Vitae

Santiago Carbo-Valverde

                                                             Curriculum Vitae

 Personal and contact info:

– Born in Gandía (Valencia, Spain) on July 25th 1966.

– E-mail: s.carbo-valverde@bangor.ac.uk

Current affiliation:

– Professor of Economics – University of Granada (Spain)

Education:

1993 – Ph. D. in Economics, University of Wales, Bangor (UK)

1990 – MA in Banking and Finance, University of Wales, Bangor (UK)

1989 – B.A. in Economics, Universidad de Valencia (Spain)

Selected current and previous affiliations/positions –Higher education and Institutional Matters

– (2016-2020) Member of the International Committee of the Chartered Association of Business Schools (CABS).

– (2014-2020) Coordinator of the Banking program at the Bangor College in Changsha (China)

– (2016-2020) Impact champion coordinator for the Research Excellence Framework (REF 2020) – Bangor Business School (UK)

– (2015-2020) Vice-president and President Elect of International Banking, Economics and Finance Association (IBEFA).

– (2013-2020) Member of the Ethics committee, Bangor University

– (1996-2000) Coordinator of several Erasmus and international programs both at the University of Granada and Bangor University.

– (2014-2016) Member of the Group of Economic Advisers (GEA) of ESMA (European Securities and Markets Authority).

– (2000-2010) Advisor on several projects, inter alia, for the European.

– (2009, 2011-2013): Consultant, European Central Bank

– (2008-2012): Consultant, Federal Reserve Bank of Chicago (full-time during 2008 and part-time during 2009-2012).

– (2009-2011) National coordinator for R+D projects in Economics. Ministry for Science and Innovation, Spain.

– (2006-2008): Dean School of Economics and Business, University of Granada (Spain).

– (2006-2008): Member of the University Board, University of Granada (Spain).

– (2004-2006): Head of the Department of Economics, University of Granada (Spain).

– (2013-2020) Professor of Economics, CUNEF Business School (Spain)

– (1995-2012) Associate Professor of Economics, University of Granada (Spain)

– (1991-1995) Lecturer of Economics, University of Granada (Spain)

 

Selected journal articles

Carbo-Valverde, S., Rodríguez Fernández, F. and A. Saunders (2022), «Underwriting bank bonds: information sharing, certification and distribution networks», Journal of Corporate Finance, vol 70, 102057, DOI: https://doi.org/10.1016/j.jcorpfin.2021.102057

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2021), «The Effects of Negative Interest Rates: A Literature Review and Additional Evidence on the Performance of the European Banking Sector», The European Journal of Finance, vol. 27, forthcoming.

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2021), «The impact of lending relationships on the choice and structure of bond underwriting syndicates», Journal of International Financial Markets, Institutions and Money, DOI: https://doi.org/10.1016/j.intfin.2021.101403, vol. 74, 101403.

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2021), «Non-pricing drivers of underwriters’ market shares in corporate bond markets», International Review of Economics and Finance, vol. 76, 671-693.

Iwanicz-Drozdowska, M., Witkowski, B. and Santiago Carbo-Valverde (2020), «“When in Rome, do as Romans”. Similarities of banks performance drivers in CESEE», Bank i Kredyt, vol. 51(5), págs. 467-504. (2^nd Award of the Competition for the NBP President Award for the best article published in the «Bank i Kredyt», PLN 10.000)

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2020), «Do bank bailouts have an impact on the underwriting business?» Journal of Financial Stability, vol. 49, 100756, https://doi.org/10.1016/j.jfs.2020.100756.

Carbo-Valverde, S., Cuadro Solas. P.J. and F. Rodríguez Fernández (2020), «The effect of banks’ IT investments on the digitalization of their customers», Global Policy, Vol 11, Special Issue, Supplement 1, January 2020, 9-17.

Carbo-Valverde, S. and F. Rodríguez Fernández (2020),»Financial Digitalization: Banks, Fintech, Bigtech and Consumers»,    Journal of Financial Management, Markets and Institutions, vol 8, n 1, 2040001-1 – 2040001-13.

Carbo-Valverde, S., Lacomba  Arias, J. A., Lagos García, F., Rodríguez Fernández, F. and J. Verdejo-Román (2020), «Brain Sustrates explain differences in the adoption and degree of financial digitalization», Nature-Scientific Reports, vol. 10,17512(2020), https://doi.org/10.1038/s41598-020-74554-3.

