Corporate Governance and Corporate Finance

Corporate Finance

SAFE fördert Forschung über das Verhalten von Unternehmen und ihren zentralen Entscheidungsträgern in der Interaktion mit den Finanzmärkten: Welchen Einfluss haben die Finanzmärkte und insbesondere der Wettbewerb auf diesen Märkten auf  Unternehmensentscheidungen, insbesondere Finanzierungsentscheidungen und Governance-Strukturen? Und welchen Einfluss haben Unternehmensentscheidungen und Governance auf die Finanzmärkte?

Zum einen steht somit die Verbindung zwischen der Struktur des Finanzsystems und der Unternehmensfinanzierung in der Realwirtschaft im Blickpunkt dieses Forschungsbereichs. Dabei wird sowohl der Zusammenhang zwischen dem Wettbewerb im Bankensektor und dem Zugang zu Kapital für kleinere und mittlere Unternehmen untersucht als auch die Bedeutung der Unternehmensfinanzierung für das Verhalten der Unternehmen im Produktmarkt.

Einen zweiten Schwerpunkt bilden Untersuchungen zur Corporate Governance von Finanzinstitutionen und deren Implikationen für die Finanzmärkte. Corporate-Governance-Mechanismen und insbesondere die damit verbundenen Anreizstrukturen und Verhaltensmuster (zum Beispiel in Bezug auf Kurzfrist-Orientierung und exzessive Risikobereitschaft) werden oft als wesentliche Ursachen für die Instabilität des Finanzsystems im Allgemeinen und die jüngste Finanzkrise im Besonderen angesehen. Eine sorgfältige Analyse verschiedener Aspekte der Corporate Governance von Finanzinstitutionen hat deshalb wesentlich an Bedeutung gewonnen, nicht zuletzt im Rahmen der aktuellen Regulierungsdiskussion. Vielen Hypothesen, die regulatorischen Reformen von Finanzinstitutionen zugrunde liegen, fehlt es an stichhaltiger und ausreichend empirischer Evidenz und theoretischer Plausibilität.

Wichtige Themen des Forschungsbereiches sind: Corporate Governance und Vergütungsstrukturen, Wagniskapital und Innovationsfinanzierung, Finanzierung von kleinen und mittleren Unternehmen in der Kapitalmarktunion, Investitionsentscheidungen und Produktmarktentscheidungen, Wettbewerb in Bankenmärkten und Finanz(in-)stabilität, Wettbewerb in Finanzmärkten, Netzwerke in Aufsichtsräte.

Program Director

Prof. Dr. Tobias Tröger

SAFE Professor für Bürgerliches Recht, Handels- und Wirtschaftsrecht und Rechtstheorie


Publikationen

Publiziert Titel Autor(en) Forschungs­bereich Keywords Publiziert
2017

Mercantilist dualization: the introduction of the euro, redistribution of industry rents, and wage inequality in Germany, 1993–2008

Fabian Ochsenfeld Socio-Economic Review Corporate Finance distribution, manufacturing, causal mechanisms, political economy, Germany, Europe 2017
2017

Direct and Indirect Risk-Taking Incentives of Inside Debt

Stefano Colonnello, Giuliano Curatola, Ngoc Giang Hoang Journal of Corporate Finance Corporate Finance Inside Debt, Credit Spreads, Risk-Taking 2017
2017

Rent-Seeking in Elite Networks

Rainer Haselmann, David Schoenherr, Vikrant Vig forthcoming in the Journal of Political Economy Corporate Finance, Financial Institutions - 2017
2014

“Comply or Explain” im Spannungsfeld von Law and Finance

Brigitte Haar Vittorio Klostermann Corporate Finance 2014
2017

Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis

Sascha Baghestanian, Paul Gortner, Baptiste Massenot Experimental Economics Corporate Finance compensation, liquidity, experimental asset markets, bubbles 2017
2016

Incentive-Based Capital Requirements

Christian Eufinger, Andrej Gill forthcoming in Management Science Corporate Finance, Transparency Lab Basel III, capital regulation, compensation, leverage, risk 2016
2017

Do Disclosures of Customer Metrics Lower Investors’ and Analysts’ Uncertainty, But Hurt Firm Performance?

