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-enterprises. On average, they have lower profitability and higher debt, largely bank debt, than the other size classes. The proportion …
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-budget-constraint and liquidity effects, high concentration of bank credit reduces the likelihood of financial distress and liquidation, as …
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when the bank: i) is geographically closer to borrowing firms; ii) relies more on soft than hard information; and iii … these techniques systematically in the monitoring process and if they adopt more decentralized structures. Bank size per se … important consequences on bank decisions. …
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The paper looks at the characteristics of Italian non-financial firms that accessed the bond market for the first time between 2002 and 2013. The results of logit estimations indicate that first-time bond issuers are significantly larger and more frequently listed on the stock exchange than...
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by the fact that non-bank intermediaries are small in size, there is a lack of financial information about medium …
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The two recessions that have hit Italy since the end of 2008 have raised the share of non-performing loans to businesses in banks� portfolios substantially. In this paper we evaluate to what extent the deterioration of credit quality was due not only to the decline in firms� sales...
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