Mara Faccio

Mara Faccio

Duke Realty Chair in Finance & Professor of Finance

Krannert School of Management
Purdue University
403 W. State Street
West Lafayette, IN 47907
Tel: (765) 496-1951

Google Scholar Page: http://scholar.google.com/citations?user=GWvpJ40AAAAJ&hl=en

Google Scholar Citations: 18,539

Awards, Fellowships, and Honors:

- Winner of the William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2018 Volume of the Journal of Financial and Quantitative Analysis.

- Director, American Finance Association, 2018-present.

- Research Associate, National Bureau of Economic Research, 2017-present.

- Referee of the Year Award, Review of Corporate Finance Studies, 2016.

- Winner of the William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2015 Volume of the Journal of Financial and Quantitative Analysis.

- Listed among the “Authors with the Most Citations to Their JFE Papers, 1974-2014”.

- Senior Fellow, Asian Bureau of Finance and Economics Research, 2014-present.

- Best Paper Runner-Up for the BlackRock/Brennan Award, Review of Financial Studies, 2012.

- Faculty Fellow, Krannert School of Management, Purdue University, 2010.

- Research Fellow, Centre for Economic Policy Research, 2009-2016.

- Nominated for the Brattle Prize, American Finance Association/Journal of Finance, 2007.

- Journal of Financial Economics All Star Paper Award for “The ultimate ownership of western European corporations” (with Larry H. P. Lang).

- Dean’s Award for Research Productivity, Owen Graduate School of Management, Vanderbilt University, 2006.

- Hirtle Callaghan Research Scholar Award, Vanderbilt University, 2005.

- Research Affiliate, Centre for Economic Policy Research, 2005-2009.

- Research Associate, European Corporate Governance Institute, 2004-present.

Editorial Experience:

Special Issue Co-Editor:

- Journal of Corporate Finance, Special Issue on “Culture and Finance”

Associate Editor:

- Financial Management, 2009-2014

- Journal of Corporate Finance, 2018-

- Journal of Financial and Quantitative Analysis, 2018-

- Pacific-Basin Finance Journal, 2016-

- Review of Financial Studies, 2008-2011

Comitato Scientifico:

- Banca Impresa Società, 2009-

- Rivista dei Dottori Commercialisti, 2009-

Editorial Board:

- International Journal of Corporate Governance, 2008-

Editorial Review Board Member:

- Journal of International Business Studies, 2019-2022

Academic Experience:

Purdue University, Krannert School of Management:

- Duke Realty Chair in Finance & Professor of Management (Finance), 2018-

- Hanna Chair in Entrepreneurship & Professor of Management (Finance), 2011-2018

- Hanna Chair in Entrepreneurship & Associate Professor of Management (Finance), 2007-2011

The University of Chicago, Booth School of Business:

- Visiting Professor of Finance, 2016-2017

Northwestern University, Kellogg School of Management, Finance Department:

- Visiting Scholar, 2013-2014

Vanderbilt University, Owen Graduate School of Management:

- Associate Professor of Finance, 2006-2007

- Assistant Professor of Finance, 2003-2006

University of Notre Dame, Mendoza College of Business:

- Assistant Professor of Finance, 2001-2003

Università Cattolica del Sacro Cuore, Milan:

- Assistant Professor of Finance, 1999-2002 (on leave 2001-2002)

Articles:

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Business groups and firm-specific stock returns” (with Randall Morck and M. Deniz Yavuz), Journal of Financial Economics, forthcoming.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Business groups and employment” (with William J. O’Brien), Management Science, forthcoming.

- Online appendix.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Death by Pokémon GO” (with John J. McConnell), Journal of Risk and Insurance, forthcoming.

- Was SSRN’s Weekly Top Paper on December 4, 2017.

- Was a feature story in RollingStone (December 19, 2017), Indiana Public Media (December 1, 2017), the Washington Post (November 29, 2017), New Scientist (November 28, 2017), Business Insider (November 27, 2017), Gizmodo (November 27, 2017), Ars Technica (November 27, 2017), The Telegraph Online (November 27, 2017), PC-Welt Online, (November 27, 2017), El Pais (November 28, 2017), CBS 4 Morning News (November 27, 2017), PC Magazine (November 26, 2017), The Verge (November 26, 2017), MSN US (November 26, 2017), and other news outlets.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Taxes, capital structure choices, and equity value” (with Jin Xu), Journal of Financial and Quantitative Analysis, June 2018, vol. 53(3), pp. 967-995.

