102,829 research outputs found
Board characteristics and financial performance in the insurance industry: An international empirical survey
No full textThere are few studies in the literature on how the characteristics of boards of directors affect the performance of insurance companies. The purpose of this research is to investigate the characteristics of a company’s board that can have a significant impact on financial performance in the insurance sector. For this purpose, we performed a dynamic pooled regression model to test the impact of a wide range of board-specific factors. The survey has been conducted on an international sample of 119 listed insurance companies operating in the period 2009-2019. The sample includes companies from three geographical areas: North America, Europe and Asia. Our findings
provide evidence that board structure and board independence are the most relevant governance factors, with a potentially positive impact on insurers’ market performance. These findings indirectly outline the opportunity for insurance companies to improve corporate fair value by strengthening internal governance models through effective board policies, an adequate qualification of board members and a well-balanced membership of the board. At the same time, there is still room for improvement as regards the level of board independence by
strengthening internal governance policies in order to maintain an adequate number of independent and non-executive board
members. The study upgrades the evidence arising from the existing literature by providing new elements to support a deeper understanding of the effects of insurance companies’ board characteristics on financial performance. Empirical results may also have important implications for both managers and policy makers
Lending activity efficiency. A comparison between fintech firms and the banking sector
No full textThe FinTech phenomenon is undoubtedly increasingly changing the morphology of the global financial system, as well as the existing competitive levers in particular sectors, including lending. The aim of this study is to offer a comparative analysis of the level of efficiency exhibited by FinTech firms operating in this sector with that of banks, which have traditionally carried out this activity. We measure efficiency levels by implementing the Stochastic Data Envelopment Analysis (SDEA). The study, referred to 2021, analyses a data set composed of all the Italian FinTech firms engaged in the lending business and all the Italian banks. We find higher efficiency levels for banks compared to FinTech firms. The results are certainly interesting both at corporate level and for regulatory purposes
Does Efficiency Matter in M&A of FinTech Firms?
No full textThe increasing presence of FinTech firms is reshaping the structure, behaviour and business models of the different players operating within the financial sector. The aim of this study is to understand whether there is any relationship between the achievement of specific efficiency levels by FinTech firms and their greater/minor involvement in M&A transactions. Since such a relationship could be in the opposite direction, the topic is important for a wide range of financial stakeholders, from individual investors to key market players and regulators. We measured efficiency via two different Stochastic Data Envelopment Analysis (SDEA) models. The results,
obtained starting from a hand-collected data set made up of Italian FinTechs operating in the period 2021–2023, show that M&A transactions essentially involved firms characterised by both
quite high or quite low levels of efficiency
Lending activity efficiency. A comparison between fintech firms and the banking sector
No full textThe FinTech phenomenon is undoubtedly increasingly changing the morphology of the global
financial system, as well as the existing competitive levers in particular sectors, including lending. The aim of this study is to offer a comparative analysis of the level of efficiency exhibited by FinTech firms operating in this sector with that of banks, which have traditionally carried out this activity. We measure efficiency levels by implementing the Stochastic Data Envelopment Analysis (SDEA). The study, referred to 2021, analyses a data set composed of all the Italian FinTech firms engaged in the lending business and all the Italian banks. We find higher efficiency levels for banks compared to FinTech firms. The results are certainly interesting both at corporate level and for regulatory purposes
I c.d. testamenti speciali
No full textL'articolo analizza la disciplina dei così detti testamenti speciali, cioè conclusi in circostanze eccezionali che precludono le forme ordinarie del testament
L'azienda (l'usufrutto de)
No full textMuovendo dalla sfuggente e controversa nozione di azienda, l'indagine tenta di fornire una collocazione sistematica dell'istituto dell'usufrutto di azienda, segnando i profili distintivi rispetto alla disciplina avente ad oggetto l'usufrutto costituito su altre specie di ben
Gli impianti, gli opifici e i macchinari (l'usufrutto de)
No full textL'articolo ricostruisce la disciplina dell'usufrutto avente ad oggetto gli impianti, gli opifici e i macchinari, anche alla luce dei collegamenti sistematici con la disciplina dell'usufrutto di aziend
Gli strumenti di attività professionale o imprenditoriale (l'uso de)
No full textLo studio muove dall'indagine in ordine al morfema "cose", su cui può essere costituito l'uso, verificando se entro di esso possa essere sussunta l'azienda in quanto data da strumenti di attività imprenditoriale. Si distingue tra gli strumenti imprenditoriali e quelli professionali e si concepisce la deducibilità in uso in ragione della funzione a cui i beni siano indirizzat
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