Flavio De Carolis
Short bio
Flavio De Carolis is currently a postdoctoral researcher at the Geneva Finance Research Institute, a Research fellow at the Statistics Division of De Nederlandsche Bank and a Research fellow at Nuvolos. He holds a PhD in Finance from Maastricht University and before his PhD he worked as a Financial Risk Analyst at the ECB.
Research interests
- Climate Finance
- International Asset Pricing
- Corporate resilience
Education
Ph.D. in Finance, Maastricht University
M.Sc. in Economics and Finance, University of Tübingen
B.Sc. in Economics and Business Administration, University of Tübingen
Work in progress
- Information frictions and Trading Responses to U.S. Hurricanes: Evidence from European Institutional Investors, with Banca d’Italia
Working papers
Bauer, Rob and Broeders, Dirk and De Carolis, Flavio, Local Institutional Ownership and Price Discovery Around Extreme Weather Events (July, 2025). ECB Working Paper No. 2025/3069. Link
De Carolis, F., & Peters, V. (2025). European SMEs, Corporate Finance and Economic Resilience to Floods. Corporate Finance and Economic Resilience to Floods (March 25, 2025). De Nederlandsche Bank Working Paper, (832). Link
Other publications
De Carolis, F., (2025). Let’s get physical: How floods and storms affect asset prices and capital structures. [Doctoral Thesis, Maastricht University]. Link
De Carolis, F., Rang, K., Nijhuis, M. (2025), Mapping Physical Climate Risk Exposure in Euro Area firms: Linking E-PRTR and RIAD with a Fuzzy Match, (August, 2025) DNB Analysis series. Link
Statistics Committee Expert Group on Climate Change and Statistics and Working Group on Securities Statistics, Climate change-related statistical indicators, (April 2024) Statistics Paper Series. Link
Last update: January 2026.