Does business model affect accounting choices? An empirical analysis of European listed companies

Financial accounting research increasingly includes business model (BM) constructs, but the ability of financial reporting to capture BM characteristics has not been verified. This study empirically explores the links between BMs and accounting choices by clustering a sample of 103 European listed companies according to an innovative, nonlinear algorithm (self-organizing map) that uses pertinent industrial, strategic, governance, and financial variables to uncover different dimensions of a BM. The authors investigate accounting choices (accounting measurement, accounting treatment, and disclosure level) by companies that belong to the different identified BMs. The analysis of the relations between different company BMs and their accounting choices indicates no significant connections, which offers empirical confirmation of the criticisms regarding the inability of financial reporting to represent (or even consider) a company’s BM. The results suggest further attempt to capture BM in financial reporting, which requires regulators to establish accounting standards that acknowledge the value creation processes of an entity and incentivize managers to represent those processes.     

Labor supply responses and welfare effects from replacing current tax rules by a flat tax: Empirical evidence from Italy, Norway and Sweden

This paper employs a microeconometric framework to examine the labor supply responses and the welfare effects from replacing current tax systems in Italy, Norway and Sweden by a flat tax on total income. The flat tax rates are determined so that the tax revenues are equal to the revenues as of 1992. The flat tax rates vary from 23 per cent in Italy, 25 per cent in Norway, to 29 per cent in Sweden. In all three countries the labor supply responses decline sharply with pre-reform disposable income. The results show that the efficiency costs of the current tax systems relative to a flat tax may be rather high in Norway and much lower, but positive, in Italy and Sweden. In all three countries “rich” households – defined by their pre-tax-reform income – tend to benefit (in terms of welfare) more than “poor” households. In Italy and Sweden a majority will lose from a shift to a flat tax, while in Norway a majority is predicted to win. Received: 19 May 1998/Accepted: 02 July 1999     

A multiple imputation approach to deal with the unity measure error

Unity measure errors (UME) in numerical survey data can determine serious bias in the estimates of interest. In this paper, a finite Gaussian mixture model is used to identify observations affected by UME and to robustly estimate the target parameters in presence of this type of error. In the proposed model, the mixture components are associated to the different error patterns across the variables. We follow a multiple imputation approach in a Bayesian setting that allows us to handle missing values in data. In this framework, the assessment of the uncertainty associated with both errors and missingness is based on repeatedly drawing from the predictive distribution of the true non contaminated data given the observed data. The draws are obtained through a suitable version of the data augmentation algorithm. Applications to both simulated and real data are presented.     

Factor Structure and Convergent Validity of the Long and Abbreviated Versions of the Multidimensional Students’ Life Satisfaction Scale in an Italian Sample

We examined the psychometric characteristics of the long and abbreviated versions of the Multidimensional Students’ Life Satisfaction Scale (MSLSS) in the Italian contexts. In study 1 we assessed the factorial validity and reliability of the long and abbreviated versions of the MSLSS among Italian adolescents, while in study 2 we assessed the convergent validity of the abbreviated Italian version of the MSLSS by examining the associations between life satisfaction and well-established measures of adjustment. Furthermore, we explored the effect of adolescent gender and age on life satisfaction. Participants in the study 1 were 996 adolescents (48 % males) from 14 to 18 years of age (M = 16.06; SD = 1.51). Participants in study 2 were 380 adolescents (52 % males) from 14 to 19 years of age (M = 15.76; SD = 1.65). Confirmatory factor analyses confirmed the hypothesized five-factor solution of the MSLSS, with a better goodness of fit for the abbreviated version of MSLSS. Moreover, indices of internal consistency revealed acceptable reliability coefficients across the five domains. Convergent validity was confirmed by the expected associations between the domains of the MSLSS and indexes of adjustment. Finally, results evidenced age differences, with oldest adolescents showing the highest levels of satisfaction on most of the domains.     

Short-distance pollen dispersal by bats in an urban setting: monitoring the movement of a vertebrate pollinator through fluorescent dyes

Pollen dispersal in tropical seed plants is established mainly by biotic vectors, both in intact and fragmented environments. In urban landscapes, the segregation of natural remnants by an artificial matrix can reduce pollinator foraging efficiency. It is unknown how nectarivorous bats, regarded as long-distance pollen dispersers, respond to such habitat structure combined with city-related factors. Here, we investigated the pollen dispersal pattern between spatially segregated individuals of the bat-pollinated Bignoniaceae Crescentia cujete within an urban environment. From 2015 to 2017, we assessed their spatiotemporal structure, breeding system and annual fruit set in order to relate these factors to the bat activity in the region. We employed fluorescent dyes as pollen analogues to infer the role of bats in pollen flow. Adding to the low density of individuals, we found a low daily flower emission and low flowering synchrony (S?=?0,092), all of which are traits that favor outcrossing. Individuals were distributed in two distant groups (>600 m), with no occurrence of dye flow between them. In contrast, flow within the same individual was intense, which points toward bats’ territorial behavior. C. cujete is self-compatible, but not autogamous; therefore, despite few outcross events, bats could be ensuring the plant’s year-round fruit production mainly through self-pollination. Our findings show restricted bat foraging extent, which affects overall pollen dispersal distance and population connectivity. These results can be extrapolated to natural metapopulations inserted in an urban matrix and serve as a groundwork for studying directly the effect of city-related factors on pollinator behavior.

     

全球法与掠夺:法治的阴暗面

"法治"(rule of law),习惯上已被当作一个具有积极本质、政治中立的"工具",且效力普适,放之四海而皆准.作为Ugo Mattei与Laura Nadar教授合著的Plunder:When the Ruleof Law is Illegal (Blackwell Publishing,Oxford 2008)一书观点的综述,本文认为,作为一个歧义丛生的概念,"法治"具有光明与阴暗的两面性,而"法治"的阴暗面长期以来一直被排除在公众讨论的范围之外."法治"作为一个华丽辞藻,已被西方强势者所挟持,用来论证其(主要)对"发展中"国家的干涉及其最终演变成的掠夺(plunder)实践的合法性,并使西方经济势力对"非西方世界"(the rest)的扩张成为可能.基于此,我们得出了这样的结论:"法治"已被"非法地"(illegally)利用.目前国际金融机构--当今的全球立法者--在用"法治"观念包裹着其提供给"发展中世界"的各种改革方案的背后,隐藏着智识短视、种族中心主义和帝国主义立场."技术性"概念对"法"概念的偷换,美国法所独享的全球性支配地位以及当今西方跨国公司的帝国主义态度等作为其中的一些指标,向我们展示了殖民主义与当今新自由主义政策之间的沆瀣一气.     

Identifying Demand and Supply of Part‐time Jobs Using Personnel Data. An Application to Italy

The percentage of part‐time workers in Italy is very low compared with most European countries. In this paper we try to contribute to an explanation. We use data on the employees of a large Italian company operating in the service sector, and apply a particular econometric framework that allows identification of potential demand and supply. We find that demand and supply are potentially very large on average, but they are difficult to match at the individual worker/job level. The firm might observe a relevant employee’s characteristics that are positively correlated with the employee’s propensity to a part‐time job but are negatively correlated with the profitability of that employee on that job. The firm might also use the revealed willingness to switch to a part‐time job as a sign that the employee is likely to be unprofitable for the company.