Home About Carefin Short Notes News and Workshops Past Workshops Working Papers Books Special Initiatives Monitor on Public Private Partnership – MP3 Faculty Sponsors How to sponsor Multimedia Research projects under way Researchers Only Stay in touch: feeds Glossary Contact Site Map Italian Site Search CAREFIN is a research structure created by Università Bocconi, Italy’s leading business and economics school. Located on-campus in Milan, it encompasses and enhances the activities of three former Bocconi research bodies, Newfin, Cerap and Pension Forum. CAREFIN has a strong commitment to delivering rigorous material that is both well-grounded in financial research and highly geared towards real-life applications. Leveraging ongoing dialog with the financial industry, professional associations, regulators and policy makers, the Centre uses advanced analytical tools to investigate the opportunities and threats posed by new financial products, markets and brokerage models. Latest news 02/09/2014 Call for paper - The development of securities markets. Trends, risks and policies Author: Carefin February 27, 2015 Università Bocconi Keynote Speech: Steven Maijoor, Chair, ESMA Highlights 18/11/2014 La stabilità finanziaria in Italia. Il rapporto 2014 della Banca d'Italia sulla stabilità finanziaria Durante il convegno è stato presentato il rapporto 2014 della Banca d'Italia sulla stabilità finanziaria. 05/11/2014 The Exchange Industry Evolution And The Impact Of Mifid II Author: M. Geranio This work aims to illustrate the strategies played by major world exchanges in recent years. Furthermore, it attempts to prospect the possible evolution of the exchange industry in the near future, as the implementation of new regulations will lead to new threats and opportunities for all types of trading venues active on all kinds of asset classes. 24/10/2014 Structural Changes in the Banking Sector This conference (organised by CAREFIN jontly with Intesa Sanpaolo) was the chance to discuss many of the most recent research papers in the areas of banking and banking regulation. The programme featured contributions by international scholars, selected by an independent advisory committee and covered topics such as: systemic risk, bank lending, financial markets, capital requirements and capital structure, financial regulation and risk management. 22/04/2014 Money Doctors Author: N. Gennaioli, A. Shleifer, R. Vishny We present a new model of investors delegating portfolio management to professionals based on trust. 22/04/2014 Bailouts And Moral Hazard: How Implicit Government Guarantees Affect Financial Stability Author: M. Mariathasan, O. Merrouche, C. Werger The recent crisis has shown that systemically relevant banks in distress are likely to benefit from governmental support. This reduces their downside risk and leads to moral hazard, i.e. to incentives for these banks to assume excessive risks. In this paper we show empirically that implicit guarantees lead to more leverage and to a lower quality of bank capital; furthermore, we investigate which institutional characteristics are associated with a reduction in moral hazard. Our analysis combines bank balance sheet information from 92 countries with Fitch Support Ratings and World Bank survey data on governance and regulation. 22/04/2014 Deleveraging and derisking strategies of European banks: business as usual? Author: S. Caselli, S. Gatti, F. Querci Using a multi-country panel of banks observed over the 2008-2012 period, we study the measures adopted by European banks to improve their capital ratios. 25/03/2014 Financing Innovation: Venture Capital as a Development Driver. A Public-Private Partnership Solution in collaboration with Action Institute 18/11/2013 Primo Convegno Annuale Osservatorio Partnership Pubblico Privato - MP3 L'Osservatorio sulle Partnership Pubblico Privato (Monitor on Public Private Partnership - MP3) dell'Università Bocconi ha l'obiettivo di generare e diffondere cultura e conoscenze sulle partnership pubblico e privato quale leva per supportare l'attrazione di capitali per lo sviluppo di imprese e investimenti. Copyright © 2008 - All rights reserved • Credits Print Newsletter Subscribe to our newsletter by simply entering your e-mail address and clicking on the arrow sign Registered Users • Registration • Forgot your password? Username: Password: