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Author : Francesco Aiello
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (954 download)
Download or read book Ownership Structure, Behavior and Performance of the Italian Banking Industry written by Francesco Aiello and published by . This book was released on 2001 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Relationship Between Ownership and Performance in the Italian Banking Industry written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This work examines the impact of different ownership structures on the performance of Italian banks in a period that goes from 2006 to 2013. After a review of the relevant literature, a quantitative analysis is performed on a sample of 481 institutions and several regression models are employed to isolate the effect of the type of bank - commercial bank, Banca di Credito Cooperativo or Banca Popolare - on different aspects of performance. A first finding is that, coeteris paribus, the "Popolare" form does not have an impact on any form of performance, whereas the "Credito Cooperativo" form has a significant and positive relationship with profitability and asset quality. The same analysis is then performed on two subsamples, 2006-2007 and 2008-2013, in order to verify whether the determinants of performance changed after the latest global financial crisis. I find that in the pre-crisis period the Banche Popolari had, all else being equal, a lower profitability than commercial banks; conversely, in the following six years only the "Credito Cooperativo" ownership structure and the presence of controlling shareholders were positively related to profitability and negatively to asset quality. Hence, the ownership structure is per se a relevant factor to be monitored and regulated.
Author : Bruno Buchetti
Publisher : Springer Nature
ISBN 13 : 3030975754
Total Pages : 163 pages
Book Rating : 4.0/5 (39 download)
Download or read book Corporate Governance in the Banking Sector written by Bruno Buchetti and published by Springer Nature. This book was released on 2022-05-11 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book gives an overview of the most important theories on Corporate Governance, investigating the myth and the reality of it. It argues that within the banking sector exist two new agency costs (i.e., bank depositors and shareholders vs. directors and bank depositors vs. shareholders and directors). These agency problems are difficult to reduce for two reasons. First, banks are complex and opaque. Second, government implicit guarantees and the deposit insurance systems reduce the monitoring of depositors. This book also takes a deep dive into research on CG in the banking sector via a unique and innovative literature review covering the time period between 2000-2020. It finds that some specific CG characteristics affect banks: risk appetite, performance, accounting quality, compensation and corporate social responsibility disclosure. Furthermore, this publication contends that institutional investors are changing CG for the better, describing how major financial markets factors such as rating agencies and sell-side financial analysts make CG visible. Additionally, it investigates how managerial biases and irrational investors can affect CG negatively, leading to company distress. All-in-all, this book makes a threefold contribution: for regulators, it offers suggestions on how to improve banks’ supervision; for researchers, it suggests new research topics; and for practitioners, it connects CG theory with real cases of CG failure.
Author : Leonardo Giani
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (129 download)
Download or read book Ownership and Control of Italian Banks written by Leonardo Giani and published by . This book was released on 2010 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work does a short inquiry into the past experience of the Italian banking law and the ownership structure of the Italian credit industry. The inquiry is especially focused on the role played by culture and other historical events (e.g. political ones) in shaping the Italian economic framework. In other words, this paper wants to trace a short and descriptive outline of the evolution of the Italian banks' ownership structure in order to show how political and social factors counted in determining the present features of the system.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451819986
Total Pages : 111 pages
Book Rating : 4.4/5 (518 download)
Download or read book Italy written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-03-14 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment for Italy. The assessment reveals that Italy’s financial system is sound, and no major vulnerabilities that could cause systemic risks are identified. The deep restructuring of the banking sector in the 1990s has helped improve the efficiency and competition of the Italian banking industry. Most standard performance indicators are now broadly in line with those of other large European countries. Competition in the Italian banking sector has not yet been fully reflected in the pricing and quality of core services.
