Giovanni Cespa obtained a PhD in Economics from the Universitat Autonoma de Barcelona. He has previously held teaching and visiting positions in various institutions such as the Universitat Pompeu Fabra (Barcelona), the University of Salerno (Italy), Ente Einaudi (Rome), IESE (Barcelona), and Queen Mary, University of London. His research interests are in the areas Market Microstructure, Corporate Finance, and Corporate Governance. Giovanni has published his articles in the Review of Economic Studies, the Journal of Finance, the Review of Financial Studies, and the Rand Journal of Economics, among others. Currently, he is a research fellow at the CEPR (Financial Economics programme).