Investigación

Investigación en el GREF

Buscamos entender la compleja relación entre los mercados y las sociedades, desde múltiples perspectivas complementarias.  

Cabe destacar nuestro trabajo en materia de desigualdad y sus conexiones con el diseño del sistema educativo, la elección de vías alternativas al desarrollo o el diseño y la implementación de la política macroeconómica. De forma similar, en un trabajo reciente, estudiamos la velocidad óptima hacia la energía limpia, los incentivos de mercado y regulatorios para la inversión verde, así como la declaración de financiación conforme a criterios medioambientales, sociales y de gobierno (ESG) y la inversión verde. 

2023 y próximas a publicar

Path 4 Copy 5 Created with Sketch.

Alexander, A., Pilonato, S., & Redigolo, G. (2022). Do institutional donors value social media activity and engagement? Empirical evidence on Italian non-profit grantees. The British Accounting Review.
MÁS INFO

 

Andreou P., Anyfantaki S., Maasoumi E., Sala C. (2023) Extremal quantiles and stock price crashes.
MÁS INFO

 

Bali, T., Del Viva, L., El Hefnawy,M.,  Trigeorgis, L. (2023). Value Uncertainty. Management Science, forthcoming.
MÁS INFO

 

Bayona A., Dumitrescu A., Manzano C. (2023). Information and optimal trading strategies with dark pools. Economic Modelling.
MÁS INFO

 

Bouakez, H., Rachedi, O., & Santoro, E. (2023) The government spending multiplier in a multi-sector economy. American Economic Journal: Macroeconomics, 15(1): 209-39.
MÁS INFO

 

Dumitrescu A., Järvinen J., Zakriya M. (2023). Hidden Gem or Fool’s Gold: Can passive ESG ETFs outperform the benchmarks? International Review of Financial Analysis.
MÁS INFO

 

Dumitrescu A., Menkveld et al. Fincap. Non-Standard Errors. Journal of Finance. Forthcoming.

 

Forte, S., Lovreta, L. (2023). Credit Default Swaps, the Leverage Effect, and Cross-Sectional Predictability of Equity and Firm Asset Volatility. Journal of Corporate Finance, 79, 102347..
MÁS INFO

 

Jhunjhunwala T. Searching to avoid regret in charitable giving. Journal of the Economic Science Association. Forthcoming.

 

Kalemli-Ozcan S., Sorensen B., Villegas-Sanchez C., Volosovych V., Yesiltas S. How to Construct Nationally Representative Firm Level Data from the Orbis Global Database: New Facts on SMEs and Aggregate Implications for Industry Concentration. American Economic Journal: Macroeconomics. Forthcoming.

 

Mattei M., Platikanova P. Enhancing bank transparency: Financial reporting quality, fraudulent peers and social capital. Accounting & Finance. Forthcoming.
MÁS INFO

 

Mayordomo, S, Rachedi, O., Rodriguez-Moreno, M. (2022). Bank regulatory capital arbitrage: Evidence from housing overappraisals. Management Science.
MÁS INFO

 

Platikanova P. (2023). The Real Effects of Analyst Research Quality: Evidence from the Adoption of the Broker Protocol. Australian Accounting Review. Forthcoming.
MÁS INFO

2022

Path 4 Copy 5 Created with Sketch.

Ballabriga, F., & Davtyan, K. (2022). Distributional impact of monetary policy in the UK: from conventional to unconventional policy. Journal of Economic Policy Reform, 25(4): 435-450.
MÁS INFO

 

Bayona, A., López, Á. L., & Manganelli, A. G. (2022). Common ownership, corporate control and price competition. Journal of Economic Behavior & Organization, 200, 1066-1075.
MÁS INFO

 

Bayona, A., & Peia, O. (2022).Financial contagion and the wealth effect: An experimental study. Journal of Economic Behavior & Organization, forthcoming.
MÁS INFO

 

Bedford, D., Bisbe, J., & Sweeney, B. (2022). Enhancing external knowledge search: The influence of performance measurement system design on the absorptive capacity of top management teams. Technovation, 118, 102586.
MÁS INFO

 

Bedford, D., Bisbe, J., & Sweeney, B. (2022). The joint effects of performance measurement system design and TMT cognitive conflict on innovation ambidexterity. Management Accounting Research, 100805.
MÁS INFO

 

Bellini, F., Rroji, E., & Sala, C. (2022). Implicit quantiles and expectiles. Annals of Operations Research, 313,733–753.
MÁS INFO

 

Boesso, G., Cerbioni, F., Kumar, K., & Redigolo, G. (2022). Determinism vs. solidarism: the philanthropic approach of foundations. International Journal of Business Governance and Ethics, 16(3), 317-336.
MÁS INFO

