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LEONARDO ETRO

SDA Associate Professor of Practice
Department of Finance

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Courses a.y. 2021/2022

10288 VALUE BASED MANAGEMENT
10327 ENTREPRENEURSHIP LAB
10398 CORPORATE VALUATION
11063 INTERNATIONAL FINANCE
11304 VALUTAZIONE D'IMPRESA [CORPORATE VALUATION]
11326 CORPORATE FINANCE
11697 CORPORATE FINANCE AND BUSINESS VALUATION
11968 MANAGING GROWTH AND EVALUATION PERFORMANCE
11994 MERGERS & ACQUISITIONS
12073 CORPORATE FINANCE
20156 INTERNATIONAL FINANCE
20198 FINANZA AZIENDALE E DEI MERCATI / FINANCIAL MANAGEMENT AND FINANCIAL MARKETS
30017 FINANZA AZIENDALE / CORPORATE FINANCE
30185 VALUTAZIONE DELLE AZIENDE / BUSINESS VALUATION

Courses previous a.y.


Biographical note

Leonardo Etro is Associate Professor of Practice in Corporate Finance at SDA Bocconi. He is a contract Professor of Corporate Finance & Business Valuation at Università Bocconi.

At SDA Bocconi, he has directed the Accounting, Control, Corporate and Real Estate Finance Department and he was Director of International Development. He served also as a Board Member in 2015-16 and 2018-20. He is currently the Director of the Executive Master in Financial Management and the Executive Master in Finance, Banking and Real Estate programs. He is the Director of Executive Program in Corporate Finance. He is the Scientific Director of the Best Performance Award, the annual SDA Bocconi prize (in partnership with JP Morgan, PwC, EQT Private Equity, Bureau Van Dijk, Havas) dedicated to Italian companies which have distinguished themselves for excellence in sustainable development. He has conducted numerous research, education and consulting projects with the leading multinationals operating in the fashion, food, pharma, manufacturing, E-commerce and banking industries.

His research activities focus on issues of a financial nature such as M&A and restructuring, private equity & venture capital, capital structure and company valuation. Currently, his research focuses on three main areas: the first is the study of optimal capital structure for listed Italian and European companies; the second is the relationship between corporate governance and company value; the third is aimed at determining how to create value in M&A Cross Border transactions.

He is the author of numerous books and articles on his topics of interest. His works have been published in leading national and international journals including Applied Financial Economics, the Journal of Management Development, the International Journal of Finance and Banking, Thunderbird International Business Review and Economia & Management. He has won many awards for his research such as the prize for Best Innovation in Research Projects, Divisione Claudio Dematté Research in 2014. In 2015-2016, he won the Bocconi Teaching Award. He serves on the Advisory Board of various Italian SMEs.

Leonardo earned a degree with Honors in Business Administration from Università Bocconi and an ITP (International Teachers Programme) organized by Kellogg School of Management, Northwestern University (Chicago). He is a Faculty Member of SDA Bocconi Asia Center in Mumbai, India. He has two great passions: skiing and travelling to discover new cultures and emotions.


Academic CV

Leonardo Luca Etro

 

SDA Bocconi Office: Via Sarfatti 10, Milano

Private Office: Via Senato 15, Milano                                            

Email: leonardo.etro@sdabocconi.it

Email PEC: leonardo.etro@pec.it

         

PROFESSIONAL ROLES:

SDA Bocconi School of Management:

 

  • Associate Professor of Practice in Corporate Finance and M&A
  • International Development Director (2018-2020)
  • Board Member of the Management Committee, SDA Bocconi School of Management (2015-2020)
  • Director of Accounting, Control, Corporate Finance and Real Estate department (2015-2016)
  • Executive Master in Financial Management Scientific Director– ESA Business School in co-branding with SDA Bocconi, Beirut, Libano
  • Performance LAB Scientifica Director, SDA Bocconi School of Management

Bocconi University:

  • Professor of Corporate Finance, International Finance, Business Valuation courses

 

LANGUAGES:

 

Italian: native language.

French: fluent.

English: fluent.

Spanish: sufficiente.

 

Autorizzo il trattamento dei dati personali contenuti nel mio curriculum vitae in base all’art. 13 del D. Lgs. 196/2003 e all’art. 13 GDPR 679/16


Research areas

Corporate and Business Valuation

M&A

Corporate Governance

Private Equity

Entrepreneurial Finance

Corporate Restructuring


Publications



SELECTED PUBLICATIONS

Publications

 

Recent Papers and Book Chapters:

 

