Carlo Bellavite Pellegrini
Systemic Risk Determinants in the European Banking Industry during Financial Crises, 2006-2012 digital
format: Article | RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2018 - 2
The recent financial turmoil has stimulated a rich debate in banking and financial literature on the identification of systemic risk determinants and devices to forecast and prevent crises. This paper explores the contribution of corporate variables to systemic risk using the CoVaR approach (Adrian and Brunnermeier, 2016)...
Is Corruption Detrimental for Stock Returns? Evidence from a Panel of Latin American Firms (2004-2013): A Note digital
format: Article | RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2017 - 1
This paper empirically investigates the impact of national level of corruption on stock returns for a panel of listed firms in Latina America for the period 2004-2013. Two measures of corruption are used...
A leap forward over the wall: Italian economy and economic thought in the Fifties digital
format: Article | RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2013 - 3-4
May the history of economic thought be a useful device for addressing a sustainable path...
Why Do Italian Joint Stock Companies Adopt One or Two-Tier Board? digital
format: Article | RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2010 - 1
The possibility to choose between two alternative corporate governance systems (i. e. one-tier and two-tier board) was introduced in Italy by the Corporate Law Reform at the beginning of 2004. This reform, which provides for the adoption of a one- or a two-tier board for both listed and unlisted joint stock companies, has modified the traditional Italian corporate governance system based on a board of directors and an external audit committee, although the percentage of firms adopting the alternative systems is still low. This survey implements probit regressions in order to identify the determinants of the adoption of alternative corporate governance systems. Results provide evidence that corporations with better performances in terms of sales, such as corporations that are subject to control and coordination prefer to maintain a traditional system. Conversely, firms with ownership in the hands of a high proportion of individual shareholders prefer a one-tier model. Key words: Corporate governance, One tier and two tier board, Joint stock companies. JEL Classification: G34, K22, M42.