Author : Randall K. Morck
Publisher : University of Chicago Press
ISBN 13 : 0226536831
Total Pages : 700 pages
Book Rating : 4.2/5 (265 download)
Download or read book A History of Corporate Governance around the World written by Randall K. Morck and published by University of Chicago Press. This book was released on 2007-11-01 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Author : Thomas Clarke
Publisher : Routledge
ISBN 13 : 1134135971
Total Pages : 752 pages
Book Rating : 4.1/5 (341 download)
Download or read book European Corporate Governance written by Thomas Clarke and published by Routledge. This book was released on 2009-06-24 with total page 752 pages. Available in PDF, EPUB and Kindle. Book excerpt: For decades, Europe has sought to become more financially integrated with the United States and thus European legal institutions, regulatory, governance and accounting practices have faced pressures to adapt to international competitive markets. Against this backdrop, European corporate governance systems have been criticized as being less efficient than the Anglo-American market based systems. This textbook examines the unique dimensions and qualities of European corporate governance. Reforms of key institutions, the doctrine of shareholder value and the seemingly irresistible growth of CEO power and reward are critically analyzed. The book brings out the richness of European corporate governance systems, as well as highlighting historical weaknesses that will require further work for a sustainable corporate governance environment in the future. In light of the most severe financial crisis since the 1930s, this intelligent look at European corporate governance is a vital textbook for courses on corporate governance and a great supplementary textbook on a host of business, management and accounting classes.
Author : Wolfgang Streeck
Publisher : Oxford University Press
ISBN 13 : 0199280452
Total Pages : 309 pages
Book Rating : 4.1/5 (992 download)
Download or read book Beyond Continuity written by Wolfgang Streeck and published by Oxford University Press. This book was released on 2005 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book examines current theories of institutional change. The chapters highlight the limitations of these theories. Instead a model emerges of contemporary political economies developing in incremental but cumulatively transformative processes"--Provided by publisher.
Author : Caterina Giannetti
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (254 download)
Download or read book Intensity of Competition and Market Structure in the Italian Banking Industry written by Caterina Giannetti and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philippos Miliotis
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.:/5 (272 download)
Download or read book Market Structure and Efficiency in Italian Banking written by Philippos Miliotis and published by . This book was released on 1992 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rym Ayadi
Publisher :
ISBN 13 : 9789461380425
Total Pages : 0 pages
Book Rating : 4.3/5 (84 download)
Download or read book Investigating Diversity in the Banking Sector in Europe written by Rym Ayadi and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A midst stormy waters, financial systems develop and evolve. New institutional forms and instruments are invented and put into use. Some of them turn out to be successful while others disappear: a natural process of creative and dynamic competition argues for diversity. Diversity offers an optimal environment in which new ideas can come to life, existing ideas can evolve and old ideas make a comeback. In the aftermath of the financial crisis, the foundations of several decades of modern and innovative financial systems have suffered serious damage. This has triggered massive state interventions and has led authorities to revamp the regulatory structures and frameworks. While many voices have called for a return to more traditional approaches to banking and finance, no one has argued the merits of diversity. This book investigates the merits of a diverse banking system with a special focus on the performance and role of cooperative banks in seven European countries where they are prominent (Austria, Finland, France, Germany, Italy, the Netherlands and Spain). The theoretical and empirical arguments that are developed in this book tend to support the view that it is economically beneficial to have stakeholder-value banks with a dual bottom-line function, such as cooperative banks. For those who accept this premise, it would suggest that policy-makers should not take or support actions that could jeopardise this valuable element of the financial system in various countries in Europe and of the emerging integrated European financial system. Book jacket.
Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
ISBN 13 : 1484311515
Total Pages : 60 pages
Book Rating : 4.4/5 (843 download)
Download or read book Italy written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-09-27 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment report provides a review of .Italian financial system. The announcement of outright monetary transactions (OMT) and steps toward a banking union have blunted the impact of the sovereign debt crisis on banks, and the expansion of European Central Bank (ECB) liquidity facilities has temporarily shielded Italian banks from wholesale funding volatility. Stress tests suggest that the system as a whole is able to withstand both the already weak baseline macro outlook and the phase-in of Basel III requirements.
Author : James R. Barth
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4./5 ( download)
Download or read book Banking Systems Around the Globe written by James R. Barth and published by World Bank Publications. This book was released on 2000 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical results highlight the downside of imposing certain regulatory restrictions on commercial bank activities. Regulations that restrict banks' ability to engage in securities activities and to own nonfinancial firms are closely associated with more instability in the banking sector, and keeping commercial banks from engaging in investment banking, insurance, and real estate activities does not appear to produce positive benefits.
