Portrait of Professor Vasso Ioannidou

Professor Vasso Ioannidou

Professor of Finance

Bayes Business School , Finance

Contact

About

Overview

Vasso Ioannidou is Professor of Finance at Bayes Business School. Her research focuses on banking, corporate finance, and monetary economics. Her recent work examines bank runs, central bank independence, monetary policy and credit allocation, deposit insurance, insolvency law, and cybersecurity. Her research has been published in leading academic journals, including the Journal of Finance and the Journal of Financial Economics. 

Professor Ioannidou has received several awards and distinctions in recognition of her scholarly contributions, including the Two Sigma Best Paper Award at the WFA, as well as research grants from the Leverhulme Trust and the European Commission (Marie Curie).

Professor Ioannidou currently serves as a Member of the Advisory Scientific Committee of the European Systemic Risk Board (ESRB) and as a Director of the Executive Committee of the European Economic Association. She is also an Associate Editor of the European Economic Review, the Journal of Banking and Finance, the Journal of Financial Services Research, and the Journal of Financial Stability. In addition, she is a Research Fellow in Financial Economics at the Centre for Economic Policy Research (CEPR). 

Before joining Bayes in 2021, Professor Ioannidou held professorial positions at Lancaster University Management School (2013–2020) and Tilburg University (2010–2013). She holds a Master’s degree and a PhD in Economics from Boston College.

Qualifications

  • Phd, Boston College, United States, August 1996 - July 2001

Employment

  • Professor, Lancaster University, United Kingdom, August 2013 - December 2021
  • Professor, Tilburg University, Netherlands, September 2010 - July 2013
  • Associate Professor, Tilburg University, Netherlands, September 2008 - September 2010
  • Assistant Professor, Tilburg University, Netherlands, November 2004 - August 2008
  • Assistant Professor, Tilburg University, Netherlands, January 2002 - October 2004

Visiting appointments

  • Visiting Research Professor, LawFin Center, Goethe University,, May - September 2026

Fellowships

  • Research Fellow, LawFin Center, Goethe University, September 2025 - present
  • Research Fellow in Financial Economics, Center for Economic Policy Research (CEPR), January 2015 - present
  • Research Fellow, Financial Economics, Center of Economic Policy Research, January 2015 - present

Award

  • Western Finance Association (2023). Two Sigma Best Paper Award
    Best paper award for "Corporate Pension Risk-Taking in a Low Interest Rate Environment", joint work with Roberto Pinto and Jesse Wang.

Expertise

Primary topics

  • Banking
  • Corporate Finance
  • Monetary Economics

Additional topics

  • Econometrics

Research students

1stsupervisor

Publications

Book

  1. Ioannidou, V., Liberti, J.M., Mosk, T. and Sturgess, J. (2018). Intended and Unintended Consequences of Government Credit Guarantee Programmes. Oxford University Press.

Journal articles (16)

  1. Carletti, E., De Marco, F., Ioannidou, V. and Sette, E. (2026). Corporate Runs and Credit Reallocation. Journal of Finance
  2. Ioannidou, V., Pinto, R. and Wang, Z. (2026). Corporate Pension Risk-Taking in a Low Interest Rate Environment. Management science
  3. Fu, J., Ioannidou, V. and Mishra, M. (2026). Banking on Competition: The Spillover Effects of Bank Entry into Microfinance. Journal of Financial and Quantitative Analysis, 61(3), pp. 1429-1458. doi:10.1017/s0022109025101865

    [publisher’s website]

  4. GONCHAROV, I., IOANNIDOU, V. and SCHMALZ, M.C. (2023). (Why) Do Central Banks Care about Their Profits? The Journal of Finance, 78(5), pp. 2991-3045. doi:10.1111/jofi.13257

    [publisher’s website]

  5. Ioannidou, V., Pavanini, N. and Peng, Y. (2022). Collateral and asymmetric information in lending markets. Journal of Financial Economics, 144(1), pp. 93-121. doi:10.1016/j.jfineco.2021.12.010

    [publisher’s website]

  6. Carletti, E., De Marco, F., Ioannidou, V. and Sette, E. (2020). Banks as patient lenders: Evidence from a tax reform. Journal of Financial Economics. doi:10.1016/j.jfineco.2020.07.021

    [publisher’s website]

  7. Degryse, H., Ioannidou, V., Liberti, J.M. and Sturgess, J. (2020). How Do Laws and Institutions Affect Recovery Rates for Collateral? The Review of Corporate Finance Studies, 9(1), pp. 1-43. doi:10.1093/rcfs/cfz011

    [publisher’s website]

  8. Beck, T., Ioannidou, V. and Schäfer, L. (2018). Foreigners vs. Natives: Bank Lending Technologies and Loan Pricing. Management Science, 64(8), pp. 3792-3820. doi:10.1287/mnsc.2016.2706

