Law & Finance

The cluster Law & Finance brings together expertise from all departments to address central, particularly interdisciplinary issues, including the effectiveness of different regulatory approaches to financial markets and institutions as implemented in different jurisdictions in recent years, and the impact of consumer protection legislation in the financial sector. Corporate finance issues are addressed in cooperation with the departments Financial Intermediation and Financial Markets.

The department will be closely linked with the DFG Kolleg research group on "Foundations of Law and Finance" established in 2017.

Publications

Published	Title	Author/s	Program Area	Keywords	Published
2019	Bankenstrukturreformen in Deutschland und dem Vereinigten Königreich	Theresa Kreft	Law and Finance		2019
2021	From Liberalism to Fascism and Back Again: Law, Politics and the Evolution of Corporate Governance in Germany (1850-1950) The Emergence of Corporate Governance - People, Power and Performance (Routledge Taylor & Francis Group)	Stephanie Collet, Caroline Fohlin	Law and Finance, Data Center		2021
2019	Interdisziplinäre Forschung im Unternehmensrecht – Auf dem Weg zu einer Cognitive Corporate Governance? Zeitschrift für Unternehmens- und Gesellschaftsrecht	Katja Langenbucher	Law and Finance		2019
2019	Does Say on Pay Matter? Evidence from Germany European Company and Financial Law Review	Tobias Tröger, Uwe Walz	Law and Finance, Transparency Lab	Say-on-pay, corporate governance, management compensation	2019
2019	Interbank Networks and Backdoor Bailouts: Benefiting from Other Banks’ Government Guarantees Management Science	Tim Eisert, Christian Eufinger	Law and Finance, Systemic Risk Lab	bailout, cycle flows, cyclical liabilities, interbank network, leverage	2019
2019	The Financing Dynamics of Newly Founded Firms Journal of Banking and Finance	Julia Hirsch, Jia Hou, Uwe Walz	Law and Finance	financing decisions, life-cycle, firm growth, newly founded firms	2019
2018	The Relational Nature of Employment Dualization: Evidence from Subcontracting Establishments European Sociological Review	Fabian Ochsenfeld	Law and Finance		2018
2017	Registered Cartels in Austria: An Overview European Journal of Law and Economics	Nikolaus Fink, Philipp Schmidt-Dengler, Konrad Stahl, Christine Zulehner	Law and Finance	Collusion, Cartels, Legal cartels, Contracts	2017
2019	Competition in Treasury Auctions American Economic Journal: Microeconomics	Helmut Elsinger, Philipp Schmidt-Dengler, Christine Zulehner	Law and Finance	treasury auctions, multi-unit auctions, independent private values, competition, bidder surplus, auction format	2019
2018	Lohnbildung und Lohnverteilung Arbeitsmarktsoziologie: Probleme, Theorien, empirische Befunde (Springer)	Markus Gangl	Law and Finance		2018
2019	The Law and Finance of Related Party Transactions Cambridge University Press	Luca Enriques, Tobias Tröger	Law and Finance		2019
2017	Direct and Indirect Risk-Taking Incentives of Inside Debt Journal of Corporate Finance	Stefano Colonnello, Giuliano Curatola, Ngoc Giang Hoang	Law and Finance	Inside Debt, Credit Spreads, Risk-Taking	2017
2018	Rent-Seeking in Elite Networks Journal of Political Economy	Rainer Haselmann, David Schoenherr, Vikrant Vig	Financial Intermediation, Law and Finance	-	2018
