Prof. dr. A.M. (Alessio M.) Pacces
Faculty of Economics and Business
Faculty of Law
Law & Economics
Visiting address
- Nieuwe Achtergracht 166
- Room number: A6.07
Postal address
- Postbus 15842
1001 NH Amsterdam
Contact details
Social media
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Who I am
I am the Professor of Law & Finance at the Amsterdam Law School and the Amsterdam Business School. At Amsterdam, I am Director of the LL.M. Master in Law & Finance and Director of the Amsterdam Center for Law & Economics (ACLE). I am also a Research Member of the European Corporate Governance Institute (ECGI) and a Fellow Academic Member of the European Banking Institute (EBI).
I graduated in economics from LUISS, Rome (cum laude, 1994). Moreover, I hold the LL.M. European Master in Law & Economics (EMLE, cum laude, 1995) and a PhD in Law & Economics from Erasmus University Rotterdam (cum laude, 2008) where I first became a Professor (2012) and the Director of the EMLE (2014), having graduated from it 19 years earlier.
I am an internationally known scholar who has contributed to the burgeoning law & finance literature on the regulation of corporate control and of financial stability (particularly on shadow banking). My current research interests include sustainable corporate governance, institutional investors, control-enhancing mechanisms, Fintech, and empirical legal studies. Prior to entering academia, I was researcher at the Bank of Italy and at the Consob. I published over 50 pieces of scholarship as books, chapters, and articles in journals such as Harvard Business Law Review, Journal of Corporate Law Studies, International Review of Law & Economics and Sustainability, among others, and with houses such as Routledge, Cambridge Univesrity Press and and Oxford University Press, among others. I was invited to speak at several universities in Europe, Asia, Israel, and the United States of America and at policymakers such as the European Commission, the OECD, the International Monetary Fund, and the European Central Bank, among others. I had visiting positions at UC Berkeley, Columbia Law School, University of Haifa, and LUISS University in Rome, among others.
I teach Securities and Markets Regulation and Corporate Social Responsibility. Previously, I taught Business Organizations and Corporate Finance Law, Microeconomics for lawyers, Financial Regulation, and Law & Economics in the Courts. I supervised 12 PhD candidates to completion (2/3 placed in academia).
I firmly believe that education and research at the intersection between law, economics, and finance can make this world a better place to live in.
My Google Scholar page
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Publications
- key publications (5)
- refereed (25)
- academic (47)
- professional (4)
- supervised theses (1)
- doctoral thesis (1)
- working papers / preprints (2)
2021
Pacces, A. M. (2021). Will the EU Taxonomy Regulation Foster Sustainable Corporate Governance? Sustainability, 13(21), [12316]. https://doi.org/10.3390/su132112316 [details]
2018
- Hill, C. A., & Pacces, A. M. (2018). The Neglected Role of Accountability and Justification under Uncertainty in Corporate Governance. Annals of Corporate Governance, 3(4), 276-407. https://doi.org/10.1561/109.00000016 [details]
2014
- Enriques, L., Gilson, R. J., & Pacces, A. M. (2014). The Case for an Unbiased Takeover Law (with an Application to the European Union). Harvard Business Law Review, 4(1), 85-127.
2012
- Pacces, A. M. (2012). Rethinking Corporate Governance: The Law and Economics of Control Powers. (Routledge Research in Corporate Law). Routledge.
2000
- Pacces, A. M. (2000). Financial Intermediation in the Securities Markets: Law and Economics of Conduct of Business Regulation. International Review of Law and Economics, 20(4), 479-510.
