New Drivers of Performance in a Changing World (eBook)

ALESSANDRO CARRETTA is full professor of Economics and Management of Financial Intermediaries and Director of Ph.D Program in Banking and Finance at the University of Rome 'Tor Vergata', Italy. He has been teaching Banking and Finance for more than 25 years, formerly at the Universities of Urbino, Lecce, Milan and Bocconi. His main research interest relates to banking management, focussing on banking groups and diversification; regulation and control; corporate governance, culture and organizational change in banks. He has widely published in this area more than 100 books and articles in academic journals. Prof. Carretta is member of committees and boards of several journals, research bodies and financial institutions.FRANCO FIORDELISI (MA, Ph.D) is professor in Banking and Finance at the University of Rome III, Italy and Visiting Research Fellow at the University of Essex, UK. His main research interest relates to the economics of banking focussing on efficiency, productivity, value creation and and M&A activities. His research has been published by several international academic journals. He recently published 'Shareholder Value in European Banking' (Palgrave 2007). He has acted as a consultant to many financial instututionsGIANLUCA MATTAROCCI (MA, Ph.D) is lecturer of Economics and Management of Financial Intermediaries at the Faculty of Economics of the University of Rome 'Tor Vergata', Italy. His main research interest relates to asset management, real estate, rating and corporate finance. He has acted as a consultant for banks and factoring companies.

Preface Acknowledgements Notes on the Contributors PART I: NEW FINANCIAL PRODUCTS AND APPROCHES: FOCUS ON PERFORMANCE European Exchanges, Investor Behaviour and Asset Allocation Criteria: Country vs Industry Approach; A.Carretta& G.Nicolini The Performance Evaluation of Hedge Funds: A Comparison of Different Approaches; A.Carretta& G.Mattarocci Real Estate Investments: The Case of Italian Market; C.Porzio& G.Sampagnaro Real Estate Selection and Portfolio Construction Model: Data Analysis from the Italian Market; C.Giannotti& G.Mattarocci Funds of Funds' Portfolio Composition and its Impact on the Performance: Evidence from the Italian Market; A.Carretta& G.Mattarocci Market Characteristics and Chaos Dynamics: An International Comparison; G.Mattarocci PART II: DETERMINANTS OF VALUE CREATION IN BANKING How do Banks Make Money for Their Owners?; F.Fiordelisi Do Mergers and Acquisition Lead to Shareholder Value in European Banking: A Short Term Perspective; M.Pallotta Does Corporate Culture Affect Shareholder Value? Evidence from European Banking; A.Carretta, V.Farina, F.Fiordelisi& P.Schwizer PART III: REGULATION AND CHANGE IN BANKS' AND CUSTOMERS' BEHAVIOUR Transparency Between Banks and their Customers. Information Needs and Public Intervention; M.Cratelli The Consumer's Financial Capability: A Regulatory's Perspective; G.Nicolini Corporate Disclosure Determinants: A Cross-country Investigation; V.Farina Single European Payments Area: Opportunities for Corporates and Consumers; L.Leonelli Coordination& Cooperation in Financial Regulation: Do Regulators Comply with Banking Culture?; A.Carretta, V.Farina& P.Schwizer