Frontaler Blick auf das D4 Gebäude.

Publications

REFEREED JOURNALS
Marco Pagano, Christian Wagner, and Josef Zechner "Disaster Resilience and Asset Prices", Journal of Financial Economics, forthcoming 2023
Otto Randl, Arne Westerkamp and Josef Zechner "Equilibrium Policy Portfolios When Some Investors are Restricted from Holding Certain Assets", China Finance Review International, 13 (1), 2023, pp. 1-22.
Marco Pagano and Josef Zechner "COVID-19 and Corporate Finance", The Review of Corporate Finance Studies, 11(4), 2022, pp. 849-879.
Maria Chaderina, Patrick Weiss, and Josef Zechner "The Maturity Premium", Journal of Financial Economics, 144 (2), 2022, pp. 670-694.
Georg Cejnek, Otto Randl, and Josef Zechner "The COVID-19 Pandemic and Corporate Dividend Policy", The Journal of Financial and Quantitative Analysis , 56 (7), 2021, pp. 2389-2410.
Thomas Dangl and Josef Zechner, “Debt Maturity and the Dynamics of Leverage”, The Review of Financial Studies, 34 (12), 2021, pp. 5796–5840.
Jaewon Choi, Dirk Hackbarth, and Josef Zechner "Granularity of Corporate Debt", The Journal of Financial and Quantitative Analysis, 56 (4), 2021, pp. 1127-1162.  Winner of the Sharpe Award for the best paper published in the 2021 volume of the JFQA
Matthias M. M. Buehlmaier and Josef Zechner, "Financial Media, Price Discovery, and Merger Arbitrage", The Review of Finance, 25 (4), 2020, pp. 997-1046.
Michael Halling, Jin Yu, and Josef Zechner "How Did COVID-19 Affect Firms' Access to Capital Markets?", The Review of Corporate Finance Studies, 9 (3), 2020, pp. 501-533.
Paul Schneider, Christian Wager, and Josef Zechner "Low Risk Anomalies?", The Journal of Finance, 75 (5), 2020, pp. 2673-2718.  Top Cited Article 2020-2021 in the Journal of Finance by Wiley
Stephan Kranner, Neal Stoughton, and Josef Zechner “Lessons Learned from Student Managed Portfolios”, Journal of Investment Management, 17 (1), 2019, pp. 46-76.
Jaewon Choi, Dirk Hackbarth, and Josef Zechner "Corporate Debt Maturity Profiles", The Journal of Financial Economics, 130 (3), 2018, pp.484-502.
Otto Randl, Josef Zechner, “Sovereign Reputation and Yield Spreads: A Case Study on Retroactive Legislation”, German Economic Review, 19, 2017, pp.260-279.
Russ Wermers, Youchang Wu, and Josef Zechner, "Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds", The Review of Financial Studies, 29 (12), 2016, pp. 3428-3470.
Michael Halling, Jin Yu, and Josef Zechner, "Leverage Dynamics over the Business Cycle",  The Journal of Financial Economics, 122 (1), 2016, pp. 21-41.
Klaus Gugler, Natalia Ivanova, and Josef Zechner, „Ownership and Control in Central and Eastern Europe”, Journal of Corporate Finance, 26, 2014, pp. 145–163.
Nils Friewald, Christian Wagner, and Josef Zechner, “The Cross-Section of Credit Risk Premia and Equity Returns”, The Journal of Finance, 69 (6), 2014, pp. 2419-2470.
Christopher A. Hennessy and Josef Zechner, “A Theory of Debt Market Illiquidity and Leverage Cyclicality”, The Review of Financial Studies, 24 (10), 2011, pp. 3369-3400.
Neal Stoughton, Youchang Wu and Josef Zechner, “Intermediated Investment Management’’, The Journal of Finance, 66 (3), 2011, pp. 947-980.
