Massimo Massa is the Rothschild Chaired Professor of Banking and Professor of Finance at INSEAD, where he teaches international finance, corporate finance, asset management, behavioral finance and governance in MBA, EMBA, PhD and Executive programs. He graduated summa cum laude from the Department of Economics at the LUISS University of Rome, Italy. He has obtained an MBA from the Yale School of Management and an MA and a PhD in Financial Economics from Yale University. He is CPA and Auditor.
His research interests include asset management, corporate finance, behavioral finance, and financial intermediation. Dr. Massa has published articles on mergers and acquisitions, alliances, capital structure, dividend policy, share repurchases, risk management, initial public offerings, dividend policy, mutual funds, hedge funds, short-selling, behavioral biases, banking, financial intermediation, market microstructure, international finance, role of media and social networks in the financial markets, ownership structure, corporate governance, family firms.
His articles have been published in all the top academic journals such as Rand Journal of Economics, Review of Financial Studies, Journal of Finance, Journal of Financial Economics, Journal of Business, Journal of Financial and Quantitative Analysis, Journal of Financial Markets, Review of Finance, Journal of Portfolio Management, Journal of Banking and Finance, Management Science, Journal of Trading, Journal of International Economics, Journal of Monetary Economics, European Journal of Financial Management.
Dr. Massa’s research has been quoted and discussed in major magazines and newspapers (The Economist, BusinessWeek, New York Times, Wall Street Journal) as well as professional Journals (Creditflux, Journal of Trading) and Forums (Harvard Law Forum, Notre Dame Law Forum). Dr. Massa is Associate Editor of the Journal of Banking and Finance and the Journal of Financial Management.
Dr. Massa has been consultant with several companies on strategic issues related to governance, risk management, corporate financial and growth strategies. At INSEAD, Dr. Massa co-directs the Hoffman Fund for research in ownership and family firms.
Dr. Massa has created and manages the INSEAD Executive Master of Finance. Dr. Massa is the program director of the International Directors Programme, the Advanced Asset Management program, the Interalpha Banking program, the Strategic Banking program as well as the programme of Value Creation for Owners and Directors. He co-directs the Advanced International Corporate Finance programme and has directed several programs for corporations and banks, including Abn Amro, Maybank, Societe Generale, FinecoBank, Technip, Mubadala, Bertelsmann, Standard Chartered, Mandiri Bank, Alpha Bank, China Construction Bank, RHB, Ambank,VTB.
Dr. Massa’s current research and consulting activity focuses on two main areas. The first is the link between corporate financial strategies, governance and type of ownership and how this affects value creation, risk management and growth in corporations and financial industry (banks and asset management). The second area is behavioral finance and behavioral decision making for CEOs, board members and owners. Dr. Massa’s uses a behavioral framework to study the strategies of asset managers and banks and their synergies. He is currently focusing on Fintech.
Dr. Massa has previously worked in the Bank of Italy in the Banking Division (1989-1992) and in the Research Department (Monetary and Financial Markets Division) (1993-1997), participating in the day-to-day running of monetary policy and on the analysis of the financial markets