The Italian Minibonds Experience in Triveneto

Nicola Carta () and Caterina Cruciani ()
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Nicola Carta: Ca’ Foscari University of Venice
Caterina Cruciani: Ca’ Foscari University of Venice

Chapter Chapter 10 in Banking and Beyond, 2020, pp 215-236 from Palgrave Macmillan

Abstract: Abstract This paper focuses on a relatively new form of corporate debt financing available to Italian SMEs called “minibonds”. Minibonds may be described as fixed-income securities with a medium–long term expiration date, issued by listed or non-listed SMEs aimed at supporting growth projects, future developments or refinancing operations. This paper focuses on the North-East area of Italy and looks at the difference between listed and non-listed issues of minibonds. This paper explores whether this choice is structurally determined and how recent normative developments may affect it and the overall demand for minibonds by investors. Moreover, we explore the literature trying to identify criteria for the determination of potential emitters and show that existing criteria likely underestimate the true potential supply and are largely ignored by firms.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-030-45752-5_10

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DOI: 10.1007/978-3-030-45752-5_10

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