FORTUNE
Financial Oversight and Risk-Tailored Understanding for New Evaluation: FORTUNE
Abstract
FORTUNE is a multidisciplinary project advancing risk evaluation and assessment across finance, economics, and industry. It is aligned with European initiatives aimed at enhancing transparency and accountability in financial and non-financial reporting. It addresses digital economy challenges, emphasizing efficient risk management, highlighted by the 2007-2008 financial crisis, the UK's EU withdrawal, and the global energy crisis post-COVID-19 and recent conflicts. This project underscores the need for robust risk strategies in an interconnected world.
Central to FORTUNE's mission is the investigation of sustainability's increasing impact on market strategies, corporate valuation and strategic planning, with a particular focus on the pivotal area of energy transition. The project distinguishes itself through its diverse and expert team, combining knowledge in quantitative methods, law, business and finance. This rich blend of expertise facilitates deeper insights into the effects of Environmental, Social, and Governance (ESG) factors on market and corporate strategies, and aids in streamlining risk assessment processes.
Methodologically, FORTUNE adopts a tri-fold approach, concentrating on risk evaluation and assessment through ordinal models, dependency models, and the analysis of financial system interconnectedness. These methods collectively aim to forge a robust, comprehensive framework for risk evaluation, taking into account the nuances of European legislative impacts.
The project's output will encompass an array of national and international journal publications, all geared towards disseminating crucial findings and stimulating engagement among a broad spectrum of stakeholders. FORTUNE is set to host a least one international conference, providing platforms for discussion and knowledge exchange. Additionally, it will foster the next generation of researchers by involving young academics and students in a data contest, enhancing learning and introducing fresh perspectives.
FORTUNE stands as a beacon of change in the field of risk evaluation and management. It exemplifies the indispensable role of multidisciplinary approaches in navigating and deciphering the complexities of the financial landscape.
6. Description of research unit
The research team, based at DEM-UNIPV, comprises 27 members in total. This includes 7 Professors of DEM-UNIPV, 2 PhD students, 1 postdoctoral researcher, and 17 other researchers (affiliated with European universities).
Subsequently, for each DEM-UNIPV unit member, we will present a concise overview of their significant experiences along, a list of selected publications (3 for each member) is provided at the beginning of Section 8. Additionally, a succinct summary of the expertise possessed by the other researchers is delineated in Table 1.
- Full Professor: FP
- Associate Professor: AP
- Adjunct Professor: AdP
- Lecturer: L
- Research fellow: RF
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Maria Elena De Giuli (AP) PI of the project |
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Main research interests: quantitative finance, models and methods in Economics and Finance with application to Energy markets and Business.
Faculty member of the Master in Energy and Environmental Management and Economics. Member of the Scientific Board of Phd Program in Analytics for Economics and Management (UNIBS). Member of the Cost action CA19130 “Fintech and Artificial Intelligence in Finance”. |
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Claudia Tarantola (AP) (from 1st July 2024 - FP at University of Milan). CO-PI of the project |
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Main research interest: categorical data, Bayesian analysis, diversity and inclusion, graphical models, MCMC, financial risk models, ordinal data.
Member of the Scientific Board of the Phd program in Applied Economics and Management (UNIPV). Member of the Management Committee of the Cost action CA19130 “Fintech and Artificial Intelligence in Finance” and Co-Leader of the Diversity Team of the action. Associate Editor of JASA. |
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Paolo Benazzo (FP) |
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Main research interest: Company Law, Commercial Law, Capital Markets and Finance Law, Insolvency Law with particular attention to SME, corporate governance, start up, corporate and organizational governance structures.
