In this paper we test the so-called 'quiet life' hypothesis (QLH), according to which firms with market power are less efficient. Using data on the Italian banking industry for the period 1992-2007, we apply a two-step procedure. First we estimate bank-level cost efficiency scores and Lerner indices. Then we use the estimated market power measures, as well as a vector of control variables, to explain cost efficiency. Our empirical evidence supports the QLH, although the impact of market power on efficiency is not particularly remarkable in magnitude.(J.E.L.: D40, G21, L10).
This paper examines the profile of tourists holidaying in one of the most visited areas of Southern Italy. The primary aim is to identify the characteristics of those tourists who choose the area without having had any previous linkage with it, come from far away and intend to visit the destination again in the future. For this purpose, several variables are used to estimate three different specifications of a binomial logit model. The results reveal a number of factors which may be crucial in guiding the choices of private entrepreneurs and local administrators, and hence in expanding tourism flows to the region under examination.
The aim of this paper is to explore the main determinants of credit card ownership by analyzing the variables that may affect the decision to hold a credit card. Using the 2012 Survey on Household Income and Wealth provided by the Bank of Italy as main source, we estimated count data models in order to identify the socio-economic, demographic and territorial variables affecting the credit card accounts held by households. Our estimates give evidence of the significance of the considered factors. In particular, we find that geographical location is an important determinant of families behavior in line with the socio-economic gap between the North and the South of Italy. Other relevant variables acting on the number of credit cards held are age, income, municipality size, gender, education and marital status. The reached results are interesting in depicting the main characteristics of cardholders and in helping the implementation of a segment-specific marketing program in the banking services industry
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