Jonathan Berk, Richard Stanton and Josef Zechner, “Human Capital, Bankruptcy and Capital Structure”, The Journal of Finance, 65 (3), 2010, pp. 891-92.
Thomas Dangl, Youchang Wu and Josef Zechner, "Market Discipline and Internal Governance in the Mutual Fund Industry", The Review of Financial Studies, 21 (5), 2008, pp. 2307-2343.
Josef Zechner "Börsennotierungen: Warum und wo? Evidenz aus Theorie und Empirie", Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, 60, 2008, pp. 195-210.Paper presented at the award ceremony for honorary doctoral degree at Ludwig-Maximilians-Universität, Munich
Michael Halling, Marco Pagano, Otto Randl and Josef Zechner, "Where Is the Market? Evidence from Cross-Listings in the United States", The Review of Financial Studies, 21 (2), 2008, pp. 725-761.
Neal Stoughton and Josef Zechner, "Optimal Capital Allocation using RAROC and EVA", Journal of Financial Intermediation, 16 (3), 2007, pp. 312-342.
Thomas Dangl and Josef Zechner, "Credit Risk and Dynamic Capital Structure Choice", Journal of Financial Intermediation, 13 (2), 2004, pp. 183-204.
Marco Pagano, Ailsa A. Röell and Josef Zechner, "The Geography of Equity Listing: Why Do Companies List Abroad?", The Journal of Finance, 57 (6), 2002, pp. 2651-2694.
Sudipto Bhattacharya, Manfred Plank, Günter Strobl and Josef Zechner, "Bank Capital Regulation With Random Audits", Journal of Economic Dynamics and Control, 26 (7-8), 2002, pp. 1301-1321.
Robert Heinkel, Alan Kraus and Josef Zechner, "The Effect of Green Investment on Corporate Behaviour", Journal of Financial and Quantitative Analysis, 36 (4), 2001, pp. 431-449.
Marco Pagano, Otto Randl, Ailsa Röell and Josef Zechner, "What Makes Stock Exchanges Succeed? Evidence from Cross-Listing Decisions", European Economic Review, 45 (4-6), 2001, pp. 770-782.
Neal Stoughton, Kit Pong Wong and Josef Zechner, "IPOs and Product Quality", The Journal of Business, 74 (3), 2001, pp. 375-408.
Klaus Gugler, Alex Stomper and Josef Zechner, "Ownership- and Board-Structures in Austria", ZfB-Ergänzungsheft, 1, 2000, pp. 23-43.
Vojislav Maksimovic, Alexander Stomper and Josef Zechner, "Capital Structure, Information Acquisition and Investment Decisions in an Industry Framework", European Finance Review, 2 (3), 1999, pp. 251-271.
Neal Stoughton and Josef Zechner, "IPO-Mechanisms, Monitoring and Ownership Structure", Journal of Financial Economics, 49 (1), 1998, pp. 45-77.
Josef Zechner, "Comment on 'Monitoring, Implicit Contracting, and the Lack of Permanence of Leveraged Buyouts’", European Finance Review, 1 (2), 1997, pp. 165-168.
Josef Zechner, "Financial Market - Product Market Interactions in Industry Equilibrium: Implications for Information Acquistion Decisions", European Economic Review, 40 (3-5), 1996, pp. 883-896.
Gerhard Ortner, Adolf Stepan and Josef Zechner, "Political Stock Markets, The Austrian Experiences", Zeitschrift für Betriebswirtschaft, Ergänzungsheft 4, 1995, pp. 123-136.
Anat R. Admati, Paul Pfleiderer and Josef Zechner, "Large Shareholder Activism, Risk Sharing, and Financial Market Equilibrium", The Journal of Political Economy, 102, 1994, pp. 1097-1130.
Robert Heinkel and Josef Zechner, "Financial Distress and Optimal Capital Structure Adjustments", Journal of Economics and Manangement Strategy, 2, 1993, pp. 531-565.
Laurie Bagwell and Josef Zechner, "Influence Costs and Capital Structure", The Journal of Finance, 48, 1993, pp. 975-1008.
