Luigi Zingales
|
 |
 |
Saving Capitalism from Capitalists
with Raghuram G. Rajan INTRODUCTION Read a short presentation of the book. Visit SavingCapitalism.com for more information Visit Amazon.com to purchase book. |
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Education |
1988-1992 |
Massachusetts
Institute of Technology Ph.D. in Economics, 1992. Dissertation: "The Value of Corporate Control." |
Cambridge,
MA |
|
1982-1987 |
Universitá
Bocconi Bachelor in Economics (laurea), summa cum laude |
Milan,
ITALY |
|
| Experience |
2006
- present
|
University
of Chicago Graduate School of Business
|
Chicago,
IL |
2005-2006 |
Harvard University |
Cambridge, MA |
1992
-2005
|
University
of Chicago Graduate School of Business
|
Chicago,
IL |
Other Affiliations
1994 - present Faculty Research Fellow, National Bureau of Economic Research
1997 - present Research Fellow, Center for Economic Policy Research
2002 - present Fellow of the European Corporate Governance Institute
2005 - present Director of the American Finance Association
2006 - present Member of the United Nation Commission on Microfinance
2006 - present Member of the Committee on Capital Market Regulation
2006 - 2007 Member of the United Nation Commission on Microfinance
2007 - present Member of the Board and Chair of the Compensation Committee of Telecom Italia
2008 - present Member of the Global Council on Corporate Governance
Grants, Honors, and Fellowship
2008 Leo Melamed Prize for Research
2007 Jensen Prize for Corporate Finance and Organization (second prize)
2008-2009 Templeton Grant (2008-2009)
2006 - 2007 Templeton Grant (2006-2007)
2003 Fama-DFA Prize for Capital Markets and Asset Pricing
2003 Bernacer Prize for the best European young financial economist
2002 Nasdaq award for the best paper in capital formation
2000 Brattle Prize: Distinguished Paper Award for outstanding papers on corporate finance published in the Journal of Finance.
1995 - 1997 National Science Foundation Grant in Economics
1992 Selected by the Review of Economic Studies for the 1992 European
1990 - 1992 Istituto Bancario San Paolo graduate fellowship
1989 - 1990 MIT Department of Economics graduate fellowship
1988 - 1989 Istituto Nazionale Assicurazioni graduate fellowship
1988 Undergraduate thesis awarded prize from the Italian magazine Il Mondo
Major
Publications
Note: All articles are the sole copyright of the respective publishers. Materials are provided for educational use only.
"The
Value of the Voting Right: A Study of the Milan Stock Exchange Experience." Review of Financial Studies (1994), 7: 125-148.
"Insider
Ownership and the Decision to Go Public." Review of Economic
Studies (1995), 62: 425-448.
"What
Determines the Value of Corporate Votes?" Quarterly Journal
of Economics (1995), 110: 1047-1073.
"What
Do We Know about Capital Structure? Some Evidence From International
Data" (joint with R. Rajan). Journal of Finance (1995),
50: 1421-1460.
"Do
Investment-Cashflow Sensitivities Provide Useful Measures of Financing
Constraints?" (joint with S. Kaplan). Quarterly Journal of
Economics (1997)
"Why
Do Companies Go Public? An Empirical Analysis" (joint with M.
Pagano and F. Panetta). Journal of Finance, (1998), 53: 27-64.
"The
Survival of the Fittest or the Fattest: Exit and Financing in the
Trucking Industry." Journal of Finance, (1998), 53: 905-938.
"Financial
Dependence and Growth" (joint with R. Rajan). The American
Economic Review, (1998), 88: 559-586.
"Power
in a Theory of the Firm" (joint with R. Rajan). Quarterly
Journal of Economics, (1998), 113: 387-432.
"The
Cost of Diversity: Diversification Discount and Inefficient Investment,"
(joint with R. Rajan and H. Servaes). Journal of Finance (2000),55: 35-80.
"The
Tyranny of Inequality: An Inquiry into the Adverse Consequences
of Power Struggles" (joint with R. Rajan). Journal of Public
Economics (2000) 76: 521-558.
