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Italian Ordinary Statute Regions & Derivatives

Giulia Fantini Orcid Logo, Chiara Oldani Orcid Logo

CAMA Working Paper, Volume: 43/2015

Swansea University Author: Giulia Fantini Orcid Logo

Abstract

Regions are first-level local administrations in Italy. Since 2003, regions have extensively used over-the-counter (OTC) derivatives. Since the use of these derivatives is not clearly regulated, derivatives have been employed to hedge outstanding debt and its costs, but there is evidence that deriva...

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Published in: CAMA Working Paper
Published: 2015
Online Access: https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/6753/italian-ordinary-statute-regions-and-derivatives
URI: https://cronfa.swan.ac.uk/Record/cronfa24997
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last_indexed 2019-05-15T15:21:33Z
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fullrecord <?xml version="1.0"?><rfc1807><datestamp>2019-05-15T11:56:09.5408750</datestamp><bib-version>v2</bib-version><id>24997</id><entry>2015-12-08</entry><title>Italian Ordinary Statute Regions &amp; Derivatives</title><swanseaauthors><author><sid>290e83934e79a0a29aec6575e0f82262</sid><ORCID>0000-0001-6923-0929</ORCID><firstname>Giulia</firstname><surname>Fantini</surname><name>Giulia Fantini</name><active>true</active><ethesisStudent>false</ethesisStudent></author></swanseaauthors><date>2015-12-08</date><deptcode>BAF</deptcode><abstract>Regions are first-level local administrations in Italy. Since 2003, regions have extensively used over-the-counter (OTC) derivatives. Since the use of these derivatives is not clearly regulated, derivatives have been employed to hedge outstanding debt and its costs, but there is evidence that derivatives have also been used to pay current expenses. This study empirically investigates the dynamics the debt of Italian Ordinary Statute Regions and the impact of OTC derivatives during the 2007-2012 period, and the results show that derivatives &#x2013; as measured by negative market value &#x2013; have a positive and statistically significant relationship with debt.</abstract><type>Working paper</type><journal>CAMA Working Paper</journal><volume>43/2015</volume><publisher/><keywords>Derivatives, Italian Regions, Local Public Debt, Financial Management</keywords><publishedDay>12</publishedDay><publishedMonth>11</publishedMonth><publishedYear>2015</publishedYear><publishedDate>2015-11-12</publishedDate><doi/><url>https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/6753/italian-ordinary-statute-regions-and-derivatives</url><notes></notes><college>COLLEGE NANME</college><department>Accounting and Finance</department><CollegeCode>COLLEGE CODE</CollegeCode><DepartmentCode>BAF</DepartmentCode><institution>Swansea University</institution><apcterm/><lastEdited>2019-05-15T11:56:09.5408750</lastEdited><Created>2015-12-08T17:40:28.3866348</Created><path><level id="1">Faculty of Humanities and Social Sciences</level><level id="2">School of Management - Accounting and Finance</level></path><authors><author><firstname>Giulia</firstname><surname>Fantini</surname><orcid>0000-0001-6923-0929</orcid><order>1</order></author><author><firstname>Chiara</firstname><surname>Oldani</surname><orcid>0000-0002-0203-3864</orcid><order>2</order></author></authors><documents/><OutputDurs/></rfc1807>
spelling 2019-05-15T11:56:09.5408750 v2 24997 2015-12-08 Italian Ordinary Statute Regions & Derivatives 290e83934e79a0a29aec6575e0f82262 0000-0001-6923-0929 Giulia Fantini Giulia Fantini true false 2015-12-08 BAF Regions are first-level local administrations in Italy. Since 2003, regions have extensively used over-the-counter (OTC) derivatives. Since the use of these derivatives is not clearly regulated, derivatives have been employed to hedge outstanding debt and its costs, but there is evidence that derivatives have also been used to pay current expenses. This study empirically investigates the dynamics the debt of Italian Ordinary Statute Regions and the impact of OTC derivatives during the 2007-2012 period, and the results show that derivatives – as measured by negative market value – have a positive and statistically significant relationship with debt. Working paper CAMA Working Paper 43/2015 Derivatives, Italian Regions, Local Public Debt, Financial Management 12 11 2015 2015-11-12 https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/6753/italian-ordinary-statute-regions-and-derivatives COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University 2019-05-15T11:56:09.5408750 2015-12-08T17:40:28.3866348 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Giulia Fantini 0000-0001-6923-0929 1 Chiara Oldani 0000-0002-0203-3864 2
title Italian Ordinary Statute Regions & Derivatives
spellingShingle Italian Ordinary Statute Regions & Derivatives
Giulia Fantini
title_short Italian Ordinary Statute Regions & Derivatives
title_full Italian Ordinary Statute Regions & Derivatives
title_fullStr Italian Ordinary Statute Regions & Derivatives
title_full_unstemmed Italian Ordinary Statute Regions & Derivatives
title_sort Italian Ordinary Statute Regions & Derivatives
author_id_str_mv 290e83934e79a0a29aec6575e0f82262
author_id_fullname_str_mv 290e83934e79a0a29aec6575e0f82262_***_Giulia Fantini
author Giulia Fantini
author2 Giulia Fantini
Chiara Oldani
format Working paper
container_title CAMA Working Paper
container_volume 43/2015
publishDate 2015
institution Swansea University
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
url https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/6753/italian-ordinary-statute-regions-and-derivatives
document_store_str 0
active_str 0
description Regions are first-level local administrations in Italy. Since 2003, regions have extensively used over-the-counter (OTC) derivatives. Since the use of these derivatives is not clearly regulated, derivatives have been employed to hedge outstanding debt and its costs, but there is evidence that derivatives have also been used to pay current expenses. This study empirically investigates the dynamics the debt of Italian Ordinary Statute Regions and the impact of OTC derivatives during the 2007-2012 period, and the results show that derivatives – as measured by negative market value – have a positive and statistically significant relationship with debt.
published_date 2015-11-12T03:29:43Z
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score 11.013799

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