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Prof. João Pinto
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Academic Career Length
13Years (2014-Present)
(Calculated once Scilit publication data is synced: current year − year of first publication + 1)
Representative Publications
View All Publications1 June 2020 in Journal of Corporate Finance
Journal Article
MMManuel O. Marques
Manuel O. Marques
JPJoão Pinto
João Pinto5 December 2019 in The European Journal of Finance
Journal Article
JPJoão Pinto
João Pinto
Mário Coutinho dos SantosWe examine the factors that influence nonfinancial firms’ choice of issuing standard corporate bonds vis-à-vis contracting structured finance, in the form of project finance or asset securitization arrangements. Using a data set of deals closed by 4,700 European borrowers between 2000 and 2016, we find that informational frictions and issuance costs affect public firms’ borrowing source choices. Findings suggest that borrowers choose structured finance when they are relatively smaller, less profitable, have lower asset tangibility, and seek long-term financing. Our findings also document that borrowers resorting to asset securitization tend to have larger growth opportunity sets. Borrowers resorting to project finance are less creditworthy than corporate bond issuers and, on average, asset securitization deals have an 87.6 basis points borrowing cost advantage over corporate bond deals for switchers.
4 March 2016 in Investment Management and Financial Innovations
Journal Article
JPJoão Pinto
João PintoPAPaulo Alves
Paulo AlvesThis paper surveys the literature examining securitization. Besides describing the economic motivation for the use of securitization, the paper provides details on securitization characteristics and players, presents the recent trends of securitization markets, describes the role played by securitization in the 2007-2008 financial crisis, and compares the financial characteristics of securitization transactions for a large cross-section of ABS, MBS and CDO tranches issued during the 2000-2011 period. Securitization creates value by increasing liquidity, reducing the cost of funding, allowing originators to diversify funding sources, improving originators’ risk management, and allowing originators to benefit from regulatory arbitrage and to improve key financial ratios. However, securitization transactions are complex undertakings, they are expensive to set up, and increase the deadweight transaction costs associated with principal-agent and asymmetric information problems when used inappropriately
1 January 2021 in Finance Research Letters
Journal Article
JPJoão Pinto
João PintoCSCátia S. Silva
Cátia S. Silva
8 May 2017 in Investment Management and Financial Innovations
Journal Article
JPJoão Pinto
João PintoProject finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market imperfections. However, project finance transactions are complex undertakings, they have higher costs of borrowing when compared to conventional financing and the negotiation of the financing and operating agreements is time-consuming. In addition to describing the economic motivation for the use of project finance, this paper provides details on project finance characteristics and players, presents the recent trends of the project finance market and provides some statistics in relation to project finance lending activity between 2000 and 2014. Statistical analysis shows that project finance loans arranged for U.S. borrowers have higher credit spreads and upfront fees, and have higher loan size to deal size ratios when compared with loans arranged for borrowers located in W.E. On the contrary, loans closed in the U.S. have a much shorter average maturity and are much less likely to be subject to currency risk and to be closed as term loans.
18 June 2022 in European Financial Management
Journal Article
MCMafalda C. Correia
Mafalda C. Correia
JPJoão Pinto
João PintoAbout Me
João Pinto is an expert in finance and management with a distinguished academic and professional background. He holds a PhD in Business and Management Studies, specializing in Finance, from the Faculty of Economics at the University of Porto. He further enhanced his credentials with a Certificate of Management Excellence (2018-2021) from Harvard Business School. As a visiting scholar at the Michael F. Price College of Business, University of Oklahoma, João contributed significant research in financial innovation and sustainable finance.
Since March 2017, João has been a member of the Executive Committee at Catholic University of Portugal – Porto, and in December 2023, he was appointed Dean of Católica Porto Business School, where he has been a Professor of Finance since 2008. As co-leader of INSURE.Hub (Innovation in Sustainability and Regeneration Hub), João has been promoting interdisciplinary innovation in sustainability and regeneration since 2020.
In addition to his academic role, João has been a consultant in due diligence, corporate restructuring, and project valuation for the European Investment Bank and the European Bank for Reconstruction and Development since 2014. He has also co-authored numerous refereed articles published in prestigious academic journals such as the Journal of Corporate Finance, Journal of Financial Stability, Journal of Financial Services Research, European Financial Management, European Journal of Finance, and Finance Research Letters.