1,721,012 research outputs found
Private equity sponsors and target firms’ performance: the role of previous experience and syndication
No full textSyndication allows private equity sponsors to take over firms that would be overlooked due to lack of financial resources and/or skills. Skills come from experience, but the same amount of experience yields different skills based on specific past activity, leading to different outcomes. This study investigates the effect of different dimensions of sponsors’ experience on target firm’s operating performance in stand-alone and syndicated deals, controlling for selection bias. Findings indicate that different dimensions of experience matter; although stand-alone sponsors are more experienced, sponsors improve operating performance only within syndicates. Results are robust to another measure of operating performance and are useful for target firms, sponsors, and investors
Geological mapping reveals the role of Early Jurassic rift architecture in the dispersal of calciturbidites. New insights from the Central and Northern Apennines
No full textThe role of sea-bottom topography in the dispersal of shallow water-derived calciturbidites across a submarine rift, as determined by the local extensional architecture, is under-investigated, namely with pelagic settings along ancient passive continental margins. A comparison with modern carbonate platform/basin analogues, or with siliciclastic systems, is not always feasible, as ancient carbonate systems were commonly home to anachronistic environments (e.g. the Western Tethyan Mesozoic). Our study focuses on: (a) a reconstruction of the palaeotectonic architecture of the Umbria-Marche Basin in the Jurassic and on (b) how this architecture produced a submarine topography which governed the dispersal of sediment, shed by the neighbouring Lazio-Abruzzo Carbonate Platform, for >40 million years. A geological mapping project was performed in the Apennines of Central Italy, a region which in the Jurassic displayed a pattern of intrabasinal highs (pelagic carbonate platforms) and intervening basins which was exceedingly complex due to the high density, and oddly variable trends, of faults rooted in a shallow detachment layer corresponding to thick Triassic salt. A map pairing the occurrences of these resedimented beds with an updated palaeogeography becomes the natural descriptor of the itineraries followed by sediment gravity flows. This qualitative method represents a companion, or even alternative, approach to the one strictly based on physical stratigraphy, and it greatly improves our knowledge of regional geology and rift-basin analysis. Our case history potentially represents the analogue of hydrocarbon fields both inland and in the offshore. Geological mapping shows that the marginal palaeoescarpments of pelagic carbonate platforms formed obstacles to the gravity flows as sediment load was discharged at their toes. While turbidity flows were locally vigorous enough to climb the escarpments, leaving overbank deposits on the pelagic carbonate platform-tops, a ‘shelter’ effect is evidenced by the resediment-free nature of those basins lying downflow, which were shielded by the highs
Il costo del recupero del credito e i tempi di rivalsa
No full textIl volume affronta il tema della cessione del quinto dello stipendio nell'ottica dei paesi emergenti (Cina, Brasile e India)
L’innovazione nel credito al consumo: cause ed effetti
No full textThe Italian banking system has entered with belief the segment of consumer credit since the late eighties. The number of specialized firms increased rapidly and this area experienced an unstoppable development, which exceeded all expectations. At the same time, the products of consumer financing showed a tendency to expansion and innovation, despite their apparent simplicity, driving the market to maturity. The work explores the link between innovation and consumer credit setting itself the goal of identifying and describing the main improvements (of products and processes) registered in the European markets. Causes and effects of innovation were also examined. The study takes the observation of reality as their starting point through a survey carried out on several intermediaries selected between the most creative and influential in the markets of Great Britain, France and Spain. The analysis distinguishes between the strategies implemented by generalist and specialized banks
Banche e Pmi: bisogni e aspettative all’alba della ripresa
No full textIl rapporto tra piccole e medie imprese e banche, essenziale per entrambe, può e deve cambiare nel nuovo scenario. Come emerge da un’ampia indagine su un campione di Pmi, esistono numerosi spunti per migliorare la qualità di un rapporto che può considerarsi la struttura portante dell’economia italiana. In tal modo, le imprese potranno superare una visione tradizionale
della banca come soggetto esclusivamente finanziatore, e le banche acquisiranno nuove opportunità di mercato e di ottimizzazione della propria struttura finanziaria.An Italian survey analyzes the characteristics of the relationship between Smes and banks in Italy in order to identify some possible changes and corrective actions to improve the quality of this relationship that can be considered the backbone of the Italian economy
Efficacia dell'azione di vigilanza: impatto dele sanzioni amministrative sulla performance e sul rischio degli intermediari finanziari
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