Magdalena Pisa

Magdalena Pisa is an Assistant Professor at WHU – Otto Beisheim School of Management, affiliated with the Finance and Accounting Group. Her research focuses on financial constraints, credit risk, and failure dependencies among private and small-to-medium enterprises (SMEs), particularly in the context of financial regulation such as Basel capital requirements.

Her educational background includes a PhD in Finance from Maastricht University and the University of Luxembourg, an MSc in Food and Resource Economics (top of class) from the University of Bonn, and an MSc in Financial Economics from the University of Luxembourg. She taught courses in Excel Applied to Finance (MBA) and Probability and Statistics (Bachelor) during her doctoral studies and was a visiting researcher at Cornell University’s Johnson Graduate School of Management in 2014.

Her research explores whether financial regulations distort banks’ lending practices, how production linkages contribute to correlated defaults in SME portfolios, and whether access to external finance stabilizes economic growth. She advocates for regulatory adjustments to better reflect the lower risk profile of SMEs compared to large firms.

Magdalena has received research funding from the Fonds National de la Recherche Luxembourg and the European Investment Bank (EIB) through its University Research Sponsorship program in 2010. These grants supported her doctoral research and early academic initiatives.

• Fonds National de la Recherche Luxembourg PhD Grant
• EIB-University Research Sponsorship (2010)

She advises on financial regulation policy and contributes to academic discourse through her work on SME financing transparency. There is no mention of formal advisees or grant leadership beyond her funded projects. She is actively engaged in research and teaching within the Finance & Accounting Group at WHU.