Carbo-Valverde, S., Cuadros Solas, P. and F. Rodriguez Fernandez (2020), «A machine learning approach to the digitalization of bank customers: evidence from random and causal forests», PLoS ONE 15(10):e0240362. https://doi.org/10.1371/journal.pone.0240362

Carbo-Valverde, S., Mayordomo S. and F. Rodríguez Fernández (2018), «Disentangling the effects of household financial constraints and risk profile on mortgage rates», Journal of Real Estate Finance and Economics, vol 56, nº1,  76-100.

Carbo-Valverde, S. and F. Rodríguez Fernández (2018),»Do banks game on dynamic provisioning?»,Journal of Financial Management, Markets and Institutions, vol. nº 1,  1850002-1 – 1850002-22.

Carbo-Valverde, S., Mansilla Fernández, J.M. and F. Rodríguez Fernández (2017), «Monetary policy, implicit interest rate, and relative net trade credit», Revista de Economía Aplicada, número 73, vol XXV, 21-54.

Carbo-Valverde, S., Cuadros Solas, P.J. and F. Rodríguez Fernández (2017), «Do banks and industrial companies have equal access to reputable underwriters in debt markets?», Journal of Corporate Finance, vol 45, 176-202.

Carbo-Valverde, S. (2017b), «The Impact on Digitalization on Banking and Financial Stability», Journal of Financial Management, Markets and Institutions, vol 5, nº 1,  133-140.

Carbo-Valverde, S., Rodríguez Fernández, F. and R. Rosen (2017), «Are Covered Bonds a Substitute for Mortgage-Backed Securities?», Journal of Economic Policy Reform, vol. 20, nº 3, 238-253.

Carbo-Valverde, S., F. Rodríguez Fernández and G. Udell, (2016), «Trade credit, the Financial Crisis and Firms Access to Finance», Journal of Money, Credit and Banking, vol.49, 113-143.

Carbo-Valverde, S., Chakravorti, B. and F. Rodríguez Fernández (2016), «The Role of Interchange Fees in Two-sided Markets: An Empirical Investigation on Payment Cards», Review of Economics and Statistics, vol. 98, 367-381.

Qi, M., Carbo-Valverde, S. and F. Rodriguez (2016), «The diffusion pattern of non-cash payments: evidence from China», International Journal of Technology Management, vol. 70, 44-57.

Carbo-Valverde, S., Degryse, H. and F. Rodríguez Fernández (2015), «The impact of securitization on credit rationing: empirical evidence», Journal of Financial Stability, vol. 20, 36-50.

Carbo-Valverde, S.and F. Rodríguez Fernández (2014), «ATM withdrawals, debit card transactions at the point of sale and the demand for currency», SERIEs, vol. 5, 399-417.

Carbo-Valverde, S. (2014), «Trust in banks after the financial crisis», Journal of Financial Perspectives, vol. 2 (issue 2), July 2014.

Carbo-Valverde, S., Kane, E. and F. Rodríguez Fernández,(2013), «Safety-net benefits conferred on difficult-to-fail-and-unwind banks in the US and EU before and during the great recession «, Journal of Banking and Finance, vol. 37, 1845-1859.

Carbo-Valverde, S., Kane, E. and F. Rodríguez Fernández, (2012), «Regulatory arbitrage in cross-border banking mergers within the EU», Journal of Money, Credit and Banking, vol. 44, 1609-1629.

Carbo-Valverde, S., Liñares Zegarra, J.M. and F. Rodríguez Fernández (2012), «Feedback Loop Effects in Payment Card Markets: Empirical Evidence «, Review of Network Economics, vol. 11, article 2.

Carbo-Valverde, S., Marqués Ibáñez, D. and F. Rodríguez Fernández, (2012), «Securitization, risk transferring and financial stability: the case of Spain» Journal of International Money and Finance, vol. 31, 80-101.

Carbo-Valverde, S. and J.M. Liñares Zegarra (2011), «How effective are rewards programs in promoting payment card usage? Empirical evidence», Journal of Banking and Finance, vol. 35, 3275-3291.

Carbo-Valverde, S. Hannan, T. and F. Rodríguez Fernández,(2011), «Exploiting Old Customers and Attracting New Ones: the case of Bank Deposit Pricing», European Economic Review, vol. 55, 903-915.

Carbo-Valverde, S. and R. López del Paso (2010), “Does the development of non-cash payments affect bank lending?”, The Manchester School, vol. 78, nº 5, 412-436.