Member of the two National Association of Commercial Law Italian Professors (Associazione Disiano Preite and Orizzonti del Diritto Commerciale). Member of the Panel of Professors coordinating a PHD Program at the University of Pavia. Selected as expert referee in the Italian National VQR Programs as well as member of the National Commission for the qualifying examination for candidates as University Professors in Business Law. |
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Maria Elena Gennusa (AP) |
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Main research interests: multilevel protection of fundamental rights; human rights and sustainable development; anti-terrorism measures, security and fundamental rights; non-discrimination, diversity and inclusion; supra-national democracy.
Member of “Note dall’Europa”, the European Monitoring Board of Quaderni costituzionali. |
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Edoardo Grossule (L) |
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Main research interest: financial market law and banking law; derivatives regulation and banking bond regulation.
Member of the Associate Research Group (ARG) of the European Banking Institute (EBI), member of the editorial committee of RDS – Rivista di Diritto Societario and of the editorial committee of Rivista di Diritto Bancario. |
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Mariasofia Houben (AP) |
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Main research interests: related party transactions; (Share) capital in Europe, Italy and China and directors' accountability; corporate and organizational governance structures; Code of Corporate governance; Board committees.
Member of the editorial committee of Banca, borsa e titoli di credito and of Banca, impresa e società. |
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Mario Maggi (AP) |
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Main research interest: applied optimization methods, financial markets, risk measurement and management, empirical analysis in finance.
Member of the Scientific Board of the Phd in Social Sciences and Economics (UNIROMA1). |
Table 1: External researchers
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Name & Surname |
Position & Affiliation |
Expertise |
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Almendra Awerkin |
RF (UNIPV) |
Stochastic optimal control, game theory, energy transition |
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Riccardo Barmante
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AdP (UNICAT) |
Risk assessments; credit risk models; financial time series |
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Barbara Będowska-Sójka |
FP (PUEB, PL) |
Time-series, risk management, network models |
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Petros Dellaportas |
FP (AUEB, GR-UCL, UK) |
Multivariate volatility models, macroeconomics forecasting, Bayesian computation, machine learning |
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Codruta Mare |
FP (FSEGA, RO) |
Time-series, Risk assessments, spatial econometrics |
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Maria Iannario |
AP (UNINA) |
Ordinal data, mixture models, latent variables, sustainable finance |
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Coita Ioana Florina |
L (UORADEA, RO) |
Decision-making, risk assessment, behavioural finance, credit scoring |
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Silvia Facchinetti |
L (UNICAT) |
Risk model; ordinal model; sample selection bias |
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Sabrina Giordano |
AP (UNICAL)
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Ordinal data, mixture models, income data analysis, financial capability, latent variables |
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Giacomo Livan |
AP (UNIPV) |
Socio-economic complex systems, opinion dynamics, social network models |
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Sofia Giantsidi |
PhD student (UNIPV) |
Data analysis, applied econometrics, forecasting, machine learning, reservoir computing |
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Silvia Osmetti |
AP (UNICAT) |
Copula model; risk model; ordinal model; Sample selection bias; Binary imbalanced sample; P2P lending; SME |
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Belma Ozturkkal |
FP (KHAS, TR) |
Behavioral finance, ESG, studies, corporate finance |
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Alessia Paccagnini |
AP (UCD, IE) |
Macroeconometrics, time series, big data, applied econometrics |
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Cristiano Salvagnin |
PhD Student (UNIBS) |
Bayesian methods, Machine Learning, Portfolio management, Financial Risk |
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Rezarta Perri |
FO (UT, AL) |
Risk assessment; internal controls; financial analysis; business valuation |
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Jana Peliova |
AP (EUBA, SK ) |
Behavioral biases, experimental and behavioral finance |
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Giorgio Pellati |
Adp (UNIPV) |
ESG; Company Valuation; Risk assessments; Business Plan |
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Albulena Shala |
AP (UNPR, KOSOVO) |
Panel data, NPL, procyclicality, banking sector, income smoothing |
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Ioannis Vrontos |
AP (AUEB,GR) |
Predictive modeling, Bayesian methods, Machine Learning, Portfolio management, Financial Risk |