Paolo F. Volpin

Drexel University - Bennett S. LeBow College of Business

Professor of Finance

101 N. 33rd St.

Philadelphia, PA 19104

United States

Centre for Economic Policy Research (CEPR)

Research Affiliate

London

United Kingdom

European Corporate Governance Institute (ECGI)

Research Associate

c/o ECARES ULB CP 114

B-1050 Brussels

Belgium

http:/www.ecgi.org

City University London - Faculty of Finance

Professor of Finance

London, EC2Y 8HB

Great Britain

  • Drexel University - Bennett S. LeBow College of Business

  • City University London - Faculty of Finance

SCHOLARLY PAPERS

32

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615

CROSSREF CITATIONS

661

Scholarly Papers (32)

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1.

Corporate Governance Reforms in Continental Europe

Journal of Economic Perspectives, Vol. 21, No. 1, pp. 117-140, Winter 2007
Number of pages: 24 Posted: 16 Mar 2007
Luca Enriques and Paolo F. Volpin
University of Oxford Faculty of Law and Drexel University - Bennett S. LeBow College of Business
Downloads 6,230 (1,701)
Citation 10

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Corporate Governance, Concentrated Ownership, Corporate Law Reform, Internal Governance, Shareholder Empowerment, Disclosure, Private Enforcement, Public Enforcement

2.

Cross-Country Determinants of Mergers and Acquisitions

Downloads 5,597 ( 1,997)
Citation 83

Cross-Country Determinants of Mergers and Acquisitions

Number of pages: 40 Posted: 29 May 2003
Stefano Rossi and Paolo F. Volpin
Bocconi University and Drexel University - Bennett S. LeBow College of Business
Downloads 5,531 (2,004)
Citation 82

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Mergers and acquisitions, Corporate governance, Investor protection

Cross-Country Determinants of Mergers and Acquisitions

Number of pages: 34 Posted: 20 Jun 2003
Stefano Rossi and Paolo F. Volpin
Bocconi University and Drexel University - Bennett S. LeBow College of Business
Downloads 66 (466,696)
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Mergers and acquisitions, corporate governance, investor protection

3.

Managers, Workers, and Corporate Control

Downloads 2,607 ( 7,365)
Citation 83

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 University of Naples Federico II - Department of Economics and Statistics
Downloads 2,583 (7,354)
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
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 24 (690,604)
Citation 38
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Corporate control, private benefits, takeovers, ESOPs, employment protection

4.

History of Corporate Ownership in Italy

Number of pages: 43 Posted: 31 Mar 2003
Alexander Aganin and Paolo F. Volpin
Cornerstone Research and Drexel University - Bennett S. LeBow College of Business
Downloads 2,233 (9,388)
Citation 53

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law and finance, political economy, financial development, ownership concentration, pyramids, family capitalism

5.

The Political Economy of Corporate Governance

Downloads 1,812 ( 13,227)
Citation 73

The Political Economy of Corporate Governance

Number of pages: 35 Posted: 15 Mar 2000
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 1,812 (13,002)
Citation 73

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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 University of Naples Federico II - Department of Economics and Statistics

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6.

The Life Cycle of Family Ownership: International Evidence

EFA 2009 Bergen Meetings Paper, AFA 2009 San Francisco Meetings Paper, Paris December 2011 Finance Meeting EUROFIDAI - AFFI
Number of pages: 68 Posted: 06 Mar 2008 Last Revised: 25 Oct 2011
Julian R. Franks, Colin Mayer, Paolo F. Volpin and Hannes F. Wagner
London Business School - Institute of Finance and Accounting, University of Oxford - Said Business School, Drexel University - Bennett S. LeBow College of Business and Bocconi University - Department of Finance
Downloads 1,714 (14,468)
Citation 13

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ownership, family firms, life cycle, corporate performance

7.

Competition for Managers and Corporate Governance

Downloads 1,370 ( 20,253)
Citation 17

Competition for Managers and Corporate Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 399/2014, AFA 2011 Denver Meetings Paper
Number of pages: 61 Posted: 19 Mar 2010 Last Revised: 26 Nov 2018
Viral V. Acharya, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
Downloads 975 (32,844)
Citation 16

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corporate governance, executive compensation, separate CEO and Chairman.

