Bank of Italy

The fourth BI-CEPR Conference on Money, Banking and Finance took place in Rome on 2-3 October 2009. The focus of this edition was on Corporate Governance, Capital Structure and Firm Performance. The aim was to analyze the relations between financial structure, corporate governance and company performance in an economic environment that is changing rapidly as a result of technological innovation, globalization and the current financial crisis.

Contact Person: Alessandra Piccinini (alessandra.piccinini@bancaditalia.it)

Programme

Programmepdf 36.8 KB Publish date::08 September 2009

Session I - Control Mechanisms: Pyramids, Families, Dual Class Shares

Giovanni Pica (Università di Salermo): The Deep Pocket Effect of Internal Capital Marketspdf 283.2 KB Publish date::07 October 2009
Discussant: Francesco Columba (Banca d'Italia)ppt 173.0 KB Publish date::07 October 2009
Marco Pagano (Università di Napoli Federico II and CEPR): Inheritance Law and Investiment in Family Firmspdf 401.4 KB Publish date::07 October 2009
Yishay Yafeh (Hebrew Univeristy of Jerusalem and CEPR): Long Term Changes in Voting Power and Control Structurepdf 307.5 KB Following the Unification of Dual Class Shares Publish date::07 October 2009

Session II - Real Impact of Banks’ Difficulties

Giovanni Dell'Ariccia (International Monetary Fund): Lender Behavior During Credit Cyclespdf 517.7 KB Publish date::07 October 2009
Discussant: Alexander Popovppt 267.0 KB Publish date::07 October 2009
Mariassunta Giannetti (Stockholm School of Economics and CEPR) On the Real Effects of Bank Bailouts: Micro-Evidence from Japanpdf 259.3 KB Publish date::07 October 2009
Discussant: Kasper Roszbach (Riksbank Sweden)ppt 251.0 KB Publish date::07 October 2009
José Luis Peydro-Alcalde (European Central Bank): The Impact of Economic and Monetary Conditions on Loan Supplypdf 1.2 MB Identifying Firm and Bank Balance Sheet Channels Publish date::07 October 2009
Discussant: Nicola Cetorelli (New York FRB)ppt 385.0 KB Publish date::07 October 2009
Hamid Mehran (Federal Reserve Bank of New York): What Do We Know About Executive Compensation at Privately Held Firms?pdf 649.5 KB Publish date::07 October 2009
Discussant: Massimiliano Stacchini (Banca d'Italia)ppt 234.0 KB Publish date::07 October 2009

Session III - The Role of Managers in Corporate Governance

Alexander Ljungqvist (New York University and CEPR): Monitoring Managers: Does it Matter?pdf 325.9 KB Publish date::07 October 2009
Discussant: Fausto Panunzi (Università Bocconi)pdf 66.5 KB Publish date::07 October 2009
Konrad Raff (Toulouse School of Economics): Performance Pay, CEO Dismissal and the Dual Role of Takeoverspdf 242.2 KB Publish date::07 October 2009
Discussant: Andrei Simonov (Michigan State University and CEPR)ppt 683.0 KB Publish date::07 October 2009
Francesco Lippi (Università di Sassari and CEPR): Corporate Ownership and Manager Selectionpdf 303.9 KB Publish date::07 October 2009
Discussant: Yossi Spiegel (Tel Aviv University)ppt 42.5 KB Publish date::07 October 2009

Corporate Governance, Capital Structure and Firm PerformanceFourth BI-CEPR Conference on Money, Banking and Finance - Rome, 2-3 October 2009

Programme

Session I - Control Mechanisms: Pyramids, Families, Dual Class Shares

Session II - Real Impact of Banks’ Difficulties

Session III - The Role of Managers in Corporate Governance

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