Marco Pagano

Einaudi Institute for Economics and Finance (EIEF)

President

Via Sallustiana, 62

Rome, 00187

Italy

Research Institute of Industrial Economics (IFN)

Affiliated Researcher

Box 55665

Grevgatan 34, 2nd floor

Stockholm, SE-102 15

Sweden

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

European Corporate Governance Institute (ECGI)

Fellow

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

http:/www.ecgi.org

CSEF - University of Naples Federico II - Centre for Studies in Economics and Finance (CSEF)

Director

Via Cintia

Complesso Monte S. Angelo

Naples, Naples 80126

Italy

SCHOLARLY PAPERS

92

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Top 953

in Total Papers Downloads

43,921

SSRN CITATIONS
Rank 213

SSRN RANKINGS

Top 213

in Total Papers Citations

2,111

CROSSREF CITATIONS

2,232

Scholarly Papers (92)

1.
Downloads 2,633 ( 8,784)
Citation 96

Managers, Workers, and Corporate Control

Number of pages: 40 Posted: 11 Apr 2003
Paolo F. Volpin and Marco Pagano
Drexel University - Bennett S. LeBow College of Business and Einaudi Institute for Economics and Finance (EIEF)
Downloads 2,609 (8,761)
Citation 28

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private benefits, employment protection, takeovers, ESOPs

Managers, Workers and Corporate Control

Number of pages: 38 Posted: 07 Jan 2003
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 24 (844,510)
Citation 42
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Corporate control, private benefits, takeovers, ESOPs, employment protection

2.

Pandemic Crisis and Financial Stability

European Banking Institute Working Paper Series Forthcoming
Number of pages: 481 Posted: 22 May 2020
National and Kapodistrian University of Athens, University of Hamburg - Institute of Law & Economics, Radboud University Nijmegen - Institute for Financial Law (IFR), Ghent University - Financial Law Institute, Trinity College Dublin - School of Law, University of Vienna, London School of Economics & Political Science (LSE), University of Bologna - Department of Business Law, Universidad Carlos III de Madrid, University of Lisbon - School of Law. Jean Monnet Chair – Economic Regulation in the EU, Bocconi University - Department of Law, University of Genoa - Law Department, Leiden University, University Rome III, Department of Law, University of Oxford Faculty of Law, Einaudi Institute for Economics and Finance (EIEF), Università Cattolica and Università Cattolica del Sacro Cuore
Downloads 2,630 (8,800)
Citation 1

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Short-Selling Bans Around the World: Evidence from the 2007-09 Crisis

Journal of Finance, Forthcoming
Number of pages: 64 Posted: 10 Nov 2009 Last Revised: 22 Aug 2011
Alessandro Beber and Marco Pagano
Cass Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 2,566 (8,983)
Citation 3

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Short-Selling Bans Around the World: Evidence from the 2007-09 Crisis

CEPR Discussion Paper No. DP7557
Number of pages: 41 Posted: 11 Jan 2010
Alessandro Beber and Marco Pagano
Cass Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 10 (984,820)
Citation 45
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ban, crisis, liquidity, price discovery, short selling

4.
Downloads 2,035 (13,256)
Citation 8

Corporate Fraud, Governance and Auditing

EFA 2009 Bergen Meetings Paper
Number of pages: 40 Posted: 05 Feb 2009 Last Revised: 02 Mar 2009
Giovanni Immordino and Marco Pagano
CSEF - University of Naples Federico II and Einaudi Institute for Economics and Finance (EIEF)
Downloads 2,028 (13,075)
Citation 3

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accounting fraud, auditing, managerial compensation, corporate governance, regulation

Corporate Fraud, Governance and Auditing

CEPR Discussion Paper No. DP7104
Number of pages: 43 Posted: 18 Feb 2009
Giovanni Immordino and Marco Pagano
CSEF - University of Naples Federico II and Einaudi Institute for Economics and Finance (EIEF)
Downloads 7 (1,014,522)
Citation 2
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accounting fraud, auditing, corporate governance, managerial compensation, regulation

5.

Legal Determinants of the Return on Equity

Number of pages: 51 Posted: 29 Feb 2000
Davide Lombardo and Marco Pagano
European University Institute and Einaudi Institute for Economics and Finance (EIEF)
Downloads 1,889 (14,920)
Citation 56

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Law, enforcement, shareholder protection, corporate governance, return on equity

The Political Economy of Corporate Governance

Number of pages: 35 Posted: 15 Mar 2000
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 1,849 (15,167)
Citation 104

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The Political Economy of Corporate Governance

American Economic Review, Vol. 95, No. 4, September 2005
Posted: 29 Mar 2006
Paolo F. Volpin and Marco Pagano
Drexel University - Bennett S. LeBow College of Business and Einaudi Institute for Economics and Finance (EIEF)

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7.

