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The Relationship Between Ownership And Performance In The Italian Banking Industry
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Book Synopsis The Relationship Between Ownership and Performance in the Italian Banking Industry by :
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.
Book Synopsis Ownership Structure, Behavior and Performance of the Italian Banking Industry by : Francesco Aiello
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:
Book Synopsis A History of Corporate Governance around the World by : Randall K. Morck
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.
Book Synopsis Ownership and Control of Italian Banks by : Leonardo Giani
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.
Book Synopsis A Counterfactual Analysis of the Bank-Industry Relationship in Italy, 1913-1936 by : Carlo Drago
Download or read book A Counterfactual Analysis of the Bank-Industry Relationship in Italy, 1913-1936 written by Carlo Drago and published by . This book was released on 2013 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until the Banking reform in 1936, banks and industrial companies in Italy were strongly intertwined (both in terms on ownership and interlocking directorates). Using Imita.db - a large a dataset containing data on over 300,000 directors of Italian joint stock companies - this paper analyses what would have happened to the Italian corporate network in the years 1913, 1921, 1927 and 1936 if the "mixed banks" and their directors would have not been there. Our experiments show that new centers of the system would have emerged (financial and electricity and phone companies), confirming the interconnected nature of the Italian capitalism. We also analyze two industries, textiles and iron and steel, characterized by different labor-to-capital intensities to check for sectoral differences. Contrary to conventional wisdom, we find that local banks were important in funding both industries. Overall we call into question the role of mixed banks.
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.
Book Synopsis Corporate Governance, Financial Markets and Global Convergence by : Morten Balling
Download or read book Corporate Governance, Financial Markets and Global Convergence written by Morten Balling and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: for many years been heavily dependent on bank financing, and this situation has not changed fundamentally. In his paper on stock exchange governance in the European Union Guido Ferrarini discusses the relative merits of member and investor ownership and compares stock exchange regulation in a number of EU countries. Faced with increasing competition amongst themselves and against other enterprises that offer transaction services, such as proprietary trading systems, it is essential for European stock exchanges to improve their efficiency and to generate volume. Large investments in new information technology are necessary in order to preserve competitiveness in agIobaI financial market. The implementation of the ISD has accelerated cross-border transaction activity of member firms and investors and strengthened the pressure for convergence of national stock exchange laws in the EU. In their paper, Francesco Giavazzi and Marco Battaglini look at the role played by banks in privatization processes. Banks can be involved in such processes in several ways. They may themselves be the objects of privatization since in many countries a significant fraction of the banking industry is publicly owned. This is the case in France, Spain and Italy. But banks can also be important buyers of the equity of industrial firms sold by the government if they are allowed to do so. The authors characterize privatizations as a very good opportunity to set up the right environment for the development of new financial intermediaries and in general for asound corporate governance system.
Book Synopsis ICICKM2010-Proceedings of the 7th International Conference on Intellectual Capital, knowledge Management and Organisational Learning by : Eric Tsui
Download or read book ICICKM2010-Proceedings of the 7th International Conference on Intellectual Capital, knowledge Management and Organisational Learning written by Eric Tsui and published by Academic Conferences Limited. This book was released on with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Beyond Continuity by : Wolfgang Streeck
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.
Book Synopsis Bovernance and Bank Valuation by : Gerard Caprio
Download or read book Bovernance and Bank Valuation written by Gerard Caprio and published by World Bank Publications. This book was released on 2003 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Which public policies and ownership structures enhance the governance of banks? This paper constructs a new database on the ownership of banks internationally and then assesses the ramifications of ownership, shareholder protection laws, and supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks are not widely held, but rather families or the State tend to control banks. We find that (i) larger cash flow rights by the controlling owner boosts valuations, (ii) stronger shareholder protection laws increase valuations, and (iii) greater cash flow rights mitigate the adverse effects of weak shareholder protection laws on bank valuations. These results are consistent with the views that expropriation of minority shareholders is important internationally, that laws can restrain this expropriation, and concentrated cash flow rights represent an important mechanism for governing banks. Finally, the evidence does not support the view that empowering official supervisory and regulatory agencies will increase the market valuation of banks"--NBER website
Book Synopsis Investigating Diversity in the Banking Sector in Europe by : Rym Ayadi
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.
Book Synopsis The Convergence of Corporate Governance by : Abdul Rasheed
Download or read book The Convergence of Corporate Governance written by Abdul Rasheed and published by Springer. This book was released on 2012-06-12 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes readers through an in-depth examination of many leading industrialized nations and identifies both the drivers that propel corporations towards convergence and the major impediments that stand in the way of convergence. Also examines many mechanisms of convergence such as governance codes, MNCs, and IPOs.
Book Synopsis The Italian Banking System by : Stefano Cosma
Download or read book The Italian Banking System written by Stefano Cosma and published by Springer. This book was released on 2012-11-13 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why was the Italian Banking System more resilient during the sub-prime crisis and harder-hit in the sovereign crisis? Will their strength in the retail market result as an asset or a liability for Italian banks in the future? This book offers an in-depth analysis of one of the most important EU banking systems its attempts to weather the crisis.
Book Synopsis The Banks and the Italian Economy by : Damiano Bruno Silipo
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.
Book Synopsis Relationship Between the Italian Banking System and the Small and Medium Sized Companies by : Luigi Coccioli
Download or read book Relationship Between the Italian Banking System and the Small and Medium Sized Companies written by Luigi Coccioli and published by . This book was released on 1980 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reforming the Financial Sector in Central European Countries by : S. Poloucek
Download or read book Reforming the Financial Sector in Central European Countries written by S. Poloucek and published by Springer. This book was released on 2016-01-13 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis in this book reflects various aspects of financial sector transformation in selected Central European countries that are expected to join the EU in 2004. The authors are Central European financial experts who provide, among other things, a detailed overview of the following main topics: Banking Regulation and Supervision; Concentration and Efficiency of the Banking Sectors; Financial (banking) crises in selected Central European countries; and Monetary and Exchange Rate Development. The results of the research done by these authors reflect an interesting fact: that there exist important differences in the financial sector development even in the relatively homogeneous group of selected Central European countries, namely the Czech Republic, Poland, Slovakia and Hungary.
Book Synopsis Income Diversification in the Chinese Banking Industry: Challenges and Opportunities by : Zhixian Qu
Download or read book Income Diversification in the Chinese Banking Industry: Challenges and Opportunities written by Zhixian Qu and published by Springer Nature. This book was released on 2020-05-26 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the historical financial reforms and regulatory changes in China, highlighting the background to and causes of changes in the income structure of China's banks. It also investigates ongoing concerns with regard to banking diversification in China, and its consequences, amid the global trend of banks’ shift to non-traditional businesses. Focusing on three critical aspects of bank-income diversification, namely the effects on profitability, risk level, and efficiency, it employs the concept of systemically important banks, which describes the scale and degree of influence a bank has in global and domestic financial markets. More importantly, rather than replicating techniques employed in the research on developed markets, it applies several improved methodologies to address bank diversification in the specific context created by China’s unique institutional background and data characteristics, such as GMM-type threshold models and stochastic frontier analysis with the within maximum likelihood estimation. Shedding new light on the current status of income diversification in the Chinese banking sector, this book is a valuable resource for readers in fields such as banking and financial stability. It will also help banking professionals and financial regulatory authorities to better understand the reform of China's financial industry and the future direction of banking.
