"The Value of Financial Intermediation: Evidence from Online Debt Crowdfunding" joint with Alberto Manconi, Nicola Pavanini and Haikun Zhu. January 2025.
Forthcoming. Journal of Financial Economics.
"The cross-section of stock returns around the world in the early twentieth century" joint with Joost Driessen and Lyndon Moore. (2025).
Review of Asset Pricing Studies. Vol. 15, n. 1, pp. 46–73
A summary of the paper is featured on Voxeu.org.
"Credit Provision and Stock Trading: Evidence from the South Sea Bubble" joint with Rik Frehen and Emiel Jerphanion. (2024).
Journal of Financial and Quantitative Analysis. Vol. 59 , n. 8, pp. 3708-3738
2020 European Finance Association Best Conference Paper Prize
A summary of the paper is featured on Voxeu.org.
Online appendix here
"Inflation and Investors' Behavior: Evidence from the German Hyperinflation" joint with Felix von Meyerinck and Nic Schaub. (2023).
Review of Financial Studies. Vol. 36, n. 12, pp. 5012–5045
2023 Best Paper Award Inquire Europe Spring Seminar
A summary of the paper is featured on Voxeu.org, and here a short video with the outline of the paper.
"Household Credit and Regulatory Arbitrage: Evidence from Online Marketplace Lending" joint with Alberto Manconi and Haikun Zhu. (2022).
Management Science. Vol. 69, n.10 , pp. 6271–6292
2018 International Workshop on Financial System Architecture and Stability Best Paper Award.
A summary of the paper is featured on FinReg blog.
"Value creating mergers – British bank consolidation, 1885-1925" joint with Narly Dwarkasing and Lyndon Moore. (2022)
Explorations in Economic History. Vol. 83, Article 101422.
"Household Inequality, Entrepreneurial Dynamism and Corporate Financing" joint with Mintra Dwarkasing and Steven Ongena. (2021).
Review of Financial Studies, Vol. 34, n. 5, pp. 2448–2507.
"Credit and Social Unrest: Evidence from 1930s China" joint with Alberto Manconi and Haikun Zhu. (2020).
Journal of Financial Economics, Vol. 138, n. 2, pp. 295-315.
2017 SFS Cavalcade Asia-Pacific Award for the Best Paper in Corporate Finance . A summary of the paper is featured on promarket.org.
"Changing Corporate Governance Norms: Evidence from Dual Class Shares in the U.K." joint with Mariassunta Giannetti. (2019).
Journal of Financial Intermediation, Vol. 37, n. 1, pp. 15-27.
"Banking Sector Deregulation, Bank-Firm Relationships and Corporate Leverage" joint with Steven Ongena. (2019).
Economic Journal. Vol. 129, n. 618, pp. 765-789.
A summary of the paper is featured on the LSE Business Review
"Nothing Special About Banks: Competition and Bank Lending in Britain, 1885-1925" joint with Narly Dwarkasing and Lyndon Moore. (2017).
Review of Financial Studies. Vol. 30, n. 10, pp. 3502-3537.
"Households Wealth Inequality, Entrepreneur's Financial Constraints and the Great Recession: Evidence from the Kauffman Firm Survey" joint with Mintra Dwarkasing and Steven Ongena.
Small Business Economics (Special Issue). Vol. 50, n. 3, pp. 533-543.
"The Economic Benefits of Political Connections in Late Victorian Britain" joint with Lyndon Moore. (2013).
Journal of Economic History. Vol. 73, n. 1, pp 142-176.
"How Insiders Traded before Rules” joint with Lyndon Moore. (2013).
Business History (Special Issue). Vol. 55, n.4, pp 562-581.
"Dividend Policies in an Unregulated Market: The London Stock Exchange, 1895-1905" joint with Lyndon Moore. (2011).
Review of Financial Studies. Vol. 24, n. 9, pp 2935-2973.
"Managers and (Secret) Social Networks: The Influence of the Freemasonry on Firm Performance". (2011).
Journal of the European Economic Association. Vol. 9, n. 6, pp. 1053-1081.
"Optimal Monetary Policy in a Sudden Stop" joint with Lawrence J. Christiano and Jorge Roldos. (2009).
Journal of Monetary Economics. Vol. 56, n. 4, pp. 582-595.
"Migration and Human Capital: Self Selection of Indentured Servants to the Americas" joint with Ran Abramitzky. (2006).
Journal of Economic History. Vol. 66, n. 4, pp. 882-905.
"Increasing Market Concentration in British Banking, 1885-1925” joint with Narly Dwarkasing and Lyndon Moore.
In A. Greif, L. Kiesling and J. V.C. Nye, eds Institutions, Innovation and Industrialization, Princeton University Press, Princeton and Oxford, 2015
"Glass-Steagal Act” in the Oxford Encyclopedia of Economic History. Ed. Joel Mokyr
"Malthusian Cycles" joint with Ran Abramitzky, in the Oxford Encyclopedia of Economic History. Ed. Joel Mokyr
"Seed and Seed Varieties" in the Oxford Encyclopedia of Economic History. Ed. Joel Mokyr
"Guggenheim Family" in the History of World Trade since 1450. Ed. John McCusker
"Public Expenditure and Agglomeration Processes". Economia Pubblica. March 2000. (In Italian)