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...

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....