Its impact is therefore amplified by information asymmetry concerning the state of the borrower, or by the impossibility for firms of replacing bank loans with market instruments such as bond issues. A situation that is especially common in Italy, where small firms depending on bank credit are prevalent and where private capital markets are still less highly developed than in other large industrial countries.
Many of them still need to make a clear decision on what kind of structure they want to adopt and what kind of location they want to have for their operations. It’s not yet too late, but I think these kinds of decisions should be made pretty quickly because time is running out.