Emanuel Bayer, Bernd Skiera, Kapil Tuli Journal of Marketing Research Corporate Finance disclosure, customer metrics, accounting, financial reporting, marketing–finance interface 2017
2016

Freedom of Contract and Financial Stability

Brigitte Haar European Business Organization Law Review Systemic Risk Lab, Corporate Finance 2016
2014

Investor Protection Through Model Case Procedures – Implementing Collective Goals and Individual Rights Under the 2012 Amendment to the German Capital Markets Model Case Act (KapMuG)

Brigitte Haar European Business Organization Law Review Corporate Finance collective litigation, investor protection, test cases, German Capital Markets Model Case Act (KapMuG) 2014
2015

Performance Benefits of Tight Control

Andrej Gill, Nikolai Visnjic The Journal of Private Equity Corporate Finance, Transparency Lab private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance 2015
2016

Entrepreneurial Spawning: Experience, Education, and Exit

Douglas Cumming, Uwe Walz, Jochen Christian Werth Financial Review Corporate Finance Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit 2016
2014

Competition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail?

Moritz Christian Weber, Christine Zulehner Journal of the European Economic Association Corporate Finance 2014
2015

Competition in the Economic Crisis: Analysis of Procurement Auctions

Klaus Gugler, Michael Weichselbaumer, Christine Zulehner European Economic Review Corporate Finance Construction procurement, First-price auctions, Private values, Economic crisis, Government stimulus 2015
2014

Market Structure and Market Performance in E-Commerce

Franz Hackl, Michael Kummer, Rudolf Winter-Ebmer, Christine Zulehner European Economic Review Corporate Finance Retailing, Product life cycle, Market structure, Market performance, Markup, Price dispersion 2014
2013

Child-Care Costs and Mothers’ Employment Rates: An Empirical Analysis for Austria

Helmut Mahringer, Christine Zulehner Review of Economics of the Household Corporate Finance Child-care, Labour supply, Bivariate sample selection, Matched survey and administrative data 2013
2013

The Distribution of the Gender Pay Gap in Austria: Evidence from Matched Employer-Employee Data and Tax Records

René Böheim, Klemens Himpele, Helmut Mahringer, Christine Zulehner Journal for Labour Market Research Corporate Finance gender wage differentials, quantile regressions, decomposition, matched employer-employee data 2013
2013

The Gender Wage Gap in Austria: Eppur si muove!

René Böheim, Klemens Himpele, Helmut Mahringer, Christine Zulehner Empirica Corporate Finance Gender wage differentials, Wage inequality, Decomposition, Matched employer-employee data 2013
2015

Corporate Groups – A German’s European Perspective

Tobias Tröger Mohr Siebeck Corporate Finance Corporate Groups, Related Party Transactions, Tunneling, Corporate Governance, E.U. Corporate Law, Shareholder Rights Directive, Group Interesterest, Minority Shareholder Protection, Creditor Protection 2015
2014

Media slant against foreign owners: Downsizing

Guido Friebel, Matthias Heinz Journal of Public Economics Corporate Finance Media economics, Globalization, Economic xenophobia, Multi-national enterprises, Foreign direct investment 2014

Working Papers

Titel Autor(en) Nr. Forschungs­bereich Jahr Keywords Publiziert

Women form social networks more selectively and less opportunistically than men

Guido Friebel, Marie Lalanne, Bernard Richter, Peter Schwardmann, Paul Seabright 168 Corporate Finance, Transparency Lab 2017 Social Networks, Gender Differences, Trust Game 201703

The Effect of Personal Financing Disruptions on Entrepreneurship

Tobin Hanspal 161 Household Finance, Corporate Finance 2016 Entrepreneurship; Small business; Personal finance; Financial crisis; Bank defaults 201612

