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N° 4 April 2013

N° 4 April 2013

Taxation or regulation in preventing systemic risk? The political distortion Donato Masciandaro, Francesco Passarelli O23, O43, O51 Free riding leads to excess risk production. This problem may be solved, at least partially, either by financial regulation or by taxation. From a normativ...

Relationship banking and organizational models: a new structure for UniCredit Group in Italy Zeno Rotondi G01, G21 After the crisis, larger banks – and among them UniCredit – are redefining their organization towards a more decentralized decision-making process, increas...

Z-Score Models’ application to Italian companies subject to extraordinary administration Edward I. Altman, Alessandro Danovi, Alberto Falini G30, G33 This paper analyzes the methods of rating attribution of the major international agencies (Moody’s, Fitch and Standard & Poor’s) between 2005 and 2010 for ...

Funding costs and mortgage pricing: a new puzzle Giuseppe Lombardo G21, G23 The rise in the cost of funding is having a deep impact in the market of mortgages. Their pricing has thus soared, adding a new component to bank costs...

Bank accounts and financial assets taxation, the new Italian rules Enzo Mignarri G28, K34 Current accounts and financial assets reports are subject in Italy to a stamp duty, which has recently been modified and has assumed the characteristics of...

Pre-insolvency agreements: recent innovations in Italy Alfonso Castiello D’antonio G21, K41 The recent Italian bankruptcy law reform has innovated the preinsolvency system for corporate crisis management, particularly with regard to debt restructu...

Business models and strategies of Italian banks Anna Omarini G21, M10 Italian banks should redefine their strategies strengthening the role of business models in order to be more innovative and competitive in the actual scena...

Valuation methods for banks: should we take into account more risk? Daniele Previtali G12, G21 The valuation methodologies recognized and applied to banks are not bank-specific but are based on simplifications that result from standard methods inadeq...

A study on late eighteenth-century Rome: the Apotheosis of Psyche in the Pompeian Hall of Palazzo Altieri Sonia Cavicchioli, Miriam Mirolla