How do the Italian blue chips actually deal with disclosure about their business model? Does their disclosure strategies affect the cost of capital through a reduction in information risk premia? Performing a cluster analysis on the contents reported in annual reports, investor relations and...

We investigate and find out the inner differences between stand-alone firms and those participating to Productive Chain Networks (PCNs) as far as ownership and corporate governance characteristics are concerned. PCNs are typical Italian economic realities made of small and medium enterprises...

This paper proposes a new methodology for corporate return-to-risk assessment, to be adopted in case of private and unlisted companies. The consequent rating and scoring framework is sourced from the original Lintner's certainty equivalent model but it is developed on an integrated concept of...

We demonstrate that the capital structures of small business is mainly driven by asset-backed concept, particularly by the most liquid part of them, i.e. the operating working capital. Return-to-risk analysis is very less relevant because of its misrepresentation in standard financial reporting...

Literature agrees about Basel I and II regulations' inefficiency in improving credit allocation. Recent crisis demonstrates that rating standards fails to generate an efficient asset evaluation system. This is mainly due because of bias in corporate risk estimation. Nevertheless, when dealing...

The determinants of the value of entrepreneurial competences in an incomplete financial market contexts where the Entrepreneur's behaviour matters are examined. The study reveals that time is the economic link between marginal productivities of the capital assets and that of the human...

This paper analyzes the determinants of credit to medium-sized enterprises before and during the crisis in Italy. While the bank-enterprise relationship seems to be crucial in the granting of credit before the crisis of 2007, during the crisis the results show a greater virtuosity of firms...