Manuscript type Empirical Research question/issue The state of non-performing loans (NPLs) poses ... more Manuscript type Empirical Research question/issue The state of non-performing loans (NPLs) poses serious threat to the European financial market and this has increased pressure on board of directors to intensify their monitoring functions to safeguard shareholder assets. Yet there is a dearth of research that complement board characteristics with managerial incentives to address NPLs. We examine 102 banks from 22 European countries to ascertain how board characteristics and insider ownership affect NPLs. Research findings/insight We find that whilst gender diversity, board size and insider ownership have negative relation with NPLs, average board age and board tenure show positive relation. The inclusion of insider ownership improves the significance of board characteristics therefore confirming a complementary instead of substitutable approaches in addressing NPLs. We report significant differences in the intrinsic board characteristics of diversified and non-diversified banks. The...
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the l... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
International Journal of Financial Innovation in Banking
In the course of the 2013 Islamic World Forum held in London, the former British Prime Minister D... more In the course of the 2013 Islamic World Forum held in London, the former British Prime Minister David Cameron announced, before an audience of 1800 politicians and businessmen from 115 countries around the world, his government's plans for structuring the first European large sovereign sukuk [Arabic الصكوك]. This announcement was followed, in July 2014, by the first major issuance of sovereign sukuk by a European country. This study analyses the traits of sukuk - Islamic equity certificates - and contains reflections on the state of the European market and on the opportunities that sukuk issues may offer for financing large infrastructure projects or public debt and for multiplying the number of investors desirous of holding public debt issued by European countries in hard currencies.
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the Islamic asset management and in particular on asset class equity highlighting the main element of the investment process as well as challenges that the industry is facing to reach a more mature stage of development. We will also consider an indices style analysis to highlight effects of the Islamic principles on the portfolio allocation process.
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
Manuscript type Empirical Research question/issue The state of non-performing loans (NPLs) poses ... more Manuscript type Empirical Research question/issue The state of non-performing loans (NPLs) poses serious threat to the European financial market and this has increased pressure on board of directors to intensify their monitoring functions to safeguard shareholder assets. Yet there is a dearth of research that complement board characteristics with managerial incentives to address NPLs. We examine 102 banks from 22 European countries to ascertain how board characteristics and insider ownership affect NPLs. Research findings/insight We find that whilst gender diversity, board size and insider ownership have negative relation with NPLs, average board age and board tenure show positive relation. The inclusion of insider ownership improves the significance of board characteristics therefore confirming a complementary instead of substitutable approaches in addressing NPLs. We report significant differences in the intrinsic board characteristics of diversified and non-diversified banks. The...
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the l... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
International Journal of Financial Innovation in Banking
In the course of the 2013 Islamic World Forum held in London, the former British Prime Minister D... more In the course of the 2013 Islamic World Forum held in London, the former British Prime Minister David Cameron announced, before an audience of 1800 politicians and businessmen from 115 countries around the world, his government's plans for structuring the first European large sovereign sukuk [Arabic الصكوك]. This announcement was followed, in July 2014, by the first major issuance of sovereign sukuk by a European country. This study analyses the traits of sukuk - Islamic equity certificates - and contains reflections on the state of the European market and on the opportunities that sukuk issues may offer for financing large infrastructure projects or public debt and for multiplying the number of investors desirous of holding public debt issued by European countries in hard currencies.
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the Islamic asset management and in particular on asset class equity highlighting the main element of the investment process as well as challenges that the industry is facing to reach a more mature stage of development. We will also consider an indices style analysis to highlight effects of the Islamic principles on the portfolio allocation process.
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last ... more Islamic Finance, which is based on the Shari'ah Law, has seen a growing interest in the last few years. This phenomenon is attributable not only to the demographic trends within Muslin countries but also to the wealth accumulated by HNWI and the growing demand to manage it in compliance with religious rules. In this article we will focus on the
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Papers by Federica Miglietta