2014	"Comply or Explain" im Spannungsfeld von Law and Finance 100 Jahre Rechtswissenschaft in Frankfurt (Vittorio Klostermann)	Brigitte Haar	Law and Finance		2014
2017	Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis Experimental Economics	Sascha Baghestanian, Paul Gortner, Baptiste Massenot	Law and Finance, Experiment Center	compensation, liquidity, experimental asset markets, bubbles	2017
2017	Incentive-Based Capital Requirements Management Science	Christian Eufinger, Andrej Gill	Law and Finance, Transparency Lab, Experiment Center	Basel III, capital regulation, compensation, leverage, risk	2017
2017	Do Disclosures of Customer Metrics Lower Investors’ and Analysts’ Uncertainty, But Hurt Firm Performance? Journal of Marketing Research	Emanuel Bayer, Bernd Skiera, Kapil Tuli	Law and Finance	disclosure, customer metrics, accounting, financial reporting, marketing–finance interface	2017
2016	Freedom of Contract and Financial Stability European Business Organization Law Review	Brigitte Haar	Law and Finance, Systemic Risk Lab		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) European Business Organization Law Review	Brigitte Haar	Law and Finance	collective litigation, investor protection, test cases, German Capital Markets Model Case Act (KapMuG)	2014
2015	Performance Benefits of Tight Control The Journal of Private Equity	Andrej Gill, Nikolai Visnjic	Law and Finance, Transparency Lab, Experiment Center	private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance	2015
2016	Entrepreneurial Spawning: Experience, Education, and Exit Financial Review	Douglas Cumming, Uwe Walz, Jochen Christian Werth	Law and Finance	Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit	2016
2014	Competition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail? Journal of the European Economic Association	Andrea Weber, Moritz Christian Weber, Andrea Weber, Christine Zulehner	Law and Finance		2014
2015	Competition in the Economic Crisis: Analysis of Procurement Auctions European Economic Review	Klaus Gugler, Michael Weichselbaumer, Christine Zulehner	Law and Finance	Construction procurement, First-price auctions, Private values, Economic crisis, Government stimulus	2015
2013	Child-Care Costs and Mothers’ Employment Rates: An Empirical Analysis for Austria Review of Economics of the Household	Helmut Mahringer, Christine Zulehner	Law and 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 Journal for Labour Market Research	René Böheim, Klemens Himpele, Helmut Mahringer, Christine Zulehner	Law and Finance	gender wage differentials, quantile regressions, decomposition, matched employer-employee data	2013
2013	The Gender Wage Gap in Austria: Eppur si muove! Empirica	René Böheim, Klemens Himpele, Helmut Mahringer, Christine Zulehner	Law and Finance	Gender wage differentials, Wage inequality, Decomposition, Matched employer-employee data	2013
2015	Corporate Groups – A German’s European Perspective German and Nordic Perspectives on Company Law and Capital Markets Law (Mohr Siebeck)	Tobias Tröger	Law and 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 Journal of Public Economics	Guido Friebel, Matthias Heinz	Law and Finance	Media economics, Globalization, Economic xenophobia, Multi-national enterprises, Foreign direct investment	2014

