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Professor LAURA RONDI

Full Professor of Applied Economics

POLITECNICO di TORINO

DIGEP – Dipartimento di Ingegneria Gestionale e della Produzione

 (May 2018)

CV in pdf

 

CONTACT

Politecnico di Torino,

DIGEP – Dipartimento di Ingegneria Gestionale e della Produzione,

Corso Duca degli Abruzzi 24,

10129 Torino, Italy.

Tel. +39 011 0907232,

Email: Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo.

http://www.digep.polito.it/personale/scheda/(nominativo)/laura.rondi

Primary Fields:  Microeconomics and Industrial Organization

 

Research Interests

a) Regulation, privatization and political institutions: investment and capital structure of network infrastructure

b) Links between capital market imperfections, firm investment decisions and corporate governance

c) Hard- and Soft-budget constraints and state-owned enterprises

d) Economic integration and structural changes of EU industries and firms

f) Applied microeconometrics (Panel data)

 

 

TEACHING

Theory of the Firm and Corporate Governance (Master in Engineering and Management)

Firms, Markets and Institutions (PhD program in Management, Design and Production, in English)

Economics and Management of Service Industries (Master in Engineering and Management)

Corporate Governance in EU countries (Doctoral Summer School, Erasmus+ EU Programme)

Corporate Finance (Master in Finance, taught in English)

Economics and Business Administration (taught in English), Industrial Economics, Business Economics and Finance, Managerial Economics

 

 

EMPLOYMENT

2016- Full Professor of Applied Economics (SECS-P06/13-A4), Politecnico di Torino, DIGEP-Dipartimento di Ingegneria Gestionale e della Produzione (Department of Management and Production Engineering).

2004-2016 Associate Professor of Applied Economics (SECS-P06/13-A4), Politecnico di Torino, DIGEP-Dipartimento di Ingegneria Gestionale e della Produzione (Department of Management and Production Engineering).

1986-2004 Researcher and Senior Researcher of the National Research Council (CNR) at CERIS-CNR, Institute for Economic Research on Firms and Growth, Torino

 

APPOINTMENTS

2017-2019 Visiting Professor at Corporate Governance and European Union Integration, Doctoral Summer School, Jean Monnet Networks – Co-founded by the Erasmus Plus Programme of the European Union

2016- Member of the Executive Board of SIEPI-Società Italiana di Economia e Politica Industriale

2014 Invited Lecturer at ESNIE, European School of New Institutional Economics (Cargese, France)

2009-2017 Visiting professor at Master in Finance – Collegio Carlo Alberto, Moncalieri

2011-13 Guest Professor at the Institute for Quantitative Economics, WU-Vienna University of Economics and Business

2004- Research Associate, Ceris-CNR (Economics Research Institute on Firms and Growth – National Research Council), Moncalieri (TO), Italy

2011- Referee for the evaluation of research projects (PRIN and FIRB) on behalf of the Italian Ministry of Education, University and Research

2009-2010, Research Associate at FEEM – Fondazione Eni Enrico Mattei, Milan

2005-2011 Visiting Professor (Economics and Business Administration) Politecnico di Torino, I Faculty of Engineering, Textile Engineering

2003-2008; 2010 Visiting Professor (Managerial economics for engineers), Politecnico di Torino, II Faculty of Engineering

2002-2004 Visiting Professor (Industrial Economics), Faculty of Economics, University of Eastern Piedmont, Novara

1995-1997 Visiting Professor (Theory of the Firm), Faculty of Economics, University of Torino

1990-1992 Visiting professor (Applied Research in Industrial Economics) and theses supervisor at Coripe Master in Economics, Torino

 

 

