Asset Pricing, Real Estate and Public Finance over the Crisis

by Mattarocci, Gianluca; Carretta, Alessandro

• ISBN13: 9781137293763
• ISBN10: 1137293764
• Format: Hardcover
• Copyright: 2013-03-29
• Publisher: Palgrave Macmillan

Summary

During the crisis the asset management is affected by a lack of investors' confidence and an increase of risk exposure for all financial instruments traded and investor need more efficient solution for constructing and managing their investment portfolio.
The real estate market was the source of the financial crisis development and the main limits of the market could be ascribed to the low quality of the information available, the investment strategies adopted by the managers and the mistakes done in evaluating the risk exposure.


Due to the crisis, financial resources available for the public sector are lower and Public entities have to develop new instruments for collecting financial resources and to take care about the market reaction to their investment and expenditure policies.
The book provides an original analysis of the effect of the crisis in the three sectors and points out the new instruments or approaches proposed in order to avoid the development of a new crisis.

Author Biography

Alessandro Carretta is Professor of Financial Markets and Institutions at the University of Rome Tor Vergata, Italy. He is President of the Italian Academy of Management and Director of the PhD in Management at the University of Rome Tor Vergata. He has been teaching Banking and Finance for more than 25 years, formerly at the Universities of Urbino, Lecce, and Milan Bocconi.

Gianluca Mattarocci is Lecturer in Financial Markets and Institutions at the University of Rome Tor Vergata, Italy. He holds a Masters in Asset Management and a PhD in Banking and Finance. He teaches corporate finance and is faculty member of the PhD in Management at the University of Rome Tor Vergata.

Table of Contents

PART I: ASSET PRICING DURING THE CRISIS
1. Does Investor Attention Influence Stock Market Activity? The Case of Spin-Off Deals; A.Carretta, V.Farina, E.A.Graziano & M.Reale
2. The Effects of Derivatives Trading on Stock Market Volatility and Market Efficiency. Some Evidence from European Markets; G.Liccardo
3. How Much Globalization is there in the World Stock Markets and where is it?; G.Nicolini & E.Dorodnykh
4. Financial Analyst Recommendation Driven Funds: a Risk Adjusted Measure Analysis; G.Galloppo
5. Alternative Neural Network Approaches for Enhancing Stock Picking using Earnings Forecasts; G.Galloppo & M.Aliano
6. Market Timing with the Black-Litterman Model; U.Pomante
7. Performance and Governance in Investment Management Companies; M.C.Arcuri
PART II: REAL ESTATE INVESTMENT VEHICLES AND MARKETS DURING THE CRISIS
8. The Quality of Real Estate Data: the Italian Case; F.Battaglia, C.Porzio & G.Sampagnaro
9. Real Estate Trends and Portfolio Rebalancing: Evidence from Main European Markets; G.Mattarocci & G.Siligardos
10. The Choice of the Risk Measure in Selecting Real Estate Funds: Evidence from the Italian Market; C.Giannotti & G.Mattarocci
PART III: PUBLIC SECTOR ISSUES IN A CRISIS SCENARIO
11. Economic and Financial Determinants of Italian Local Government Ratings: an Empirical Analysis; A.V.Venneri
12. Evolution of the Finance Function in the Italian Local Public Bodies; F.Quarta & P.Stefanizzi
13. Project Finance Exposures in the Supervisory Slotting Criteria Approach: Pricing and Judgmental Analysis; P.Marchetti & A.V.Venneri