Italian banks and financial intermediaries are subject to extensive regulation which has evolved throughout the country's history. There has also been much change to the country's financial regulation in recent years in response to the globalization of markets and intermediaries. The Italian administrative and regulatory system is often perceived as a major obstacle to economic productivity, and some causes of this ineffectiveness are deeply rooted and date back to the Italian unification and juridical culture. This book provides an overview of the Italian regulation of banking and financial activities, and tracks the evolution of its 'economic Constitution' and market trends. It explores a range of topics within Italian regulation, including the regulation of banking activities, investment services and collective portfolio management. It examines in detail the relationship between intermediaries and customers, public offerings of financial instruments and products, public takeover bids, listed companies, insurance and reinsurance business. Among other current topics the authors discuss the link between investor protection and confidence in the financial markets; and assess the financial markets as a source of financing for companies.

This book discusses the role of business models in corporate reporting. It illustrates the evolution of non-financial reporting, the importance of business model reporting, and the main conceptualisations of business models. It also offers a methodological contribution to the assessment of business model reporting. Finally, it discusses the main implication of business model reporting for different categories of subjects and some challenges related to this kind of disclosure. Readers will understand the role of business models in the non-financial reporting landscape. They will also gain an understanding of how business models can help users of the annual report contextualise other non-financial items disclosed. However, effective business model reporting implies paying attention to certain features that define its quality. This theme is discussed in the empirical part of the book and in the section devoted to implications for preparers, users, and regulators. As large companies in the EU and the UK have to disclose the business model in the annual report, this book will be of interest to preparers and users of financial statements, regulators involved in the ongoing non-financial regulatory process, and professional bodies. It will also be of interest to academics interested in the investigation of non-financial reporting.

-A key title to show how psychology can be used to inform and affect policy - especially timely in the midst of the global pandemic and economic crisis -Covers a range of domains: health, environment, education, economics, work -Illustrated throughout with case studies and major empirical examples, and includes end-of-chapter questions, glossary and key concept boxes -Includes international range of contributors from academic and professional contexts. -Ideal for psychology and non-psychology students, as well as professionals looking for an accessible overview of the key topics. -This edition includes a new chapter showcasing the work of the Canadian Government's behavioral insights unit.

Land Tax in Australia demonstrates how land tax operates and is administered across State and local governments in Australia. International expert Vincent Mangioni reviews the current status and emerging trends in these taxes in Australia and compares them with the UK, USA, Canada, Denmark and New Zealand. Using substantial original research, the author sets out what Australia must do through practice and policy to reform and bring this tax into the 21st Century. The need for fiscal reform and strengthening the finances of Australia's sub-national government is long overdue. These reforms aim to minimise the taxpayer revolts encountered in previous attempts at land tax reform, while improving tax effort in line with other advanced OECD countries. This book provides an essential resource for all property professionals working in development, valuation, law, investment, as well as accountants, tax economists and government administrators. It is highly recommended for students on property, taxation, legal and social science courses.

Advances in Accounting Education is a refereed, academic research publication whose purpose is to help meet the needs of faculty members interested in ways to improve accounting classroom instruction at the college and university level. We publish thoughtful, well-developed articles that are readable, relevant, and reliable. Articles may be either empirical or non-empirical, and should emphasize pedagogy, i.e., explaining how faculty members can improve their teaching methods or how accounting units can improve their curricula and programs.

Public Economics: A Concise Introduction provides a concise and non-technical overview of the role of government in the economy. Using the questions 'why?', 'what for?' and 'how?', the text initially surveys the place of the public sector in a market economy. It then considers the possible reasons which could justify government involvement. Next, the book examines the aims of state economic activity, and the instruments which a government has at its disposal. Lastly, the final chapter provides an illuminating tour of economic history and history of economic thought in relation to government economic activity. The book offers an international focus throughout, with examples taken from all over the globe. Readers are supported with a range of pedagogical features, including example boxes, chapter objectives and summaries, and end-of-chapter multiple choice and reflection questions. Public Economics: A Concise Introduction will be a valuable text for students on courses in public economics, welfare economics, public finance, public policy and related areas.