- Lead article.

- William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2018 Volume of the JFQA.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Politically connected private equity and employment” (with Hung-Chia “Scott” Hsu), Journal of Finance, April 2017, vol. 72(2), 539-573.

- See a discussion of this paper in the blog launched by the University of Chicago (Stigler Center).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “CEO Gender, Corporate Risk-Taking, and the Efficiency of Capital Allocation” (with Maria-Teresa Marchica and Roberto Mura), Journal of Corporate Finance, August 2016, vol. 39, 193-209.

- Most Cited Journal of Corporate Finance Article published since 2016 (as of 7/15/2019).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Discussion of ‘Corporate political connections and tax aggressiveness’,” Contemporary Accounting Research, Spring 2016, vol. 33(1), 115-120.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Taxes and capital structure” (with Jin Xu), Journal of Financial and Quantitative Analysis, June 2015, vol. 50(3), 277-300.

- Lead article.

- William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2015 Volume of the JFQA.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Sheltering corporate assets from political extraction” (with Lorenzo Caprio and John J. McConnell), The Journal of Law, Economics, and Organization, April 2013, vol. 29(2), 332-354.

- Additional results

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Large shareholder diversification and corporate risk-taking” (with Maria-Teresa Marchica and Roberto Mura), Review of Financial Studies, November 2011, vol. 24(11), 3601-3641.

- BlackRock/Brennan Award - - Best Paper Runner Up (RFS).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ "The quality of accounting information in politically connected firms" (with Paul K. Chaney and David C. Parsley), Journal of Accounting and Economics, February 2011, vol. 51(1-2), 58-76.

- Was listed in 2016 # 1 among the Most Cited Journal of Accounting and Economics Articles published since 2011.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Differences between politically connected and non-connected firms: A cross country analysis”, Financial Management, Autumn 2010, vol. 39(3), 905-927.

- Listen to a discussion of my findings on political connections on BBC Radio 4, “Thinking allowed” (December 1, 2010).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Pyramiding versus leverage in corporate groups: International evidence” (with Larry H. P. Lang (郎咸平), and Leslie Young), Journal of International Business Studies, January 2010, vol. 41, 88-104.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Government control of privatized firms” (with Bernardo Bortolotti), Review of Financial Studies, August 2009, vol. 22(8): 2907-2939.

- Lead article.

- Was a feature story in Il Sole 24 Ore (May 19, 2004; July 17, 2004), Milano Finanza (September 11, 2004), Italia Oggi (September 15, 2004), and Business Line (The Hindu) (October 10, 2006).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Sudden deaths: Taking stock of geographic ties” (with David C. Parsley), Journal of Financial and Quantitative Analysis (Cambridge University Press), June 2009, vol. 33(3): 683-718.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Political connections and corporate bailouts” (with John J. McConnell and Ronald W. Masulis), Journal of Finance, vol. 61(6), December 2006, 2597-2635.

- Nominated for the Brattle Prize (best corporate finance paper published in the Journal of Finance).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Expropriation vs. proportional sharing in corporate acquisitions” (with David Stolin), Journal of Business, vol. 79(3), May 2006, 1413-1444.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Politically connected firms ”, American Economic Review, vol. 96(1), March 2006, 369-386.

- Most cited AER paper of 2006

- Old version with firm-level results; Appendix A; Regulation on conflicts of interest

- Was a feature story in The Economist (November 1, 2003), The Nation (November 3, 2003; November 26, 2003; June 27, 2004), the Business Times (November 3, 2003), Deutsche Presse-Agentur (November 4, 2003), Reuters News (November 4, 2003), Revista da Imprensa Economica (November 6, 2003), the Bangkok Post (November 30, 2003; December 7, 2003), Világgazdaság (February 10, 2004), and the New York Times (April 23, 2006).

