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The Insolvency Regime for Large Enterprises in Italy : An Economic and Legal Assessment

Belhocine, Nazim - 2018

The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not … least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy's insolvency … folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in …

Persistent link: https://www.econbiz.de/10012909405

Integrated Ownership and Control in the GCC Corporate Sector

Santos, Andre Oliveira - 2015

The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and GCC stock exchanges. The paper finds that ownership is concentrated in GCC public...

Persistent link: https://www.econbiz.de/10013015598

Assessing the Cost of Financial Regulation

Elliott, Douglas - 2012

This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in...

Persistent link: https://www.econbiz.de/10013099136

Currency Mismatches and Corporate Default Risk : Modeling, Measurement, and Surveillance Applications

Chan-Lau, Jorge A. - 2007

Currency mismatches in corporate balance sheets have been singled out as an important factor underlying the severity of recent financial crises. We propose several structural models for measuring default risk for firms with currency mismatches in their asset/liability structure. The proposed...

Persistent link: https://www.econbiz.de/10012777967

Household Wealth and Resilience to Financial Shocks in Italy

Garcia-Macia, Daniel - 2018

High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction of this wealth is held by the rich and upper middle classes. This paper documents...

Persistent link: https://www.econbiz.de/10012910351

Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Santos, Andre Oliveira - 2019

This paper analyzes the capital structure of private asset managers in which theacquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles(CoCos) placed with investors. The paper develops a model based on NPL transferprices and residual recovery rates to assess capital...

Persistent link: https://www.econbiz.de/10012868458

The Financing of Ideas and the Great Deviation

Garcia-Macia, Daniel - 2017

Why did the Great Recession lead to such a slow recovery? I build a model whereheterogeneous firms invest in physical and intangible capital, and can default on their debt. Incase of default, intangible assets are harder to seize by creditors. Hence, intangible capitalfaces higher financing...

Persistent link: https://www.econbiz.de/10012948526