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...

The purpose of this article is to develop a bank-oriented rating approach, tailored by incorporating the various heterogeneity dimensions characterizing financial institutions, named "Bank-Tailored Integrated Rating" (BTIR). BTIR is able to catch the financial cycle, including the pandemic...

The latest financial crisis has been impressive for strength, impact, duration and reduced efficacy of the economic and financial policies adopted by the Authorities. We use an original information risk model to contribute to the analysis of the crisis and to suggest some approaches for a...

Information risk is an endogenous element of the market dynamics that can be independent from contingent levels of market efficiency. Being structural, it may require to be remunerated by a specific risk premia or by returns from specific portfolio strategies. Drivers of information risk are...

The financial crisis exploited the poorness of real liquidity risk perception in the banking system. The paper suggests a wiser uses of econometrics tools can be more effective in detecting banking risk in order to reduce bias in the decision processes. A methodology to better focus the real...

Corporate-risk has a very different nature from Market-risks: M-risks are generally exogenous so that they cannot be crafted, while C-risk is instead endogenous being the result of a continuous - time managerial process crafting inputs (e.g. specific risks) in order to let firm survive that is...

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...

This paper investigates whether the debt quality matters and the role of debt maturity choice. At corporate level, the mismatch between the debt maturity and other performance drivers widespread unexpected risks. Shortening the maturity incentivise more liquid investments, usually the less...

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...