Public Economics: A Concise Introduction provides a concise and non-technical overview of the role of government in the economy. Using the questions 'why?', 'what for?' and 'how?', the text initially surveys the place of the public sector in a market economy. It then considers the possible reasons which could justify government involvement. Next, the book examines the aims of state economic activity, and the instruments which a government has at its disposal. Lastly, the final chapter provides an illuminating tour of economic history and history of economic thought in relation to government economic activity. The book offers an international focus throughout, with examples taken from all over the globe. Readers are supported with a range of pedagogical features, including example boxes, chapter objectives and summaries, and end-of-chapter multiple choice and reflection questions. Public Economics: A Concise Introduction will be a valuable text for students on courses in public economics, welfare economics, public finance, public policy and related areas.

Lombardy, with about 10 million inhabitants, is today the most populated and prosperous region of Italy, and Milan is a renowned capital of art, fashion and design. During the 19th century until WWI, the region gradually became the leader in Italy's economic development and distinguished itself in the European economic landscape for its long-standing industrial strength and diversified economy, which included one of the Europe's most productive agricultural systems. It was the economic locomotive of contemporary Italy, contributing to the economic Risorgimento that complemented the country's political resurgence. The present volume gathers the contributions of some major experts on the subject, providing an in-depth analysis of Lombardy's pattern of development, consisting of an exceptionally symbiotic and balanced interplay of sectors (agriculture, industry, trade, and banking) in a gradual yet steady growth process, also supported by progress in the education system. During the century, there was a shift away from an economy based on agriculture and commerce to a progressively more industrial economy and this process accelerated from the 1880s. The secret of this dynamic balance was Lombardy's active relationship with the rest of Europe and with the international markets. Aimed at scholars, researchers and students in the fields of early modern and modern history, economic and social history, the book provides a clear explanation of Lombardy's economic development during the long 19th Century.

Boards and business leaders expect their key advisors to deliver fresh insights, and increasingly expect them to demonstrate foresight. To achieve what is expected, it is crucial to understand the dynamics of conversations in the boardroom and around the audit committee table. This book provides those unique perspectives. The journey from the 'mailroom to the boardroom' follows the story of a young banker who moved into the internal auditing profession as part of the 'new breed', then rose through the ranks into senior leadership and chief audit executive roles, before assuming audit committee and board roles that had an immense influence on governance, risk, compliance, and audit professionals. Success does not always follow a smooth and uneventful trajectory, and this story reflects insights from both the ups and the downs of the journey. Each chapter shares insights, better practices, case studies, practical examples, and real-life challenges and draws them together into 101 building blocks, each one providing crucial career-long learnings. The storytelling provides insights to people at all levels on the importance of positioning oneself to step into leadership roles, helps them understand how to evaluate and pursue potential career growth opportunities, provides tips on how to holistically manage and advance their career, and inspires higher-level thinking that enhances governance, risk, compliance and audit practices.

Financial schemes for flood recovery, if properly designed and implemented, might increase flood resilience. However, options for the increase of flood resilience during the recovery phase are to a large extent overlooked and the diversity of existing schemes shows that there has been a lack of consensus on how to achieve resilient flood recovery. Financial Schemes for Resilient Flood Recovery investigates how the implementation of financial schemes (government relief subsidies, insurance schemes, buy-outs, etc.) might increase flood resilience. The chapters included in this edited volume address the following questions: Shall government relief subsidies exist when there is flood insurance in place, and, if so, how might they both be coordinated? Where (or how) to decide about build back better incentives and where to go for planned relocation programs? What is the distributional equity of financial schemes for flood recovery, and has it been sufficiently treated? The book covers different approaches to flood recovery schemes with specific intervention rationales in different countries. Empirical evidence provided clearly shows the great diversity of financial flood recovery schemes. This diversity of state-funded schemes, private-based insurance schemes, and hybrids as well as planned relocation schemes indicates a lack of a consistent and strategic approach in flood risk management and flood resilience about flood recovery. The chapters in this book were originally published in the Environmental Hazards.

