Recerca

Recerca al GREF

Busquem entendre la relació complexa entre els mercats i les societats, des de múltiples perspectives complementàries.  

Cal destacar la nostra labor en matèria de desigualtat i les seves connexions amb el disseny del sistema educatiu, l’elecció de vies alternatives al desenvolupament o el disseny i la implementació de la política macroeconòmica. Així mateix, en un treball recent, hem estudiat la velocitat òptima de la transició cap a l’energia neta, els incentius de mercat i de la normativa per a la inversió verda, i la declaració financera d’acord amb criteris mediambientals, socials i de govern (ESG) i la inversió verda. 

2023 i properes a publicar

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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.
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Andreou P., Anyfantaki S., Maasoumi E., Sala C. (2023) Extremal quantiles and stock price crashes.
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Bali, T., Del Viva, L., El Hefnawy,M.,  Trigeorgis, L. (2023). Value Uncertainty. Management Science, forthcoming.
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Bayona A., Dumitrescu A., Manzano C. (2023). Information and optimal trading strategies with dark pools. Economic Modelling.
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Bouakez, H., Rachedi, O., & Santoro, E. (2023) The government spending multiplier in a multi-sector economy. American Economic Journal: Macroeconomics, 15(1): 209-39.
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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.
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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.
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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.
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Mayordomo, S, Rachedi, O., Rodriguez-Moreno, M. (2022). Bank regulatory capital arbitrage: Evidence from housing overappraisals. Management Science.
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Platikanova P. (2023). The Real Effects of Analyst Research Quality: Evidence from the Adoption of the Broker Protocol. Australian Accounting Review. Forthcoming.
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2022

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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. 
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Bayona, A., López, Á. L., & Manganelli, A. G. (2022). Common ownership, corporate control and price competition. Journal of Economic Behavior & Organization, 200, 1066-1075.
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Bayona, A., & Peia, O. (2022).Financial contagion and the wealth effect: An experimental study. Journal of Economic Behavior & Organization, forthcoming.
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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.
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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.
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Bellini, F., Rroji, E., & Sala, C. (2022). Implicit quantiles and expectiles. Annals of Operations Research, 313,733–753.
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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.
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Dávila, A. & Guasch, M. (2022) Managers’ Body Expansiveness, Investor Perceptions, and Firm Forecast Errors and Valuation. Journal of Accounting Research, forthcoming.
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Dumitrescu, A., & Zakriya, M. (2022). Governance, information flow, and stock returns.Journal of Corporate Finance, 72, 102168.
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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.
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Moro, A., and Rachedi, O. (2022) The Changing Structure of Government Consumption Spending. International Economic Review, 63(3), 1293-1323.
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2021

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Del Viva, L., Kothari, S.P., Lambertides, N., Trigeorgis, L., (2021). Asymmetric return and the economic content of accruals. Management Science, 67(6).
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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.
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Del Viva, L., Kasanen, E., Saunders, A., & Trigeorgis, L. (2021). US government TARP bailout and bank lottery behavior. Journal of Corporate Finance, 66, 101777.
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Dumitrescu, A., & Zakriya, M. (2021). Stakeholders and the stock price crash risk: What matters in corporate social performance? Journal of Corporate Finance, 67, 101871.
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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.
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Díez, F. J., Fan, J., & Villegas-Sánchez, C. (2021). Global declining competition? Journal of International Economics, 132, 103492.
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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.
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2020

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Bayona, A., Brandts, J., & Vives, X. (2020). Information frictions and market power: A laboratory study. Games and Economic Behavior, 122, 354-369.
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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.
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Del Viva, L., & El Hefnawy, M. (2020). Financing decisions: The case of convertible bonds. International Review of Financial Analysis, 67, 101393.
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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.
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Caballé, J., & Dumitrescu, A. (2020). Disclosure of corporate tax reports, tax enforcement, and price information. Journal of Banking & Finance, 121, 105978.
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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.
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Epure, M., & Guasch, M. (2020). Debt signaling and outside investors in early stage firms. Journal of Business Venturing, 35(2), 105929.
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Soonawalla, K., & Platikanova, P. (2020). Who monitors opaque borrowers? Debt specialization, institutional ownership, and information opacity. Accounting and Finance, 60(2), 1864-1904.
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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.
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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.
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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.
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Meier, V., & Schiopu, I. (2020). Enrollment expansion and quality differentiation across higher education systems. Economic Modelling, 90, 43-53.
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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.
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Publicacions prèvies

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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.
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Retained earnings, interest rates and lending relationship Dumitrescu, A. (2019) The B.E. Journal of Theoretical Economics, 1 (19), pp. 110-121.
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Volatility discovery: Can the CDS market beat the equity options market? Forte, S. & Lovreta, L. (2019) Finance Research Letters, 28, pp. 107-111.
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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.
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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
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Testing Market Efficiency with the Pricing Kernel Barone-Adesi, G.; Sala, C. (2019) European Journal of Finance, Vol 25,13, pp.1166-1193
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The credit supply channel of foreign import competition. Mayordomo, S. and Rachedi, O. Journal of Financial and Quantitative Analysis, forthcoming.
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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
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2018 


Dynamic fiscal competition: A political economy theory Arcalean, C. (2018) Journal of Public Economics, 164, p. 211 – 224
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Silent financial interests and product innovation Bayona, A. & López, Á. (2018) Economics Letters, 170, p. 109 – 112
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The social value of information with an endogenous public signal Bayona, A. (2018). Economic Theory, 66 (4), pp. 1059-1087.
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Market frictions, investor sophistication, and persistence in mutual fund performance Dumitrescu, A. & Gil Bazo, J. (2018). Journal of Financial Markets, 40 (-), pp. 40-59.
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2017 


International tax competition and the deficit bias Arcalean, C. (2017). Economic Inquiry, 55 (1), pp. 51-72.
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Specialization, risk sharing and the Euro Ballabriga Clavería, F. & Villegas Sanchez, C. (2017) Journal of Common Market Studies, 55 (6), pp. 1380-1397.
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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.
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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.
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Debt maturity and tax avoidance Platikanova, P. (2017). European Accounting Review, 26 (1), pp. 97-124.
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Do product market threats affect analyst forecast precision? Mattei, M. & Platikanova, P. (2017) Review of Accounting Studies, 22 (4), pp. 1628-1665.
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Investor-legislators: Tax holiday for politically connected firms Platikanova, P. (2017) The British Accounting Review, 4 (49), pp. 380-398.
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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
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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.
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