Cross-ownership and interlocking directorates are two typical features of Italian capitalism involving both banks and non-financial companies. It is possible to refer to this phenomenon as “bank-firm connection”. The paper investigates the effects of “bank-firm connection” on the conditions of credit relationship. In particular, we find that the “bank-firm connection” lowers the leverage ratio ...

Purpose By adopting network analytic techniques, this paper aims to examine interlocking directorates among firms operating in the hospitality services sector seven major Italian tourism destinations. Design/methodology/approach The authors collected information for all hotel corporations whose headquarters are located top destinations: Florence, Milan, Naples, Rimini, Rome, Turin and Venice. D...