The purpose of this paper is to suggest some managerial and policy recommendations deriving from the observation of the determinants of the best efficiency levels achieved by the Euro Area banking groups. Referring to the period 2009–2018 a stochastic frontier model, based on the proxy coming...

The aim of this paper is to analyze the impact of the emotional factors on the current account holders' decision to switch from their own principal bank. For this purpose, some survey data is used which highlight the bank-customer relationship. The data are collected through a questionnaire...

This paper deals with a stochastic dynamic optimization problem in the context of illegal company financing. Our analysis of the usury phenomenon is conducted by searching for the best interest rate which an illegal financier should apply to a company in order to bring about the firm's...

In contrast to the US experience, most international (European) REITs are subject to prudential regulation. This paper investigates the effects on capital structure and, consequently, on REITs' share value of the major legal and market constraints (i.e. leverage limitations, market discount on...

This paper investigates the effects of the Italian real estate funds governance and intermediation structure on market prices discount over Nav figures.The hypothesis is that the mandatory provision of a shareholders' meeting of newly established Reits offers potential protection to investors...

The purpose of this study was to analyze the effects that have been caused by changes in pre-trade transparency upon the behavior of stock traders. We used a trade size model and tested it before, during and after the period when the Italian Stock Exchange introduced a 20-level order book with...

In this paper we define and compare versions of the robust and non robust portfolio selection models based on the use, as a measure of risk, of volatility, Value at Risk and Conditional Value at Risk. This with the aim to take account of asymmetries in distribution of yields, and in profits and...

This paper investigates the effects of the Italian REITs governance and intermediation structure on market prices discount over NAV figures. The hypothesis is that the mandatory provision of a shareholders' meeting in the article of association of newly established REITs offers potential...