Purpose: the objective is to measure the financial and social performance of 127 microfinance institutions (MFIs) and observe the effects with explanatory factors such as “type”, “geography region”, and “secular and faith” variables. Design/methodology/approach: The time-series...

The purpose of this study is to shed light on the valuation of firms at the time of their IPO. We question if the particularity in the corporate governance and ownership of European companies affect the valuation of the firms going public. With reference to the 3.052 firms that went public in...

This paper discusses the use of rights issues in a context where interest conflicts between controlling shareholders and minorities are due to the existence of private benefits that the former can extract from the value of a traded company. While the literature considers the issue of preemptive...

The evolution of the control of Telecom Italia, the sixth largest telecommunication company in the world by turnover, is an exemplary textbook case for studying minority expropriation. Our study consists of three parts. First we analyse how Olivetti's and Pirelli's acquisitions of Telecom Italia...