2021
- Kaja, F., Martino, E. D., & Pacces, A. M. (2021). FinTech and the Law and Economics of Disintermediation. In IH-Y. Chiu, & G. Deipenbrock (Eds.), Routledge Handbook of Financial Technology and Law (pp. 78-95). (Routledge handbooks). Routledge. https://doi.org/10.4324/9780429325670-5 [details]
- Pacces, A. M. (2021). Will the EU Taxonomy Regulation Foster Sustainable Corporate Governance? Sustainability, 13(21), [12316]. https://doi.org/10.3390/su132112316 [details]
2020
- Pacces, A. M., & Weimer, M. (2020). From Diversity to Coordination: A European Approach to COVID-19. European Journal of Risk Regulation, 11(2), 283-296 . https://doi.org/10.1017/err.2020.36 [details]
2019
- Pacces, A. M. (2019). Procedural and Substantive Review of Related Party Transactions: The Case for Noncontrolling Shareholder-Dependent Directors. In L. Enriques, & T. H. Tröger (Eds.), The Law and Finance of Related Party Transactions (pp. 181-217). (International corporate law and financial market regulation). Cambridge University Press. https://doi.org/10.2139/ssrn.3167519, https://doi.org/10.1017/9781108554442.007 [details]
2018
- Hill, C. A., & Pacces, A. M. (2018). The Neglected Role of Accountability and Justification under Uncertainty in Corporate Governance. Annals of Corporate Governance, 3(4), 276-407. https://doi.org/10.1561/109.00000016 [details]
- Nabilou, H., & Pacces, A. M. (2018). The Law and Economics of Shadow Banking. In IH-Y. Chiu, & I. MacNeil (Eds.), Research Handbook on Shadow Banking (pp. 7-46). (Financial Law Series). Edward Elgar. https://doi.org/10.4337/9781785362637.00008
- Pacces, A. M. (2018). Shareholder Activism in the Capital Markets Union. In E. Avgouleas, D. Busch, & G. Ferrarini (Eds.), Capital Markets Union in Europe (pp. 507-525). (Oxford EU Financial Regulation). Oxford University Press. https://doi.org/10.1093/oso/9780198813392.003.0023
2017
- Pacces, A. M. (2017). The Role of the Future in Law and Finance. Journal des Économistes et des Études Humaines, 23(2), 1-14. http://10.1515/jeeh-2017-0007
2016
- Pacces, A. M. (2016). A law and economics perspective on normative analysis. In B. V. K. . W. D. B. S. Taekema (Ed.), Facts and Norms in Law (pp. 171-197). Edward Elgar.
- Pacces, A. M. (2016). Exit, Voice and Loyalty from the Perspective of Hedge Funds Activism in Corporate Governance. Erasmus law review, 9(4), 199-216.
2015
- Pacces, A. M., & Romano, A. (2015). A Strict Liability Regime for Credit Rating Agencies. American Business Law Journal, 54(4), 673-720.
2014
- Pacces, A. M., Romano, A., & Troisi, A. (2014). Agenzie di rating e responsabilità civile: una soluzione "contrattuale". Mercato Concorrenza Regole, 2014(3), 571-590.
2013
- Pacces, A. M., & Dorenbos, E. M. (2013). Corporate Governance of Banks - Is More Board Independence the Solution? Dovenschmidt Quarterly, 2013(5), 46-61.
2012
- Heremans, D., & Pacces, A. M. (2012). Regulation of banking and financial markets. In R. J. Van den Bergh, & A. M. Pacces (Eds.), Encyclopedia of Law and Economics. - Volume 9: Regulation and Economics (2nd ed., pp. 558-606). Edward Elgar.
- Pacces, A. M. (2012). Rethinking Corporate Governance: The Law and Economics of Control Powers. (Routledge Research in Corporate Law). Routledge.
- Pacces, A. M. (2012). Regulation of banking and banks governance: when liquidity drives financial behaviour. European Journal of International Management, 6(6), 613-629. https://doi.org/10.1504/EJIM.2012.050424
2011
- Pacces, A. M. (2011). Controlling the Corporate Controller's Misbehaviour. Journal of Corporate Law Studies, 11(1), 177-214.
- Pacces, A. M. (2011). How does Corporate Law Matter? Law and Finance and Beyond. In M. Faure, & J. Smits (Eds.), Does Law Matter? On Law and Economic Growth (pp. 297-329). Intersentia. https://intersentia.be/nl/pdf/viewer/item/id/9789400002173_0/
- Pacces, A. M., & Visscher, L. T. (2011). Law and Economics - Methodology. In B. van Klink, & S. Taekema (Eds.), Interdisciplinary Research into Law (pp. 85-107). Mohr Siebeck. http://hdl.handle.net/1765/31466
2010
- Pacces, A. M. (2010). Consequences of Uncertainty for Regulation: Law and Economics of the Financial Crisis. European Company and Financial Law Review, 7(4), 479-511. https://www.degruyter.com/view/journals/ecfr/7/4/article-p479.xml
- Pacces, A. M. (2010). Uncertainty and the Financial Crisis. Journal of Financial Transformation, 2010(29), 79-93.
