Banks capitalization has assumed greater importance after the new minimum capital standards required by Basel 3 and 2011 Eba Recommendations.This question could overshadow other important issues, such as those referred to the strategic models banks should adopt towards firms and individuals

In this paper we consider the role of private equity for growth and restructuring processes, through the analysis of a comprehensive dataset of European going private deals during the period 1998-2007, for which we explore the post-transaction operating performance of companies gone private and...

In this paper we investigate the relationship between political connections and bank's financial performance. Our aim is to provide an empirical validation to anecdotal evidence claiming that politically connected directors might distort the allocation of credit to pursue personal or party's...

Analysing a comprehensive dataset of European going private deals during the period 1998-2007, we explore the post-transaction operating performance of companies gone private and potential variables that can explain this choice. We find these firms' situations improved slightly before going...

Our study shows that the ownership of private equity funds influences the investments' performances. Our analysis focuses on the universe of PE investments, made by Italian closed-end funds, from 1999 to 2005. We find that bank-owned funds are able to carry into effect a weaker monitoring of the...

Exploiting a unique opportunity offered by the Italian private equity (PE) market, we examine the hitherto largely unexplored internal rate of return (IRR) of PE investments. Our database covers the entire universe of transactions sponsored by Italian PE investors in Italy up to 2007 and offers...

This study investigates the determinants of spread on structured finance issues backed by project finance (PF) loans. We find that credit rating is the most important variable in determining tranche spread at issue. We also document how factors that are important for pricing in the case of...

The aim of this paper is to analyse the demand of a central bank digital currency (CBDC). Using a financial portfolio approach and assuming that individual preferences and policy votes are consistent, we identify the drivers of the political consensus in favour or against such as new currency....

We investigate the effect of board connections on the debt structure of private firms. Using a comprehensive panel data set from Italy, our empirical evidence indicates that independent directors who sit on multiple boards facilitate firms' access to external debt, mostly in the form of trade...

In this paper we present a model that demonstrates the effect of debt on cost of capital and value for banks with risky assets. Using a static partial equilibrium setting, both in a steady state and steady growth scenario, we derive a bank- specific valuation metric which separately attributes...