Most of the studies available on relationship lending focuses on the benefits for borrowers and neglects those achievable for banks. In particular, empirical studies on the benefits achieved for banks in terms of loans recovery rate, in connection with loss given default rate, are very few. In...

This paper analyzes the causes and consequences of the enforcement actions (sanctions) imposed by supervisory authorities for banks. Focusing on a sample of Italian banks between 2005 and 2012, we found 302 sanctions regarding 3,588 persons (i.e. Board of directors, Top Managers, and Chief...

This article empirically verifies the existence of a connection between the relationship-oriented model and the quality of the loan portfolio, by using alternative risk measures to previous studies. Consistently with earlier literature, bank size, distance and intensity of labour are used as...

Learning is a continuous process, without end, which takes place throughout life, and is the result of the interaction of an individual with a physical external environment, a social context or with herself. In what new technologies may help improving and making more effective the interaction of...

Nel 2008 le "Cantine di Marzo" terminano un lungo processo di concentrazione dell’assetto proprietario che ha portato a una drastica riduzione del numero dei soci, concentrando nelle mani degli attuali proprietari pressappoco l’86% delle quote. Questo processo di revisione dell’assetto...

<em>Alcune riflessioni sulla finanza nei distretti industriali. Rischio, creazione di valore e problematiche di finanziamento nelle imprese distrettuali</em>( di Pierpaolo Singer, Antonio D'Amato) - ABSTRACT: Le difficoltà delle PMI e, più in particolare, di quelle distrettuali di reperire risorse...

This paper examines the firms’ credit availability during the 2007–2009 financial crisis using a dataset of 5331 bank–firm relationships provided by borrowers’ credit folders of three Italian banks. It aims to test whether a strong lender–borrower relationship can produce less credit...

This research explores the effects of securitization on banks equity risk exposure. A widespread opinion before the crisis of 2007–2008 was that securitization enhances financial stability. We provide empirical evidence of the impact of securitization on the market's perception of the...

We investigate the effects on stock prices around the Ex-rights Dates (EDs) of rights offerings by firms listed on the Italian Stock Exchange. We focus on the period from January 2007 to April 2011, whereby several operations have been highly dilutive. Highly dilutive rights offerings show high...

This research examines the effects of securitization on the bank's risk exposure both in terms of individual expected shortfall and marginal expected shortfall as a measure of systemic risk. The relationship between securitization activity and tail risks is especially relevant in light of the...