Foto del docente

Antonio Carlo Francesco Della Bina

Assistant professor

Department of Management

Academic discipline: SECS-P/09 Corporate Finance

Curriculum vitae

Antonio Carlo Francesco Della Bina
Department of Management, University of Bologna
Via Capo di Lucca, 34 40126 Bologna (Italy)
School of Economics, Management and Statistics¬Rimini Campus, University of Bologna
Via Angherà , 22 47921 Rimini (Italy)
Email: antonio.dellabina@unibo.it
Webpage


Education:
2004-2007
Ph.D. in Finance, Department of Management, University of Bologna

2004-2005
Visiting scholar at Haas School of Business, University of California, Berkeley (03/11/2004-04/07/2005).
Sponsor Faculty: Prof. Jonathan Berk

2003-2006
Research Grant in Behavioral Corporate Finance, Department of Management, University of Bologna
(03/11/2003¬31/10/2006). Supervisor: Prof. Marco Bigelli

2003
Degree in Economics of Tourism, Faculty of Economics-Rimini campus, University of Bologna.

Academic Positions:

 

April 2014

National Scientific Qualification (ASN) to function as Associate Professor for competition sector 13/B4 Financial Markets and Institutions

 

November 2009-Present
Tenured Assistant Professor in Corporate Finance, Department of Management, Faculty of Economics-
Rimini campus, University of Bologna.

 

November 2006-November 2009

Assistant Professor in Corporate Finance, Department of Management, Faculty of Economics-Rimini campus, University of Bologna.

 

Publications:
Refereed Articles and Book Chapters (English)

"The Euro-Dollar exchange rate: how traders’ behaviour has been affected by the 2007-2008 financial crisis." (with G. Cagliesi and M. Tivegna), Economic Notes, (ISSN: 1468-0300), 2016, Vol. 45, Issue 2, pp. 139-177.

"The determinants of risk premia on the Italian stock market: empirical evidence on common factors in asset pricing models"(with P. Brighi and S. d'Addona), Economic Notes, (ISSN: 1468-0300), 2013, Vol. 42, Issue 2, pp. 103-133,

"Too small or too low? New evidence on the 4-factor model"(with P. Brighi and S. d'Addona), in Bank Behavior in Modern Banking, J. de Guevara and J. Pastor (Eds.), Palgrave Macmillan, UK, (ISBN: 978-11-3700-185-6), 2013 pp. 176-199.

"Is Equity Research Valuable for Investors? An Empirical Investigation of the Italian Peculiarity", Corporate Ownership and Control Journal, (ISSN: 1727-9232) vol. 6, n. 4, 2009, pp. 164-175.

"The Efficiency of the Italian Stock Exchange: Market Reaction Following Changes in Recommendations" (with E. Cervellati and P. Pattitoni). Corporate Ownership and Control Journal, (ISSN 1727-9232) vol. 5, n. 2, Special Issue, 2008, pp. 432-448.

"Investment Value of Recommendations in the Italian Stock Market" (with E. Cervellati and P. Pattitoni), Corporate Ownership and Control Journal, (ISSN 1727-9232) vol. 4, n. 4, 2007, pp. 78-91.

"Equity Research Credibility in the Italian Stock Market" (with E. Cervellati and P. Pattitoni), Corporate Ownership and Control Journal, (ISSN 1727-9232) vol. 4, n. 4, 2007, pp. 59-77.

Refereed Articles and Book Chapters (Italian)

"Strategie e Pianificazione Finanziaria nell'Ottica di Basilea" (with P. Brighi), in: Oltre Basilea 2.Nuove Sfide Competitive per le PMI, (eds. P. Brighi and S. Torrisi), Bonomia University Press (ISBN: 978-88-7395-476-7), Bologna, 2009, pp. 164-175.

"Accuratezza e ottimismo nelle stime degli utili per azione. Evidenze per il mercato azionario Italiano" (with E. Cervellati, P. Pattitoni and R. Tasca), Banca Impresa e Società , il Mulino (ISSN: 1120-9453) vol. 1, 2008, pp. 113-140.

"La Trasmissione delle Informazioni Price Sensitive: Efficienza di Mercato ed Implicazioni Regolamentari" (with E. Cervellati and P. Pattitoni), Banche e Banchieri, (ISSN 0390-1378) vol. 4,2007, pp. 282-294.

