The global financial crisis had a major impact on the cost and availability of finance for infrastructure-based public-private partnerships (PPPs). In response, policy-makers have introduced models of 'credit-enhancement' that aim to reduce the risk faced by private investors and attract...

M&A transactions expose both the bidder and target shareholders to a number of major risks both prior to the close of the deal and during the post-close integration phase. The main pre-closing risk is the possibility that fl uctuations of bidder and target stock prices will affect the terms of...

"In this paper we test two hypotheses concerning the presence of innovation in venture capital investments and the growth of innovative venture backed firms. To examine these hypotheses we considered sample of 37 Italian venture backed firms that went public on the Italian Stock Exchange between...

Offtaking agreements are an important risk transfer mechanism in project finance. However, they can also be thought of as a trade-off between lower market and higher counterparty risks. We use the case of the Quezon Power Ltd Co. to test the effect of higher counterparty risk on the cost of...

Banks capitalization has assumed greater importance after the new minimum capital standards required by Basel 3 and 2011 Eba Recommendations.This question could overshadow other important issues, such as those referred to the strategic models banks should adopt towards firms and individuals

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 (M&A) advisory services. Our analysis is based on a unique dataset with detailed...

The extraordinary global growth in the private funding of public infrastructure projects in the form of public-private partnerships (or PPPs) is expected to have major social and economic benefits-benefits that result in large part from improving the allocation of project risks between the...