Vojislav Maksimovic and Josef Zechner, "Debt, Agency Costs and Industry Equilibrium", The Journal of Finance, 46, 1991, pp. 1619-1643.
Edwin O. Fischer and Josef Zechner, "Die Lösung des Risikoanreizproblems durch die Ausgabe von Optionsanleihen", Zeitschrift für betriebliche Forschung, 42, 1990, pp. 334-342.
Josef Zechner, "Tax Clienteles and Optimal Capital Structure under Uncertainty", The Journal of Business, 63, 1990, pp. 465-491.
Robert Heinkel and Josef Zechner, "The Role of Debt and Preferred Stock as a Solution to Adverse Investment Incentives", Journal of Financial and Quantitative Analysis, 25, 1990, pp. 1-24.
Edwin O. Fischer, Robert Heinkel and Josef Zechner, "Dynamic Recapitalization Policies and the Role of Call Premia and Issue Discounts", Journal of Financial and Quantitative Analysis, 24, 1989, pp. 427-446.
Vojislav Maksimovic, Gordon Sick and Josef Zechner, "Comment on Forward Markets, Stock Markets and the Theory of the Firm", The Journal of Finance, 44, 1989, pp. 525-528.
Edwin O. Fischer, Robert Heinkel and Josef Zechner, "Dynamic Capital Structure Choice: Theory and Tests", The Journal of Finance, 44, 1989, pp. 19-40.
Ronald Giammarino, Eduardo Schwartz and Josef Zechner, "Market Valuation of Bank Assets and Deposit Insurance in Canada", Canadian Journal of Economics, 22, 1989, pp. 109-127.
Michael J. Brennan, Vojislav Maksimovic and Josef Zechner, "Vendor Financing", The Journal of Finance, 43, 1988, 1127-1141.
Peter Swoboda and Josef Zechner, "The Critical Implicit Tax Rate and Capital Structure", Journal of Banking and Finance, 10, 1986, pp. 327-341.
Peter Swoboda and Josef Zechner, "Unternehmenssteuerung und Risikokapitalbildung", Betriebswirtschaftliche Forschung and Praxis, 5, 1985, pp. 403-420.
Moon Lee and Josef Zechner, "Debt Taxes and International Equilibrium", Journal of International Money and Finance, 3 (3), 1984, pp. 345-357.
WORKING PAPERS
Youchang Wu and Josef Zechner, "Political Preferences and Financial Market Equilibrium” SSRN Working Paper Series 4645132
Thomas Dangl, Michael Halling, Jin Yu, and Josef Zechner, "Stochastic Social Preferences and Corporate Investment Decisions", SSRN Working Paper Series 4479486, 2023
Thomas Dangl, Michael Halling, Jin Yu, and Josef Zechner, "Social Preferences and Corporate Investment", SSRN Working Paper Series 4470567, 2023
Andreas Neuhierl, Otto Randl, Christoph Reschenhofer and Josef Zechner, "Timing the Factor Zoo", SSRN Working Paper Series 4376898, 2023
Alessandro Melone, Otto Randl, Leopold Sögner and Josef Zechner, "Stock-Oil Comovement: Fundamentals or Financialization?", SSRN Working Paper Series 4205724, 2022
Otto Randl, Giorgia Simion, and Josef Zechner, “Pricing and Constructing International Government Bond Portfolios”, SSRN Working Paper Series 4021429, 2022
Michael Halling, Jin Yu, and Josef Zechner, "Primary Corporate Bond Markets and Social Responsibility", SSRN Working Paper Series 3681666, 2021
Angel Tengulov, Josef Zechner, and Jeff Zwiebel, "Valuation and Long-Term Growth Expectations", SSRN Working Paper Series 3488902, 2022
Michael Halling, Jin Yu, and Josef Zechner, "The Dynamics of Corporate Debt Structure", SSRN Working Paper Series 3488471, 2022
Johann Reindl, Neal Stoughton, and Josef Zechner, "Market Implied Costs of Bankruptcy", SSRN Working Paper Series 2324097, 2017
Neal Stoughton and Josef Zechner, “The Dynamics of Capital Allocation”. SSRN Working Paper Series 249987, 2000
BOOK CHAPTER
Thomas Dangl, Otto Randl, and Josef Zechner,  2015. Risk Control in Asset Management: Motives and Concepts. In: Innovations in Quantitative Risk Management, Hrsg. Glau, Kathrin, Scherer, Matthias, Zagst, Rudi, 239-266. Cham Heidelberg New York Dordrecht London: Springer.
