PAOLO ANTONIO FULGHIERI
Curriculum Vitae – February 2021
Macon G. Patton
Distinguished Professor of Finance
Kenan-Flagler
Business School
4109 McColl
Building
University of
North Carolina
Chapel Hill, NC
27599
Phone: (919) 962-3202
E-mail: paolo_fulghieri
at unc dot edu
EDUCATION: Ph.D. Economics,
1987, University of Pennsylvania, Philadelphia, PA.
Laurea, 1981, Universita' Commerciale “Luigi Bocconi,”
Milano, Italy.
RESEARCH INTERESTS:
Corporate Finance.
Initial Public Offering. Entrepreneurial
Finance and Venture Capital. Financial
Intermediation. Security Design.
Uncertainty and
Contracting in Organizations, with David Dicks
SELECTED PUBLICATIONS:
Uncertainty,
Investor Sentiment, and Innovation, with David Dicks,
Review of
Financial Studies,
Vol. 34, n. 3, 1236–1279 (March 2021).
Asymmetric
Information and the Pecking (Dis)Order, with Diego García
and Dirk Hackbarth,
Review of Finance, Vol. 24, n. 5,
961-996 (September 2020).
Uncertainty Aversion and
Systemic Risk, with David Dicks,
Journal of
Political Economy,
Vol. 127, n.3, 1118-1155 (June 2019). Technical
Appendix
The Economics of
Solicited and Unsolicited Credit Ratings, with Gunter Strobl and Han Xia,
Review of
Financial Studies,
Vol. 27, n.2, 484-518 (February 2014).
Entrepreneurial Finance
and Innovation: An Introduction and Agenda for Future Research, with Thomas
Chemmanur,
Review of
Financial Studies,
Vol. 27, n. 1, 1-19 (January 2014), Special Issue introduction.
‘O Sole Mio. An Experimental Analysis
of Weather and Risk Attitudes in Financial Decisions, with Anna Bassi and
Riccardo Colacito,
Review of Financial Studies, Vol. 26, n.7, 1824-52 (July 2013).
Corporate Governance, Finance, and the
Real Sector, with Matti Suominen,
Journal of
Financial and Quantitative Analysis, Vol. 47, n.6, 1187-1214 (December 2012).
Mergers,
Spin-offs, and Employee Incentives, with Merih Sevilir,
Review of
Financial Studies,
Vol. 24, n.7, 2207-2241 (July 2011).
The Value of Bank Capital and the
Structure of the Banking Industry, with Franklin Allen and Hamid Mehran,
Review of
Financial Studies,
Vol. 24, n.4, 971-982 (April 2011), Special Issue Introduction.
Organization and Financing of
Innovation, and the Choice between Corporate and Independent Venture Capital,
with Merih Sevilir,
Journal of
Financial and Quantitative Analysis, Vol. 44, n.6, 1291-1321 (December 2009).
Size and Focus of a Venture
Capitalist’s Portfolio, with Merih Sevilir,
Review of
Financial Studies,
Vol 22, n. 11, 4643-4680 (November 2009).
Competition and Co-operation among Exchanges: A
Theory of Cross Listing and Endogenous Listing Standards, with Thomas
Chemmanur,
Journal of
Financial Economics,
Vol. 82, n. 2, 455-489 (November 2006).
Synergies and Internal Agency
Conflicts: The Double-Edged Sword of Mergers, with Laurie Hodrick,
Journal of
Economics and Management Strategy, Vol. 15, n. 3, 549-576 (Fall 2006).
Information Production, Dilution Costs, and
Optimal Security Design, with Dmitry Lukin,
Journal of
Financial Economics,
Vol. 61, n. 1, 3-41 (July 2001).
A Theory of the Going Public Decision, with
Thomas Chemmanur,
Review of
Financial Studies,
Vol. 12, n. 2, 249-279 (Summer 1999).
Why Include Warrants in New Equity Issues? A Theory of
Unit IPOs, with Thomas Chemmanur,
Journal of
Financial and Quantitative Analysis, Vol. 32, n. 1, 1-24 (January 1997).
Reputation, Renegotiation, and the Choice between Bank
Loans and Publicly Traded Debt, with Thomas Chemmanur,
Review of
Financial Studies,
Vol. 7, n. 3, 475-506 (Fall 1994).
Investment Bank Reputation, Information Production, and
Financial Intermediation, with Thomas Chemmanur,
Journal of Finance, Vol. 49, n. 1,
57-79 (March 1994).
Uncertain Liquidity and
Interbank Contracting, with Sudipto Bhattacharya,
Economics Letters, Vol. 44, n. 3,
287-94 (March 1994).
A Theory of the Distribution of Underpriced Initial Public
Offers by Investment Banks, with Matthew Spiegel,
Journal of
Economics and Management Strategy, Vol. 2, n. 4, 509-530 (Winter 1993).
Financial Contracts as Lasting Commitments: The Case of a
Leveraged Oligopoly, with S. Nagarajan,
Journal of
Financial Intermediation, Vol. 2, n. 1, 2-32 (March 1992).
Books, chapters in
books, and other publications:
Competition and Cooperation among Exchanges:
Effects on Corporate Cross-Listing Decisions and Listing Standards, with Thomas
Chemmanur and Jie He,
Journal of Applied Corporate Finance, Vol. 20, n. 3,
76-90 (Summer 2008).
The
Design of Debt Contracts, with Eitan Goldman,
in A. Thakor and
A. Boot (eds.), Handbook of Corporate
Finance, Vol 3: Financial Intermediation and Banking, North-Holland, 2008.
Articles in the
popular press:
Benefits of a Better Image,
with Thomas Chemmanur, Financial Times, Mastering
Financial Management, June 16, 2006