The Geography of Equity Listing: Why Do European Companies List Abroad?

Number of pages: 59 Posted: 24 Mar 2000
Marco Pagano, Ailsa Röell and Josef Zechner
Einaudi Institute for Economics and Finance (EIEF), Columbia University, School of International and Public Affairs and Vienna University of Economics and Business
Downloads 1,451 (22,426)
Citation 42

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8.
Downloads 1,421 (23,140)
Citation 34

Disaster Resilience and Asset Prices

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 105 Posted: 19 May 2020 Last Revised: 12 Sep 2023
Marco Pagano, Christian Wagner and Josef Zechner
Einaudi Institute for Economics and Finance (EIEF), WU Vienna University of Economics and Business and Vienna University of Economics and Business
Downloads 1,234 (28,016)
Citation 66

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asset pricing, rare disasters, social distance, resilience, pandemics

Disaster Resilience and Asset Prices

Center for Financial Studies Working Paper No. 673, 2021
Number of pages: 85 Posted: 05 Feb 2022
Marco Pagano, Christian Wagner and Josef Zechner
Einaudi Institute for Economics and Finance (EIEF), WU Vienna University of Economics and Business and Vienna University of Economics and Business
Downloads 187 (268,958)
Citation 9

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asset pricing, rare disasters, social distance, resilience, pandemics

Disaster Resilience and Asset Prices

CEPR Discussion Paper No. DP14773
Number of pages: 43 Posted: 28 May 2020
Marco Pagano, Christian Wagner and Josef Zechner
Einaudi Institute for Economics and Finance (EIEF), WU Vienna University of Economics and Business and Vienna University of Economics and Business
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Asset Pricing, Pandemics, Rare Disasters, resilience, social distance

9.

Law and Equity Markets: A Simple Model

Number of pages: 28 Posted: 29 Feb 2000
Davide Lombardo and Marco Pagano
European University Institute and Einaudi Institute for Economics and Finance (EIEF)
Downloads 1,289 (26,635)
Citation 36

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10.

Financial Stability Amidst the Pandemic Crisis: On Top of the Wave

Number of pages: 621 Posted: 20 Jul 2021
National and Kapodistrian University of Athens, University of Hamburg - Institute of Law & Economics, Bocconi University - Department of Law, University of Edinburgh - School of Law, HEC MontrealHEC Montreal, University of Luxembourg, Universidad Carlos III de Madrid, University Rome III, Department of Law, Radboud University Nijmegen - Institute for Financial Law (IFR), City University London - The Business School, Trinity College Dublin - School of Law, University of Oxford Faculty of Law, LUMSA University, Università Cattolica del Sacro Cuore, Centre for European Policy Studies (CEPS), Radboud University Nijmegen, Goethe University Frankfurt - Faculty of Economics and Business Administration, Leiden University, University of Bologna - Department of Business Law, University of Vienna, University of Lisbon - School of Law. Jean Monnet Chair – Economic Regulation in the EU, Universidad Carlos III de Madrid, Einaudi Institute for Economics and Finance (EIEF), Universidad Complutense de Madrid (UCM), Università Cattolica, Court of Justice of the European Union, University of Genoa - Law Department, Leibniz Institute for Financial Research SAFE and University of Geneva - Graduate Institute of International Studies (HEI)
Downloads 1,207 (29,386)

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COVID-19, banking regulation, financial stability, European Union

11.
Downloads 1,173 (30,679)
Citation 69

Local Crowding Out in China

Journal of Finance, Forthcoming
Number of pages: 104 Posted: 11 Aug 2016 Last Revised: 27 Oct 2019
Yi Huang, Marco Pagano and Ugo Panizza
Graduate Institute of International and CEPR, Einaudi Institute for Economics and Finance (EIEF) and Graduate Institute of International and Development Studies (IHEID) - Department of Economics
Downloads 939 (41,387)
Citation 20

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investment, local public debt, crowding out, credit constraints, China

Local Crowding Out in China

CFS Working Paper, No. 632, 2019
Number of pages: 87 Posted: 08 Nov 2019
Yi Huang, Marco Pagano and Ugo Panizza
Graduate Institute of International and CEPR, Einaudi Institute for Economics and Finance (EIEF) and Graduate Institute of International and Development Studies (IHEID) - Department of Economics
Downloads 233 (217,873)
Citation 29

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investment, local public debt, crowding out, credit constraints, China

