Department of Economics, University of Molise

Via F. De Sanctis, 1 – 86100 Campobasso (CB)

Tel: +39 0874 404 337 | Mob: +39 333 8447284

Link to the Professor’s Profile



He is Full Professor in the scientific field “SECS-P/08 – Economics and Business Management” at the University of Molise, where he belongs to the Department of Economics. He holds the courses of “Start up and Business planning,” “Corporate Finance – advanced” and “New venture financing” as part of the Degree Program in “Management, Entrepreneurship and Innovation” and of “”Business management” and “Corporate finance” as part of the Bachelor’s Degree Program in Business Administration.

He is director of the Unimol Management center as well as promoter and responsible for the Molise Contamination Lab, a joint initiative between the University of Molise and Sviluppo Italia Molise S.p.A. He is one of the promoters of the Moliz project – Molise for Generation Z, which obtained funding of €9.3 million in March 2024.Formerly the Rector’s co-delegate for placement, internships and technology transfer (2019-2022), he is’ a member of the University’s patent commission.

As the University representative, he is a member of the Steering and Supervisory Board of CUEIM (University Consortium for Industrial and Managerial Economics). He is the scientific referent for the University of Molise of the Network for the Enhancement of Research (NETVAL) as well as the University referent of the Italian Contamination Lab Network.

He actively participates in the work of the Department of Economics as a member of the Committee for the Distribution of Research Resources and the UGQ Committee. He has participated as chairman in the work of the committees of the State Examinations for the qualification to practice as a certified public accountant, expert accountant and auditor.


The scientific research activity, carried out both at university research centers and on a personal basis, is developed within the following areas: a) value creation in the governance of industrial and financial enterprises; b) the management of investment and financing techniques of the enterprise with particular attention to the relationship between the bank and the enterprise, especially small and medium-sized enterprises (SMEs), also in the light of the introduction of the new models of credit evaluation (i.e. internal rating systems); c) the quality and innovation of services, especially of a financial and banking nature, for SMEs.

Scientific activity is also conducted within research projects. In this area, he has participated in interdisciplinary research on the relationship between the enterprise, the credit system and financial markets, and on the role of venture capital in the development of the small- to medium-sized enterprise. He has also studied the transformation of the entrepreneurial system through the transition of the family-owned business to widely held companies and examined the development of the bank-enterprise relationship.

He has participated in research work commissioned by professional banking associations to determine the success factors of regional banks and their ability to create value. Since 2002, he has participated in research projects on the financing of small and medium-sized enterprises (impact of Basel II, financing needs of enterprises, role of venture capital) and the architecture of creditworthiness assessment models.

He has been scientific and organizational coordinator as well as project manager of the research work promoted by the University Consortium of Industrial and Managerial Economics (CUEIM), of which he is a member of the Steering and Supervisory Board, on rating methodologies applied as part of the credit allocation process to small and medium-sized enterprises entitled “The rating between enterprise, bank and territory.”

He has served as an expert for the peer review of research products submitted for the VQR 2011-2014 and is a reviewer for national and international scientific journals. He is co-director of the Bank, Enterprise, Finance, Ethics Laboratory (Bifelab –, a research center between the University of Cassino and Lazio Meridionale with the contribution of Fondazione Roma. In this field, he is a promoter and co-signer of the international agreement between Bifelab and the Essex Finance Center (EFiC) of the University of Essex (UK) as well as head of the research project “Net Trade Credit and Firm Investments: A Relationship Lending Perspective.”

He is an ordinary member of AIDEA (Italian Association of Business Economists), SIM (Italian Marketing Society), SIMA (Italian Society of Management), BAM (British Academy management) and ADEIMF ((Italian Association of Financial Economists). For AIDEA he was recently a member of the research group that drafted the association’s first position paper entitled “Cooperative credit: business model, governance and sustainability.” Of SIMA, he is the headquarters contact person as well as a member of the thematic groups “Entrepreneurship” and “Innovation & Technology Management,” of which he is coordinator of the subgroup “Digital Innovation.”

Research activity has led to participation in numerous conferences, seminars and symposia and publication of essays and articles.


He holds teaching positions in the master’s degree program in “Management, Entrepreneurship and Innovation” and in the bachelor’s degree program in “Business Administration” at the Department of Economics (Campobasso campus). He conducts seminar activities at the Doctoral School and is a lecturer in Level I and II master’s degree programs and in university advanced courses.

