Similar Search Results

The economic and financial situation of Italian non financial corporations: an international comparison

Socio, Antonio De - Banca d'Italia - 2010

The paper analyses the main differences in the financial structure of Italian and European non financial corporations in the 2004-2007 period, that is during the years before the financial crisis. The research is based on individual balance sheets of Amadeus (Analyse Major Databases from...

Persistent link: https://www.econbiz.de/10008565782

Proprieta', controllo e trasferimenti nelle imprese italiane. Cosa e' cambiato nel decennio 1993-2003?

Giacomelli, Silvia; Trento, Sandro - Banca d'Italia - 2005

Italian firms, on ownership structures, control and control transfers of non-listed firms, building upon similar surveys … industrial firms in Italy. The data show that ownership concentration, as measured by various indicators, is high and that direct … family control of firms is prevalent. Separation between ownership and control is limited. Financial institutions (including …

Persistent link: https://www.econbiz.de/10005196852

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...

Persistent link: https://www.econbiz.de/10011265437

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

Perchï¿½ le imprese ricorrono al factoring? Il caso dell'Italia.

Benvenuti, Michele; Gallo, Marco - Banca d'Italia - 2004

In this paper we examine the main aspects of Italian factoring market and its evolution during last two decades. Moreover, we analyze the characteristics of firms accessing this kind of financing. In Italy factoring market size is the third in the world in absolute terms (amount of turnover),...

Persistent link: https://www.econbiz.de/10005111554

The financing of small innovative firms: The Italian case

Magri, Silvia - Banca d'Italia - 2007

Small firms encounter difficulties in raising external finance owing to greater information problems. For small innovative firms, whose activity is more difficult to evaluate, the cost of external finance could be even higher. This paper examines special features of the financial structure of...

Persistent link: https://www.econbiz.de/10005111559

Trade Credit as Collateral

Omiccioli, Massimo - Banca d'Italia - 2005

A remarkable feature of short-term business finance is the widespread use of trade credit as collateral in bank borrowing, especially by small and medium-sized firms. The paper models the incentives for a firm to collateralize accounts receivable as a trade-off between the benefit from lower...

Persistent link: https://www.econbiz.de/10005111571

Will a Common European Monetary Policy Have Asymmetric Effects?

Guiso, Luigi; Kashyap, Anil K.; Panetta, Fabio; … - Banca d'Italia - 2000

We survey the existing work on the cross-country differences in the transmission of European monetary policy. We find that prior work, focusing on macroeconomic data, does not clearly answer the question posed in the title and offer some explanations for the ambiguity. Aside from the...

Persistent link: https://www.econbiz.de/10005111576

Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices

Giannetti, Mariassunta - Banca d'Italia - 2000

, unlisted firms appear systematically more indebted even after controlling for firm characteristics, such as profitability, size …

Persistent link: https://www.econbiz.de/10005113552

Il credito commerciale: problemi e teorie

Omiccioli, Massimo - Banca d'Italia - 2004

This paper presents a survey of the literature on the determinants of inter-firm credit and on its implications for the transmission mechanism of monetary policy. Theoretical explanations for trade credit can be divided in two categories: a) theories based on real functions performed by trade...

Persistent link: https://www.econbiz.de/10005770786