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Working Papers

Title	Author/s	No.	Program Area	Year	Keywords	Published
Interbank Network and Bank Bailouts: Insurance Mechanism for Non-Insured Creditors?	Tim Eisert, Christian Eufinger	10	Law and Finance, Systemic Risk Lab	2013	bailout, cycle flows, cyclical liabilities, interbank network, leverage	Jan 2013
Incentive-Based Capital Requirements	Christian Eufinger, Andrej Gill	9	Law and Finance, Transparency Lab, Experiment Center	2013	Basel III, capital regulation, compensation, leverage, risk	Jan 2013
Insight Private Equity	Andrej Gill, Nikolai Visnjic	23	Law and Finance, Transparency Lab, Experiment Center	2013	private equity, leveraged buyouts, active shareholders, corporate restructuring, operational performance	Jan 2013
Performance Benefits of Tight Control	Andrej Gill, Nikolai Visnjic	24	Law and Finance, Transparency Lab, Experiment Center	2013	private equity, leveraged buyouts, active shareholders, ownership concentration, corporate governance	Jan 2013
A Repeated Principal-Agent Model with On-the-Job Search	Daniel Herbold	64	Law and Finance	2014	Repeated Principal-Agent Model, On-the-Job Search, Moral Hazard, Multitasking, Efficiency Wages	Jan 2014
Corporate Groups	Tobias Tröger	66	Law and Finance	2014	Corporate Groups, Related Party Transactions, Tunneling, Corporate Governance, E.U. Corporate Law, Shareholder Rights Directive, Group Interest, Minority Shareholder Protection, Creditor Protection	Jan 2014
The Influence of Leveraged Buyouts on Target Firms’ Competitors	Marcel Grupp, Christian Rauch, Marc Umber, Uwe Walz	99	Law and Finance	2015	Product Market Competition, Peers, LBOs, Restructuring	Jan 2015
Taking the Lead: When Non-Banks Arrange Syndicated Loans	Marcel Grupp	100	Law and Finance	2015	Non-bank lead arrangers, syndicated loans, spread premium	Jan 2015
Non-Mandatory Say on Pay Votes and AGM Participation: Evidence from Germany	Daniel Powell, Marc Steffen Rapp	107	Law and Finance	2015	Corporate Governance, Executive Remuneration, Say on Pay, Annual General Meeting, Germany	Jan 2015
Compensation Schemes, Liquidity Provision, and Asset Prices: An Experimental Analysis	Sascha Baghestanian, Paul Gortner, Baptiste Massenot	108	Law and Finance, Experiment Center	2015	compensation, liquidity, experimental asset markets, bubbles	Jan 2015
Signaling Cooperation	Matthias Heinz, Heiner Schumacher	120	Law and Finance	2015	Signaling, Public Goods, Labor Markets, Extracurricular Activities	Jan 2015
Entrepreneurial Spawning: Experience, Education, and Exit	Douglas Cumming, Uwe Walz, Jochen Christian Werth	122	Law and Finance	2016	Venture governance, entrepreneurship, entrepreneurial spawning, angel finance, venture capital, exit	Jan 2016
The Old Boy Network: The Impact of Professional Networks on Remuneration in Top Executive Jobs	Marie Lalanne, Paul Seabright	123	Law and Finance	2016	professional networks, gender wage gap, executive compensation, placebo technique	Jan 2016
Does Say on Pay Matter? Evidence from Germany	Tobias Tröger, Uwe Walz	125	Law and Finance, Transparency Lab	2016	Say-on-pay, corporate governance, management compensation	Jan 2016
Reputation, Honesty, and Cheating in Informal Milk Markets in India	Markus Kröll, Devesh Rustagi	134	Law and Finance, Experiment Center	2016	Motivation for honesty, asymmetric information, cheating, informal markets, die game, milk, India	Jan 2016
Competition in Treasury Auctions	Helmut Elsinger, Philipp Schmidt-Dengler, Christine Zulehner	127	Law and Finance	2016	treasury auctions, multi-unit auctions, independent private values, competition, bidder surplus, auction format	Jan 2016
Rent-Seeking in Elite Networks	Rainer Haselmann, David Schoenherr, Vikrant Vig	132	Financial Intermediation, Law and Finance	2016	-	Jan 2016
The Political Economy of Bank Bailouts	Markus Behn, Rainer Haselmann, Thomas Kick, Vikrant Vig	133	Financial Intermediation, Law and Finance	2016	political economy, bailouts, state-owned enterprises, elections	Jan 2016
