How to Improve the Efficiency of Mutual Guarantee Institutions: an Analysis of the Economic and Institutional Profile of "Confidi Maggiori" in Southern Italy

The aim of this paper is twofold. Firstly, we provide an analysis of the capital as well as of the financial and economic profile of mutual guarantee institutions of Southern Italy in order to observe the business dynamics during the transformation into regulated intermediaries. For this purpose, we have examined the balance sheets of the thirteen "Confidi maggiori" of Southern Italy with reference to the period 2009-2011 and compared them with the selected benchmark, i.e. Eurofidi. Secondly, starting from an examination of the statutes of the thirteen "Confidi maggiori", we have developed some considerations about the relationship etween the institutional aspects and the efficiency of these mutual guarantee institutions. Finally, the paper suggests some proposals on how the main aspects of the statutory provisions should be regulated in order to contribute to an improvement in operational efficiency of mutual guarantee institutions.