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Alberto Alesina

outstanding Italian economist at Harvard

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Robert Barro

one of the best 10 macroeconomists in the world

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Jean Paul Fitoussi

brilliant French economist

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Jeremy Rifkin

futurist & environmental scientist

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Allen Sinai

financial markets: forecasts, analysis and monitoring

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Hal Varian

Google Chief Economist

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Robert Wescott

outstanding economist and financial advisor

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Luigi Zingales

outstanding financial economist

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La Nostra Mission

Introduzione delle migliori prassi internazionali di Management, Economia, Finanza.
Sviluppo di idee innovative, metodologie e strumenti di gestione per aiutare le imprese a sviluppare la propria cultura aziendale.
PAOLA SAPIENZA Stampa E-mail

 
PAOLA SAPIENZADonald C. Clark/HSBC Chair in Consumer Finance at the Kellogg School of Management, Northwestern University, Evanston, Illinois.

MAIN TOPICS :
Corporate finance, entrepreneurial finance and venture capital, corporate governance, impact of education on corporate innovation and entrepreneurship, the impact of culture on economic outcomes, including trust and social capital.
 

 

 
PPROFESSIONAL PROFILE:
Sapienza, born in Italy in 1965, is the Donald C. Clark/HSBC Chair in Consumer Finance at the Kellogg School of Management at Northwestern University where she teaches to MBA and Ph.D. students. She obtained her Ph.D. from Harvard in 1998. She is also a member of the National Bureau of Economic Research and the Center for Economic Policy Research. Professor Sapienza is also an independent board member of Assicurazioni Generali SpA, a publicly listed insurer, since April 2010. She is also a member of the investment and strategic committee and the related party transaction committee of Assicurazioni Generali. She was elected director of the American Finance Association in 2011 for a three year term. She serves on the board of the Academic Female Finance Committee (AFFECT) of the American Finance Association. Her work has been published in such journals as the American Economic Review, the Quarterly Journal of Economics, the Journal of Finance, the Journal of Financial Economics, and Science. She has been featured in the Thompson Reuter's list of most influential scientific minds in 2014, 2015, and 2016, and 2018. Professor Sapienza has been an Associate Editor at the Journal of Economic Her work has covered a variety of topics: banking and financial institutions, behavioural economics, behavioural finance, corporate finance and corporate governance, and gender economics.

EDUCATION:
Laurea summa cum laude in Economia Politica, Università Bocconi, Milan, 1989
M.A., Harvard University, Department of Economics, 1993
Ph.D., Harvard University, Department of Economics, 1998


SELECTED WORKS:

- Time Varying Risk Aversion, (with Luigi Guiso and Luigi Zingales), September 2017, forthcoming at the JFE.
- Monnet’s Error (with Luigi Guiso and Luigi Zingales), Economic Policy, 31 (86), 2016
- “Long Term Persistence,” with Luigi Guiso and Luigi Zingales. Forthcoming, Journal of European Economic Association, 2016.
- Corporate Culture, Societal Culture, and Institutions, with Luigi Guiso and Luigi Zingales, American Economic Review, P&P, May 2015
- “The Value of Corporate Culture” with Luigi Guiso and Luigi Zingales, Journal of Financial Economics, page 60-76, July 2015.
- How Stereotypes Impair Women’s Career in Science (with Ernesto Reuben and Luigi Zingales), Proceedings of the National Academy of Sciences, 2014, vol. 111, n.12, pp. 4403-4408.
- A Trust Crisis, (with Luigi Zingales), International Review of Finance. 12(2): 123-131, June 2012.
- The Determinants of Attitudes towards Strategic Default on Mortgages (with Luigi Guiso and Luigi Zingales), The Journal of Finance, Volume 68, Issue 4, pages 1473–1515, August 2013.
- “What Do Independent Directors Know? Evidence from Their Trading,” with Enrichetta Ravina, The Review of Financial Studies, Volume 23, Issue 3 March 2010
- Gender differences in financial risk aversion and career choices are affected by testosterone (with Dario Maestripieri and Luigi Zingales), August 25, 2009, Proceeding of the National Academy of Sciences.
- “Cultural Biases in Economic Exchange?,” (with Luigi Guiso and Luigi Zingales), The Quarterly Journal of Economics, 124(3), August 2009.
- “A Lobbying Approach to Evaluating Sarbanes-Oxley,” with Yael Hochberg and Annette Vissing-Jørgensen, Journal of Accounting Research, 47(2), pp. 519-583, May 2009.
- “The Stock Market and Corporate Investment: a Test of Catering Theory,” with Christopher Polk, The Review of Financial Studies, January 2009, 187-217.
- “Trusting the Stock Market,” with Luigi Guiso and Luigi Zingales, The Journal of Finance, December 2008, Volume 63(6), pp 2557-2600.
- “Culture, Gender, and Math,” with Luigi Guiso, Ferdinando Monte, and Luigi Zingales, Science, 30 May 2008, 320, 1164.
- “Does Culture Affect Economic Outcomes,” with Luigi Guiso and Luigi Zingales, Journal of Economic Perspectives, Spring 2006, vol. 20(2), pp. 23-48.
- "Does Local Financial Development Matter?” with Luigi Guiso and Luigi Zingales, Quarterly Journal of Economics, vol. 119 (3), August 2004, pp. 929-969.
- “The Effects of Government Ownership on Bank Lending,” Journal of Financial Economics, Vol. 72 (2), May 2004, pp. 357-384.
- “People’s Opium? Religion and Economic Attitudes,” with Luigi Guiso and Luigi Zingales, Journal of Monetary Economics, Vol. 50(1), January 2003, pp. 225-282
- “The Effects of Banking Mergers on Loan Contracts,” Journal of Finance, Vol. 57, No. 1 February 2002, pp. 329-368.