English Abstract: 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 type of bonds, providing an order of magnitude of the difference between the issue price (gross...

Italian Abstract: Questo lavoro verifica se tra la fine del 2005 e la metà del 2012 la specializzazione territoriale dell’attività di prestito, il localismo bancario, ha influenzato la dinamica e la qualità dei prestiti concessi alle imprese italiane. A tal fine il lavoro propone una nuova...

In this paper we examine the main aspects of Italian factoring market and its evolution during last two decades. Moreover, we analyze the characteristics of firms accessing this kind of financing. In Italy factoring market size is the third in the world in absolute terms (amount of turnover),...

Financial exclusion concerns 2.5 billion individuals and more than 450 million enterprises. The G20 countries are committed to the reduction of this phenomenon. The Bank of Italy has a fundamental role in the field of financial inclusion, both on a national and an international scale through...

Italian Abstract: L’indicatore DESI della Commissione Europea segnala che il ricorso alle tecnologie dell’informazione e della comunicazione da parte delle Amministrazioni pubbliche in Italia è inferiore rispetto alla gran parte degli altri paesi dell’Unione. Il lavoro analizza...

This paper aims at analyzing trends in TFP and labour productivity growth. Data Envelopment Analysis is used to estimate a technological frontier and to compare all nations to it. The estimation of Malmquist productivity index as TFP indicators allows to decompose labour productivity growth in...

This research presents the scale of innovative intensity (SIIN) based on a meta-taxonomy that subsume other, less comprehensive taxonomy. The scale is used for a theoretical framework of measurement –technometrics- based on the economic impact of the technological change on the economic...

The purpose of this paper, after accurate description of the taxonomies of the innovation available in economic literature, is to evaluate technological change on the basis of the effects provoked by the innovative waves on consumers, firms and markets. Similarly to the Mercalli-Cancani- Sieberg...

This paper aims to examine the evolution of Industrial Research in Italy in the last decades. The analysis provides a survey of the most important contributions in the literature; a careful definition of the concepts "basic, applied and pre-competitive research"; the theoretical foundation of R&D...