We investigate the mitigation effect of firms’ ESG, a proxy of sustainability, on the CDS issued by corporations listed on the S&P500. We aim to shed new light on the risk mitigation effect by disentangling the empirical evidence across economic sectors and the ESG determinants. Results...

A modern view of stakeholder theory considers that ethical behaviour and profit are not contradictory. Under this framework and in the Merger and Acquisitions context we would like to investigate whether companies with well-developed Corporate Social Responsibility engage stakeholders in a...

The New Proposal of Basel Committee on banking regulation issued in January 2001 allows banks to use Internal Rating Systems to classify firms. Within this context, the main problem is to find a model that fits data as better as possible, providing at the same time good prediction and...

This paper analyzes the causes and consequences of the enforcement actions (sanctions) imposed by supervisory authorities for banks. Focusing on a sample of Italian banks between 2005 and 2012, we found 302 sanctions regarding 3,588 persons (i.e. Board of directors, Top Managers, and Chief...