Summer Term 2022
Matthias Molnar (Vienna University of Economics and Business), 'Are shorts restricted when options are an option? – Evidence from SEC Rule 201' with Rainer Brand and Angel Tengulov
Andreas Neuhierl (Washington University in St. Louis, Engelbert-Dockner Fellow), 'Structural Deep Learning in Conditional Asset Pricing' with Jianqing Fan, Zheng Tracy Ke, and Yuan Liao
Pietro Veronesi (University of Chicago, NBER, and CEPR), 'Self-image Bias and Lost Talent' with Marciano Siniscalchi
Philipp Lentner (Vienna University of Economics and Business), 'Price pressure during central bank asset purchases: Evidence from the covered bond market.'
Rüdiger Weber (WU Vienna), 'Money in the right hands: the price effects of specialized demand' with Aleksandra Rzeźnik
Tobin Hanspal (Vienna University of Economics and Business & VGSF), 'Educating Investors about Dividends' with Andreas Hackethal and Samuel M. Hartzmark
Thomas Dangl (Vienna University of Technology), 'Conservative Holdings, Aggressive Trades: Ambiguity, Learning, and Equilibrium Flows' with Lorenzo Garlappi and Alex Weissensteiner
Giorgio Ottonello (Nova School of Business and Economics), 'Bank connections and firms' access to the bond market' with Emanuele Rizzo and Rafael Zambrana
Larry Blume (Cornell University), 'Network Formation in the Presence of Contagious Risk' with David Easley, Jon Kleinberg, Robert Kleinberg and Éva Tardos
Paul Hübner (UCLA). 'Persistent latent demand and long-horizon stock returns'
Seppo Ikäheimo (Aalto University School of Business), 'Capital flows and short-termism – evidence from European listed companies 1992-2020' with Arttu Lääkkölä and Vesa Puttonen
Maria Kosolapova (Free University of Bozen-Bolzano), 'Estimating Time-Varying Risk Aversion from Option Prices and Realized Returns.'
Rüdiger Weber (Vienna University of Economics and Business & VGSF), 'Equity Duration, Cash-flow Timing and the Term Structure of Equity' with Dominik Walter
Elias Rantapuska (Aalto University School of Business), 'The Banker in Your Social Network' with Samuli Knüpfer and Theresa Spickers
Alfred Lehar (University of Calgary Haskayne School of Business), 'Decentralized Exchanges' with Christine A. Parlour
Winter Term 2021/22
Semyon Malamud (EPF), 'The Virtue of Complexity in Machine Learning Portfolios“ with Bryan Kelly and Kangying Zhou
Roman Goncharenko (KU Leuven), 'When Green Meets Green' with Hans Degryse, Carola Theunisz and Tamas Vadasz
Martin Hellwig (Max Planck Institute, Director (em.)), 'Liquidity Provision and Equity Funding of Banks'
Karol Paludkiewicz (Deutsche Bundesbank), 'You Can't Always Get What You Want (Where You Want It): Cross-Border Effects of the US Money Market Fund Reform' with Daniel Fricke & Stefan Greppmair
Jiri Knesl (Saïd Business School, University of Oxford), 'Working from Home During Covid-19: Corporate Announcements, Market Valuation, and Operating Performance' with Adlai J. Fisher (UBC Sauder School of Business) & Ryan C. Y. Lee (Saïd Business School, University of Oxford)
Summer Term 2021
Semyon Malamud (EPFL), 'Principal Portfolios'
Andreas Neuhierl (Washington University in St. Louise), 'Option Characteristics as Cross-Sectional Predictors'
Özlem Dursun-de Neef (Goethe-Universität Frankfurt am Main), 'How do banks propagate economic shocks?'
Alessandro Melone (VGSF, Vienna University of Economics and Business), 'Consumption and Stock Returns: Levels vs. Growth for Conditional Asset Pricing'
Winter Term 2020/2021
Florian Pauer (WU Wien), 'Sell or Hold? On the Value of Non-Performing Loans and Mandatory Write-Off Rules'
Vesa Pursiainen (University of St. Gallen), 'Stress Testing Banks' Digital Capabilities: Evidence from the COVID-19 Pandemic'
Roberto Pinto (Lancaster University), 'Bargaining and Debt Structure'
Summer Term 2020
Rüdiger Weber (Vienna University of Economics and Business), 'Risk Sharing within and outside the Firm' (with Robert Mahlstedt from the University of Copenhagen)
Michael Weber (The University of Chicago Booth School of Business), 'The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending'
Alfred Lehar (University of Calgary), 'Miner Collusion and the BitCoin Protocol'
John Cotter (University College Dublin), 'Macro-Financial Spillovers'
Seppo Ikäheimo (Aalto University), 'Does CEO IQ improve earnings persistence?'
