During the last decades banks have progressively moved towards centralized and hierarchical organizational structures. Therefore, the investigation of the determinants of bank efficiency and relationships with the functional distance between the bank head-quarter and operational units have...

The aim of this paper is to study the pricing factor structure of Italian equity returns. Using twenty five years of data, we focus on the role of other risk factors besides the market beta, namely size, book to market, and momentum. A two step empirical analysis is provided where first we...

In the last decades, banking re-organization process has progressively increased centralized hierarchical organizational structures. In several cases, the restructuring activity has involved a geographic expansion of the financial organizations to other municipalities within the home province or...

Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...