Valter Lazzari

Valter Lazzari is SDA Professor of Banking and Insurance at SDA Bocconi School of Management. He is also a professor of Banking and Finance at LIUC - Università Cattaneo in Castellanza (Varese, Italy).

At SDA Bocconi, he held the position of Director Valter Lazzari is an Affiliate Professor of Banking and Insurance at SDA Bocconi School of Management and Professor of Banking and Finance at LIUC - Università Cattaneo, Castellanza (Varese, Italy).

At SDA Bocconi, he has held the position of Director of the MBA Full-Time Program and has been a member of the Research Committee. He has headed research projects concerning corporate banking services, mutual fund performance analysis, management and governance of financial institutions, structure of the securities industry. At LIUC - Università Cattaneo, he served as Rector and, prior to that, as Dean of the Business School.

His research now focuses on corporate governance, management of banks and investment companies, financial regulation and supervision, equity markets, asset management and risk management. He is currently working on mutual fund performance analysis, regulation and supervision of banks, corporate governance and institutional forms of banks, strategic planning in banks.

His academic work has been published in refereed academic journals (most recently in the Journal of International Money and Finance, the Journal of Financial Stability, the Financial Management Journal) as well as in books and editorial series. He has also authored, or edited, books on sovereign financing, the hedge fund industry, the structure of the European securities Industry, the relationship between banks and non-financial corporations. He has been an associate editor of the Journal of Management and Governance and of the European Business Forum, a member of the Scientific Committee of the Institute of Economic Research of the Lombardy Region (IReR), a Visiting Professor of Finance at USI, Lugano (CH) and a lecturer at the University of Washington, Seattle WA, USA. He won a Research Prize both at Università Bocconi and at LIUC - Università Cattaneo and has been recognized as MBA teacher of the year several times.

As for corporate practice, he has served as an independent director for almost two decades in several types of financial institutions (a major listed bank, asset management companies, a real estate management company and a ratings agency), and is also Chair or a member of various board committees (Risk, Audit, Related Party Transactions, Remuneration nd Nomination). He has developed extensive experience as an independent member of Asset Allocation Committees for investments in hedge funds, private equity funds and for private wealth management companies.

Valter Lazzari graduated cum laude in Economics from Università Bocconi and earned both an M.Sc. and a Ph.D. in Economics from the University of Washington, Seattle, WA, USA.

Teaching domains

• Financial Institutions
• Financial Markets & Instruments
• Portfolio Management
• Financial Regulation
• Private Equity & Hedge Funds

