Francesco Campanella

The role of information in the credit relationship

A relationship between banks and firms that emphasizes the qualitative aspects of the enterprises may represent a response to the increasing difficulties of the credit system in financing a business system in which the intangible assets are the main source of value. In this view, an empirical survey on 61 bank managers of large and small banks has been carried out to verify the following: (1) the role of quantitative and qualitative information in the financing of large companies and small and medium enterprises and (2) how the relationship between bank and firm varies together with the dimensional change of the actors involved in the credit relationship.

The bank of things: An empirical investigation on the profitability of the financial services of the future

The aim of this research is to study the existing relationship between the products offered by the banks of things and the relative Return on Equity (ROE). This can be used to highlight the benefit of carrying out investments to transform traditional banks into banks of things.,The sample used in this empirical research contained 3,692 banks that, in 2013, were located in 28 European countries. To determine whether the IoT has an effect on the banks’ profitability, the authors employed the classification analysis method (Classification and regression tree).,The empirical analysis shows that a high ROE for banks is expressed by the following features: 1) banks offer IoT retail services to customers; 2) banks offer IoT corporate services to customers; 3) banks offer customers a large number of home banking services; 4) finally, banks offer customers a large number of traditional investment services.,Our survey covers a sample of European banks. It would be necessary to extend the sample to other geographical areas. It would be possible to generalize the results.,Scientific research on the implications of the “Bank of things” are still few and fragmented.

Knowledge sharing and exchange of information within bank and firm networks: the role of the intangibles on the access to credit

Purpose – The purpose of this paper is to theoretically develop the idea that the intangible value of the collaboration between firms and the banking system can influence the probability of default (PD) on the part of firms and, therefore, their rating. The authors also propose that collaboration between banks and firms has a positive effect not only on the access to credit but also on the innovation activities and on the intervention of foreign capital in the ownership of Italian businesses. Design/methodology/approach – As pointed out by the literature on smaller businesses finance, investments widely rely on credit availability. Tests using data on a sample investigation involving 5,587 firms, operating in 17 manufacturing sectors in Italy, support the majority of the proposed ideas. Findings – The empirical investigation shows that only some aspects of the collaboration between enterprises and banks influence the PD, the investments in R&D and the internationalisation of ownership of the enterprises. ...

Creating conditions for innovative performance of science parks in Europe. How manage the intellectual capital for converting knowledge into organizational action

Purpose – The purpose of this paper is to discuss the concept of innovative performances for science parks as a framework for understanding how effectively human and structural capital (i.e. intellectual assets) are leveraged. The key point is fostering main determinants to investigate and/or make sense of key management activities/factors shaping the evolution and performance of knowledge creating processes. Design/methodology/approach – The study was based on the quantitative and qualitative values, for the period 2000-2011, gathered from a sample of 901 public and private organizations located in the 21 European Union (EU) countries. With regard to the methodology, the hypothesis testing first required an analysis of the correlations between the investigation variables, and then the use of regression analysis to study the relationships between the innovative performance of the research institutions, and the financial, organizational and knowledge characteristics of the science parks investigated. Findi...

Ambidextrous organizations in the banking sector: an empirical verification of banks’ performance and conceptual development

AbstractThe aim of the research is to identify the relationship between organizational ambidexterity (OA) and firm performance, based on a large-scale empirical study incorporating 3883 commercial and investment banks across 28 European countries. In parallel, it seeks to investigate and comprehend the potential effects of exploration and exploitation on performance. Through the classification analysis method, it is found that banks with high return on equity are typified by the OA transformative determinants of having high structuring, high levels of research and development expenses and being highly procedural. The research further combines the primary research findings with meta-synthetic theoretical research and experts’ interviews to compile, reconcile and integrate existing notions into a comprehensive strategic internal management framework for ambidextrous organizations. The value and originality of the work stem from its specific contributions to OA knowledge and the fact that it is based on a co...

Abnormal Returns and Fundamental Analysis in Institutional Investors’ Decision-making: An Agency Theory Approach

The purpose of this paper is to investigate the abnormal returns achieved by institutional investors. Distinguishing between institutional investors operating with a specific mandate to invest and those that operate their own choices independently from such a specific delegation, we show that the former achieve higher abnormal returns than the latter. The conceptual explanation of this result is attributable to the use of the fundamental analysis that the first type of institutional investors realized in a higher and more effective way than the second. This different approach in selecting securities might be due to the relationship between the institutional investor and the savers who provided capital. This different agency relationship might have been reflected in the institutional investors investment policies through the agent behaviour, which changes depending on the nature of the principal who has given the mandate. The empirical analysis has been conducted on a sample of 5,500 institutional investors operating all around the world in 2014, drawing data from institutional investors annual report, from their investment relations and from Bloomberg, Thomson Reuters, Bankscope, Eurostat and through Computer Assisted Telephone Interviews.