PUBLICATIONS

PAPERS IN REFEREED JOURNALS

  1. CEO compensation in EU telecom companies. Does the State design the right incentives? (2018), Telecommunications Policy, (with Cambini, DeMasi, Paci), in press, doi.org/10.1016/j.telpol.2018.03.004
  2. The Impact of Regulation on Utilities’ Investments: Evidence from the Energy Industry (2018), De Economist, 166: 41-62 (with Abrardi and Cambini), org/10.1007/s10645-017-9310-y
  3. Independent Agencies, Political Interference and Firm Investment: Evidence from the European Union (2017), Economic Inquiry, 55(1), 281-304 (with Cambini).
  4. CEO incentives in European energy utilities: Evidence from regulated vs. unregulated firms (2016), Journal of Industrial and Business Economics - Economia e Politica Industriale, 43(2), 127-155, (with Cambini and DeMasi).
  5. Dividend Policy in Regulated Network Industries: Evidence from the EU (2016), Economic Inquiry, 54(1), 408-432, (with F. Bremberger, C. Cambini and K. Gugler).
  6. Incentives to Quality and Investment: Evidence from Electricity Distribution in Italy (2016), Journal of Regulatory Economics, 49(1), 1-32 (with C. Cambini and E.M. Fumagalli)
  7. Incentive Compensation in Energy Firms: Does Regulation Matter? (2015), Corporate Governance: An International Review, 23(4), 378-395 (with Cambini and De Masi)
  8. Agency Issues in A Family Controlled Corporate Governance: The case of Italy (2014), International Journal of Corporate Governance, 5, No.3/4, pp.119 – 132 (with Bhattacharyya and Elston)
  9. Reluctant Regulation (2013), Journal of Comparative Economics, 41(3), 804-828, (with Bortolotti and Cambini)
  10. Capital Structure and Investment in Regulated Network Utilities: Evidence from EU Telecoms (2012), Industrial and Corporate Change, 21(1), p.73-94 (with Cambini)
  11. Capital Structure and Regulation: Do Ownership and Regulatory Independence Matter? (2011), Journal of Economics and Management Strategy, 20(2), p. 517-564 (with Bortolotti, Cambini, Spiegel)
  12. La “Moderna Regolazione” e le Public Utilities: Quale Evidenza Empirica nell’Unione Europea? (2011), L’Industria -Rivista di Economia e Politica Industriale, 1 p.113-143 (with Cambini).
  13. Incentive regulation and investment: evidence from European energy utilities (2010), Journal of Regulatory Economics, 38(1), p. 1-26 (with Cambini)
  14. Corporate Governance And Capital Accumulation: Firm-Level Evidence From Italy (2009), Scottish Journal of Political Economy, 56(5), pp.634-661 (with Elston)
  15. Product Differentiation, Industry Concentration and Market Share Turbulence (2007), International Journal of the Economics of Business, 14(1), pp. 37-57 (with Matraves)
  16. Going Public to Grow? Evidence from a Panel of Italian Firms (2006), Small Business Economics, December, 27 (4-5), pp. 387-407 (with Carpenter)
  17. Shareholder Protection and the Cost of Capital Empirical Evidence from German and Italian Firms (2006), Statistica Applicata – Italian Journal of Applied Statistics, 18(2), pp. 153-172 (with Elston).
  18. Concentrazioni nei servizi di pubblica utilità in Europa: il caso delle telecoms (2006), Economia e Politica Industriale, 33(4), p. 23-44, (with Cambini).
  19. Struttura finanziaria e investimenti in un’impresa regolata (2006), Politica Economica, XXII, (3), p. 317-359, (with Cambini).
  20. Are EU Leading Firms Returning to Core Business? Evidence on Refocusing and Relatedness in a Period of Market Integration, (2005), Review of Industrial Organization, 27 (2), p.125-145 (with Vannoni)
  21. Does a Switch of Budget Regimes Affect Investment and Managerial Discretion of State-Owned Enterprises? Evidence from Italian Firms (2002), Journal of Comparative Economics, 30 (4), p. 836-863 (with Bertero)
  22. Diversification (2002), European Economy, Special Report N° 2, p. 160-171 (with Vannoni)
  23. Are multinationality and diversification complementary or substitute strategies?: An empirical analysis on European leading firms, (2001), International Journal of Industrial Organization, 19(8), p.1315-1346, (with Davies and Sembenelli).
  24. European integration and the changing structure of EU manufacturing: 1987-93 (2001), Industrial and Corporate Change 10 (1), p.37-75 (with Davies and Sembenelli)
  25. Italian Corporate Governance, Investment, and Finance (2000), Empirica 4, p.365-388 (with Carpenter)
  26. Financial pressure and the behaviour of public enterprises under soft and hard budget constraints: evidence from Italian panel data, (2000), Journal of Public Economics, 75 (1), p.73-98 (with Bertero)
  27. Firms' Financial and Real Responses to Monetary Tightening: Evidence for Large and Small Italian Companies (1998), Giornale degli Economisti e Annali di Economia, 57 (1), p. 35-64 (with Sack, Schiantarelli and Sembenelli)
  28. Is excess sensitivity of investment to financial factors constant across firms? Evidence from panel data on Italian companies (1994), Journal of Empirical Finance, 1 (3-4), p. 365-383 (with Sembenelli and Zanetti)
  29. Testing the relationship between the growth of firms and the growth of the economy (1991), International Journal of Industrial Organization, 9 (2), p. 251-259 (with Sembenelli).

