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

This paper tests the hypothesis of the creation of one large Stock Exchange in the Uae and examines the potential implications for the holdings (Borsa Italiana-London Stock Exchange and Nasdaq-Omx). The analysis shows that the contraction in both market capitalization and trading value in the...

We perform an empirical analysis to identify the main factors driving the liquidity of corporate and government bonds both in ordinary times and in times of market turmoil. Our findings highlight the importance of credit ratings, amount issued and bond duration as factors affecting bond...

In recent years, there has been a considerable increase in Etfs’ trading on regulated markets. While the first Etfs merely replicated popular market indexes, recently more complex products (structured Etfs) have been launched by the major issuers. This article analyzes the different types of...

Hedge funds are a complex investment instrument with a great variety of players, innovative operational features, non homogeneous target markets. Recent developments of their regulations in Europe and in the U.S. shows: the objectives of financial regulation and its related problems, the current...

The market for Italian real estate funds has been characterized in recent years by fluctuations affecting both the number of new products and their performance. It is therefore important to establish criteria for measuring the funds’ performances, based on the income return and capital growth...

Index-linked bonds are structured products whose returns depend on performance of one or more financial indexes. They can be seen as the sum of a bond and an option (derivative component).The work explores some of the issues for the evaluation of the theoretical value (or fair value) of this...

Italian banks profitability represents a focal point both for top management and supervisory authorities. It is strongly necessary to focus on: global revenues, assets composition and pricing policies; managing actively credit risk, rationalizing operating costs. Objectives can be achieved...

The ability of the traditional media to capture the attention and to influence, at least in the short term, individuals awareness of financial events is still relevant. However, social networks are now taking an increasing role in the circulation of news

Shares prices trends are often not readable and the correlation between prices, environmental variables and corporate information to the market may be unclear, as shown by a case study in the Italian Stock Exchange