Expertise

Microeconometrics
Corporate Finance
Industrial Organization
Organizational Economics

Overview

Nicolas joined the Centre for Business Taxation in September 2009. He received his graduate education at Sciences Po Paris and the European University Institute. While studying for his Ph.D. at the European University Institute he visited Toulouse School of Economics. His current research interests and activity focus on the way ownership structures impact firm performance, market structure and innovation incentives.

Please click here for Nico's personal webpage, which he updates frequently; it also contains links to his research papers.

My primary field of specialization is applied corporate finance, in particular public policy evaluation. Methodologically, my work emphasizes the importance of ownership structures in determining firm performance, competitive behaviour and innovation incentives. For my research, I combine identification strategies from public policy evaluation as well as structural modeling methods.

Back To Basics: A Model of Private and Public Investment in Basic Research and Macroeconomic Growth, joint with U. Akcigit (UPenn) and D. Hanley (UPenn);

Crowding Out at the Top: The Heterogeneous Impact of R&D Subsidies on Firm Investment;

Employment Policies in Dynastically Managed Firms, joint with Laurent Bach (Stockholm School of Economics);

The Causal Effect of Bankruptcy Law on the Cost of Finance, joint with G. Rodano (Bank of Italy) and E. Tarantino (U of Bologna);

The Deep-Pocket Effect of Internal Capital Markets, joint with X. Boutin (CREST), G. Cestone (Cass), C. Fumagalli (Bocconi) and G. Pica (CSEF), R&R Journal of Financial Economics.

Boutin, X., Cestone, G., Fumagalli, C., Pica, G.,  Serrano-Velarde, N., 2009. ‘The Deep-Pocket Effect of Internal Capital Markets’, CEPR Discussion Paper 7184

Bach, L., Serrano-Velarde, N., 2009, ‘The Power of Dynastic Commitment’, CBT Working Paper CBTWP 09/24