Competition for Managers, Corporate Governance and Incentive Compensation

AFA 2012 Chicago Meetings Paper
Number of pages: 46 Posted: 19 Mar 2011
Viral V. Acharya, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
Downloads 391 (105,989)
Citation 6

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corporate governance, executive compensation, externalities

Competition for Managers, Corporate Governance and Incentive Compensation

CEPR Discussion Paper No. DP8936
Number of pages: 51 Posted: 25 May 2012
Viral V. Acharya, Viral V. Acharya, Marc Gabarro and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Mannheim and Drexel University - Bennett S. LeBow College of Business
Downloads 4 (885,318)
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corporate governance, executive compensation, externalities

8.

Corporate Governance Externalities

Downloads 1,260 ( 23,010)
Citation 10

Corporate Governance Externalities

ECGI - Finance Working Paper No. 195/2008
Number of pages: 49 Posted: 20 Dec 2007 Last Revised: 01 Mar 2009
Viral V. Acharya, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
Downloads 1,072 (28,653)
Citation 12

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corporate governance, executive compensation, ownership structure, externality, regulation, governance standards

Corporate Governance Externalities

EFA 2008 Athens Meetings Paper
Number of pages: 45 Posted: 06 Mar 2008 Last Revised: 29 Sep 2008
Viral V. Acharya, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
Downloads 182 (229,640)

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corporate governance, executive compensation, ownership structure, externality, regulation, governance standards

Corporate Governance Externalities

CEPR Discussion Paper No. DP6627
Number of pages: 33 Posted: 05 Jun 2008
Viral V. Acharya, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business
Downloads 6 (861,950)
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Corporate governance, executive compensation, externality, governance standards, ownership structure, regulation

Corporate Governance Externalities

Review of Finance, Vol. 14, Issue 1, pp. 1-33, 2010
Posted: 25 Jan 2010
Viral V. Acharya, Viral V. Acharya and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business and Drexel University - Bennett S. LeBow College of Business

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G34, J63, K22, K42, L14

9.

Does Family Control Matter? International Evidence from the 2008-2009 Financial Crisis

Review of Financial Studies, Forthcoming
Number of pages: 52 Posted: 25 Nov 2011 Last Revised: 02 May 2013
Karl V. Lins, Paolo F. Volpin and Hannes F. Wagner
University of Utah - Department of Finance, Drexel University - Bennett S. LeBow College of Business and Bocconi University - Department of Finance
Downloads 944 (34,843)
Citation 31

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blockholders, control, financial crisis, family

10.

Employment Protection and Takeovers

Journal of Financial Economics (JFE), Forthcoming, Rotman School of Management Working Paper No. 2619028
Number of pages: 55 Posted: 16 Jun 2015 Last Revised: 09 May 2017
Olivier Dessaint, Andrey Golubov and Paolo F. Volpin
INSEAD, University of Toronto - Rotman School of Management and Drexel University - Bennett S. LeBow College of Business
Downloads 899 (37,349)
Citation 18

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Employment Protection, Takeovers, Mergers and Acquisitions, Synergy Gains, Premiums, Efficiency

11.

Shareholder Protection, Stock Market Development, and Politics

Downloads 857 ( 39,945)
Citation 29

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
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 834 (40,873)
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
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 23 (698,639)
Citation 7
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Political economy, shareholder protection, corporate governance, stock market development

12.

Ownership Structure, Banks and Private Benefits of Control

Number of pages: 36 Posted: 11 Jan 2001
Paolo F. Volpin
Drexel University - Bennett S. LeBow College of Business
Downloads 741 (48,519)
Citation 6

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Relationship financing, corporate governance, ownership structure, investor protection

13.

Governance with Poor Investor Protection: Evidence from Top Executive Turnover

Number of pages: 42 Posted: 12 Mar 2001
Paolo F. Volpin
Drexel University - Bennett S. LeBow College of Business
Downloads 729 (49,579)
Citation 5

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Management turnover, corporate governance, pyramidal groups

14.

Securitization, Transparency and Liquidity

Downloads 682 ( 54,181)
Citation 51

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
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 674 (54,261)
Citation 29

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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
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 8 (840,009)
Citation 8
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default, liquidity, rating, securitization, subprime lending crisis, transparency

15.

Politics, Investor Protection and Competition

ECGI - Finance Working Paper No. 162/2007, Tinbergen Institute Discussion Paper No. 07-006/2
Number of pages: 42 Posted: 20 Jan 2007
Enrico C. Perotti and Paolo F. Volpin
University of Amsterdam - Finance Group and Drexel University - Bennett S. LeBow College of Business
Downloads 587 (65,563)
Citation 27

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Financial Development, Investor protection, Competition, Lobbying, Entry, Cost of Entry

16.