 

Dávila, A. & Guasch, M. (2022) Managers’ Body Expansiveness, Investor Perceptions, and Firm Forecast Errors and Valuation. Journal of Accounting Research, forthcoming.
MÁS INFO

 

Dumitrescu, A., & Zakriya, M. (2022). Governance, information flow, and stock returns.Journal of Corporate Finance, 72, 102168.
MÁS INFO

 

Mayordomo, S. and Rachedi, O.(2022). The China syndrome affects banks: the credit supply channel of foreign import competition. Journal of Financial and Quantitative Analysis, 3114 - 314.
MÁS INFO

 

Moro, A., and Rachedi, O. (2022) The Changing Structure of Government Consumption Spending. International Economic Review, 63(3), 1293-1323.
MÁS INFO

2021

Path 4 Copy 5 Created with Sketch.

Del Viva, L., Kothari, S.P., Lambertides, N., Trigeorgis, L., (2021). Asymmetric return and the economic content of accruals. Management Science, 67(6).
MÁS INFO

Del Viva, L., Kasanen, E., Saunders, A., & Trigeorgis, L. (2021). Is bailout insurance and tail risk priced in bank equities? Journal of Financial Stability, 55, 100909.
MÁS INFO

Del Viva, L., Kasanen, E., Saunders, A., & Trigeorgis, L. (2021). US government TARP bailout and bank lottery behavior. Journal of Corporate Finance, 66, 101777.
MÁS INFO

Dumitrescu, A., & Zakriya, M. (2021). Stakeholders and the stock price crash risk: What matters in corporate social performance? Journal of Corporate Finance, 67, 101871.
MÁS INFO

Basso, H. S., & Rachedi, O. (2021). The young, the old, and the government: demographics and fiscal multipliers. American Economic Journal: Macroeconomics, 13(4): 110-141.
MÁS INFO

Díez, F. J., Fan, J., & Villegas-Sánchez, C. (2021). Global declining competition? Journal of International Economics, 132, 103492.
MÁS INFO

Fons-Rosen, C., Kalemli-Ozcan, S., Sørensen, B. E., Villegas-Sanchez, C., & Volosovych, V. (2021). Quantifying productivity gains from foreign investment. Journal of International Economics, 131, 103456.
MÁS INFO

2020

Path 4 Copy 5 Created with Sketch.

Bayona, A., Brandts, J., & Vives, X. (2020). Information frictions and market power: A laboratory study. Games and Economic Behavior, 122, 354-369.
MÁS INFO

Bermejo, V. J., Campa, J. M., Campos, R. G., & Zakriya, M. (2020). Do foreign stocks substitute for international diversification? European Financial Management, 26(5), 1191-1223.
MÁS INFO

Del Viva, L., & El Hefnawy, M. (2020). Financing decisions: The case of convertible bonds. International Review of Financial Analysis, 67, 101393.
MÁS INFO

Bali, T. G., Del Viva, L., Lambertides, N., & Trigeorgis, L. (2020). Growth options and related stock market anomalies: Profitability, distress, lotteryness, and volatility. Journal of Financial and Quantitative Analysis, 55(7), 2150-2180.
MÁS INFO

Caballé, J., & Dumitrescu, A. (2020). Disclosure of corporate tax reports, tax enforcement, and price information. Journal of Banking & Finance, 121, 105978.
MÁS INFO

Dumitrescu, A., El Hefnawy, M., & Zakriya, M. (2020). Golden geese or black sheep: Are stakeholders the saviors or saboteurs of financial distress? Finance Research Letters, 37, 101371.
MÁS INFO

Epure, M., & Guasch, M. (2020). Debt signaling and outside investors in early stage firms. Journal of Business Venturing, 35(2), 105929.
MÁS INFO

Soonawalla, K., & Platikanova, P. (2020). Who monitors opaque borrowers? Debt specialization, institutional ownership, and information opacity. Accounting and Finance, 60(2), 1864-1904.
MÁS INFO

Jia, W., Redigolo, G., Shu, S., & Zhao, J. (2020). Can social media distort price discovery? Evidence from merger rumors. Journal of Accounting and Economics, 70(1), 101334.
MÁS INFO

Barone-Adesi, G., Fusari, N., Mira, A., & Sala, C. (2020). Option market trading activity and the estimation of the pricing kernel: A Bayesian approach. Journal of Econometrics, 216(2), 430-449.
MÁS INFO

Sala, C., & Barone-Adesi, G. (2020). Sentiment lost: the effect of projecting the pricing kernel onto a smaller filtration set. Stochastic Analysis and Applications, 38(4), 686-707.
MÁS INFO

Meier, V., & Schiopu, I. (2020). Enrollment expansion and quality differentiation across higher education systems. Economic Modelling, 90, 43-53.
MÁS INFO

Molino A., & Sala C. (2021). Forecasting Value at Risk and Conditional Value at Risk using Option Market Data. Journal of Forecasting, 40(7): 1190-1213.
MÁS INFO

Publicaciones previas

Path 4 Copy 5 Created with Sketch.

