Since the beginning of the financial crisis, multinational banks have been accused of being among the major causes of the financial system’s destabilization. But the available empirical evidence on the relationship between international diversification, value creation and riskiness of...

A 39% share of the employees of the globalized Italian banking groups work abroad and they are normally younger and more educated. This difference could be explained considering the peculiarities of labour markets in different geographical areas and the cultural aspects that could impact on...

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...

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...