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Professor Massimo Massa interview at the SimCorp StrategyLab Copenhagen Summit 2011

Biography

INSEAD Business School
Professor of Finance. The Rothschild Chaired Professor of Banking. Co-Director of the Hoffmann Research Fund

Massimo Massa is the Rothschild Chaired Professor of Banking and a Professor of Finance at INSEAD. He teaches international finance, corporate finance, asset management, behavioural finance, and governance in MBA, EMBA, PhD and Executive Education programmes. He has an MBA from the Yale School of Management and an MA and a PhD in Financial Economics from Yale University. He is a CPA and an Auditor. He has previously worked in the Bank of Italy.

His research interests include asset management, corporate finance, behavioural finance, and financial intermediation. He has published articles on M&A, alliances, capital structure, dividend policy, share repurchases, IPOs, mutual funds, hedge funds, short-selling, behavioural biases, banking, asset management, international finance, the role of media and social networks in financial markets, ownership structure, corporate governance, family firms. His publications have been featured in top academic journals and his research has been quoted in major magazines, newspapers, professional journals, and forums. He is an Associate Editor of the Journal of Empirical Finance and the Review of Finance.

Professor Massa has been a consultant with several companies on strategic issues related to governance and corporate financial and growth strategies. He co-directs the Hoffmann Fund for research in family firms and is the director of the Advanced Asset Management programme, the Interalpha Banking programme and the Executive Master in Finance. He co-directs Value Creation for Owners and Directors programme and has managed several programmes for corporations and banks, including ABN AMRO, Maybank, Société Générale, Fineco, Technip, Mubadala, Bertelsmann.

Professor Massa's current research focuses on the link between corporate financial strategies, governance, and type of ownership and how this affects value creation and growth in corporations as well as the strategies of asset managers and banks and their synergies.

PUBLICATIONS

  • BOOK CHAPTERS - Stock Market Participation and Pension Reform - Oxford University Press
  • WORKING PAPERS - The Effects of Bond Supply Uncertainty on the Leverage of the Firm
  • JOURNAL ARTICLES - Mimicking Repurchases - Journal of Financial Economics
  • JOURNAL ARTICLES - Local Ownership and Private Information: Evidence of a Monitoring-Liquidity Trade-Off - Journal of Financial Economics
  • JOURNAL ARTICLES - Idiosyncratic Volatility and Product Market Competition - Journal of Business
  • JOURNAL ARTICLES - Favoritism in Mutual Fund Families? Evidence on Strategic Cross-Fund Subsidization
  • JOURNAL ARTICLES - Hedging, Familiarity and Portfolio Choice - Review of Financial Studies
  • JOURNAL ARTICLES - Favoritism in Mutual Fund Families? Evidence on Strategic Cross-Fund Subsidization - Journal of Finance

RESEARCH AREAS

Information in Financial Markets, Mutual Funds, Corporate Finance, Behavioural Finance

TEACHING AREAS

Corporate Finance: International Finance (MBA, EMBA, Executives: AICF, AMP, GMP, CSPs), Applied Corporate Finance (MBA, EMBA, MFIN, Executives: AICF, AMP, GMP, CSPs, MFIN), Mergers and Acquisitions (MBA, MFIN, Executives: AICF, AMP, GMP, CSPs), 2) Governance: Value Creation and Governance (Executives: AMP, IDP, VCOD, CSPs), 3) Behavioral Finance: Behavioral Strategies for Asset Managers and Managers (CSPs, MFIN), 4) Asset Management: Investment Strategies (Executives: AAM, CSPs), Strategic Insutrial Positioning (Executives: Interalpha, SMB, CSPs), 5) PhDs: Information Economics, Behavioral Finance, Applied Corporate Finance

INDUSTRY SECTORS

Banking and Insurance

INSEAD Business School

Massimo Massa is the Rothschild Chaired Professor of Banking, Professor of Finance at INSEAD, where he teaches international finance, corporate finance, information financial economics and behavioral finance in M.B.A., Ph.D. and Executive programs. He graduated summa cum laude from the Department of Economics at the LUISS University of Rome, Italy. He has obtained an M.B.A. from the Yale School of Management and a Ph.D. in Financial Economics from Yale University.

His research interests include theory of information in financial markets, corporate finance, behavioral finance, and mutual funds. His articles have been published in academic journals such as Review of Financial Studies, Journal of Finance, Journal of Financial Economics, Journal of Business, Journal of Financial and Quantitative Analysis, Journal of Financial Markets. His research has been quoted and discussed in major magazines and newspapers (The Economist, Business Week, The New York Times).

He has previously worked in the Bank of Italy in the Banking Division (1989-1992) and in the Research Department (Monetary and Financial Markets Division) (1993-1997).

Massimo’s specialty is the intersection between Finance, Strategy and Organizational Behavior.

Massimo created and runs the Advanced Asset Management Programs (AAM), created and runs with Ludo Van der Heyden Value Creation for Owners and Directors (VCOD).

Massimo created and is now Academic Advisor of the Master in Finance (MFIN).

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