Search results for "Profit"
showing 10 items of 406 documents
Sustainable and Conventional Banking in Europe
2020
At the end of the 20th century a new banking model, the so-called ethical banking, emerged becoming the maximum exponent of a socially responsible investment. The financial crisis in 2008 led to a distrust of the conventional financial system and consequently investors began to look with interest this new banking, which only invests in ethical activities and products, with social and environmental criteria, total transparency and a democratic management. The aim of this article is to analyze the economic structure of ethical banking, compared to that of conventional banking, by paying attention to its liquidity, coverage and solvency. Specifically, We compare the financial statements of Tri…
Quels sont les effets de la pression exercée par les analystes financiers ? Le cas Carrefour
2010
International audience; L'étude du remplacement du dirigeant emblématique de l'entreprise Carrefour, au début de l'année 2005, permet d'illustrer le rôle disciplinaire joué par les analystes financiers, ainsi que les effets pervers résultant de la pression exercée par ces derniers sur la qualité des états financiers. En effet, il apparaît que l'ancien dirigeant a géré les résultats à la hausse au cours des deux années précédentes, pour éviter d'annoncer une « mauvaise surprise » (un bénéfice de l'exercice inférieur aux bénéfices prévus par les analystes), alors que le nouveau dirigeant a eu tendance à « nettoyer » les comptes dès sa prise de fonction.
The Financial Costs in Energy Efficient District. Alternative Scenarios from the Demo Sites of the CITyFiED Program
2021
The European Union’s environmental policies actively promote the transition to a low-carbon society and to sustainable energy systems that improve people’s quality of life and do not negatively impact the natural environment. To achieve these goals, the European Union funded several programs to pilot energy efficiency measures for buildings and districts and, lately, launched the European Green Deal. The results of these experimentations have shown that often the economic feasibility of retrofitting interventions is not achieved without public grants. This contribution aims to analyze the influence of financial parameters on the profitability of projects of energy efficient districts. The s…
FISCALITY – RELEVANT FACTOR INFLUENCING THE BUSINESS ENVIRONMENT
2013
Main tool for macroeconomic management - fiscal policy consists in establishing the levels of taxation and spending in order to influence macroeconomic performance. Fiscal policy, promoted by the government authorities of any contemporary state, is directed usually to achieving microeconomic and macroeconomic goals deriving from the roles the state must fulfill in the economy, respectively the allocative role, distributive, regulatory and the stabilizer role. Governmental authorities, through the production and supply of public goods that are financed at the expense of taxes or duties, or on the public debt, affect both individuals’ utility functions and production functions of economic age…
Audit Quality and Corporate Governance: Evidence from the Microfinance Industry
2012
This study uses a unique, hand-collected sample of microfinance institutions from 73 countries that typically are not investigated in accounting research to analyze the relationships between audit quality and governance mechanisms. We examine two measures of audit quality, namely, the use of Big Four auditors and the presence of internal auditors who report to the boards of these institutions. The empirical analysis of this study reveals that these two quality metrics are highly related, although we also demonstrate that these metrics capture distinctive aspects of audit quality. In particular, the presence of internal auditors is related to other indicators of stricter governance, whereas …
Occupazione, profitto e capabilities in una professione tradizionalmente femminile
2021
Questo saggio si propone di fare una ricognizione degli studi che in Italia, a partire dagli anni Sessanta, hanno trattato il tema del Servizio sociale e della propria identità di genere. A tale scopo viene svolta una desk analysis e una literature review sul tema dei livelli occupazionali degli assistenti sociali che si incrocia inevitabilmente con quello del genere. Sotteso al tema occupazionale è quello ben più spinoso del posizionamento di ruolo negli organigrammi lavorativi dei professionisti e delle professioniste. La tematizzazione critica del gender mainstreaming come strategia di policy making interseca, infatti, il rapporto tra democrazia e potere, insieme alle ricadute e le impli…
Bootstrapping profit change: An application to Spanish banks
2012
The aim of this study is to provide a tool which enables us to conduct statistical analysis in the context of changes in productivity and profit. We build on previous initiatives to decompose profit change into mutually exclusive and exhaustive sources. To do this we use distance functions, which are calculated empirically using linear programming techniques. However, we may not learn a great deal by solving these linear programs unless methods of statistical analysis are used to examine the properties of the relevant estimators. Our purpose is to provide a methodology based on bootstrap that allows us to conduct statistical inference for the profit change decomposition. Thus, it will be po…
Improving energy efficiency of commercial buildings by Combined Heat Cooling and Power plants
2020
Abstract Commercial buildings play a key-role in the energy consumption of the building sectors. Recent statistics have shown that as the number of commercial buildings is continuously increasing, their effects on energy consumption are expected to grow. These buildings are characterized by high energy demand mainly due to lighting and HVAC requirements. Rooms of energy saving exist by considering that: (i) electricity demands and HVAC requirements occur simultaneously during the day and (ii) both demands are currently satisfied by using separate energy systems. It is apparent that the adoption of polygeneration systems could represent a valid solution to achieve energy savings. To this aim…
La integraciin vertical hacia atrrs y la rentabilidad econnmica de las empresas manufactureras (Backward Vertical Integration and Economic Profitabil…
2015
Spanish Abstract: El objetivo de este trabajo es analizar la relacion que existe entre la rentabilidad economica de las empresas manufactureras y la integracion vertical, asi como conocer cuales son las caracteristicas que determinan que una empresa tome la decision de integrarse verticalmente. De los resultados obtenidos podemos destacar los siguientes aspectos: en primer lugar, la integracion vertical de las empresas de la industria agroalimentaria es determinante de la rentabilidad economica y; en segundo lugar, tambien hemos comprobado la existencia de una relacion directa entre la integracion vertical y la especificidad, mostrando que las empresas con productos y activos mas especifico…
Financial Sector Reform after the Crisis: Has Anything Happened?
2013
We analyze the reaction of stock returns and CDS spreads of banks from Europe and the United States to four major regulatory reforms in the aftermath of the subprime crisis, employing an event study analysis. In contrast to the public perception that nothing has happened, we find that financial markets indeed reacted to the structural reforms enacted at the national level. All reforms succeeded in reducing bail-out expectations, especially for systemic banks. However, banks’ profitability was also affected, showing up in lower equity returns. The strongest effects were found for the Dodd-Frank Act (especially the Volcker rule), whereas market reactions to the German restructuring law were s…