Governance in Entrepreneurial Ecosystems: Venture Capitalists vs. Technology Parks	Douglas Cumming, Jochen Christian Werth, Yelin Zhang	135	Law and Finance	2016	Entrepreneurship, Entrepreneurial Finance, Governance, Technology Park, Incubator, Board of Directors, Venture Capital, Angel	Jan 2016
Freedom of Contract and Financial Stability Through the Lens of the Legal Theory of Finance	Brigitte Haar	141	Law and 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	Jan 2016
Direct and Indirect Risk-Taking Incentives of Inside Debt	Stefano Colonnello, Giuliano Curatola, Ngoc Giang Hoang	60	Law and Finance	2014	Compensation Structure, Credit Spread, Risk-Taking, Inside Debt, Business Cycle	Jan 2014
The Financing Dynamics of Newly Founded Firms	Julia Hirsch, Uwe Walz	153	Law and Finance	2016	financing decisions, life-cycle, firm growth, newly founded firms	Jan 2016
Shareholder Wealth vs. Stakeholder interests? Evidence from Code Compliance under the German Corporate Governance Code	Brigitte Haar	154	Law and Finance	2016	corporate governance codes, soft law, stakeholder, shareholder wealth, market enforcement, German corporate governance, supervisory board, incentive pay, severance pay caps, age limits	Nov 2016
CEO Investment of Deferred Compensation Plans and Firm Performance	Domenico Rocco Cambrea, Stefano Colonnello, Giuliano Curatola, Giulia Fantini	160	Law and Finance	2016	Inside Debt, Executive Compensation, Corporate Distress	Dec 2016
The Effect of Personal Financing Disruptions on Entrepreneurship	Tobin Hanspal	161	Law and Finance, Household Finance	2016	Entrepreneurship; Small business; Personal finance; Financial crisis; Bank defaults	Dec 2016
Women Form Social Networks More Selectively and Less Opportunistically Than Men	Guido Friebel, Marie Lalanne, Bernard Richter, Peter Schwardmann, Paul Seabright	168	Law and Finance, Transparency Lab	2017	Social Networks, Gender Differences, Trust Game	Mar 2017
The Real Effects of Judicial Enforcement	Vincenzo Pezone	192	Law and Finance	2018		Oct 2018
Financial Constraints, Newly Founded Firms and the Financial Crisis	Julia Hirsch, Uwe Walz	191	Law and Finance	2017	financial constraints, financial crisis, financing decisions, investment decisions, newly founded firms	Dec 2017
Regulation of Crowdfunding in Germany	Tobias Tröger	199	Law and Finance	2018	crowdfunding, crowdsponsoring, crowdlending, crowdinvesting, contract law, conflict of laws, banking regulation, securities regulation	Feb 2018
Germany's Reluctance to Regulate Related Party Transactions	Tobias Tröger	202	Law and Finance	2018	related party transactions, Germany Inc., industrial organization, tunneling, private benefits of control, capital maintenance, group law	Feb 2018
Local Peer Effects and Corporate Investment	Yangming Bao, Martin Götz	220	Law and Finance	2018	Investments, Peer Firm Effects, Agglomeration, Corporate Income Tax	Jul 2018
Only Time will Tell: A Theory of Deferred Compensation	Florian Hoffmann, Roman Inderst, Marcus Opp	218	Law and Finance	2018	Compensation design, duration of pay, moral hazard, persistence, principal- agent models, informativeness principle	Aug 2018
Financial Constraints and Corporate Environmental Responsibility	Martin Götz	241	Law and Finance	2019		Sep 2019
Professional Networks and their Coevolution with Executive Careers: Evidence from Europe and North America	Nicoletta Berardi, Marie Lalanne, Paul Seabright	243	Law and Finance	2019		Feb 2019
Financing Conditions and Toxic Emissions	Martin Götz	254	Law and Finance	2019		Jun 2019
The Value of Firm Networks: A Natural Experiment on Board Connections	Ester Faia, Maximilian Mayer, Vincenzo Pezone	269	Law and Finance	2020		Mar 2020
Motivated Beliefs and the Elderly’s Compliance with COVID-19 Measures	Ferdinand von Siemens	299	Law and Finance, Experiment Center	2021	motivated beliefs; compliance behavior; age; health; COVID-19	Jan 2021
Biases in Information Selection and Processing: Survey Evidence from the Pandemic	Ester Faia, Andreas Fuster, Vincenzo Pezone, Basit Zafar	307	Law and Finance	2021	Belief updating, confirmatory biases, endogenous informa- tion acquisition, media polarization, source dependence, COVID-19	Feb 2021