He has been a visiting professor at the Department of Finance of the Koppelman School of Business at CUNY Brooklyn College in New York – USA.

He has been scientific referent, as well as lecturer, of the training initiatives promoted by the Finance area of Luiss Business School, a division of Luiss G. Carli in Rome. This role entailed responsibility for the specialized content of training projects, support in the choice of lecturers and promotion of courses.

He has been a university lecturer at the Faculty of Economics “Giorgio Fuà” of the Università Politecnica delle Marche and the Faculty of Economics of the University of Bari. He has been a lecturer in master’s and professional training courses promoted by the University of Bergamo, the Catholic University of the Sacred Heart in Milan and the University of International Studies in Rome.

He collaborates with numerous research and training facilities by holding courses and seminars in the subjects of business economics, management and finance.

Participation in third mission activities, with particular reference to technology transfer and placement, is carried out within both the university and national associations and consortia.


He is interested in activities related to the protection of intellectual property as vice-chair of the patent commission for which he contributed to the mapping of patents and the drafting of the new university regulations. As part of activities related to the creation of spin-off companies, he contributes to the launch of new entrepreneurial initiatives promoted by the academic community.

He is among the referees of the strategic planning document of the University of Molise 2021/2023. He has actively participated in the selection of case studies related to the Third Mission to be presented in the VQR 2015-2019. Finally, he actively contributed to the formation of the partnership of the university project “Sustainable ecosystems hub for health, environment and energy transition” submitted for participation in the call on innovation ecosystems in the Mezzogiorno promoted by the Agency for Territorial Cohesion Cohesion.

He is the promoter as well as responsible (C-lab chief) of the Molise Contamination Lab, an initiative for the development of projects with an entrepreneurial vocation in collaboration between the University of Molise and Sviluppo Italia Molise, which received regional funding of €600,000 under the measure on interventions aimed at fostering the competitiveness of enterprises and production systems. He is one of the promoters of the Moliz project – Molise for Generation Z, which obtained funding of €9.3 million in March 2024.

He is the promoter, founder and partner of a university spin-off, 110 Laude Srl, which operates in fintech. In addition, he was founder of an innovative start-up ex Law 22/2012 recognized by the Ministry of Economic Development (MISE).

He is the scientific referent for the University of Molise of the Network for the Enhancement of Research (NETVAL) as well as the University referent of the Italian Contamination Lab Network. He participates as a delegate of the Rector in the work and assemblies of the PNICube Association and in training activities promoted by CRUI.

In the area of third-party activities, he is active at both the university and department levels in entering into research/consulting contracts with external clients. In this area, he recently promoted the agreement between the Department of Economics and a bank belonging to Cassa Centrale Banca – Gruppo Cooperativo Italiano for a research project entitled “The sustainability of the business model of cooperative credit banks.”

In the area of public engagement, it supports the organization and implementation of public benefit events open to the community (e.g., TedX Campobasso), coordinates the communication activities of the Molise Contamination lab and Bifelab to foster scientific dissemination, collaborates in the production of publications, print and digital, dedicated to the non-academic public, and promotes initiatives to enhance and share research (seminars and workshops).


He is a management consultant for companies, banks and private and public institutions in the context of strategy and corporate finance.


Michele Modina on ResearchGate



MODINA M., COMANA M., PREVITALI D. (2016). L’innovazione in banca. Banche Regionali, modelli di business e strategie distributive. ROMA: Bancaria Editrice. ISBN: 978-88-449-1064-8

MODINA M. (2015). Credit Rating and Bank-Firm Relationship: New Models to Better Evaluate SMES. PALGRAVE MACMILLAN STUDIES IN BANKING AND FINANCIAL INSTITUTIONS, LONDON: Palgrave Macmillan, ISBN: 9781137496218

MODINA M (2013). La creazione di valore: è davvero l’idea più stupida al mondo?. p. 1-171, BARI: Cacucci Editore, ISBN: 978-88-6611-317-1

MODINA M. (2012), I nuovi strumenti di capitale e i riflessi sull’impresa bancaria, p. 1-122, BARI: Cacucci, ISBN: 978-88-6611-163-4

MODINA M., BIRINDELLI G., CATTANEO C., FORMISANO V., QUATTROCIOCCHI B. (a cura di) (2012). Il rating 2.0 per una nuova relazione tra impresa e banca. PADOVA: CEDAM, ISBN: 978-88-13-33467-3