Abandon Ship: Deferred Compensation and Risk-Taking Incentives in Bad Times

Domenico Rocco Cambrea, Stefano Colonnello, Giuliano Curatola, Giulia Fantini 160 Corporate Finance 2016 Inside Debt, Executive Compensation, Corporate Distress 201612

Shareholder Wealth vs. Stakeholder interests? Evidence from Code Compliance under the German Corporate Governance Code

Brigitte Haar 154 Corporate Finance 2016 corporate governance codes, soft law, stakeholder, shareholder wealth, market enforcement, German corporate governance, supervisory board, incentive pay, severance pay caps, age limits 201611

The Financing Dynamics of Newly Founded Firms

Julia Hirsch, Uwe Walz 153 Corporate Finance 2016 financing decisions, life-cycle, firm growth, newly founded firms 201601

Freedom of Contract and Financial Stability through the lens of the Legal Theory of Finance

Brigitte Haar 141 Corporate Finance 2016 law and finance, financial stability, financial contracts, structured finance, asset-backed securities, pari passu clauses, collective action clauses, otc derivatives markets, central counter parties, Basel III, Coco bonds, trust law, China 201601

Governance in Entrepreneurial Ecosystems: Venture Capitalists vs. Technology Parks

Douglas Cumming, Jochen Christian Werth, Yelin Zhang 135 Corporate Finance 2016 Entrepreneurship, Entrepreneurial Finance, Governance, Technology Park, Incubator, Board of Directors, Venture Capital, Angel 201601

Reputation, Honesty, and Cheating in Informal Milk Markets in India

Markus Kröll, Devesh Rustagi 134 Corporate Finance 2016 Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India 201601

The Political Economy of Bank Bailouts

Markus Behn, Rainer Haselmann, Thomas Kick, Vikrant Vig 133 Financial Institutions, Corporate Finance 2016 political economy, bailouts, state-owned enterprises, elections 201601

Rent-Seeking in Elite Networks

Rainer Haselmann, David Schoenherr, Vikrant Vig 132 Financial Institutions, Corporate Finance 2016 - 201601

Competition in Treasury Auctions

Helmut Elsinger, Philipp Schmidt-Dengler, Christine Zulehner 127 Corporate Finance 2016 treasury auctions, multi-unit auctions, independent private values, competition, bidder surplus, auction format 201601

Coinvestment and risk taking in private equity funds

Carsten Bienz, Karin Thorburn, Uwe Walz 126 Corporate Finance 2016 Private equity, leveraged buyouts, incentives, coinvestment, risk taking, wealth 201601

Does Say on Pay Matter? Evidence from Germany

Tobias Tröger, Uwe Walz 125 Transparency Lab, Corporate Finance 2016 Say-on-pay, corporate governance, management compensation 201601

The Old Boy Network: The Impact of Professional Networks on Remuneration in Top Executive Jobs

Marie Lalanne, Paul Seabright 123 Corporate Finance 2016 professional networks, gender wage gap, executive compensation, placebo technique 201601

Entrepreneurial Spawning: Experience, Education, and Exit

Douglas Cumming, Uwe Walz, Jochen Christian Werth 122 Corporate Finance 2016 Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit 201601

Signaling Cooperation

Matthias Heinz, Heiner Schumacher 120 Corporate Finance 2015 Signaling, Public Goods, Labor Markets, Extracurricular Activities 201501

Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis

Sascha Baghestanian, Paul Gortner, Baptiste Massenot 108 Corporate Finance 2015 compensation, liquidity, experimental asset markets, bubbles 201501

Non-Mandatory Say on Pay Votes and AGM Participation: Evidence from Germany

Daniel Powell, Marc Steffen Rapp 107 Corporate Finance 2015 Corporate Governance, Executive Remuneration, Say on Pay, Annual General Meeting, Germany 201501

On the Impact of Leveraged Buyouts on Bank Systemic Risk

Marcel Grupp 101 Corporate Finance 2015 Leveraged buyouts, syndicated loans, systemic risk 201501

Taking the Lead: When Non-Banks Arrange Syndicated Loans

Marcel Grupp 100 Corporate Finance 2015 Non-bank lead arrangers, syndicated loans, spread premium 201501

