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An assessment of financial sector rescue programmes
Panetta, Fabio; Faeh, Thomas; Grande, Giuseppe; Ho, Corrinne - Banca d'Italia - 2009
We analyse the wide array of rescue programmes adopted in several countries, following Lehman Brothers� default in September 2008, in order to support banks and other financial institutions. We first provide an overview of the programmes, comparing their characteristics, magnitudes and...
Persistent link: https://www.econbiz.de/10004964392
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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 across countries to assess the effect of the schemes. Then...
Persistent link: https://www.econbiz.de/10008626021
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Household wealth and entrepreneurship: is there a link?
Magri, Silvia - Banca d'Italia - 2009
In the absence of any correlation between wealth and entrepreneurial talent, initial net wealth should have an explanatory power in the decision to become an entrepreneur only for households that are financially constrained; further, its importance should decrease with wealth. I test these...
Persistent link: https://www.econbiz.de/10005011989
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Business incubators in Italy
Auricchio, Marta; Cantamessa, Marco; Colombelli, Alessandra - Banca d'Italia - 2014
The Italian economy has suffered from structural problems for the last fifteen years, which have weakened its competitiveness. The innovation gap, by international standards, is one of those problems. Business incubators are one of the solutions proposed in the economic literature and put into...
Persistent link: https://www.econbiz.de/10011100376
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Immigration, jobs and employment protection: evidence from Europe before and during the Great Recession
D'Amuri, Francesco; Peri, Giovanni - Banca d'Italia - 2012
In this paper we analyse the impact of immigrants on the type and quantity of natives� jobs. We use data on fifteen … occupations pushed natives towards more �complex� (abstract and communication) jobs. This job upgrade was associated with a 0 …, during the Great Recession. We also document the labour market flows behind it: the complexity of jobs offered to new native …
Persistent link: https://www.econbiz.de/10011099671
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Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices.
Giannetti, M. - Banca d'Italia - 2000
This paper examines how firm characteristics, the legal system and financial development affect corporate finance decisions using a novel and unexpored data set containing balance sheet information for listed and unlisted companies. Contrary to the previous literature, by using data on unlisted...
Persistent link: https://www.econbiz.de/10005486705
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The bank-firm relationships after Basel 2: a survey on Italian firms
Bentivogli, Chiara; Cocozza, Emidio; Foglia, Antonella; … - Banca d'Italia - 2007
This paper shows the results of a survey on firms regarding the changes that are occurring in the bank-firm relationship in view of Basel II. The survey has been conducted on an national basis together with a local one directed to small firms localized in the regions of Emilia-Romagna, Puglia...
Persistent link: https://www.econbiz.de/10005467323
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Businesses seized from organized crime groups: their relations with the banking system
Donato, Luigi; Saporito, Anna; Scognamiglio, Alessandro - Banca d'Italia - 2013
This paper analyzes the relations between businesses seized from organized crime and the banking system. The first part of the paper examines legislative developments regarding seized and confiscated assets and highlights the persistence of problem areas despite the efforts to create a...
Persistent link: https://www.econbiz.de/10011099598
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Does issuing equities help R&D activity? Evidence from unlisted Italian high-tech manufacturing firms
Magri, Silvia - Banca d'Italia - 2014
This paper evaluates the causal effect of issuing equities on the probability that a firm will engage in R&D activity. Equity is a preferable source of external finance for innovation than debt. It does not require collateral, does not exacerbate moral hazard problems connected with the...
Persistent link: https://www.econbiz.de/10011099688
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The cost of firms� debt financing and the global financial crisis
Pianeselli, Daniele; Zaghini, Andrea - Banca d'Italia - 2014
We provide an assessment of the determinants of the risk premium paid by non-financial corporations on long-term bonds. By looking at 5,500 issues in the period 2005-2012, we find that the turbulence in the sovereign debt market has been a major driver of corporate risk in recent years. Compared...
Persistent link: https://www.econbiz.de/10011099704