Research
Investment banking in Europe: where we are and where we are going
The key question of this paper is whether the size and the structure of the investment banking industry in the EU is functional to the characteristics of European investors and companies
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The Italian corporate bond market: what is happening to the capital structure of Italian non-financial companies?
The key question of this edition of the paper is what drives Italian companies to issue a bond for the first time (inaugural offering) and the determinants of the pricing of that bond at launch. Looking at the pricing of these bonds, we identify credit rating, issue size and proximity with investors as the key determinants of their yields at launch.
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Why do Italian companies go public? An empirical analysis of the period 2006-2016
The key question of this edition of the paper is why Italian companies decide to go public or, conversely, why they decide to stay away from capital markets. Findings show that firms go public when their pre-IPO characteristics are such that the arguments in favour of an IPO prevail over the arguments against it.
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Does Investing in Italian Capital Markets Pay? The Past Decade Perspective
In this new paper, BAFFI CAREFIN looks at the performance of Italian equity and debt capital markets in the past decade. Findings indicate that, contrary to conventional wisdom that sees Italian markets underperforming other European markets, a careful asset allocation by investors on some selected segments and financial instruments could have led to a significant performance.
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Benchmarking the UK Market: A way to create an efficient and effective capital market in Italy?
This third joint project carried out a benchmarking exercise involving the UK and Italian contexts. The objective was not to identify what is good (or better) and what is not. The paper compares the two countries to show how a different political economy view can impact the functioning of financial markets, the behaviour of investors, and the financial policies of corporations.
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Capital Markets and Investors in Italian Securities: Is There a Communication Breakdown?
This second joint project “analyses the attitude of investors towards equity and debt securities issued by Italian companies in an effort to assess their potential role in financing Italian companies.
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The Capital Markets for Italian Companies: A Resource to Relaunch the Country and Renew Growth
Rebuilding the positive connection between finance and development through adequate financial support for businesses: this is an essential prerequisite for Italy’s growth. Today’s depressed economy combined with unsolved structural problems diminish the potential for investment and development.
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