The recent global economic crisis has highlighted the importance of strong corporate governance systems. The failure of many of the 'gatekeepers' (i.e. auditors) to protect the efficiency of the financial markets has left many wondering whether there exists a sound model of corporate governance and if so, what the features of such a model are.
"The International Corporate Governance System: Audit Roles and Board Oversight" provides a comprehensive legal, economic and financial approach to corporate governance. It addresses the practical aspects of corporate governance, auditing and risk management whether within principles-based regulatory approach or the rules-based approach. Starting with the OECD principles, their application by both the IMF and the World Bank, the book analyzes and compares corporate governance systems in the US, the UK, Canada, Australasia, Japan, Continental Europe, the BRICS, Saudi Arabia. The book moves on to analyze the audit roles and legislations in the US (SOX Act), the EU Statutory Audit Directive, the ROSC, the Audit Scandals, the auditors' liabilities, and the future of auditing. Finally, the author provides comprehensive coverage of the board oversight function, the management fraud types and the role of the audit committee.
"The International Corporate Governance System" is geared to a large public of lawyers, economists, financiers, and accountants who want to enhance their knowledge and skills in this interdisciplinary field. Business school students, law graduates, economics graduates will learn how law and regulation affect management practices, strategies and aims. Likewise, government officials, risk managers, chief financial officers, chief operating officers in charge of supervision and enforcement of laws and regulations will find a guide in their difficult environment.

This convenient reference tool is designed for real estate investors who wish to maximize their tax benefits through a better understanding of real estate law. Ferguson and Spede thoroughly analyze and explain real estate tax laws, as well as the problems and advantages of purchasing, owning, and selling real estate. Specifically explained and illustrated are such issues as calculating excess investment and interest, installment selling, alternative minimum tax, investment credits, recapture of tax credits, trading properties, leases with options to buy, and the establishment of new bases for trade. In addition, the authors emphasize many of the tax traps and pitfalls encountered by investors, including accelerated depreciation, amortization of expenses, and tax write-offs. Also considered are related topics such as personal property taxes, special tax problems, the rehabilitation of historic and older commercial properties, low income housing, rental cooperatives, condominium units, and home ownership taxation. Finally, there is a discussion of tax reform, including the changes brought about by the Deficit Reduction Act of 1984, as well as the possible effects of the flat tax rate proposed by the Treasury Department in January of 1985. The volume is completely cross-referenced, and includes chapter summaries, case histories, and a glossary, as well as numerous tables and illustrations.

Pandemic Economics applies economic theory to the Covid-19 era, exploring the micro and macro dimensions of the pre-pandemic, pandemic, and post-pandemic phases. Using core economic tools such as marginal analysis, cost-benefit analysis, and opportunity cost, this book explores the breadth of economic outcomes from the pandemic. It shows that a tradeoff between public health and economic health led to widespread problems, including virus infections and unemployment. Taking an international and comparative approach, the book shows that because countries implemented different economic policies, interventions, and timelines during the crisis, outcomes varied with respect to the extent of recession, process of recovery, availability of medical equipment, public health, and additional waves of the virus. Pedagogical features are weaved throughout the text, including country case studies, key terms, suggested further reading, and discussion questions for solo or group study. On top of this, the book offers online supplements comprising PowerPoint slides, test questions, extra case studies, and an instructor guide. This textbook will be a valuable resource for advanced undergraduate and postgraduate courses on pandemic economics, macroeconomics, health economics, public policy, and related areas.

Creating the 'Big Mess' and its sequel Accounting for Crises use Marx's theory of capitalism to explain why there is no generally accepted theory of financial accounting, and explore the consequences, by studying the history of American accounting theory from c.1900 to 2007. The answer, Creating the 'Big Mess', is first that while late-19th century British accounting principles, founded on the going-concern concept, provided an objective basis for holding management accountable to shareholders for its stewardship of capital, and were accepted by the nascent American profession, they are inchoate. Second, Irving Fisher's economic theory of accounting, based on the assertion that present value is the accountants' measurement ideal, which is subjective, framed early-20th century American accounting theory, which undermined British principles, making them incoherent. In an unregulated, pro-business environment, leading theorists, particularly Henry Rand Hatfield and William A. Paton, Jr., became authorities for management discretion, creating the 'big mess' Hatfield saw in late-1920s American accounting. Accounting for Crises examines the roles of Fisher's theory in promoting the speculation leading to the 1929 Great Crash, aggravating the Great Depression, hindering accounting regulation from the 1930s, producing the Financial Accounting Standard Board's conceptual framework, and facilitating the 2007-2008 Global Financial Crisis.

