The adoption of Covid-19 financial statements’ exemptions by Italian firms: an empirical analysis

The aim of the research is to analyse the most relevant quantitative impacts on financial statements of the last 2020 regulatory changes (Italian D.L 104/2020) by shedding light on the magnitude of drivers that led the Italian companies to re-evaluate their corporate assets and to interrupt the depreciation and amortisation process. Then, multivariate regressions have been performed to identify the magnitude of the determinants of the corporate assets’ revaluation and the interruption of the depreciation and amortisation process. The main significant variables of Model 1 – asset’s revaluation are 2020 net income and the equity without considering the impact of the revaluation reserve. For what concerns Model 2 – interruption of the depreciation and amortisation process, the mostly significant variables are changes in revenue, EBITDA, net income and the value of the non-current assets. For both of them, the variable size is significant as well.