2008
- Pacces, A. M. (2008). "The Good, the Bad and the Ugly." Private Benefits of Control and their Regulatory Implications. Corporate Ownership & Control, 5(4), 477-491.
2005
- Bianco, M., Bianchi, M., Giacomelli, S., Pacces, A. M., & Trento, S. (2005). Proprietà e controllo delle imprese in Italia. Alle radici delle difficoltà competitive della nostra industria. Il Mulino.
2004
- Pardolesi, R., Pacces, A. M., & Portolano, A. (2004). Latte, lacrime (da coccodrillo) e sangue (dei risparmiatori). Note minime sul caso Parmalat. Mercato Concorrenza Regole, 2004(1), 193-215.
2000
- Pacces, A. M. (2000). Financial Intermediation in the Securities Markets: Law and Economics of Conduct of Business Regulation. International Review of Law and Economics, 20(4), 479-510.
2022
- Pacces, A. M. (2022). The Promise of EU Securities Regulation for a Sustainable Corporate Governance. In R. J. Gilson, M. Isaksson, E. Lidman, J. Munck, & E. Sjöman (Eds.), Festschrift in honour of Rolf Skog (pp. 991-1009). Norstedts juridik.
2021
- Martino, E. D. (Author), Pacces, A. M. (Author), & Kaja, F. (Author). (2021). Disintermediating Finance: Fintech and its Limitations. Web publication/site, The FinReg Blog. https://sites.law.duke.edu/thefinregblog/2021/01/08/disintermediating-finance-fintech-and-its-limitations/
- Pacces, A. M. (2021). Sustainable Corporate Governance: The Role of the Law. In D. Busch, G. Ferrarini, & S. Grünewald (Eds.), Sustainable Finance in Europe: Corporate Governance, Financial Stability and Financial Markets (pp. 151-174). (EBI Studies in Banking and Capital Markets Law). Palgrave Macmillan. https://doi.org/10.2139/ssrn.3697962, https://doi.org/10.1007/978-3-030-71834-3_5 [details]
2020
- Martino, E. D. (Author), Pacces, A. M. (Author), & Kaja, F. (Author). (2020). Debunking Fintech Inside and Outside the Blockchain. Web publication/site, The CLS Blue Sky Blog. https://clsbluesky.law.columbia.edu/2020/11/27/debunking-fintech-inside-and-outside-the-blockchain/
- Martino, E. D., & Pacces, A. (2020). Shareholders Right Directive II: the Italian Implementation. Revue Trimestrielle de Droit Financier, 2020(2), 43-55.