--International case studies from the US, UK, Germany, Taiwan, Uganda, Italy, and Canada --As small communities, especially in rural areas, continue to lose population it will be even more important for them to rely on innovative financing approaches to retain quality of life. --Reviews the experiences in the countries identified along with approaches used to glean the common elements that make them successful and viable

First published in 1932, this volume echoed the success of Duties of the Junior Accountant and was similarly long-awaited as a textbook for the industry and aimed to instruct junior accountants in the work of their senior colleagues and future selves. Senior accountants are those who may conduct an examination independently except for a final review by a managing accountant, principal or partner. Seniors may have charge of work needing perhaps one, ten, or even more assistants or of a section of a larger examination conducted under the supervision of an accountant of higher rating. The chapters in this volume detail issues including beginning an examination, audits of banks, reviews by a principal accountant and arranging work and staff.

--International case studies from the US, UK, Germany, Taiwan, Uganda, Italy, and Canada --As small communities, especially in rural areas, continue to lose population it will be even more important for them to rely on innovative financing approaches to retain quality of life. --Reviews the experiences in the countries identified along with approaches used to glean the common elements that make them successful and viable

The Enron and WorldCom scandals and other less high profile scandals ushered in several regulatory overhauls including those provided for under the law widely known as Sarbanes-Oxley. Indeed, this was the most dynamic period save possibly the 1930s in terms of regulatory reforms to the accounting and financial reporting environment. This monograph summarizes and synthesize a decade of academic research to develop an evolving dominant explanation around these myriad changes. The overarching themes and topics in the literature that form the paradigm for this monograph include the evolving accounting and reporting model in the U.S. and internationally, the individual accounting pronouncements that support the evolving model, the scandals themselves, and the public and private sector responses to those scandals.

Little has been published on accounting standards in Japan and how they have developed. The purpose of this study is to construct a historical narrative of the interplay between accounting standards in Japan and theories of regulation. The authors demonstrate that delegation of the authority for accounting standard setting to the private sector in Japan is incomplete, and thus, the role of the public sector remains important. In the discussion about IFRS implementation in Japan, the movement in the United States, industry opinions, and ideological conflict between fair value versus historical cost play important roles. These elements combined led to the ambiguous coexistence of four sets of accounting standards in Japan. First, by using an explaining-outcome process-tracing method, the authors examine how these sets of standards occurred and explore the significance of each. Second, they deliver an explanation of this unique coexistence through the lens of theories of regulation. In doing so, they provide an overview of the history of the recent development of accounting regulation in Japan and offer an up-to-date response to current affairs or policy debates in Japan that have been rapidly changing. Providing a rare insight into accounting regulation in Japan, an IFRS non-application country, this concise text will be of great interest to researchers and advanced students in international accounting and accounting regulation.

The recent audit failures which have rocked financial markets worldwide have accentuated the need for a better understanding of the link between risk, control and audit quality; as well as emphasising the need to open the "black box" of the ways auditing firms actually function. Reflecting these imperatives, Auditing Teams unravels the organizational and management issues in audit firms that are key to achieving effectiveness in service provision. Specifically, this key research reflects upon the relevance and dynamics of auditing teams and their impact on auditing quality, and specifically responding to the recent claim from regulators which highlights auditing team characteristics as the source of wide variations in quality. By leveraging different perspectives - auditing, management accounting, organization and psychology - to investigate auditing teams and basing on evidence collected from the professional world, this book will provide a unique insight into the role of auditing teams on audit quality. It will be of great interest to scholars and advanced students in auditing, as well as to practitioners and regulators in the field.