"Investment-cash
flow sensitivities are not valid measures of financing constraints"
(joint with S. Kaplan). Quarterly Journal of Economics (2000)
115: 707-712.
"In
Search of New Foundations," Journal of Finance (2000),
55: 1623- 1653.
"The
Influence of the Financial Revolution on the Nature of Firms"
(joint with R. Rajan) American Economic Review (2001), 91:
206-212.
"The
Firm as a Dedicated Hierarchy: A Theory of the Origins and Growth
of Firms" (joint with R. Rajan) Quarterly Journal of Economics (2001), 116: 805-852.
People's
Opium? Religion and Economic Attitudes (joint with Luigi Guiso
and Paola Sapienza) Journal of Monetary Economics, 50:225-282, 2003.
"The
Great Reversals: The Politics of Financial Development in the 20th
Century" (joint with R. Rajan) Journal of Financial Economics, Vol. 69 Issue 1, 5-50 , July 2003 .
"Private
Benefits of Control: An International Comparison" (joint with
A. Dyck), Journal of Finance (2004) 59: 537-600.
"Bureaucracy
as a Mechanism to Generate Information" (joint with W.Novaes), Rand Journal of Economics (2004).
"The Role of Social Capital in Financial Development"(joint with L. Guiso and P. Sapienza) The American Economic Review (2004) 94: 526-556.
" Does Local Financial Development Matter?" (joint with L. Guiso and P. Sapienza), Quarterly Journal of Economic, (2004) 119.
“Does Culture Affect Economic Outcomes?” (joint with L. Guiso and P. Sapienza), Journal of Economic Perspectives (2006) 20: 23-48.
"What Has Mattered to Economics Since 1970" (joint with Han Kim and Adair Morse) Journal of Economic Perspectives (2006): 20 4: 189-202.
“Theft and Taxes” (joint with M. Desai, and A. Dyck), Journal of Financial Economics, (2007).
“Culture, Gender, and Math” ” (joint with L. Guiso, F. Monte and P. Sapienza) Science 30 May 2008 Vol 320.
“The Corporate Governance Role of the Media: Evidence from Russia” (joint with A. Dyck and N. Volchkova) Journal of Finance, June 2008 .
“Social Capital as Good Culture” (joint with L. Guiso and P. Sapienza) Journal of the European Economic Association, 2008.
“Trusting the Stock Market” (joint with L. Guiso and P. Sapienza) Journal of Finance, forthcoming.
“Are Elite Universities Losing their Competitive Edge?” (joint with Han Kim and Adair Morse) Journal of Financial Economics, forthcoming.
“Cultural Biases in Economic Exchange?” (joint with L. Guiso and P. Sapienza) conditionally accepted at the Quarterly Journal of Economics.
Books
Savings
Capatilism from the Capitalists (joint with R. Rajan), Random
House, New York 2003
Other Publications
"The
Stock Market as a Source of Capital: Some Lessons from Initial Public
Offerings in Italy," (joint with M. Pagano and F. Panetta) European
Economic Review, 1996, 40: 1057-1069.
"Debt, Folklore,
and Financial Structure " (joint with R. Rajan) in Journal of
Applied Corporate Finance, Winter 1998, vol 10, no 4:102-108.
“Why it’s worth being in control, in George Bickerstaffe (ed.): The Complete Finance Companion (FT Pitman Publishing, London).
"Corporate
Governance," in The New Palgrave Dictionary of Economics
and the Law, P. Newman ed, Macmillan, New York, NY: 1998.
"Which
Capitalism? Lessons from the East Asian Crisis", (joint with
R. Rajan) Journal of Applied Corporate Finance, Fall 1998,
vol 11, no 3, 40-48.
"The
Eclipse of the U.S. Tire Industry," (joint with R. Rajan and
P. Volpin) in Mergers and Productivity, Steve N. Kaplan ed., University
of Chicago Press, (2000).