Local Crowding Out in China

CEPR Discussion Paper No. DP11489
Number of pages: 107 Posted: 06 Sep 2016 Last Revised: 31 Oct 2019
Yi Huang, Marco Pagano and Ugo Panizza
Graduate Institute of International and CEPR, Einaudi Institute for Economics and Finance (EIEF) and Graduate Institute of International and Development Studies (IHEID) - Department of Economics
Downloads 1 (1,066,423)
Citation 4
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China, credit constraints, Crowding out, investment, Local public debt

Shareholder Protection, Stock Market Development, and Politics

ECGI - Finance Working Paper No. 105/2005
Number of pages: 40 Posted: 23 Nov 2005
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 853 (47,257)
Citation 5

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political economy, shareholder protection, corporate governance, stock market development

Shareholder Protection, Stock Market Development and Politics

CEPR Discussion Paper No. 5378
Number of pages: 38 Posted: 21 Feb 2006
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 23 (853,750)
Citation 9
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Political economy, shareholder protection, corporate governance, stock market development

13.
Downloads 822 (50,574)
Citation 9

Why Do Companies Go Public? An Empirical Analysis

NBER Working Paper No. w5367
Number of pages: 62 Posted: 10 Jun 2000 Last Revised: 02 Sep 2022
Marco Pagano, Fabio Panetta and Luigi Zingales
Einaudi Institute for Economics and Finance (EIEF), Bank of Italy and University of Chicago - Booth School of Business
Downloads 822 (49,855)
Citation 9

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Why Do Companies Go Public? An Empirical Analysis

Journal of Finance, Vol. 53, No.1, February 1998
Posted: 23 Feb 2003
Marco Pagano, Fabio Panetta and Luigi Zingales
Einaudi Institute for Economics and Finance (EIEF), Bank of Italy and University of Chicago - Booth School of Business

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14.
Downloads 756 (56,424)
Citation 104

Inheritance Law and Investment in Family Firms

3rd Annual Conference on Empirical Legal Studies Papers, ECGI - Finance Working Paper No. 222/2008
Number of pages: 64 Posted: 16 Apr 2008 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Bocconi University - Department of Economics
Downloads 536 (86,533)
Citation 60

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succession, family firms, inheritance law, growth, investment

Inheritance Law and Investment in Family Firms

FEEM Working Paper No. 6.2009, EFA 2009 Bergen Meetings Paper
Number of pages: 64 Posted: 31 Jan 2009 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Bocconi University - Department of Economics
Downloads 218 (232,328)
Citation 62

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Succession, Family Firms, Inheritance Law, Growth, Investment

Inheritance Law and Investment in Family Firms

CEPR Discussion Paper No. DP6977
Number of pages: 62 Posted: 02 Dec 2008
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Bocconi University - Department of Economics
Downloads 2 (1,057,584)
Citation 17
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Family firms, Inheritance law, Investor protection

Financial Disclosure and Market Transparency with Costly Information Processing

Forthcoming, Review of Finance, ECGI - Finance Working Paper
Number of pages: 47 Posted: 21 Oct 2012 Last Revised: 07 Dec 2016
Marco Di Maggio and Marco Pagano
Harvard Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 414 (118,035)
Citation 4

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disclosure, transparency, complex assets

Financial Disclosure and Market Transparency with Costly Information Processing

Forthcoming, Review of Finance
Number of pages: 47 Posted: 01 Nov 2014 Last Revised: 07 Dec 2016
Marco Di Maggio and Marco Pagano
Harvard Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 332 (151,346)

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disclosure, transparency, financial literacy, limited attention, OTC markets

Financial Disclosure and Market Transparency with Costly Information Processing

CEPR Discussion Paper No. DP9207
Number of pages: 40 Posted: 01 Feb 2013
Marco Di Maggio and Marco Pagano
Harvard Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 2 (1,057,584)
Citation 3
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financial disclosure, information processing, liquidity, market transparency, rational inattention

16.
Downloads 715 (60,793)
Citation 58

Securitization, Transparency and Liquidity

EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper
Number of pages: 56 Posted: 05 Feb 2009 Last Revised: 30 Dec 2010
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 707 (60,862)
Citation 28

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securitization, rating, liquidity, subprime lending crisis, default

Securitization, Transparency and Liquidity

CEPR Discussion Paper No. DP7105
Number of pages: 43 Posted: 18 Feb 2009
Marco Pagano and Paolo F. Volpin
Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 8 (1,004,847)
Citation 17
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default, liquidity, rating, securitization, subprime lending crisis, transparency