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Returns to acquirers of listed and unlisted targets” (with John J. McConnell and David Stolin), Journal of Financial and Quantitative Analysis, vol. 41(1), March 2006, 197-220.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “The choice of payment method in European mergers and acquisitions” (with Ronald W. Masulis), Journal of Finance, vol. 60(3), June 2005, 1345-1388.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “The ultimate ownership of western European corporations” (with Larry H. P. Lang), Journal of Financial Economics, vol. 65(3), September 2002, 365-395.

- “All Star Paper” Award

- Most cited JFE paper of 2002

- 14^th most cited JFE paper (of all time) based on citations per year

- 26^th most cited JFE paper (of all time) based on total citations in Web of Science

- The data used in this paper are available on the JFE web site!

- Was a feature story in Institutional Investor (January 14, 2005).

- Reprinted in Corporate Governance in the New Global Economy, Kevin Keasey, Steve Thompson and Mike Wright (eds), Edward Elgar Publishing, forthcoming; Corporate Governance and Corporate Finance: A European Perspective, Ruud A. I. van Frederikslust, James S. Ang, and Sudi Sudarsanam (eds), Routledge - Taylor & Francis Ltd, 2007; and Governance: An International Perspective, Diane Denis and John McConnell (eds), Edward Elgar Publishing, 2005.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Dividends and expropriation” (with Larry H. P. Lang and Leslie Young), American Economic Review, vol. 91(1), March 2001, 54-78.

- Was a feature story in the South China Morning Post (September 20, 2000; September 21, 2000; September 22, 2000), International Herald Tribune (November 30, 2000), Handelsblatt (January 22, 2001), The Edge (December 25, 2000), and Today’s Manager Magazine (June-July 2002).

- Reprinted in Governance and Expropriation, Larry Lang (ed), Edward Elgar Publishing, 2005.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Do occupational pension funds monitor companies in which they hold large stakes?” (with Ameziane M. Lasfer), Journal of Corporate Finance, vol. 6(1), March 2000, 71-110.

- Was a feature story in the Financial Times Business Limited (May 13, 2002).

- Reprinted in Corporate Governance in the New Global Economy, Kevin Keasey, Steve Thompson and Mike Wright (eds), Edward Elgar Publishing, forthcoming; Corporate Governance and Corporate Finance: A European Perspective, Ruud A. I. van Frederikslust, James S. Ang, and Sudi Sudarsanam (eds), Routledge - Taylor & Francis Ltd, 2007; and Governance and Ownership, Robert Watson (ed.), Edward Elgar Publishing, 2005.

Book Chapters, Review Articles, and Professional Publications:

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Culture and finance: An introduction” (with Raj Aggarwal, Omrane Guedhami, and Chuck C.Y. Kwok), Journal of Corporate Finance, December 2016, vol. 41, 466-474. (Introductory article for the JCF Special Issue on “Culture and Finance.”)

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Corporate response to distress: Evidence from the Asian financial crisis” (with Rajdeep Sengupta), Federal Reserve Bank of St. Louis Review, March/April 2011, vol. 93(2), 127-154.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Institutional shareholders and corporate governance: The case of UK pension funds” (with Ameziane M. Lasfer), in: Joseph A. McCahery, Piet Moerland, Theo Raaijmakers and Luc Renneboog (eds.), “Convergence and diversity in corporate governance regimes and capital markets”, Oxford University Press, 2002, 603-622.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Pension fund investments and corporate monitoring” (with Ameziane M. Lasfer), Professional Investor, vol. 10(2), May 2000, 23-26.

Working Papers:

NEW “Revolving doors in executive branch agencies” (with Logan Emery), December 2019.

$Description: V:\WEBSITES\WWW\faculty\mfaccio\defaul1.gif$ “Political determinants of competition in the mobile telecommunication industry” (with Luigi Zingales), February 2019.

- See a discussion of this paper in the blog launched by the University of Chicago (Stigler Center).

- Featured in a Chicago Booth Review research comic: http://review.chicagobooth.edu/economics/2017/comic/could-government-lower-my-phone-bill-cbr-research-comic

- Was a feature story in the New York Times (July 24, 2018).

Resume: Full text vita in pdf format

Working Papers:

Last Revised: 2/17/2020