 

 

CURRENT RESEARCH and WORKING PAPERS

  •  Setting Network Tariffs with Heterogeneous Firms: The case of natural Gas Distribution in Italy, May 2018 (with Cambini, Fumagalli and Romano), under review.
  • The impact of product market competition and family ties on CEO compensations, March 2018 (with Clara Graziano), under review
  • Pre- and Post-award outsourcing: Temporary Partnership versus subcontracting in public procurement, June 2017, “Marco Fanno” Working Paper Series N. 211, University of Padua (with Paola Valbonesi)
  • Market Competition or Family Ownership: Which Does Prevail on Italian CEO’s Pay? (2015), CESifo Working paper No. 5398 (with Clara Graziano)

 

 

BOOK CHAPTERS

 

  1. Investment and regulation in MENA countries: The impact of Regulatory Independence (2016), in A, Rubino, M.T. Costa Campi, V. Lenzi, I. Ozturk (Eds.) Regulation and Investments in energy markets. Solutions for the Mediterranean, Elsevier Academic Press (with Abrardi and Cambini)
  1. L’arretramento della grande impresa: una tendenza generalizzata (2013), in F. Silva (Ed.) Storia dell’IRI. I difficili anni '70 e i tentativi di rilancio negli anni '80, p. 113-164, Bari, Editori Laterza (with Frigero and Vannoni)
  1. Investment and the Strategic Role of capital Structure in Regulated Industries: Theory and Evidence (2011), in J. Harrington, Y. Katsoulacos and P. Regibeau (Eds.) Recent Advances in the Analysis of Competition Policy and Regulation, E. Elgar Publishing, (with Cambini and Spiegel).
  1. Produttività e Cambiamento nel Sistema Produttivo Italiano (2009), Laura Rondi and Francesco Silva (Eds.), Il Mulino, Bologna
  1. Analisi Economica dell’Impresa (2007), in P. Ravazzi, M. Calderini, P. Neirotti, E. Paolucci, L. Rondi, L’Impresa. Teoria, Organizzazione, Strategia, Tecniche Economiche e Contabili. Il Mulino, Bologna.
  1. Il Sistema delle Imprese (2006), in R. Gallo and F. Silva (eds.) Le Condizioni per Crescere. Diagnosi e Proposte per il Sistema Produttivo, Il Sole24 ore, Milano (with Boffa, Vannoni, Zanetti)
  1. Changes in the industrial and geographical diversification of leading firms in European manufacturing (2004), (with Sleuwaegen and Vannoni), in A. Dierx, F. Ilzkovitz and K. Sekkat (Eds.), European Integration and the Functioning of Product Markets, E. Edgar Publishing
  1. Hardening a Soft Budget Constraint Through 'Upward Devolution' to a Supranational Institution: The Case of Italian State-Owned Firms and the European Union (2003) (with Bertero), in L. Sun (Ed.) Ownership and Governance of Enterprises: Recent Innovative Developments, Palgrave-MacMillan
  1. Investimenti, fattori finanziari e ciclo economico (1999), (with Sembenelli); in G. Zanetti (Ed.), Le decisioni di investimento, Bologna, Il Mulino.
  1. The Industrial Organization of the European Union (1996), S.W. Davies, B. Lyons et al., Oxford, Clarendon Press: Intra-EU multinationality of industries, Chapter 7, (with Davies); Determinants of diversification patterns, Ch. 10 (with Sembenelli and Ragazzi); Multinationality at the firm level, Ch. 11 (with Davies); Alternative Corporate Strategies: Multinationality versus Diversification, Ch. 12 (with Davies and Sembenelli). Clarendon Press-Oxford University Press.
  1. New forms of international involvement, competition and competitiveness: the case of Italy (1993) (with Alzona and Vitali); in K. Hughes (Ed.), European Competitiveness, Cambridge University Press

