The financial crisis focused investors interest towards a sustainable ethical finance. Greater attention to environmental protection led to the spread of a new kind of finance, or ecological finance, with the development of some specific categories of ethical funds based on an environmental and...

This paper examines the characteristics and the critical aspects of the Italian Asset management industry. It reports the results of interviews conducted with 21 mutual fund managers working in 10 of the most important Italian asset management companies.The focus is mainly on the relationship...

The valuation methodologies recognized and applied to banks are not bank-specific but are based on simplifications that result from standard methods inadequacy to capture some key variables of the intrinsic bank’s value. It is therefore necessary to define specific riskbased methodologies

In this paper we define and compare versions of the robust and non robust portfolio selection models based on the use, as a measure of risk, of volatility, Value at Risk and Conditional Value at Risk. This with the aim to take account of asymmetries in distribution of yields, and in profits and...

The debate on the effects and risks of High Frequency Trading has not reached a definitive conclusion yet. In order to mitigate the negative effects, supervisory authorities have begun a policy instruments review, regarding stricter disclosure obligations for traders and microstructural...

Previous researches have demonstrated that consumer decisions could be affected by some biases in the supplementary pension field. Decisionmaking is very often not guided by rationality, and in many cases, if forced to choose, people will decide not to decide, passively accepting the decisions...

Despite the decline during the crisis, Italian households savings rate is in line with major European countries and higher than Us and Uk. Conservative portfolios allowed, during the crisis, to contain volatility and to protect wealth, but they are not an optimal choice for recovery. It is...

The radical change, induced by the crisis, which is affecting the distribution has produced a greater supply of products and services to customers, stressing the importance of factors such as the growth in services revenues and the need to cut costs. In the new context, the supply of products...

Through a research based on a sample of 52 Italian hedge funds in the 2006-2010 period, the role of managerial incentives and discretion in hedge fund performances is analyzed. The study’s results contradict those achieved by Agarwal, Daniel and Naik in 2009, by demonstrating that in Italy the...

Recent researches on Real Estate Funds Financial Assets analyze the distinctive features and structure of Italian Reits outlining the role of shareholdings, debt and Oicr assets