Report
2021
Blockchain technology and distributed ledger technology (DLT) offer a secure, distributed, and tamper-proof way to store and exchange information. However, apart from standard cryptocurrency-based networks, innovations and process improvements based on the blockchain technology have mostly remained on the conceptualizing stage and have not yet reached mass adoption. There is a high demand for practical experiences from developing blockchain and DLT based systems in various domains outside FinTech. This work seeks to contribute to this gap by presenting real-world experiences from developing a proof of concept for automatizing conditional payments in social benefits and healthcare domains. W…
Drivers and outcomes of consumer engagement : Insights from mobile money usage in Ghana
2019
Purpose The purpose of this paper is to examine the drivers of consumer engagement and its consequences via the experiences of mobile money services’ users in Ghana and to discuss its implications for the society, financial service innovation, delivery and operations. Design/methodology/approach A pre-tested survey instrument was used with a sample of 595 mobile money services users in Ghana. SmartPLS application was used to analyze the data and report findings. Findings The study shows that perceived risk, consumer empowerment, subjective norm, performance expectancy and effort expectancy influence the affect component of consumer engagement and explain around half of its variance. The ef…
Estonian e-Residency: a model for Europe
2020
This paper aims to examine one of the main implications of freedom of establishment: since it is possible to transfer a company abroad effortlessly, in fact, governments are adopting various strategies to make themselves more attractive. These are based on two main directives: first, a convenient tax system, as in Malta, on the other side technology, as proposed in Estonia. These countries’ strategy is radically different: Malta offers an extremely profitable tax system, while Estonia, on the other side, is the only nation in Europe where the optimal use of technology and its potential allows the consolidation and implementation of a totally digital system, whose advantages outweigh those o…
Money and equity returns in the Euro area
2010
Abstract This study examines the impacts of liquidity on equity returns in the euro area during the period 1987–2001. The main contribution of the study is that the money demand is carefully considered while estimating the liquidity. We provide evidence that in part the impact of money on equity returns depended on the measure used for liquidity (real money supply, real money gap and monetary overhang). However, a unanimous inference was made that over time an increase in liquidity has a negative impact on equity returns. This is interpreted as being due to the positive impact of money on inflation. Accordingly, an increase in liquidity generated expectations of inflation, which led to a de…