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Research

My research focuses on corporate policies. I study how frictions affect investment, capital structure dynamics, payout policy and liquidity management in corporations.

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Selected Published Work

Corporate Hedging and the Variance of Stock Returns

  • with Kizkitza Biguri (Universitat Autonoma de Barcelona) and Christian Brownlees (Universitat Pompeu Fabra).

  • Forthcoming in the Journal of Corporate Finance

Debt structure

  • with Paolo Colla (Bocconi) and Kai Li (Sauder Business School)

  • Annual Review of Financial Economics, Vol. 12:193-215, November 2020

Bank Lines of Credit as Contingent Liquidity: Covenant Violations and Their Implications

  • with Viral Acharya (Stern School of Business, NYU and NBER), Heitor Almeida (University of Urbana Champaign and NBER) and Ander Perez (FED Board).

  • European Central Bank Working Paper n. 1702

  • Set of Slides

  • Journal of Financial Intermediation, Volume 44, October 2020

  • Best Paper Award for the Journal of Financial Intermediation/FIRS 2020

A New Perspective on Bank Dependence: the Liquidity Insurance Channel

Bank Loans and the Transmission of Monetary Policy: the Floating Rate Channel

  • with Ander Perez (FED Board) and Ali Ozdagli (Boston Federal Rerserve).

  • Journal of Monetary Economics, Volume 95, May 2018.

  • CEPR Working Paper No. 9696

  • FEDS Working Paper No. 2017-026

  • Power point presentation

Double Bank Runs and Liquidity Risk Management

  • with Jose Luis Peydro (Universitat Pompeu Fabra), Andrea Polo (Universitat Pompeu Fabra) and Enrico Sette (Bank of Italy)

  • Awarded by SANFi (Santander Financial Institute), 2014

  • CEPR Discussion paper n 10948

  • Journal of Financial Economics, Volume 122, Issue 1, October 2016, Pages 135-154

Lines of Credit as Monitored Liquidity Insurance

Debt Specialization

  • with Kai Li (Sauder Business School Univ. of Vancouver) and Paolo Colla (Universita' Commercial L. Bocconi)

  • Journal of Finance, October 2013, (68:5)

  • Internet appendix

  • Data on specialization indeces (dta, csv), Readme for data labels

Contractual Characteristics and the Returns of Private Equity Investments

  • with Stefano Caselli (Universita Commerciale L. Bocconi) and Emilia Garcia Appendini (University of St. Gallen)

  • Journal of Financial Intermediation, 22 (2013) 201–217

Leverage and the Pricing of Debt in LBOs

  • with Paolo Colla (Universita' Commercial L. Bocconi) and Hannes Wagner (Universita' Commerciale L. Bocconi)

  • Journal of Corporate Finance, 18, 124–137, 2012

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Working Papers

The Tortoise and the Snail: Reconciling the Evidence on Capital Structure Stability

  • with Stefano Sacchetto (IESE) and Roberto Steri (Université de Luxembourg)

  • SFS Cavalcade 2019 Pittsburgh, Pennsylvania

Levered Returns and Capital Structure Imbalances

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Work in Progress

Macroeconomic Implications of Interest Rate Parity Deviations

  • with Ragnar Juelsrud (Norges Bank), Artashes Karapetyan (ESSEC) , Jose Luis Peydro (UPF), Olav Syrstad (Norges Bank)

Joint Liquidity Management at Banks and Firms: A Structural Approach

  • with Juan Imbet (Universitat Pompeu Fabra), Stefano Sacchetto (IESE) and Roberto Steri (Université de Luxembourg)

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Old Working Papers

Leverage Dynamics and Investment

  • With Mattia Bongini and Roberto Steri (Université de Luxembourg)

Default Penalties in Private Equity Partnerships

  • with Albert Banal-Estanol (Universitat Pompeu Fabra) and Sergio Vicente (Universitad Carlos III, Madrid)

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Other Published Work

Institutional Protection Schemes in the Banking Union

  • Filippo Ippolito, Peter Hope, Reinder Van Dijk

  • European Parliament, April 2022

A Method to Assess the Impact of the Universal Postal Service Obligation

  • Filippo Ippolito, Roberto Alimonti, Luigi Stammati

  • In: Parcu, P.L., Brennan, T.J., Glass, V. (eds) The Economics of the Postal and Delivery Sector. Topics in Regulatory Economics and Policy. Springer, Cham

Double bank runs, liquidity risk management, and Basel III

  • Filippo Ippolito, José-Luis Peydró, Andrea Polo, Enrico Sette

  • Voxeu: 10 May 2016

How the use of floating-rate loans changes the impact of monetary policy

  • Filippo Ippolito, Ali Ozdagli, Ander Perez

  • Voxeu, 02 February 2016

Syndication and Second Loan Sales

  • with Paolo Colla (Universita' Commerciale L. Bocconi)

  • Theoretical Economics Letters, 1(3):81–87, 2011

The Banking Sector Rescue in Russia

  • Institute for Economies in Transition, BOFIT, Bank of Finland, No. 12, 2002

ITALY: Banking foundations adjust and thrive

  • Oxford Analytica, August 3, 2001

An Italian Bank Caught in the Vortex of Election Politics

  • My interview for the International Herald Tribune/NY Times about the downfall of Monte dei Paschi di Siena, By E.Povoledo and J. Ewing, International Herald Tribune, Global Business, January 28, 2013

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Exposure in the media

2016 - Double bank runs, liquidity risk management, and Basel III Filippo Ippolito, José-Luis Peydró, Andrea Polo, Enrico Sette, 10 May 2016, http://voxeu.org/article/double-bank-runs-liquidity-risk-management-and-basel-iii

2016 - Voxeu, "How the use of floating-rate loans changes the impact of monetary policy", Filippo Ippolito, Ali K. Ozdagli, Ander Perez, 03 February 2016, http://www.voxeu.org/article/floating-rate-loans-and-impact-monetary-policy

2013 - International Herald Tribune/NY Times, "An Italian Bank Caught in the Vortex of Election Politics", my interview for the about the downfall of Monte dei Paschi di Siena, By E.Povoledo and J. Ewing, International Herald Tribune, Global Business, January 28, 2013

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