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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
We examine the presence of women in Italian corporate boards before the introduction of Law 120/2012. We consider all … directors of publicly-traded firms in 2008-10 and investigate the potential determinants of having boards with gender … majority of diverse boards at least one of the women has a family connection with the controlling shareholder: family …
Persistent link: https://www.econbiz.de/10011100338
Italy ranks among EU countries with the fewest women on bank boards. Using a rich dataset on Italian banks that … is greater a) in banks belonging to the major banking groups, with larger and younger boards; and b) in banks that are …
Persistent link: https://www.econbiz.de/10011100416
Bank takeovers result on average in little improvements in performance. This may be due to conflicting driving forces …) commands a premium. Agency issues at the buyer are also an important motivation for takeovers: other things being equal …
Persistent link: https://www.econbiz.de/10005113643
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
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
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
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
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
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