Carola Schenone

Associate Professor of Commerce
Finance

Carola Schenone
+1 434-924-4184
Office: 
362
PDF icon Curriculum vitae (119.93 KB)
Education: 
Ph.D., Economics, Northwestern University
Master, Economics, Northwestern University
Master, Economics, Universidad de San Andres, Buenos Aires, Argentina
B.A., Economics, Universidad de San Andrés, Buenos Aires, Argentina
Areas of Expertise: 
Finance
Applied corporate finance
Empirical microeconometrics
Capital structure and product market quality and competition
Banking and bankruptcy
Professional Activities: 
Professor Schenone’s fields of specialization include empirical corporate finance and empirical industrial organization, with a focus on capital structure issues; bank-firm lending relationships; and the effects of corporate bankruptcy on product market competition, quality, and CEO turnover.
 
Professor Schenone joined McIntire in 2004 after two years as an Assistant Professor at the University of Minnesota’s Carlson School of Management. She has authored several articles and working papers, and her solo authored paper published in The Journal of Finance in 2004 was nominated for the 2005 Journal of Finance Brattle Prize and was reprinted in the volume of Financing Entrepreneurship, from The International Library of Entrepreneurship (edited by Philip Auerswald of George Mason University's School of Public Policy and Ant Bozkaya, former research fellow at Harvard University's John F. Kennedy School of Government; published by Edward Elgar Publishing Ltd.).
 
Professor Schenone also serves as a referee for several academic journals in finance and economics, including The Journal of FinanceThe Review of Financial Studies; and Journal of Financial Intermediation. In 2013, Professor Schenone was awarded the “Outstanding Referee Award” by Journal of Financial Intermediation.
 
Professor Schenone's research has been presented in several academic institutions as well as policy institutions such as the Securities and Exchange Commission, the Federal Reserve Board, and the Federal Reserve Banks of Chicago and New York. She has presented and discussed papers at several finance conferences, including the Western Finance Association Meeting and the American Finance Association Meetings and the Econometric Society Meetings.

Selected Publications:

“Are the Bankrupt Skies the Friendliest?” Journal of Corporate Finance, 2012 (with F. Ciliberto).

“Bankruptcy and Product-Market Competition: Evidence from the Airline Industry,” The International Journal of Industrial Organization, 2012 (with F. Ciliberto).

“Lending Relationships and Information Rents: Do Banks Exploit their Information Advantage?” The Review of Financial Studies, 2010.

“Conflict of Interest and Certification: Long-Term Performance and Valuation of U.S. IPOs Underwritten by Relationship Banks,” The Journal of Financial Intermediation, 2010 (with L. Benzoni).

“The Effect of Banking Relations on the Firm’s IPO Underpricing,” The Journal of Finance, 2004.

Recent news about Carola Schenone:
McIntire Finance Professors Patrick Dennis and Carola Schenone, with co-author Kristopher Gerardi from the Federal Reserve Bank of Atlanta, recently earned the prize for “Best Conference Paper” at the 2018 European Finance Association (EFA) Annual Meeting. The prestigious award recognizes... Read more
From retirement to saving for college tuition, institutional investing has become a ubiquitous tool for many of us trying to grow our money. Building a diversified portfolio of securities is often the prescribed course for helping us accomplish our financial... Read more
Finance Professor Carola Schenone discussed in a Nov. 15 interview with Andy Uhler from NPR’s “Marketplace” why Warren Buffett's Berkshire Hathaway recently acquired shares of Southwest, American, Delta, and United airlines. “This was an odd move for someone who had... Read more