2019 


Performance measurement systems as generators of cognitive conflict in ambidextrous firms Bedford, D., Bisbe, J. & Sweeney, M. (2019) Accounting, Organizations and Society, 72 (1), pp. 21-37.
MÁS INFO

Retained earnings, interest rates and lending relationship Dumitrescu, A. (2019) The B.E. Journal of Theoretical Economics, 1 (19), pp. 110-121.
MÁS INFO

Volatility discovery: Can the CDS market beat the equity options market? Forte, S. & Lovreta, L. (2019) Finance Research Letters, 28, pp. 107-111.
MÁS INFO

Competitive Pressure Widens the Gender Gap in Performance: Evidence from a Two-Stage Competition in Mathematics Iriberri, N., Rey-Biel, P. (2019) The Economic Journal, Vol 129(620), pp. 1863–1893.
MÁS INFO

Option‐Implied Risk Measures: An Empirical Examination on the S&P 500 Index Barone-Adesi, G.; Legnazzi, C.; Sala, C. (2019) International Journal of Finance and Economics, pp.1-20
MÁS INFO

Testing Market Efficiency with the Pricing Kernel Barone-Adesi, G.; Sala, C. (2019) European Journal of Finance, Vol 25,13, pp.1166-1193
MÁS INFO

The credit supply channel of foreign import competition. Mayordomo, S. and Rachedi, O. Journal of Financial and Quantitative Analysis, forthcoming.
MÁS INFO

WTI Crude Oil Option Implied VaR and CVaR: An Empirical Application Barone-Adesi, G.; Finta, M.A.; Legnazzi, C.; Sala, C. (2019) Journal of Forecasting, Vol 38, Issue 6, pp. 552-563
MÁS INFO

2018 


Dynamic fiscal competition: A political economy theory Arcalean, C. (2018) Journal of Public Economics, 164, p. 211 – 224
MÁS INFO

Silent financial interests and product innovation Bayona, A. & López, Á. (2018) Economics Letters, 170, p. 109 – 112
MÁS INFO

The social value of information with an endogenous public signal Bayona, A. (2018). Economic Theory, 66 (4), pp. 1059-1087.
MÁS INFO

Market frictions, investor sophistication, and persistence in mutual fund performance Dumitrescu, A. & Gil Bazo, J. (2018). Journal of Financial Markets, 40 (-), pp. 40-59.
MÁS INFO

2017 


International tax competition and the deficit bias Arcalean, C. (2017). Economic Inquiry, 55 (1), pp. 51-72.
MÁS INFO

Specialization, risk sharing and the Euro Ballabriga Clavería, F. & Villegas Sanchez, C. (2017) Journal of Common Market Studies, 55 (6), pp. 1380-1397.
MÁS INFO

Management control and trust in virtual settings: A case study of a virtual new product development team Bisbe, J. & Sivabalan, P. (2017). Management Accounting Research, 37 (December 2017), pp. 12-29.
MÁS INFO

Real options, idiosyncratic skewness, and diversification Del Viva, L., Kasanen, E. & Trigeorgis, L. (2017) Journal of Financial and Quantitative Analysis, 52 (1), pp. 215-241.
MÁS INFO

Debt maturity and tax avoidance Platikanova, P. (2017). European Accounting Review, 26 (1), pp. 97-124.
MÁS INFO

Do product market threats affect analyst forecast precision? Mattei, M. & Platikanova, P. (2017) Review of Accounting Studies, 22 (4), pp. 1628-1665.
MÁS INFO

Investor-legislators: Tax holiday for politically connected firms Platikanova, P. (2017) The British Accounting Review, 4 (49), pp. 380-398.
MÁS INFO

Stereotypes are Only a Threat when Beliefs are Reinforced. On the Sensitivity of Gender Differences in Performance under Competition to Information Provision Iriberri, N.; Rey-Biel, P. (2017) Journal of Economic Behavior and Organization, Vol 135, pp. 99-111
MÁS INFO

Capital allocation and productivity in South Europe Gopinath, G., Kalemli-Ozcan, Sebnem, Karabarbounis, L. & Villegas Sanchez, C.17). Quarterly Journal of Economics, 132 (4), pp. 1915-1967.
MÁS INFO