Programme Area

Banking and Corporate Finance

Years active: October 2022

The Banking and Corporate Finance programme brings together researchers interested in all areas of banking and corporate finance and related strands of research.

CEPR has a long history of promoting research in financial economics. The Financial Economics programme has recently split in two; Banking and Corporate Finance (BCF) and Asset Pricing (AP), to provide more targeted conferences and interactions.

Key areas covered by the Banking and Corporate programme are:-

Banks and non-bank intermediaries
Financial stability, insurance and pension companies
Bank supervision and regulation
Financial markets and economic activity
Risk management, monetary policy and central banking
Behavioural corporate finance and financial intermediation
Fintech, big data and machine learning
Corporate governance, capital structure, dividend and payout structure
Corporate control and going public
Finance and labour
Financial innovation, mergers and acquisitions

While aiming to maintain the two strands of Financial Economics separate to the extent possible, CEPR recognises that some researchers are active in areas relevant for BCF and AP programmes. For this reason, Fellows and Affiliates in the BCF programme will also receive calls for papers and other communications by the AP programme, for a time.

Annual Symposia

BCF Symposium

The new BCF Symposium will take place annually from 2024.
In 2023 the BCF Group will support the Bocconi - BAFFI CAREFIN - CEPR Workshop On Financial Intermediation and Corporate Finance.

ESSFM – Corporate Finance Week

Fellows and Affiliates in the BCF programme will meet annually at the European Summer Symposium in Financial Markets (ESSFM). Hosted by the Studienzentrum Gerzensee since 1991, ESSFM includes daily seminars in which participants present their work, as well as less formal seminars scheduled at the beginning of the Symposium. ESSFM is held over two weeks, one of which concentrates on some recent development in corporate finance.

A substantial amount of time is reserved for independent work and collaborative research, which provides participants with a unique opportunity to interact and discuss each other's research. In addition, every Symposium features 'focus sessions', concentrating on the latest developments at the frontier within a specific area of research.

Programme Directors

Elena Carletti

Full Professor of Finance, Finance Department Bocconi University

Research Fellows

Viral Acharya

C. V. Starr Professor of Economics in the Department of Finance, Stern School of Business New York University

Renée Adams

Professor of Finance University Of Oxford

Tobias Adrian

Financial Counsellor and Director of the Monetary and Capital Markets Department International Monetary Fund

Toni Ahnert

Research Economist European Central Bank

Rui Albuquerque

Professor of Finance in the Carroll School of Management Boston College; Blog Editor for the Portuguese Economy Research Report

Franklin Allen

Interim Dean of Imperial Business School, Professor of Finance and Economics and Director of the Brevan Howard Centre Imperial College London, Business School

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance

Ronald Anderson

Emeritus Professor of Finance London School Of Economics And Political Science

José Azar

Visiting Professor, IESE Business School; Assistant professor of Economics University of Navarra

Ana Babus

Associate Professor of Economics Washington University In St. Louis

Marco Becht

Executive Director and Fellow European Corporate Governance Institute; Visiting Professor Imperial College London, Business School; Professor of Finance and the Goldschmidt Chair Professor at the Solvay Brussels School for Economics and Management Université Libre De Bruxelles

Thorsten Beck

Director, Florence School of Banking and Finance; Professor of Financial Stability European University Institute

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance

Bo Becker

Director, Swedish House of Finance; Cevian Capital Professor of Finance in the Department of Finance Stockholm School Of Economics

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance / Fellow, Climate Change and the Environment

Juliane Begenau

Associate Professor of Finance at the Stanford Graduate School of Business Stanford University

Tobias Berg

Full Professor of Finance Goethe University Frankfurt

Erik Berglöf

Chief Economist Asian Infrastructure Investment Bank

Bruno Biais

Professor Hec Paris; Distinguished Visiting Professor in Finance Hec Paris; Associate Researcher Toulouse School Of Economics

Patrick Bolton

Barbara and David Zalaznick Professor Emeritus of Business and Professor Emeritus of Economics Finance Columbia University; Professor of Finance Imperial College London

Diana Bonfim

Senior Economist Bank Of Portugal; Full Professor (adjunct) Católica Lisbon School Of Business & Economics; Senior Lead Economist European Central Bank

