Self-financing has often been seen as an important source for research-and-development (R&D) funding. However, an in-depth comparison between the determinants of self-financing in the case of traditional investments versus those in R&D has not been provided yet. We use a comprehensive data set...

This paper sets out to analyse the determinants of Italian SMEs' choices of sources of finance, with specific reference to the role of informed (internal) capital compared to other forms of finance. In this work, we aim to identify the determinants of the mix of sources of finance using data...

This paper investigates whether the range of activities conducted by banks influences their performance and risk. Using an unbalanced panel dataset which includes 308 bank-year observations, for the period 2006-2011, corresponding to 52 Italian Bank Holding Companies in the last year, the core...

We use panel data from 52 Italian Bank Holding Companies (BHCs) over the period of 2006 to 2011 to test how revenue diversification affects bank performance. Unlike studies of diversification that focus on its effect on equity and debt values and risk return portfolio strategies, we investigate...

<i> Shock di liquidità e crisi bancarie: fallimento o corse agli sportelli? </i> (di Paola Brighi) - ABSTRACT: In this paper, we show that, contrary to Diamond and Dybvig’s [1983] model and further developments, bank runs are not the only cause of liquidity crises; even a quite prudent ex-ante...

This paper investigates whether the range of activities conducted by banks influences their performance and risk. Using an unbalanced panel dataset which includes 308 bank-year observations, for the period 2006-2011, corresponding to 52 Italian Bank Holding Companies in the last year, the core...

type="main" xml:lang="en" <p>In this paper, we show that abandoning the Diamond and Dybvig hypothesis of a unique bank representing the entire banking system gives rise to the possibility of endogenizing the interbank exchanges. In a system characterized by uncertainty regarding the moment of...</p>