This paper investigates whether there are relationships between corporate governance characteristics, firms' performance, credit allocation and merit of credit. We hoped to find some influences of qualitative characteristics, which are often overlooked. The study look at 75,512 firms (European...

Several studies investigated the predictability of financial distress. With this paper, we analyse the ability of Integrated Rating model to anticipate potential corporate crisis. In particular, we study bankrupt companies of four European Countries (Czech Republic, Spain, Italy, France,...

This paper proposes a new methodology for corporate return-to-risk assessment, to be adopted in case of private and unlisted companies. The consequent rating and scoring framework is sourced from the original Lintner's certainty equivalent model but it is developed on an integrated concept of...

Current literature does not agree on the impact that Basel regulation is having onto the banking system, small and medium size enterprises (SMEs) and the single country economies. Moreover, recent crises cast some doubts on the efficacy of the regulation itself. With this paper, we investigate...

Firms can be credit constrained either because a loan has been denied by the lender or because they decide not to apply for such a loan due to expected rejection. Using a large sample of European small and medium enterprises, we investigate the relationship between gender and credit constraints....

Firms may have gender differences in governance characteristics, which may lead to differences in the firms' performances themselves, and consequently in the way credit is allocated. The paper demonstrates that there are differences in governance characteristics and, most important, there is a...

We develop a banks' specific integrated rating approach, tailored incorporating the various heterogeneity dimensions characterizing financial institutions (see Mantovani et al., 2013 and 2014 regarding the heterogeneity risk analysis in corporate firms), named “bank tailored integrated...

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...

Literature agrees about Basel I and II regulations' inefficiency in improving credit allocation. Recent crisis demonstrates that rating standards fails to generate an efficient asset evaluation system. This is mainly due because of bias in corporate risk estimation. Nevertheless, when dealing...

The paper proposes to intend the firm as a nexus of stakeholder, each bearing return-to-risk expectations on the overall corporate performance. All stakeholders must achieve their own satisfaction by bargaining contracts that must be sustainable, i.e. keep alive in the long term both the firm...