The exchange industry had undergone in last years a process of rapid change starting with the listing of major exchanges. Technological developments and regulatory reforms contributed to the falling of national trade barriers and gave rise to growing competition which forced incumbents to react...

Both changing investors’ behaviour and contingent events, such as financial crisis, stimulated a debate around the distribution of financial products for which an active market doesn't exist. Investing in illiquid financial instruments requires a certain degree of financial education in order...

As the pandemic urged further investigations on the prediction of firms’ financial distress, this study develops and tests an alternative measure to the alert system elaborated by the NCCAAE which combines the benefits of the Z-score’s multivariate discriminant model with the background...

Both changing investors' behaviour and contingent events, such as financial crisis, stimulated a debate around the distribution of financial products for which an active market doesn't exist. Investing in illiquid financial instruments requires a certain degree of financial education in order to...

Using a European sample of 211 listed firms from 2013 to 2022, we analyze the mitigation effect on firms’ probability of default (PD) provided by the effect of ESG performance combined with firms’ industry or membership in stock indexes. The study implements a novel approach, monitoring both...