In my course on the enterprise and financial risk last semester, we talked about the peculiar (or idiosyncratic) nature of Italian firms across a number of matters:
Relationship banking; Firm governance: family ownership, equity distribution and aspects of firm strategy and operations; Firm capital structure (leverage risks in particular); Firm dividend policy choices, etc. Now, let’s add to that literature something new. A recent paper from the Banca d’Italia, titled ‘Investment and investment financing in Italy: some evidence at the macro level’ by Claire Giordano, Marco Marinucci and Andrea Silvestrini (Banca d’Italia Occasional paper Number 307 – February 2016) looks at the evolution of the Global Financial Crisis and the Great Recession across the Italian economy in terms of credit fundamentals.
This post was published at True Economics on Friday, September 2, 2016.
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