"Corporate Ownership
and the Decision to Go Public: Private versus Social Optimality,"
(joint with L. Bebchuk) in Concentrated Corporate Ownership,
Randall K. Morck ed., University of Chicago Press, (2000).
"The
Governance of the New Enterprise" (joint with R. Rajan) in Corporate
Governance X. Vives ed., p. 201-227, Cambridge University Press,
2000.
"Financial
Systems, Industrial Structure, and Growth " (joint with R. Rajan).
Financial Systems, Oxford Review of Economic Policy, 2001 17: 467-482.
"The
Corporate Governance Role of the Media" (joint with A. Dyck)
in R. Islam ed. The right to tell: The role of the Media in Development, The World Bank, Washington DC, 2002.
"The Bubble and
the Media" (joint with A. Dyck), in Cornelius, Peter and Kogut,
Bruce (eds.) Corporate Governance and Capital Flows in a Global
Economy, New York, Oxford University Press 2003.
"Banks
and Markets: The Changing Character of European Finance (joint
with R. Rajan), in European Central Bank 2nd Annual Conference, 2003.
"Commentary
on More Finance More Growth" in The Federal Reserve
of St. Louis Review, July/August 2003.
"The Road to Prosperity: Saving Capitalism from the Capitalists," (joint with R.Rajan) in Transition, 14:7-9, 1-3, 2003.
"Making Capitalism Work for Everyone," (joint with R.Rajan), in National Interest, December 2003.
"In God We Trust?" in La Recherche, Hors Serie 14 Janvier 2004: 56-60.
"Control Premiums and the Effectiveness of Corporate Governance Systems," (joint with A.Dyck) in the Journal of Applied Corporate Finance, Spring/Summer 2004, 51-72.
"Making Capitalism Work for Everyone," (joint with R.Rajan), in the Journal of Applied Corporate Finance, Fall 2004, 101-108.
“God and Mammon”in Global Agenda 2006, 228-229.
“Why Paulson is Wrong," The Economists' Voice (2008): Vol. 5: Iss. 5, Article 2.
“Plan B" The Economists' Voice (2008): Vol. 5: Iss. 5, Article 4.
Current Working Papers
“Paulson's Gift", joint with Pietro Veronesi, November 3, 2008.
“The Future of Security Regulation”.
"Who Blows the Whistle on Corporate Fraud," (joint with A. Dyck and A. Morse), October 2008.
“The Impact of Venture Capital on Innovation and the Creation of New Businesses” (joint with M. Mollica).
"Does Institutional Ownership Stifle or Promote Innovation? (joint with P. Aghion and J. van Reenen).
"Understanding Trust," (joint with P. Sapienza and A. Toldra), August 2007.
“Is Mistrust Self Fulfilling?” (joint with E. Ruben and P. Sapienza).
"Procrastination and Impatience" (joint with E. Ruben and P. Sapienza), January 2008.
"Long Term Persistence" (joint with L. Guiso and P. Sapienza).
"Social Capital as Good Culture" (joint with L. Guiso and P. Sapienza), December 2007.
“Gender, Testosterone, and Risk Aversion”(joint with D. Maestripieri, and P. Sapienza).
"Media vs. Special Interests," (joint with A.Dyck and D.Moss).
"Cultural Biases in Economic Exchange" (joint with L. Guiso and P. Sapienza), October 2008..
"Are Elite Universities Losing Their Competitive Edge?" (joint with E.H. Kim and A. Morse), April 2006.
"Financing Organizations" (joint with S.Myers and R.Rajan).
"The Media and Asset Prices", (joint with A. Dyck), August 2003.
Old Working Papers
"Media
and Asset Prices," (joint with A.Dyck), August 2003.
"Is the U.S. Capital Market Losing Its Competitive Edge?," November 2006.
"The Costs
of Banking Regulation" (joint with L.Guiso and P.Sapienza).
"What
Determines Firm Size?" (joint with K. Kumar and R. Rajan).
"Distribution and Efficiency
in Financial Restructuring: The Ferruzzi Group Case," (joint
with A. Penati).