The paper explores the motivations underlying the securitization activity of Italian banks from 1999 to 2006. By estimating probit and proportional hazard duration models, in which the probability of placing securitizations is linked to a set of balance sheet indicators and a vector of further...

The relevant development of Islamic finance is undisputable, but an evaluation is still uncertain because it is a recent experience that may involve moral, economic and financial characteristics. Furthermore, adherence to ethical principles borrowed from Islamic law must often face the...

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 research analyzes the relevance of pricing models to the behaviour of banking service customers, in particular, how bank pricing models influence the acquisition and retention of retail customers.The survey is based on a dataset of 90,000 bank current account holders at an Italian...

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 tribute to the work and thought of Tancredi Bianchi, whose teaching is distinguished by depth of analysis, communication skills, real contact with the world of finance and business. The editorial initiative of Bancaria Editrice, edited by Mario Comana and Marina Brogi, collects in three...

Current developments of hedge funds market demonstrate the relevance of operative and market risk exposure measurement. VaR represents the more widespread approach adopted for measuring the market risk and it could be used jointly with other measures in order to overcome some forecasting limits...

Patent backed securitizations are customized financial solutions characterized by a high level of complexity. Their evaluation involves the analysis of a variety of factors concerning the characteristics of the asset, the architecture and economics of the transaction, the stakeholders involved....

Structured Etfs, differently from those of the first generation, are aimed to replicate a strategy index. This can, according to a multiplication factor, maximize or reverse the performance of a market. Individual investors are generally not aware of the ways in which structured Etfs replicate...

This paper investigates the effects of the Italian real estate funds governance and intermediation structure on market prices discount over Nav figures.The hypothesis is that the mandatory provision of a shareholders’ meeting of newly established Reits offers potential protection to investors...