Maria-Teresa Marchica

Maria-Teresa Marchica joined the Manchester Business School as a lecturer (assistant professor) in finance in September 2005. She has a PhD in Economics from the University of York where she also worked as a teaching fellow for two years. She took her MSc in Economics and Finance at the University of York and her BA in Economics at the University of Trento, Italy. She is currently a member of the American Finance Association, European Economic Association, European Finance Association, Financial Intermediation Research Society, Financial Management Association, Society for Financial Studies, and Western Finance Association.

Research Interests

Empirical corporate finance and corporate governance; investment and risk-taking decisions; private companies; industrial network; shareholders' incentives, banking.

Prizes

• BlackRock/Brennan Best Paper-Runner Up Award
  Marchica, Maria (Recipient) & Mura, Roberto (Recipient), 2012

• Undergraduate Academic of the Year Award
  Marchica, Maria (Recipient), 2013

• EFM2017 Readers' Choice Best Paper Award in the European Financial Management
  Marchica, Maria (Recipient) & Mura, Roberto (Recipient), 2018

Publications

• The Effect of ‘Underwriter–Issuer’ Personal Connections on IPO Underpricing
  Khatami, S. H., Marchica, M-T. & Mura, R., 18 May 2022, (Accepted/In press) In: European Journal of Finance.
• Access to Collateral and The Democratization of Credit: France's Reform of The Napoleonic Security Code
  Aretz, K., Campello, M. & Marchica, M., Feb 2020, In: Journal of Finance. 75, 1, p. 45-90
• Owners' portfolio diversification and firm investment: Theory and evidence from private and public firms
  Lyandres, E., Marchica, M., Michaely, R. & Mura, R., 2019, In: Review of Financial Studies. 32, 12, p. 4855–4904
• Financial Flexibility and Investment Ability Across the Euro Area and the UK
  Ferrando, A., Marchica, M. & Mura, R., 2017, In: European Financial Management. 23, p. 87-126
• CEO gender, corporate risk-taking, and the efficiency of capital allocation
  Faccio, M., Marchica, M. & Mura, R., Aug 2016, In: Journal of Corporate Finance. 39, p. 193–209
• Rating Friends: The Effect of Personal Connections on Credit Ratings
  Khatami, S. H., Mura, R. & Marchica, M., Aug 2016, In: Journal of Corporate Finance. 39, p. 222-241 20 p.
• Shareholder diversification and bank risk-taking
  Garcia-Kuhnert, Y., Marchica, M. T. & Mura, R., 28 Mar 2015, In: Journal of Financial Intermediation. 24, 4, p. 602-635 33 p.
• Shareholder Diversification, Bank Risk-Taking and Capital Allocation Efficiency
  García-Kuhnert, Y., Marchica, M-T. & Mura, R., Mar 2015, 48 p.