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Prof. dr. A.M. (Alessio M.) Pacces

Faculty of Economics and Business
Faculty of Law

Visiting address
  • Nieuwe Achtergracht 166
  • Room number: A6.07
Postal address
  • Postbus 15842
    1001 NH Amsterdam
Contact details
  • Who I am

    I am Professor of Law & Finance at the Amsterdam Law School and the Amsterdam Business School. I am  the Director of the Amsterdam Center for Law & Economics (ACLE) and a former Director of the LL.M. Master in Law & Finance. Moreover, I am 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 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, 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 University Press and Oxford University Press, among others. I was invited to speak at several universities in Europe, Asia, Israel, and the U.S.A. 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

    My CV

  • Publications

    2018

    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.

    2023

    2021

    2020

    2019

    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: Legal and Regulatory Aspects (pp. 7-46). (Research Handbooks in Financial Law). 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. (2013). Illiquidity and financial crisis. University of Pittsburgh Law Review, 74(3), 383-432. https://doi.org/10.5195/lawreview.2013.260
    • 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

    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.
    • Pacces, A. M. (2008). "The good, the bad, and the ugly" private benefits of control and their regulatory implicatoins. Corporate Ownership and Control, 5(4 E CONT. 4), 477-491. https://doi.org/10.22495/cocv5i4c4p7

    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.
    • 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. https://doi.org/10.1016/S0144-8188(00)00047-8

    2023

    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

    2020

    2019

    2018

    2017

    2016

    2015

    • Nabilou, H., & Pacces, A. M. (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. (2015). Normative Law and Economics: Asking the Right Questions. Hamburg Law Review, 2015(2), 57-78.
    • 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

    2013

    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: Changing Perspectives (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

    2013

    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.

    2021

    • Ghibellini, E. (2021). Bank Crisis Management and State Aid in the EU. [Thesis, internally prepared, Erasmus University Rotterdam]. http://hdl.handle.net/1765/131108
    • Spence, R. (2021). Collateral Transactions and Shadow Banking. [Thesis, fully external, Universiteit Leiden, Leiden, Erasmus University Rotterdam]. https://hdl.handle.net/1887/3217145

    2020

    • Martino, E. D. (2020). Bank Governance and the Bail-in in the EU: A Law & Finance analysis on the role of bail-inable creditors. [Thesis, internally prepared, Erasmus University Rotterdam]. http://hdl.handle.net/1765/130437
    • Reyes, R. (2020). Better Regulation in Latin American Countries: A tool for accountability? [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/131108

    2019

    • Jameel, I. (2019). The Impact of Capital Regulation on Bank Involvment in Securitized Banking. [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/114737

    2017

    • Arif, A. (2017). Deciphering Securitisation and Covered Bonds : Economic analysis and regulations. [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/102980

    2015

    2014

    • Chahar, V. (2014). The Influence of Direct Democracy on Agency Costs: Lessons from Corporate Governance. [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/76951
    • Nabilou, H. (2014). The Law and Economics of Hedge Fund Regulation. [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/51545

    2013

    • Akun, D. (2013). Banking Regulation in Turkey and Russia: An Economic Analysis. [Thesis, fully external, Erasmus University Rotterdam]. http://hdl.handle.net/1765/40397

    2008

    • Pacces, A. M. (2008). Featuring Control Power: Corporate Law and Economics Revisited. [Thesis, fully external, Erasmus University Rotterdam]. Erasmus University Rotterdam. http://hdl.handle.net/1765/10907

    2023

    • Martino, E. D., Pacces, A. M., & Nabilou, H. (2023). Comparative Financial Regulation: The Analytical Framework. (European Corporate Governance Institute - Law Working Paper; Vol. 2023, No. 726), (Amsterdam Center for Law & Economics Working Paper; Vol. 2023, No. 10). https://doi.org/10.2139/ssrn.4522348
    • Pacces, A. M. (2023). Controlling Shareholders and Sustainable Corporate Governance: The Role of Dual-Class Shares. (European Corporate Governance Institute - Law Working Paper; Vol. 2023, No. 700). European Corporate Governance Institute (ECGI). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4412205

    2018

    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
    • Columbia Law School
      Visiting Professor of Law
    • Droit & Croissance
      Member of the Steering Committee
    • European Corporate Governance Institute
      Research Member
    • European Banking Institute
      Fellow Academic Member