Publications

Books

• Trends in the European Securities Market, (edited), 2011, EGEA, Milano
• Going Public and Listing Fees Around the World (con M. Geranio), 2011, in V. Lazzari (ed.), Trends in the European Securities Industry, 1-49, Egea, ISBN: 978-88-238-4280-9
• An Assessment of the Quality of Listing Services: the Italian Case (con G. Zanotti), 2011, in V. Lazzari (ed.), Trends in the European Securities Industry, 51-88, Egea, ISBN: 9788823842809
• Shareholder Identification and Corporate Action in Europe (con G. Lazzari e M. Maglione), 2011, in V. Lazzari (ed.), Trends in the European Securities Industry. 245-274, Egea, ISBN: 9788823842809
• Il costo delle Commissioni di Incentivo Applicate dai Fondi Comuni di Investimento Italiani (con D. Drago e M. Navone), 2009, Banca Mercati e Risparmio, vol. 3, 465-485, Bancaria Editrice, ISBN: 9788844904302
• La Riforma delle Banche Popolari, 2008, in Il Mercato Trasparente,401-409, Il Mulino, ISBN: 978-88-15-12127-1
• La valutazione delle aziende, 2007, in G. Forestieri (a cura di), “Corporate e Investment Banking” 3 ed., Egea, pp. 101-138
• Gli intermediari finanziari e la quotazione delle imprese, (con M. Fumagalli), 2007, in GX Forestieri (a cura di), “Corporate e Investment Banking” 4 ed., Egea, pp. 201-237
• Il financial risk management quale servizio di corporate banking, 2007, in G. Forestieri (a cura di), “Corporate e Investment Banking” 4 ed., Egea, pp. 469-490
• The Selection Ability of Italian Mutual Fund Managers, (with M. Navone), 2004, in G. De Laurentis (ed.), “Performance Measurements Frontiers in Banking and Finance”, EGEA
• Profili economici e finanziari degli hedge fund in Italia e nel mondo, 2004, Eti – De Agostini, Roma
• Stabilità e innovazione nel rapporto tra sistema finanziario e imprese: quale futuro?, (with G. Forestieri), 2003, in “Il finanziamento delle imprese: quale futuro?”, 7-35, Bancaria Editrice, Roma
• L’unione monetaria europea e il costo del capitale di rischio per le imprese quotate, (with E. Laruccia), in “Il finanziamento delle imprese: quale futuro?”, 161-188, Bancaria Editrice, Roma
• Il mercato delle ipo nell’Europa continentale, (con M. Geranio), 2003, in “Il finanziamento delle imprese: quale futuro?”, pp. 113-160, Bancaria Editrice, Roma
• Il finanziamento delle imprese: quale futuro?, (edited with G. Forestieri), 2003, Bancaria Editrice, Roma
• The value of corporate strategy, European Business Forum, Vol.8, 2002 Myths of shareholder value and efficiency, European Business Forum, vol.11, 2002
• Corporate Governance:first priciples, current debate, future prospects, European Business Forum, vol.5, 2001 (tradotto in italiano nella rivista Economia & Management e in francese nella rivista L''Expansion
• Economia e finanza degli hedge funds, in Banca Impresa e Società, vol.19, 2000
• La misurazione del rischio di un portafoglio di crediti bancari, (con E.Laruccia), Collana Ricerche della Banca Commerciale Italaiana, n.1, 2000
• La valutazione delle aziende, in G.Forestieri (a cura di), "Corporate & Investment Bnaking, 2000
• Il risk management come servizio di corporate banking, in G.Forestieri (a cura di), "Corporate & Investment Bnaking, 2000
• Finanza e sviluppo economico: quale relazione? Alcune considerazioni sul caso italiano, (con G.Forestieri), in V.Perrone (a cura di), "L''occupazione possibile: spazi d''azione imprenditoriale e manageriale", Etas Libri, Milano, 1998
• La struttura finanziaria delle piccole e medie imprese in Italia, in "Gli intermediari finanziari di fronte allo sviluppo del corporate finance" Quaderni di Politica Industriale, n. 23, Mediocredito Centrale, Roma, 1998
• L''impatto del processo di unione monetaria sulla struttura dei rendimenti azionari in Europa, Newfin, Università Bocconi, Milano, 1998
• I servizi agli emittenti: i sistemi di sottoscrizione e di collocamento, in P.L.Fabrizi, G.Forestieri, P.Mottura, "Gli strumenti finanziari", Egea, Milano, 1997
• Il sistema bancario dei paesi dell''Europa Centro Orientale : analisi comparata dell''evoluzione strutturale, in Quaderni di Economia e Banca, v.16, 1996
• La misurazione del rischio di un portafoglio crediti con misurazione dell''impatto del nuovo accordo di Basilea, (con E.Laruccia), Banca Impresa Società, vol.16, n. 2
• La struttura dell''offerta dei servizi di corporate finance alle PMI, in G.Forestieri, G.Corbetta (a cura di), "Le banche italiane dal credito al merchant banking", Collana Studi e Ricerche, n.16, Mediocredito Lombardo, Milano, 1996
• La vigilanza bancaria: controlli tradizionali e sviluppo negli Early Warning Systems, in R.Ruozi (a cura di), "Le crisi bancarie", Egea, Milano, 1995
• Le crisi bancarie in Svezia, in R.Ruozi (a cura di), "Le crisi bancarie", Egea, Milano, 1995
• Da un''economia di piano ad un''economia di mercato: l''esperienza dei Paesi Centro Europei, in Banche e Banchieri, n.20, 1994
• Le concentrazioni bancarie negli USA, in R.Ruozi (a cura di), "Le concentrazioni bancarie, Egea, Milano, 1993
• Technical Notes on Economies of Scale, Economies of Scope and Forms of Cost Functions used in Empirical Works, in OECD, Financial Conglomerates, OECD Press, Paris, 1993
• Three Essaye in Economics and Finance: An Applied Analysis of Stock Returns and of GDP Behavior, UMI, Ann Arbor, 1993
• Finanziamento ai Paesi in via di Sviluppo: la gestione di un periodo di crisi, Egea, Milano, 1991

Articles

• Exchanges Competition in Listing Services: Evidence for Italian Companies, (con M. Geranio), 2014, Economic Notes, vol. 43: 283–307. doi: 10.1111/ecno.12024
• Mutual Fund Incentive Fees: Determinants and Effects, (con D. Drago and M. Navone), 2010, Financial Management Journal, v.39, n.1, 365-392, ISSN 1755-053x
• What was the Ipo market like during the bubble?, (with M. Geranio), 2003, European Business Forum, v. 16, ISSN 1469-6460