Articles in Refereed Journals

"Survival and Value: the Conglomerate Case," with M. Altieri, European Financial Management, 2023

"Life-cycle welfare losses from rules-of-thumb asset allocation," with F. Bagliano and C.Fugazza, Economics Letters, 198(C), 2021

"A Trade-Off Theory of Ownership and Capital Structure", with L. Regis, Journal of Financial Economics, 131 (3), 715-735, 2019.

Life-Cycle Portfolios, Unemployment and Human Capital Loss”, with F. Bagliano and C. Fugazza, Journal of Macroeconomics, 60, 2019, 325-340.

"Guarantees, Debt and Taxes", with E. Luciano, 2014, Review of Financial Studies 27(9), 2736-2772.

"Projecting Pension Outcomes at Retirement - Towards an Industry Reporting standard", with K. de Vaan, D. Fano, H. Mens, 2015, Bankers Markets and Investors 134, 71-91.

"Equally Weighted versus Long Run Optimal Portfolios" with C. Fugazza and M. Guidolin, 2015, European Financial Management 21, 742-789.

"Optimal Life-Cycle Portfolios for Heterogeneous Workers", with F.C. Bagliano and C. Fugazza, 2014, Review of Finance 18,  2283-2323.

"International diversification and industry-related labor income risk, " with C. Fugazza and M. Giofrè, 2011, International Review of Economics and Finance 20(4), 764-783.

"A reply to Douglas Cumming's 'Review Essay: Public policy and the creation of active venture capital markets", with M. Da Rin and A. Sembenelli, 2011, Venture Capital 13, 95-98.

"Can Pension Funds Hedge Wage Risk?", with C. Fugazza and M. Giofrè, 2009, Rotman International Journal of Pension Management 2(1), 64-70.

"Time and Risk Diversification in Real Estate Investments: the Ex-Post Performance", with C. Fugazza and M. Guidolin, 2009, Real Estate Economics 37(3), 341-381

"Should Insider Trading Be Prohibited when Share Repurchases Are Allowed?", with A. Buffa,  2008, Review of Finance, 12(4), 735-765.

"Small Caps in International Equity Portfolios: The Effects of Variance Risk", with M. Guidolin, 2008, Annals of Finance 5(1), 15-48.

"Diversifying in Public Real Estate: the Ex-Post Performance" with C. Fugazza and M. Guidolin, 2008, Journal of Asset Management 8(6), 361-373.

"Investing for the Long-Run in European Real Estate", with C. Fugazza and M. Guidolin, 2007, Journal of Real Estate Finance and Economics 34(1), 35-80.

"Privatization and Stock Market Liquidity", with B. Bortolotti, F. de Jong, and I. Shindele, 2007, Journal of Banking and Finance 31(2), 297-316. 

"Public Policy and the Creation of Active Venture Capital Markets" with M. Da Rin and A. Sembenelli, 2006, Journal of Public Economics 90(8-9), 1699-1723.

"Pyramidal Groups and Debt", with M. Bianco, 2004, European Economic Review 50(4), 937-961.

"Private Benefits, Block Transaction Premiums and Ownership Structure" with A. Sembenelli, 2004, International Review of Financial Analysis 13(2), 227-244. 

"Insider Trading, Investment and Liquidity. A Welfare Analysis" with S. Bhattacharya, 2001, Journal of Finance 56(3), 1141-1155. 

"Business Groups, Dual Class Shares and the Value of the Voting Right", 1998, Journal of Banking and Finance 22(9), 1117-1137

"Public Information Supply, Speculation and the Pattern of Asset Returns", 1993, Rivista Internazionale di Scienze Economiche e Commerciali 4, 321-342.

"Insider Trading, Distribuzione del Reddito ed Efficienza del Mercato Azionario", 1990, Politica Economica 2.

"Tassazione dei Guadagni in Conto Capitale, Investimenti e Scelte Finanziarie", with R. Faini, 1989, Note di Economia e Finanza.

"Capital Structure and Investment: an Econometric Analysis", 1985, Giornale degli Economisti e Annali d'Economia, 179-207.

"Decisioni d'Investimento e di Finanziamento dell'Impresa: un'Integrazione Formale", 1985, Ricerche Economiche 3, 378-396.



