The Big Innovation Bang
Monday, 21st November 2016
12:15 – 13:00
Room 307, HEG-FR, Chemin du Musée 4, 1700 Fribourg
Diego Ostinelli is a research assistant at the
University of Zurich. His research interests include innovation, financial
market development, and acquisitions. Currently he is studying the effect of
financial markets deregulation on innovation and the role of stock and debt
market conditions in determining the proportion of private equity-backed deals
in the market for corporate control.
Diego holds a PhD from Zürich University, a M.Sc. in
finance from Bocconi University in Milan and a B.Sc. in economics from USI in
Lugano. Prior to his Ph.D. studies, he worked as an equity analyst at UBS and
in the Corporate Finance division at PwC.
Does stock market development promote innovation? This paper investigates the role of stock market development on innovation. With a quasi-natural experiment I exploit the Big Bang, a large and exogenous shock to stock market regulation that occurred in the United Kingdom in 1986 and show that improved stock market conditions foster innovation in firms belonging to more external finance dependent industries.
Extended Abstract to download
Supported by Innovation Club