17.
Downloads 698 (62,792)
Citation 7

Short-Selling Bans and Bank Stability

Number of pages: 36 Posted: 04 Jan 2016 Last Revised: 22 Sep 2020
Cass Business School, City University London - The Business School, Einaudi Institute for Economics and Finance (EIEF) and University of Naples Federico II - Department of Economics and Statistics
Downloads 599 (75,285)
Citation 5

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short selling, ban, financial crisis, bank stability, systemic risk

Short-Selling Bans and Bank Stability

ESRB: Working Paper Series No. 2018/64
Number of pages: 45 Posted: 05 Nov 2020
Cass Business School, City University London - The Business School, Einaudi Institute for Economics and Finance (EIEF) and University of Naples Federico II - Department of Economics and Statistics
Downloads 96 (452,794)

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ban, bank stability, financial crisis, short-selling, systemic risk

Short-Selling Bans and Bank Stability

CEPR Discussion Paper No. DP11090
Number of pages: 39 Posted: 17 Feb 2016
Alessandro Beber, Daniela Fabbri and Marco Pagano
Cass Business School, City University London - The Business School and Einaudi Institute for Economics and Finance (EIEF)
Downloads 3 (1,049,344)
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ban, bank stability, financial crisis, short-selling, systemic risk

The Changing Microstructure of European Equity Markets

Center for Studies in Economics and Finance (CSEF) No. 1998.04
Number of pages: 37 Posted: 25 Nov 1998
Marco Pagano
Einaudi Institute for Economics and Finance (EIEF)
Downloads 688 (63,045)
Citation 6

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The Changing Microstructure of European Equity Markets

The European Securities Markets: The Investment Services Directive and Beyond, edited by Guido Ferrarini, Kluwer Law International 1998
Posted: 21 Dec 1998
Marco Pagano
Einaudi Institute for Economics and Finance (EIEF)

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19.
Downloads 671 (66,045)
Citation 95

The Sovereign-Bank Diabolic Loop and Esbies

American Economic Review, Vol. 6, No. 5, May 2016, HEC Paris Research Paper No. FIN-2016-1133, Columbia Business School Research Paper No. 16-12
Number of pages: 14 Posted: 25 Jan 2016 Last Revised: 14 Jun 2016
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, Einaudi Institute for Economics and Finance (EIEF), London School of Economics & Political Science (LSE), Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 616 (72,693)
Citation 11

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diabolic loop, sovereign debt crisis, government default, bank default, bailout, ESBies

The Sovereign-Bank Diabolic Loop and Esbies

NBER Working Paper No. w21993
Number of pages: 16 Posted: 15 Feb 2016 Last Revised: 04 Feb 2023
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, Einaudi Institute for Economics and Finance (EIEF), London School of Economics & Political Science (LSE), Columbia Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 54 (629,030)
Citation 45

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The Sovereign-Bank Diabolic Loop and ESBies

CEPR Discussion Paper No. DP11317
Number of pages: 17 Posted: 13 Jun 2016
Princeton University - Department of Economics, Centre for Economic Policy Research (CEPR)IE Business School, Trinity College (Dublin) - Department of Economics, Einaudi Institute for Economics and Finance (EIEF), London School of Economics & Political Science (LSE), Columbia University, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Columbia University Graduate School of Business and London School of Economics
Downloads 1 (1,066,423)
Citation 31
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bailout, bank default, diabolic loop, ESBies, government default, sovereign debt crisis

20.

The COVID-19 Pandemic and Business Law: A Series of Posts from the Oxford Business Law Blog

Oxford Legal Studies Research Paper No. 15/2020
Number of pages: 34 Posted: 15 Apr 2020
Leiden University - Leiden Law School, Princeton University - Department of Economics, University of Oxford - Faculty of Law, University of Oxford Faculty of Law, Singapore Management University - Yong Pung How School of Law, Columbia Law School, SciencesPo - Department of Economics, Einaudi Institute for Economics and Finance (EIEF), London School of Economics & Political Science (LSE) and University of Oxford - Faculty of Law
Downloads 667 (66,524)
Citation 3

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COVID-19, Financial crisis, Financial regulation, Corporate governance, Insolvency law

Courts and Banks: Effects of Judicial Enforcement on Credit Markets

CSEF Working Paper No. 58
Number of pages: 43 Posted: 10 Mar 2002
Magda Bianco, Tullio Jappelli and Marco Pagano
Bank of Italy, University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 628 (70,889)
Citation 14

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enforcement, judicial efficiency, credit market, interest rates