The Influence of Leveraged Buyouts on Target Firms’ Competitors

Marcel Grupp, Christian Rauch, Marc Umber, Uwe Walz 99 Corporate Finance 2015 Product Market Competition, Peers, LBOs, Restructuring 201501

Peer Effects and Risk Sharing in Experimental Asset Markets

Sascha Baghestanian, Paul Gortner, Joel van der Weele 67 Corporate Finance, Household Finance, Financial Markets 2014 peer effects, laboratory experiments, risk taking, asset markets 201401

Corporate Groups

Tobias Tröger 66 Corporate Finance 2014 Corporate Groups, Related Party Transactions, Tunneling, Corporate Governance, E.U. Corporate Law, Shareholder Rights Directive, Group Interest, Minority Shareholder Protection, Creditor Protection 201401

A Repeated Principal-Agent Model with On-the-Job Search

Daniel Herbold 64 Corporate Finance 2014 Repeated Principal-Agent Model, On-the-Job Search, Moral Hazard, Multitasking, Efficiency Wages 201401

Direct and Indirect Risk-Taking Incentives of Inside Debt

Stefano Colonnello, Giuliano Curatola, Ngoc Giang Hoang 60 Corporate Finance 2014 Compensation Structure, Credit Spread, Risk-Taking, Inside Debt, Business Cycle 201401

Performance Benefits of Tight Control

Andrej Gill, Nikolai Visnjic 24 Corporate Finance, Transparency Lab 2013 private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance 201301

Insight Private Equity

Andrej Gill, Nikolai Visnjic 23 Corporate Finance, Transparency Lab 2013 private equity, leveraged buyouts, active shareholders, corporate restructuring, operational performance 201301

Interbank network and bank bailouts: Insurance mechanism for non-insured creditors?

Tim Eisert, Christian Eufinger 10 Systemic Risk Lab, Corporate Finance 2013 bailout, cycle flows, cyclical liabilities, interbank network, leverage 201301

Incentive-Based Capital Requirements

Christian Eufinger, Andrej Gill 9 Transparency Lab, Corporate Finance 2013 Basel III, capital regulation, compensation, leverage, risk 201301

Policy Papers

Jahr Titel Autor(en) Forschungs­bereich Keywords Jahr
September 2017

EU Mapping 2017: Systematic overview on economic and financial legislation

Katja Langenbucher, Lara Milione, Andreas Roth, Tobias Tröger Corporate Finance EU economic and financial services legislation 2017-09
April 2015

Stellungnahme zu den DCGK-Änderungs-Vorschlägen der Regierungs-Kommission Deutscher Corporate Governance Kodex

Hans-Joachim Böcking, Marius Gros, Daniel Worret Corporate Finance Deutscher Corporate Governance Kodex, Professionalisierung der Aufsichtsratstätigkeit, Financial Expert, Prüfungsausschuss, Aufsichtsratsvergütung 2015-04
June 2015

Negative Zinsen auf Einlagen – juristische Hindernisse und ihre wettbewerbspolitischen Auswirkungen

Tobias Tröger Corporate Finance Niedrigzinsumfeld, Einlageverträge, negativer Zins 2015-06
February 2014

Zur Offenlegung der Bezüge von Sparkassenführungskräften im Internet

Helmut Siekmann Corporate Finance Bezüge im Bankensektor, Transparenz, Corporate Governance 2014-02
May 2014

EU Mapping: Systematic Overview on Economic and Financial Legislation

Marcel Gellings, Kai Jungbluth, Katja Langenbucher Corporate Finance EU economic and financial services legislation 2014-05
February 2012

Constitutional Ruling on Court of Auditors’ Review of Banks

Helmut Siekmann, Patrick Tuschl Corporate Finance fiscal responsibility, control by Court of Auditors 2012-02
March 2013

Stellungnahme zu aktuellen Formulierungsvorschlägen für Änderungen am Deutschen Corporate Governance Kodex