  • La Frontiera della sostenibilità italiana, (con Dallocchio M., Negri G. e Vizzaccaro M.), Economia & Management, N 5-6, Settembre/Dicembre, 2018
  • Investor Protection and Value Creation in Cross-Border M&As by Emerging Economies, (con Dell’Acqua A., Teti E.), Journal of International Financial Management and Accounting, Wiley & Sons, Vol. 29, Issue 1, 2018.
  • The Impact of Board Independency, CEO Duality and CEO Fixed Compensation on M&A Performance, (con Dell’Acqua A., Teti E.), Corporate Governance. International Journal of Business in Society, Emerald Insights Eds., Vol. 7, Issue 5, 2017
  • International Portfolio Diversification, (con Dell’Acqua A., Teti E., Ruilei J.), International Journal of Accounting and Finance, Vol. 7, N.4., 2017
  • The Economic Significance of the Film Business: An empirical analysis of the Italian market, (con Dell’Acqua A., Teti E.), Thunderbird International Business Review, Wiley & Sons Eds, 2016
  • Corporate Governance and Cost of Equity: Empirical evidence from Latin American companies, (con Dell’Acqua A, F. Resmini e Teti E.), Corporate Governance. The International Journal of Business in Society, Vol 16 No. 5, 2016
  • Come misurare le performance aziendali sui social media? Una proposta metodologica, (con Dell’Acqua A, Maggioni R. e Teti E.), Economia & Management, Vol. 2, Marzo/Aprile, 2016
  • Valore e Scelte di Investimento (con Campanelli G. e Tamarowski C.) in Valore e Misurazione delle Performance. La Day Surgery in Italia, (a cura di Campanelli G., Dallocchio M. e Tamarowski C.), forthcoming, EGEA, 2016
  • La Day Surgery in Italia (con Campanelli G. e Tamarowski C.) in Valore e Misurazione delle Performance. La Day Surgery in Italia, (a cura di Campanelli G., Dallocchio M. e Tamarowski C.), forthcoming, EGEA, 2016
  • Corporate Social Performance and Portfolio Management, (con Dell'Acqua A., Teti E., Andreoletti L.), Journal of Management Development, (2015), 34(9), pp. 1144-1160
  • Il mercato M&A in Italia e le prospettive offerte dai mini-bond (con M. Vizzaccaro) in M&A. Crescita esterna e creazione di valore, (a cura di Salvi A.), EGEA, 2015
  • IPO Underpricing and Aftermarket Performance in Italy, (con Dell’Acqua A., Murri M., Teti E.), International Journal of Finance and Banking, Vol. 1, No 05 (2014):30-45.
  • L’ M&A in Italia nel 2013 e l’opportunità delle operazioni Cross Border (con S. Alberti) in M&A. Crescita internazionale e premi per il controllo, (a cura di Salvi A.), EGEA, 2014
  • Il Conglomerate Discount nelle aziende diversificate, (con Dell’Acqua A, Correra A.), Economia & Management, Vol. 5, 2013
  • Market  value and corporate debt. The 2006-2010 international evidence, (con Dell’Acqua A., Teti E., Barbalace P.), Applied Financial Economics Journal, Vol. 23, Issue 6, Pag. 495-504, 2013
  • Cross Country industry betas, (con A. Dell’Acqua, E. Teti e M. Boero), Corporate Ownership and Control Journal, vol. 10, is. 1, continued 6, November 2012.
  • M&A e piccole medie imprese: aspetti critici delle operazioni di successo (con S. Alberti) in M&A e Private Equity. Dinamiche, prezzi e performance nei mercati internazionali, (a cura di Salvi A.), EGEA, 2012
  • I metodi di valutazione delle IPO in Italia: analisi ed evoluzione nel periodo 1997-2010, (con Dell’Acqua A., Gremmo D.), in La Valutazione delle Aziende, Marzo 2012
  • Il costo del capitale internazionale: una verifica empirica pre crisi finanziaria, (con Dell’Acqua A.), in La Valutazione delle Aziende, Settembre 2010.
  • Finanza straordinaria e PMI (con Dell’Acqua A. e Lombardi M.L.), in La gestione della piccola e media impresa (a cura di Preti P. e Puricelli M.), Il Sole 24 Ore, 2008.

 

Books:

 

  • Private Capital, Principi e Pratiche di Private Equity e Private Debt, EGEA, (con Ippolito R.), Milano, 2019
  • Vendere e comprare un’azienda: casi, esperienze,problemi e soluzioni,  Credit Suisse, (con Dell’Acqua A.), Milano, agosto 2010.
  • Eccellenza imprenditoriale: il valore dell’internazionalizzazione per le imprese italiane, Confindustria, (con Cenciarini R.A., Dallocchio M., Dell’Acqua A.), Milano, giugno 2008.
  • Top Performer: un’analisi empirica sulla crescita delle imprese lombarde, Confindustria, (con. Cenciarini R., Dallocchio M., Dell’Acqua A.), Milano, aprile 2007.
  • Un ponte per la crescita.Imprese, Banche e Finanza per il futuro del sistema Italia, GANGEMI Editore, (con. Cenciarini R., Dallocchio M., Dell’Acqua A.), Roma, 2006.
  • Finanza agevole per l'Impresa globale. Proposte di sviluppo in Emilia Romagna per vincere le sfide future, Artioli Editore, (con. Cenciarini R., Dallocchio M., Dell’Acqua A.), Modena, 2006.
  • L’impresa veneta: finanza,internazionalizzazione e crescita, Confindustria, (con. Cenciarini R., Dallocchio M., Dell’Acqua A.), Verona, 2006.
  • Brand Italiani. Sviluppo e finanziamento, EGEA, (con Dallocchio M., Dell’Acqua A., Ligresti G., Rovetta B.), Milano, 2006.
  • Finanza e crescita delle Pmi in Lombardia: stato dell’arte e idee per il futuro, Confindustria, (con. Cenciarini R., Dallocchio M., Dell’Acqua A.), Milano, 2005.