Published Papers

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  • Forecasting Prices in Regime-Switching Markets (With M.González-Rozada). Journal of Portfolio Management, Summer 2015.
  • The Misvaluation Curse in Mergers and Acquisitions, Journal of Corporate Accounting and Finance, 27(2), January-February 2016.
  • The Opportunity Cost of Venture Capital, Journal of Private Equity, 18(4), Fall 2015 (forthcoming).
  • Does Venture Capital Pay? New Evidence on an Old Question, Journal of Corporate Accounting and Finance, 26(5), July-August 2015, pp. 93-98.
  • The Venture Capital Premium: A New Approach, Journal of Private Equity, 18(3), Summer 2015, pp. 7-18.
  • AmerisourceBergen: The Brazilian Acquisition. Universidad Torcuato Di Tella, August 2014. 
  • The Beta Dilemma in Emerging Markets, Journal of Applied Corporate Finance 22(4), Fall 2010, pp.110-122.
  • Revista de Instituciones, Ideas y Mercados, 50, Mayo 2009, pp. 8-36.   
  • Montefiore S.p.A.: Pricing a Public Stock. HEC Paris School of Management, September 2014.
  • Kindle Fire: Project Economics. Universidad Torcuato Di Tella, September 2014. 
  • Uzala Watches: Crowdfunding a New Venture in Argentina. Universidad Torcuato Di Tella, June 2014.
  • OTR Brazil: Prototyping Growth in a Technology Startup. Universidad Torcuato Di Tella, June 2014.
  • Guo Industries (B): Executing a Buy-Sell Agreement in China. Universidad Torcuato Di Tella, November 2012.
  • Guo Industries (A): Value-Based Management in China. Universidad Torcuato Di Tella, November 2011.
  •  A Note on Value Creation. Universidad Torcuato Di Tella, November 2010.
  • The Value Effects of Strategic Alliances: Renault-Volvo and Renault-Nissan. Universidad Torcuato Di Tella, November 2010. Discusses value creation and destruction in strategic alliances. Advanced MBA level case for the Corporate Finance course, EMBA, HEC Paris.
  • ESI Group: Is the Price Right? Universidad Torcuato Di Tella, November 2010.
  • Antipolis Consulting: Advising High-Tech Companies in France. Universidad Torcuato Di Tella, June 2010. Advanced MBA-level case about defining entrepreneurial goals, new venture valuation and venture capital financing of a startup in the Sophia-Antipolis technopole. Used at HEC and UTDT.
  • The Practice of Investment Valuation in Emerging Markets: Evidence from Argentina, Journal of Multinational Financial Management, 16 (2), April 2006.
  • Paradise lost: the lessons of Argentina for international investors, Journal of Corporate Accounting and Finance, 13 (6), Sept-Oct 2002.
  • The valuation of closely-held companies in Latin America, Emerging Markets Review, Vol (2/4), 2001b,pp.330-370.
  • Tango & Cash: Entrepreneurial Financing & Venture Capital in Argentina, Venture Capital: An International Journal of Entrepreneurial Finance, Vol.3, N4, 2001a, pp.291-308. Also presented at the Entrepreneurship Research Conference, Babson College, Wellesley (USA), June 2000.
  • La Determinación del Costo del Capital en la Valuación de Empresas de Capital Cerrado: una Guía Práctica. Instituto Argentino de Ejecutivos de Finanzas y Universidad Torcuato Di Tella, Marzo 2000 (with M.Galli).
  • The TCN Investment Project: Crafting a Venture Capital Deal in an Emerging Market. Universidad Torcuato Di Tella, November 2006.
  • Day One at QDS Chemicals: Taking Charge of a Smaller Firm, Universidad Torcuato Di Tella, November 2006.
  • Tetrafarma: Financial Restructuring of a Troubled Company in an Emerging Market, Universidad Torcuato Di Tella, November 2006.
  • Izmir Kimya: A Cross-Border Acquisition in the Turkish Chemical Industry, Universidad Torcuato Di Tella, November 2005.
  • Caucasian Genomics: Analyzing the true value of real options in a biotech startup. Universidad Torcuato Di Tella, December 2003.
  • China Relocation Services: Defining Entrepreneurial Goals in An International Context. Universidad Torcuato Di Tella, December 2003.
  • The Merigiana-Miltex Acquisition: Valuing an M&A Deal under a Severe Macroeconomic Storm, Universidad Torcuato Di Tella, July 2003.
  • Patagon.com: Building (and Defending) the First Financial Destination in Latin America, Harvard Business School, 9-800-185, October 25, 1999 (with R. Montealegre & W.A. Sahlman).

Working Papers

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  • Why Some Managers Just Don’t Learn? An Empirical Examination. 2015. UTDT Working Paper.
  • Investing in the Beta Space. 2015. UTDT Working Paper.
  • Defining entrepreneurial goals in an international context: A quantitative approach. Working Paper, Darden Graduate School of Business. Under review.
  •  Valuing acquisitions in troubled markets: An Extreme Framing Approach. Working Paper, Kenan-Flagler Business School, University of North Carolina at Chapel Hill, February 2003. Accepted for presentation at the XIV Annual Conference of the Academy of Entrepreneurial Finance, De Paul University, Chicago, May 2003. Underreview.
  • Globalization and the Breeding of Advanced Service Ventures in Emerging Economies. Presented at the point University of New Mexico-Universidad Di Tella conference on: Integración: Mercosur y NAFTA, November 1999.
  • The Globalization Process of Latin American Economies and Firms: Empirical Evidence from Argentina. Presented at the Conference: Perspectives on Integration: Mercosur and NAFTA. University of New Mexico, November 1998.
  • Patterns and Determinants of Foreign Direct Investment in Emerging Economies. Research Seminar, School of Business Economics, Universidad Torcuato Di Tella.
  • Tácticas de Reconversión Empresaria. Working Paper, School of Business Economics, Universidad Torcuato Di Tella.
  • Estrategias en Entornos Turbulentos: ¿Planeamiento Normativo o Juego Político? Primer Congreso Nacional de Energía Eléctrica y Políticas Empresarias, Buenos Aires, Mayo de 1984. UTDT, Revisión Marzo 1998.
  • Applying Ecological Models to the Business Policy Field. Katholieke Universiteit Leuven, 1983.
  • Practicing OD in Latin Countries. Katholieke Universiteit Leuven, 1983.

Books

  • Valuation of Companies in Emerging Markets: A Practical Approach, NY:John Wiley & Sons, Wiley Finance Series, August 2002.

Book Chapters

  • Angel Investing in Argentina: An Overview, in: Rodriguez, P., O’Halloran, E., Vergara, F. and A. Botelho (eds.), State of the Art: An Executive Briefing on Angel Investing in Latin America, Batten Institute, The Darden School, October 2005.