The paper investigates the performances of Italian private equity industry, either at investment or fund level.The analysis considers all the investments which were realized by Italian closed-end funds, from 1999 to 2003. At investment level, the performance is positively correlated with the...

Over the past two decades the banking industry has undergone profound changes; these have affected not only the performance of banks themselves, but also the overall structure of the relationships that constitute their organization and allow them to exist and do business. In this perspective, it...

We find evidence consistent with Italian non-listed subsidiaries engaging in accrual and real earnings management, so that their listed parents can meet or beat benchmarks. Thus, the parent firm drives the earnings management of the subsidiaries.We identify parents that are more likely to have...