STEFANO CASELLI

STEFANO CASELLI
Full Professor
Department of Finance


Courses a.y. 2015/2016

10428 FINANZIAMENTI D'AZIENDA
10441 PRIVATE EQUITY & VENTURE CAPITAL
10962 PRIVATE EQUITY & LBOs
20131 INVESTMENT BANKING
20156 INTERNATIONAL FINANCE
20260 PRIVATE EQUITY AND VENTURE CAPITAL
20401 CEMS SEMINARY
30390 EQUITY AND VENTURE CAPITAL FINANCING


Biographical note

Born June 14th, 1969. Degree in Economics at Università di Genova. Ph.D in Financial Markets and Institutions, Università di Siena.


Academic CV

Stefano Caselli is Vice Rector for International Affiars and Full Professor of Banking and Finance at Department of Finance of Bocconi University in Milan, whereas is the Academic Director of MSc in Finance and the Academic Director for Bocconi University of CEMS-MIM (Master in International Management of Community of European Management School). He’s the Head of the start-up project of MISB Bocconi Mumbai International School of Business, the Indian branch of Bocconi University whereas is the Director of the PGPB, Post Graduate Program in Business. He’s member of the board of Directors of SDA Bocconi School of Management, whereas he has been the Director of Executive Education Custom Program for Banks and Financial Institutions from 2006 to 2012. He has been awarded with the Bocconi Teaching Award in 2005, 2006, 2008, 2009, 2010, 2011 and with Bocconi Research Award in 1997, 2004 and 2011.  He’s conducting research at domestic and international level developing several publications on private equity, SME’s and family business financing, corporate finance, corporate banking and banking strategy. He’s member of the scientific committee of: CER (Centro Europa Ricerche in Rome), ECMI (European Capital Market Institute in Bruxelles),  EVCA (European Private Equity and Venture Capital Association for PEREP Group in Bruxelles), ENTER (the research centre for entrepreneurship of Bocconi University) and CAREFIN (the research centre for financial innovation of Bocconi University). He’s serving as independent director in several boards of corporations and financial institutions. Moreover he has been supporting many companies and institutions as strategic consultant (among them, Borsa Italiana for Elite Project, ABI Associazione Bancaria Italiana, OCSE, Consob for the working group devoted to incentives for stock exchange).


Research areas

Private equity & venture capital; corporate banking; corporate finance; credit management; finance of small and medium-sized businesses and family businesses; leasing and structured finance.

 

 

 

 

 

 

 

 

 

 

 

 


Selected publications

International

Contracts and returns in Private Equity Investments (with E. Garcia Appendini and F. Ippolito). Journal of Financial Intermediation, forthcoming.

 

Are Small Family Firms Financially Sophisticated? (with A. Di Giuli and S. Gatti). Journal of Banking and Finance, Vol. 35, n.11, November 2011.

 

Private Equity and Venture Capital in Europe. Markets, Techniques and Deals (preface by Roy Smith), Elsevier, Burlington, MA USA, 2010.

 

Governance and Strategy within the financial system: tradition and innovation. Journal of Management and Governance, vol. 14, n.3, 2010.

 

Pricing Final Indemnification Payments to Private Sponsors in Project-Financed Public-Private Partnerships: An Application of Real Options Valuation (with S. Gatti and A. Marciante). Journal of Applied Corporate Finance, Volume 21, Issue 3, Summer 2009.

Offtaking Agreements and How They Impact the Cost of Funding for Project Finance Deals. A Clinical Study of The Quezon Power Ltd. Co (with S. Gatti and V. Bonetti). Review of Financial Economics, forthcoming.

 

Does the CFO Matter in Family Firms? Evidence from Italy, (with A. Di Giuli). European Journal of Finance, vol. 6, 2010.

 

Conference Calls and Volatility. Evidence from US High Tech Market, (with A. Dell’Acqua and F. Perrini). European Financial Management Journal, vol. 2, March, 2010.

 

Are Venture Capitalist a Catalyst for Innovation or Do They Simply Exploit It? (with S. Gatti, F. Perrini). European Financial Management Journal, n.1, 2009.

 

Risk management in Project Finance (with S. Gatti), in H.K. Baker, P. English (Editors) Capital Budgeting valuation: financial analysis for today’s evaluation project, John Wiley and Sons; New York, 2009.