Hans-Joachim Böcking, Marius Gros, Daniel Worret Corporate Finance Deutscher Corporate Governance Kodex, Financial Expert, Prüfungsausschuss, Vorstandsvergütung, Aufsichtsratsvergütung 2013-03
February 2013

Managementvergütung im Bankensektor

Jan Pieter Krahnen, Thomas Mayer Corporate Finance Boni, Bail-in Anleihen, Liikanen-Kommission 2013-02
September 2008

Die gerichtliche Kontrolle von Beschlüssen der Gläubigerversammlung

Theodor Baums Corporate Finance Gläubigerversammlung 2008-09
July 2008

Zur monistischen Verfassung der deutschen Aktiengesellschaft. Überlegungen de lege ferenda

Theodor Baums Corporate Finance Corporate Governance, Unternehmensverfassung 2008-07
May 2008

Zur Anfechtung von Hauptversammlungsbeschlüssen - rechtspolitische Vorschläge

Theodor Baums, Florian Drinhausen Corporate Finance Anfechtungsklage 2008-05
February 2008

Stellungnahme zum Referentenentwurf "Risikobegrenzungsgesetz"

Jan Pieter Krahnen Corporate Finance Corporate Governance, Finanzinnovationen 2008-02
January 2008

Europäische Modellgesetze im Gesellschaftsrecht

Theodor Baums Corporate Finance Modellgesellschaftsgesetze 2008-01
September 2007

Zur Deregulierung des Depotstimmrechts

Theodor Baums Corporate Finance Depotstimmrecht 2007-09
June 2007

The Law of Corporate Finance in Europe - an Essay

Theodor Baums Corporate Finance corporate finance 2007-06
October 2013

Commentary on ESMA Guidelines on enforcement of financial information

Hans-Joachim Böcking, Marius Gros, Daniel Worret Corporate Finance Enforcement, ESMA, financial reporting quality, restatements 2013-10
January 2012

Neues Schuldverschreibungsrecht und Altanleihen

Theodor Baums, Roland Schmidtbleicher Corporate Finance Collective Action Clauses, Anleihen, Umstrukturierung 2012-01
November 2011

Das Grünbuch der EU-Kommission „Weiteres Vorgehen im Bereich der Abschlussprüfung: Lehren aus der Krise“ – Eine Auswertung der Stellungnahmen des Konsultationsprozesses

Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel Worret Corporate Finance Abschlussprüfung, Finanzkrise, EU Grünbuch, Konsultationsprozess 2011-11
November 2011

Analysis of the EU Consultation on the Green Paper “Audit Policy: Lessons from the Crisis”

Hans-Joachim Böcking, Marius Gros, Christoph Wallek, Daniel Worret Corporate Finance Audit Policy, Financial Crisis, EU Green Paper, Consultation Process 2011-11
November 2011

Anfechtungsklagen und Freigabeverfahren. Eine empirische Studie

Theodor Baums, Florian Drinhausen, Astrid Keinath Corporate Finance Aktionärsrechte, Berufskläger, Anlegerschutz 2011-11
December 2010

Comment on the European Commission's Green Paper "Audit Policy: Lessons from the Crisis"

Hans-Joachim Böcking, Marius Gros Corporate Finance audit quality, expectation gap, regulation 2010-12
October 2010

Unternehmen und Ethik

Theodor Baums Corporate Finance Rechtsnormen, ethische Normen, Wirtschaftsverfassung 2010-10
May 2011

Report of the Reflection Group on the Future of EU Company Law

Theodor Baums Corporate Finance EU-harmonization, corporate governance, regulation, cross-border mobility 2011-05
November 2010

Low balling, creeping in und deutsches Übernahmerecht

Theodor Baums Corporate Finance feindliche Übernahme, Hauptversammlungsmehrheit, Meldepflichten 2010-11
August 2010

Managerhaftung und Verjährungsfrist

Theodor Baums Corporate Finance Organhaftungsregeln, Verjährungsfristen 2010-08
July 2010

Risiko und Risikosteuerung im Aktienrecht

Theodor Baums Corporate Finance Risikomanagement, Vorstandspflichten 2010-07
January 2010

