The paper proposes to intend the firm as a nexus of stakeholder, each bearing return-to-risk expectations on the overall corporate performance. All stakeholders must achieve their own satisfaction by bargaining contracts that must be sustainable, i.e. keep alive in the long term both the firm...

We aim to investigate the impact of the Enterprise Risk Management (ERM) on the enterprise value and to discover the determinants of this adoption. Several economic actors have decided to face the current economic and financial complexity shifting from a Traditional silo-based Risk Management...

We aim to investigate the impact of the adoption of an Enterprise Risk Management (ERM) system on the enterprise value and to discover which are the determinants of this choice. Several economic actors have decided to face the current economic and financial complexity shifting from a Traditional...

The paper presents an empirical study on the content of reports on Italian stocks. We collected 4,603 reports regarding 29 blue chips listed in Italian stock market and released during years 2000-2003 by important brokers and investment firms. We carefully examined each report to find out the...

The pandemic caused by the Covid-19 virus has severely impacted the real estate industry. The research investigates the relationship between the spread of the virus and REITs performances in Europe, considering the role played by localization and diversification of properties in the real estate...

We aim to investigate the impact of the adoption of an Enterprise Risk Management (ERM) system on the enterprise value and to discover which are the determinants of this choice. Several economic actors have decided to face the current economic and financial complexity shifting from a Traditional...

We investigate and find out the inner differences between stand-alone firms and those participating to Productive Chain Networks (PCNs) as far as ownership and corporate governance characteristics are concerned. PCNs are typical Italian economic realities made of small and medium enterprises...

The purpose of this article is to develop a bank-oriented rating approach, tailored by incorporating the various heterogeneity dimensions characterizing financial institutions, named "Bank-Tailored Integrated Rating" (BTIR). BTIR is able to catch the financial cycle, including the pandemic...

The financial crisis exploited the poorness of real liquidity risk perception in the banking system. The paper suggests a wiser uses of econometrics tools can be more effective in detecting banking risk in order to reduce bias in the decision processes. A methodology to better focus the real...

Corporate-risk has a very different nature from Market-risks: M-risks are generally exogenous so that they cannot be crafted, while C-risk is instead endogenous being the result of a continuous - time managerial process crafting inputs (e.g. specific risks) in order to let firm survive that is...