Genoa Centre for Law and Finance

Shanshan Zhu


Post-Doctoral Research Fellow

Department of Law

University of Genoa

Via Balbi, 22, 16126 Genoa, Italy

Telephone +39 010 2099951, Fax +39 010 2099890


SUPERVISORS: Prof. Guido Ferrarini and Prof. Michele Siri

Dr. Shanshan Zhu graduated from Genoa Law School with a final grade of 110/110 cum laude and publication recommended, with a dissertation entitled ‘Corporate Governance and Enterprise Reform in China’.

In May 2019, she obtained her Ph.D with the dissertation “Corporate Governance of Banks:
An interdisciplinary approach to establish a sound culture”. Currently, she holds the position of Post-Doctoral Research Fellow in Sustainable Financial Regulation and Adjunct Professor of Company Law of Tourism at the University of Genoa. Her research interests are corporate governance, organizational culture, finance and banking regulation, and sustainable finance.

She was an intern with Allen&Overy International Law Firma in the Corporate and M&A Department, and she is currently collaborating as ESG specialist at FinScience S.r.l in Milan.

In October 2019, she was admitted as a lawyer (Milan).



1. FERRARINI, G. and ZHU, S., ‘Culture of Financial Institutions’, in D. BUSCH, G. FERRARINI and G. VAN SOLINGE (eds.), Governance of Financial Institutions, Oxford University Press, 2019, 381-414.

Abstract: In this chapter, we argue that in order to get to the roots of the problem and to build a sustainable financial system, legal and economic scholars should follow a new approach and analyse similar phenomena also through the lenses of other social sciences. Given that regulation per se cannot be expected to promote good corporate culture, we argue that the role of corporate governance should be enhanced so as to reinforce sustainable conduct within financial institutions. In addition, we suggest that supervisory authorities and institutional investors should make pressure on boards incentivizing them to design and implement a sustainable and ethical culture within financial institutions.

2. SIRI, M. and ZHU, S., ‘EU Investor’, in A. BARTOLINI et al. (eds.), Dictionary of Statuses within EU Law, Springer, 2019, 209-217.

Abstract: This paper aims to define the current investor protection regime under European Union rules. The reforming process that involved the entire financial regulatory framework in the last decade clearly signed a shift towards a more ‘paternalistic’ approach, intended to prevent further episodes of financial misbehaviour. The article analyses the main regulatory innovations concerning (1) the disclosure of product information, (2) conduct of business (COB) rules, (3) product governance and intervention and (4) financial education.

3. ZHU, S. AND SIRI,M., ‘Will the EU Commission successfully integrate sustianability risks and factors in the investor protection regime: A Research Agenda’, Sustainability 11, Special Issue: Corporate Sustainability Reforms, 2019.

Abstract: this paper starts by briefly analyzing the recent developments of the regulation of sustainable finance at the global level, then offers a more detailed view on the establishment of a common regime on sustainable finance in the EU, with particular reference to the action plan ‘Financing Sustainable Growth’. Then, it examines the recent proposals for regulation on sustainable finance, specifically considering the barriers to the integration of sustainability risks and factors in the EU investor protection regulation—with particular reference to investment services—with respect to its four main dimensions: (1) disclosure of product information, (2) conduct of business (COB) rules, (3) product governance and intervention, and (4) financial education. The paper concludes that the EU reforming proposals, though admirable, risk oversimplifying a complex issue that cannot be easily solved without considering its practical implications on each category of financial operators in the performance of different financial services.

4. ZHU, S. AND SIRI, M., ‘L’integrazione della sostenibilità nel sistema europeo di protezione degli investitori, in “Banca Impresa Società, Rivista quadrimestrale” 1/2020, pp. 3-45, doi: 10.1435/96780.

Abstract: This paper analyses the recent developments of the regulation of sustainable finance, starting from the global level, then considering the establishment of a com- mon regime on sustainable finance in the EU. Subsequently, the article focuses on the barriers to the integration of sustainability risks and factors in the EU investor protection regulation, with respect to its main dimensions: disclosure of product in- formation; conduct of business rules; product governance and intervention and fi- nancial education.

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