Courts and Banks: Effects of Judicial Enforcement on Credit Markets

Number of pages: 46 Posted: 04 Jun 2002
Tullio Jappelli, Marco Pagano and Magda Bianco
University of Naples Federico II - Department of Economics and Statistics, Einaudi Institute for Economics and Finance (EIEF) and Bank of Italy
Downloads 30 (792,717)
Citation 26
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Credit market, enforcement, interest rates, judicial efficiency

Information Sharing, Lending and Defaults: Cross-Country Evidence

CSEF Working Paper No. 22.1999
Number of pages: 42 Posted: 07 Dec 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 640 (69,253)
Citation 56

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Information Sharing, Lending and Defaults: Cross-Country Evidence

CEPR Working Paper No. 2184
Posted: 23 Aug 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)

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23.
Downloads 624 (72,397)
Citation 4

Careers in Finance

Number of pages: 40 Posted: 01 Jun 2020 Last Revised: 07 Dec 2021
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
Downloads 365 (136,520)
Citation 5

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Careers in Finance

Center for Financial Studies Working Paper No. 674, 2021
Number of pages: 43 Posted: 05 Feb 2022
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
Downloads 259 (196,185)

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careers, finance premium, asset management, labor market entry, high-tech

Careers in Finance

CEPR Discussion Paper No. DP14767
Number of pages: 43 Posted: 20 May 2020 Last Revised: 04 Feb 2022
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
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asset managers, careers, Hedge Funds, market discipline, scarring effects

24.
Downloads 624 (72,397)
Citation 38

The European Bond Markets Under Emu

Number of pages: 31 Posted: 07 Dec 2004
Marco Pagano and Ernst-Ludwig von Thadden
Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
Downloads 574 (79,411)

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Euro, EMU, bond market, financial integration, bond yield differential

The European Bond Markets Under Emu

Number of pages: 34 Posted: 08 Mar 2005
Marco Pagano and Ernst-Ludwig von Thadden
Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
Downloads 50 (652,026)
Citation 24
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Euro, bond market, financial integration, bond yield differential

25.

Collateral vs. Project Screening: A Model of Lazy Banks

RAND Journal of Economics, Vol. 32, No. 4, Winter, 2001, CSEF WORKING PAPER No. 10
Number of pages: 22 Posted: 01 Dec 1998 Last Revised: 30 Dec 2010
Michael Manove, Jorge Padilla and Marco Pagano
Boston University - Department of Economics, Compass Lexecon and Einaudi Institute for Economics and Finance (EIEF)
Downloads 620 (73,008)
Citation 21

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Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 398/2014, AFA 2012 Chicago Meetings Paper
Number of pages: 57 Posted: 19 Mar 2011 Last Revised: 26 Nov 2018
New York University (NYU) - Leonard N. Stern School of Business, Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 439 (110,189)
Citation 22

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managerial talent, project allocation, insurance, mobility, turnover

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NYU Working Paper No. 2451/31368
Number of pages: 51 Posted: 15 Dec 2011 Last Revised: 18 May 2016
New York University (NYU) - Leonard N. Stern School of Business, Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 149 (325,656)

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managerial talent, alpha, risk taking, mobility, managerial labor market, competition, poaching

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NBER Working Paper No. w18891
Number of pages: 49 Posted: 17 Mar 2013 Last Revised: 13 Feb 2022
New York University (NYU) - Leonard N. Stern School of Business, Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 23 (853,750)

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Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

CEPR Discussion Paper No. DP8905
Number of pages: 42 Posted: 04 Apr 2012
New York University (NYU) - Leonard N. Stern School of Business, Einaudi Institute for Economics and Finance (EIEF) and Drexel University - Bennett S. LeBow College of Business
Downloads 4 (1,041,183)
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executive compensation, managerial talent, managerial turnover, short-termism

27.

Searching for Non-Keynesian Effects of Fiscal Policy

IGIER Working Paper No. 136
Number of pages: 27 Posted: 14 Jan 1999
National Bureau of Economic Research (NBER)University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 565 (81,939)
Citation 10

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28.

I Teoremi Di Modigliani-Miller: Una Pietra Miliare Della Finanza (The Modigliani-Miller Theorems: A Cornerstone of Finance)

Moneta e Credito, Vol.58, No. 230-231
Number of pages: 13 Posted: 22 May 2012
Marco Pagano
Einaudi Institute for Economics and Finance (EIEF)
Downloads 557 (83,454)

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teorema MM, debito, azioni, dividendi, utili

Information Sharing and Credit: Firm-Level Evidence from Transition Countries

ECGI - Finance Working Paper No. 201/2008, EFA 2007 Ljubljana Meetings Paper
Number of pages: 43 Posted: 02 Mar 2007 Last Revised: 29 May 2013
Martin Brown, Tullio Jappelli and Marco Pagano
University of St. Gallen, University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 538 (86,110)
Citation 12

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information sharing, credit access, transition countries

Information Sharing and Credit: Firm-Level Evidence from Transition Countries

CEPR Discussion Paper No. DP6313
Number of pages: 40 Posted: 27 May 2008
Martin Brown, Tullio Jappelli and Marco Pagano
University of St. Gallen, University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 2 (1,057,584)
Citation 20
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credit access, information sharing, transition countries

30.

