The increased scrutiny of investors regarding the non-financial aspects of corporate performance have placed portfolio managers in the position of having to weigh the benefits of “holding the market” against the cost of having positions in companies that are subsequently found to have...

This paper presents a survey on the risk management function and the usage of hedging instruments by Italian non-financial firms. The objective is to measure how firms manage the following risks: Exchange-foreign, Interest rate, Energetic, Commodity, Equity, Counter-party, Operational, Country....

This experimental study aims to clarify to what extent and in which direction investors react to CSR (Corporate Social Responsibility) initiatives meant to upgrade the ethical standards of firms beyond the minimal requirements of law. Subjects in the laboratory were invited to invest their...

This paper examines the extent to which the dollar returns of stocks, dual listed on the domestic market and on the US market, as American Depository Receipts (ADRs), capture the fluctuations of both markets. Since 1989 there has been phenomenal growth in ADR offerings from several countries....

The objective of this research is to demonstrate that companies, within a given industry network, benefit from their social network clusters to get better access to financing. Recent research has demonstrated the efficiency of social network connections for early venture financing, achieved...

This Forum aims to systematically describe and analyse the evolution of national financial systems within the EU over the past three decades. It analyses the processes of financialisation that have dominated this period as well as the causes and consequences of the financial crisis from the...

This paper takes at firm level the inspiration of the Allegory of the Good and Bad Government, the 14th century series of frescoes by Ambrogio Lorenzetti. Namely, we investigate whether a good corporate governance stabilizes financial performance and whether such superior governance improves...

The 17 United Nations Sustainable Development Goals (SDGs) have created a framework for environmental and social impacts, which many large institutional investors and an increasing number of corporations are using to guide their resource allocation decisions or highlight those already in place....