Die Unabhängigkeit des Vergütungsberaters

Theodor Baums Corporate Finance Corporate Governance-Kodex, Vergütungsberater 2010-01
May 2009

Entwurf einer Regelung zur Mitbestimmungsvereinbarung und zur Größe des mitbestimmten Aufsichtsrats

Gregor Bachmann, Theodor Baums, Mathias Habersack, Martin Henssler, Marcus Lutter, Hartmut Oetker, Peter Ulmer Corporate Finance Mitbestimmungsrecht 2009-05
February 2009

Anschleichen an Übernahmeziele mittels Cash Settled Equity Derivaten - ein Regelungsvorschlag

Theodor Baums Corporate Finance Unternehmensübernahmen, Equity Swaps 2009-02
July 2011

Comment on the European Commission's Green Paper "The EU corporate governance framework"

Hans-Joachim Böcking, Marius Gros Corporate Finance corporate governance, supervisory board, shareholder activism 2011-07
April 2012

Stellungnahme zu den vom Deutschen Standardisierungsrat vorgeschlagenen Änderungen der Anforderungen an die Konzernlageberichterstattung

Hans-Joachim Böcking, Marius Gros Corporate Finance Chancen- und Risikoberichterstattung, Strategieberichterstattung, Management Commentary 2012-04
March 2012

Stellungnahme zu den DCGK-Aenderungsvorschlaegen der Regierungskommission Deutscher Corporate Governance Kodex

Hans-Joachim Böcking, Marius Gros Corporate Finance Deutscher Corporate Governance Kodex, Prüfungsausschuss, Aufsichtsratsvergütung 2012-03
March 2013

Legal aspects of gender balance on corporate boards in Germany

Katja Langenbucher Corporate Finance German corporate governance codex, gender equality, German constitutional law 2013-03
November 2012

Missachtung rechtlicher Vorgaben des AEUV durch die Mitgliedstaaten und die EZB in der Schuldenkrise

Helmut Siekmann Corporate Finance Bankenkrise, Staatsschuldenkrise, EFSF, ESM, Fiskalpakt 2012-11
September 2012

Die Legende von der verfassungsrechtlichen Sonderstellung des „anonymen“ Kapitaleigentums

Helmut Siekmann Corporate Finance Geldeigentum, Anteilseigentum, Gesellschaftsrecht, Verfassungsrecht 2012-09
September 2012

Frueher war nicht alles besser

Theodor Baums Corporate Finance 2012-09

Forschungsprojekte

Kategorie Projekt Forscher Projektdauer Keywords Projekt ID Publication Count
Corporate Finance

Gender Diversity, Decision Rules, and the Risk Appetite of Teams

Renée Adams, Andreas Grunewald, Ferdinand von Siemens 2017 Corporate Boards, Gender Diversity, Risk Taking, Banking, Teams 21223 0
Corporate Finance, Financial Markets

Competition-enhancing Changes in Secondary Corporate Bond

Satchit Sagade, Christian Westheide 2017 competition, corporate bond, liquidity 21640 0
Corporate Finance

Germany's Reluctance to Regulate Related Party Transactions

Tobias Tröger 2017 Related Party Transactions, Tunneling, Corporate Governance, Germany 0
Corporate Finance

Local Spillover Effects and Corporate Investment

Yangming Bao, Martin Götz 2017 corporate investment, peer effects, local spillover, urban agglomeration 21224 0
Corporate Finance

The Dynamics of (De-)Listing Decisions – The Impact of Regulatory Changes and Economic Policy Events in Germany 1870-1933

Andrej Gill, Uwe Walz 2017 Corporate Governance, Going Public, Going Private, Historical Data, Regulation 21225 0
Corporate Finance

Criminal Compliance and Financial Institutions: Conformity effects and cost-effectiveness

Christoph Burchard, Ercan Cömert, Horst Entorf, Dennis Gram 2017 Financial Crimes | Criminal Compliance |Financial Institutions | Differences-in-Differences | Treatment Effect Heterogeneity 21222 0
Corporate Finance

