In un contesto di sostanziale «pubblicizzazione» degli equilibri reddituali e patrimoniali delle banche, la proprietà privata della banca è spesso condizionata nell'esercizio dei diritti di controllo e delle prerogative di imprenditorialità che le sarebbero propri. La questione della banca...

"Where US real estate markets are relatively liquid and developed, the same investment strategies are less effective in the European context. Where many studies provide a set of specialized studies on specific European real estate asset classes, there are few which consider all asset classes...

Loss Given Default (henceforth the LGD) is the ratio of losses to exposure at default. It includes the loss of principal, the carrying costs of non-performing loans and workout expenses. In light of the management and regulatory advances regarding LGD, this paper addresses the topic of choosing...

The global financial crisis and its effect on stock market volatility seems persuaded the market regulators how destabilising short-selling can be and how it contributes to undermine market's confidence. Following the decisions of other market regulators, the Italian securities exchange...

Trade credit and trade debt choices are strictly interconnected and some of the drivers of one of these features are common. Literature looks prevalently at the main reason behind each choice considering separately the credit and debt features. Only few articles consider the two features jointly...

In light of multiple motivations for the use of trade credit, firms tend to supply and receive trade credit at the same time, so the choice to engage in one of these activities could influence the other. Many studies proposed in the literature define models of trade credit and provide empirical...

Rating agencies normally apply an issuer-pay model, which is acknowledged as a possible source of collusion risk. In order to control this risk, raters are requested to monitor only the yearly top customers' revenues, without considering the value of multi-period relationships.Looking at Fitch,...