Elisa Ughetto

Elisa Ughetto

Elisa Ughetto is Associate Professor at Politecnico di Torino, Department of Management and Production Engineering (DIGEP) and Research Associate at the Bureau of Research in Innovation Complexity and Knowledge (BRICK), Collegio Carlo Alberto and at the Entrepreneurship and Innovation Center (EIC), Politecnico
di Torino
. Elisa teaches Accounting and Corporate Finance and Corporate governance and finance at undergraduate level. She has a Ph.D. in Economics and Management of Technology from the University of Bergamo.

She is serves as Associate Editor for the Journal of Small Business Management and the International Journal of Innovation and Technology Management,and she is a member of the Editorial Review Board of Small Business Economics: an Entrepreneurship Journal. She has been visiting scholar at the Washington University in Saint Louis (US) and at the European Investment Fund (LU). She has been visiting professor at the University of Augsburg (DE) and at Iaelyon School of Management, Université de Lyon Jean Moulin.

Her research activity has concerned four major research areas, spanning topics that include corporate and entrepreneurial finance, internationalization of start-ups, public policy, economics of innovation, and intellectual property rights management. She has studied these topics making use of a wide range of empirical methodologies.

Selected publications

  • CAVIGGIOLI, F., SCELLATO, G., UGHETTO, E., (2019), “Lenders’ selection capabilities, patent quality and the outcome of patent backed loans”, Forthcoming Industrial and Corporate Change, Oxford University Press
  • ABRARDI, L., CROCE, A., UGHETTO, E., (2019), “The dynamics of switching between governmental and independent venture capitalists: theory and evidence”, Small Business Economics,53(1), 165-188, Springer, 10.1007/S11187-018-0047-Z
  • CROCE, A., UGHETTO, E., (2019), “The role of venture quality and investor reputation in the switching phenomenon to different types of venture capitalists”, Journal of Industrial and Business Economics, 46(2), 191-227, Springer, 10.1007/S40812-019-00112-2
  • UGHETTO, E., COWLING, M., LEE, N., (2019), “Regional and spatial issues in the financing of small and medium size enterprises and new ventures”, Regional Studies, 53(5), 617-619, Taylor & Francis, 10.1080/00343404.2019.1601174
  • CAVIGGIOLI, F., UGHETTO, E., (2019), “A bibliometric analysis of the research dealing with the impact of Additive Manufacturing on industry, business and society”, International Journal of Production Economics, 208, 254-268, Elsevier, 10.1016/J.IJPE.2018.11.022
  • COLOMBELLI, A., PAOLUCCI, E., UGHETTO, E., (2019), “Hierarchical and relational governance and the life cycle of entrepreneurial ecosystems”, Small Business Economics, 52(2), 505-521, Springer, 10.1007/S11187-017-9957-4
  • COWLING, M., UGHETTO, E., LEE, N., (2018), “The innovation debt penalty: cost of debt, loan default, and the effects of a public loan guarantee on high-tech firms”, Technological Forecasting & Social Change, 127, 166-176, Elsevier, 10.1016/J.TECHFORE.2017.06.016
  • CROCE, A., GUERINI, M., UGHETTO, E., (2018), “Angel financing and the performance of high-tech start-ups: an exploratory study”, Journal of Small Business Management, 56(2), 208-228, Wiley, 10.1111/JSBM.12250
  • TENCA, F., CROCE, A., UGHETTO, E., (2018), “Business angels research in entrepreneurial finance: a literature review and a research agenda”, Journal of Economic Surveys, 32(5), 1384-1413, Wiley, 10.1111/JOES.12224
  • CAVIGGIOLI, F., DE MARCO, A., SCELLATO, G., UGHETTO, E., (2017), “Corporate strategies for technology acquisition: evidence from patent transactions”, Management Decision, 55(6), 1163-1181, Emerald Publishing, 10.1108/MD-04-2016-0220
  • CROCE, A., TENCA, F., UGHETTO, E., (2017), “How business angel groups work: rejection criteria in investment evaluation”, International Small Business Journal, 35(4), 405-426, Sage Publications, 10.1177/0266242615622675
  • DE MARCO, A., SCELLATO, G., UGHETTO, E., CAVIGGIOLI, F., (2017), “Global markets for technology: evidence from patent transactions”, Research Policy, 46(9), 1644-1654, Elsevier, 10.1016/J.RESPOL.2017.07.015
  • UGHETTO, E., SCELLATO, G., COWLING, M., (2017), “Cost of capital and public loan guarantees to small firms”, Small Business Economics, 49(2), 319-337, Springer, 10.1007/S11187-017-9845-Y
  • BUZZACCHI, L., SCELLATO, G., UGHETTO, E., (2016), “Medical malpractice claims in Italy: scale and scope effects”, Social Science & Medicine, 170, 152-160, Elsevier, 10.1016/J.SOCSCIMED.2016.10.021
  • CAVIGGIOLI, F., UGHETTO, E., (2016), “Buyers in the patent auction market: opening the black box of patent acquisitions by Non-Practicing Entities”, Technological Forecasting & Social Change, 104(C), 122-132, Elsevier, 10.1016/J.TECHFORE.2015.11.031
  • UGHETTO, E., (2016), “Growth of born globals: the role of the entrepreneur’s personal factors and venture capital”, International Entrepreneurship and Management Journal, 12(3), 839-857, Springer, 10.1007/S11365-015-0368-1
  • UGHETTO, E., (2016), “Investments, financing constraints and buyouts: the effect of private equity investors on the sensitivity of investments to cash flow”, The Manchester School, 84(1), 25-54, Wiley, 10.1111/MANC.12085
  • BUZZACCHI, L., SCELLATO, G., UGHETTO, E., (2015), “Investment stage drifts and venture capital managerial incentives”, Journal of Corporate Finance, 33(C), 118-128, Elsevier, 10.1016/J.JCORPFIN.2015.05.006
  • CANNONE, G., UGHETTO, E., (2015), “Internationalization flows of high-tech start-ups: a gravity model”, European Business Review, 27(1), 60-79, Emerald Publishing, 10.1108/EBR-03-2014-0020
  • CROCE, A., D’ADDA, D., UGHETTO, E., (2015), “Venture capital financing and the financial distress risk of portfolio firms: how independent and bank-affiliated investors differ”, Small Business Economics: an Entrepreneurship Journal, 44(1), 189-206, Springer, 10.1007/S11187-014-9582-4
  • CANNONE, G., UGHETTO, E., (2014), “Born globals: a cross-country survey on high-tech start-ups”, International Business Review, 23(1), 272-283, Elsevier, 10.1016/J.IBUSREV.2013.05.003
  • CANNONE, G., UGHETTO, E., (2014), “Funding innovation at regional level: an analysis of a public policy intervention in the Piedmont region”, Regional Studies, 48(2), 270-283, Taylor & Francis, 10.1080/00343404.2011.653338
  • CAVIGGIOLI, F., SCELLATO, G., UGHETTO, E., (2014), “International patent disputes: evidence from oppositions at the European Patent Office”, Research Policy, 42(9), 1634-1646, Elsevier, 10.1016/J.RESPOL.2013.06.004
  • CAVIGGIOLI, F., UGHETTO, E., (2014), “The drivers to patent transactions: corporate views on the market for patents”, R&D Management, 43(4), 318-332, Wiley, 10.1111/RADM.12016
  • ODASSO, C., SCELLATO, G., UGHETTO, E., (2014), “Selling patents at auction: an empirical analysis of patent value”, Industrial and Corporate Change, 24(2), 417-438, Oxford University Press, 10.1093/ICC/DTU015
  • SCELLATO, G., UGHETTO, E., (2014), “Real effects of private equity investments: evidence from European buyouts”, Journal of Business Research, 66(12), 2642-2649, Elsevier, 10.1016/J.JBUSRES.2012.06.001
  • BUZZACCHI, L., SCELLATO, G., UGHETTO, E., (2013), “The investment strategies of publicly sponsored venture capital funds”, Journal of Banking and Finance, 37(3), 707-716, Elsevier, 10.1016/J.JBANKFIN.2012.10.018
  • ODASSO, C., UGHETTO, E., (2011), “Patent backed securities in pharmaceuticals: what determines success or failure?”, R&D Management, 41(3), 219-239, Wiley, 10.1111/J.1467-9310.2011.00646.X
  • UGHETTO, E., VEZZULLI, A., (2011), “What role can mutual guarantee consortia play for financing innovation? A firm-level study for Italy”, International Journal of Banking, Accounting and Finance, 3(4), 294-319, Inderscience Publishers, 10.1504/IJBAAF.2011.043704
  • SCELLATO, G., UGHETTO, E., (2010), “The Basel II reform and the provision of finance for R&D activities in SMEs: an analysis for a sample of Italian companies”, International Small Business Journal, 28(1), 65-89, Sage Publications, 10.1177/0266242609350825
  • UGHETTO, E., (2010), “Assessing the contribution to innovation of private equity investors: a study on European buyouts”, Research Policy, 39(1), 126-140, Elsevier, 10.1016/J.RESPOL.2009.11.009
  • UGHETTO, E., (2009), “Industrial districts and financial constraints to innovation”, International Review of Applied Economics, 23(5), 597-624, Taylor & Francis, 10.1080/02692170903007599
  • UGHETTO, E., (2008), “Does finance matters for R&D investment? New evidence from a panel of Italian firms”, Cambridge Journal of Economics, 32(6), 907-925, Oxford University Press, 10.1093/CJE/BEN015
  • UGHETTO, E., (2007), “Foresight as a triple helix of industry, university and government relations”, Foresight, 9(25), 14-22, Emerald Publishing, 10.1108/14636680710821061