Arnoud Boot

Fellow Royal Netherlands Academy of Arts and Sciences; Professor of Corporate Finance and Financial Markets University Of Amsterdam

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance

Marieke Bos

Economist and Deputy Director, the Swedish House of Finance Stockholm School Of Economics; Associate Professor of Finance Vrije Universiteit Amsterdam

Laura Bottazzi

Research Fellow at the Innocenzo Gasparini Institute for Economic Research (IGIER) Bocconi University, IGIER; Professor, Economics Department University Of Bologna

Markus Brunnermeier

Edwards S. Sanford Professor of Economics and Director of the Bendheim Center for Finance Princeton University

Valentina Bruno

Arlene R. and Robert P. Kogod Eminent Professor of Finance American University

Mike Burkart

Professor of Finance London School Of Economics And Political Science

Elena Carletti

Full Professor of Finance, Finance Department Bocconi University

Claire Celerier

Associate Professor of Finance at the Rotman School of Management University Of Toronto

Stijn Claessens

Executive Fellow Yale School Of Management

Alma Cohen

Professor of Empirical Practice, Harvard Law School Harvard University; Professor The Eitan Berglas School of Economics Tel Aviv University

Jean-Edouard Colliard

Associate Professor of Finance HEC Paris School of Management

Jennifer Corbett

Emeritus Professor in the Crawford School of Public Policy Australian National University; Emeritus Fellow of St. Antony's College University Of Oxford; Inaugural Rio Tinto Fellow for the Foundation for Australia-Japan Studies University Of Tokyo

Claudia Custodio

Associate Professor of Finance Imperial College London, Business School

Jean-Pierre Danthine

Managing Director Enterprise for Society (E4S - UNIL-IMD-EPFL); Emeritus Professor of Economics and Finance HEC Lausanne; Associate Member and President Paris School of Economics (PSE); Professor Swiss Federal Institute of Technology Lausanne (EPFL)

Sudipto Dasgupta

Professor of Finance Chinese University Of Hong Kong

Ralph De Haas

Director of Research European Bank for Reconstruction and Development (EBRD); Part-time Professor of Finance Ku Leuven

Hans Degryse

Professor of Finance in the Department of Accountancy, Finance and Insurance Ku Leuven

Giovanni Dell'Ariccia

Deputy Director Research Department International Monetary Fund

RPN Member, European Economic Policy / RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance

Mathias Dewatripont

Co-Director of I3h Institute and ECARES (Solvay Brussels School); Professor of Economics and Researcher Université Libre De Bruxelles

Alex Edmans

Professor of Finance London Business School

Andrew Ellul

Professor of Finance and Fred T. Greene Chair in Finance, Kelley School of Business Indiana University

Maryam Farboodi

John D. Gruber Career Development Professor and Assistant Professor of Finance at the Sloan School of Management Massachusetts Institute of Technology (MIT)

Miguel Ferreira

BPI | Fundação "la Caixa" Chair Professor in Responsible Finance Nova School Of Business And Economics

Daniel Ferreira

Professor of Finance London School Of Economics And Political Science

Caroline Fohlin

Professor of Economics Emory University

Xavier Freixas

Professor Pompeu Fabra University

Laurent Frésard

Research Chair Swiss Finance Institute; Professor of Finance Università Della Svizzera Italiana

Paolo Fulghieri

Macon G. Patton Distinguished Professor and Area Chair of Finance Kenan-Flagler Business School

Andreas Fuster

Associate Professor of Finance, SFI Senior Chair Ecole polytechnique fédérale de Lausanne (EPFL); Economic Advisor Swiss National Bank (SNB)

Leonardo Gambacorta

Head of Innovation and the Digital Economy Bank For International Settlements

RPN Member, Fintech and Digital Currencies / RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance / RPN Member, Artificial Intelligence

Nickolay Gantchev

Professor of Finance University Of Warwick

Thomas Gehrig

Chair in Finance University Of Vienna

Mariassunta Giannetti

Katarina Martinson Professor of Finance Stockholm School Of Economics

Mireia Giné

Professor of Finance IESE Business School, Barcelona; Director of the Wharton Research Data Services at The Wharton School University Of Pennsylvania

