This study examines the extent to which Italian banks use credit derivatives (CD), whether there are differences between users and nonusers, and the underlying motivations for the use of CD. The results show that a limited number of credit institutions use CD, and that this usage varies over...

Italian Government has recently approved measures to promote the development of a bond market for small and medium-sized enterprises. The new rules have stimulated the launch of such instruments. Operators are now required to develop the best practices needed to complete the market

The purpose of this research is to investigate whether the long-run relationship implied by profit maximization is valid for the Turkish manufacturing industry for the period of 1950-2001. During this period, the Turkish economy has experienced important policy changes, for example the...

The main goal of this paper is to estimate the most appropriate production function for Turkish banking industry over the 1980–2006 period. The empirical analysis shows that Cobb-Douglas type production function and with credit dependent variable is the most appropriate model of the banking...

ABSTRACT The mixed results of previous empirical investigations on the relevance of firms’ reporting on sustainable development could be due to the absence of a theoretical paradigm able to capture the differences across countries. We apply the varieties of capitalism approach on a sample of...

The paper explores the motivations underlying the securitization activity of Italian banks from 1999 to 2006. By estimating probit and proportional hazard duration models, in which the probability of placing securitizations is linked to a set of balance sheet indicators and a vector of further...

We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in companies that generate externalities. We show that if the majority of investors are socially responsible, voice achieves the socially desirable...

The aim of the paper is to assess the efficiency of public aid in form of a guarantee, given the Ec State aid law. A State aid element valuation method for guarantee schemes, which highlights the effect of State aid on credit risk mitigation and takes into account the criteria for Ec...

The main objective of this paper is to investigate the determinants of collateral requirements on loans that are extended to small and medium enterprises (SMEs) in less–developed countries. Our primary data source is the Business Environment and Enterprise Performance Survey (BEEPS) results...