- Pacces, A. (Author), & Weimer, M. (Author). (2020). We need a European exit strategy for Covid-19 before it’s too late. Web publication/site, EUROPP - European Politics and Policy. https://blogs.lse.ac.uk/europpblog/2020/04/22/we-need-a-european-exit-strategy-for-covid-19-before-its-too-late/ [details]
- Pacces, A. M., & Weimer, M. (2020). De la division à la coordination: une approche européenne du Covid-19. Revue européenne du droit (RED), 01(00), 40-47. https://legrandcontinent.eu/fr/2020/06/29/de-la-division-a-la-coordination-une-approche-europeenne-du-covid-19/ [details]
2019
- Hill, C. (Author), & Pacces, A. M. (Author). (2019). The Neglected Role of Justification under Uncertainty in Corporate Governance and Finance. Web publication/site, Oxford Business Law Blog. https://www.law.ox.ac.uk/business-law-blog/blog/2019/03/neglected-role-justification-under-uncertainty-corporate-governance [details]
- Hill, C. A. (Author), & Pacces, A. M. (Author). (2019). The Neglected Role of Justification Under Conditions of Uncertainty. Web publication/site, Columbia Law School. https://clsbluesky.law.columbia.edu/2019/03/12/the-neglected-role-of-justification-under-conditions-of-uncertainty/ [details]
- Pacces, A. M. (2019). Hedge Fund Activism in Corporate Governance. In A. Marciano, & G. B. Ramello (Eds.), Encyclopedia of Law and Economics (2019 ed., Vol. 2). Springer. https://doi.org/10.1007/978-1-4614-7753-2_716, https://doi.org/10.1007/978-1-4614-7883-6_716-1 [details]
- Pacces, A. M. (2019). Shadow Banking. In A. Marciano, & G. B. Ramello (Eds.), Encyclopedia of Law and Economics (2019 ed., Vol. 3). Springer. https://doi.org/10.1007/978-1-4614-7753-2_717, https://doi.org/10.1007/978-1-4614-7883-6_717-1 [details]
- Pacces, A. M. (Author). (2019). Optimal Review of Related Party Transactions: The Case for NCS-dependent Directors. Web publication/site, Oxford Business Law Blog. https://www.law.ox.ac.uk/business-law-blog/blog/2019/04/optimal-review-related-party-transactions-case-ncs-dependent [details]
2018
- Pacces, A. M. (2018). Analisi economica del diritto: positive e normativa. In Giurisprudenza e autorita indipedenti nell'epoca del diritto liquido (pp. 35-56). La Tribuna.
- Pacces, A. M. (2018). Financial Regulation and the Euro: The Case for Law & Macroeconomics. In M. Faure, W. Schreuders, & L. Visscher (Eds.), Don’t Take it Seriously: Essays in Law and Economics in Honour of Roger Van den Bergh (pp. 253-269). Intersentia. [details]
- Pacces, A. M. (2018). Hedge Fund Activism in Corporate Governance. In A. Marciano, & G. B. Ramello (Eds.), Encyclopedia of Law and Economics (Living ed.). Springer. https://doi.org/10.1007/978-1-4614-7883-6_716-1, https://doi.org/10.1007/978-1-4614-7753-2_716
- Pacces, A. M. (2018). Shadow Banking. In A. Marciano, & G. B. Ramello (Eds.), Encyclopedia of Law and Economics (Living ed.). Springer. https://doi.org/10.1007/978-1-4614-7883-6_717-1, https://doi.org/10.1007/978-1-4614-7753-2_717 [details]
2017
- Nabilou, H. (Author), & Pacces, A. M. (Author). (2017). The Law and Economics of Shadow Banking. Web publication/site, Columbia Law School Blue Sky. http://clsbluesky.law.columbia.edu/2017/03/31/the-law-and-economics-of-shadow-banking/
- Pacces, A. M. (Author), & Nabilou, H. (Author). (2017). The Law and Economics of Shadow Banking. Web publication/site, Faculty of Law, University of Oxford. https://www.law.ox.ac.uk/business-law-blog/blog/2017/03/law-and-economics-shadow-banking
- Pacces, A. M. (Author). (2017). Hedge Fund Activism and the Revision of the Shareholder Rights Directive. Web publication/site, Harvard Law School Forum on Corporate Governance and Financial Regulation. https://corpgov.law.harvard.edu/2017/07/19/hedge-fund-activism-and-the-revision-of-the-shareholder-rights-directive/
- Pacces, A. M. (Author). (2017). Hedge Funds Activism as Conflict of Entrepreneurship. Web publication/site, Faculty of Law, University of Oxford. https://www.law.ox.ac.uk/business-law-blog/blog/2017/02/hedge-funds-activism-conflict-entrepreneurship
2016
- Pacces, A. M. (Author), & Romano, A. (Author). (2016). A proposal to help make credit ratings as accurate as possible. Web publication/site https://blogs.lse.ac.uk/businessreview/2016/10/17/a-proposal-to-help-make-credit-ratings-as-accurate-as-possible/
2015
- Pacces, A. M. (2015). Normative Law and Economics: Asking the Right Questions. Hamburg Law Review, 2015(2), 57-78.
