Assistant Professor
Department of Economics
Via Monte Generoso, 71 - 21100 Varese - Italy
Tel: +39 (0)332 395514 / +39 3494975935
Fax: +39 (0)332 395509
E-mail: marcello.spano@uninsubria.it | mspano@eco.uninsubria.it

Marcello Spanò was born in Catania (Italy) on June 12, 1971.
He is an Assistant Professor and Lecturer at the University of Insubria since February 2004.
He has a PhD in Economics from the University of York (2004), a Doctorate in Economics (2002) from the University of Pavia, an MSc Degree in Economics (1998) from the University of York, and a First Degree in Economics (1996) from the University of Pavia.
He has been a Teaching Fellow at the University of York (2001-2002) and at the University of Milan (2002-2005).
He has been a Research Fellow at the University of Novara (1999-2001) and at the University of Milan (2002-2003).

Referee of the Journal of Derivatives Accounting and of the Journal of Corporate Finance.

2003. Organization and participation to the first edition of the Summer Program held in Gargnano (BS), IT, on “Political Economy of Trade Policy and Development: Theories and Institutions” (CEPR, University of Milan, Centro Studi Luca d’Agliano).

2001. European Financial Management Association (EFMA). Conference held in Lugano, CH. Presentation: “Investment, Debt and Risk Management in a Context of Uncertain Returns on Investment”. Doctorate seminar at the same EFMA Conference: presentation of “Risk Management and Firms’ Behavior”.

2000. Young researcher scholarship Awarded by the Italian Ministry of University and Scientific Research (MURST) in 2002. Research project: “Testing the Correlation Between Probability of Default and Leverage Level in an Agency Costs Model”.

1997-98. Scholarship for Post-graduate studies abroad, awarded by the Universiy of Pavia.

Marcello Spanò has been working extensively on the link between hedging through derivatives, capital structure and investment decisions for non-financial companies, both theoretical and empirical aspects. Recent research has also been dedicated to macroeconomic effects of stock market shocks.
Current research focuses on macroeconomic modelling for pricing financial assets and physical commodities in an economy with heterogeneous goods.

2005 – present. Assistant Professor at the University of Insubria. Course: International Macroeconomics.

2005 – present. Lecturer at the Politecnico of Milan, Department of Managerial Engineering. MSc Course: Institutions of Economics. Module on Monetary economics.

2002-2004. Teaching fellow at the University of Milan. Course: International and Development Economics.

2001-2002. Teaching fellow at the University of York, Department of Economics. Courses: Microeconomics 2; Introductory Economics (Macroeconomics); Applied Economics.

2005. Macroeconomic Effects of Stock Market Fluctuations, Rivista Italiana degli Economisti, forthcoming. (EN)

2005. Hedging against Neutral and Non Neutral Shocks: Theory and Evidence. Journal of Derivatives Accounting. forthcoming. (EN)

2005. (with Barba Navaretti G.) Openness, Growth and Poverty, in David Tarr et al. (2005), World Bank, Trade Policy and WTO Accession for Economic Development:Application to Russia and the CIS. World Bank, Washington. (EN)

2004. Determinants of Hedging and Its Effects on Investment and Debt. Journal of Corporate Finance, 10, 175-197. (EN)