 

The Sensitivity of Loss Given Default Rate to Systematic Risk: New Empirical Evidence on Bank Loans (with S. Gatti, F. Querci). Journal of Financial Services Research, n. 1 2008.

 

What Role Do Financial Institutions Play for Family Firms? A Picture from the Italian Market (with R. Giovannini). Journal of Corporate Ownership & Control, Volume 5, Issue 3, 2008.

 

Family Firms’ Performance and Agency Theory. What’s going on from the Italian market?, (with S. Gatti, A. Di Giuli). Icfai Journal of Corporate Governance, January 2008.

 

Corporate Venture Capital, Early-Stage Financing, Exit Strategy, Fund Raising, Incubator, in Gregoriou G.N., (Editor), Encyclopedia of Alternative Investment (Editorial board: C. Harvey, J. Lerner, A. Schoar, B. Fung, S. Irwin), Chapman Hall UK, London, 2008.

 

Can agency theory recommendations affect family firms’ performance? An evidence from the Italian market (with S. Gatti), Journal of Corporate Ownership & Control, Volume 4, Issue 3, 2007.

 

M&A risk management: A state-of-the-art review of tools and techniques, (with Gatti S, Visconti M.), Journal of Applied Corporate Finance, Volume 18, Number 4, Fall 2006.

 

Dependent or Independent? The Performance Contribution of Board Members in Italian Venture-Backed Firms, Journal of Corporate Ownership & Control, Volume 4, Issue 3, 2006.

 

Long-Run Venture-Backed IPO Performance Analysis of Italian Family-Owned Firms: What Role Do Closed-End Funds Play?, in Gregoriou G.N., Kooli M., Kraussl M. (Editors), Venture Capital: a European Perspective, Elsevier, 2006.

 

Structured Finance. Techniques, Products and market (Editor with S. Gatti), Springer Verlag, Berlin, New York, 2005.

 

The Competitive Models of Corporate Banking and the Relationship Towards SMEs, Small Business, Number 1, 2005.

 

Banking for Family Business. The New Challenge for Wealth Management, (Editor with S. Gatti), Springer, Verlag, Berlin, New York, 2004.

 

Venture Capital. A Euro-System Approach, (Editor with S. Gatti), Springer Verlag, Berlin, New York, 2004. Prefazione di J. Lerner, Harvard Business School.

 

Family Small and Medium-Sized Firms’ Finance and Their Relationship With The Banking System in Italy, Small Business, Number 1, 2001.


Domestic

Private Equity e Intervento Pubblico. Esperienze rilevanti e modelli di intervento per una nuova politica economica, (Editor con F.L. Sattin), Egea, Milano, 2011.

 

L’evoluzione del corporate banking nel rapporto fra banche e imprese, in Saggi in Onore di Tancredi Bianchi (M. Brogi, M. Comana), Bancaria Editrice, Roma, 2009.

 

La performance del private equity: quale contributo della corporate governance e dei consiglieri indipendenti?, in Economia e Diritto del Terziario, n. 3, 2008.

 

La gestione integrata asset-liability e la mappatura dei bisogni dell’imprenditore, in Manuale del Private Banking (P. Musile Tanzi), Egea, Milano, 2007.

 

Il corporate lending. Manuale della gestione del credito alle imprese: organizzazione, valutazione e contratti, II Edizione (con S. Gatti), Bancaria Editrice, Roma, 2006.

 

Miti e verità di Basilea 2. Guida alle decisioni II Edizione, (con G. De Laurentis), Egea, Milano, 2006.

 

Crescita aziendale e intermediari finanziari: opzioni di sviluppo e modelli di relazione, in Corbetta G. (Editor), Nati per crescere, Egea, Milano, 2005.

 

Il settore della finanza strutturata in Italia, (con S. Gatti), Bancaria Editrice, Roma, 2005.

 

Banking per il family business, (con S. Gatti), Bancaria Editrice, Roma, 2004.

 

PMI e sistema finanziario. Comportamento delle imprese e strategia delle banche, Egea, Milano, 2003.

 

Corporate Banking per le piccole e medie imprese. Il cambiamento delle strategie e dei processi gestionali della banca per lo sviluppo del rapporto con le PMI, Bancaria Editrice, Roma, 2001.