Francesca Toscano

Francesca Toscano

Title

Assistant Professor of Finance

Phone

313-577-6884

Email

toscanof@wayne.edu

Office

Mike Ilitch School of Business
2771 Woodward Avenue
Room 376
Detroit, MI 48201

Academic Programs

  • Finance

Francesca Toscano

Biography

Professor Francesca Toscano received her B.A. in Economics and Finance from the University of Salerno in 2008, her M.S. in Economics and Finance from the University of Salerno in 2010, her Post-Graduate Master in Economics and Finance from the University of Naples Federico II in 2011, her M.A. in Economics from Boston College in 2014 and her PhD in Financial Economics from Boston College in 2017.

She is an active researcher, engaged in work on corporate finance, corporate governance, monetary economics and financial economics. She has published works on these subjects in The Journal of Financial Stability, Review of Financial Economics, Journal of Banking and Finance and Journal of Corporate Finance.

She currently instructs classes on Corporate Financial Management and Emperical Methods in Finance.

Education

Ph.D.,Financial Economics, Boston College, Chestnut Hill, MA2017
Dissertation Title: “Essays in Corporate Finance: Credit Ratings, Equity Analysts and CEO Turnover”

Post Graduate Master in Economics and Finance, Economics and Finance, XV edition, University of Naples Federico II, Naples, Italy, 2011

M.S., Economics and Finance, Summa cum Laude, University of Salerno, 2010, Salerno, Italy

M.A., Economics, Boston College, Chestnut Hill, MA, 2014

B.A., Economics and Finance, Summa cum Laude, University of Salerno, 2008, Salerno, Italy
 

Expertise

  • Financial Economics
  • Applied Economics
  • Behavioral Economics 
  • Credit ratings
  • Regulations
  • Role of equity analysts
  • Dynamics of CEO turnover
  • Trade Credit
  • Policy Uncertainty
  • Debt Maturity Structure

AACSB specialty

Finance - incl Banking

Research and teaching interests

Research Interests:

  • Corporate Finance
  • Corporate Governance
  • Monetary Economics
  • Financial Economics

Teaching Interests:

  • International Finance
  • Business Finance
  • Corporate Financial Management
  • Empirical Corporate Finance

Publications

Top Executive Gender, Corporate Culture, and the Value of Corporate Cash Holdings with Sudip Datta (Wayne State University) and Trang Doan (Eastern Illinois University), Journal of Financial Stability, 2023, Accepted.

The Declining Trend in Trade Credit Ratios; The Impact of Firm-Specific and Macro-Factors (co-authored with R D'Mello and M. Gruskin), Review of Financial Economics, October 2021.

Top Executive Gender, Board Gender Diversity, and Financing Decisions: Evidence From Debt Structure Choice (co-authored with S. Datta and T. Doan), Journal of Banking and Finance, Vol. 125, April 2021.

Policy Uncertainty and Short-Term Financing: The Case of Trade Credit (co-authored with R. D'Mello), Journal of Corporate Finance, Vol.64, October 2020.

Does the Dodd-Frank reduce the conflict of interests of credit rating agencies?, Journal of Corporate Finance, Vol. 62, June 2020

Presentations

“Does the Dodd-Frank Act Reduce the Conflicts of Interest Faced by Credit Rating Agencies?” 

  • Northern Finance Association Meeting, Charlevoix, September 2018.
  • Southern Finance Association Meeting, Florida, November 15 – 18, 2017
  • Federal Reserve Bank of Boston, January 2017
  • Wayne State University, Department of Finance, November 2016
  • Finance and Economics Conference 2016, Frankfurt am Main, Germany, Lupcon, August 2016
  • CSEF Lunch Talk, University of Naples, May 2015
  • Dissertation Workshop, Department of Economics, Boston College, (March 2015, December 2015, September 2016)

“CEO Turnover and Credit Rating Changes: Theory and Evidence” (co-authored with A. M. C. Menichini)

  • Southern Finance Association Meeting, Florida, November 15 – 18, 2017
  • 13th Csef-Igier Symposium on Economics and Institutions, Capri, 26-29 June, 2017
  • Financial Management Association Conference, Lisbon, June 22-23, 2017
  • World Finance Conference, Sardinia, July 26-28, 2017
  • Dissertation Workshop, Department of Economics, Boston College, (March 2016)

"Suppliers as Financiers of the Last Resort: The Effect of Exogenous Changes in Analyst Coverage on Trade Credit" (co-authored with T. J. Chemmanur)

  • Financial Management Association, New Orleans, 23-26 October, 2019
  • Midwest Finance Association Meeting, Chicago, March 2019
  • Wayne State University, Brown Bag Seminar, October 2018

"Credit Rating Agencies, Equity Analyst Recommendations and Information Flows to the Bond and Stock Markets" (co-authored with T. J. Chemmanur and I. Karagodsky)

  • Financial Management Association, New Orleans, 23-26 October, 2019

"Policy Uncertainty and Short-Term Financing: The Case of Trade Credit" (co-authored with R. D'Mello)

  • Eastern Finance Association Meetings, Boston, April 2020
  • Wayne State University, Brown Bag Seminar, February 2019

"The Declining Trade Credit Ratio Puzzle" (co-authored with R. D'Mello and M. Gruskin)

  • Financial Management Association Meetings, New York, October 2020
  • Eastern Finance Association, Boston, April 2020

Courses taught by Francesca Toscano

Winter Term 2024 (current)

Fall Term 2023

Winter Term 2023

Fall Term 2022