Research Overview

The Department of Economics and Management has 67 members covering with their research almost every aspect of modern economic analysis and its applications. Our researchers engage actively with policy makers, national and international businesses, and the society. 

Since its foundation, the Department has also developed scientific relations with other Italian and foreign universities, research institutes and top international researchers. The department runs several research events, weekly research seminars, and an international four-year PhD programme. It also funds several postdoctoral positions and research visits within the Research Visiting Senior Fellowship programme.

Our research is published in leading international journals and several national and international rankings position us among the leading research institutions in Italy for economics and management. We were nominated “Department of Excellence for research” in 2018 by the Italian Ministry of Education, and rank first among medium size universities in economics, business and statistics in the last national research assessment exercise (ANVUR 2011-2014). Internationally, the QS World University Rankings ranks us among the top-150 departments, and the Times Higher Education among the top-250 departments worldwide, with a consistent upward trajectory in the last years.

While the boundaries among research areas are often overlapping and the department hosts a collaborative and interdisciplinary environment, our main research areas are:

  Accounting

Members of this group have published in journals such as: 
Academic Management Journal, European Accounting Review, Review of Accounting Studies.

Most of their research focuses on:

- Banking and finance
The Banking and Finance research area investigates the role of financial and information intermediaries in the financial markets, determinants and effects of banking systems, corporate finance and governance of listed and private firms. Banking and Finance deploys quantitative methods, theoretical models and case studies. The results of this area of research are relevant for market participants, banks, listed and private firms, as well as policy-makers.

Group members: 
Cinzia Baldan
Fabio Buttignon
Michele Fabrizi
Andrea Menini
Bruno Maria Parigi
Elena Sapienza
Francesco Zen

- Financial accounting
The Financial Accounting research area focuses on the role of accounting principles (IFRS and/or US-GAAP) and corporate disclosure in increasing market efficiency. Particular effort is put in investigating: the trade-off between reliability and relevance of accounting information; management discretionality in providing accounting information; market participants' reactions to corporate disclosure. Financial Accounting deploys mainly quantitative methods using international databases and hand-collected data. The results of this area of research are relevant for market participants, managers, standard setters, and practitioners.

Group members: 
Fabio Buttignon
Fabrizio Cerbioni
Michele Fabrizi
Andrea Menini
Antonio Parbonetti
Amedeo Pugliese
Francesco Zen

  Economics

Members of this group have published in journals such as: 
American Economic Review, Review of Economic Studies, Journal of the European Economic Association.

Most of their research focuses on:

- Development economics
Research in development economics investigates the factors of economic development in developing countries, particularly human capital, health and political institutions, the organization and functioning of markets, and the role of informal economy and institutions. Methodologically, both theoretical models and empirical analysis are typically used.

Group members: 
Thomas Bassetti
Roberto Bonfatti
Elisabetta Lodigiani
Luca Nunziata

- Economic analysis in a historical perspective
This research area deals with the different economic theories and methodological approaches that have characterized economic science since its early beginning. It aims at understanding how economists have faced economic problems, have developed them in their theoretical contributions, and have given insights to work out economic policies in different periods and countries.

Group members: 
Roberto Bonfatti
Katia Caldari
Arrigo Opocher
Mario Pomini
Stefano Solari
Gianfranco Tusset

- Economic geography and regional economics
This area investigates the economic role of space, specifically the drivers and the economic effects of the geographical concentration of firms and industries. The research activity involves different spatial levels (industrial districts, clusters, cities, regions and countries) and different approaches (like new economic geography, evolutionary economic geography and network analysis). Particular emphasis is given to the geography of innovation and foreign direct investments. 

Group members: 
Roberto Antonietti
Marco Bettiol
Giulio Cainelli
Donata Favaro
Roberto Grandinetti
Silvia Rita Sedita

- Energy and environmental economics and management 
This area involves two main research lines. One is energy economics, where researchers: (i) calibrate theoretical models on the optimal investment strategy in energy infrastructures; (ii) study the industrial organization of energy markets. The other is environmental economics and management, where researchers analyse: (i) the determinants, characteristics and economic effects of environmental innovations; (ii) the circular economy and its impacts on firms and business practices; (iii) the link between environmental regulation and production offshoring.

