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Female entrepreneurs in trouble: do their bad loans last longer?
Marcucci, Juri; Mistrulli, Paolo Emilio - Banca d'Italia - 2013
. These findings are robust to censoring, alternative specifications of the distribution of bad loan duration and other bank …
Persistent link: https://www.econbiz.de/10011100336
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The role of leverage in firm solvency: evidence from bank loans
Patti, Emilia Bonaccorsi di; Alessio D�Ignazio; … - Banca d'Italia - 2014
The two recessions that have hit Italy since the end of 2008 have raised the share of non-performing loans to businesses in banks� portfolios substantially. In this paper we evaluate to what extent the deterioration of credit quality was due not only to the decline in firms� sales...
Persistent link: https://www.econbiz.de/10011100349
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Costs and benefits of creditor concentration: An empirical approach
Carmignani, Amanda; Omiccioli, Massimo - Banca d'Italia - 2007
-budget-constraint and liquidity effects, high concentration of bank credit reduces the likelihood of financial distress and liquidation, as …
Persistent link: https://www.econbiz.de/10005467311
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Debt restructuring and the role of lending technologies
Micucci, Giacinto; Rossi, Paola - Banca d'Italia - 2010
when the bank: i) is geographically closer to borrowing firms; ii) relies more on soft than hard information; and iii … these techniques systematically in the monitoring process and if they adopt more decentralized structures. Bank size per se … important consequences on bank decisions. …
Persistent link: https://www.econbiz.de/10008560238
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Incentives in universal banks
Albertazzi, Ugo - Banca d'Italia - 2006
This paper studies the provision of incentives in a universal bank. This is regarded as a (common) agent serving … on behalf of issuing firms. The clients offer incentive schemes to the bank and they behave non-cooperatively. The bank …
Persistent link: https://www.econbiz.de/10005770767
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Credit ratings in structured finance and the role of systemic risk
Violi, Roberto - Banca d'Italia - 2010
This paper explores the implications of systemic risk in Credit Structured Finance (CSF). Risk measurement issues loomed large during the 2007-08 financial crisis, as the massive, unprecedented number of downgrades of AAA senior bond tranches inflicted severe losses on banks, calling into...
Persistent link: https://www.econbiz.de/10008677911
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Financing innovation in Italy: an analysis of venture capital and private equity investments
Vacca, Valerio - Banca d'Italia - 2013
Using a unique data set, this paper describes the main features of the venture capital industry in Italy. Operations by Italian specialised venture capitalists are only in part devoted to small, young firms from advanced industries, have a rather short duration and are weakly focused on a few...
Persistent link: https://www.econbiz.de/10011099607
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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
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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 …
Persistent link: https://www.econbiz.de/10005113643
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Macroeconomic uncertainty and banks' lending decisions: The case of Italy
Quagliariello, Mario - Banca d'Italia - 2007
This paper discusses the role that macroeconomic uncertainty plays in banks� decisions on the optimal asset allocation. Using a portfolio model recently proposed in the literature, the paper aims at disentangling how Italian banks choose between loans and risk-free assets when uncertainty...
Persistent link: https://www.econbiz.de/10005609339