Giovanna Nicodano

University of Turin - Department ESOMAS

Professor of Financial Economics

Turin, 10134

Italy

http://https://www.carloalberto.org/person/giovanna-nicodano/

Collegio Carlo Alberto

Research Fellow

Piazza Arbarello 8

Torino, Torino 10121

Italy

http://https://www.carloalberto.org/person/giovanna-nicodano

CEPR

London

United Kingdom

EGCI

Research Associate

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

Netspar

International Fellow

P.O. Box 90153

Tilburg, 5000 LE

Netherlands

  • University of Turin - Department ESOMAS

  • Collegio Carlo Alberto

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SCHOLARLY PAPERS

32

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72

CROSSREF CITATIONS

56

Scholarly Papers (32)

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1.

Public Policy and the Creation of Active Venture Capital Markets

ECB Working Paper No. 430; EFA 2004 Maastricht Meetings Paper No. 3701; IGIER Working Paper No. 270
Number of pages: 46 Posted: 27 Apr 2005
Marco Da Rin, Giovanna Nicodano and Alessandro Sembenelli
Tilburg University, Department of Finance, University of Turin - Department ESOMAS and University of Turin - Department of Economics and Financial Sciences G. Prato
Downloads 970 (38,399)
Citation 36

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Venture Capital, Capital Gains Tax, Public R&D Expenditure, Barriers to Entrepreneurship, Stock Markets, Public Policy

2.

Business Groups and Debt

Number of pages: 32 Posted: 07 Mar 2002
Magda Bianco and Giovanna Nicodano
Bank of Italy and University of Turin - Department ESOMAS
Downloads 805 (49,669)
Citation 1

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capital structure, insolvency risk, pyramidal groups, protection of minority shareholders, asset partitioning

3.

Private Benefits, Block Transaction Premiums and Ownership Structure

Downloads 770 (52,767)

Private Benefits, Block Transaction Premiums and Ownership Structure

Number of pages: 30 Posted: 03 Apr 2000
Alessandro Sembenelli and Giovanna Nicodano
University of Turin - Department of Economics and Financial Sciences G. Prato and University of Turin - Department ESOMAS
Downloads 770 (52,025)
Citation 1

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Private Benefits, Block Transaction Premiums and Ownership Structure

International Review of Financial Analysis, Vol. 13, No. 2, pp. 227-244, 2004
Posted: 08 May 2006
Giovanna Nicodano and Alessandro Sembenelli
University of Turin - Department ESOMAS and University of Turin - Department of Economics and Financial Sciences G. Prato

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Power index, Control rents, Ownership structure, Acquisitions, Market for corporate control

4.

Privatization and Financial Market Development: Theoretical Issues

FEEM Working Paper No. 1.2003
Number of pages: 27 Posted: 27 Feb 2003
Gabriella Chiesa and Giovanna Nicodano
University of Bologna - Department of Economics and University of Turin - Department ESOMAS
Downloads 580 (76,175)
Citation 6

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Privatization, Financial Market Development

5.

Small Caps in International Equity Portfolios: The Effects of Variance Risk

Downloads 562 (79,217)
Citation 2

Small Caps in International Equity Portfolios: The Effects of Variance Risk

AFA 2006 Boston Meetings Paper
Number of pages: 54 Posted: 19 Mar 2005
Giovanna Nicodano and Massimo Guidolin
University of Turin - Department ESOMAS and University of Liverpool Management School
Downloads 562 (78,303)
Citation 2

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intertemporal portfolio choice, return predictability, co-skewness and co-kurtosis, international portfolio diversification

Small Caps in International Equity Portfolios: The Effects of Variance Risk

Annals of Finance, Forthcoming
Posted: 16 Jan 2008
Giovanna Nicodano and Massimo Guidolin
University of Turin - Department ESOMAS and University of Liverpool Management School

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Intertemporal portfolio choice, Return predictability, Co-skewness and co-kurtosis, International portfolio diversification

6.

Insider Trading, Investment and Liquidity: A Welfare Analysis

Number of pages: 28 Posted: 08 Jun 2000
Sudipto Bhattacharya and Giovanna Nicodano
London School of Economics and University of Turin - Department ESOMAS
Downloads 470 (98,665)
Citation 7

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7.

A Reply to Douglas Cumming’s 'Review Essay: Public Policy and the Creation of Active Venture Capital Markets'

Venture Capital: An International Journal of Entrepreneurial Finance, Forthcoming
Number of pages: 4 Posted: 07 Nov 2010
Marco Da Rin, Giovanna Nicodano and Alessandro Sembenelli
Tilburg University, Department of Finance, University of Turin - Department ESOMAS and University of Turin - Department of Economics and Financial Sciences G. Prato
Downloads 405 (117,462)
Citation 2

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Venture Capital, Entrepreneurship, Public Policy, Capital Gains Tax

8.

