This paper investigates the factors (such as different sources of financing, energy audits and internal monitoring activities) affecting the propensity of European small and medium sized enterprises (SMEs) to adopt energy efficiency measures (EEMs). For this purpose, a Probit model is estimated...

We investigate the market valuation of accounting information in the European banking industry before and after the adoption of IFRS, the latest version of International Accounting Standards (IAS). Building on Ohlson (1995), we apply panel methods to a multiplicative interaction model in which...

This paper aims to contribute to the debate on the determinants of differentials in firms’ productivity. We test the hypothesis that macro factors, especially the quality of local institutions, play a role in explaining firm productivity in Italy. To this end, following Fӓre et al. (1994), we...

Purpose – The purpose of this paper is to investigate the relationship between bank market power and firm creation, which represents a debated issue in the economic literature, still lacking empirical evidence. Design/methodology/approach – The analysis is carried out by taking an...

The hypothesis that ownership structure affects persistence of profits in the Italian banking industry is tested. The time-invariant components of ROA and ROE are regressed against ownership concentration and the fraction of shares held by the major shareholders. The results show that abnormal...

This work investigates whether World Bank loans fostering trade liberalization are associated with less distorted export policies, by employing some gravity model-based measures of anti-export bias, and a Herfindhal index of export revenues concentration. When accounting for non-random selection...