The Corporate Governance of Defined Benefit Pension Plans: Evidence from the United Kingdom

Downloads 569 ( 68,236)
Citation 16

The Corporate Governance of Defined Benefit Pension Plans: Evidence from the United Kingdom

ECGI - Finance Working Paper No. 76/2005
Number of pages: 43 Posted: 23 Feb 2005
Joao F. Cocco and Paolo F. Volpin
London Business School and Drexel University - Bennett S. LeBow College of Business
Downloads 542 (71,696)
Citation 19

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Defined benefits, pension plans, insiders, corporate governance, pension trustees

The Corporate Governance of Defined-Benefit Pension Plans: Evidence from the United Kingdom

Number of pages: 40 Posted: 24 Jun 2005
Joao F. Cocco and Paolo F. Volpin
London Business School and Drexel University - Bennett S. LeBow College of Business
Downloads 27 (667,261)
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Defined-benefits, pension plans, insiders, corporate governance, pension trustees

17.

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

Downloads 545 ( 71,994)
Citation 15

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
Viral V. Acharya, Viral V. Acharya, Marco Pagano and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 408 (100,866)
Citation 16

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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
Viral V. Acharya, Viral V. Acharya, Marco Pagano and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 123 (315,714)

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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
Viral V. Acharya, Viral V. Acharya, Marco Pagano and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 10 (818,801)

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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
Viral V. Acharya, Viral V. Acharya, Marco Pagano and Paolo F. Volpin
ProfessorNew York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 4 (885,318)
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executive compensation, managerial talent, managerial turnover, short-termism

18.

Labor Protection and Leverage

Number of pages: 50 Posted: 28 Mar 2012 Last Revised: 13 Apr 2014
Elena Simintzi, Vikrant Vig and Paolo F. Volpin
University of North Carolina Kenan-Flagler Business School, London Business School and Drexel University - Bennett S. LeBow College of Business
Downloads 372 (113,006)
Citation 51

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labor regulation, capital structure, tangibility, operating leverage

19.

Endogenous Political Institutions and Financial Development

Number of pages: 39 Posted: 03 Aug 2017
Thomas Lambert and Paolo F. Volpin
Rotterdam School of Management, Erasmus University and Drexel University - Bennett S. LeBow College of Business
Downloads 348 (121,689)
Citation 4

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banking sector, financial development, law and finance, political economy, political institutions, political power, stock markets, suffrage institutions

20.

Lobbying on Entry

Downloads 343 (123,667)
Citation 17

Lobbying on Entry

Number of pages: 44 Posted: 28 Jun 2004
Enrico C. Perotti and Paolo F. Volpin
University of Amsterdam - Finance Group and Drexel University - Bennett S. LeBow College of Business
Downloads 313 (135,494)
Citation 33

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Politics, Entry, Financial Development, Entrepreneurship, Investor protection, Income Inequality, Growth

Lobbying on Entry

Number of pages: 47 Posted: 17 Sep 2004
Enrico C. Perotti and Paolo F. Volpin
University of Amsterdam - Finance Group and Drexel University - Bennett S. LeBow College of Business
Downloads 30 (645,798)
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Politics, entry, financial development, entrepreneurship, investor protection, income inequality, growth

21.

Institutional Debt Holder Governance

Journal of Financial and Quantitative Analysis, forthcoming, European Corporate Governance Institute - Finance Working Paper No. 613/2019
Number of pages: 54 Posted: 07 Dec 2018 Last Revised: 05 May 2020
Aneel Keswani, Anh L. Tran and Paolo F. Volpin
Faculty of Finance, Cass Business School, City University, London, Bayes Business School (formerly Cass Business School), City University of London and Drexel University - Bennett S. LeBow College of Business
Downloads 265 (161,670)
Citation 2

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corporate governance, institutional investors, agency costs of debt

22.

When Stocks are Illiquid: Activism as a Strategy of Last Resort

Number of pages: 48 Posted: 12 Jun 2019 Last Revised: 04 Apr 2022
Emmanuel Pezier and Paolo F. Volpin
University of Oxford, Saïd Business School and Drexel University - Bennett S. LeBow College of Business
Downloads 228 (186,974)
Citation 1

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shareholder activism, corporate governance, institutional investors

23.

The Political Economy of Entry: Lobbying and Financial Development

Number of pages: 32 Posted: 05 Jan 2005
Enrico C. Perotti and Paolo F. Volpin
University of Amsterdam - Finance Group and Drexel University - Bennett S. LeBow College of Business
Downloads 213 (199,392)
Citation 7

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24.