1/N and Long Run Optimal Portfolios: Results for Mixed Asset Menus

Federal Reserve Bank of St, Louis, Working Paper No. 2010-003A
Number of pages: 47 Posted: 09 Jan 2010 Last Revised: 19 May 2014
Carolina Fugazza, Massimo Guidolin and Giovanna Nicodano
University of Torino -Department of Economics ESOMAS, University of Liverpool Management School and University of Turin - Department ESOMAS
Downloads 373 (128,969)
Citation 1

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equally weighted portfolios, long investment horizon, real-time strategic asset allocation, public real estate vehicles, ex post performance, predictability, parameter uncertainty

9.

A Trade-off Theory of Ownership and Capital Structure

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 58 Posted: 30 Oct 2015 Last Revised: 18 Sep 2018
Giovanna Nicodano and Luca Regis
University of Turin - Department ESOMAS and University of Turin
Downloads 346 (140,144)
Citation 3

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ownership, leverage, taxes, Thin Capitalization, groups, multinationals

10.

Time and Risk Diversification in Real Estate Investments: Assessing the Ex Post Economic Value

Downloads 346 (140,144)
Citation 6

Time and Risk Diversification in Real Estate Investments: Assessing the Ex Post Economic Value

Federal Reserve Bank of St. Louis Working Paper No. 2009-001A
Number of pages: 35 Posted: 15 Jan 2009
Carolina Fugazza, Massimo Guidolin and Giovanna Nicodano
University of Torino -Department of Economics ESOMAS, University of Liverpool Management School and University of Turin - Department ESOMAS
Downloads 242 (201,826)

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real time asset allocation, real estate, ex post performance, predictability, parameter uncertainty

Time and Risk Diversification in Real Estate Investments: Assessing the Ex Post Economic Value

Manchester Business School Research Paper No. 581
Number of pages: 45 Posted: 01 Dec 2009
Massimo Guidolin, Carolina Fugazza and Giovanna Nicodano
University of Liverpool Management School, University of Torino -Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 104 (411,246)
Citation 1

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real time asset allocation, real estate, ex post performance, predictability, parameter uncertainty

11.

Investing for the Long-Run in European Real Estate: Does Predictability Matter?

Number of pages: 43 Posted: 28 Jan 2005
Carolina Fugazza, Giovanna Nicodano and Massimo Guidolin
University of Torino -Department of Economics ESOMAS, University of Turin - Department ESOMAS and University of Liverpool Management School
Downloads 327 (148,839)

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Optimal asset allocation, Real estate, Predictability, Parameter uncertainty

12.

Ownership Links, Leverage and Credit Risk

Number of pages: 41 Posted: 25 Mar 2008
Elisa Luciano and Giovanna Nicodano
University of Turin - Department of Statistics and Applied Mathematics and University of Turin - Department ESOMAS
Downloads 272 (180,394)
Citation 2

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credit risk, default risk, structural models, optimal leverage, zero leverage, ownership structure, parent-subsidiary

13.

Should Insider Trading be Prohibited when Share Repurchases are Allowed?

Downloads 236 (207,635)
Citation 2

Should Insider Trading be Prohibited when Share Repurchases are Allowed?

Number of pages: 32 Posted: 03 Mar 2007
Andrea M Buffa and Giovanna Nicodano
University of Colorado at Boulder - Leeds School of Business and University of Turin - Department ESOMAS
Downloads 236 (206,906)
Citation 2

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information trading, share repurchases, liquidity, disclosure

Should Insider Trading Be Prohibited When Share Repurchases are Allowed?

Review of Finance, Vol. 12, Issue 4, pp. 735-765, 2008
Posted: 27 Oct 2008
Andrea M Buffa and Giovanna Nicodano
University of Colorado at Boulder - Leeds School of Business and University of Turin - Department ESOMAS

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G18, G14, D82, K22

14.

Investing for the Long-Run in European Real Estate

Downloads 230 (212,860)

Investing for the Long-Run in European Real Estate

FRB of St. Louis Working Paper No. 2006-028A
Number of pages: 44 Posted: 04 May 2006
Carolina Fugazza, Giovanna Nicodano and Massimo Guidolin
University of Torino -Department of Economics ESOMAS, University of Turin - Department ESOMAS and University of Liverpool Management School
Downloads 230 (212,192)
Citation 8

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optimal asset allocation, real estate, predictability, parameter uncertainty

Investing for the Long-Run in European Real Estate

Journal of Real Estate Finance and Economics, Vol. 34, No. 1, 2007
Posted: 18 Aug 2006
Carolina Fugazza, Giovanna Nicodano and Massimo Guidolin
University of Torino -Department of Economics ESOMAS, University of Turin - Department ESOMAS and University of Liverpool Management School

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optimal asset allocation, real estate, predictability, parameter uncertainty

15.