"Strategie di Portafoglio Basate sul Consenso Medio degli Analisti Finanziari" (with E. Cervellati and P. Pattitoni), Banche e Banchieri, (ISSN 0390-1378), vol. 6, 2005, pp. 477-492.

"Il Valore dell'Informazione Prodotta dagli Analisti Finanziari: la Reazione del Mercato Azionario Italiano ai Cambi di Raccomandazione" (with E. Cervellati and S. Giulianelli), Banca Impresa e Società , il Mulino (ISSN 1120-9453) vol. 2, 2005, pp. 213-248.

"Analisti Finanziari: Conflitti di Interesse o Eccessivo Ottimismo. Evidenza Empirica per il Mercato Italiano delle IPO (with E. Cervellati), Banca Impresa e Società , il Mulino (ISSN 1120-9453) vol. 2, 2004, pp. 367-399.

 

Proceedings and Working Papers:

"Are U.S. analysts’ recommendation changes for cross-listed stocks more informative than local analysts’?" (with A. Amel-Zadeh), e-proceedings World Finance Conference, Cagliari, 26-28 July 2017, (ISBN: 978-989-98816-3-8)

"Are U.S. analysts’ recommendation changes for cross-listed stocks more informative than local analysts’?" (with A. Amel-Zadeh), Saïd Business School Research Paper 2016-28, December 2016, University of Oxford.

"Euro-Dollar Exchange rate and news: market behaviour before and after the 2007-2008 financial crisis."(with  G. Cagliesi  and M. Tivegna), e-proceedings World Finance Conference, Venice, July 2-4, 2014. (ISBN: 978-989-98816-1-7)

"Market response to news: rationality and conformism in a Euro-Dollar exchange rate model." (with  G. Cagliesi  and M. Tivegna), Center for Economic Performance, Governance & Regulation (CEPGR) N-2/2014, University of Greenwich.

"Long-run evidence using multifactor asset pricing models" (with P. Brighi and S. d'Addona), CREI n. 9/2011, Centre for Research on the Economics of Institutions, University of Rome 3, (ISSN 1971-6907).

"Too Small or Too Low? New Evidence on the 4-Factor Model (with P. Brighi and S. d'Addona), RCEA Working Paper 31-2010, University of Bologna.

"Earnings Forecast Bias and Accuracy in the Italian Stock Market" (with E. Cervellati, P. Pattitoni and R. Tasca), NEWFIN Working Paper 02-2007, Center for Applied Research in Finance, University L. Bocconi, Milan, pp. 1-33.

"Analisti Finanziari ed Eccessivo Ottimismo. Evidenza Empirica da Mercato Italiano delle IPO" (with E. Cervellati), Proceedings of Workshop: Il Comportamento degli Operatori nei Mercati Finanziari ed Assicurativi, Ancona 28 October 2005, CLUA Edizioni, (ISBN 978-88-87965-45-2), 2007, pp. 59-74.

"Analisti Finanziari: Conflitti di Interesse o Eccessivo Ottimismo. Evidenza Empirica dal Mercato Italiano delle IPO, Documenti per la Discussione, Biblioteca Bigiavi Working Paper 188-2003, University of Bologna.

Teaching:
2006-2013
Corporate Finance (Undergraduate), Faculty of Economics-Rimini Campus, University of Bologna.

2008-2015
Corporate Finance Advanced (Graduate), Faculty of Economics, Rimini Campus, University of Bologna.

2010-2015

Empirical Financial Economics (Undergraduate), Faculty of Economics-Rimini Campus, University of Bologna.

2011-2013
Corporate Finance (Undergraduate), Faculty of Economics, University of Perugia.

Conferences:

2018

"Do U.S. Analysts Improve the Local Information Environment of Cross-Listed Stocks? Evidence from Recommendation Revisions" (with A. Amel-Zadeh), to be presented

-American Accounting Association (AAA) Annual Meeting, Washington DC, 4-6 August 2018

-European Accounting Association (EAA) Annual Congress, Milan, University L. Bocconi, 30 May-1 June 2018.

-European Financial Management Association (EFMA) Conference, Milan, Catholic University, 27-30 June 2018.

2017

"Are U.S. Analysts’ Recommendation Changes for Cross-Listed Stocks More Informative than Local Analysts’?" (with A. Amel-Zadeh)

-Financial Management Association (FMA) European Conference, Lisbon, 22-23 June 2017. (presenting author)

-International Finance and Banking Society (IFABS) Conference, Oxford, 15-17 July 2017.