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Policy Papers

Year	Title	Author/s	Program Area	Keywords	Year
Mar 2021	BaFin (in)dependence – A reform proposal	Patrick Blank, Ann-Katrin Kaufhold, Jan Pieter Krahnen, Katja Langenbucher	Law and Finance, Financial Markets	Capital markets, supervision, Wirecard	Mar 2021
Mar 2021	When and how to unwind COVID-support measures to the banking system?	Rainer Haselmann, Tobias Tröger	Law and Finance	Covid-19, Forbearance, Bank Capitalization, Bank Resolution, Supervisory Relief Measures, Financial Stability	Mar 2021
Nov 2020	Plug the gap: Make resolution ready for corona	Thomas Huertas	Law and Finance	Resolution, Covid-19, Banking Crisis	Nov 2020
Jul 2020	Der Verlustrücktrag als Mittel der Konjunkturpolitik – Ausweitung des Verlustrücktrags auch auf die Gewerbesteuer erforderlich	Philipp Lamprecht, Alfons J. Weichenrieder	Law and Finance	Verlustrücktrag, Corona-Steuerhilfegesetz, Gewerbesteuer, Konjunkturpolitik	Jul 2020
Jun 2020	Bank capital and the European recovery from the COVID-19 crisis	Moritz Schularick, Sascha Steffen, Tobias Tröger	Law and Finance, Macro Finance	bank capital, financial stablity, COVID-19	Jun 2020
Apr 2020	The Case for Corona Bonds	Matej Avbelj, Antonia Baraggia, Jürgen Bast, Bojan Bugarič, Emanuel Castellarin, Francesco Costamagna, Anuscheh Faraha, Matthias Goldmann, Anna-Katharina Mangold, Mario Savino, Alexander Thiele, Annamaria Viterbo	Law and Finance	Corona Bonds, Coronavirus	Apr 2020
Jul 2017	EU Mapping 2017: Systematic Overview on Economic and Financial Legislation	Katja Langenbucher, Lara Milione, Andreas Roth, Tobias Tröger	Law and Finance	EU economic and financial services legislation	Jul 2017
Jul 2016	Fair Retail Banking: How to Prevent Mis-Selling by Banks	Günter Franke, Thomas Mosk, Eberhard Schnebel	Law and Finance	Retail Banking, Mis-selling, MiFID II	Jul 2016
Jun 2015	Negative Zinsen auf Einlagen – Juristische Hindernisse und ihre wettbewerbspolitischen Auswirkungen	Tobias Tröger	Law and Finance	Niedrigzinsumfeld, Einlageverträge, negativer Zins	Jun 2015
Feb 2014	Zur Offenlegung der Bezüge von Sparkassenführungskräften im Internet	Helmut Siekmann	Law and Finance	Bezüge im Bankensektor, Transparenz, Corporate Governance	Feb 2014
May 2014	EU Mapping: Systematic Overview on Economic and Financial Legislation	Marcel Gellings, Kai Jungbluth, Katja Langenbucher	Law and Finance	EU economic and financial services legislation	May 2014
Feb 2012	Constitutional Ruling on Court of Auditors’ Review of Banks	Helmut Siekmann, Patrick Tuschl	Law and Finance	fiscal responsibility, control by Court of Auditors	Feb 2012
Mar 2013	Stellungnahme zu aktuellen Formulierungsvorschlägen für Änderungen am Deutschen Corporate Governance Kodex	Hans-Joachim Böcking, Marius Gros, Daniel Worret	Law and Finance	Deutscher Corporate Governance Kodex, Financial Expert, Prüfungsausschuss, Vorstandsvergütung, Aufsichtsratsvergütung	Mar 2013
Feb 2013	Managementvergütung im Bankensektor	Jan Pieter Krahnen, Thomas Mayer	Law and Finance	Boni, Bail-in Anleihen, Liikanen-Kommission	Feb 2013
Sep 2008	Die gerichtliche Kontrolle von Beschlüssen der Gläubigerversammlung	Theodor Baums	Law and Finance	Gläubigerversammlung	Sep 2008
Jul 2008	Zur monistischen Verfassung der deutschen Aktiengesellschaft. Überlegungen de lege ferenda	Theodor Baums	Law and Finance	Corporate Governance, Unternehmensverfassung	Jul 2008
May 2008	Zur Anfechtung von Hauptversammlungsbeschlüssen - rechtspolitische Vorschläge	Theodor Baums, Florian Drinhausen	Law and Finance	Anfechtungsklage	May 2008
Feb 2008	Stellungnahme zum Referentenentwurf "Risikobegrenzungsgesetz"	Jan Pieter Krahnen	Law and Finance	Corporate Governance, Finanzinnovationen	Feb 2008
Jan 2008	Europäische Modellgesetze im Gesellschaftsrecht	Theodor Baums	Law and Finance	Modellgesellschaftsgesetze	Jan 2008
