MARCO BIGELLI EDUCATION 1995

MARCO BIGELLI
EDUCATION
1995
:
1992-1993
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1985-1990
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1980-1985
:
Phd in “Financial Markets and Intermediaries”,
University of Bergamo
Visiting phd student in the finance Phd program at the
University of Alberta, Edmonton., Canada.
Degree in Economic Sciences with full marks and
honors at the University of Ancona
Scientific Secondary School
ACADEMIC CAREER
2008- date
:
2012- date
2010- 2013
2005- 2013
2004- 2005
:
:
:
:
2004- 2007
:
2000- 2002
:
1997-1999
:
1995-1997
:
Full Professor of Corporate Finance at the University of
Bologna. Corse toughts: Corporate Governance (in
English) and Corporate Finance. Visiting Professor at the University of Lugano
Visiting Professor at the Universitè of Strathclyde (UK)
Visiting Professor at the Universitè de Paris XII
Adjunct Professor of Corporate Finance at the Jhons Hopkins University, Bologna Center.
Full Professor in Corporate Finance at the University of Bologna, Faculty of Political Science. Associate Professor in Corporate Finance at the University of Bologna, Faculty of Economics
Assistant Professor in Corporate Finance at the University
of Bologna, Faculty of Economics.
Jean Monnet Professor in “Economy and Finance of the
European Community” at the Faculty of Political Sciences,
University of Bologna.
LANGUAGES
Italian
English
French
:
:
:
Mother tongue
Fluent
Basic
MAJOR PROFESSIONAL EXPERIENCE
2012- 2014
2011-date
2010-2013
: President of the Law 231 Board in Banca di Bologna
: Member of the board of Banca di Bologna.
: Member of the board of Finanziaria Bologna Metropolitana,
one of the major companies controlled by Bologna’s City
Hall.
1999-2003
1991-1992
1995
1991
: Founder of www.borse.it, second Italianfinancial web site
after Il Sole 24 Ore in 2001 (AC-Nielsen), winner of the
WWW award as best Italian financial web site in 2003.
: Assistant Vice President at the Corporate Finance
Department of IMI BANK LUX S.A. in Luxembourg
: Qualification as Auditor
: Qualification as Chartered Accountant
TEACHING AWARDS
2014
:
2013
:
2012
:
2011
:
2008
:
Best Teacher Award at Bologna Business School for the
Executive MBA program
Best Teacher Award at Alma Graduate School (now
Bologna Business School) for the Executive MBA
program
Best Teacher Award at Alma Graduate School (now
Bologna Business School) for the Executive MBA
program
Best Teacher Award at Alma Graduate School (now
Bologna Business School) for the International MBA
programs
Best Overall Teacher Award at Alma Graduate School
(now Bologna Business School) EDITORIAL ACTIVITY
2000-date
: Referee for: Journal of Banking and Finance, European
Financial Management Journal, Journal of Empirical Finance,
The Financial Review, Small Business, Economics, Journal of
Management Studies; Journal of Economics and Business,
Corporate Governance-An International Review, Journal of
Management and Governance, Economia Politica, Rivista di
Politica Economica.
2006
: Co-author together with Prof. Sandro Sandri, of the Italian 2006
version of Brealey R.A., F. Allen and S. C. Myers, Principle of
Corporate Finance, McGraw-Hill.
2003
: Co-author together with Prof. Sandro Sandri, of the Italian 2003
version of Brealey R.A., S. C. Myers, Principle of Corporate
Finance, McGraw-Hill.
1999
: Member of the Board of the European Financial Management
Association
1998
: Collaboration in writing the Italian parts of: Brealey R.A., S. C.
Myers, S. Sandri (1999), Principi di Finanza Aziendale,
McGraw-Hill Italia, Milano.
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1991- 1992
: Translation for McGraw-Hill Italia srl of: R. J. Fuller, J. L. Farrell
(1987), "Modern Investments and Security Analysis" - McGrawHill Inc.
RESEARCH GRANTS ACHIEVED
2009-2011
:
2006-2008
:
2004-2006
:
2000-2002
Winner of an Italian National Interest Research Grant (€30.000)
on “Minority shareholders’ protection in going to private
transactions”. Total grant €150.000 (with Università Cattolica of
Milan, Università of Bozen and Università of Genova.
Winner of an Italian National Interest Research Grant, (€28,000)
on a project on “Dual Class Unifications and Shareholders'
Expropriations”
Winner of an Italian National Interest Research Project Grant,
(€38,000), on “The Italian Internal Dealing code and
Board’s behaviour in Italian listed companies” in collaboroation
with Politecnico Milan.
Winner of an Italian National Interest Research Project Grant,
(€60,000) on Corporate governance of Italian listed companies
and controlling group’s behaviour”.
OTHER ACADEMIC AND SCIENTIFIC ACTIVITIES
2011-date
:
2001-2013
:
2004-date
:
2010-2013
:
2006
:
2002-2005
:
Director of the Master of Science in International
Management (in English)
Member of the scientific board of the phd program in
“Financial markets and intermediaries”, Università
Cattolica di Milano.
