Extra Profits in the Healthcare Factoring Industry: Evidence from Panel Data Analysis

Carlo Migliardo and Antonio Forgione ()
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Antonio Forgione: University of Messina - Department of Economics (SEAM)

Economics Bulletin, 2015, vol. 35, issue 1, 322-337

Abstract: This paper aims at investigating the presence of extra profits for the factoring companies operating with health sector credits. Using a panel data sample representative of Italian factoring companies, the analysis also examines, along with other factors, the determinants of corporate financial performance relating to capital structures and management. Among the main results, it was shown that these Italian intermediaries act within a context which is a far from being a perfectly competitive market structure. Finally, it was found that financial structure, productivity index, and risk components have a significant impact on corporate profitability.

Keywords: Factoring Industry; Profitability; Extra profits; Capital Structure; National Health Service receivables; Dynamic Panel System GMM. (search for similar items in EconPapers)
JEL-codes: D4 I1 (search for similar items in EconPapers)
Date: 2015-03-11
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