Professor Laura Rondi is author of other 20 papers and publications.

 

RESEARCH GRANTS and PROJECTS

 

Management Practices and Data Driven Decision Making, DIGEP Interdisciplinary Research Project Grant, 2018-2019

Legacy industriale e sviluppo economic locale: il ruolo della Sharing Economy”, Centro Interdipartimentale FULL – Future Urban  Legacy Lab, Politecnico di Torino, 2017-

Labor and Finance, National Interest Research Project (Progetti PRIN 2015) N. 2015RZWMMT_001, (Project leader: Marco Pagano, University of Naples, Federico II), 2016-2019.

Corporate Governance and European Union Integration, Jean Monnet Networks – Erasmus Plus, (project leader: Evgeni Peev, WU Vienna University of Economics and Business), 2016-2019.

Production and Cost Efficiency in Electric Distribution (AEEG – Energy Independent Regulatory Authority), 2016-2018.

Regulation in Transport Infrastructure (ART - National Regulatory Authority), 2014-15.

Production and Cost Efficiency in Gas Distribution (AEEG – Energy Independent Regulatory Authority), 2012-2013.

Dividends and Investment of Regulated Utilities in Europe, Politecnico di Torino, WU Wien University of Economics and Business, and Research Institute for Regulatory Economics (Vienna), 2011-2014

National Interest Research Project (Progetti PRIN) N. 20089PYFHY_004: Regolazione, investimenti e nuove forme di intervento pubblico (Project Leader: Carlo Scarpa), 2010-11

Struttura finanziaria, proprietà e corporate governance nelle imprese italiane ed europee, project CERIS-CNR, CERIS Programme “Imprese e Struttura Industriale), Project Leader, 2009-2012

FEEM- Fondazione ENI Enrico Mattei, Institution and Markets, Research programme, 2009-10

National Interests Research Project (PRIN) Intra- and inter-modal competition and strategic interactions between operators: theoretical and empirical implications, (Leader: Carlo Scarpa), 2007-8

Shareholder protection and the cost of capital: Evidence from Germany and Italy (with J.A. Elston, University of Central Florida), 2003-2006. Project leader.

What happens when Italian firms go public, (with R. Carpenter, UMBC) funded by Designated Research Initiative Fund of the University of Maryland Baltimore County, 2001-04. Project Leader.

Property Rights Regimes, (with E. M. Bertero, London School of Economics and Political Science) Microeconomic Incentives and Development, UNU-WIDER project, 2000-2002.

Determinants of industrial concentration, market integration and efficiency in the European Union, (with University of East Anglia and Katholieke Universiteit Leuven), funded by the European Commission, DG II General Directorate for Economic and Financial Affairs, 2000. Project Leader.

New perspectives on financing constraints and investment: evidence from Italian panel data, Italy-USA Intergovernmental Co-operative Agreement (with R. E. Carpenter, University of Maryland Baltimore County), 1999-2000. Project Leader.

Study on the impact of the Internal Market integration: The extent of realisation of economies of scale, (with University of East Anglia, IESE- Barcelona, Katholieke Universiteit Leuven, Monopol Kommission), funded by the European Commission, DG II/XV, 1995-96. Project Leader.