Lessons from the European Financial Crisis

CFS Working Paper No. 486
Number of pages: 31 Posted: 01 Nov 2014
Marco Pagano
Einaudi Institute for Economics and Finance (EIEF)
Downloads 528 (89,188)
Citation 3

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bank regulation, euro, financial crisis, sovereign exposures, forbearance, bank resolution, bank capital requirements

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 2014-23, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 517/2017
Number of pages: 73 Posted: 23 Jul 2014 Last Revised: 09 Nov 2017
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Luiss Guido Carli - Department of Economics and Finance
Downloads 290 (174,789)
Citation 14

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risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 15-69, CFS Working Paper No. 517
Number of pages: 67 Posted: 22 Sep 2015 Last Revised: 17 Sep 2017
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Luiss Guido Carli - Department of Economics and Finance
Downloads 227 (223,516)
Citation 3

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risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

CEPR Discussion Paper No. DP10711
Number of pages: 61 Posted: 13 Jul 2015
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Luiss Guido Carli - Department of Economics and Finance
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Citation 7
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family firms, insurance, risk-sharing, social security, unemployment, wages

32.
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Citation 7

Advertising Arbitrage

CFS Working Paper No. 482
Number of pages: 47 Posted: 14 Oct 2014 Last Revised: 04 Apr 2022
Sergey Kovbasyuk and Marco Pagano
New Economic School, Moscow and Einaudi Institute for Economics and Finance (EIEF)
Downloads 215 (235,361)
Citation 4

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limits to arbitrage, advertising, price discovery, limited attention

Advertising Arbitrage

Number of pages: 47 Posted: 02 May 2014 Last Revised: 04 Apr 2022
Sergey Kovbasyuk and Marco Pagano
New Economic School, Moscow and Einaudi Institute for Economics and Finance (EIEF)
Downloads 191 (262,498)
Citation 4

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limits to arbitrage, advertising, price discovery, limited attention

Advertising Arbitrage

CFS Working Paper, No. 641, 2021
Number of pages: 47 Posted: 04 Sep 2020 Last Revised: 04 Apr 2022
Sergey Kovbasyuk and Marco Pagano
New Economic School, Moscow and Einaudi Institute for Economics and Finance (EIEF)
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limits to arbitrage, advertising, price discovery, limited attention

Advertising Arbitrage

CEPR Discussion Paper No. DP15064
Number of pages: 46 Posted: 28 Jul 2020 Last Revised: 04 Feb 2022
Sergey Kovbasyuk and Marco Pagano
New Economic School, Moscow and Einaudi Institute for Economics and Finance (EIEF)
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advertising, imits to arbitrage, limited attention, price discovery

Loan Guarantees, Bank Lending and Credit Risk Reallocation

Number of pages: 51 Posted: 18 Nov 2021 Last Revised: 08 Aug 2022
European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF), Luiss Guido Carli University - Department of Economics and Finance and European Central Bank (ECB)
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loan guarantees, bank lending, COVID-19 pandemic, substitution, credit risk

Loan Guarantees, Bank Lending and Credit Risk Reallocation

Center for Financial Studies Working Paper No. 672, 2021
Number of pages: 46 Posted: 05 Feb 2022
European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF), Luiss Guido Carli University - Department of Economics and Finance and European Central Bank (ECB)
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loan guarantees, bank lending, COVID-19 pandemic, substitution, credit risk

Loan Guarantees, Bank Lending and Credit Risk Reallocation

CEPR Discussion Paper No. DP16727
Number of pages: 46 Posted: 04 Feb 2022
European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF), Luiss University of Rome and European Central Bank (ECB)
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bank lending, Covid-19 pandemic, credit risk, loan guarantees, substitution

34.