Sep 2007	Zur Deregulierung des Depotstimmrechts	Theodor Baums	Law and Finance	Depotstimmrecht	Sep 2007
Jun 2007	The Law of Corporate Finance in Europe - an Essay	Theodor Baums	Law and Finance	corporate finance	Jun 2007
Oct 2013	Commentary on ESMA Guidelines on Enforcement of Financial Information	Hans-Joachim Böcking, Marius Gros, Daniel Worret	Law and Finance	Enforcement, ESMA, financial reporting quality, restatements	Oct 2013
Jan 2012	Neues Schuldverschreibungsrecht und Altanleihen	Theodor Baums, Roland Schmidtbleicher	Law and Finance	Collective Action Clauses, Anleihen, Umstrukturierung	Jan 2012
Nov 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	Law and Finance	Abschlussprüfung, Finanzkrise, EU Grünbuch, Konsultationsprozess	Nov 2011
Nov 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	Law and Finance	Audit Policy, Financial Crisis, EU Green Paper, Consultation Process	Nov 2011
Nov 2011	Anfechtungsklagen und Freigabeverfahren. Eine empirische Studie	Theodor Baums, Florian Drinhausen, Astrid Keinath	Law and Finance	Aktionärsrechte, Berufskläger, Anlegerschutz	Nov 2011
Dec 2010	Comment on the European Commission's Green Paper "Audit Policy: Lessons from the Crisis"	Hans-Joachim Böcking, Marius Gros	Law and Finance	audit quality, expectation gap, regulation	Dec 2010
Oct 2010	Unternehmen und Ethik	Theodor Baums	Law and Finance	Rechtsnormen, ethische Normen, Wirtschaftsverfassung	Oct 2010
May 2011	Report of the Reflection Group on the Future of EU Company Law	Theodor Baums	Law and Finance	EU-harmonization, corporate governance, regulation, cross-border mobility	May 2011
Nov 2010	Low Balling, Creeping In und deutsches Übernahmerecht	Theodor Baums	Law and Finance	feindliche Übernahme, Hauptversammlungsmehrheit, Meldepflichten	Nov 2010
Aug 2010	Managerhaftung und Verjährungsfrist	Theodor Baums	Law and Finance	Organhaftungsregeln, Verjährungsfristen	Aug 2010
Jul 2010	Risiko und Risikosteuerung im Aktienrecht	Theodor Baums	Law and Finance	Risikomanagement, Vorstandspflichten	Jul 2010
Jan 2010	Die Unabhängigkeit des Vergütungsberaters	Theodor Baums	Law and Finance	Corporate Governance-Kodex, Vergütungsberater	Jan 2010
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	Law and Finance	Mitbestimmungsrecht	May 2009
Feb 2009	Anschleichen an Übernahmeziele mittels Cash Settled Equity Derivaten - ein Regelungsvorschlag	Theodor Baums	Law and Finance	Unternehmensübernahmen, Equity Swaps	Feb 2009
Jul 2011	Comment on the European Commission's Green Paper "The EU Corporate Governance Framework"	Hans-Joachim Böcking, Marius Gros	Law and Finance	corporate governance, supervisory board, shareholder activism	Jul 2011
Apr 2012	Stellungnahme zu den vom Deutschen Standardisierungsrat vorgeschlagenen Änderungen der Anforderungen an die Konzernlageberichterstattung	Hans-Joachim Böcking, Marius Gros	Law and Finance	Chancen- und Risikoberichterstattung, Strategieberichterstattung, Management Commentary	Apr 2012
Mar 2012	Stellungnahme zu den DCGK-Aenderungsvorschlaegen der Regierungskommission Deutscher Corporate Governance Kodex	Hans-Joachim Böcking, Marius Gros	Law and Finance	Deutscher Corporate Governance Kodex, Prüfungsausschuss, Aufsichtsratsvergütung	Mar 2012
Mar 2013	Legal Aspects of Gender Balance on Corporate Boards in Germany	Katja Langenbucher	Law and Finance	German corporate governance codex, gender equality, German constitutional law	Mar 2013
Nov 2012	Missachtung rechtlicher Vorgaben des AEUV durch die Mitgliedstaaten und die EZB in der Schuldenkrise	Helmut Siekmann	Law and Finance	Bankenkrise, Staatsschuldenkrise, EFSF, ESM, Fiskalpakt	Nov 2012
Sep 2012	Die Legende von der verfassungsrechtlichen Sonderstellung des „anonymen“ Kapitaleigentums	Helmut Siekmann	Law and Finance	Geldeigentum, Anteilseigentum, Gesellschaftsrecht, Verfassungsrecht	Sep 2012
Sep 2012	Früher war nicht alles besser	Theodor Baums	Law and Finance		Sep 2012