-World Finance Conference (WFC), Cagliari, 26-28 July 2017. (presenting author)

2016

"Market response to news: Rationality and conformism in an Euro-Dollar exchange rate model. Implications for day-trading" (with G. Cagliesi and M. Tivegna), The Italian Economic Association, 57th Annual Conference,  University “L. Bocconi”, Milan, Italy, 20-22 October 2016.

2014  

"Euro-Dollar exchange rate and news: market behaviour before and after the 2007-2008 financial crisis" (with G. Cagliesi and M. Tivegna):

-Financial Management Association (FMA) European Conference, Maastricht, 11-13 June 2014. (presenting author)

-European Financial Management Association  (EFMA) Conference, Roma, 25-28 June 2014. (presenting author)

-World Finance Conference (WFC), Venezia, 2-4 July 2014. (presenting author)

2012
"Long-run evidence using multifactor asset pricing model" (with P. Brighi and S. d'Addona), XIX Multinational Finance Society (MFS) Annual Conference, Krakow, 24-26 June 2012, (presenting author)

"Market response to news: Rationality and conformism in an Euro-Dollar exchange rate model. Implications for day-trading" (with G. Cagliesi and M. Tivegna), XIX Forecasting Financial Markets (FFM) Annual Conference, Marseille, 23-25 May 2012, (presenting author)

2011
"Too Small or Too Low? New Evidence on the 4-Factor Model" (with P. Brighi and S. d'Addona), European Association of University Teachers in Banking and Finance ('Wolpertinger' Annual Conference), Valencia, 31 August-4 September 2011.

"Too Small or Too Low? New Evidence on the 4-Factor Model" (with P. Brighi and S. d'Addona), II World Finance Conference (WFC), Rhodes, Greece, 23-25 June 2011, (presenting author).

2007
"The Reaction of the Italian Stock Market to Recommendations Revisions" (with E. Cervellati and P. Pattitoni), Financial Management Association (FMA) European Conference, Barcelona, 31 May 2007, (presenting author).

"Value of Analyst Recommendations: Why international Evidence Finds an Italian Anomaly that Does not Exist" (with E. Cervellati and P. Pattitoni) Financial Management Association (FMA) American Annual Meeting, Orlando, 17-20 October 2007.

"Earnings Forecasting Bias and Accuracy in the Italian Stock Market" (with E. Cervellati, P. Pattitoni and R. Tasca), European Financial Management Association (EFMA) Conference, Wien 27-29 June 2007.

2006
"The Reaction of the Italian Stock Market to Recommendations Changes" (with E. Cervellati and P. Pattitoni) Financial Management Association (FMA) European Conference, Stockholm, 8-9 June 2006, (presenting author).

"The Reaction of the Italian Stock Market to Recommendations Changes" (with E. Cervellati and P.Pattitoni) European Financial Management Association (EFMA) Conference, Madrid 27-30 June 2006.

2005

"Portfolio Strategies Based on Analysts' Consensus" (with E. Cervellati and P. Pattitoni), International Conference on Finance, Copenhagen, 4 September 2005.

"Financial Analysts: Market Reaction to Recommendations Changes (with E. Cervellati and S. Giulianelli), International Conference on Finance, Copenhagen, 4 September 2005.

"Financial Analysts: Market Reaction to Recommendations Changes" (with E. Cervellati and S. Giulianelli), Association Francaise de Finance (AFFI) Annual Meeting, Paris 27-28 June 2005.

Summer Schools:
2005
Summer School in Econometrics-CIDE Bertinoro, V Round: Vector Autoregressive Models, Bertinoro,(Forlì), 19-24 September 2005.

Projects Participation:
2012-2013 Unit Researcher for: "A news approach to trading in the exchange rate market: behavior, information tools and network features of institutional and non-professional traders", Department of International Business and Economics, University of Greenwich, Grant Reference: RAE-BUS-01/12, (Principal investigator: Prof. Gabriella Cagliesi)

Grants:
2007, 2008, 2010, 2011, 2012, 2013,2014, 2015
RFO Grants, Department of Management, University of Bologna

2005
Marco Polo Research Fellowship, Department of Management, University of Bologna

Affiliations:
FMA (Financial Management Association)
EFMA (European Financial Association)
RCEA (Rimini Center for Economic Analysis)

Language Skills:
Bilingual French (Mother Tongue)-Italian, English (Fluent)