Daniele D’Arienzo (Bocconi University), 'Increasing Overreaction and Excess Volatility of Long-Term Interest Rates'
William Johnson (Suffolk University / Vienna University of Economics and Business), 'The consequences to directors of deploying poison pills' with Jon Karpoff and Michael Wittry
Winter Term 2019/2020
Lubos Pastor (The University of Chicago Booth School of Business), 'Sustainable Investing in Equilibrium'
Florian Lindner ( Max Planck Institute for Research on Collective Goods), 'Delegated Investment Decisions and Rankings'
Thomas Rauter (The University of Chicago Booth School of Business), 'Perceived Precautionary Savings Motives: Evidence from FinTech'
Lu Li, (LMU Munich), 'Opening up the Black Box: the Impact of Technological Transparency on Self-Protection'
Veronesi Pietro (Chicago Booth), 'Leverage'
Summer Term 2019
Leopold Sögner (IHS), "Optimal High-Risk Investment"
Steven Baker (McIntire School of Commerce, University of Virginia), "Asset Prices and Portfolios with Externalities"
Neal Stoughton, "Discretionary NAVs"
Giuseppe Pratobevera (USI-University Lugano), “The Role of Underwriter-Affiliated Institutional Investors in the IPO Aftermarket"
Jack Stecher (Alberta School of Business), "Coherent Classification and Signaling"
Mrinal Mishra (University of Zurich), "The effect of conflict on lending: Empirical evidence from Indian border areas"
Sanjai Bhagat (University of Colorado), “Corporate Governance and Firm Performance: The Sequel“
Winter Term 2018/2019
Paul Pelzl (VU Amsterdam & Tinbergen Institute), "Capital Regulations and Credit Line Management during Crisis Times"
Olga Kuzmina (New Economic School), "Innovation and the Structure of Employment Contracts"
Aleksandra Rzeznik (WU Vienna), "Informed Trading and Co-Illiquidity" (with Søren Hvidkjær and Massimo Massa)
Peter Zweifel (ETH Zurich), "Long-term care insurance: joint contracts for mitigating relational moral hazard"
Carlos Ramirez (Board of Governors of the Federal Reserve System), "Regulating Complex Financial Networks "
Summer Term 2018
Artashes Karapety (BI Norwegian Business School), "To Ask or Not To Ask? Collateral versus Screening in Lending Relationships"
Youchang Wu (Lundquist College of Business), "Production Networks and Stock Returns: The Role of Creative Destruction"
Roberto Steri (HEC Lausanne), "Stressed Banks"
Giorgia Simion (Ca' Foscari University of Venice), "Basel Liquidity Regulation and Credit Risk Market Perception: Evidence from Large European Banks"
Julia Reynolds (Università della Svizzera italiana Institute of Finance), "The Impact of Trade-Through Prohibition on Liquidity Commonality"
Maurizio Montone (Erasmus School of Economics and Tinbergen Institute), "Does the U.S. President affect the stock market?"
Sven Klinger (Norwegian Business School), "Active Loan Trading"
Hamed Ghoddusi (Stevens Institute of Technology), "Mortgage Interest Tax Deductibility under Uncertainty" (joint with Mohamad Afkhami (Stevens Institute of Technology)
Winter Term 2017/2018
Raman Uppal (EDHEC Business School – Lille), "A Portfolio Perspective on the Multitude of Firm Characteristics" (joint with Victor DeMiguel, Alberto Martín-Utrera, Francisco J.Nogales)
Maria Chaderina (WU), "Why do mutual funds hold cash?”, co-authored with Christoph Scheuch
Lasse H. Pedersen (Copenhagen Business School), "Efficiently Inefficient Markets for Assets and Asset Management"
Summer Term 2017
Julian Kolm (WU) Titel: "Staggered Debt, Banks' Liquidity, and its Regulation"
Philipp Illeditsch (Wharton School of the University of Pennsylvania) Title: "Disagreement about Inflation and the Yield Curve" (with Paul Ehling, Michael Gallmeyer, and Christian Heyerdahl-Larsen)
Yuri Tserlukevich (Arizona State University) Titel: "Embracing Risk: Hedging Policy for Firms with Real Options" (with Ilona Babenko)
Nathan Foley-Fisher (Board of Governors of the Federal Reserve System) "Over-the-Counter Market Liquidity and Securities Lending" (joint with Stefan Gissler and Stéphane Verani)
Toni Whited (University of Michigan's Ross School of Business) Title: The Interest Sensitivity of Corporate Cash (with Xiaodan Gao and Na Zhang)
Leopold Sögner (Institute for Advanced Studies, IHS) "Making Parametric Portfolio Policies Work" (joint with Thomas Gehrig and Arne Westerkamp)
Lubos Pastor (Chicago Booth School of Business) "Political Cycles and Stock Returns" (joint with Pietro Veronesi)
Amir Rubin (Beedie School of Business) "Lured by the Consensus: Pricing Implications of Treating All Analysts as Equal" (joint with Roni Michaely, Dan Segal and Alexander Vedrashko).
Katarina Lucivjanska (Pavol Jozef Safarik University) "Optimal Granularity for Portfolio Choice" (joint with Nicole Branger and Alex Weissensteiner)
Doron Avramov (The Jerusalem School f Business Administration) "Bonds, Stocks, and Sources of Mispricing”
Thomas Rauter (WU) "Real Effects of Mandatory Disclosure"
Winter Term 2016/2017
Salvatore Miglietta (BI Norwegian School of Management) "Why Do Boards Exist? Governance Design in the Absence of Corporate Law"
Stewart C. Myers (Massachusetts Institute of Technology) "Real Options, Taxes and Leverage" joint with A. Read, Jr.
