Search

This paper looks at the effects of International Monetary Fund (IMF) lending programs on banking crises in a large sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting an instrumental variable strategy and a propensity score matching estimator. Controlling for the standard determinants of banking crises, the results indicate that countries participating in IMF-supported lending programs are significantly less likely to experience a future banking crisis than nonborrowing countries. The paper also provides evidence suggesting that compliance with conditionality and loan size matter, corroborating the importance of IMF-supported reform and liquidity provision for banking sector stability. [JEL F33, F34, F35, Oil] IMF Economic Review (2015) 63, 644-691. doi: 10.1057/imfer.2015.16; published online 20 October 2015, In this paper we look at the effects of International Monetary Fund (IMF) lending programs on the risk of banking crisis in borrowing countries and at the channels of influence [...]

I. INTRODUCTION The purpose of this paper is to provide a measure of technical and scale efficiency in the Italian banking industry. In recent years, changes in laws and regulations, [...]

Purpose: This paper investigates the role of boundary objects and boundary work in the integration of risk management (RM) and performance management (PM) systems. In particular, the paper combines theoretical insights with an empirical focus to examine how shared contexts are created through the boundary work performed by key actors across knowledge boundaries. Design/methodology/approach: The paper develops an exploratory qualitative case study from a local government context. The methodology is based on document analysis and semi-structured interviews. Findings: Boundary objects can act as knowledge integration mechanisms, allowing key actors to understand the meanings and uses of RM and PM practices. The paper shows how collaborative versus competitive boundary work exerted by key actors can explain the creation of shared contexts leading to integration between RM and PM. Originality/value: The results contribute to the debate about the integration of RM with other managerial systems. Differently from previous research, the integration theme is addressed in the present work by looking specifically to the integration between RM and PM. In doing so, the role of both boundary objects and the boundary work performed by relevant actors to demarcate their legitimacy and autonomy over preferred practices is portrayed.

We examine how banking supervisors affect credit at the local level by charging fines to individual banks. Using a macro approach to capture the direct effect on the fined bank and the indirect effect on the other banks operating in the local credit market, we estimate reputational, reallocation and balance sheet effects on Italian provinces over the period 2005–2016 by a fixed effects model and instrumental variables. Provincial gross bank loans expand after a fine independently of its size. The impact of fine frequency depends on the size of the provincial banking sector, but neither on bank governance/ownership nor crises. No statistically significant evidence supports reputational or balance sheet effects. Instead, our results suggest that it would behoove bank supervisors to favor frequency over size of bank fines. Bank fines seem to work more like a good housekeeping seal of approval, enhancing transparency and effective banking practices.

Purpose: The purpose of this paper is to investigate the role and impact of accounting within the fragmented field of public value theory literature. Design/methodology/approach: The work develops a structured literature review (SLR) and seeks to shed light on the state of public value research, with particular emphasis on the role of accounting scholarship. Findings: The lack of empirical research and the limited number of accounting papers reveal how accounting scholars need to achieve a deeper understanding of the public value conceptualization, creation and measurement process. Originality/value: The paper develops the first wide-ranging SLR on public value accounting. It is a starting point to develop new research avenues, both in the fields of accountability/external reporting, and management accounting and performance management.

The paper examines the determinants of over-education among Italian Ph.D graduates drawn from the four cohorts 2004, 2006, 2008, 2010 surveyed by the Italian National Institute of Statistics (ISTAT). We study over-education through the definitions of over-skilling, over-qualification and a combination of the two phenomena (genuine over-education). The analysis spans the years 2004–2014 allowing us to investigate job education mismatch before and during the severe economic crisis. The results show that socio-demographic variables do not exert a relevant influence on Ph.D graduates’ over-education contradicting what the empirical literature has found for college graduates. More than socio-demographic variables, those variables related to the doctoral educational path turn out to be positively strategic for the outcome in the labor market. In particular, an experience abroad is always a positive driver to overcome any kind of job mismatch. Similarly, job related characteristics are also relevant determinants of over-education with jobs within the academia or the research sector more often associated with successful labor matching. Conversely, accessing jobs via informal channels or working as self-employed increases the risk of over-education. The investigation of the effect of the recent economic crisis emphasizes how the recession makes the labor market more selective with Ph.D and job-related variables, worsening the risk of incurring in job-education mismatch. Finally, we discuss some policy implications in the light of the empirical findings of our analysis.