The Europeanization of industrial structure: analysis of industrial market shares in the EC (with University of East Anglia, IESE- Barcelona, Katholieke Universiteit Leuven, Monopol Kommission), funded by the European Commission, under its "Stimulation Programme for Economic Science" (SPES) programme, 1990-94.

European Competitiveness, within European Competitiveness Network, funded by WZB Wissenschaftszentrum Berlin, 1991.

 

EDITORSHIP

  • Member of the Editorial Board of "The Review of Industrial Organization" (of the Industrial Organization Society, Northeastern University, Boston, USA), since 2004
  • Co-Editor in Chief of “Economia e Politica Industriale – Journal of Industrial and Business Economics”, Springer-Verlag, since 2015
  • Member of the Executive Committee and of the Editorial Board of “Economia e Politica Industriale – Journal of Industrial and Business Economics”, 2010-2014

 

 REFEREEING

Referee for: American Economic Review, Bulletin of Economic Research, Economia Politica – Journal of Analytical and Institutional Economics, Economics of Innovation and New Technology, Empirica, Energy Economics, Energy Policy, Fiscal Studies, Information Economics and Policy, Imprese e Storia, International Journal of Industrial Organization, L’Industria – Rivista di Economia e Politica Industriale, Journal of Corporate Finance, Journal of Development Economics, Journal of Economic Policy Reforms, Journal of Economics and Management Strategy, Journal of Industrial Economics, Journal of Industry, Competition and Trade,  Journal of Management and Governance, Journal of Public Economics, Journal of Regulatory Economics, Journal of Small Business Management, Journal of Technology Transfer, North American Journal of Economics and Finance, Regional Studies, Review of Industrial Organization, Small Business Economics, Scottish Journal of Political Economy, Technological Forecasting and Social Change, Telecommunications Policy

 

 

MEMBERSHIP IN PROFESSIONAL ORGANIZATIONS and ACADEMIES

  • SIEPI (Società Italiana di Economia e Politica Industriale – Italian Society of Industrial Economics and Policy): Member of the Executive Board
  • EEA (European Economic Association)
  • AEA (American Economic Association)
  • SIE (Società Italiana degli Economisti – Italian Economic Society)

 

 

CONFERENCE ORGANIZATION

2018    VI Annual Conference of iCare (International Conference on Applied research in Economics and Finance), Higher School of Education, Perm (Russia), Scientific Programme Committee

2018    XV Workshop of the SIEPI- (Società Italiana di Economia e Politica Industriale), Università di Ferrara, Member of the Scientific Programme Committee

2017    XIV Workshop of the SIEPI- (Società Italiana di Economia e Politica Industriale), Università di Palermo, Member of the Scientific Programme Committee

2016    57° Annual Meeting of the SIE – Società Italiana degli Economisti, Università Bocconi, Milano, October, Member of the Scientific Programme Committee

2014    55° Annual Meeting of the SIE – Società Italiana degli Economisti, Università degli Studi di Trento, October, Member of the Scientific Programme Committee

2011    52° Annual Meeting of the SIE – Società Italiana degli Economisti, Università degli Studi Roma Tre, October, Member of the Scientific Programme Committee

2009    50° Annual Meeting of the SIE – Società Italiana degli Economisti, LUISS University, Rome, October , Member of the Scientific Programme Committee

2003    “Innovare per competere. Come finanziare l’innovazione?”, Università del Piemonte Orientale, May, Conference Organizer and Member of the Scientific Programme Committee

1999    Conference Organizer and Member of the Scientific Programme Committee of the XXVI Annual Conference of the EARIE – European Association for Research in Industrial Economics, Turin, September 4-7, 1999.

