Prof. Patrick Gagliardini

Patrick Gagliardini is Professor of Econometrics at the Università della Svizzera italiana. His papers have been published in the top academic journals in finance, economics, and financial econometrics.

Professor Gagliardini focuses on how skills, scalability, and value creation interact within the mutual fund industry. To do so, he develops a flexible and nonparametric framework. Data covering all open-ended actively managed US equity firms between 1975 and 2019 shows that most funds are skilled and able to extract value from capital markets, that skills and scalability are distributed in a largely heterogeneous manner, and that investors learn about fund ability over time. These results contribute to the debate on the size of actively managed funds versus passively managed ones within capital markets.

• Financial Markets
  • Systemic Risk and Regulation
• Portfolio Management and Asset Classes
  • Asset Pricing
  • Equities
  • Options and Other Derivatives
  • Portfolio Management
• Frontier Topics
  • Big Data and Fintech