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...

The recent financial crisis has induced firms to turn increasingly to financing sources other than bank credit, and banks to boost their income from non-lending services. This paper provides some evidence concerning possibility and convenience for Italian banks to expand the supply of financial...

FinTech credit has attracted significant attention from academics and policymakers in recent years. Given its growing importance, in this paper we provide an overview of the empirical research on FinTech credit to households and non-financial corporations (NFCs). We focus on three broad topics:...

A better understanding of the information provided by credit ratings and their proper use allow more transparent and effective communication to investors and a better risks’ diversification. In this way ratings will be able to play a more effective predictive role

The literature that examines target prices issued by equity research analysts is vast, and the role of the analytical process and valuation model used to determine target prices has received growing attention by scholars. However, the specific evidence that indicates how professional analysts...

This paper analyzes the methods of rating attribution of the major international agencies (Moody’s, Fitch and Standard & Poor’s) between 2005 and 2010 for a sample of Italian and European listed banks and tests empirically, through the multivariate analysis of Ols, the possible relations of...

The financial crisis has stimulated researches on the link between risk models and banking business, showing that banks with greater profitability deriving from traditional activity have less chancee to be involved in a crisis. This hypothesis is confirmed by an analysis conducted on a sample of...

The aim of the paper is to investigate the long-run performance of Italian Ipos, paying close attention to the banking companies. Specifically, the objective is to test if there are differences and/or anomalies between the securities issued by banks and those delivered by other issuers, in the...

Cooperative banking has produced, in more than a century, significant value in terms of proximity to clients and local communities. A governance reform is now necessary to solve interest conflicts and redefine the cooperative model in the present scenario

This paper aims to stress the importance of market liquidity for the stability of the financial system, emphasizing the pivotal role played by liquidity risk in the development of the current financial crisis, pointing out the flaws of regulation and supervision and stressing the need for their...