Xavier Giroud

Roger F. Murray Associate Professor of Finance Columbia University

Christian Gollier

Managing Director Toulouse School Of Economics

Juanita González-Uribe

Associate Professor in Finance London School Of Economics And Political Science

Piero Gottardi

Professor of Economics University Of Essex

Veronica Guerrieri

Ronald E. Tarrson Professor of Economics and Williard Graham Faculty Scholar, Booth School of Business University Of Chicago

Luigi Guiso

AXA Professor of Household Finance Einaudi Institute for Economics and Finance (EIEF)

Michel Habib

Professor of Finance University Of Zurich

Dirk Hackbarth

Professor of Finance at the Questrom School of Business Boston University

Jan Hanousek

Professor, academic leader, FinHub

Gikas Hardouvelis

Professor of Finance and Economics in the Department of Banking and Financial Management University Of Piraeus

Rainer Haselmann

Chaired Professor of Finance, Accounting and Taxation Goethe University Frankfurt

Florian Heider

Professor of Economics Goethe University Frankfurt; Scientific Director Leibniz Institute For Financial Research (SAFE)

Christian Hellwig

Professor of Economics Toulouse School Of Economics

Christopher Hennessy

Professor of Finance London Business School

Marie Hoerova

Senior Adviser in the Directorate General Research European Central Bank

Johan Hombert

Professor of Finance HEC Paris School of Management

Deniz Igan

Head of Macroeconomic Analysis Bank For International Settlements

Roman Inderst

Professor of Finance and Economics Goethe University Frankfurt

Vasso Ioannidou

Professor of Finance Bayes Business School

Victoria Ivashina

Lovett-Learned Professor of Finance Harvard University

Rajkamal Iyer

Professor of Finance Imperial College London, Business School

Dirk Jenter

Associate Professor of Finance London School Of Economics And Political Science

Simon Johnson

Ronald A. Kurtz Professor of Entrepreneurship, Head of the Global Economics and Management Group and Faculty Chair of the Sloan Fellows Programme Massachusetts Institute of Technology (MIT)

Marcin Kacperczyk

Professor of Finance Imperial College London

Anil K Kashyap

Stevens Distinguished Service Professor of Economics and Finance, Booth School of Business University Of Chicago

Matti Keloharju

Aalto Distinguished Professor and Professor of Finance Aalto University School of Business

Elisabeth Kempf

Jaime and Raquel Gilinski Associate Professor of Business Administration Harvard Business School

Mervyn King

Emeritus Professor of Economic London School Of Economics And Political Science

Kees Koedijk

Professor of Finance Utrecht University; Professor of Finance and Head of the Department of Ethics, Governance and Society Vrije Universiteit Amsterdam

Jan-Pieter Krahnen

Professor of Finance emeritus Goethe University Frankfurt; Founding Director emeritus Leibniz Institute For Financial Research (SAFE)

RPN Leader, European Financial Architecture / RPN Member, European Economic Policy / Fellow, Banking and Corporate Finance / RPN Steering Committee, European Financial Architecture

Theresa Kuchler

Associate Professor of Finance, Stern School of Business New York University

Olga Kuzmina

Associate Professor of Finance New Economic School

Luc Laeven

Director-General of the Directorate General Research European Central Bank

Bart Lambrecht

Director of the Cambridge Endowment for Research in Finance, Professor of Finance, and Fellow Commoner of Queens’ College University Of Cambridge

Christine Laudenbach

Professor of Finance Goethe University Frankfurt; Director of the Household Finance Department Leibniz Institute For Financial Research (SAFE)

Agnese Leonello

Economist, Financial Research Division European Central Bank

Christian Leuz

Charles F. Pohl Distinguished Service Professor of Accounting and Finance, University of Chicago's Booth School of Business University Of Chicago

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance / Fellow, Climate Change and the Environment

Doron Levit

Professor of Finance and Business Economics University Of Washington

Alexander Ljungqvist

Stefan Persson Family Chair in Entrepreneurial Finance Stockholm School Of Economics

Gyöngyi Lóránth

Professor of Finance in the Department of Business, Economics and Statistics University Of Vienna

Matteo Maggiori

Moghadam Family Professor of Finance in the Graduate School of Business Stanford University

Andrey Malenko

Professor of Finance in the Carroll School of Management Boston College

Nadya Malenko

Professor of Finance and Wargo Family Faculty Fellow Boston College

Frédéric Malherbe

Director, UCL Centre for Finance and Professor of Economics and Finance University College London