Carbo-Valverde, S. and M.A. Fortes Escalona (2010), «Spatial Cournot equilibrium: do branches matter?», Annals of Regional Science, vol 44, 377-407.

Carbo-Valverde, S., Rodríguez Fernández, F. and G. Udell (2009), «Bank market power and SME financing constraints», Review of Finance, vol. 13, 309-340.

Carbo-Valverde, S., Humphrey D., Maudos J. and P. Molyneux (2009), «Cross-Country Comparisons of Competition and Pricing Power in European Banking», Journal of International Money and Finance, vol. 28, 115-134.

Carbo-Valverde, S., Kane, E., and F. Rodriguez (2008), «Evidence of Differences in the Effectiveness of Safety Net Management in European Union Countries», Journal of Financial Services Research, vol. 34, 151-176.

Scholnick, B., Massoud, N., Saunders, A., Carbo-Valverde, S. and F. Rodriguez-Fernandez (2008), «The Economics of Credit Cards, Debit Cards and ATMs: A Survey and Some New Evidence», Journal of Banking and Finance, vol 32, 1468-1483.

Carbo-Valverde, S. (2007), «Implications of Basel II for different bank ownership patterns in Europe», Atlantic Economic Journal, vol. 35(4), 391-397.

Carbo-Valverde, S., Humphrey, D. and R. López del Paso (2007)»Opening the Black Box: Finding the Source of Cost Inefficiency», Journal of Productivity Analysis, vol. 27(3), June, 209-220.

Carbo-Valverde, S., Humphrey, D. and R. López del Paso (2007), «Do Cross-Country Differences in Bank Efficiency Support a Policy of «National Champions»?», Journal of Banking and Finance, vol 31, 2173-2188.

Carbo-Valverde, S. and F. Rodríguez Fernández (2007), «The determinants of bank margins in European banking», Journal of Banking and Finance, vol 31, 2043-2063.

Carbo-Valverde, S., López del Paso, R. and F. Rodríguez Fernández (2007), «Financial innovations in banking: impact on regional growth», Regional Studies, vol. 41 (3), 311-326.

Altunbas, Y., Carbo, S., Gardener E.P.M. and P. Molyneux, (2007), «Examining the Relationships between Capital, Risk and Efficiency in European Banking», European Financial Management, vol. 13, nº1, 49-70.

Carbo-Valverde, S., Gardener E. and P. Molyneux (2007), «Financial Exclusion in Europe», Public Money and Management, Vol. 27, No. 1, February 2007, 21-27.

Carbo-Valverde, S. and F. Rodríguez Fernández (2005), «New Evidence of Scope Economies among Lending, Deposit-taking, Loan Commitments and Mutual Fund Activities», Journal of Economics and Business, vol. 57, 187-207.

Berenguer, M.I., Carbo, S. and M.A. Fortés (2005), «Cournot Competition in a Two-Dimensional Circular City», The Manchester School, vol. 73, nº1 40-49.

Carbo-Valverde, S. and F. Rodríguez, (2004), «The Finance-Growth Nexus. A Regional Perspective», European Urban and Regional Studies, vol. 11, nº 4, 339-354.

Carbo-Valverde, S. and D. Humphrey (2004), «Predicted and Actual Costs from Individual Bank Mergers», Journal of Economics and Business, vol. 56, 137-157.

Carbo-Valverde, S., Humphrey, D. and F. Rodríguez Fernández (2003), «Bank Deregulation is Better than Mergers», Journal of International Financial Markets, Institutions and Money, vol. 13, nº 5, December, 429-449.

Carbo-Valverde, S., Gardener, E.P.M. and J. Williams, (2003), «A Note on Technical Change in Banking: The Case of European Savings Banks», Applied Economics, vol. 35 , nº 6, 705-719.

Carbo-Valverde Valverde, S., Humphrey, D. and F. Rodríguez Fernández (2002) «Deregulation, Bank Competition and Regional Growth», Regional Studies, vol. 37, nº 3, 227-237.

Carbo-Valverde, S. Gardener, E.P.M. and J. Williams (2002), «Efficiency in Banking: Empirical Evidence from the Savings Banks Sector», The Manchester School, vol. 70, nº 2, March 2002, 204-228.

Selected Books and book chapters:

Santiago Carbó, Cuadros Pedro J. and Francisco Rodriguez (2016a)(eds.), Bank Funding, Financial Instruments and Decision-Making in the Banking Industry, Palgrave McMillan, Basingstoke (UK).