Valutation, Liquidity and Risk in Government Bond Markets

IGIER Working Paper No. 281
Number of pages: 44 Posted: 07 Feb 2005
Bocconi University - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
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Citation 24

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35.
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Citation 16

Bank Exposures and Sovereign Stress Transmission

Review of Finance
Number of pages: 54 Posted: 06 Aug 2015 Last Revised: 13 Aug 2017
European Central Bank (ECB), Einaudi Institute for Economics and Finance (EIEF) and University of Naples Federico II - Department of Economics and Statistics
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sovereign exposures, sovereign risk, bank lending, credit risk, euro, crisis

Bank Exposures and Sovereign Stress Transmission

CFS Working Paper, No. 539
Number of pages: 64 Posted: 08 Oct 2016 Last Revised: 02 Apr 2018
European Central Bank (ECB), Einaudi Institute for Economics and Finance (EIEF) and University of Naples Federico II - Department of Economics and Statistics
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Citation 11

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overeign exposures, sovereign risk, bank lending, credit risk, euro, crisis

Bank Exposures and Sovereign Stress Transmission

ECB Working Paper No. 1969
Number of pages: 66 Posted: 19 Oct 2016
European Central Bank (ECB), Einaudi Institute for Economics and Finance (EIEF) and University of Naples Federico II - Department of Economics and Statistics
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sovereign exposures, sovereign risk, credit risk, diabolic loop, euro debt crisis

36.
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Citation 85

How Does Liquidity Affect Government Bond Yields?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 61 Posted: 26 Jan 2009 Last Revised: 29 Jan 2009
Bocconi University - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
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bond markets, liquidity, risk

How Does Liquidity Affect Government Bond Yields?

Number of pages: 61 Posted: 15 Oct 2008 Last Revised: 20 Oct 2008
Bocconi University - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
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Liquidity, yield differentials, bond markets

How Does Liquidity Affect Government Bond Yields?

CEPR Discussion Paper No. DP6649
Number of pages: 44 Posted: 05 Jun 2008
Bocconi University - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and Universitaet Mannheim
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Citation 10
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Bond yields, euro area, liquidity, risk

37.
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Optimal Regulation of Auditing

CESifo Working Paper Series No. 1980
Number of pages: 32 Posted: 15 May 2007
Marco Pagano and Giovanni Immordino
Einaudi Institute for Economics and Finance (EIEF) and CSEF - University of Naples Federico II
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auditing, regulation, enforcement, collusion

Optimal Regulation of Auditing

CESifo Economic Studies, Vol. 53, No. 3, pp. 363-388, 2007
Posted: 28 Sep 2009
Marco Pagano and Giovanni Immordino
Einaudi Institute for Economics and Finance (EIEF) and CSEF - University of Naples Federico II

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auditing, regulation, enforcement, collusion.

38.
Downloads 444 (109,816)
Citation 7

Transparency, Tax Pressure and Access to Finance

AFA 2012 Chicago Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 332/2012
Number of pages: 67 Posted: 18 Mar 2011 Last Revised: 20 Nov 2018
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics, Einaudi Institute for Economics and Finance (EIEF) and Bocconi University - Department of Economics
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transparency, tax pressure, investment, access to finance

Transparency, Tax Pressure and Access to Finance

CEPR Discussion Paper No. DP8939
Number of pages: 64 Posted: 25 May 2012
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics, Einaudi Institute for Economics and Finance (EIEF) and Bocconi University - Department of Economics
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access to finance, tax pressure, Transparency

39.
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Citation 9

Career Risk and Market Discipline in Asset Management

Kelley School of Business Research Paper No. 17-78, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 558/2018
Number of pages: 90 Posted: 21 Nov 2017 Last Revised: 15 Mar 2019
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
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Citation 9

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Careers, hedge funds, asset managers, market discipline, scarring effects

Career Risk and Market Discipline in Asset Management

CFS Working Paper, No. 602, 2018
Number of pages: 84 Posted: 19 Nov 2018 Last Revised: 04 Mar 2019
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
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careers, hedge funds, asset managers, market discipline, scarring effects

Career Risk and Market Discipline in Asset Management

CEPR Discussion Paper No. DP12851
Number of pages: 63 Posted: 12 Apr 2018
Indiana University - Kelley School of Business - Department of Finance, Einaudi Institute for Economics and Finance (EIEF) and CSEF
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asset managers, careers, Hedge Funds, market discipline, scarring effects

40.
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Citation 22

Where is the Market? Evidence from Cross-Listings

Number of pages: 29 Posted: 23 Jun 2004
University of Vienna - Department of Business Engineering, Einaudi Institute for Economics and Finance (EIEF), Vienna University of Economics and Business and Vienna University of Economics and Business
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Citation 11

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trading volume, cross-listing, flow-back

Where is the Market? Evidence from Cross-Listings

CEPR Discussion Paper No. 4987
Number of pages: 34 Posted: 05 Aug 2005
University of Vienna - Department of Business Engineering, Einaudi Institute for Economics and Finance (EIEF), Vienna University of Economics and Business and Vienna University of Economics and Business
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Citation 1
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Trading volume, cross-listing, flow-back

41.

