Conference Paper
Winners or losers? the effects of bank consolidation on corporate borrowers?
Bonaccorsi di Patti, Emilia; Gobbi, Giorgio (2003)
Proceedings , Paper 855

Working Paper
Capital structure and firm performance: a new approach to testing agency theory and an application to the banking industry
Berger, Allen N.; Bonaccorsi di Patti, Emilia (2002)
Corporate governance theory predicts that leverage affects agency costs and thereby influences firm performance. We propose a new approach to test this theory using profit efficiency, or how close a firm's profits are to the benchmark of a best-practice firm facing the same exogenous conditions. We are also the first to employ a simultaneous-equations model that accounts for reverse causality from performance to capital structure. We also control for measures of ownership structure in the tests. We find that data on the U.S. banking industry are consistent with the theory, and the results are ...
Finance and Economics Discussion Series , Paper 2002-54

Conference Paper
Bank competition and firm creation
Bonaccorsi di Patti, Emilia; Dell'Ariccia, Giovanni (2000)
Proceedings , Paper 680