Assonime is the Association of Italian joint stock companies, constituting around 500 companies from a range of sectors including finance, public utilities and industry. Assonime was established in 1910 as a research centre by a distinguished group of industrialists and financiers. Its history is intertwined with that of the Italian economic system and, more recently, European integration. Both a company association and a think tank, Assonime’s goal is the creation of a healthy macroeconomic and regulatory environment for business as a whole, without sectoral interests, and with a strong commitment to opening markets and promoting European integration.

The Centre for Economic Policy Research (CEPR) was founded in 1983 to advance the quality of economic policy-making within Europe and beyond, by fostering top quality, policy-relevant economic research, and disseminating it widely to decision-makers in the public and private sectors. Drawing together the expertise of its over 900 Research Fellows and Affiliates, CEPR initiates and coordinates research activities, and communicates the results quickly and effectively to decision makers around the world. CEPR organises approximately 80 meetings a year, and produces over 600 Discussion Papers, reports and books. The Centre is an independent, non-profit organization and takes no institutional policy positions. 

The Coordinator

Colin Mayer is the Peter Moores Professor of Management Studies at the Saïd Business School at the University of Oxford.  He is a Professorial Fellow of Wadham College, and an Honorary Fellow of Oriel College and St Anne’s College.  He is a Fellow of the British Academy, the Centre for Economic Policy Research, the European Corporate Governance Institute, and the Royal Society of Arts.  He is a member of the UK Competition Appeal Tribunal and the UK government Natural Capital Committee.

Colin was the Peter Moores Dean of the Saïd Business School between 2006 and 2011, and the first Director of the Oxford Financial Research Centre between 1998 and 2005.  He was a Harkness Fellow at Harvard University, a Houblon-Norman Fellow at the Bank of England, the first Leo Goldschmidt Visiting Professor at the Solvay Business School, Université de Bruxelles, and has had visiting positions at Columbia, MIT and Stanford universities.

For RELTIF, he is also Author and member of the Policy Group.

The Authors

Alberto Giovannini is Chairman of Unifortune SGR Spa, an asset management company based in Milan and Chairman of MTS SpA, which provides electronic fixed income trading services. He also serves on the boards of Impregilo SpA, DTCC Derivatives Repository Ltd and NetOTC Holdings. He is a member of the Advisory Scientific Committee of the European Systemic Risk Board, and co-chairs one of the working groups of ESRB.  Between 1996 and 2006 he was  Chairman of the Consultative Group on the Impact of the Euro on European Capital Markets (the so-called Giovannini Group), and recently co-chaired the High Level Expert Group on Long-Term and SME Financing at the EU Commission. 

Alberto was Deputy General Manager of Banca di Roma from 1999 to 2001, and Senior Strategist and Senior Advisor of Long-Term Capital Management between 1995 and 1999.  Previously, he was the Jerome A. Chazen Professor of International Business at Columbia University, where he taught and conducted research from 1983 to 1995.  While a professor at Columbia, he was also an NBER Research Associate, a CEPR Research Fellowand a consultant to the IMF and the World Bank.

Stefano Micossi is Director General of Assonime, and a member of the board of CEPS, BNL – BNP Paribas and CIR Group. Stefano is a Professor at the College of Europe, and Chairman of Scientific Council of the LUISS School of European Political Economy. He is a former Director General for Industry at the European Commission (1994-1998). He has contributed a number of articles to Italian and international journals on macroeconomics and monetary economics, industrial policy, European institutions and decision-making. He is also co-editor and author of several volumes on the EMS, on adjustment and integration in the world economy, on the Italian economy, and on inflation in Europe.  

Carmine Di Noia is Deputy Director General and Head of the Capital Markets and Listed Companies Unit of Assonime. He is Board member of Borsa Italiana SpA, Chairman of the technical secretariat of the Italian Corporate Governance Committee, and chairman of the Policy Committee at EuropeanIssuers. He teaches Financial Market Law and Regulation at the University Luiss-Guido Carli in Rome, Italy. He holds a Graduate degree in Economics from the University of Rome La Sapienza, a Ph.D. in Economics from the University of Pennsylvania and a doctorate in Economic Theory and Institutions from the University of Rome Tor Vergata.

Marco Onado is Senior Professor at the Department of Finance of Bocconi University, having previously been Professor of Banking at the Universities of Modena and Bologna. He was Commissioner of Consob from 1993 to 1998. Marco has been columnist for  Il Sole 24 Ore and now writes for Il Fatto Quotidiano. He is a Trustee of the International Financial Reporting Standards in London. His main fields of interest are financial systems, stability and regulation.

Marco Pagano is Professor of Economics at University of Naples Federico II, President of the Einaudi Institute for Economics and Finance, Director of the Centre for Studies in Economics and Finance, and Research Fellow at CEPR, the European Corporate Governance Institute, the Center for Financial Studies, and the European Economic Association. He holds a B.A. in Economics from Cambridge University and a Ph.D. in Economics from MIT, and taught at Bocconi University, Imperial College and the University of Salerno. He is Chair of the Advisory Scientific Committee of the European Systemic Risk Board (ESRB).

Andrea Polo is an Assistant Professor of Finance at Universitat Pompeu Fabra in Barcelona and an Affiliated Professor at the Barcelona Graduate School of Economics. He has been a Research Fellow of the Oxford Institute for Global Economic Development and of the Rock Center for Corporate Governance at Stanford University. In 2014 he received a two-year fellowship from the AXA Foundation to conduct research on the governance of corporations. Andrea holds an MPhil in Finance from the University of Cambridge and a DPhil in Financial Economics from the University of Oxford.