Template-type: ReDIF-Article 1.0 Author-Name: Francesco Giunta Title: Detecting Earnings Manipulations: Time think about european SMEs. A call for a Joint International Research Project Abstract: Classification-JEL: Keywords: Note: Pages:5-15 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53425&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002001 Number: 1 Template-type: ReDIF-Article 1.0 Author-Name: Tommaso Fabi Author-Name: Enrico Laghi Author-Name: Marco Mattei Author-Name: Alessandro Sura Title: Comparing the effects of IASB Proposal on leasing: an impact assessment of EU listed Companies Abstract: In August 2010, the IASB and the FASB jointly released an exposure draft proposing a "right-of-use" model for the recognition of lease-related assets and liabilities. The literature shows that leasing is a relevant subject for study. Many studies have investigated the point of view of users and preparers about lease accounting. Moreover, significant studies on the impact assessment of new accounting models for leases have been conducted. The objective of this paper is to perform an impact assessment of the new standard on leases that takes into account companies listed on the main EU stock exchanges. Specifically, this paper try to estimate the magnitude of the change in some ratios that would have been produced by the new treatment with reference to 2011. The results of the paper show that the debt-to-equity ratio increased significantly and, subject to the IASB final decisions on profit or loss accounting, the EBITDA should also have increased, while ROA should not significantly be affected. Furthermore, the results show that the impact of the introduction of the IASB proposal on financial ratios will differ both among industries and among European Union countries. Classification-JEL: Keywords: Note: Pages:17-57 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53426&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53426 Template-type: ReDIF-Article 1.0 Author-Name: Enrico Laghi Author-Name: Michele Di Marcantonio Author-Name: Eugenio D'Amico Title: Estimating credit default swap spreads using accounting data, market quotes and credit ratings: the European Banks Case Abstract: The aim of this paper is to define a model for estimating the theoretical Credit Default Swap spread of European banks considering firms? accounting data, market quotes, official ratings and macroeconomic variables. We detect a significant log-linear relation between Credit Default Swaps spreads and four explanatory variables determined on the basis of the stock price, the financial structure, the equity composition, the incidence of the reserve for loan losses on total loans, the official ratings and macroeconomic indicators of the country of domicile of each company. The empirical results show that for the period from 2008 to 2013 the model has a high statistical significance and a remarkable explanatory power. Our main contribution to the existing literature is the exploration of new determinants of banks? credit risk and the provision of new evidence on the determinants of banks? default risk in the crisis and post-crisis European context. Furthermore, we define a practical model for estimating Credit Default Swap spreads of banks suitable for professional use. Classification-JEL: Keywords: Note: Pages:59-81 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53427&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53427 Template-type: ReDIF-Article 1.0 Author-Name: Alessandro Mechelli Author-Name: Riccardo Cimini Title: The value relevance of earnings and book value across the EU. A comparative Analysis Abstract: This paper aims to investigate whether the value relevance of accounting amounts differs across nations depending on the country characteristics identified by Nobes (2008) and Nobes and Parker (2010) that is the source of funds, the legal system and the fiscal legislation that led them to identify, in the EU, the so-called strong-equity and the weak-equity countries. Because of the different disclosure needs, our hypothesis is that insiders, within the strong-equity countries, disclose more relevant information than in weak-equity countries. To test this hypothesis, we analysed a sample including all the listed entities belonging to the EU at the time of the issuance of EU Regulation 1606/2002. The sample covered the period of 2006-2011 and included 16,513 firm-year observations. Our sample selection strategy allowed us to include entities required to comply with the same accounting standards (IAS/IFRS), so our findings do not depend on differences between requirements of different standard setters. Comparatively, our findings demonstrate that the value relevance of accounting amounts not only is higher in strong-equity countries than in weak-equity countries - validating our research hypothesis - but also that it is not driven by specific firms? characteristics that are the size, the future growth opportunity and the source of funds of the single entity. Classification-JEL: Keywords: Note: Pages:83-113 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53428&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53428 Template-type: ReDIF-Article 1.0 Author-Name: Giuseppe Sannino Author-Name: Gianluca Ginesti Author-Name: Carlo Drago Title: Impairment estimates for available-for-sale equity instruments under IFRS: evidence from italian Banks Abstract: Literature indicates that accounting choices under a given set of standards is an important topic due to the different economic implications. Daske et al. (2013) suggest that firms have substantial discretion in applying IFRS. Despite the implications on how the firms apply IFRS have motivated many studies, to our knowledge, little is known about the impairment estimates for the Available-for- Sale (AfS) equity instruments. Using a sample of Italian banks over the period 2010-2011, we investigate the determinants of the accounting decisions for impairment estimates. We find that the reporting quality and profitability are explanatory factors of the banks? decisions to modify the thresholds of the impairment indicators used to assess AfS equity instruments. Our study also suggests that banks use a substantial discretion in implementing the IAS 39 for the AfS equity instruments. Classification-JEL: Keywords: Note: Pages:115-140 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53429&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53429 Template-type: ReDIF-Article 1.0 Author-Name: Vincenzo Sforza Title: Dialogue with standard setters Abstract: Classification-JEL: Keywords: Note: Pages:141-154 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53430&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53430 Template-type: ReDIF-Article 1.0 Author-Name: Maria Elena Olante Title: Towards the international convergence of accounting standards: the case of Business Combinations and Goodwill Abstract: Accounting for business combinations and for goodwill has profoundly changed during the last ten years both in the US and in Europe, as a consequence of the common effort of the FASB and the IASB towards the international convergence of accounting standards. The Business Combinations project has been the first major project undertaken jointly by the accounting standard setters and it has resulted in the issue of substantially converged accounting standards with some remaining differences. The aim of this paper is to review and comment the evolution and the major changes occurred in accounting for business combinations and for goodwill and their current status in the light of the process of convergence of accounting standards on these crucial economic transactions. Classification-JEL: Keywords: Note: Pages:155-170 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53431&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002007 Number: 7 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53431 Template-type: ReDIF-Article 1.0 Author-Name: Simone Aresu Title: Book review Abstract: Classification-JEL: Keywords: Note: Pages:171-178 Volume: 2014/2-3-4 Year: 2014 Issue:2-3-4 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=53432&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:Frfrfr:v:html10.3280/FR2014-002008 Number: 8 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=53432