L

 

LCA (Life Cycle Analysis).
Analytic methodology for the evaluation and quantification of environmental impact associated to a product/process/activity along the whole life cycle, from the extraction and acquisition of raw materials up to the end of life. 

Legislative decree 231/2001 organizational model 
It is an organizational and management model contemplated by Legislative Decree no.  231/2001. The decree shifts the criminal liability of individuals for crimes committed in the interest of their organization to the organization in whose name they acted. The adoption of this organizational model provides an exemption from personal liability.


Leverage
The use of borrowed money to increase investing power.

Leveraged Buyout

Takeover of a company, using borrowed funds. Most often, the target company's assets serve as security for the loans taken out by the acquiring firm.

Liability
Claim on the assets of a company.

Liquidity

Ability to buy or sell an asset quickly and in large volume without substantially affecting the asset's price.

 

LLU (Local Loop Unbundling)
System through which OLO can rent the “last mile” of local loop, connecting to their equipments. 

 

Local
Copper wire-couple, through which the telephone connection reaches users; it is the foundation of traditional telephone lines and it is often called “last mile”.

Local Agenda 21
Chapter 28, Section III of the Agenda 21 document attributes great importance to the role of local government, "given that many issues and strategies outlined in Agenda 21 originate from local activities, the participation and cooperation of local authorities will be a key factor in achieving Agenda 21’s goals". In this regard, the Local Agenda 21 is a strategic project to encourage and control sustainable development. The preparation, management and implementation of this process require all the capacities and instruments available to local authorities and communities.

Local community
A local community is essentially the society in a territory, which retains  - along with the processes of differentiation and conflict typical of industrial societies – elements of systems of relations and social exchanges (both individual and collective) based on communal mutuality and solidarity (family and non-family) that make up the distinctive trait of their identity as a social aggregate. The emphasis is based on the relationship between a human society and its territory, and is the cornerstone of sustainability of local development; the term "local community” directly evokes the constitutive connection of our system of autonomous local administrations. The connection between local political representation and the self-government of local communities lies in this relationship.

 

Local Loop (Doppino Telefonico)
Copper wire-couple, through which the telephone connection reaches users; it is the foundation of traditional telephone lines and it is often called “last mile”. 

 

London Benchmarking Group
An organization founded in 1994 by 74 international businesses, which developed a model for measuring companies’ contributions to the community that is acknowledged as being the benchmark  for the sector.

 

LTE (Long Term Revolution)
Represents the fourth generation (4G) mobile phone systems. LTE belongs to the standard 3GPP (Third Generation Partnership Project) and it is the latest evolution of GSM / UMTS / HSPA standard. LTE offers a higher spectral efficiency in bits per Hertz and download bandwidth up to 150 Mbit/s per cell reducing the latency time. LTE enabled services that require high interactivity (e.g.,gaming, video conferencing). A further development of LTE, called "LTE Advanced", will perform bitrates even higher. 

 

M

 

Main sustainable development groups
The Rio de Janeiro Agenda 21 establishes the importance and necessity of strengthening the role of each of the following non-governmental groups in increasing sustainable development:

  • women
  • children and young people
  • indigenous peoples (or local populations)
  • non-government organizations (NGOs)
  • local authorities
  • labor unions
  • the world of business and industry
  • science and technology
  • farmers


Management Buyout

Purchase of all of a company's publicly held shares by the existing management, which takes the company private.

Management Fee

Charge against investor assets for managing the portfolio of an open- or closed-end fund as well as for such services as shareholder relations or administration.

Mark to the Market

Adjust the valuation of a security or portfolio to reflect current market values.

Market Capitalization

Value of a corporation as determined by the market price of its issued and outstanding common stock. It is calculated by multiplying the number of outstanding shares by the current market price.

Marketability
A measure of the ease with which a security can be sold in the secondary market.

Maturity
The date when the principal amount of a security is payable.

Maturity Date
Date on which the principal amount of a note, bond, certificate of deposit, or other debt security becomes due and payable.


MEMS (Micro- Electro-Mechanical-System)
MEMS are miniaturized devices ranging in size from a few micrometers to a few millimeters, which execute one or more monitoring, processing or actuation functions by deploying a combination of electronic, mechanical, optical, chemical or biological components integrated on a usually silicon hybrid circuit. 

Merger
The combining of two or more entities into one, through a purchase acquisition or a pooling of interests. It differs from a consolidation in that no new entity is created from a merger.


Methanization
The replacement of gasoil-fueled heating systems with methane-fueled systems.


Minority Interest

Interest of shareholders who, in the aggregate, own less than half the shares in a corporation.

Monopoly
Control of the production and distribution of a product or service by one firm or a group of firms acting in concert.


Multimedia
A service involving two or more communications media (e.g., voice, video, text, etc.) and hybrid products created through their interaction.


Mutual fund
Also known as an open-end investment company, to differentiate it from a closed-end investment company. Mutual funds invest pooled cash of many investors to meet the fund's stated investment objective.