Author : Carmelo Intrisano
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Financial Structure of Italian Companies written by Carmelo Intrisano and published by . This book was released on 2014 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The choice of capital structure by firms is a recurring topic of corporate finance and evolving on a theoretical and empirical level. On a theoretical level, scholars propose variations to the models by removing the theoretical hypothesis or expanding variables considered, likewise, on an empirical level, researchers provide survey, which contributions aimed at increasing the understanding of the phenomenon as a whole, considering the possible events in the variety and variability of firms. In particular, one of the most debated topics in the literature regards the existence or absence of relationship between the choices of financial structure and firm value, or the determination of an optimal leverage for the value. Therefore, the attention of researchers has focused on the identification of relationship between debt and equity that maximizes firm's performance and meet shareholders' expectations in terms of return on capital employed for the same risk. Hence, the aim of this paper is to provide another piece to the cognitive complexity of the phenomenon, focusing the research on Italian firms, given the importance of leverage in the financial structure of Italian firms. The methodology used is based on the analysis conducted using the Mediobanca database aggregated sector by sector to identify the main determinants of financial structure. The conclusion is that it is not possible to say with certainty which financial structure theory better represents the behavior of Italian firms concerning financial structure.
Author : Damiano Bruno Silipo
Publisher : Springer Science & Business Media
ISBN 13 : 3790821128
Total Pages : 242 pages
Book Rating : 4.7/5 (98 download)
Download or read book The Banks and the Italian Economy written by Damiano Bruno Silipo and published by Springer Science & Business Media. This book was released on 2009-04-22 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Damiano Bruno Silipo In the 1990s the Italian banking system underwent profound normative, institutional and structural changes. The Consolidated Law on Banking (1993) and that on Finance (1998) instituted the legal framework for a far-reaching overhaul of the Italian banking and ?nancial system: signi?cant relaxation of entry barriers, the liberalization of branching, the privatization of the Italian banks, and a massive process of mergers and acquisitions. Following the Bank of Italy’s liberalization of branching in 1990, in 10 years the number of bank branches increased by 70% in Italy, while in the rest of Europe it declined. Over the decade the average number of banks doing business in a province rose from 27 to 31, while a wave of mergers (324 operations) and acquisitions (137) revolutionized the Italian banking industry, reducing the overall number of Italian banks by 30%. To a signi?cant extent this concentration represented take-overs of troubled Southern banks by Central and Northern ones. As a result of these developments (plus a rise in banking productivity and a fall in costs), the spread between short-term lending and deposit rates fell from 7 percentage points in 1990 to 4 points in 1999. And despite an increase in concentration in a number of local credit markets, the interest-rate differential between the locally dominant and other banks generally narrowed.
Author : Claudia Curi
Publisher : Springer
ISBN 13 : 3319908669
Total Pages : 61 pages
Book Rating : 4.3/5 (199 download)
Download or read book Bank CEOs written by Claudia Curi and published by Springer. This book was released on 2018-05-22 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book thoroughly explores the characteristics and importance of bank CEOs against the backdrop of growing awareness of the social implications of CEO behavior for the performance and stability of the financial and economic system. After an introductory section on the relevance of CEOs in the banking industry, the connections between the bank CEO labor market, contractual incentives, and compensation structures are examined. The focus then turns to empirical findings concerning the impact that bank CEO compensation has on various firm-level outcomes, such as bank performance and strategies. In addition, the relation between CEO turnover and changes in compensation policies since the financial crisis is discussed. A concluding section presents some fresh empirical evidence deriving from an up-to-date database of traits of CEOs operating in the largest European banks. For PhD students and academics, the surveys offer detailed roadmaps on the empirical research landscape and provide suggestions for future work. The writing style ensures that the content will be readily accessible to all industry practitioners.
Author : Robert Cull
Publisher : International Monetary Fund
ISBN 13 : 1475588127
Total Pages : 49 pages
Book Rating : 4.4/5 (755 download)
Download or read book Bank Ownership written by Robert Cull and published by International Monetary Fund. This book was released on 2017-03-22 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents recent trends in bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks are more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are tradeoffs, since foreign-owned banks can transmit external shocks and might not always expand access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.
