Le caratteristiche bancarie che influiscono sull’accesso al credito delle imprese con rating di legalità (The banking characteristics influencing the access to firms' credit with legality ratings)

  • Vincenzo Formisano
  • Maria Fedele
  • Filomena Pietrovito
Keywords: legality rating; intangible assets; banking lending; banking characteristics


Purpose of the paper: The aim of this paper is to identify bank’s characteristics that have an impact on credit supply to firms that have obtained the legality rating.

Methodology: The methodological framework includes statistical and econometric approaches, such as principal component analysis, OLS and Tobit models.

Findings: The analysis shows that an improvement of bank’s performance, expressed in terms of net income and cash flows, ensures an increase in the share of loans granted by banks to firms with legality ratings, on total credit demanded by the same firms. Being part of a banking group has a positive effect on the same share of credit, contrary to what happens for cooperative or popular banks.

Research limits: The main limitations of the research are attributale to: the size of the sample analysed, associated to the reduced number of bank’s characteristics included in the analysis; the lack of credit demand’s characteristics; the limited number of years, because the regulation regarding the observed phenomenon was introduced in 2014.

Practical implications: The study shows that an increased focus by banks on intangible assets of firms is influenced by their performance and their structural characteristics.

Originality of the paper: The existing management literature suffers from a lack of a line of research on the legality rating. In this context, the innovative aspect of this study consists in providing many ideas to be developed in future researches.


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Siti internet


http://www.aodv231.it/images/atti/1917-10CASADEI_Presupposti%20e%20risultati%20del%20Rating%20di%20Legalita&%23768%3B%20per%20le%20imprese.pdf (Casadei, 2015)

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