1997    XXIV Annual Conference of the EARIE - European Association for Research in Industrial Economics, Katholieke Universiteit Leuven, September 1997, Member of the Scientific Programme Committee

1993    3rd International SPES Conference on "The Europeanization of Manufacturing", Turin, July, Conference Organizer

1987    International Conference “Analysis of Company Growth”, Istituto Bancario S.Paolo, Turin, November 1987. Member of the Organizer Committee

 

CONFERENCE PRESENTATIONS (2009-17)

As an invited speaker

2015    Incentive Compensation in Energy Firms: Does Regulation Matter? Wirtschaftsuniversität Wien (WU), ICG-Institute for Corporate Governance, Vienna, 29th October, 2015

2014    Regulators and Firms – The Comparative Analysis of Alternative Regulatory Regimes  ESNIE – European School of New Institutional Economics, 22 May 2014, Cargese (France)

2013    Dividend Policy in Regulated Firms, Cardiff Business School, 16 October 2013

2011    Incentive regulation and investment. Evidence from European energy utilities, Ökonomisches Forschungsseminar, Research Institute for Regulatory Economics, WU of Economics and Business, October 2011, Vienna.

2011    Regulatory Independence, Investment and Political Interference, CIFREM Seminars, University of Trento, April 2011, Trento.

2011    Regulatory Independence, Investment and Political Interference, Ökonomisches Forschungsseminar, Research Institute for Regulatory Economics, WU of Economics and Business, February 2011

2009    “Produttività e cambiamento nell’industria italiana. Indagini quantitative”, presentation of the book edited by L. Rondi e F. Silva, Scuola Superiore Sant’Anna, 5 November, Pisa

 

Participation in Conferences and Seminars as a Speaker (2010-2018)

2017-2018

  • 16th IIOC-International Industrial Organization Conference, 20-22 April, Indianapolis, USA
  • 54th Public Choice Society meetings, 2-4 March, New Orleans (USA)
  • XIV Workshop of SIEPI (Società Italiana di Economia e Politica Industriale), Palermo, February, 9-10

2016

  • Research Workshop on Public Procurement, Centre for Public Private Interaction, Higher School of Economics, October 27-28, Perm (RUS)
  • 57th Annual Meeting of SIE (Società Italiana degli Economisti), 20-22 October, Bocconi University, Milan
  • iCARE 2016, International Conference on Applied Research in Economics, University of Essex (UK), 26-27 September, Colchester
  • 12th WEAI – Western Economic Association International Conference, Nanyang Technological University (NTU), Singapore, 7-10 January, 2016

2015-2014

  • 16th Workshop on Corporate Governance and Investment, Alliance Manchester Business School, Manchester, 11-12 December 2015
  • iCARE3 2015, International Conference on Applied Research in Economics, Higher School of Economics, Perm (RUS), 21-23 September
  • XII Workshop of SIEPI (Società Italiana di Economia e Politica Industriale), IULM, Università di Comunicazione e Lingue, Milano, February 5-6, 2015
  • 55° SIE (Società Italiana degli Economisti), 23-25 October 2014 Università di Trento
  • III Workshop “Industrial Organization: Theory, Empirics and Experiments”, June 26-28, Alberobello, Italy
  • IIOC (International Industrial Organization Conference), April, 11-13, Northwestern Law, Chicago (USA)
  • SIEPI (Società Italiana di Economia e Politica Industriale) Annual Congress, Università di Napoli Federico II, Febr., 6-7, 2014.

2013

  • 54° SIE (Società Italiana degli Economisti), 24-26 October, Università di Bologna
  • EARIE (European Association for Research in Industrial Organization) August, Evora (P)
  • IIOC (International Industrial Organization Conference) Boston, Northeastern University (USA)

2012

  • PRIN Workshop, Università di Napoli Federico II, Luglio 2012, Anacapri.
  • Public Choice Society 2012- Second World Congress, 8-11 March, Miami (USA)
  • NERI-Network Economisti della Regolamentazione e delle Istituzioni, 17-18 Feb. 2012, Torino

2011

  • 52° SIE 2011, Università di Roma Tre, October, Rome
  • EEA 2011 (European Economic Association), August, Oslo
  • II Workshop “Industrial Organization: Theory, Empirics and Experiments”, June 23-24, Otranto
  • PRIN Workshop “Regolazione, investimenti e nuove forme di intervento pubblico”, March, Turin.

2010

  • EARIE 2010, September, Istanbul
  • IIOC 2010, May, University of British Columbia, Vancouver (CAN)

 

 

 

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