Group members: 
Roberto Antonietti
Thomas Bassetti
Giulio Cainelli
Valentina De Marchi
Fulvio Fontini
Lorenzo Forni
Alberto Lanzavecchia
Michele Moretto

- Game theory and industrial economics
This research area is devoted to the study of industrial organization - i.e. the analysis of the way firms organize their activities/strategies, compete with one another, react to incentives and public policies - and it features strong coverage of information economics, contracting issues, and game theory. Research also explores real-world empirical applications and, in so doing, it adopts econometric and experimental approaches. The blend of theory and practice often produces a treatise that serves as a valuable contribution to design real-world industrial policies.

Group members: 
Luciano Giovanni Greco
Fabio Manenti
Michele Moretto
Antonio Nicolo'
Bruno Maria Parigi
Orestis Troumpounis
Paola Valbonesi

- Health economics
Health economics investigates the socio-economic determinants of individual and community health, included health behaviours, and how health affects economic outcomes. A key determinant of health is healthcare. The study of healthcare organization, provision, effectiveness and cost-effectiveness is central in health economics. Methodologically, both theoretical models and empirical analysis are typically used.

Group members: 
Marco Bertoni
Martina Celidoni
Luca Nunziata
Vincenzo Rebba
Lorenzo Rocco
Guglielmo Weber

- Labour economics and economics of ageing
The focus of labour economics is the analysis of labour markets and of the effect of on wages, employment and unemployment of economic institutions, such as minimum wages, firing costs and retirement rules. Central are the studies on production and returns to human capital and the effects of an ageing population on workers’ productivity and the sustainability of a country’s welfare system. Methodologically, both theoretical models and empirical analysis are used, although the area is mainly applied and adopts the tools typical of policy evaluation.

Group members: 
Marco Bertoni
Martina Celidoni
Donata Favaro
Elisabetta Lodigiani
Luca Nunziata
Lorenzo Rocco
Guglielmo Weber

- Macroeconomics and macroeconometrics
The aim of conducting research in macroeconomics is that of understanding causes and consequences of business cycle fluctuations. The identification of the drivers of the business cycle, the modelling and investigation of the mechanisms via which macroeconomic shocks can affect output and inflation, and the study of the role that macroeconomic policies (in particular, fiscal and monetary policies) can play in avoiding recessions or excessive price volatility are crucial aspects of this discipline. State-of-the-art research comprises the identification of non-linearities in the above mentioned transmission mechanisms as well as the distributional consequences of macroeconomic policy interventions.

Group members: 
Nunzio Cappuccio
Efrem Castelnuovo
Lorenzo Forni
Luciano Giovanni Greco
Gabriele Orcalli
Mario Pomini
Guglielmo Weber

- Microeconomic theory
This research area is devoted to the analysis of individual and group decision making with particular emphasis on strategic behavior and decision under risk and uncertainty. Theoretical research is conducted in the area of mechanism design, collective choice, game theory, auction theory, behavioral economics, with applications to financial markets public procurements, mechanisms to allocate organ to patients waiting for transplants, school choices, antitrust and market regulation, among others.

Group members: 
Fulvio Fontini
Fabio Manenti
Michele Moretto
Antonio Nicolo'
Arrigo Opocher
Bruno Maria Parigi
Orestis Troumpounis
Paola Valbonesi

- Public economics
This research area is devoted to the analysis of market and government failures. The main focus is on the design of public and private institutions and government policies considering efficiency and social justice criteria. Methodological approaches are based on applied economic theory and empirical economics (e.g., econometric analysis, experimental studies). Typical issues that are analyzed by researchers in this field are the public provision of public and private goods; taxation; social security, health policies, and social public expenditure; cost-benefit analysis and public investments; market regulation; social choice and collective decisions; voting mechanisms and political institutions; fiscal federalism; public-private interactions; public finance and public debt management.

Group members: 
Thomas Bassetti
Marco Bertoni
Roberto Bonfatti
Martina Celidoni
Lorenzo Forni
Luciano Giovanni Greco
Antonio Nicolo'
Gabriele Orcalli
Vincenzo Rebba
Orestis Troumpounis
Paola Valbonesi

  Management

Members of this group have published in journals such as: 
Strategic Management Journal, Organization Science, Research Policy.

Most of their research focuses on:

- Business and economic of crime
This area of research aims at investigating the economic activities and consequences of criminal organizations. The objective of this research stream is manifold. First, we want to deepen our understanding of the money laundering techniques used by criminal organizations; second, we are interested on the characteristics of firms used to infiltrate the legitimate economy, and finally we aim at studying the economic consequences of the presence of firms connected to the organized crime.