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Research Projects

Category	Project	Researcher	Project Duration	Keywords	Project ID	Publication Count
Law and Finance	Gauging the Impact of Related Party Transactions in Europe	Andreas Engert, Tobias Tröger	2020	Related party transactions, Empirical legal studies, law and finance, private benefits of control	173102	1
Law and Finance	Self Deception in Pandemics	Ester Faia, Andreas Fuster, Vincenzo Pezone, Basit Zafar	2020		173101	1
Law and Finance	Training for Temptation - Towards a Cognitive Theory of Corporate Governance	Peter Gollwitzer, Daniel Nikolas Hau, Katja Langenbucher	2019	Corporate governance in financial institutions Regulatory oversight Change of culture in financial institutions Tone from the top Compliance in financial institutions Liability and compliance Group interaction and compliance Behavioural finance Behavioura	21230	1
Law and Finance	Board Gender Diversity and Firm Performance: Evidence from Chinese Firms	Yangming Bao, Martin Götz, Di Lu, Thorsten Schank	2019	Corporate Governance, Firm Performance, Gender Diversity, Human Capital, Cultural Revolution	21232	1
Law and Finance	The Role of Analyst Style in Earnings Conference Calls	Yuma Iwase, Zhuoer Qiu, Bernd Skiera, Simone Wies	2019		21234	1
Law and Finance	The Role of Network Connections for CEO Compensation: Quasi-Experimental Evidence from Changes in Inter-Locking Laws in US and Italy	Ester Faia, Jialei Lu, Maximilian Mayer, Vincenzo Pezone, Yiran Wei	2019	CEO compensation, network connections, Boardex data, quasi-experimental evidence, inter-locking regulation, assortative matching, talents, Nash bargaining.	21229	1
Financial Intermediation, Law and Finance	Foundations of Law and Finance	Rainer Haselmann, Casimiro Antonio Nigro, Tobias Tröger	2018		21291	1
Law and Finance	The Impact of Boni Regulation - A Theoretical Analysis	Roman Inderst	2018	boni, regulation	21217	1
Law and Finance	Economically Rational Corporate Takeovers	Giuliano Curatola, Gustavo Grebler, Tobias Tröger	2018	Corporate Takeover. Market Rule. Equal Opportunity Rule. Equal Treatment of Shareholders. Control Premium. Mandatory Takeover Bid. Tender Offer. Willians Act. 13th Directive. Directive EC/25/2004. Sale of Control. Efficient Portfolio. Modern Portfolio The	21226	1
Law and Finance, Experiment Center	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	1
Law and Finance	Registered Cartels in Austria	Nikolaus Fink, Philipp Schmidt-Dengler, Konrad Stahl, Christine Zulehner	2016		21004	1
Law and Finance	Firm Behavior in E-Commerce	Franz Hackl, Rudolf Winter-Ebmer, Christine Zulehner	2016		21004	1
Law and 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	1
Law and 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	1
Law and Finance	Rent Sharing and Gender Discrimination in Collegiate Athletics	Mario Lackner, Christine Zulehner	2016		21004	1
Financial Intermediation, Law and Finance, Financial Markets, Macro Finance, Experiment Center	Capital Requirements and Financial Stability: Experimental Evidence	Paul Gortner, Baptiste Massenot	2016		21650	1
Law and Finance	Challenges for Competition Law arising from Financial Stability	Pedro Magalhães Batista, Iwona Matylda Grandjean, Brigitte Haar, Casimiro Antonio Nigro, Katharina Pistor	2016	bank regulation, too big to fail, financial stability, bank regulation, model based regulation, bank competition	21600	1
Law and Finance, Systemic Risk Lab	GLawFin – Private Contracts and Systemic Risk	Luca Amorello, Pedro Magalhães Batista, Biljana Biljanovska, Jacob Bonavita, Grygoriy Pustovit, 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
Law and Finance	Executive Compensation and Credit Spread		2014	Compensation Structure, Credit Spread, Risk-Taking, Inside Debt, Business Cycle	11227	1
Law and Finance, Experiment Center	Corruption in the Lab and in the Field: Evidence from a Market for Credence Goods	Markus Kröll	2014	Corruption, economic experiments, India, Milkmen	11228	1
Law and Finance	To Have and to Hold: Trends in Industry Rents for Germany	Markus Gangl	2013	Wage distribution, wage rents, labor market segmentation, industry effects, multilevel modeling, German Socio-Economic Panel, Labour Force Survey, Germany	11225	1
Law and Finance, Transparency Lab	Gendered Network Structures and Careers	Bernard Richter	2013	Professional networks, gender wage gap, executive compensation, social networks, trust	12221	1
Law and Finance, Transparency Lab	Corporate Governance of Financial Institutions – Does say-on-pay matter?	Biljana Biljanovska	2013	Corporate Governance, Financial Institutions, Management Compensation, Moral Hazard, Ownership Structure, Say-on-pay	11224	1

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Current Research Team

Researcher	Position
Adams, Renée	External Researcher, SAFE Fellow
Goldmann, Matthias	Advanced Researcher
Götz, Martin	External Researcher, SAFE Fellow
Haselmann, Rainer	Senior Researcher, SAFE Fellow
Lalanne, Marie	External Researcher
Pezone, Vincenzo	Advanced Researcher
Steuer, Sebastian	Junior Researcher
Tröger, Tobias	Senior Researcher
von Siemens, Ferdinand	External Researcher, SAFE Fellow
Walz, Uwe	Senior Researcher

In this Section:

Bankenstrukturreformen in Deutschland und dem Vereinigten Königreich

From Liberalism to Fascism and Back Again: Law, Politics and the Evolution of Corporate Governance in Germany (1850-1950)

Interdisziplinäre Forschung im Unternehmensrecht – Auf dem Weg zu einer Cognitive Corporate Governance?

