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

The current great financial crisis points out the weakness of the originate to distribute model based on the definition by the global banks of a selling chain that is opaque, elusive and unsustainable. The reaction to the crisis must be wide and global: de-engineering of financial instruments,...

This paper analyses the X-efficiency level of Italian Asset Management Companies (Amc).This topic seems really important since there is a huge amount of literature that deals with X-efficiency with regard to the banking system; the aim of these works is to discover which factors can improve the...

A survival analysis, conducted by the Italian Banking Association, shows that, since 1997, in Italy there has not been a deterioration in the customers’ creditworthiness like in Us. The analysis also emphasizes how, despite the sharp increases of private sector’s financing, there has not...