Thomas Mariotti

CNRS Research Director Toulouse School Of Economics

Maria Soledad Martínez Pería

Assistant Director, Macro-Financial Division, IMF Research Department International Monetary Fund

Massimo Massa

Rothschild Chaired Professor of Banking and Professor of Finance, Co-Director of the Hoffmann Research Fund European Institute of Business Administration (INSEAD)

Colin Mayer

Emeritus Professor of Management Studies, Saïd Business School and Blavatnik School of Government, University of Oxford and Professorial Fellow of Wadham College, Oxford University Of Oxford

David Miles

Professor of Economics Imperial College London, Business School

Erwan Morellec

Professor of Finance for the College of Management of Technology Swiss Federal Institute of Technology Lausanne (EPFL); Senior Research Chair Swiss Finance Institute

Alan Morrison

Professor of Law and Finance, Saïd Business School and a Fellow of Merton College University Of Oxford

Holger Mueller

Nomura Professor of Finance at the Leonard N. Stern School of Business New York University

Ramana Nanda

Visiting Scholar Harvard Business School; Professor of Entrepreneurial Finance and Academic Lead at the Institute for Deep Tech Entrepreneurship Imperial College London

Giovanna Nicodano

CCA Founding Fellow Collegio Carlo Alberto; Professor of Financial Economics University Of Turin

RPN Steering Committee, Household Finance / Fellow, Asset Pricing / Fellow, Banking and Corporate Finance

Kjell G. Nyborg

Senior Chair Swiss Finance Institute; Chaired Professor of Finance, Department of Banking and Finance University Of Zurich

Martin Oehmke

Professor of Finance London School Of Economics And Political Science

RPN Member, European Financial Architecture / Fellow, Banking and Corporate Finance / Fellow, Climate Change and the Environment

Steven Ongena

Research Professor Ku Leuven; Senior Chair Swiss Finance Institute; Professor in Banking University Of Zurich

Marcus Opp

Professor Stockholm School Of Economics

Gaizka Ormazabal

Professor of Accounting and Control University of Navarra

Marco Pagano

Professor of Finance University Of Naples Federico Ii

RPN Member, European Financial Architecture / Fellow, Asset Pricing / Fellow, Banking and Corporate Finance / Fellow, Climate Change and the Environment

Fausto Panunzi

Professor of Economics Bocconi University

Daniel Paravisini

Professor of Finance London School Of Economics And Political Science

Loriana Pelizzon

Full Professor of Economics Ca' Foscari University Of Venice; Full Professor and Chair of Law and Finance Goethe University Frankfurt; Department Director of "Financial Markets" and Coordinator of Gender Equality Leibniz Institute For Financial Research (SAFE)

Enrico Perotti

Founder and Director of the Research Platform 'A Sustainable Future' at UVA Senior Advisor Financial Stability DNB Member of the ESRB Advisory Scientific Committee European Central Bank; Professor of International Finance University Of Amsterdam

Jose-Luis Peydro

Research Professor and Research Associate Centre De Recerca En Economia Internacional (CREI); ICREA Professor of Economics at UPF-BSE ICREA-Universitat Pompeu Fabra and Barcelona School of Economics; Professor of Finance Imperial College London

Giorgia Piacentino

Associate Professor at the Marshall School of Business University Of Southern California

Guillaume Plantin

Professor Sciences Po Paris

Alexander Popov

Adviser in DG Research European Central Bank

Richard Portes

Tarun Ramadorai

Professor of Financial Economics Imperial College London, Business School

Adriano A. Rampini

Douglas and Josie Breeden Distinguished Professor of Financial Economics Duke University

Enrichetta Ravina

Senior Economist Federal Reserve Bank Of Chicago; Bertil Danielsson Visiting Professor Swedish House Of Finance

Rafael Repullo

Professor of Economics and Director Center for Monetary and Financial Studies (CEMFI)

Hélène Rey

Vice President Centre for Economic Policy Research; Lord Bagri Professor of Economics London Business School

Fellow, International Macroeconomics and Finance / RPN Member, European Economic Policy / Fellow, Asset Pricing / Fellow, Banking and Corporate Finance / CEPR Vice President / Fellow, Climate Change and the Environment

Jean Charles Rochet

Research Director at Institut D’Économie Industrielle Toulouse 1 Capitole University; Professor of Economics Toulouse School Of Economics