Group members: 
Michele Fabrizi
Antonio Parbonetti
Silvia Pilonato
Amedeo Pugliese

- Corporate social responsibility
The Corporate Social Responsibility (CSR) research area focuses on social innovation and new business model generation, social and environmental performance measurement, social & integrated reporting, corporate disclosure, stakeholder management & engagement and strategic philanthropy. It deploys qualitative and quantitative methods on international database as well as case analysis, surveys and interviews. It is a multidisciplinary research area merging scholars from economics and management.

Group members: 
Giacomo Boesso
Fabrizio Cerbioni
Eleonora Di Maria
Fulvio Fontini
Alberto Lanzavecchia
Silvia Pilonato
Federica Ricceri

- Economics and management of innovation
This area involves the analysis of the determinants and the economic effects of innovation and technological change. Research is mainly focused on: (i) the industrial organization of internet and high technology markets; (ii) the effects of robotics, artificial intelligence, automation and the Internet of Things on productivity and employment at firm, regional and country-level; (iii) business model innovation, i.e. how to change business models for enhancing the sustainability of the business.

Group members: 
Roberto Antonietti
Elena Bonel
Giulio Cainelli
Valentina De Marchi
Eleonora Di Maria
Roberto Grandinetti
Fabio Manenti
Silvia Rita Sedita

- Governance, disclosure and performance
The Governance, disclosure and performance research area focuses on the governance mechanisms, practices and tools aiming at improving resource allocation in profit and non-profit firms. Governance, disclosure and performance deploys quantitative methods, theoretical models, and case studies. The results of this area of research are relevant for market participants, managers of profit and nonprofit firms, as well as policy-makers.

Group members: 
Giacomo Boesso
Fabio Buttignon
Paolo Gubitta
Andrea Menini
Antonio Parbonetti
Silvia Pilonato
Amedeo Pugliese
Federica Ricceri
Elena Sapienza
Francesco Zen

- International business
This research area is devoted to the analysis of core models and concepts related to companies operating in an international environment. In particular, researchers in this area investigate how the globalization of the economy changed the division of labour. Industrial districts/clusters are the main units of analysis, and research is aimed at exploring the evolution of those models of organization of the production in face of globalization. Different theoretical models are applied, with special attention to the global value chain as a point of reference. The relationship between emergent/developing and advanced economies is of paramount importance nowadays and researchers in this area devote special attention to this issue.

Group members: 
Marco Bettiol
Giacomo Boesso
Diego Campagnolo
Fabrizio Cerbioni
Valentina De Marchi
Eleonora Di Maria
Martina Gianecchini
Gabriele Orcalli

- Knowledge management and entrepreneurship
This research area is mainly devoted to the analysis of knowledge intensive business activities (in manufacturing and services) and to the processes that lead to the creation of new ventures. Researchers working in this field adopt an ecosystem perspective to the analysis of the drivers of entrepreneurship, where of great importance is the role of universities, business incubators and the network of relationships among all the actors operating in the business ecosystem. Researchers in this area also investigate the business model of creative industries as important component in the value creation process of other related industries, such as in the case of design.

Group members: 
Marco Bettiol
Elena Bonel
Diego Campagnolo
Andrea Furlan
Martina Gianecchini
Roberto Grandinetti
Paolo Gubitta
Federica Ricceri
Silvia Rita Sedita
Alessandra Tognazzo

- Operational excellence and lean management
Research on Operational Excellence and Lean Management deals with continuous improvement of organizational processes through the application of lean principles and systematic problem solving in order to increase firm’s productivity and achieve sustainable competitive advantage. Our theoretical approach draws on routines dynamics' theories and organizational economics' theories and adopts a microfoundational approach (at the interplay between individuals and organizations). Empirically, our scope of analysis involves manufacturing processes, transactional processes in offices and processes of service firms both at the firm and at the supply chain level.

Group members: 
Andrea Furlan
Antonio Nicolo'

- Organization and human resource management
The Organization and human resource management research area gathers scholars mainly interested in studying the organizational development of firms and of their employees. Adopting both an organizational and an individual perspective, the members share the interest in understanding the entrepreneurial processes that lead to the creation of firms and the strategic processes that sustain their development both nationally and internationally. In addition, a focus on the individual professional development is part of the research aim of the group. The researches adopt both quantitative and qualitative research methodology. This research area represents a platform for academic and professional collaboration. 

Group members: 
Elena Bonel
Diego Campagnolo
Martina Gianecchini
Paolo Gubitta
Alessandra Tognazzo