Santiago Carbó, Cuadros, Pedro J. and Francisco Rodriguez (2016b), «The Reputable Underwriting Matching in Corporate Bond Issuances: Evidence for Non-financial Bonds», in Santiago Carbó, Cuadros Pedro J. and Francisco Rodriguez (2016c) (eds.), Bank Funding, Financial Instruments and Decision-Making in the Banking Industry, Palgrave McMillan, Basingstoke (UK), 95-115.

Santiago Carbó, Cuadros Pedro J. and Francisco Rodriguez (2016c)(eds.), Liquidity Risk, Efficiency and New Banking Business Models, Palgrave McMillan, Basingstoke (UK).

Santiago Carbo-Valverde and Francisco Rodriguez Fernandez,(2015), «Financial Regulation in Spain», in R.  Kattel, J. Kregel y M. Tonveronachi (ed.), Financial Regulation in the European Union, Routledge, Abingdon (UK), Ch. 5, 109-132.

Santiago Carbo-Valverde and Luis Pedauga (2013), «Financial Stability and Economic Growth», in Juan Fernandez de Guevara and José Manuel Pastor (eds.), Crisis, Risk and Stability in Financial Markets, Palgrave McMillan, Basingstoke (UK), Ch. 1, 8-23.

Santiago Carbo-Valverde, David Humphrey and Francisco Rodriguez-Fernández,(2011), «A Revenue-Based Frontier Measure of Banking competition», en Philip Molyneux (ed.), Bank Performance, Risk and Firm Financing, Palgrave McMillan, Basingstoke (UK), Ch. 6, 135-153.

Santiago Carbo-Valverde (2010),»Financial Crisis and Regulation: the Case of Spain», in Robert R. Bliss and George G. Kaufman, (eds.) Financial Institutions and Markets. The Financial Crisis: An Early Perspective, Palgrave Macmillan, New York, US. Ch. 5, 127-145.

Santiago Carbo-Valverde and David B. Humphrey (2009), «Technological innovation in banking: the shift to ATMs and implicit pricing of network convenience», in Luisa Anderloni, David T. Llewellyn, Reinhard H. Schmidt, (eds.) Financial Innovation in Retail and Corporate Banking, Edward Elgar, Cheltenham, UK. Chp. 4, 59-110. ISBN: 978-1-84844-040-1.

Santiago Carbo and Francisco Rodríguez (2006), «Pricing strategies in European banking: specialization, technology and intertemporal smoothing», en Balling, M., Lierman, F. y A. Mullineaux (eds.), Competition and Profitability in European Financial Services. Strategic, systemic and policy issues, Routledge, Taylor and Francis Group, Abingdon, Oxon, UK, Chapter 9.

Santiago Carbo, David Humphrey and Rafael López (2006), «Electronic payments and ATMs: changing technology and cost efficiency in banking», en Balling, M., Lierman, F. y A. Mullineaux (eds.), Competition and Profitability in European Financial Services. Strategic, systemic and policy issues, Routledge, Taylor and Francis Group, Abingdon, Oxon, UK, Chapter 8.

Santiago Carbo, Edward P.M. Gardener and Philip Molyneux, (2005), Financial Exclusion, Palgrave-MacMillan, Basingstoke (UK).

 

Main Teaching experience

Undergraduate:

Financial System: Institutions and Markets

Industrial Organization

Microeconomics

International Economics and Finance

Postgraduate:

Banking

Financial intermediation theory

Economics of Banking

Bank Management

Selected editorial activities and committee membership

– Editor in Chief The Journal of Financial Management, Markets and Institutions (JFMI)

– Vice-president of International Banking, Economics and Finance Association (IBEFA). President from January 2017.

– Member of the editorial board of “Financial Stability Review- Bank of Spain”.

– Associate Editor of the “Journal of Financial Stability”.

– Editor of the “Spanish Review of Financial Economics”.

– Member of the European Shadow Financial Regulatory Committee

Social networks

Twitter: @scarboval +5,600 followers

Facebook: https://es-es.facebook.com/santiago.carbovalverde

Linkedin: https://es.linkedin.com/in/santiago-carbó-valverde-82075025

Media contributions

Opinions and references appeared:

– Financial Times

– The New York Times

– International Herald Tribune

– Business Week

– The Guardian

– Miami Herald

– Handelsblatt

– Asahi Shimbun

– BBC World and BBC

– National Public Radio-US

Columnist in El Pais and more occasionally in Cinco Dias.

Wikipedia contributor