Curriculum Vitae

Vincenzo Capizzi is SDA Professor of Banking and Finance at SDA Bocconi School of Management. He is Full Professor of Banking and Finance at University of Eastern Piedmont, Department of Economics and Business Studies (Novara).

At SDA Bocconi, he served as Director of the Executive Master in Corporate Finance & Banking from 2009 to 2012. He has directed programs for senior executives in several banks and other financial firms. He coordinated numerous workshops, seminars and research projects in Italy, South America and Asia with the most relevant players of the banking industry. He frequently manages board inductions on corporate banking and non-performing loans.

His research activities focus mainly on banking and corporate finance, with particular focus on M&A deals, corporate turnaround, leveraged acquisitions, venture capital and start-up financing, corporate valuation and investment banking. Currently, he is working on two main topics: the analysis of financial institutions’ economics (performance and efficiency measurement of banks, private equity funds and other financial intermediaries) and the role of business angels and crowdfunding in the equity financing industry.

He is the author of numerous books and articles on the subject. His latest book deals with corporate crises and debt restructuring procedure. His works have been published in Venture Capital, International Finance and Banking, Journal of Governance and Regulation, Corporate Ownership and Control, Bancaria and Economia & Management, among others. He is member of the editorial board of Journal of Financial Management, Markets and Institutions and referee for many specialized magazines. He won many awards for his activity in SDA Bocconi: Best MBA SDA Professor (2006), Best Master Programs SDA Professor (2007), Best Custom Programs Coordinator Executive Education Custom Programs (Banks and Financial Institutions Division, SDA Bocconi in 2008 and 2010) and Best Reviewer for “Economia & Management” (2012). He is Visiting Scholar at Stevens Institute of Technology (Hoboken, NJ). He is Board Executive Director and Head of the Research Department at IBAN (Italian Business Angels Network). He is the managing partner of an advisory company specialized in M&A deals, debt & equity fundraising, corporate restructuring, and sits in the board of many companies, listed and not listed, as non-executive director.

Vincenzo earned a Degree in Business Administration and a Ph.D. in Business Administration (specialization in Corporate Finance) both from Bocconi University. He has two children and loves playing and watching basketball.

Publications

Books and Monographs

  • “Competitive frontiers in equity crowdfunding: the role of venture capitalists and business angels in the early stage financing industry”, (with Carluccio E.), in Bottiglia R., Pichler F. (eds.), Crowdunding for SMEs: a European perspective, Palgrave Macmillan, Basingstoke, UK, 2017 (forthcoming)
  • “I fondi comuni di investimento e le Sicav“, in Banfi A., Nadotti L., Tagliavini G., Valletta M., (a cura di), Economia del Mercato Mobiliare, Isedi, Torino, 2016
  • “Crisi d’impresa e ristrutturazione del debito. Procedure, attori, best practice”, (ed.), Egea, Milano, 2014
  • “La domanda e l’offerta di servizi bancari a supporto dei processi di internazionalizzazione delle imprese”, in Brusoni M., Vecchi V., (eds.), L’internazionalizzazione delle imprese, Egea, Milano, 2012
  • “Determinants and Effects of Venture Capital and Private Equity Investments on Italian SMEs: Evidence from Italian Puzzle”, (with. R. Giovannini, V. Pesic), in F. Fiordelisi, P. Molyneux, D. Previati (eds.), New Issues in Financial and Credit Markets , Palgrave MacMillan, Basingstoke, UK, 2010
  • “Business angels e informal venture capital in Italia”, (with R. Giovannini), Bancaria, Roma, 2010
  • "Economia e gestione della banca", (con A.Biffi, L.Nadotti, M.Valletta), McGraw-Hill, Milano, 2010.
  • "Business angels e informal venture capital in Italia", (con R.Giovannini), Bancaria, Roma, 2010
  • “Determinants and Effects of Venture Capital and Private Equity Investments on Italian SMEs: Evidence from Italian Puzzle”, (with. R. Giovannini, V. Pesic), in F. Fiordelisi, P. Molyneux, D. Previati (eds.), New Issues in Financial and Credit Markets , Palgrave MacMillan, Basingstoke, UK, 2010
  • “La percezione del rapporto banca-impresa nella Provincia di Novara. Il punto di vista delle banche”, in M. Valletta, (a cura di), Le aggregazioni bancarie e l’evoluzione del rapporto banca-impresa nella Provincia di Novara, Giuffrè Editore, Milano, 2009
  • “Aziende quotate e buyback azionari: politiche di remunerazione degli azionisti o meccanismi di segnalazione?”, (con S. Bonini, R. Giovannini), in M. Brogi, (a cura di), Banca, Mercati e Risparmio. Saggi in onore di Tancredi Bianchi, Vol. 3, Bancaria, Roma, 2009
  • “I principali lineamenti della teoria del mercato dei capitali”, (con E. Bocchialini, G.M. Chiesi), in G. Gandolfi, (a cura di), Scelta e gestione degli investimenti finanziari, Bancaria, Roma, 2009
  • “Le tecniche di selezione dei singoli investimenti mobiliari: le obbligazioni”, (con D. Drago, G. Gandolfi, M. Valletta), in G. Gandolfi, (a cura di), Scelta e gestione degli investimenti finanziari, Bancaria, Roma, 2009
  • “L’investment banking in Italia”, Bancaria, Roma, 2007
  • “Leveraged acquisitions: technical and financial features”, in Caselli S., Gatti S., (eds.), Structured Finance. Techniques, Products and Market, Springer-Verlag, Berlin-Heidelberg, New York, 2005
  • “The constitution of a venture capital company: the case of Italian closed-end funds”, in Caselli S., Gatti S., (eds.), Venture Capital. A Euro-System Approach, Springer-Verlag, Berlin-Heidelberg, New York, 2004
  • “Gli intermediari finanziari e i servizi a supporto delle acquisizioni aziendali”, in Forestieri G., (a cura di), Corporate & Investment Banking – Seconda Edizione, Egea, Milano, 2003
  • “Le attività e i servizi originati dalle ristrutturazioni e dai riassetti societari”, in Forestieri G., (a cura di), Corporate & Investment Banking – Seconda Edizione, Egea, Milano, 2003
  •  “The Cost of Capital and the International Competitiveness of Italian Companies” (with A. Salvi, A. Sironi), Egea, Milano, 2003
  • “Costo del Capitale e operazioni di investment banking”, Egea, Milano, 2003
  • "Le caratteristiche dell'attività di advisoring: le condizioni dell'offerta", in  C. Zara, Le banche e l’advisoring nella finanza straordinaria, Bancaria Editrice, Roma, 2001
  • “Leasing, factoring, credito al consumo La valutazione della performance degli operatori” (con P. Ferrari), Egea, Milano, 2001
  •  “Gli intermediari finanziari e la finanza straordinaria: le operazioni di M&A”, in G. Forestieri (a cura di), Corporate & Investment Banking, Egea, Milano, 2000