The Determinants of Savings: Lessons from Italy

IDB Working Paper No. 86
Number of pages: 36 Posted: 25 Apr 2011
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 377 (132,729)
Citation 6

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42.

Emergency Measures for Equity Trading: The Case Against Short-Selling Bans and Stock Exchange Shutdowns

Forthcoming, Christos Gortsos and Wolf-Georg Ringe (eds), Global Pandemic Crisis and Financial Stability, European Corporate Governance Institute - Law Working Paper, 513/2020
Number of pages: 15 Posted: 15 May 2020 Last Revised: 18 May 2020
Luca Enriques and Marco Pagano
University of Oxford Faculty of Law and Einaudi Institute for Economics and Finance (EIEF)
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COVID-19 Crisis, Equity Markets, Securities Regulation, Short-selling bans, Stock Exchanges

43.

Sharing Default Information as a Borrower Discipline Device

CSEF Working Paper No. 21
Number of pages: 39 Posted: 22 Mar 2000
Jorge Padilla and Marco Pagano
Compass Lexecon and Einaudi Institute for Economics and Finance (EIEF)
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Citation 25

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44.
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The Geography of Investor Attention

Number of pages: 1 Posted: 01 Dec 2021 Last Revised: 03 Feb 2023
University of Bologna - Department of Management, Einaudi Institute for Economics and Finance (EIEF) and University of Bologna - Department of Statistical Sciences
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attention, retail investors, local investors, distance, news, liquidity, volatility

The Geography of Investor Attention

Center for Financial Studies Working Paper No. 671, 2021
Number of pages: 54 Posted: 05 Feb 2022 Last Revised: 06 Feb 2023
University of Bologna - Department of Management, Einaudi Institute for Economics and Finance (EIEF) and University of Bologna - Department of Statistical Sciences
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attention, retail investors, local investors, distance, news, liquidity, volatility

The Geography of Investor Attention

CEPR Discussion Paper No. DP16747
Number of pages: 50 Posted: 08 Feb 2022
University of Bologna - Department of Management, Einaudi Institute for Economics and Finance (EIEF) and University of Bologna - Department of Statistical Sciences
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attention, distance, liquidity, local investors, News, Retail investors, volatility

45.

Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience

NBER Working Paper No. w5332
Number of pages: 50 Posted: 15 Jul 2000 Last Revised: 29 Jul 2022
National Bureau of Economic Research (NBER)University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and Einaudi Institute for Economics and Finance (EIEF)
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Citation 6

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46.

Corporate Leverage and Employees’ Rights in Bankruptcy

Kelley School of Business Research Paper No. 17-33
Number of pages: 72 Posted: 18 Apr 2017 Last Revised: 29 Mar 2019
Andrew Ellul and Marco Pagano
Indiana University - Kelley School of Business - Department of Finance and Einaudi Institute for Economics and Finance (EIEF)
Downloads 296 (172,047)
Citation 8

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workers’ rights, bankruptcy, seniority, leverage, wage bargaining

47.

Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries

NBER Working Paper No. w3372
Number of pages: 55 Posted: 09 May 2000 Last Revised: 19 Sep 2022
National Bureau of Economic Research (NBER)University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and Einaudi Institute for Economics and Finance (EIEF)
Downloads 278 (183,610)
Citation 16

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The COVID-19 Shock and Equity Shortfall: Firm-Level Evidence from Italy

SAFE Working Paper No. 285, 2020, NYU Stern School of Business
Number of pages: 34 Posted: 13 Aug 2020 Last Revised: 29 Oct 2020
Bocconi University - Department of Finance, CefES, Einaudi Institute for Economics and Finance (EIEF), Goethe University Frankfurt - Faculty of Economics and Business Administration and New York University (NYU) - Leonard N. Stern School of Business
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Citation 6

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COVID-19, pandemics, losses, distress, equity, recapitalization

49.

Information Sharing in Credit Markets: International Evidence

IDB Working Paper No. 106
Number of pages: 39 Posted: 19 Apr 2011
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and Statistics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 257 (198,631)
Citation 130

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50.

COVID-19 and Corporate Finance

Forthcoming, The Review of Corporate Finance Studies, European Corporate Governance Institute – Finance Working Paper No. 840/2022
Number of pages: 56 Posted: 10 Aug 2022 Last Revised: 30 Aug 2022
Marco Pagano and Josef Zechner
Einaudi Institute for Economics and Finance (EIEF) and Vienna University of Economics and Business
Downloads 248 (206,525)
Citation 3