MODINA M., BIRINDELLI G. (a cura di) (2010). Imprese, banche e finanza – Le evidenze di un’analisi territoriale alla luce della crisi finanziari. MILANO: Franco Angeli, p. 1-231, ISBN: 978-88-568-2428-5

MODINA M., CATTANEO C. (a cura di) (2006). Basilea 2 e PMI: impatti sulla gestione e sulla relazione banca-impresa. MILANO: Franco Angeli, p. 1-322, ISBN: 88-464-7695-6

Articles in journals:

QUINTILIANI A., MODINA M. ARNONE M. (forthcoming), Financial literacy, value creation and firm performance. An investigation of Italian small and medium enterprises, INTERNATIONAL JOURNAL OF ENTERPRENEURSHIP AND SMALL BUSINESS, DOI: 10.1504/IJESB.2022.10034839.

GALLUCCI C., SANTULLI R., MODINA M., DE ROSA M. (2020), The role of family governance beyond financial ratios: An integrated perspective to family firms’ survival, JOURNAL OF FINANCIAL MANAGEMENT, MARKETS & INSTITUTIONS, Vol. 2. Pag.1-27 ISSN:2282-717X.

MINGUZZI A., MODINA M., GALLUCCI C., (2019), Foundations of Banking Origin and Social Rating Philosophy – A New Proposal for an Evaluation System, SUSTAINABILITY, n. 11.

MODINA M., IANIRO G., (2018), How defining startup companies can help to set the stage for an entrepreneurial ecosystem: an overview, ESPERIENZE D’IMPRESA, n. 1, pp. 65-83.

GALLUCCI C., FORMISANO V., MODINA M., SANTULLI R. (2017), Le determinanti bank-specific e firm-specific dell’offerta di credito, BANCARIA, anno 73, n. 11, pp. 30-47.

GALLUCCI C., FORMISANO V., MODINA M., SANTULLI R. (2017), Beyond Banks’ Capitalization: What Affects the Credit Lines?, INTERNATIONAL JOURNAL OF FINANCIAL RESEARCH, Vol. 6, n. 4, pp. 71-79.

MODINA M., ARNONE M. FARINA G. (2015). Technological Districts and the Financing of Innovation: Opportunities and Challenges for Local Banks, ECONOMIC NOTES, vol. 14, n. 3, pp. 483-510.

MODINA M., PIETROVITO F. (2014), A default prediction model for Italian SMEs: the relevance of the capital structure, APPLIED FINANCIAL ECONOMICS, vol. 24, n. 23, p. 1537-1554

MODINA M., CAVALLONE M. (2013). Customer Perception of Bank Communication: Evidence and Implications. CORPORATE OWNERSHIP & CONTROL, vol. 10, p. 299-307, ISSN: 1810-3057

Book Chapters:

MINGUZZI A., MODINA M. (2021), Crowdfunding as a support tool for the activity of social investors. In: La Torre M., Chiappini H. (eds). LA TORRE M. (eds). Contemporary Issues in Sustainable Finance. Financial Products and Financial Institutions, Palgrave Studies in Impact Finance, Palgrave MacMillan. ISBN 978-3-030-65132-9.

MODINA M. (2020), Covid-19 e imprese: impatto, prime risposte e lezioni da apprendere per un ritorno alla prossima normalità. In: PALMIERI G. (eds). Oltre la pandemia. Società, salute, economia e regole nell’era post Covid-19. Editoriale Scientifica.

FORMISANO V., MODINA M., (2020). Innovazione digitale e retail banking: i riflessi sulla strategia e sul modello di business. In: AA.VV. (eds). Contributi in onore di Gaetano Maria Golinelli, Rogiosi, ISBN 978-88-6950-393-1.

GALLUCCI C., MODINA M., MINGUZZI A. (2018). The Evolution of a Social Service Crowdfunding Platform toward an Investing Logic: The Meridonare Case Study. In: LA TORRE M. (eds). Palgrave Studies in Impact Finance, Palgrave MacMillan.

CAVALLONE M., MODINA M. (2017). The Quality of Customer Relationships in Different Clusters of Italian Banks: Evidence and Implications. In: CAMPBELL C.L. (eds). The Customer is NOT Always Right? Marketing Orientation in a Dynamic Business World. Developments in Marketing Science. Springer, Cham