Measuring Time Inconsistency by using bank account data

Andrej Gill, Florian Hett 2016 financial mistakes, transaction data, household finance, time-inconsistency, present bias, time preferences 21640 0
Corporate Finance

The Law and Finance of Related Party Transactions: A Comparative Analysis

Luca Enriques, Tobias Tröger 2016 related party transactions, tunneling, controlling shareholders, agency costs, capital market development 21220 0
Corporate Finance

The impact of structural reform proposals

Rainer Haselmann, Lara Milione, Tobias Tröger 2016 banking separation, Volcker Rule, ring fencing, Liikanen report, event study 21221 0
Corporate Finance, Financial Markets

Innovations in Secondary Markets and Their Impact on Market Quality

Alejandro Bernales, Jasmin Gider, Peter Gomber, Satchit Sagade, Stefan Scharnowski, Erik Theissen, Christian Westheide 2016 high frequency trading, competition, intermediation, order anticipation 21640 1
Macro Finance, Financial Institutions, Corporate Finance, Financial Markets

Bailouts and financial stability: Experimental evidence

Paul Gortner, Baptiste Massenot 2016 21650 1
Corporate Finance

Firms’ Financial Decisions and Product Market Competition

Ulrich Doraszelski, Alexander Stomper, Christine Zulehner 2016 21640 1
Corporate Finance

Quantification of the Effect of Regulation on Firms’ Demand for Credits and Banks’ Market Power

Rainer Haselmann, Vikrant Vig, Shiwei Yu, Christine Zulehner 2016 bank regulation, model based regulation, bank competition, structural estimation 21600 1
Macro Finance, Financial Institutions, Corporate Finance, Financial Markets

Capital requirements and financial stability: Experimental evidence

Paul Gortner, Baptiste Massenot 2016 21650 1
Corporate Finance, Financial Institutions

Banking structure and dynamics of small and medium sized enterprises

Douglas Cumming, Christian Eufinger, Andrej Gill, David Heller, Jan Krzyzanowski, Uwe Walz 2016 21640 1
Corporate Finance

Social Networks, Careers and Corporate Governance

Nicoletta Berardi, Marie Lalanne, Paul Seabright 2016 Social networks, board appointments, corporate governance, labor mobility, top management compensation 0
Corporate Finance

(Peer Effects in Corporate Policies) Pink is the New Black: Networks and Women at the Corporate Top

Marie Lalanne, Eirini Tatsi 2015 Peer effects, corporate policies 11233 0
Corporate Finance

Venture Boards - Empirical Evidence from Venture Capital-backed Start-Ups in the U.S.

Douglas Cumming, Uwe Walz, Jochen Christian Werth, Sijia Zhang 2015 Corporate Governance, Entrepreneurial Finance, Board Structure 11229 1
Corporate Finance

Organizational Structure, Technological Change and Rising Wage Inequality in Germany: an Empirical Study Using Linked Employer-Employee Data

Markus Gangl, Fabian Ochsenfeld 2015 21290 1
Corporate Finance, Transparency Lab

Non-Standard Preferences and Financial Decision Making

Sascha Baghestanian, Paul Gortner, Matthias Heinz, Heiner Schumacher, Joel van der Weele 2014 Social Preferences, Financial Institutions, Incentives 11223 1
Corporate Finance, Systemic Risk Lab

GLawFin – Private Contracts and Systemic Risk

Luca Amorello, Pedro Magalhães Batista, Biljana Biljanovska, Jacob Bonavita, Brigitte Haar, Katharina Pistor, Max Weber 2014 Financial Markets, Financial Institutions, Financial Stability, Financial Contracts, Corporate Finance, Corporate Governance, Financial Institutions, Financial Services, Law and Economics, Systemic Risk 12125 1
Corporate Finance

Executive Compensation and Credit Spread

Stefano Colonnello, Giuliano Curatola, Ngoc Giang Hoang 2014 Compensation Structure, Credit Spread, Risk-Taking, Inside Debt, Business Cycle 11227 1
Corporate Finance

