Bonds and investment securities for SMEs in Italy: news introduced by the Development Decree

Caputo, Andrea and Tron, Alberto (2015) Bonds and investment securities for SMEs in Italy: news introduced by the Development Decree. International Journal of Business and Globalisation, 14 (3). p. 340. ISSN 1753-3627

Full text not available from this repository.

Item Type:Article
Item Status:Live Archive


The Italian Law Decree of June 22, 2012, N. 83 (converted into law with amendments by Law of 7 August 2012, N. 134), the so-called Development Decree (or Decreto Sviluppo in Italian), with the introduction of Article 32 intervened in order to overcome the difficulties of access to credit for businesses, including small and medium-sized enterprises (SMEs), increasing the possibility of direct access to the capital markets through finance bills that now will have a duration of 36 months. The objective is to align the financial opportunities of the national system with those offered by the most advanced industrial and financial systems in Europe, but also to counter the introduction of Basel III which will lead to a rationing of credit to the economy. In addition to expanding the possibilities of exploiting such a financial instrument that is not yet widespread, the so-called Development Decree allows for issuance in 'paperless' form to promote the circulation and exchange between operators, and changes the tax regime by extending the one applied to bonds which is more favourable.

Keywords:small and medium-sized enterprises, SMEs, bonds, investment securities, Italy, Development Decree, Decreto Sviluppo, access to credit, capital markets, finance bills, tax changes., JCNotOpen
Subjects:M Law > M221 Business and Commercial Law
N Business and Administrative studies > N100 Business studies
N Business and Administrative studies > N340 Financial Management
Divisions:Lincoln International Business School
Related URLs:
ID Code:18578
Deposited On:10 Sep 2015 06:24

Repository Staff Only: item control page