Going concern modifications and related disclosures in the Italian stock market: do regulatory improvements help investors in capturing financial distress?

Journal of Management and Governance - This paper investigates the investor reaction to audit reports containing a going concern modification (GCM) in the Italian market following new amendments...     

Evaluations of Women and Men Among Black and White College Students1

Rainwater's assertion that blacks have low self-evaluations because they receive more negative evaluations from other blacks than whites receive from other whites is challenged here by reference to Heiss and Owens evidence that negative self evaluation among blacks is limited to work-related traits. Substantial support was found for our major hypotheses that, compared to whites, (1) blacks would report more negative evaluation of “most men” but not of “most women” (since the provider role is traditionally ascribed primarily to men), and (2) the more negative evaluation of “most men” by blacks would be limited to work-related traits.     

Race,Sex, and Perception of the Occupational Opportunity Structure among College Students*

Questionnaires were administered to 70 black female, 75 black male, 1,457 white female and 1,429 white male university freshmen. In order to test three alternative theories regarding perceptions of discrimination, analyses of variance related sex, race, and SES to total scores of perceived occupational discrimination against blacks (BDST) and against women (WDST). Blacks perceived significantly more discrimination against black people than did whites; neither sex nor SES differentialed scores on BDST. Black females and white males perceived significantly more discrimination against women than did white females; black females had the highest and white females the lowest WDST scores. A discriminant analysis on white females indicated that high WDST scorers were characterized by an “underdog syndrome” whereas low WDST scorers held internal, individualistic values. The findings indicated the greatest support for the formulation that differential anticipatory socialization into the role of “a person who is discriminated against” characterized white females who perceived more or less discrimination against women.     

A visual planning solution to streamline the processes of hybrid cross-dockings

Cross-docking is a logistic strategy widely adopted both in manufacturing and distribution contexts. Despite the huge number of researches on this topic, most of them remain rather theoretical as they do not pay enough attention to operational aspects and daily functioning patterns of cross-dockings. This article aims at introducing a new focus for cross-docking research by proposing a visual planning solution to manage daily operation of a manufacturing cross-docking. By avoiding complex optimization algorithms and by adopting concepts belonging to the lean management theory, the article shows the potential of visual planning techniques to improve performance of cross-dockings. Starting from a specific industrial context, the shipping warehouse of an Italian company of the oil andand gas sector, a visual management methodology has been proposed to support the operation of cross-dockings. Although developed in a particular context, the proposed methodology and its underlying principles are to be considered general and potentially applicable to a wide range of cross-dockings. The methodology fully exploits an analytical tool, namely, the Safety Margin coefficientthat could be used for capacity planning purposes and to evaluate quantitatively the system performance at a given time instant.     

CDS and rating announcements: changing signaling during the crisis?

In parallel with the development of credit derivatives market, researchers have begun to explore the relationship between Credit Default Swap (CDS) market and rating events. Many papers, via classical event-study methodology, show that CDS market is able to signal future negative rating events announced by credit rating agencies. In this work, we incorporate into the event-study methodology the ability of Markov switching models in modeling state-dependent means and variances. This approach allows to get over the drawbacks of the classical methodology, which ignores the heteroscedasticity and volatility clustering often affecting financial time series. The proposed methodology is applied to study the reactions of CDS quotes to reviews for downgrading and effective downgradings announced by the three major credit rating agencies (Fitch Ratings, Moody’s, Standard and Poor’s), in order to examine if and to what extent CDS market anticipates announcements related with a company’s creditworthiness. The analysis, focusing mainly on volatility, is performed on two periods, 2004–2006 and 2007–2009, in order to verify whether a change in the signaling power of CDS quotes can be ascribed to recent financial turmoils.     

How Far is Campania from the Best-Performing Region in Italy? A Territorial-Divide Analysis of Separate Waste Collection

Social Indicators Research - The aim of this paper is to investigate the divides in separate waste collection (SWC) between Campania and Veneto from a twofold perspective that considers both...