Leverage and Value Creation in Holding-Subsidiary Structures

ECGI - Finance Working Paper No. 268/2009
Number of pages: 52 Posted: 09 Dec 2009 Last Revised: 18 Mar 2010
Elisa Luciano and Giovanna Nicodano
University of Turin - Department of Statistics and Applied Mathematics and University of Turin - Department ESOMAS
Downloads 221 (221,100)
Citation 1

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holding, subsidiary, groups, guarantees, debt, taxes, bankruptcy costs, limited liability, capital structure

16.

The Economic Value of Timing Higher Order (Co-)Moments in Bull and Bear Markets

Number of pages: 58 Posted: 28 Feb 2014
Massimo Guidolin and Giovanna Nicodano
University of Liverpool Management School and University of Turin - Department ESOMAS
Downloads 201 (241,298)

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equity market regimes, bull and bear states, return predictability, skewness and kurtosis, equity portfolio diversification.

17.

Managing International Portfolios With Small Capitalization Stocks

Number of pages: 48 Posted: 31 Aug 2007
Massimo Guidolin and Giovanna Nicodano
University of Liverpool Management School and University of Turin - Department ESOMAS
Downloads 168 (282,804)

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intertemporal portfolio choice, return predictability, co-skewness and co-kurtosis, international portfolio diversification

18.

Can Pension Funds Hedge Wage Risk?

Rotman International Journal of Pension Management, Vol. 2, No. 1, 2009
Number of pages: 8 Posted: 23 May 2009
Carolina Fugazza, Maela Giofré and Giovanna Nicodano
University of Torino -Department of Economics ESOMAS, University of Turin - Department of Economics and Statistics and University of Turin - Department ESOMAS
Downloads 145 (319,507)

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International Diversification, Labour Income, Pension Funds, Portfolio Choice, Rotman

19.

Survival and Conglomerate Value

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 600/2019
Number of pages: 59 Posted: 04 Mar 2019 Last Revised: 06 Jul 2022
Michela Altieri and Giovanna Nicodano
Luiss Guido Carli and University of Turin - Department ESOMAS
Downloads 135 (338,007)

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survivorship bias, default, coinsurance, contagion, conglomerate discount

20.

Diversifying in Public Real Estate: The Ex-Post Performance

Downloads 132 (343,870)

Diversifying in Public Real Estate: The Ex-Post Performance

Number of pages: 22 Posted: 16 Jan 2008
Carolina Fugazza, Giovanna Nicodano and Massimo Guidolin
University of Torino -Department of Economics ESOMAS, University of Turin - Department ESOMAS and University of Liverpool Management School
Downloads 132 (344,873)

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Optimal asset allocation, Real estate, Parameter uncertainty, Out-of-sample performance

Diversifying in Public Real Estate: The Ex-Post Performance

Journal of Asset Management, Forthcoming
Posted: 16 Jan 2008
Carolina Fugazza, Giovanna Nicodano and Massimo Guidolin
University of Torino -Department of Economics ESOMAS, University of Turin - Department ESOMAS and University of Liverpool Management School

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Optimal asset allocation; Real estate; Parameter uncertainty; Out-of-sample performance

21.

Optimal Life-Cycle Portfolios for Heterogeneous Workers

Downloads 128 (351,860)
Citation 9

Optimal Life-Cycle Portfolios for Heterogeneous Workers

Netspar Discussion Paper No. 06/2013-025
Number of pages: 46 Posted: 19 Aug 2013
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino - Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 81 (484,337)
Citation 5

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Life-cycle portfolio choice, background risk, age rule, investor heterogeneity, stock market participation

Optimal Life-Cycle Portfolios for Heterogeneous Workers

University of Milan Bicocca Department of Economics, Management and Statistics Working Paper No. 260
Number of pages: 38 Posted: 07 Dec 2013
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino - Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 47 (642,075)
Citation 2

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Life-cycle portfolio choice, background risk, age rule, investor heterogeneity

Optimal Life-Cycle Portfolios for Heterogeneous Workers

Forthcoming, Review of Finance © by Oxford University Press
Posted: 11 Aug 2013 Last Revised: 03 Jul 2017
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino -Department of Economics ESOMAS and University of Turin - Department ESOMAS

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Household portfolios include risky bonds, beyond stocks, respond to permanent labour income shocks

22.