Articles in international journals

  • “The returns of business angels’ investments and their major determinants”, Venture Capital: an international journal of entrepreneurial finance, Vol. 17, No. 4, 2015
  • “The role of Investment Banking in M&A Operations: Empiric Pre and Post Lehman Evidence" (with Giovannini R.), International Finance and Banking, Vol. 1, No. 2, December, 2014
  • “Linear and nonlinear determinants of the performance of informal venture capitalists’ investments. An empirical analysis”, Journal of Governance and Regulation, Special Conference Issue, April, 2013
  •  “In search for the Determinants of Share Repurchases Policies in the Italian Equity Capital Market: an Event Study” (with Giovannini R.), Corporate Board Journal, Vol. 7, 2011
  •  “Does Corporate Governance really matters for firm performance? Evidence from Italian IPOs market”, (with Giovannini R., Pesic V.), Journal of Corporate Ownership and Control, vol. 9, 2011
  • “The Role of Venture Capital and Private Equity for Innovation and Development of SMEs: Evidence from Italian Puzzle”, (with Giovannini R., Pesic V.), Journal of Applied Finance and Banking, vol. 1, no. 3, 2011
  • “What Drives the Returns of Business Angels’ Investments? An Empirical Analysis of the Italian Informal Venture Capital Market”, International Journal on GSTF Business Review, vol. 1, no. 2, October, 2011
  • “The Role of Venture Capital and Private Equity for Innovation and Development of SMEs: Evidence from Italian Puzzle”, (with Giovannini R., Pesic V.), Journal of Applied Finance and Banking, vol. 1, no. 3, 2011
  • “Does Corporate Governance really matters for firm performance? Evidence from Italian IPOs market”, (with Giovannini R., Pesic V.), Journal of Corporate Ownership and Control, vol. 9, 2011
  • “In search for the Determinants of Share Repurchases Policies in the Italian Equity Capital Market: an Event Study” (with Giovannini R.), Corporate Board Journal, Vol. 7, 2011
  • “Investment banking services: ownership structures, financial advisory and corporate governance models” (with G.M. Chiesi, R. Giovannini), International Journal of Business Administration, Vol. 1, November, 2010 (forthcoming)
  • Secondary Buyouts, Private Equity and Firms’ Corporate Governance”, (with R. Giovannini, V. Pesic), Journal of Corporate Ownership and Control, vol. 6, 2009
  • “Testing Share Repurchases Hypotheses: a Conditional Study”, (with S. Bonini, M. Lombardi, R. Mazzei), Journal of Corporate Ownership and Control, vol. 5, 2008

Articles in italian journals

  • “Il contributo del private equity nei processi di crescita e ristrutturazione: quali evidenze dai casi di delisting” (con Caselli S., Giovannini R., Pesic V.), Bancaria, n. 12, 2012
  • “Assetti proprietari, modelli di governance e domanda di servizi di investment banking”, (con G.M. Chiesi), Economia & Management, n. 5, 2008
  • “Venture capital pubblico-privato: stato dell’arte, condizioni e opportunità di sviluppo”, (con M. Brusoni, V. Vecchi), Economia & Management, n. 6, 2008
  • “Perché le operazioni di buyback sono sempre più frequenti? Un’analisi empirica sul mercato azionario italiano”, (with S. Bonini, M. Lombardi, R. Mazzei), Economia & Management, n. 2, 2007
  • “L’investment banking in Italia: principali problematiche e probabili direttrici di sviluppo”, Marketing e Finanza, n. 3, 2007
  • “Investment banking: un settore con elevata varietà di prodotti, operatori e business model”, Economia & Management, n. 1, 2006
  • “L’offerta di servizi di corporate finance: le specificità del contesto italiano”, Finanza Marketing Produzione, n. 2, 2006