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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 Brothersï¿½ 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

Women on corporate boards in Italy

Bianco, Magda; Ciavarella, Angela; Signoretti, Rossella - Banca d'Italia - 2013

-affiliated women are more frequently found in smaller companies, firms with a concentrated ownership, businesses that operate in the …

Persistent link: https://www.econbiz.de/10011100338

Women on Italian bank boards: are they ï¿½gold dustï¿½?

Prete, Silvia Del; Stefani, Maria Lucia - Banca d'Italia - 2013

Italy ranks among EU countries with the fewest women on bank boards. Using a rich dataset on Italian banks that combines individual data on bank governance with different measures of performance and risk, this paper analyses the determinants of the gender gap in top positions. Econometric...

Persistent link: https://www.econbiz.de/10011100416

Efficiency vs. agency motivations for bank takeovers: some empirical evidence

Vincenzo, Alessio De; Doria, Claudio; Salleo, Carmelo - Banca d'Italia - 2006

Bank takeovers result on average in little improvements in performance. This may be due to conflicting driving forces behind them; however these have seldom been studied. We study directly the motivations for bank acquisitions by analyzing the prices paid for them, under the assumption that...

Persistent link: https://www.econbiz.de/10005113643

Managerial incentives, financial constraints and ownership concentration

Protopapa, Marco - Banca d'Italia - 2011

This work investigates the role of equity ownership for the purpose of committing the management to the pursuit of … shareholder value in the presence of separation between ownership and control. By rooting the conflicts of interests between … equity ownership is positively related to the short-term performance of the firm and negatively related to both its growth …

Persistent link: https://www.econbiz.de/10008917792

The Effects of Bank Consolidation and Market Entry on Small Business Lending

Patti, Emilia Bonaccorsi di; Gobbi, Giorgio - Banca d'Italia - 2001

Consolidation in the banking industry of many countries has reduced the number of small banks and led to significant shifts in market shares; deregulation has fostered entry in local credit markets and branch expansion, which in turn have increased competition. Small businesses are believed to...

Persistent link: https://www.econbiz.de/10005111563

Are Mergers Beneficial to Consumers? Evidence from the Market for Bank Deposits

Focarelli, Dario; Panetta, Fabio - Banca d'Italia - 2002

The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring all effects that take longer to materialize. Using a database...

Persistent link: https://www.econbiz.de/10005113523

Why Do Banks Merge?

Focarelli, Dario; Panetta, Fabio; Salleo, Carmelo - Banca d'Italia - 1999

The banking industry is consolidating at an accelerating pace, yet no conclusive results have emerged on the benefits of mergers and acquisitions. We analyze the Italian market, which is similar to other main European countries. By considering both acquisitions (i.e. the purchase of the majority...

Persistent link: https://www.econbiz.de/10005113557

Consolidation and efficiency in the financial sector: a review of the international evidence

Amel, Dean; Barnes, Colleen; Panetta, Fabio; Salleo, Carmelo - Banca d'Italia - 2002

In response to fundamental changes in regulation and technology, the financial industry around the world is undergoing an unprecedented wave of consolidation. A growing body of empirical literature has attempted to measure the efficiency gains from M&As; however there is little sense of how the...

Persistent link: https://www.econbiz.de/10005770770

Credit supply, flight to quality and evergreening: an analysis of bank-firm relationships after Lehman

Albertazzi, Ugo; Marchetti, Domenico J. - Banca d'Italia - 2010

This paper analyzes the effects of the financial crisis on credit supply by using highly detailed data on bank-firm relationships in Italy after Lehman’s collapse. We control for firms’ unobservable characteristics, such as credit demand and borrowers’ risk, by exploiting multiple lending....

Persistent link: https://www.econbiz.de/10008509918