PABLO DE ANDRES ALONSO Universidad de Valladolid, SpainFRANCESCA ARNABOLDI Università di Milano, ItalyELENA BECCALLI Università Cattolica S. Cuore , ItalyMARCELLO BIANCHI Consob, ItalyPAOLA BRIGHI Università di Bologna, ItalyFATIMA CARDIAS WILLIAMS Bangor University, UKALESSANDRO CARRETTA Università di Roma 'Tor Vergata', ItalyDIMITRIS CHRONOPOULOS University of Essex, UKANGELA CIAVARELLA Consob, ItalyMARTA DE LA CUESTA Universidad Nacional de Educación a Distancia, UNED, SpainVINCENZO FARINA Università di Roma 'Tor Vergata', ItalyJOSANCO FLOREANI University of Udine, ItalyPASCAL FRANTZ London School of Economics and Political Science, UKGIMEDE GIGANTE Università di Roma III, ItalyCLAUDIA GIRARDONE University of Essex, UKREBECA DE JUAN Universidad Nacional de Educación a Distancia, UNED, Spain KARLIGASH KENJEGALIEVA Loughborough University, UKDUCCIO MARTELLI Università di Roma 'Tor vergata', ItalyEWA MIKLASZEWSKA Uniwersytet Ekonomiczny w Krakowie, PolandKATARZYNA MIKOLAJCZYK Uniwersytet Ekonomiczny w Krakowie, PolandJOHN C. NANKERVIS University of Essex, UKVALERIO NOVEMBRE Consob, ItalyMAURIZIO POLATO University of Udine, ItalyNEMANJA RADIC Università di Roma 'Tor vergata', ItalyGEETHA RAVISHJANKAR Loughborough University, UKELENA ROMERO MERINO Universidad Europea Miguel de Cervantes, SpainBRUNO ROSSIGNOLI Università di Milano and Università di Modena e Reggio Emilia, Centro Studi di Banca e Finanza ,ItalyCRISTINA RUZA Universidad Nacional de Educación a Distancia, UNED, SpainMARCOS SANTAMARÍA MARISCAL Universidad de Burgos, SpainPAOLA SCHWIZER Università di Parma, ItalyROSSELLA SIGNORETTI Consob, ItalyGIUSEPPE TORLUCCIO Università di Bologna, ItalyELEUTERIO VALLELADO Universidad de Valladolid, SpainTHOMAS WEYMAN JONES Loughborough University, UKJON WILLIAMS Bangor University, UK

• PART I: BANK MANAGEMENT, INNOVATION AND TECHNOLOGY Financial Innovation: Theoretical Issues and Empirical Evidence in Italy and in the U.K.; F.Arnaboldi & B.Rossignoli A New Appraisal of the Structure of European Banking Systems; C.Ruza, R.de Juan & M.Cuesta Intellectual Capital and Banking's Performance in the Italian Banking; G.Gigante & D.Previati Traditional and R&D Investments: Are They Really Different?; P.Brighi & G.Torluccio PART II: EFFICIENCY AND PRODUCTIVITY OF FINANCIAL INTERMEDIARIES Modelling Risk in Efficiency and Productivity Analysis of Banking Systems; T.Weyman Jones, K.Kenjegalieva & G.Ravishjankar Cross Country Comparison of Efficiency in Investment Banking; F.Fiordelisi, C.Girardone & N.Radic Are Cost and Profit Efficiencies Arising from Bank M&As Priced in the Stock Markets?; D.Chronopoulos, C.Girardone & J.Nankervis PART III: CONSOLIDATION IN THE FINANCIAL SECTOR The Impact of Corporate Culture, Efficiency and Geographic Distance on M&A Results: the European Case; F.Fiordelisi & D.Martelli What Does Bank Financial Profile Tell us about Mergers and Acquisitions in Latin American Banking?; J.Williams & F.Williams The Determinants of M&A Operations in Banking; E.Beccalli & P.Frantz PART IV: CORPORATE GOVERNANCE ISSUES Comply or Explain - Rule or Exception - An Assessment of Compliance with the Corporate Governance Code for Italian Listed Companies; M.Bianchi, R.Signoretti, A.Ciavarella & V.Novembre Sources of Risk and Return in Different Bank Business Models - Comparing Poland with the Global Trends; E.Miklaszewska & K.Mikolajczyk Strategic Frames in the Banking Industry - Does Board Composition Matter?; V.Farina, A.Carretta & P.Schwizer In Search of an Optimal Board of Directors for Commercial Banks; M.Maribal, P.Alonso, E.Merino & E.Vallelado Value and Governance in the Exchange Industry: the Case of Diversified Conglomeral Exchanges; M.Polato & J.Floreani

