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Professor Marco Pagano

Professor of Economics, FacoltÓ di Economia
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Marco Pagano, Professor of Economics, FacoltÓ di Economia, UniversitÓ di Napoli Federico II
Founder member of the ECGI : ECGI Fellow (2002) :


Marco Pagano was born in 1956, holds a B.A. in Economics at Cambridge University (UK) and a Ph.D. in Economics at MIT. After teaching at the University of Naples, at Bocconi University and at the UniversitÓ di Salerno, he is now a Professor in the Economics Faculty at UniversitÓ di Napoli Federico II.

He is Co-Director of the Research Programme in Financial Economics of the Centre for Economic Policy Research and a member of the Council of the European Economic Association. He is a consultant to the Italian Treasury on the reform of security markets, and a member of the Treasury's commission for privatisations.

In 1997 he was awarded the BACOB European Prize for Economic and Financial Research, jointly with Ailsa R÷ell. Most of his work is in the area of financial economics, especially in the field of stock market microstructure, where he has investigated the relationship between stock market thinness, price volatility and liquidity; the differences between dealer and auction markets; and the competition between trading systems in European equity markets. Recently, his research interests have also included topics in banking and corporate finance.

He has also done research in macroeconomics, especially on saving behavior and on the relationships between financial markets and the macroeconomy. His publications have appeared in several journals, such as The American Economic Review, The Review of Economic Studies, The Quarterly Journal of Economics, The Journal of Finance, The Review of Financial Studies, the European Economic Review, and the Economic Journal.

Research Interests
Banking and corporate finance
Law and finance
Market microstructure

ECGI Working Papers (Click title for more details)
Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent ECGI Finance Working Paper 398/2014 December 2013
Financial Disclosure and Market Transparency with Costly Information Processing ECGI Finance Working Paper 340/2012 October 2012
Transparency, Tax Pressure and Access to Finance ECGI Finance Working Paper 332/2012 April 2012
Corporate Fraud, Governance and Auditing ECGI Finance Working Paper 237/2009 November 2008
Inheritance Law and Investment in Family Firms ECGI Finance Working Paper 222/2008 September 2008
Information Sharing and Credit: Firm-Level Evidence from Transition Countries ECGI Finance Working Paper 201/2008 April 2008
Shareholder Protection, Stock Market Development, and Politics ECGI Finance Working Paper 105/2005 November 2005
Managers, Workers, and Corporate Control ECGI Finance Working Paper 001/2002 October 2002 Winner of the 2005 Egon Zehnder International Prize (Best paper on company boards and their role in corporate governance)

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