    [publisher’s website]

  9. Degryse, H., Ioannidou, V. and von Schedvin, E. (2016). On the Nonexclusivity of Loan Contracts: An Empirical Investigation. Management Science, 62(12), pp. 3510-3533. doi:10.1287/mnsc.2015.2277

    [publisher’s website]

  10. Berger, A.N., Frame, W.S. and Ioannidou, V. (2016). Reexamining the empirical relation between loan risk and collateral: The roles of collateral liquidity and types. Journal of Financial Intermediation, 26, pp. 28-46. doi:10.1016/j.jfi.2015.11.002

    [publisher’s website]

  11. Ioannidou, V., Ongena, S. and Peydró, J.-.L. (2015). Monetary Policy, Risk-Taking, and Pricing: Evidence from a Quasi-Natural Experiment. Review of Finance, 19(1), pp. 95-144. doi:10.1093/rof/rfu035

    [publisher’s website]

  12. Berger, A.N., Scott Frame, W. and Ioannidou, V. (2011). Tests of ex ante versus ex post theories of collateral using private and public information. Journal of Financial Economics, 100(1), pp. 85-97. doi:10.1016/j.jfineco.2010.10.014

    [publisher’s website]

  13. IOANNIDOU, V. and ONGENA, S. (2010). “Time for a Change”: Loan Conditions and Bank Behavior when Firms Switch Banks. The Journal of Finance, 65(5), pp. 1847-1877. doi:10.1111/j.1540-6261.2010.01596.x

    [publisher’s website]

  14. Ioannidou, V.P. and Penas, M.F. (2010). Deposit insurance and bank risk-taking: Evidence from internal loan ratings. Journal of Financial Intermediation, 19(1), pp. 95-115. doi:10.1016/j.jfi.2009.01.002

    [publisher’s website]

  15. Goderis, B. and Ioannidou, V.P. (2008). Do high interest rates defend currencies during speculative attacks? New evidence. Journal of International Economics, 74(1), pp. 158-169. doi:10.1016/j.jinteco.2007.05.003

    [publisher’s website]

  16. Ioannidou, V.P. (2005). Does monetary policy affect the central bank's role in bank supervision? Journal of Financial Intermediation, 14(1), pp. 58-85. doi:10.1016/j.jfi.2004.04.002

    [publisher’s website]

Working papers (2)

  1. Carletti, E., De Marco, F., Ioannidou, V. and Sette, E. Banks As Patient Lenders: Evidence from a Tax Reform. Elsevier BV.
  2. Ioannidou, V., Pinto, R. and Wang, Z. Corporate Pension Risk-Taking in a Low Interest Rate Environment. Elsevier BV.

Professional activities

Consultancy (2)

  1. European Central Bank (Public Sector) (October 2023 - July 2026)
    Academic Consultant, ChaMP Research Network
  2. Financial Stability Board (Public Sector) (May 2019 - present)
    Academic advisor for FSB Evaluation of the effects of "Too-big-to-fail" reforms.

Editorial activity (4)

  1. Journal of Financial Services Research, Associate Editor, March 2026 - present.
  2. European Economic Review, Associate Editor, September 2024 - present.
  3. Journal of Financial Stability, Associate Editor, January 2024 - present.
  4. Associate Editor, Journal of Banking and Finance, February 2019 - present.

Media appearances (4)

  1. 'Losses by central banks are nothing to fear', Free Exchange, The Economist. https://www.economist.com/finance-and-economics/2020/05/07/losses-by-central-banks-are-nothing-to-fear
  2. Opinion, "Trump’s deregulation agenda threatens global financial stability", POLITICO. https://www.politico.eu/article/donald-trump-stability-global-finances-silicon-valley-bank/
  3. Research cited in "Is Trump destroying the dollar - and what does it mean for the euro?", Euronews. https://www.euronews.com/business/2025/05/06/is-trump-destroying-the-dollar-and-what-does-it-mean-for-the-euro
  4. Research cited in "What evidence tells us about the Fed’s independence and Trump", Financial Times. https://www.ft.com/content/7c2b87ba-ae72-4b89-bbe2-f9830264071f?accessToken=zwAGJzRG6cD4kc98K4e6rnJLidO74vmDAmQHHw.MEUCIQC6ZR2Myp9nq9qCiZjkNVG4XrGnbHWKueWIaUiven254gIgDAt_PaVJBbeald7ehpB7nst6D9M8bQFUjXjtBzxcf3g&sharetype=gift&token=779d1e4e-5e51-466c-8b92-de5dbcb68ff5

Other (2)

  1. Director, Executive Committee , European Finance Association (EFA) (January 2026 - present).
  2. Member of Advisory Scientific Committee (ASC) , European Systemic Risk Board (ESRB) (May 2023 - present).