Public Information and Inefficient Investment

Number of pages: 43 Posted: 17 Mar 2010 Last Revised: 15 Dec 2012
Vito Gala and Paolo F. Volpin
Morningstar Investment Management and Drexel University - Bennett S. LeBow College of Business
Downloads 192 (219,212)

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inefficient investment, liquidity crises, general equilibrium, social welfare, incomplete markets, public information, disclosure, regulation

25.

Mandatory Financial Disclosure and M&A Activity

Number of pages: 39 Posted: 11 Mar 2021
Marcelo Ortiz M., Marcelo Ortiz M., Caspar David Peter, Francisco Urzúa I. and Paolo F. Volpin
Universitat Pompeu FabraUniversitat Pompeu Fabra, Erasmus University Rotterdam (EUR) - Rotterdam School of Management (RSM), City University London - Bayes Business School and Drexel University - Bennett S. LeBow College of Business
Downloads 186 (225,302)

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Disclosure, M&As, Uncertainty, Asymmetric Information

26.

Marking to Market and Inefficient Investment Decisions

HEC Paris Research Paper No. FIN-2013-986
Number of pages: 67 Posted: 15 Feb 2013 Last Revised: 15 Jun 2016
Clemens A. Otto and Paolo F. Volpin
Singapore Management University - Lee Kong Chian School of Business and Drexel University - Bennett S. LeBow College of Business
Downloads 183 (228,518)
Citation 1

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Marking to Market, Investment Decisions, Reputation, Agency Problem

27.

Trading Off Stakeholder Interests: Evidence from Antitrust Investigations

Number of pages: 36 Posted: 18 Feb 2021 Last Revised: 22 Feb 2022
Giacinta Cestone, Jiaying Li and Paolo F. Volpin
Bayes Business School, City University London, Bayes Business School, City University of London and Drexel University - Bennett S. LeBow College of Business
Downloads 114 (331,576)

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Antitrust, Cartels, Mass Layoffs, Stakeholders

28.

The Political Economy of Finance

Downloads 76 (427,420)
Citation 5

The Political Economy of Finance

Number of pages: 35 Posted: 21 Mar 2002
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 76 (432,248)
Citation 5
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Political economy, shareholder protection, corporate governance, bankruptcy law, credit market regulation, financial

The Political Economy of Finance

Posted: 17 Oct 2003
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business

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29.

The Political Economy of Personal Bankruptcy Law

Number of pages: 39 Posted: 27 Nov 2013
Vito Gala, Jodie A. Kirshner and Paolo F. Volpin
Morningstar Investment Management, University of Cambridge and Drexel University - Bennett S. LeBow College of Business
Downloads 64 (467,840)
Citation 3

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personal bankruptcy, homestead exemption, political economy, federalism, creditor rights, income inequality

30.

Governance with Poor Investor Protection: Evidence from Top Executive Turnover in Italy

Number of pages: 51 Posted: 21 Mar 2002
Paolo F. Volpin
Drexel University - Bennett S. LeBow College of Business
Downloads 41 (566,955)
Citation 11
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Executive turnover, corporate governance, pyramidal groups

31.

Credit Ratings Failures and Policy Options

CEPR Discussion Paper No. DP7556
Number of pages: 31 Posted: 11 Jan 2010
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and Drexel University - Bennett S. LeBow College of Business
Downloads 7 (818,923)
Citation 5
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credit rating agencies, crisis, default, liquidity, securitization, transparenccy

32.

Corporate Governance of Pension Plans: The U.K. Evidence

Financial Analysts Journal, Vol. 63, No. 1, pp. 70-83, January/February 2007
Posted: 02 Feb 2007
Joao F. Cocco and Paolo F. Volpin
London Business School and Drexel University - Bennett S. LeBow College of Business

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Portfolio Management, Investment Policy, Asset Allocation, Corporate Governance

Other Papers (1)

Total Downloads: 22
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1.

The Political Economy of Personal Bankruptcy Laws: Evidence from the 1978 Reform

Number of pages: 34 Posted: 22 Mar 2011 Last Revised: 16 Jul 2012
Jodie A. Kirshner and Paolo F. Volpin
University of Cambridge and Drexel University - Bennett S. LeBow College of Business
Downloads 22

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personal bankruptcy, homestead exemption, political economy, federalism, creditor rights, income inequality.