Stefano Gatti

Stefano Gatti is an Antin IP Professor of Infrastructure Finance at the Department of Finance at Università Bocconi.

At SDA Bocconi, he has been the Director of the Full Time MBA and the International Teachers’ Program Director. He also teaches at SDA Bocconi Asia Center in Mumbai. He has conducted research, consulting and education projects for several financial and non-financial institutions in Italy and abroad. He has been a consultant for major multilateral development banks in the field of project and infrastructure finance.

His research activities focus on corporate finance and investment banking. Currently, he is focusing on four main topics: corporate financial advisory, infrastructure and project finance, corporate restructuring and private equity.

He is the author of a number of books and articles in his research fields. His works have been published in the European Journal of Operational Research, Financial Management, the Journal of Money Credit and Banking and the Journal of Banking and Finance. He is a board member of Economia & Management and was Chairman of the European Financial Management Association in 2005 and 2009. He has taught at Fudan University Shanghai (PRC) and has won the Best MBA Teacher award for 15 years in a row.

Stefano earned a degree in Business Administration from Università Bocconi and the ITP (International Teachers Programme) at Manchester Business School in 2003.

Publications

Books

• Project Finance in Theory and Practice, Second Edition, Elsevier, Academic Press, Burlington MA, 2012
• Project Finance in Theory and Practice, Elsevier, Academic Press, Burlington MA, 2007
  Manuale del project finance, Roma, Bancaria, 2006
• Structured Finance (coauthored with Stefano Caselli), Springer-Verlag, Heidelberg, London, New York, 2005
• Banking for family business (coauthored with Stefano Caselli), Springer-Verlag, Heidelberg, London, New York, 2005
• Corporate Lending, (con S.Caselli), Roma, Bancaria Editrice, 2003
• Venture Capital - A Euro-System Approach, (con S.Caselli), London-Berlin, Springer Verlag, 2003

Articles

• Government policies to enhance access to credit for infrastructure-based PPPs: an approach to classification (with R. Della Croce, M. Hellowell, V.Vecchi), Public Money and Management (forthcoming) 
• R. Della Croce, Gatti S. , "Financing infrastructure – International trends", OECD Financial Market Trends, n.1/2014
• Gatti S., "Government and Marked-based Instruments and Incentives to Stimulate Long-term Investment Finance in Infrastructure", OECD  Working Papers on Finance, Insurance and Private Pensions, No. 37, OECD Publishing
• Servizi idrici e project finance: due ambiti inconciliabili? (con G. Canitano, L. Danesi, M.Passarelli, P. Peruzzi), Economia & Management (forthcoming)
• Risk analysis with contractual default. Does covenant breach matter? (with E.Borgonovo), European Journal of Operational Research, vol. 230, n. 2, 2013
• Does the private sector get an excessive return from investments in health care infrastructure? Evidence from the UK (with M.Hellowell and V.Vecchi), Health Policy, vo. 110, n. 2, 2013
• Arranger Certification in Project Finance (with W.L.Megginson and S.Kleimeier), Financial Management, volume 42, n. 1, 2013
• Risk management in Project Finance (with S.Caselli), in Baker K. and English P. (eds.) “Capital Budgeting Valuation: Financial Analysis for Today’s Investment Decisions”, Wiley, 2011
• Project Finance (with S. Caselli and A. Steffanoni), in Cumming D. (ed.), “Handbook of Entrepreneurship”, Oxford University Press, 2011
• Project Finance Collateralized Debt Obligations: An Empirical Analysis of Spread Determinants (with S.Caselli, F. Corielli and V.Buscaino), European Financial Management, Volume 18, Issue 5, Novembre 2012
• Corielli F., Gatti S ., Steffanoni A., "Risk Shifting through nonfinancial contracts. Effects on loan spreads and capital structure of project finance deals", Journal of money, credit and banking, vol. 42, No. 7, 2010
• Borgonovo E., Gatti S., Peccati L., What Drives Value Creation in Investment Projects? An Application of Sensitivity Analysis to Project Finance Transactions, European Journal of Operational Research, vol. 205, No. 1, 2010
• Bonetti V., Caselli S., Gatti S., Offtaking agreements and how they impact the cost of funding for project deals. A clinical case study of the Quezon Power Ltd Co., Rewiew of Financial Economics, Vol. 19, No. 2, 2010
• Gatti S. and C. Battistini, "Hedge Funds’ Activism: A new trend of convergence toward private equity in public firms", in D. Cumming (editor), Companion to Venture Capital, John Wiley and Sons, 2010
• Are Venture Capitalists a Catalyst for Innovation or Do they Simply Exploit it?” (with Stefano Caselli), European Financial Management, vol. 15, 1, 2009
• Pricing Final Indemnificaton Payments to Private Sponsors in Project- Financed Public-Private Partnerships: An Application of Real Options Valuation (with S.Caselli and A.Marciante), Journal of Applied Corporate Finance, Vol. 21 No. 3, 2009
• The Sensitivity of Loss Given Default Rate to Systematic Risk: New Empirical Evidence on Bank Loans (with S.Caselli and F. Querci), in Journal of Financial Services Research, Vol. 34, N. 1, August 2008
• Measuring Value at Risk in project finance transactions (Università Bocconi – Newfin - 2007)
• Managing M&A risks using collars, earnouts and CVR’s (2006)