Michael Pagano

Bartley Hall Rm 2041
Finance
800 Lancaster Avenue
Villanova, PA 19085

Email: michael.pagano@villanova.edu
Phone: (610) 519-4389

Education

BS, Fordham University, 1984

MBA, Rutgers University, 1997

PhD, Rutgers University, 1999

Publications

• “Credit, Cronyism, and Control: Evidence from the Americas,” 2006, Journal of International Money and Finance, 2006 (forthcoming)
• With Elyas Elyasiani and Iqbal Mansur, “Convergence and Risk-Return Linkages across Financial Service Firms,” 2006, Journal of Banking and Finance, 2006 (forthcoming)
• With R. Schwartz, “Nasdaq ‘s Closing Cross: Has its new call auction given Nasdaq better closing prices? Early Findings,” Journal of Portfolio Management, 2005
• With D. Stout, “Calculating a Firm ‘s Cost of Capital,” Management Accounting Quarterly, 2004
• With R. Schwartz, “A Closing Call’s Impact on Market Quality at Euronext Paris,” Journal of Financial Economics, 2003
• With J. Hughes, W. Lang, L. Mester, and C.G. Moon, “Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance,” Journal of Banking and Finance, 2003
• Pagano, M.S. (2010). An Empirical Investigation of the Rationales for Integrated Risk-Management Behavior. In C.F. Lee (Ed.), Handbook of Qualitative Finance. Springer (forthcoming)
• With D. Ozenbas, R.A. Schwartz, “Accentuated Intra-Day Stock Price Volatility: What is the Cause,” Journal of Portfolio Management, 2010 (forthcoming)
• With V. Gasparro, “Sovereign Wealth Funds: An Early Look at Their Impact on Debt and Equity Markets During the 2007-2009 Financial Crisis,” Financial Analysts Journal (forthcoming)
• “Accelerated Wireless Broadband Infrastructure Deployment: The Impact on GDP and Employment,” Media Law & Policy, 2009

Honors and Awards

• Darretta Endowed Chair in Finance, 2010
• Southern Finance Association Best Paper Award, 2005
• Silver Medal for Lybrand Best Paper Competition, 2005
• Outstanding Scholar Award, Villanova University, 2004-2005
• U.S. Fulbright Scholarship (for Costa Rica), 2002-03
• Summer Research Fellowship, Villanova University, 2001
• Fisher-Long-Whitcomb Teaching Excellence Award, Rutgers University, 1998.

Specialties

• Banking
• Central America
• Convergence; Econometrics
• Europe
• International Finance
• Interest Rates
• Market Efficiency
• Mutual Funds
• Quantitative Analysis
• Risk Management
• Stock Trading
• Valuation

Research

Market microstructure; financial institutions; risk management

Courses Taught

Financial Modeling; Market Structure, Trading, and Liquidity; Corporate Risk Management; Financial Markets, Institutions, and the Trading Environment; Applied Corporate Finance; Financial Institutions

Non-Academic Positions

• Commercial Banker
• Investment Analyst
• Product Specialist
• General Manager
• Firms – Citibank, ICM Corporation, Reuters America

Additional Information

At VSB since 1999

In the News Media

• The Wall Street Journal

Analysts Ask: What Now, Nasdaq?

• The Post and Courier

NYSE may merge with German company

• The Globe and Mail

Global stock exchange consolidation may just be starting