Jörg Rocholl

President and Deutsche Bank Professor in Sustainable Finance ESMT Berlin European School of Management and Technology

Stefano Rossi

Generali Chair in Insurance and Risk Management and Professor of Finance Bocconi University

Farzad Saidi

Professor University Of Bonn

Tano Santos

Robert Heilbrunn Professor of Asset Management and Finance and Academic Director of the Heilbrunn Center for Graham & Dodd Investing Columbia University

Paola Sapienza

Donald C. Clark/HSBC Chair in Consumer Finance at the Kellogg School of Management Northwestern University

Martin Schmalz

Head of the Finance, Accounting, Management Science, and Economics Area at the Saïd Business School and Professor University Of Oxford

Isabel Schnabel

Member of the Executive Board European Central Bank; Professor of Financial Economics (on leave) University Of Bonn

Philipp Schnabl

Martin J. Gruber Professor in Asset Management Stern School of Business, New York University (NYU)

Antoinette Schoar

Stewart C. Myers-Horn Family Professor of Finance and Entrepreneurship Massachusetts Institute of Technology (MIT)

Dirk Schoenmaker

Professor of Banking and Finance, Rotterdam School of Management Erasmus University Rotterdam

Enrique Schroth

Professor of Finance EDHEC Business School

Amit Seru

Senior Fellow Hoover Institution; The Steven and Roberta Denning Professor of Finance Stanford Graduate School Of Business; Senior Fellow Stanford Institute for Economic Policy Research

Henri Servaes

Richard Brealey Professor of Corporate Governance and Professor of Finance London Business School

Enrico Sette

Director, Deputy Head of Division, Department of Economics and Statistics Bank Of Italy

Hyun Song Shin

Co-Lead of the Monetary and Economic Department and Senior Management Member of the Executive Committee Bank For International Settlements

Elena Simintzi

Associate Professor of Finance University of North Carolina at Chapel Hill

David Sraer

Associate Professor of Finance and James J. and Marianne B. Lowry Chair in Business University of California, Berkeley

Sascha Steffen

Professor and DWS Senior Chair in Finance Frankfurt School Of Finance & Management

Johannes Ströbel

Professor of Finance at the Stern School of Business New York University

Per Strömberg

Visiting Professor of Finance Booth School of Business, University of Chicago; Associate Professor of Finance and Private Equity Stockholm Institute for Financial Research; SSE Centennial Professor of Finance and Private Equity Swedish House Of Finance

Javier Suarez

Professor of Finance Center for Monetary and Financial Studies (CEMFI)

Alireza Tahbaz-Salehi

Professor of Managerial Economics and Decision Sciences Kellogg School Of Management, Northwestern University

Ane Tamayo

Head of Department and Professor of Accounting London School Of Economics And Political Science

David Thesmar

Franco Modigliani Professor of Financial Economics MIT Sloan School of Management

Karin S Thorburn

Research Chair Professor of Finance Norwegian School of Economics (NHH); Adjunct Full Professor of Finance The Wharton School of the University of Pennsylvania

Katrin Tinn

Assistant Professor of Finance Mcgill University

Jean Tirole

Director Toulouse School Of Economics

Margarita Tsoutsoura

Associate Professor of Finance and John and Dyan Smith Professor of Management and Family Business Cornell University; Associate Professor of Finance, Olin Business School Washington University In St. Louis

Harald Uhlig

Bruce Allen and Barbara Ritzenthaler Professor of Economics University Of Chicago

Neeltje van Horen

Part-time Professor of Financial Economics Senior Research Advisor Bank Of England

Victoria Vanasco

Laura Veldkamp

Leon G. Cooperman Professor of Finance & Economics Columbia University

Vikrant Vig

Henry D. Bullock Professor of Finance at the Kellogg School of Management Northwestern University

Annette Vissing-Jørgensen

Senior Advisor Federal Reserve Board Of Governors

Xavier Vives

Professor of Economics and Finance, Abertis Chair of Regulation, Competition and Public Policy and Academic Director of the Public-Private Sector Research Center IESE Business School, Barcelona

Paolo Volpin

Professor of Finance Bayes Business School; Stratakis Chair Professor in Corporate Governance and Academic Director of the Gupta Governance Institute Drexel University