Financial structure in Italian business groups

Financial Fragility and Growth Dynamics of Italian Business Firms

This work explores a number of properties investigated in the empirical literature on firm size and growth dynamics: (i) the distribution and the autoregressive structure of firm size; (ii) the existence of size-growth scaling relationships; (iii) the distribution and the autoregressive structure of scaling-free growth rates. The major novelty concerns our exploiting of a credit rating index to...

Banks’ Financial Structure and Business Cycles

A puzzling fact in macroeconomics is that small and transitory shocks seem to be followed by large and persistent fluctuations in macroeconomic variables. Theoretical models explaining this empirical fact focus on the borrower but most of them neglect to model the bank. This paper proposes a framework in which changes in the financial condition of banks can have persistent aggregate consequence...

Financial Structure and Corporate Growth: Evidence from Italian Panel Data *

We study the relationships between firm financial structure and growth for a large sample of Italian firms (1998-2003). We expand upon existing analyses testing whether liquidity constraints affect firm performance by considering among growth determinants also firm debt structure. Panel regression analyses show that more liquid firms tend to grow more. However, firms do not use their capital to...

Business Process Management on Financial Performance

Background and Aim: Business process management is a comprehensive management approach that aims to align all dimensions and activities of the organization in line with customer needs and automates all processes of the organization. The aim of this study was to determine the effect of business process management on the financial performance of Tehran University of Medical Sciences. Materials a...

The Structure of Corporate Groups: the Italian Case