Does Say on Pay Matter? Evidence from Germany

Interbank Networks and Backdoor Bailouts: Benefiting from Other Banks’ Government Guarantees

The Financing Dynamics of Newly Founded Firms

The Relational Nature of Employment Dualization: Evidence from Subcontracting Establishments

Registered Cartels in Austria: An Overview

Competition in Treasury Auctions

Lohnbildung und Lohnverteilung

The Law and Finance of Related Party Transactions

Direct and Indirect Risk-Taking Incentives of Inside Debt

Rent-Seeking in Elite Networks

"Comply or Explain" im Spannungsfeld von Law and Finance

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

Incentive-Based Capital Requirements

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

Freedom of Contract and Financial Stability

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)

Performance Benefits of Tight Control

Entrepreneurial Spawning: Experience, Education, and Exit

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

Competition in the Economic Crisis: Analysis of Procurement Auctions

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

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

The Gender Wage Gap in Austria: Eppur si muove!

Corporate Groups – A German’s European Perspective

Media Slant Against Foreign Owners: Downsizing

BaFin (in)dependence – A reform proposal

When and how to unwind COVID-support measures to the banking system?

Plug the gap: Make resolution ready for corona

Der Verlustrücktrag als Mittel der Konjunkturpolitik – Ausweitung des Verlustrücktrags auch auf die Gewerbesteuer erforderlich

Bank capital and the European recovery from the COVID-19 crisis

The Case for Corona Bonds

EU Mapping 2017: Systematic Overview on Economic and Financial Legislation

Fair Retail Banking: How to Prevent Mis-Selling by Banks

Negative Zinsen auf Einlagen – Juristische Hindernisse und ihre wettbewerbspolitischen Auswirkungen

Zur Offenlegung der Bezüge von Sparkassenführungskräften im Internet

EU Mapping: Systematic Overview on Economic and Financial Legislation

Constitutional Ruling on Court of Auditors’ Review of Banks

Stellungnahme zu aktuellen Formulierungsvorschlägen für Änderungen am Deutschen Corporate Governance Kodex

Managementvergütung im Bankensektor

Die gerichtliche Kontrolle von Beschlüssen der Gläubigerversammlung

Zur monistischen Verfassung der deutschen Aktiengesellschaft. Überlegungen de lege ferenda

Zur Anfechtung von Hauptversammlungsbeschlüssen - rechtspolitische Vorschläge

Stellungnahme zum Referentenentwurf "Risikobegrenzungsgesetz"

Europäische Modellgesetze im Gesellschaftsrecht

Zur Deregulierung des Depotstimmrechts

The Law of Corporate Finance in Europe - an Essay

Commentary on ESMA Guidelines on Enforcement of Financial Information

Neues Schuldverschreibungsrecht und Altanleihen

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

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

Anfechtungsklagen und Freigabeverfahren. Eine empirische Studie

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

Unternehmen und Ethik

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

Low Balling, Creeping In und deutsches Übernahmerecht

Managerhaftung und Verjährungsfrist

Risiko und Risikosteuerung im Aktienrecht

Die Unabhängigkeit des Vergütungsberaters

Entwurf einer Regelung zur Mitbestimmungsvereinbarung und zur Größe des mitbestimmten Aufsichtsrats

Anschleichen an Übernahmeziele mittels Cash Settled Equity Derivaten - ein Regelungsvorschlag

Comment on the European Commission's Green Paper "The EU Corporate Governance Framework"

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

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

Legal Aspects of Gender Balance on Corporate Boards in Germany

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

Die Legende von der verfassungsrechtlichen Sonderstellung des „anonymen“ Kapitaleigentums

Früher war nicht alles besser

Gauging the Impact of Related Party Transactions in Europe

Self Deception in Pandemics

Training for Temptation - Towards a Cognitive Theory of Corporate Governance

Board Gender Diversity and Firm Performance: Evidence from Chinese Firms

The Role of Analyst Style in Earnings Conference Calls

The Role of Network Connections for CEO Compensation: Quasi-Experimental Evidence from Changes in Inter-Locking Laws in US and Italy

Foundations of Law and Finance

The Impact of Boni Regulation - A Theoretical Analysis

Economically Rational Corporate Takeovers

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