Italy Associate Professor of Finance University of Macerata Visiting Faculty
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Nicoletta Marinelli is an Associate Professor of Finance at the Department of Economics and Law, University of Macerata – Italy, where she teaches Financial Risk Management and Behavioral and Sustainable Finance. At Bologna Business School, she teaches Behavioral Finance in the Master in Fintech and Finance. Her main academic interests are in the area of behavioral finance, corporate finance, corporate hedging, alternative and social impact investments. She is the winner of the Best Paper Award at the 4th Social Impact Investments International Conference (2020). She has also participated to a Research project funded by the Ministry of Education on Financial Risk Tolerance for the years 2007-2010 and she was also the Local Coordinator for another Research project funded by the Ministry of Education on Social Impact Finance for the years 2017-2020. Over the course of her research activity, she has developed specific skills in the use of a network approach to investigate finance and corporate finance phenomena. For instance, in her co-authored paper “Institutional investor network and firm value” (Journal of Business Research, 2020) she analyzed the network of US active institutional investors and the resulting impact on firm value.


This course provides an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality are overwhelmingly contradicted by both psychological research and empirical evidence. The course gives an introduction into this field and includes results from behavioral finance that help to understand many puzzles in traditional finance. The psychology of dealing with automated financial counterparts/advisors as opposed to humans will also be discussed.

Finance and Fintech