Michela Altieri

Luiss Guido Carli

Assistant Professor of Finance

viale Romania 32

Rome, ND RM 00197

Italy

SCHOLARLY PAPERS

9

DOWNLOADS

797

SSRN CITATIONS

0

CROSSREF CITATIONS

0

Scholarly Papers (9)

1.

Why Do Parent Companies Guarantee Their Subsidiaries’ Bonds? The Dark Side of Separate Legal Liability

INSEAD Working Paper No. 2016/72/FIN
Number of pages: 49 Posted: 10 Oct 2016 Last Revised: 22 Feb 2019
Michela Altieri, Alberto Manconi and Massimo Massa
Luiss Guido Carli, Bocconi University - Department of Finance and INSEAD - Finance
Downloads 287 (149,541)

Abstract:

Loading...

bond returns; bond guarantees; subsidiary firms; financial flexibility

2.

Agency Costs of Debt in Conglomerate Firms

Number of pages: 72 Posted: 04 Oct 2017 Last Revised: 16 May 2022
Michela Altieri
Luiss Guido Carli
Downloads 162 (253,945)

Abstract:

Loading...

Diversified Firms, Cost of Debt, Free Cash Flow, Subsidiary Debt, Internal Capital Markets, Bonds

3.

Quarterly Investment Spikes, Stock Returns and the Investment Factor

Number of pages: 42 Posted: 18 Oct 2021
Michela Altieri and Jan Schnitzler
Luiss Guido Carli and Grenoble Ecole de Management
Downloads 151 (268,901)

Abstract:

Loading...

investment-based asset pricing, capital expenditures, investment anomaly, agency costs

4.

Survival and Conglomerate Value

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 600/2019
Number of pages: 59 Posted: 04 Mar 2019 Last Revised: 06 Jul 2022
Michela Altieri and Giovanna Nicodano
Luiss Guido Carli and University of Turin - Department ESOMAS
Downloads 103 (355,911)

Abstract:

Loading...

survivorship bias, default, coinsurance, contagion, conglomerate discount

5.

Bank Resolution, Regulatory Arbitrage, and Systemic Risk

Number of pages: 53 Posted: 12 Apr 2022
Michela Altieri and Deyan Radev
Luiss Guido Carli and Sofia University, Faculty of Economics and Business Administration
Downloads 36 (594,760)

Abstract:

Loading...

Regulatory arbitrage, Systemic risk, Bank Resolution, Internal capital markets

6.

Bondholders-Stockholders Conflicts and the Issuance of Subsidiary Debt

Number of pages: 50 Posted: 18 Apr 2022 Last Revised: 23 Jun 2022
Michela Altieri
Luiss Guido Carli
Downloads 27 (650,467)

Abstract:

Loading...

subsidiary debt, bonds returns, shareholders wealth, repurchases

7.

Debt Boundaries Matter: Does Subsidiary Debt Expropriate Wealth from the Bondholders?

Number of pages: 51 Posted: 12 Jun 2019 Last Revised: 09 Aug 2022
Michela Altieri
Luiss Guido Carli
Downloads 14 (753,449)

Abstract:

Loading...

subsidiary debt, wealth transfers, stock repurchases, bond returns.

8.

Business Groups: Are They More Efficient than Conglomerates and Stand-Alone Units?

Number of pages: 28 Posted: 02 Oct 2015 Last Revised: 24 Nov 2020
Michela Altieri and Giovanna Nicodano
Luiss Guido Carli and University of Turin - Department ESOMAS
Downloads 10 (791,133)

Abstract:

Loading...

corporate limited liability, rescue, contagion, diversification discount, survivorship bias, parent company discount

9.

The Cost of Debt of Corporations: Does Subsidiary Debt Matter?

Number of pages: 45 Posted: 01 Oct 2015 Last Revised: 29 Mar 2022
Michela Altieri
Luiss Guido Carli
Downloads 7 (821,372)

Abstract:

Loading...

yield spreads, corporate debt, implicit guarantee, Conglomerates.