Erasmo Giambona

Professor of Finance, Falcone Chair in Real Estate
Erasmo
Erasmo Giambona is an internationally recognized researcher whose work lies at the intersection of corporate finance, real estate, risk management, and organizational economics. He is Professor of Finance and the Michael J. Falcone Chair in Real Estate at Syracuse University’s Whitman School of Management, and serves as an Associate Editor for the Journal of Financial Intermediation. His research uses real estate, collateral, and other tangible assets to address fundamental questions in corporate finance and firm organization. His work was the first to show that the redeployability of collateral, rather than simply its quantity, fundamentally shapes corporate financing decisions, and that firms with higher quality real estate collateral are often better off relying more heavily on unsecured debt financing. Professor Giambona’s research also reshaped the risk management literature by showing that firms’ hedging decisions depend not only on the demand for hedging, as traditionally assumed, but also on the supply of hedging instruments and intermediary risk-bearing capacity. More recently, his work on supply chains challenged the conventional emphasis on supplier risk by demonstrating the importance of buyer risk in shaping supply-chain relationships and organizational decisions. Across these areas, his scholarship emphasizes counterparty risk and financial interdependence.

Prior to joining Syracuse University, Giambona was a tenured Associate Professor at the University of Amsterdam and has held visiting appointments at Cornell University, Yale University, the University of Southern California, Luiss University, and Bocconi University.
Real Estate Capital Markets (undergraduate and graduate)
Real Estate Finance (undergraduate and graduate)
Corporate Finance (Ph.D. level course)
Corporate Finance and Real Estate

Papers

  • Underdiversification and Housing Risk Premia

    Eiling, E., Lopez A., R., Tuijp, P.

  • Global Supply Chain Disruptions and Product Market Competition

    Aral, K., Lopez A., R., Phillips, G.

Publications

  • Hedging, Contract Enforceability, and Competition

    2025 Review of Financial Studies,38,7,2034-2087, Kumar, A., Phillips, G.

  • Board Gender Diversity and Supply Chain Risk Management

    2025 Production & Operations Management ,

  • Unveiling the Price of Obscenity in the Housing Market: Evidence from Closing Brothels in the Netherlands

    2023 Journal of Policy Analysis and Management, Ribas, R.

  • The External Cost of Prostitution: Evidence from Shutting Down Red Light Districts in the Netherlands

    2023 Real Estate Economics, Ribas, R.

  • Buyer's Bankruptcy Risk, Sourcing Strategy, and Firm Value: Evidence from the Supplier Protection Act

    2022 Management Science, Aral, K., Wang, Y.

  • Derivatives Supply and Corporate Hedging: Evidence from the Safe Harbor Reform of 2005

    2020 Review of Financial Studies,33,11,5015–5050, Wang, Y.

  • A View Inside Corporate Risk Management

    2019 Management Science,65,11, Bodnar, G., Graham, J., Harvey, C.

  • Real Assets and the Limits of Debt Capacity: Theory and Evidence

    2018 Real Estate Economics,46,4, Mello, A., Riddiough, T.

  • Liquidity Management and Corporate Investment During a Financial Crisis

    2011 Review of Financial Studies,24,6,1944-1979, Campello, M., Graham, J., Harvey, C.

  • Jan 01, 2026

    Received - Whitman Senior Faculty Research Award

    Whitman School of Management/Syracuse University
  • May 10, 2020

    Whitman’s Senior Faculty Research Award

    Syracuse University - Whitman
  • Jan 01, 2020

    Pearson Prize for the Best Paper in Financial Management - First Place

    Financial Management

  • Received - GRANT -- Lender Center for Social Justice

  • Hedge Fund Activists Might Just Be Good Stock Pickers

    December 22, 2023 Institutional Investor

  • Unveiling the Price of Obscenity

    December 08, 2023 Marginal Revolution