The aim of this research is to analyze the cost impact of work factor of production on the company’s financial statements for Italian companies listed on the FTSE MIB. Following a study of such cost in its various components, we have identified those with the biggest impact on the total work cost. Specifically, we have analysed, on one hand, the salary cost and other entries relating to employees; on the other, we have considered the company costs arising from taxation. In addition, we have examined whether there is any difference in terms of the impact of work cost with regards to the specific economic sectors of the companies under consideration. It emerged a correlation between salary costs and operating costs, and between salary costs and turnover. This is due to the human factor being a highly important input in the company’s production process and influencing the revenues made by the company through selling goods and services. This correlation is particularly evident within those economic sectors that are characterised by a high level of labour, among which are industrial products and services, travel and leisure, health. In addition, a strong correlation between social security costs and operating costs has been identified. As operating costs vary social security costs also tend to change, despite being theoretically stricter due to their fiscal element. Finally, a time variable correlation has arisen between the other personnel costs and turnover. This study brings literary contributions to the subject on an empirical level. The impact of work cost has been verified and quantified using a particularly representative sample. The sample itself constitutes 84% of the capitalization of the Italian stock market, which represents an international benchmark index, and makes it possible to describe the Italian economic texture in detail.
An analysis of Work Cost in Companies Listed on the FTSE MIB
GIACOSA, Elisa;GIOVANDO, Guido
2013-01-01
Abstract
The aim of this research is to analyze the cost impact of work factor of production on the company’s financial statements for Italian companies listed on the FTSE MIB. Following a study of such cost in its various components, we have identified those with the biggest impact on the total work cost. Specifically, we have analysed, on one hand, the salary cost and other entries relating to employees; on the other, we have considered the company costs arising from taxation. In addition, we have examined whether there is any difference in terms of the impact of work cost with regards to the specific economic sectors of the companies under consideration. It emerged a correlation between salary costs and operating costs, and between salary costs and turnover. This is due to the human factor being a highly important input in the company’s production process and influencing the revenues made by the company through selling goods and services. This correlation is particularly evident within those economic sectors that are characterised by a high level of labour, among which are industrial products and services, travel and leisure, health. In addition, a strong correlation between social security costs and operating costs has been identified. As operating costs vary social security costs also tend to change, despite being theoretically stricter due to their fiscal element. Finally, a time variable correlation has arisen between the other personnel costs and turnover. This study brings literary contributions to the subject on an empirical level. The impact of work cost has been verified and quantified using a particularly representative sample. The sample itself constitutes 84% of the capitalization of the Italian stock market, which represents an international benchmark index, and makes it possible to describe the Italian economic texture in detail.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
