In Italy the use of bond covenants is restrained by the predominance of SMEs, the significant role of relationship banking, the high costs related to public placements, the lack of investors‘ financial culture, the low amount of loans normally requested by each firm and the lack of liquidity...

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...

In the context of the reform of bankruptcy law, the improper granting of credit and the restructuring of debts of a company have received a more comprehensive regulatory definition, with a clearer identification of the situations and responsibilities: an issue of peculiar interest for banks...

New evidence shows how bank wage systems are considering new governance rules, long-term based risk-adjusted performance measures, equity and liquidity conditions.

The Italian corporate lending system is undergoing a legislative transformation, undoubtedly influenced by issues relating to debt restructuring plans. Banks are faced with different problems arising from loans to undercapitalized companies. Debt restructuring agreements are effective...

This paper examines the determinants of shareholder value creation for a large sample of European banks. By using a panel data model, we find that bank profits and shareholder value are positively influenced by cost and profit efficiency, operational risk exposure, unexpected credit losses and...

The analysis of the data sample of 1 million mortgages granted between 2004 and 2007 shows that variable rate contracts have been, on average, more risky; late payments have been more frequent for borrowers who are younger, resident in the Southern Italy or immigrants from non-Eu countries;...

The financial crisis and the proposed changes in bank regulation seem to have inverted the trend of declining capital ratios and lower quality capital base which emerged from 2005 to 2007, especially for large Italian listed banks, and have stopped the generous dividend payouts. The recent...

The management of retail banks’ relations is closely linked with the search for an effective loyalty of customers, employees, suppliers, in order to increase the profitability of bank. Recent surveys outlined a scenario which, while confirming the increasing customer confidence towards bank,...

Many alternative dispute resolution mechanisms operating outside the regular court system are active in the field of civil cases and in particular in that of dispute resolution over banking and financial issues: e.g. Conciliatore Bancario, Ombudsman, Consob’s Chamber of settlement and...