This paper examines the results of a survey carried out in 2007 by the Bank of Italy concerning different characteristics of the organization of lending activities. Between 2003 and 2006 the physical distance between the headquarters and the branches increased, the limits to the decision-making...

Il lavoro analizza l'organizzazione dell'attività di prestito delle banche utilizzando i risultati di due indagini riferite al 2006 e al 2009. In questo periodo l'utilizzo di metodologie di rating e scoring è andato diffondendosi anche alle banche più piccole; gli intermediari maggiori hanno...

We study the mobility of Italian firms across different lending banks in the aftermath of Lehman Brothers' collapse, when 40 per cent of the firms analysed changed their pool of lending banks. Using a unique dataset on a sample of about 3,000 Italian firms that encompasses financial and economic...

Italy is characterized by strong differencesboth in the productive and in the financial structure. Small and medium firmstend to concentrate in the so called 'Marshallian industrial district', whoseproductive system has been thoroughly studied but whose financial features arepartially...

This paper examines private equity and venture capital in Italy. The first part looks at the main features of the Italian market and its recent evolution; the second part considers the results of a survey of firms and intermediaries designed to gather information regarding contract features and...

This paper examines the results of a survey carried out in 2007 by the Bank of Italy concerning different characteristics of the organization of lending activities. Between 2003 and 2006 the physical distance between the headquarters and the branches increased, the limits to the decision-making...

The paper reviews the supply of different mortgage instruments to Italian households by means of data obtained from a survey conducted in 2007 by the Bank of Italy over more than 300 banks. The results document significant innovations in housing finance in the last five years: a greater variety...

Using a dataset that combines bank organizational variables with information on firms' credit demand and balance-sheet indicators, we investigate the impact of how bank lending was organized on credit dynamics during the 2008-09 financial crisis. Our main findings suggest that the organization...

When the debt of distressed firms is dispersed, free riding makes it difficult to reach a restructuring agreement. We develop a multistage game in which banks come across each other frequently, allowing them to threaten punishment in case of free riding. As the number of banks grows, the chance...

We study the effects of diversifying funding sources on the financing conditions for firms. We exploit a regulatory reform that took place in Italy in 2012, i.e. the introduction of ‘minibonds’, which opened a new market-based funding opportunity for unlisted firms. Using the Italian Credit...