Search results for "Crisi"
showing 10 items of 1042 documents
La crisis de la ley en Luigi Ferrajoli: algunas consideraciones desde la teoría de la legislación
2012
La preocupación por la calidad de las normas es una cuestión cada vez más presente en nuestro tiempo. La obra Principia iuris del profesor Ferrajoli no es una excepción. En ella se diagnostican problemas tales como el lenguaje oscuro de las normas, la legislación penal con carácter simbólico, la inflación normativa o el colapso de los tribunales. Ante tales circunstancias, en la obra señalada se proponen varias soluciones. El objetivo de este trabajo es analizar algunas de estas propuestas desde la perspectiva de la teoría de la legislación. Este ejercicio puede resultar interesante, por cuanto con él es posible contribuir al desarrollo de las propuestas de Ferrajoli, matizar algunas de ell…
Empirical Analyses of Networks in Finance
2018
Abstract The recent global financial crisis has triggered a huge interest in the use of network concepts and network tools to better understand how instabilities can propagate through the financial system. The literature is today quite vast, covering both theoretical and empirical aspects. This review concentrates on empirical work, and associated methodologies, concerned with the evaluation of the fragility and resilience of financial and credit markets. The first part of the review examines the literature on systemic risk that arise from banks mutual exposures. These exposures stem primarily from interbank lending and derivative positions, but also, indirectly, from common holdings of oth…
New Approaches to Regulating the Activities of Rating Agencies: A Comparative Analysis
2016
Abstract Rating agencies have become an important part of the global financial landscape. Formation of credit ratings is specified by the inherent asymmetry of financial market information and general interest in the transformation of a large amount of diverse and segmented financial information in a simple and clear assessment of the credit surveillance of borrowers that is credit rating. The world financial crisis started in 2008 has again put on the agenda the question of rating assessment accuracy and the factors influencing the rating migration. The activity of rating agencies, until recently, has had little regulation, allowing rating agencies to avoid responsibility for inaccuracies …
Corporate crisis management in Italy: execution, monitoring and performance analysis of recovery business and financial plans
2018
This paper presents a thourugh investigation of how corporate crises are managed in the Italian context. It offers an investigation of the legal, accounting, finance and managerial aspects that are involved in the formal resolution of the crisis. The paper adopts a qualitative methodology consisting in a critical review of both the academic and the practical literature to present a systematic overview of how recovery plans are executed, monitored and their performance analyzed. The paper presents important insights for researchers, practitioners, enterpreneurs and managers interested in crisis management.
Operational Programmes - Tools to Combat Economic Crisis
2013
Abstract This paper aims to present the state of implementation of operational programs 2007-2013 co-financed with structural instruments, to determine the level of absorption of these funds and the achievement of the strategic objectives set by European and national documents. The purpose of this analysis is to identify weaknesses and strengths that Romania has in this area and how it is likely to increase the success of absorption rate of EU funds. All these aspects are very important, as structural funds are considered an important tool in combating the effects of the financial crisis on the Romanian economy.
Evaluation of the Financial Threat Scale (FTS) in four european, non-student samples
2015
Abstract The Financial Threat Scale (FTS) was designed to assess levels of fear, uncertainty, and preoccupation about the stability and security of one's finances. In previous research with Canadian university students, it was shown that the FTS was a psychometrically sound measure, associated with failing personal financial conditions, threat-related personality characteristics, and depreciated psychological health. The present investigation further examines the FTS in a diverse set of non-student European samples. Data were collected in four countries using a self-report questionnaire which included measures of ones’ financial situation, personality, and psychological health. Results were…
Systemic financial crises and the housing market cycle
2017
Using quarterly data for a group of 20 industrialized countries and both continuous- and discrete-time duration models, we show that financial crisis recessions are associated with a two- to three-fold increase in the likelihood of the end of a housing boom. Additionally, recessions preceded by booms in mortgage credit are especially damaging, as their occurrence coincides with an increase in the duration of housing market slumps of almost 90%.
The real effect of financial crises in the European transition economies1
2010
The aim of this work is to assess the impact of financial crises on output for 11 European transition economies (CEECs). The results suggest that financial crises have a significant and permanent effect, lowering long-term output by about 17 percent. The effect is more important in smaller countries, with relative higher dependence on external financing, and in which the banking sector noticed more important financial disequilibria. We also found that fiscal policy measures have been the most efficient tools in dealing with the crises, while the role of monetary policy instruments has been rather blinded. Exchange rate resulted to be more a propagator than a crises absorber, while the IMF c…
Financial crises in historical perspective: Parallels between the past and present
2014
The outbreak of the financial crisis in 2007 has increased the interest in the study of financial history and, mainly, from compared studies on international financial crises. To this end, Investigaciones de Historia Economica-Economic History Research has set out to publish a special issue, welcoming the research on past financial crises into its pages. This issue consists of five papers, summarized in this introduction, that revolve around three large topics: the significance of sources and their use to understand the origin of financial crisis as well as their regulatory consequences; comparisons between major crises, and the study of financial crises’ causes and the measures taken to ri…
Effects of the degree of financial constraint and excessive indebtedness on firms’ investment decisions
2021
Abstract The aim of this paper is to provide empirical evidence of the importance of financial variables in explaining differences in investment rates among firms. The main contributions of the study are twofold: the use of a variable that approximates the degree of financial constraint, and the effect of indebtedness on investment is allowed to be non-linear. The empirical application to the case of Spain is of interest because of the large proportion of SMEs among Spanish firms (SMEs being highly dependent on bank financing) and the drastic tightening of credit conditions in Spain during the banking crisis. The results provide evidence of the impact of financial constraints on firms’ inve…