The Performance of Some Privatized Italian Banks

Fabio Farabullini () and Donald D. Hester ()
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Fabio Farabullini: Banca d'Italia
Donald D. Hester: University of Wisconsin-Madison

Rivista di Politica Economica, 2005, vol. 95, issue 4, 235-272

Abstract: This paper examines changes in the organization structure and profitability of a group of six privatized large Italian banks. After privatization, there was a high rate of turnover of managers. Relative to other Italian banks, a variety of measures of profitability rose rapidly after privatization; in some cases, the realization of losses from bad loans made a large contribution to subsequent profitability. Regression analysis showed that there was a significant effect of privatization on profits; privatization coincided with a higher rate of growth of fee income. The indications are that privatization is leading to an improved operating performance.

JEL-codes: G21 L33 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (2)

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