Other Articles and Chapters in Collected Volumes

“Capitale di Rischio,” in “Italia: riprendere il filo della crescita,” 2022, Volume in Honour of S. Micossi, ed. by L. Paolazzi, Marsilio Editori Ricerche.

“Taxation, the Level Playing Field and Equity Markets,” 2019, in Allen, F., Faia, E, Haliassos, M., Langenbucher, K. (eds.), “Capital Market Union and Beyond,” MIT PRESS.

"Pension Funds, Life-Cycle Asset Allocation and Performance Evaluation", with F.C. Bagliano and C. Fugazza, mimeo 2009, forthcoming in P.Antolin and R.Heinz eds. Investment Performance of Privately Managed Pension Funds, OECD-World Bank.

"Economia e Finanza", Roma: Istituto dell'Enciclopedia Italiana, 2012, ISBN 9788812001293 Signed entries: Analisi, Asimmetria Informativa, Buyback, Chapter 11,Covip, Fondo Etico, Gruppo, Illiquidità, Insider trading, Leva, Prevedibilità, Thin Capitalization.

“A reply to Douglas Cumming’s 'Review Essay: Public policy and the creation of active venture capital markets” with M. Da Rin and A. Sembenelli, 2011, Venture Capital: 95-98.

"Credit Risk and Credit Assignments with Parent-Subsidiary Links", with E. Luciano, in Financial Risks: New Developments in Structured Products and Credit Derivatives, ed. by M. Jeanblanc and C. Gourieroux, Proceedings of the 1st International Financial Research Forum, Europlace Institute of Finance (EIF) Paris: Economica 2009.

"Managing Portfolios with Small Caps", with M. Guidolin, in 40 Anni di Attività dell'Ente Einaudi, Parte 1, 2006, Roma: Bancaria, 247-302.

"La ripartizione del rischio d'insolvenza nei gruppi d'imprese" (Bankruptcy, Limited Liability and Organizational Form), in M. Bagella (ed.) "Finanza e Crescita", Bologna: Il Mulino, 2004.

"Le scelte di portafoglio nel risparmio previdenziale" in "Quale modello previdenziale per una professione in evoluzione", Atti Convegno INARCASSA, luglio 2003, 179-186.

"Insider Trading, Investment and Welfare. A Perturbation Analysis", with S. Bhattacharya, in G. Chiesa (ed. by), Banking Competition and Risk Management , Roma: Bancaria Editrice, 1997.

"Investimenti, Efficienza ed Assetto del Mercato Azionario" (Stock Exchange Structure and the Efficient Allocation of Resources) in G. Zanetti (a cura di), Le Decisioni di investimento, Bologna: Il Mulino, 1999, 161-182.

"Karl Brunner, A Professional Biography", 1993, in Money and the Economy: Issues in Monetary Analysis, Cambridge: CUP, 327-350.

"Allan Harold Meltzer, A Professional Biography", 1993, in Money and the Economy: Issues in Monetary Analysis, Cambridge: CUP, 351-380.

"Tassazione dei Guadagni in Conto Capitale, Investimenti e Scelte Finanziarie", (Capital Gains Taxation, Investment and Financial Strategies) con R. Faini e S. Giannini, in V. Visco (a cura di) "Imposte e Prezzi Relativi", Milano: F. Angeli, 1993, 217-275.

"Imperfezioni del Mercato dei Capitali, Trasferimenti dello Stato e Domanda di Fattori Produttivi"(Capital Market Imperfections, Factor Demand and State Transfers), con R. Faini E F. Schiantarelli, in C. Milana (a cura di), "Processi di Accumulazione e Politica Industriale in Italia", Milano: F.Angeli, 1992.

"La disciplina dell'insider trading"(Insider trading regulation), in A. Porta (a cura di), "L'integrazione europea e la regolamentazione dei mercati finanziari", Milano: EGEA, 1992.

"Valutazioni ed analisi economiche dell'insider trading" (Economic Analysis and Appraisal of Insider Trading Practices), Etica degli Affari e delle Professioni, 4(4), 1991, 51-58.

"Investment, Profits and Financial Structure." European Investment Bank Papers (September 1986): 63-71.