Excessive Risk Taking, Compensation Schemes and Financial Market Stability

Sascha Baghestanian, Paul Gortner, Baptiste Massenot 2014 Compensation Schemes, Bubbles, Risk Seeking, Liquidity, Experimental Asset Markets 11226 1
Corporate Finance

Non-Standard Preferences in experimental asset markets

Matthias Blonski, Paul Gortner, Heiner Schumacher, Joel van der Weele 2014 laboratory experiments, experimental asset markets, peer effects, social preferences 11231 0
Corporate Finance

Corruption in the Lab and in the Field: Evidence from a Market for Credence Goods

Markus Kröll, Devesh Rustagi 2014 Corruption, economic experiments, India, Milkmen 11228 1
Corporate Finance

To Have and to Hold: Trends in Industry Rents for Germany

Markus Gangl, Fabian Ochsenfeld 2013 Wage distribution, wage rents, labor market segmentation, industry effects, multilevel modeling, German Socio-Economic Panel, Labour Force Survey, Germany 11225 1
Corporate Finance, Transparency Lab

Gendered Network Structures and Careers

Guido Friebel, Marie Lalanne, Bernard Richter, Peter Schwardmann, Paul Seabright 2013 Professional networks, gender wage gap, executive compensation, social networks, trust 12221 1
Corporate Finance, Transparency Lab

Corporate Governance of Financial Institutions – Does say-on-pay matter?

Biljana Biljanovska, Guido Ferrarini, Brigitte Haar, Randall S. Thomas, Tobias Tröger, Uwe Walz, Charles K. Whitehead 2013 Corporate Governance, Financial Institutions, Management Compensation, Moral Hazard, Ownership Structure, Say-on-pay 11224 1
Corporate Finance, Transparency Lab, Systemic Risk Lab

Corporate Governance in Banks

Tim Eisert, Christian Eufinger, Andrej Gill, Christian Hirsch, Uwe Walz 2013 Corporate Governance, Financial Institutions, Management Compensation, Moral Hazard, Ownership Structure, Risk Shifting 11221 1
Corporate Finance, Systemic Risk Lab

Leverage in Private Equity: A Potential Source of Systemic Risk?

Christian Rauch, Uwe Walz 2013 Competition, Peers, LBOs, Product Market, Restructuring 11222 1

Aktuelles Forschungsteam

Forscher Position
Adams, Renée External Researcher
Blonski, Matthias Professor
Burchard, Christoph Professor
Cumming, Douglas External Researcher, CFS/SAFE Fellow
Curatola, Giuliano Assistant Professor
Cömert, Ercan Research Assistant
Eisert, Tim External Researcher
Entorf, Horst Professor
Eufinger, Christian External Researcher
Friedrich, Alexander Research Assistant
Gangl, Markus Professor
Gill, Andrej External Researcher
Gomber, Peter Professor
Gortner, Paul Research Assistant
Gram, Dennis Research Assistant
Grunewald, Andreas Professor
Götz, Martin Professor
Haar, Brigitte Professor
Happ, Benedikt Research Assistant
Haselmann, Rainer Professor
Heller, David External Researcher
Hett, Florian Assistant Professor
Hirsch, Christian External Researcher
Inderst, Roman Professor
Karapanagiotis, Pantelis Research Assistant
Kelm, Thomas Research Assistant
Krzyzanowski, Jan External Researcher
Lalanne, Marie Assistant Professor
Massenot, Baptiste Assistant Professor
Milione, Lara Research Assistant
Opferkuch, Julian Research Assistant
Pezone, Vincenzo Assistant Professor
Sagade, Satchit Assistant Professor
Scharnowski, Stefan Research Assistant
Schumacher, Heiner External Researcher
Skiera, Bernd Professor
Tröger, Tobias Professor
van der Weele, Joel External Researcher, CFS/SAFE Fellow
von Siemens, Ferdinand Professor
Walz, Uwe Professor
Westheide, Christian Assistant Professor
Whitehead, Charles K. External Researcher, CFS/SAFE Fellow
Yu, Shiwei Research Assistant
Zulehner, Christine External Researcher