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...

This study demonstrates that the ownership of private equity (PE) funds influences investment performance. The analysis focuses on the universe of PE investments made by Italian closed-end funds from 1999 to 2005. We find that bank-owned funds generally engage in weaker monitoring of the firms...

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...

Recourse to independent directors by private equity investors is not tied to performance increases. We draw this conclusion from analyzing a unique data set representative of the European context: all deals made by Italian closed-end funds from 1999 to 2003. Our study shows, in fact, that...

Analyzing 153 venture-backed and non-venture-backed companies that went public in Italy between 1995 and 2004, we tested two hypotheses about the role of venture capital in developing innovations within firms. The first concerns the relevance of innovation and whether it is present when venture...

We study the drivers of financial sophistication in small family firms. Sophistication is defined as the use of non-basic financial products such as options, swaps, debt restructuring, and mergers and acquisitions (Mamp;A) advisory services. Our analysis is based on a unique dataset with...

We find that credit rating is the most important variable in determining tranche spread at issue on Collateralized Debt Obligations (CDOs) issues backed by project finance (PF) loans. Factors that are important for pricing in the case of corporate bonds, such as market liquidity and weighted...

Supply Chain Finance is as a portfolio of financing and risk mitigation practices and techniques to optimize the management of the working capital and liquidity invested in supply chain processes and transactions. SCF techniques existing on the market can be divided into three categories:...

A sound bank resolution regime is crucial for ensuring long term financial stability and reducing the potential public cost of possible future financial crises. The Eu crisis management framework provides arrangements for restructuring a credit institution, in order to ensure the continuity of...

The estimate of the probability of default plays a central role for any financial entity that wants to have an overview of the risks of insolvency it may incur by having economic relations with counterparties. This study aims to analyze the calculation of such measure in the context of...