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Francesca Cornelli's Mug ShotProfessore of Finance, London Business School, London, UK

Main Topics: Corporate finance, mechanism design, industrial organization; transition economics, venture capital; privatization; stock market; bankrupt and contract theory

Professional Profile: Francesca Cornelli is Professor of Finance at the London Business School. She taught in several prestigious universities, among which the London School of Economics, the New Economic School in Moscow, the Wharton School, the University of Pennsylvania, and The Fuqua School of Business at Duke University.
She is a member of the Council of the European Economic Association and the Royal Economic Society, an associate editor of The Journal of Finance, a research affiliate of the Centre for Economic and Policy Research (CEPR), and a member of the Editorial Board of the Review of Economic Studies and of Economic Policy. She is also a fellow of the William Davidson Institute, at the University of Michigan Business School.
She has published several papers in major finance and economics journals.


  • Laurea in Economia, summa cum laude, Università Bocconi, Milan, 1987
  • Ph.D. in Economics, Harvard University, 1992



Selected Works:
  • F. Cornelli, Investor Sentiment and Pre-IPO Markets, with D. Goldreich and A. Ljungqvist Journal of Finance, 2005
  • F. Cornelli, Risk Arbitrage in Takeovers, with David D. Li, Review of Financial Studies, 2002
  • F. Cornelli, Patents Renewals and R&D Incentives, with M. Schankerman, RAND Journal of Economics, 1999
  • F. Cornelli, Large Shareholders, Control Benefits and Optimal Schemes for Privatization, with David D. Li, RAND Journal of Economics, 1997
  • F. Cornelli, Privatization in Eastern Europe: the Sale of Shares to Foreign Companies, in The Economics of Transformation: Theory and Practice in the New Market Economies, Alfred Schipke and Alan M. Taylor eds., 1993