Carola Schenone headshot
CS

Carola Schenone

Associate Professor
Unit: McIntire School of Commerce
Department: McIntire School of Commerce
Office location and address
Rouss & Robertson Halls, Room 362
125 Ruppel Dr
Charlottesville, Virginia 22904
Education
Ph.D., Economics, Northwestern University
Master, Economics, Northwestern University
Master, Economics, Universidad de San Andres, Buenos Aires, Argentina
B.A., Economics, Universidad de San Andrés, Buenos Aires, Argentina
Biography
Professor Schenone’s fields of specialization include empirical corporate finance and empirical industrial organization, with a focus on capital structure issues; bank-firm lending relationships; and the effects of corporate bankruptcy on product market competition, quality, and CEO turnover. Professor Schenone joined McIntire in 2004 after two years as an Assistant Professor at the University of Minnesota’s Carlson School of Management. She has authored several articles and working papers, and her solo authored paper published in The Journal of Finance in 2004 was nominated for the 2005 Journal of Finance Brattle Prize and was reprinted in the volume of Financing Entrepreneurship, from The International Library of Entrepreneurship (edited by Philip Auerswald of George Mason University's School of Public Policy and Ant Bozkaya, former research fellow at Harvard University's John F. Kennedy School of Government; published by Edward Elgar Publishing Ltd.). Professor Schenone also serves as a referee for several academic journals in finance and economics, including The Journal of FinanceThe Review of Financial Studies; and Journal of Financial Intermediation. In 2013, Professor Schenone was awarded the “Outstanding Referee Award” by Journal of Financial Intermediation. Professor Schenone's research has been presented in several academic institutions as well as policy institutions such as the Securities and Exchange Commission, the Federal Reserve Board, and the Federal Reserve Banks of Chicago and New York. She has presented and discussed papers at several finance conferences, including the Western Finance Association Meeting and the American Finance Association Meetings and the Econometric Society Meetings.
COMM 3720: Intermediate Corporate Finance
Credits: 3
A rigorous introduction to the full field of finance. Students should gain an appreciation of the role of financial markets and institutions in our economy as well as an introduction to the responsibilities, concerns, and methods of analysis employed by corporate financial managers. We focus on the two fundamental aspects of financial decision-making: time value and risk (modern portfolio theory, the capital asset pricing model, and alternatives). The concepts of time value and risk are used to value the two basic financial assets, bonds and stocks, as well as real assets, investment projects, and companies. In addition, the course introduces derivative securities (options, futures) and discusses their application in a wide variety of settings (real options, contingent claims valuation of equity). The course also covers the theory and practice of capital structure decisions (Modigliani and Miller, taxes, bankruptcy costs, asymmetric information, agency) and dividend decisions. The course will include a thorough discussion of market efficiency and an introduction to the field of behavioral finance. A unifying theme of the course is how no-arbitrage conditions and the law of one price can be used to value most financial assets. The emphasis in this course (both in and out of class) will be on problem solving. Prerequisite: COMM 3010, 3020, and 3030.
COMM 4720: Advanced Corporate Finance: Valuation and Restructuring
Credits: 3
This course covers corporate valuation and the restructuring of both non-distressed firms (for example, leveraged buyout transactions) and distressed firms. Prerequisite: fourth-year Commerce.