Research
Working Papers
"Dynamic Equity Slope" (Reject & Resubmit, Journal of Financial Economics), with M. Breugem, R. Marfè, and F. Zucchi
"Housing Yields" (New Version), with R. Marfè and Q. Xiong
"Raising Household Leverage: Evidence from Co-Financed Mortgages", with M. Dal Borgo
"The Reverse Revolving Door in the Supervision of European Banks" (Revise & Resubmit, European Economic Review), with M. Koetter, A. Sclip, and K. Wagner
"Trading Away Incentives", with G. Curatola and S. Xia
"When Does Linking Pay to Default Reduce Bank Risk?" (New Paper), with G. Curatola and S. Xia
Work in Progress
"Banking Transformation, Bank Jobs, and Firms" (with G. Curatola, PRIN Grant)
Selected Published/Accepted Papers
"Compensation Regulation in Banking: Executive Director Behavior and Bank Performance after the EU Bonus Cap", with M. Koetter and K. Wagner, Journal of Accounting and Economics 76(1), 101576, 2023, Internet Appendix
(Media Mentions: The Telegraph, Les Echos, Bloomberg)
"Do Courts Matter for Firm Value? Evidence from the U.S. Court System", with C. Herpfer, Journal of Law and Economics 64(2), 403-438, 2021
(Non-Technical Summary at HLS Forum on Corporate Governance and Financial Regulation)
"Pricing Sin Stocks: Ethical Preference vs. Risk Aversion", with G. Curatola and A. Gioffré, European Economic Review 118, 69-100, 2019
"Shareholder Bargaining Power and the Emergence of Empty Creditors", with M. Efing and F. Zucchi, Journal of Financial Economics 134(2), 297-317, 2019, Internet Appendix
Other Published/Accepted Papers
"The Real Effects of Universal Banking: Does Access to the Public Debt Market Matter?", Journal of Financial Services Research 61, 77-110, 2022
"Benign Neglect of Covenant Violations: Blissful Banking or Ignorant Monitoring?", with M. Koetter and M. Stieglitz, Economic Inquiry 59(1), 459-477, 2021
"Executive Compensation, Macroeconomic Conditions, and Cash Flow Cyclicality", Finance Research Letters 37, 101372, 2020
"Executive Compensation and Labor Expenses", B.E. Journal of Economic Analysis & Policy 20(1), 20190258, 2019
"CEO Investment of Deferred Compensation Plans and Firm Performance", with D. Cambrea, G. Curatola, and G. Fantini, Journal of Business Finance & Accounting 46(7-8), 944-976, 2019, Online Appendix
"Direct and Indirect Risk-Taking Incentives of Inside Debt", with G. Curatola and G. Hoang, Journal of Corporate Finance 45, 428-466, 2017
Permanent Working Papers
"Internal Governance and Creditor Governance: Evidence from Credit Default Swaps"