Member of the scientific board of the French Finance
Association Conference
Member of the scientific committee of the International
Risk Management Conference
Organizer of the second Italian conference on Corporate
Governance, Bologna 2006.
Member of the board of the Department of Management,
University of Bologna.
EXAMINERSHIPS
2012
:
2007
:
2007
:
2007
:
External examiner for 1 doctoral student, University of
Leeds, UK
Internal Phd examiner for 3 doctoral students, Università
Cattolica, Milan.
External examiner for 6 doctoral students, University of
Leeds, UK
External examiner for 1 doctoral student, Uppsala
University, Sweden.
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PAPERS PRESENTED AT INTERNATIONAL CONFERENCES
2012
2011
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:
2011
2009
:
:
2008
:
2007
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2007
:
2006
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2006
:
2005
:
2004
2004
:
:
1999
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1999
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1999
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1998
:
1997
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1997
:
1996
:
1996
:
Eastern Finance Association, Boston, United States.
European Financial Management Association, Braga,
Portugal.
Financial Management Association, Porto, Portugal.
American Finance Association, San Francisco, United
States.
Financial Management Association, Prague, Check
Republic.
EFMA symposium on “Corporate Governance and
Shareholder Activism”, Milano, Itay.
French Finance Association Conference, Bordeaux,
France.
European Financial Management Association, Madrid,
Spain.
Financial
Management
Association,
Stochholm,
Stockholm, Sweden.
European Financial Management Association, Milano,
Italy.
French Finance Association Conference, Paris, France.
Northern Finance Association Conference, St. John’s,
Newfoundland, Canada.
Australasian Finance and Banking Conference, Sydney,
Australia.
European Financial Management Conference, Parigi,
Francia
European Finance Association Conference, Helsinki,
Finlandia.
“Raising Capital in Different Capital Markets”, Frankfurt,
Germany.
Relatore alla French Finance Association Conference,
Grenoble, Francia.
European Financial Management Conference, Instambul,
Turchia.
Northern Finance Association Conference, Quebec City,
Quebec, Canada.
European Finance Association Conference, Oslo,
Norway..
PUBLICATION HISTORY
Articles in international journals
2014
2013
Bigelli M. F. M. Ugedo, F.J. Sànchez Vidal, “Financial Conservatism
of Private Firms”, forthcoming on Journal of Business Research.
Bigelli M., E. Croci, “Dividend Privileges, Measurement Errors,
and the Value of Voting Rights: Evidence from Italy”, Journal of
Empirical Finance 24, 94-107.
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2013
2012
2011
2011
Bajo E., Barbi M., Bigelli M and D. Hillier, “The role of institutional
investors
in
controlling
shareholder
public-to-private
transactions”, Journal of Banking and Finance 37, 4327-4336.
Bigelli M. and J Sanchez Vidal, 2011, “Cash Holdings in private
firms”, Journal of Banking and Finance 36, 26-35.
Olgiati P. Bajo E., Bigelli M., De Ronchi D., and A. Serretti, 2011, “Should pharmacogenetics be incorporated in major depression treatment? Economic valuation in high-‐ and middle-‐income European countries”, Progress in Neuro-‐
Psychoparmacology &Biological Psychiatry 36, 147-‐154. Bigelli M., V. Mehrotra and R. Rau, 2011, “Why are shareholders
not paid to give up their voting privileges? Unique evidence from
Italy”, Journal of Corporate Finance 17, 1619-1635.
2011
Bigelli M. and S. Mengoli, 2011, Self-expropriations versus selfinterests in dual class voting”, Financial Management 40, 677-699.
2011
Serretti A., Olgiati P., Bajo E., Bigelli M., and D. De Ronchi, 2011, A model to incorporate genetic testing (5-‐HTTLPR) in
pharmacological treatment of major depressive disorders, The World Journal of Biological Psychiatry 12, 501–515.
Bigelli M., E. Bajo, D. Hillier and B. Petracci, 2009, “The
determinants of Regulatory Compliance: An Analysis of Insider
Trading Disclosures in Italy”, Journal of Business Ethics 90, 331343.
Serretti A., Bajo E., Bigelli M. et al., 2009, “The socio-economical
burden of schizophrenia: A simulation of cost-offset of early
intervention program in Italy”, European Psychiatry 24, 11-16
Bigelli M. and G. Ghini (2005), “Eastward Enlargement:
privatization in MEEC”, Journal of Corporate Ownership and
Control, Volume 2, Issue 4, 32-40.
Bigelli M. and S. Mengoli, 2004, “Sub-Optimal Acquisition
Decisions under a Majority Shareholder System”, Journal of
Management and Governance 8, 373-405.
Bigelli M. and M. Malagoli, 1999, “The Market Reaction to Belgian
Rights Offerings”, La Revue de la Banque n. 4, 115-121.
Bigelli M., V. Mehrotra, R. Morck and W. Yu “Changes in
Management Ownership and the Valuation Effects of Equity
Offerings”, Journal of Management and Governance 4, 297-308.