PABLO DE ANDRES ALONSO Universidad de Valladolid, SpainFRANCESCA ARNABOLDI Università di Milano, ItalyELENA BECCALLI Università Cattolica S. Cuore , ItalyMARCELLO BIANCHI Consob, ItalyPAOLA BRIGHI Università di Bologna, ItalyFATIMA CARDIAS WILLIAMS Bangor University, UKALESSANDRO CARRETTA Università di Roma 'Tor Vergata', ItalyDIMITRIS CHRONOPOULOS University of Essex, UKANGELA CIAVARELLA Consob, ItalyMARTA DE LA CUESTA Universidad Nacional de Educación a Distancia, UNED, SpainVINCENZO FARINA Università di Roma 'Tor Vergata', ItalyJOSANCO FLOREANI University of Udine, ItalyPASCAL FRANTZ London School of Economics and Political Science, UKGIMEDE GIGANTE Università di Roma III, ItalyCLAUDIA GIRARDONE University of Essex, UKREBECA DE JUAN Universidad Nacional de Educación a Distancia, UNED, Spain KARLIGASH KENJEGALIEVA Loughborough University, UKDUCCIO MARTELLI Università di Roma 'Tor vergata', ItalyEWA MIKLASZEWSKA Uniwersytet Ekonomiczny w Krakowie, PolandKATARZYNA MIKOLAJCZYK Uniwersytet Ekonomiczny w Krakowie, PolandJOHN C. NANKERVIS University of Essex, UKVALERIO NOVEMBRE Consob, ItalyMAURIZIO POLATO University of Udine, ItalyNEMANJA RADIC Università di Roma 'Tor vergata', ItalyGEETHA RAVISHJANKAR Loughborough University, UKELENA ROMERO MERINO Universidad Europea Miguel de Cervantes, SpainBRUNO ROSSIGNOLI Università di Milano and Università di Modena e Reggio Emilia, Centro Studi di Banca e Finanza ,ItalyCRISTINA RUZA Universidad Nacional de Educación a Distancia, UNED, SpainMARCOS SANTAMARÍA MARISCAL Universidad de Burgos, SpainPAOLA SCHWIZER Università di Parma, ItalyROSSELLA SIGNORETTI Consob, ItalyGIUSEPPE TORLUCCIO Università di Bologna, ItalyELEUTERIO VALLELADO Universidad de Valladolid, SpainTHOMAS WEYMAN JONES Loughborough University, UKJON WILLIAMS Bangor University, UK

• PART I: BANK MANAGEMENT, INNOVATION AND TECHNOLOGY Financial Innovation: Theoretical Issues and Empirical Evidence in Italy and in the U.K.; F.Arnaboldi & B.Rossignoli A New Appraisal of the Structure of European Banking Systems; C.Ruza, R.de Juan & M.Cuesta Intellectual Capital and Banking's Performance in the Italian Banking; G.Gigante & D.Previati Traditional and R&D Investments: Are They Really Different?; P.Brighi & G.Torluccio PART II: EFFICIENCY AND PRODUCTIVITY OF FINANCIAL INTERMEDIARIES Modelling Risk in Efficiency and Productivity Analysis of Banking Systems; T.Weyman Jones, K.Kenjegalieva & G.Ravishjankar Cross Country Comparison of Efficiency in Investment Banking; F.Fiordelisi, C.Girardone & N.Radic Are Cost and Profit Efficiencies Arising from Bank M&As Priced in the Stock Markets?; D.Chronopoulos, C.Girardone & J.Nankervis PART III: CONSOLIDATION IN THE FINANCIAL SECTOR The Impact of Corporate Culture, Efficiency and Geographic Distance on M&A Results: the European Case; F.Fiordelisi & D.Martelli What Does Bank Financial Profile Tell us about Mergers and Acquisitions in Latin American Banking?; J.Williams & F.Williams The Determinants of M&A Operations in Banking; E.Beccalli & P.Frantz PART IV: CORPORATE GOVERNANCE ISSUES Comply or Explain - Rule or Exception - An Assessment of Compliance with the Corporate Governance Code for Italian Listed Companies; M.Bianchi, R.Signoretti, A.Ciavarella & V.Novembre Sources of Risk and Return in Different Bank Business Models - Comparing Poland with the Global Trends; E.Miklaszewska & K.Mikolajczyk Strategic Frames in the Banking Industry - Does Board Composition Matter?; V.Farina, A.Carretta & P.Schwizer In Search of an Optimal Board of Directors for Commercial Banks; M.Maribal, P.Alonso, E.Merino & E.Vallelado Value and Governance in the Exchange Industry: the Case of Diversified Conglomeral Exchanges; M.Polato & J.Floreani