Working papers

  • BATTAGLIA, D., PAOLUCCI, E., UGHETTO, E., (2019), “The role of Proof-of-Concept programs in mitigating the effect of inhibitors on commercialization of research-based inventions”
  • CROCE, A., SCHWIENBACHER, A., UGHETTO, E., (2019), “How do European business angels differ from US business angels?”
  • SANSONE, G., UGHETTO, E., LANDONI, P., (2018), “Student-led entrepreneurial organizations: enrolment and impact on entrepreneurial intentions”
  • FEITO-RUIZ, I., CARDONE-RIPORTELLA, C., UGHETTO E., (2018), “AIM Firms’ Debt Maturity: Do Auditor’s Quality and Ownership Structure Matter?”
  • CAVIGGIOLI, F., DE MARCO, A., MONTOBBIO, F., UGHETTO, E., (2018), “On and off the shelf: licensing and selling inventions in US universities”
  • BUTTICE’, V., CROCE, A., UGHETTO, E., (2018), “Network dynamics in business angels groups’ investment decisions”
  • OGGERO, N., ROSSI M.C, UGHETTO, E., (2018), “Entrepreneurial Spirits in Women and Men. The role of digital skills and financial literacy”
  • CROCE, A., UGHETTO, E., COWLING, M., (2018), “Investment motivations and UK business angels’ appetite for risk taking: the moderating role of experience”
  • COWLING, M., LEE, N., UGHETTO, E, (2017), “The price of a disadvantaged location: Regional variation in the supply and price of short-term credit in the UK”


Entrepreneurship and Innovation Center (EIC)
Department of Management and Production Engineering (DIGEP)
Politecnico di Torino

C.so Duca degli Abruzzi, 24
10129 Torino (TO)