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Riccardo Calcagno


Professor of Finance

After having worked for 10 years as an university professor in the Netherlands (University of Tilburg and Amsterdam), Riccardo Calcagno joined EMLYON Business School in january 2011 as an associate professor of corporate finance. His research covers different topics: from corporate governance to mergers and acquisitions, to the design of optimal managerial compensation. He is currently focusing on the study of the consequences of financial illiteracy of households and self-employed/small entrepreneurs on their investment choices.


  1. 2012 HDR in Management Sciences - Université "Jean Moulin" Lyon 3, France
  2. 2001 PhD in Economics - Université Catholique de Louvain, Belgium
  3. 1996 MA in Economics with honours - Université Catholique de Louvain, Belgium
  4. 1993 Degree in Economics, University of Torino, Italy


  1. 2008 – 2010 Associate Professor of Finance - VU University Amsterdam, The Netherlands
  2. 2005 – 2007 Assistant Professor of Finance - VU University Amsterdam, The Netherlands
  3. 1999 – 2005 Assistant Professor of Finance - Tilburg University, The Netherlands
  4. Since 2005 Visiting Fellow at CeRP - Collegio Carlo Alberto, Turin, Italy
  5. Since 2005 Extramural Fellow of TILEC - Tilburg University, The Netherlands

Scientific CommitteesTop

Member of the Scientific Committee of emlyon business school


  1. Financial Literacy and Economics of Advice
  2. Bargaining and Takeovers
  3. Contract Theory and Managerial Compensation
  4. Corporate Governance
  5. Financial Markets Microstructure


European Economic Association, European Finance Association, Financial Management Association, French Finance Association

Courses taughtTop

  • MSc level (at emlyon):
    • MSc in Management: Corporate Finance
  • MSc level (at VU Amsterdam, Tilburg University):
    • Corporate Governance (2008-2009)
    • Advanced Corporate Finance (2001-2004)
  • PhD level (Tinbergen Institute):
    • Corporate Finance Theory (2006-2011)

Research InterestTop

  1. Financial Literacy and Households Finance
  2. Takeovers
  3. Managerial Compensation and Corporate Governance