Search results for " financial innovation."

showing 6 items of 6 documents

I credit derivatives nell’economia dei sistemi finanziari tra innovazione e criticità

2011

Il lavoro è volto a comprendere il ruolo degli strumenti credit derivatives nell’economia dei sistemi finanziari. I credit derivatives rappresentano una significativa forma di innovazione finanziaria che incide direttamente sull’attività degli intermediari finanziari e, in particolare, bancari. Il ricorso al mercato dei credit derivatives rende possibile il trasferimento integrale o parziale dei rischi di credito senza il contestuale trasferimento delle singole esposizioni creditizie. Ciò dischiude una varietà di scelte aziendali di de-integrazione della catena del valore dell’intermediazione creditizia e di diversificazione del portafoglio crediti che, tuttavia, non sempre conducono ad una…

risk transfer credit derivatives financial innovation financial crisis risk managementSettore SECS-P/11 - Economia Degli Intermediari Finanziari
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Il caso Conto arancio: così vince la comunicazione

2011

Settore SECS-P/11 - Economia Degli Intermediari Finanziariretail banking financial innovation bank marketing communication business model bank deposit.
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I tratti distintivi dell’economia degli intermediari bancari: un approccio di analisi funzionalista.

2012

This paper aims to examine the basic functions performed by banks. It is argued that financial crisis has altered the traditional economics of banking in an important way. A key element of our paper is the use of a functional perspective to study the economics of banking. It is applicable at several levels of analysis: systems, institutions, activities, and products. The application of the functional perspective at the level of financial institutions is particularly useful because the functions are more stable than activities and products.

Settore SECS-P/11 - Economia Degli Intermediari FinanziariFinancial crisis Banking Financial innovation Financial intermediation Bank functions.
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Modelli innovativi di lending value chain degli intermediari bancari: implicazioni finanziarie ed economico-aziendali.

2011

L’articolo mette al centro dell’analisi la catena del valore del lending business nell’economia degli intermediari bancari, quale momento qualificante e decisivo per lo studio dei processi di de-integrazione verticale nel settore dell’intermediazione creditizia. Il modello innovativo di business dell’intermediazione creditizia, denominato originate and distribute, ha contribuito a trasformare quasi “geneticamente” l’intermediario bancario, con rilevanti effetti di instabilità sistemica, che hanno interessato la struttura e il funzionamento dei sistemi finanziari.

Settore SECS-P/11 - Economia Degli Intermediari Finanziarilending banking value chain financial innovation business models financial intermediation.
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Innovazione finanziaria e instabilità: il trasferimento del rischio di credito

2011

This paper aims to point out the role of credit risk transfer market in the financial system. The advent of a credit risk market has profoundly altered the role of banking firms into one of asset originator and asset distributor rather than the asset holder. The traditional economics of banking has changed in an important way and the new business model has evolved as a result of financial innovation. The main results of the paper are that the lending process disintegration and the development of the credit risk transfer market represent a key element in the recent financial risis. Incentive structures faced by various agents in the financial intermediation chain also became dysfunctional. B…

credit risk risk transfer lending financial crisis financial innovation.Settore SECS-P/11 - Economia Degli Intermediari Finanziari
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Project finance in the energy industry: new debt-based financing models

2012

The paper aims to examine the development of new financing models for project finance to attract private investors to finance large European energy infrastructure projects. In particular, the paper investigates the uniqueness of the project finance as a rapidly growing field in finance, the financial characteristics of the project bond market as one of the vehicles for funding energy projects, and the role of the credit support provided by the European Investment Bank and the European Union to promote the bond-based financing schemes. The paper is organized as follows. Section 1 provides a general description of project finance. Section 2 identifies the economic reasons for using project fi…

Financebusiness.industrySettore SECS-P/11 - Economia Degli Intermediari FinanziariEnergy (esotericism)media_common.quotation_subjectBondProject finance Energy industry Project bond Credit enhancement Rating financial innovation.Energy infrastructureInvestment bankingDebtProject financeBond marketmedia_common.cataloged_instanceEuropean unionbusinessmedia_common
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