- Pacces, A. M., & Nabilou, H. (2015). The Hedge Fund Regulation Dilemma: Direct vs. Indirect Regulation. William & Mary Business Law Review, 6(1), 183-236. https://scholarship.law.wm.edu/wmblr/vol6/iss1/6/
- Pacces, A. M., & Repasi, R. (Ed.) (2015). Quantitative Easing in Europe: What it is, why it is legal and how it works. EURO-CEFG Commentary.
2014
- Enriques, L., Gilson, R. J., & Pacces, A. M. (2014). The Case for an Unbiased Takeover Law (with an Application to the European Union). Harvard Business Law Review, 4(1), 85-127.
- Pacces, A. (Author), & Romano, A. (Author). (2014). A Strict Liability Regime for Rating Agencies. Web publication/site, Harvard Law School Forum on Corporate Governance and Financial Regulation. http://blogs.law.harvard.edu/corpgov/2014/08/25/a-strict-liability-regime-for-rating-agencies/
2013
- Pacces, A. M. (2013). Illiquidity and Financial Crisis. University of Pittsburgh Law Review, 74(3), 383-432.
- Pacces, A. M. (Author), Enriques, L. (Author), & Gilson, R. J. (Author). (2013). The Case for an Unbiased Takeover Law. Web publication/site, Harvard Law School Forum on Corporate Governance and Financial Regulation. https://blogs.law.harvard.edu/corpgov/2013/05/22/the-case-for-an-unbiased-takeover-law/
- Pacces, A. M. (Author). (2013). The Future in Law and Finance. Web publication/site, Harvard Law School Forum on Corporate Governance and Financial Regulation. https://blogs.law.harvard.edu/corpgov/2013/07/03/the-future-in-law-and-finance/
2012
- Pacces, A. M. (2012). Corporate Control and Incentives in a Dynamic Perspective. In Corporate Governance, Value Creation, and Growth: The Bridge between Finance and Enterprise (pp. 49-56). OECD Publishing.
- Pacces, A. M., & Van den Bergh, R. J. (2012). An introduction to the law and economics of regulation. In R. J. Van den Bergh, & A. M. Pacces (Eds.), Regulation and Economics (pp. 1-22). Edward Elgar Publishing. https://doi.org/10.4337/9781782540465.00005
- Van den Bergh, R. J., & Pacces, A. M. (Eds.) (2012). Encyclopedia of Law and Economics. - Volume 9: Regulation and Economics. (2nd ed.) Edward Elgar Publishing.
2010
- Pacces, A. M. (2010). An Introduction: changing perspectives on corporate law and economics. In A. M. Pacces (Ed.), The Law and Economics of Corporate Governance (pp. 1-22). Edward Elgar. https://doi.org/10.4337/9781849807081.00005
- Pacces, A. M. (2010). Corporate governance and Coase's Legacy: a reply to Henry Manne. In A. M. Pacces (Ed.), The Law and Economics of Corporate Governance - Changing Perspectives (pp. 202-212). Edward Elgar.
- Pacces, A. M. (2010). Imposed Protections in Banking Regulation: Lessons from the Financial Crisis. In F. G. M. Smeele, & M. A. Verbrugh (Eds.), 'Opgelegde bescherming' in het bedrijfsrecht (pp. 209-235). Boom Juridische Uitgevers.
- Pacces, A. M. (2010). Investor Protection is not All that Matters in Corporate Law and Economics. In L. Padmavathi (Ed.), Investor Protection - Transnational Perspectives (pp. 120-146). The Icfai University Press.
- Pacces, A. M. (Ed.) (2010). The Law and Economics of Corporate Governance: Changing Perspectives. Edward Elgar.
2009
- Pacces, A. M. (2009). Why Investor Protection Is Not All That Matters In Corporate Law and Economics. The Icfai University Journal of Corporate and Securities Law, VI(2), 8-28.
2008
- Pacces, A. M. (2008). Fondamenti economici della responsabilità (prima parte). Danno e responsabilità: problemi di responsabilità civile e assicurazioni, 2008(1), 101-109.
- Pacces, A. M. (2008). Fondamenti economici della responsabilità (seconda parte). Danno e responsabilità: problemi di responsabilità civile e assicurazioni, 2008(2), 225-237.
