Mara Faccio
Tom and Patty Hefner Chair in Finance
Professor of Management
Finance
Education
Ph.D. (Dottorato), Finance; Universita' Cattolica, 1999
M.Phil. in Accounting and Finance; City University Business School, London, 1997
Master's in Accounting and Finance; Universita' di Pavia, 1995
Bachelor in Economics (Laurea); Universita' di Pavia, 1994
Journal Articles
- Faccio, M., & J. J. McConnell (2024). "Impediments to the Schumpeterian process in the replacement of large firms." Journal of Finance vol. Forthcoming | Related Website |
- Emery, L., & M. Faccio (2024). "Exposing the revolving door in executive branch agencies." Journal of Financial and Quantitative Analysis vol. forthcoming | Related Website |
- Faccio, M., & L. Zingales (2022). "Political determinants of competition in the mobile telecommunication industry." Review of Financial Studies vol. 35 (4), 1983-2018. | Related Website |
- Faccio, M., R. Morck, & M. D. Yavuz (2021). "Business groups and the incorporation of firm-specific shocks into stock prices." Journal of Financial Economics vol. 139 (3), 852-871. | Related Website |
- Faccio, M., & W. J. O'Brien (2021). "Business groups and employment." Management Science vol. 67 (6), 3468-3491. | Related Website |
- Faccio, M., & J. J. McConnell (2020). "Death by Pokémon GO: The economic and human cost of using apps while driving." Journal of Risk and Insurance vol. 87 (3), 815-849. | Related Website |
- Faccio, M., & J. Xu (2018). "Taxes, capital structure choices, and equity value." Journal of Financial and Quantitative Analysis vol. 53 (5), 967-995. | Related Website |
- Faccio, M., & H. C. Hsu (2017). "Politically connected private equity and employment." Journal of Finance vol. 72 (2), 539-573. | Related Website |
- Aggarwal, R., M. Faccio, O. Guedhami, & C. Y. Kwok (2016). "Culture and finance: An introduction." Journal of Corporate Finance vol. 41, 466-474. | Related Website |
- Faccio, M. (2016). "Discussion of ‘Corporate political connections and tax aggressiveness’." Contemporary Accounting Research vol. 33 (1), 115-120. | Related Website |
- Faccio, M., M. Marchica, & R. Mura (2016). "CEO gender, corporate risk-taking, and the efficiency of capital allocation." Journal of Corporate Finance vol. 39, 193-209. | Related Website |
- Faccio, M., & J. Xu (2015). "Taxes and capital structure." Journal of Financial and Quantitative Analysis vol. 50 (3), 277-300. | Related Website |
- Caprio, L., Faccio, M., & J. J. McConnell (2013). "Sheltering corporate assets from political extraction." The Journal of Law, Economics, and Organization vol. 29 (2), 332-354. | Related Website |
- Chaney, P. K., M. Faccio, & D. C. Parsley (2011). "The quality of accounting information in politically connected firms." Journal of Accounting and Economics vol. 51 (1), 58-76. | Related Website |
- Sengupta, R., & M. Faccio (2011). "Corporate response to distress: Evidence from the Asian financial crisis." Federal Reserve Bank of St. Louis Review vol. 93 (2), 127-154. | Related Website |
- Faccio, M., M. Marchica, & R. Mura (2011). "Large shareholder diversification and corporate risk-taking." Review of Financial Studies vol. 24 (11), 3601-3641. | Related Website | Download |
- Faccio, M. (2010). "Differences between politically connected and non-connected firms: A cross country analysis." Financial Management vol. 39 (3), 905-927. | Related Website |
- Faccio, M., L. H. P. Lang, & L. Young (2010). "Pyramiding versus leverage in corporate groups: International evidence." Journal of International Business Studies vol. 41 (1), 88-104. | Related Website |
- Faccio, M., & D. C. Parsley (2009). "Sudden deaths: Taking stock of geographic ties." Journal of Financial and Quantitative Analysis vol. 33 (3), 683-718. | Related Website |
- Bortolotti, B., & M. Faccio (2009). "Government control of privatized firms." Review of Financial Studies vol. 22 (8), 2907-2939. | Related Website | Download |
- Faccio, M., J. J. McConnell, & D. Stolin (2006). "Returns to acquirers of listed and unlisted targets." Journal of Financial and Quantitative Analysis vol. 41 (1), 197-220. | Related Website |
- Faccio, M., R. W. Masulis, & J. J. McConnell (2006). "Political connections and corporate bailouts." Journal of Finance vol. 61 (6), 2597-2635. | Related Website |
- Faccio, M., & D. Stolin (2006). "Expropriation vs. proportional sharing in corporate acquisitions." Journal of Business vol. 79 (3), 1413-1444. | Related Website |
- Faccio, M. (2006). "Politically connected firms." American Economic Review vol. 96 (1), 369-386. | Related Website |
- Faccio, M., & R. W. Masulis (2005). "The choice of payment method in European mergers and acquisitions." Journal of Finance vol. 60 (3), 1345-1388. | Related Website |
- Faccio, M., & L. H. P. Lang (2002). "The ultimate ownership of western European corporations." Journal of Financial Economics vol. 65 (3), 365-395. | Related Website |
- Faccio, M., L. H. P. Lang, & L. Young (2001). "Dividends and expropriation." American Economic Review vol. 91 (1), 54-78. | Related Website |
- Faccio, M., & M. A. Lasfer (2000). "Do occupational pension funds monitor companies in which they hold large stakes?" Journal of Corporate Finance vol. 6 (1), 71-110. | Related Website |
- Faccio, M., & M. A. Lasfer (2000). "Pension fund investments and corporate monitoring." Professional Investor vol. 10 (2), 23-26.