Bigelli M., 1998, “The Quasi-Split Effect, Active Insiders and the
Positive Abnormal Returns in European Equity Rights Issues:
Evidence from Italy”, European Financial Management Journal 4,
186-206.
Bajo E., M. Bigelli and S. Sandri, “The stock market reaction to
investments decisions: evidence from Italy”, Journal of Management
and Governance 2, 1-16.
2009
2009
2005
2004
1999
1999
1998
1998
International Book chapters
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2009
Bigelli M., M. Barbi and S. Mengoli, “Italian Corporate
Governance”, in “The Handbook of International Corporate
Governance: A Definitive Guide”, 2nd edition May 2009, The Institute
of Directors, Kogan Page, London. Italian Books
2003
1996
Bigelli M., 2003, Le azioni di risparmio –Un’analisi economica e gli
effetti sulla governance dell’impresa, Collana ricerche, Il Mulino,
Bologna.
Bigelli M., 1996, Gli aumenti di capitale delle società quotate Un'analisi economico-finanziaria - G. Giappichelli Editore, Torino.
Italian Book chapters
2007
2007
2003
2001
1999
1996
1994
“L’internal dealing: una prima verifica empirica sul mercato
italiano”, with Bajo E. e B. Petracci, in Cafferata R. (2007), Finanza e
Industria in Italia – Ripensare la corporate governance e i rapporti tra
banche, imprese e risparmiatori per lo sviluppo della competitività -”,
Il Mulino, Bologna, pag. 189-200.
“La Finanza” in Lipparini A (2007), Economia e Gestione delle
Imprese, Il Mulino, Bologna, Chapter 10, pag. 369-401
“Prime riflessioni sul finanziamento allo sviluppo delle imprese
cooperative alla luce della recente riforma sul Diritto Societario”,
in Boari C. (2003), L’impresa tra vent’anni –Stakeholders, strategie e
risorse per la creazione del valore-, Carocci editore.
"Le valutazioni delle decisioni di investimento" in A. Baroncelli
(2001), Percorsi imprenditoriali generati nell’Università - Il fenomeno
degli "spin-off accademici -", pag.215-225, Edizioni Clueb, Bologna.
“La gestione del capitale di rischio e la corporate governance”, in
Cattaneo M. (1998), “Manuale di finanza aziendale”, Il Mulino,
Bologna, Chapter 23.
“Verso nuovi modelli di finanziamento delle imprese: l’evoluzione
delle strutture finanziarie e l’importanza della diversificazione
delle fonti di finanziamento”, in Corigliano R. (1996), “Mercati
creditizi e finanziari locali: nuove opportunità per lo sviluppo
economico e la crescita delle imprese”, Fondazione Cassa di
Risparmio di Rimini, Tipografia Ramberti, Rimini, 1996.
"Le soluzioni al problema di agenzia: il mercato, i sistemi interni di
controllo e gli investitori attivi", in
Corigliano R. (1994),
Intermediazione finanziaria e mercato delle imprese, Editrice Clueb,
Bologna (with Sandro Sandri).
Articles on Italian journals
2005
2004
“I Nuovi strumenti finanziari delle società cooperative: verso il
mercato dei capitali?”, Le Società 7, 852-859 (with Roberto Genco).
“Le privatizzazioni dei paesi europei entrati nell’Unione Europea”,
Analisi Finanziaria 56.
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2003
2001
2000
1999
1999
1996
1994
1994
1991
“Le azioni di risparmio e gli errori di misurazione del premio per il
diritto di voto”, Banca, Impresa e Società 22, 67-96 (with Elena
Sapienza).
"I fattori determinanti la struttura finanziaria delle imprese
italiane: Una verifica empirica sulle società quotate", Finanza,
Marketing e Produzione n. 3 e 4 (seconda parte), 2001 (with Stefano
Mengoli e Sandro Sandri).
"L'acquisto di azioni proprie: uno studio sul mercato finanziario
italiano nel periodo 1988-1998”, Bancha, Impresa e Società 19, N. 2, pag. 213-‐234 (with Roberto Arosio and Stefano Paleari).
"La Corporate Governance in Italia", Focus, n. 3, with Sandro
Sandri.
“Acquisizioni di imprese e benefici privati dei gruppi di controllo:
una verifica empirica per il mercato italiano”, Finanza, Marketing e
Produzione, n.1 (with Stefano Mengoli)
"Aumenti di capitale con diritto di opzione: evidenze empiriche per
il mercato italiano", in Il Risparmio, n. 3.
"Aumenti di capitale combinati e trasferimenti di ricchezza fra
diverse categorie di azionisti: una verifica empirica per il mercato
italiano", in Finanza, Imprese e Mercati, n. 2 (with Danilo Rinaldi).
"I benefici dell'hedging", in Analisi Finanziaria, n. 13.
"L'analisi fondamentale dei titoli azionari", in Analisi Finanziaria,
n° 4.
SPORT
2003-date
:
Member of the University of Bologna tennis team
I authorize to use my personal data according to Law 196/03.
Marco Bigelli
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