Josef Zechner, "Aspekte der aktuellen Corporate Finance Diskussion: Konflikte und Lösungen zwischen Mehrheits- und Minderheitsgesellschaftern", Susanne Kalss and Peter Doralt (editors), Franz Klein "Vorreiter des modernen Aktien- und GmbH-Rechts", Manzsche Verlags- und Universitätsbuchhandlung, 2004, pp. 75-91.
Neal Stoughton and Josef Zechner, "Konzepte zur Risiko-Ertragssteuerung in Kreditinstituten", Handbuch Risikomanagement, 2, Uhlenbruch Verlag, 2000, pp. 879-902.
Josef Zechner, "Die Struktur der Kapitaladäquanzrichtlinie und resultierende Umsetzungsprobleme", P. Harold (editor), Kapitaladäquanz im BWG, 1997, pp. 44-59.
Peter Swoboda and Josef Zechner, "Financial Structure and the Tax System", R. Jarrow, V. Maksimovic, and B. Ziemba (editors), Handbooks in Operations Research and Management Science, Elsevier Science Publishers, 1995, pp. 767-790.
Vojislav Maksimovic and Josef Zechner, "Vendor Financing", The New Palgrave Dictionary of Money and Finance, 1992, pp. 759-761.
Maurice Levi and Josef Zechner, "Foreign Currency Exposure", R. Aliber (editor), Handbook of International Financial Management, Dow Jones Irwin, 1989, pp. 411-443.
Josef Zechner, "Corporate and Personal Income Taxes and Optimal Capital Structure", H. Göppl and R. Henn (editors), Geld, Banken und Versicherungen, Band II, 1984, pp. 1169-1173.
Edwin O. Fischer and Josef Zechner, "Diffusion Process Specifications for Interest Rates", G. Bamberg and K. Spremann (editors), Lecture Notes in Economics and Mathematical Systems, Vol. 227. Risk and Capital, Springer Verlag, Berlin Heidelberg, 1984, pp. 64-73.
ARTICLES IN PROCEEDINGS
Edwin O. Fischer and Josef Zechner, „Diffusion Process Specifications for Interest Rates“, Lecture Notes in Economics and Mathematical Systems, Vol.227. Risk and Capital. Hrsg. G. Bamberg and K. Spremann. Springer Verlag, Berlin Heidelberg, 1984, pp. 64-73.
Josef Zechner, “Technological Change and Firms´ Choice of Stock Markets”, Das Neue Millenium – Zeit für ein neues ökonomisches Paradigma?”, 28. Volkswirtschaftliche Tagung 2000, pp. 164-171.
Klaus Gugler, Susanne Kalss, Alexander Stomper and Josef Zechner, „The Separation of Ownership and Control in Austria“, in „The Control of Corporate Europe“, Editors: Fabricio Barca and Marco Becht, Oxford University Press, 2001.
MONOGRAPHS
Peter Swoboda, Adolf Stepan und Josef Zechner „Kostenrechnung und Preispolitik“ 21., erweiterte Auflage, Linde Verlag Wien, 2001.
Josef Zechner, „Der Einfluß von Steuern auf die optimale Kapitalstuktur vonUnternehmungen“, Österreichische Akademie der Wissenschaften, Wien, 1989.