Intercorporate Guarantees, Leverage and Taxes

Number of pages: 25 Posted: 16 Mar 2012
Giovanna Nicodano and Elisa Luciano
University of Turin - Department ESOMAS and University of Turin - Department of Statistics and Applied Mathematics
Downloads 108 (397,935)

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debt, taxes, bankruptcy costs, limited liability, capital structure, subsidiary, groups, mergers

23.

Hedging Labor Income Risk over the Life-Cycle

Proceedings of Paris December 2019 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 39 Posted: 29 Oct 2019
Fabio C. Bagliano, Raffaele Corvino, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino & CERP, University of Torino - Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 82 (475,953)
Citation 1

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24.

Life-Cycle Asset Allocation and Unemployment Risk

Netspar Discussion Paper No. 10/2015-079
Number of pages: 20 Posted: 08 Mar 2016
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino - Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 79 (486,344)

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Life-cycle portfolio choice, unemployment risk, human capital depreciation, age rule

25.

Life-cycle Investing with Personal Disaster Risk

Proceedings of Paris December 2020 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 35 Posted: 14 Oct 2020
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino - Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 62 (554,193)

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26.

Privatization and Stock Market Liquidity

Number of pages: 40 Posted: 27 Jul 2004
Bernardo Bortolotti, Frank De Jong, Giovanna Nicodano and Ibolya Schindele
Bocconi University, Tilburg University - Department of Finance, University of Turin - Department ESOMAS and Central European University
Downloads 36 (694,400)
Citation 1
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Privatization, financial market development, international finance

27.

Life-Cycle Risk-Taking with Personal Disaster Risk

Downloads 31 (728,495)

Life-Cycle Risk-Taking with Personal Disaster Risk

ESRB: Working Paper Series 2021/132
Number of pages: 50 Posted: 30 Dec 2021
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino -Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 23 (815,148)

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beta distribution, disability risk, disaster risk, non-linear income process, portfolio choice, unemployment risk

Life-Cycle Risk-Taking with Personal Disaster Risk

Number of pages: 62 Posted: 22 Feb 2023
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino -Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 8 (956,600)

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Life-cycle portfolio choice, disaster risk, beta distribution, non-linear income process, unemployment risk, disability risk

28.

Business Groups: Are They More Efficient than Conglomerates and Stand-Alone Units?

Number of pages: 28 Posted: 02 Oct 2015 Last Revised: 24 Nov 2020
Michela Altieri and Giovanna Nicodano
Luiss Guido Carli and University of Turin - Department ESOMAS
Downloads 19 (822,759)

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corporate limited liability, rescue, contagion, diversification discount, survivorship bias, parent company discount

29.

Life-Cycle Risk-Taking with Personal Disaster Risk

CEPR Discussion Paper No. DP16234
Number of pages: 51 Posted: 14 Jul 2021
Fabio C. Bagliano, Carolina Fugazza and Giovanna Nicodano
University of Turin - Department of Economics and Statistics, University of Torino -Department of Economics ESOMAS and University of Turin - Department ESOMAS
Downloads 0 (983,043)
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30.

Guarantees, Leverage, and Taxes

Forthcoming, Review of Financial Studies
Posted: 28 Feb 2014 Last Revised: 03 Jul 2017
Elisa Luciano and Giovanna Nicodano
University of Turin - Department of Statistics and Applied Mathematics and University of Turin - Department ESOMAS

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bailout, debt, bankruptcy costs, capital structure, groups, mergers, subsidiary, limited liability.

31.

Equally Weighted vs. Long-Run Optimal Portfolios

Forthcoming, European Financial Management
Posted: 28 Feb 2014
Giovanna Nicodano, Carolina Fugazza and Massimo Guidolin
University of Turin - Department ESOMAS, University of Torino - Department of Economics ESOMAS and University of Liverpool Management School

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asset allocation, return predictability, parameter uncertainty, REITs, portfolio performance

32.

Pyramidal Groups and Debt

European Economic Review, Forthcoming
Posted: 06 May 2006
Magda Bianco and Giovanna Nicodano
Bank of Italy and University of Turin - Department ESOMAS

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Other Papers (1)

Total Downloads: 24
Actions:
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1.

International Diversification and Labor Income Risk

EFA 2008 Athens Meetings Paper
Number of pages: 38 Posted: 06 Mar 2008 Last Revised: 18 Mar 2009
Carolina Fugazza, Maela Giofré and Giovanna Nicodano
University of Torino -Department of Economics ESOMAS, University of Turin - Department of Economics and Statistics and University of Turin - Department ESOMAS
Downloads 24

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optimal portfolio choice, labor income risk, industry-specific human capital, occupational pension funds