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Professor Marco Pagano

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

Marco Pagano is Professor of Finance at the University of Naples Federico II, where he directs the Centre for Studies in Economics and Finance (CSEF), and President of the Einaudi Institute for Economics and Finance (EIEF). He holds a Ph.D. in Economics from MIT and a B.A. in Economics from Cambridge University. He has also been a professor at Bocconi University, the University of Salerno and Imperial College. From 1997 to 2005 he directed the Research Program in Financial Economics of the Centre for Economic Policy Research (CEPR), and from 2004 to 2011 he was the managing editor of the Review of Finance, together with Josef Zechner. His research spans the areas of market microstructure, corporate finance, banking, and financial regulation. He is also interested in the interactions between finance and macroeconomics, as well as between finance and labor. His work has been published in the JF, RFS, AER, ReStud, QJE and RAND, among others. In 2013 he published the book Market Liquidity: Theory, Evidence and Policy (

Research Interests
Banking and corporate finance
Labour and finance
Market microstructure

ECGI Working Papers (Click title for more details)
Employment and Wage Insurance within Firms: Worldwide Evidence ECGI Finance Working Paper 517/2017 July 2017
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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