Book Chapters
- Faccio, M., & M. A. Lasfer (2002). "Institutional shareholders and corporate governance: The case of UK pension funds." Oxford University Press 603-622.
Working Papers
- Faccio, M., & J. Xu (2024). "Taxes and Private Firms' Capital Structure Choices." | Related Website |
- Faccio, M., & J. J. McConnell (2023). "Political connections cause resource misallocation: Evidence from the fall of fascism in Italy." | Related Website |
Data Shows Political Connections Cause Resource Misallocation
A new study by finance professors Mara Faccio and John McConnell at Purdue's Mitchell E. Daniels, Jr. School of Business looks at the fall of fascism in 1940s Italy and the connection between corporate interests and political power.
Full story: Data Shows Political Connections Cause Resource Misallocation
Business groups and employment
Professor Mara Faccio discusses her research on business groups and employment
price of phone plans across countries
Mara Faccio, Purdue's Hanna Chair in Entrepreneurship, discusses price differences of cell phone plans across countries.
Risky Business
Addressing the gender gap in corporate leadership, research coauthored by Krannert finance professor Mara Faccio breaks new ground by using data from European-based companies that finds female CEOs tend to make less risky choices than their male counterparts.
Taxes and capital structure choices
Taxes and capital structure choices
Politics & Profit
Prof Mara Faccio discusses her work on the connection between politics and money.
Ranked as the #1 female scientist in academic finance by Renée Adams and Jing Xu (2022) (https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3998218).
Paper with L.H.P. Lang is ranked 23rd among the most cited papers published in the JFE through 2020 by G. William Schwert (2021, “The Remarkable Growth in Financial Economics, 1974-2020: Online Appendix,” https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3722314).
2018 Innovator Hall of Fame, Purdue Research Foundation.
Listed among the “Authors with the Most Citations to Their JFE Papers, 1974-2018”.
Winner of the William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2018 Volume of the Journal of Financial and Quantitative Analysis.
Referee of the Year Award, Review of Corporate Finance Studies, 2016.
Winner of the William F. Sharpe Award for Scholarship in Financial Research - - Recognizing the best paper in the 2015 Volume of the Journal of Financial and Quantitative Analysis.
Best Paper Runner-Up for the BlackRock/Brennan Award, Review of Financial Studies, 2012
All Star Paper Award for “The ultimate ownership of western European corporations” (with L. H. P. Lang), Journal of Financial Economics.
Nominated for the Brattle Prize, American Finance Association, 2007
Financial Management Association International: Board of Directors as President-Elect (2023-present)
Journal of Financial and Quantitative Analysis: Advisory Editor (2023-present)
Financial Management Association International: Board of Directors as Immediate Past VP-Program (2022-2023)
Financial Management Association International: Board of Directors as Vice President-Program (2021-2022)
Journal of Financial and Quantitative Analysis: Managing Editor (2020-2023)
Financial Management Association International: Board of Directors as Vice President-Program Elect (2020-2021)
Journal of International Business Studies: Editorial Review Board Member (2019-2022)
Journal of Corporate Finance: Associate Editor (2018-2022)
American Finance Association: Board of Directors (2018-2021)
Journal of Financial and Quantitative Analysis: Associate Editor (2018-2020)
Pacific-Basin Finance Journal: Associate Editor (2016-present)
Journal of Corporate Finance: Co-Editor, Special Issue on “Culture and Finance” (2016)
Financial Management: Associate Editor (2009-2014)
Review of Financial Studies: Associate Editor (2008-2011)
Contact
mfaccio@purdue.edu
Office: KRAN 448
Quick links
Area(s) of Expertise
Business Valuation, Capital Markets, Corporate Finance, Corporate Governance, Family-Owned Business, Finance, Financial Economics, International Finance, Mergers and Acquisitions, Taxation