European venture capital (VC) funds have historically underperformed their US counterparts. This has resulted in reduced investment into European VC by the traditional institutional investors. This book investigates the factors that give rise to the performance difference. It is based on the author's research at the Adam Smith Business School, University of Glasgow which involved a qualitative study of some 64 VC firms in the UK, continental Europe and the US, supplemented by 40 interviews with other stakeholders, including limited partner investors, corporate venturers, entrepreneurs and advisors. Readers will gain an in-depth understanding of the various structural, operational and wider environmental factors that impact on the performance difference between UK/European and US VC funds. The study is unique in that it provides, for the first time, a holistic and extensive analysis of the entire investment process from sourcing deals to exiting deals specifically contrasting Europe and the US in terms of the variables pertaining to the investment process and the impact on the fund performance. Factors impacting on the performance differential are structural, resulting from characteristics of the funds themselves, operational such as the investment practices of the VC firms which manage the funds and environmental such as culture and attitude to risk and the wider ecosystem in which the funds operate. These factors are set out clearly for the reader. The characteristics of the better performing funds in Europe and the US are also investigated. The book is aimed at academics who are researching venture capital fund performance and investment practices and also at practitioners, advisors and policymakers who want to learn about best VC investment practices. Whilst the book is focused on European and US VC investing, the best practices are also pertinent for VC firms and funds setting up in other geographies, particularly in emerging markets. To this end, best practice guidelines based on the research are included.

This book provides an important survey of the causes and current state of corruption across a range of nations and regions. Delving into the diverse ways in which corruption is being combatted, the book explores and describes efforts to inculcate principles of ethical conduct in citizens, private sector actors and public sector personnel and institutions. Corruption is a global condition that effects every type of government, at every level, and has bewitched scholars of governance from ancient times to the present day. The book brings together chapters on a range of state and regional corruption experiences, framing them in terms of efforts to enhance ethical conduct and achieve integrity in government practices and operations. In addition, the book addresses and analyses the theoretical and practical bases of ethics that form the background and historical precepts of efforts to create integrity in government practices, and finally assesses recent international efforts to address corruption on an international scale. This book will be perfect for researchers and upper level students of public administration, comparative government, international development, criminal justice, and corruption.

In recent years, nonprofit and voluntary organisations have faced challenges and unanticipated pressures as a result of increased competition for funding, technological advancements, the need to comply with government regulations, and increased social and community expectations regarding greater accountability and transparency. Cost accounting and cost management tools are considered to be a means of providing adequate and quality information for management control for all sorts of organisations, including nonprofits. Using empirical evidence from the Australian nonprofit sector, this research monograph offers insight into how nonprofit and voluntary organisations control and manage the costs of their operations and projects through cost accounting and cost management tools. The book will be of benefit to a range of stakeholders in the sector, including financial and management accountants, professional accounting bodies, the government, policymakers, academics, consultants and operational managers.

Through a series of studies, the overarching aim of this book is to investigate if and how the digitalization/digital transformation process affects various welfare services provided by the public sector, and the ensuing implications thereof. Ultimately, this book seeks to understand if it is conceivable for digital advancement to result in the creation of private/non-governmental alternatives to welfare services, possibly in a manner that transcends national boundaries. This study also investigates the possible ramifications of technological development for the public sector and the Western welfare society at large. This book takes its point of departure from the 2016 Organization for Economic Co-operation and Development (OECD) report that targets specific public service areas in which government needs to adopt new strategies not to fall behind. Specifically, this report emphasizes the focus on digitalization of health care/social care, education, and protection services, including the use of assistive technologies referred to as "digital welfare." Hence, this book explores the factors potentially leading to whether state actors could be overrun by other non-governmental actors, disrupting the current status quo of welfare services. The book seeks to provide an innovative, enriching, and controversial take on society at large and how various aspects of the public sector can be, and are, affected by the ongoing digitalization process in a way that is not covered by extant literature on the market. This book takes its point of departure in Sweden given the fact that Sweden is one of the most digitalized countries in Europe, according to the Digital Economy and Society Index (DESI), making it a pertinent research case. However, as digitalization transcends national borders, large parts of the subject matter take on an international angle. This includes cases from several other countries around Europe as well as the United States.