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First-time corporate bond issuers in Italy
Accornero, Matteo; Russo, Paolo Finaldi; Guazzarotti, … - Banca d'Italia - 2015
The paper looks at the characteristics of Italian non-financial firms that accessed the bond market for the first time … between 2002 and 2013. The results of logit estimations indicate that first-time bond issuers are significantly larger and … more frequently listed on the stock exchange than firms not issuing bonds. We also find that their decision to enter the …
Persistent link: https://www.econbiz.de/10011265437
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The management of interest rate risk during the crisis: evidence from Italian banks
Esposito, Lucia; Nobili, Andrea; Ropele, Tiziano - Banca d'Italia - 2013
by hedging with financial derivatives. But the complementary relationship between risk-management decisions differs …
Persistent link: https://www.econbiz.de/10011099623
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Problemi di finanza pubblica tra le due guerre 1919 - 1936
Baccini, Alberto - 1993
Persistent link: https://www.econbiz.de/10001386719
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Monitoring, Liquidation, and Security Design.
Repullo, R.; Suarez, J. - Banca d'Italia - 1996
By identifying the possibility of imposing a credible threat of liquidation as the key role of informed (bank) finance in a moral hazard context, and showing how credibility fails when liquidity values are low, this paper identifies the circumstances under which a mixture of informed and...
Persistent link: https://www.econbiz.de/10005640914
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Style, Fees and Performance of Italian Equity Funds
Cesari, R.; Panetta, F. - Banca d'Italia - 1998
Using a clustering procedure, we classify Italian funds ex-post on the basis of the composition of their portfolios and find that the optimal number of clusters is equal to 4. The four groups which result from the statistical classification closely match the 4-level aggregation of the 20 ex-ante...
Persistent link: https://www.econbiz.de/10005486714
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The recent behaviour of financial market volatility
Panetta, Fabio; Angelini, Paolo; Grande, Giuseppe; … - Banca d'Italia - 2006
A striking feature of financial market behaviour in recent years has been the low level of price volatility over a wide range of financial assets and markets. The issue has attracted the attention of central bankers and financial regulators due to the potential implications for financial...
Persistent link: https://www.econbiz.de/10005770790
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Household aggregate wealth in the main OECD countries from 1980 to 2011: what do the data tell us?
Bonis, Riccardo De; Fano, Daniele; Sbano, Teresa - Banca d'Italia - 2013
This paper analyses aggregate household wealth in Canada, France, Germany, Italy, Japan, Spain, the UK and the US. Building on a new data set for the time span 1980-2011, we discuss the trends in household financial assets in the last thirty years, the reasons for differences across countries,...
Persistent link: https://www.econbiz.de/10011100332
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The pricing of government-guaranteed bank bonds
Levy, Aviram; Zaghini, Andrea - Banca d'Italia - 2010
We examine the effects of the government guarantee schemes for bank bonds adopted in the aftermath of the Lehman … Brothers demise to help banks retain access to wholesale funding. We describe the evolution and the pattern of bond issuance … the issuing bank or of the bond itself. …
Persistent link: https://www.econbiz.de/10008626021
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The riskiness of corporate bonds
Taboga, Marco - Banca d'Italia - 2009
that helps to make this intuition rigorous. We use their index to analyze the riskiness of corporate bonds and how this can … riskiness of corporate bonds, including in ways one might not expect. For example, a higher yield-to-maturity lowers riskiness …
Persistent link: https://www.econbiz.de/10008527060