2007
- Pacces, A. M. (2007). Artt. 2506 - 2506quater (La scissione di società). In G. Bonfante, B. Corapi, G. Marziale, R. Rordorf, & V. Salafia (Eds.), Codice Commentato delle Società (2a ed., pp. 1543-1582). Ipsoa.
2006
- Pacces, A. M. (2006). Il ruolo economico della responsabilità giuridica. In P. Ciocca, & I. Musu (Eds.), Economia per il diritto: Saggi introduttivi (pp. 159-180). Bollati Boringhieri.
2004
- Pacces, A. M. (2004). Artt. 2506 - 2506quater (La scissione di società). In G. Bonfante, B. Corapi, B. Marziale, R. Rordorf, & V. Salafia (Eds.), Codice Commentato delle Nuove Società (1a ed., pp. 1341-1379). Ipsoa.
2000
- Pacces, A. M. (2000). Alla ricerca delle chances perdute: vizi (e virtà) di une costruzione giurisprudenziale. Danno e responsabilità: problemi di responsabilità civile e assicurazioni, 2000(6), 659-665.
1997
- Bartoloni, B., & Pacces, A. M. (1997). Il decreto Eurosim e la nuova disciplina dell'intermediazione mobiliare. Rivista della Guardia di Finanza, 1997(3), 1141-1166.
1996
- Pardolesi, R., & Pacces, A. M. (1996). Clausole vessatorie e analisi economica del diritto: note in margine alla ragioni (e alle incongruenze) della nuova disciplina. Diritto Privato, 377-426.
1994
- Pacces, A. M. (1994). Competizioni automobilistiche: nuovo terreno fertile per il risarcimento delle chances perdute? Rivista del diritto sportivo, 1994(2-3), 447-460.
2018
- Perényi, Á., Pacces, A. M., & Germain, L. (2018). Book Review: A.N. Kostyuk, U. Braendle, V. Capizzi (2017), "Corporate governance: New challenges and opportunities". Corporate Board: Role, Duties and Composition, 14(1), 57-58. https://doi.org/10.22495/cbv14i1art5
2017
- Pacces, A. M. (2017). Law and Economics of Hedge Fund Activism. Ethical Boardroom, 2017(Summer), 108-110. http://hdl.handle.net/1765/107032
2013
- Pacces, A. M. (2013). The Future in Law and Finance. The Hague: Eleven International Publishing.
2010
- Eger, T., & Pacces, A. M. (2010). The European Master in Law and Economics: A Programme with a Focus on the Economics of the Europeanization and Internationalization of the Law. Revista de Educación y Derecho, 2010(2), 85-106.
2019
- Jameel, I. (2019). The Impact of Capital Regulation on Bank Involvement in Securitized Banking.
2008
- Pacces, A. M. (2008). Featuring Control Power: Corporate Law and Economics Revisited. Erasmus University Rotterdam. http://hdl.handle.net/1765/10907
2018
- Pacces, A. M. (2018). Procedural and Substantive Review of Related Party Transactions (RPTs): The Case for Non-Controlling Shareholder-Dependent (NCS-Dependent) Directors. (ECGI-Law Working; No. 399/2018 (May 2018)). European Corporate Governance Institute (ECGI). http://www.ecgi.global/working-paper/procedural-and-substantive-review-related-party-transactions-rpts-case-non-controlling.
2014
- Pacces, A. M., & Romano, A. (2014). A Strict Liability Regime for Rating Agencies. (pp. 34). (European Corporate Governance Institute (ECGI) - Law Working Paper; No. 245/2014). European Corporate Governance Institute (ECGI). http://ssrn.com/abstract=2405509
This list of publications is extracted from the UvA-Current Research Information System. Questions? Ask the library or the Pure staff of your faculty / institute. Log in to Pure to edit your publications. Log in to Personal Page Publication Selection tool to manage the visibility of your publications on this list. -
Ancillary activities
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Columbia Law School
Visiting Professor of Law
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Columbia Law School
Pacces, A. M. (2021). Will the EU Taxonomy Regulation Foster Sustainable Corporate Governance? Sustainability, 13(21), [12316].