Erasmo Giambona

Erasmo Giambona is a Professor of Finance and the Michael J. Falcone Chair in Real Estate. Currently, he serves as an Associate Editor for the Journal of Financial Intermediation. Professor Giambona's research was the first to identify the importance of corporate real estate in explaining how companies make financial decisions, showing that varying degrees of redeployability across different types of collateral are important in explaining corporate capital structure. Contrary to established wisdom, Professor Giambona’s research has further shown that firms with higher quality real estate collateral do not pledge this collateral to secured lenders but instead they are better off relying more on unsecured debt financing. Erasmo’s research was also the first to identify the supply of hedging instruments as an important driver of how companies make risk management decisions. He has published numerous papers in premier journals. Prior to coming to the Whitman School, Giambona served as a tenured Associate Professor of Finance and Real Estate at the University of Amsterdam in the Netherlands. He has been a visiting professor at Cornell University, Yale University, University of Southern California, and Bocconi University (Milan, Italy).

Corporate Finance and Real Estate