Aleksandra Rzeznik (WU) “Local Economic Conditions and Local Equity Preferences: Evidence from Mutual Funds during the U.S. Housing Boom and Bust”
Peter Gruber (University of Lugano) " The Price of the Smile and Variance Risk Premia" (joint with Claudio Tebaldi and Fabio Trojani)
Summer Term 2016
Felix Meschke (University of Kansas - School of Business) "Internal CEO Approval and External Reporting Quality" (joint with Minjie, Huang Adi Masli, James P. Guthrie )
Eliezer Fich (Drexel University - LeBow College of Business) "Advertising, Attention, and Acquisition Returns" (joint with Laura T. Starks, Anh L. T
David Brown (University of Arizona - Eller, Department of Finance) "The Price is Wrong: Mispricing and ETF Arbitrage"
Christian Laux (WU) "Procyclicality of US Bank Leverage" (joint with Thomas Rauter)
Toni Whited (University of Michigan) "Capital Structure Misallocation" (joint with Jake Zhao)
Otto Randl (WU), Georg Cejnek "Dividend Risk Premia"
Winter Term 2015/2016
Harald Hau (Swiss Finance Institute) "Technological Progress and Ownership Structure" (jointly with Heng Geng and Sandy Lai)
Mike Mariathasan (KU Leuven) "Fire Sale Bank Recapitalizations" (jointly with Christoph Bertsch)
Summer Term 2015
Igor Salitskiy (WU) "CEO Compensation Maturity and Corporate Actions"
Igor Salitskiy (WU) "Costs of being off target" (joint with Josef Zechner)
Anton van Boxtel (IHS) "Credit Market Competition and Liquidity Provision"
Maria Chaderina (WU) "Covenants, Systemic Risk and Discretion in Credit-Line Contracts: Theory and Evidence." (joint with Angel Tengulov)
Toni Whited (University of Rochester) "Labor and Capital Dynamics under Financing Frictions" (joint with Ryan Michaels, T. Beau Page)
Josef Zechner (WU) "Low Risk Anomalies?" jointly with Paul Schneider (University of Lugano) and Christian Wagner (Copenhagen Business School)
Ramin Baghai (Swedish House of Finance) "Non-Rating Revenue and Conflicts of Interest" (jointly with Bo Becker)
Loriana Pelizzon (Goethe University Frankfurt) “Network Connectivity and Systematic Risk” (jointly with Billio, Caporin and Panzica)
Winter Term 2014/2015
Ryan Williams (Eller College of Management) "Risk Management and Distress: Hedging with Purchase Obligations" (jointly with Kristine Watson Hankins)
Leonidas Barbopoulos (University of St. Andrews) "Does it pay to pay later? Deferred payments in domestic vs. foreign acquisitions"
Doron Avramov (The Jerusalem School of Business) "The Idiosyncratic Volatility-Expected Return Relation: Reconciling the Conflicting Evidence"
Doug Foster (University of Technology, Sydney) “Designing and Managing Retirement Savings Defaults: An Evolutionary Process” (joint with Adam Butt, Scott Donald, Susan Thorp, and Geoff Warren)
Kose John (NYU Stern School of Business) "Institutions and Incentives to innovate: Economic Growth and Optimal Regulation"
Josef Zechner (WU) “Policy Portfolios When Some Assets are Non-Tradable”
Summer Term 2014
Andra Ghent (Arizona State University)“When Low Standards are a Winning Strategy: How Credit Rating Agencies Compete” (co-authored with Sean Flynn)
Eberhard Mayerhofer (Dublin City University)"The Limits of Leverage“
Lubomir Litov (University of Arizona)
Winter Term 2013/2014
Christian Laux (WU): "Internal Auditing and Capital Structure“ (Christian Laux, Gyöngyi Loránth and Alan D. Morrison)
Andrej Gill (Goethe Universität Frankfurt): Why do so many VC-backed IPOs end up in takeovers?"
Nandu NAYAR (Lehigh University): Elimination of discretionary broker voting for directors - A natural experiment
Christian Wagner (Copenhagen Business School): The Cross-Section of Credit, Variance, and Skew Risk (with Paul Schneider and Josef Zechner)
Summer Term 2013
Philipp Immenkötter (University of Cologne): How Much is too Much? Debt Capacity and Financial Flexibility
Youchang WU (University of Wisconsin), Russ Wermers and Josef Zechner (WU): Managerial Rents vs. Shareholder Value in Delegated Portfolio Management: The Case of Closed-End Funds
Toni Whited (University of Rochester): Estimating the Effects of Contracting Frictions (with Shaojin Li)
Sarah Zhang (Universität Karlsruhe): Need for Speed: An Empirical Analysis of Hard and Soft Information in a High Frequency World
Alex Weissensteiner (Denmark University of Technology): On the relation between forecast precision and trading profitability of financial analysts (with Carlo Marinelli)
Rudi Zagst (Technische Universität München): Closed-form solutions for Guaranteed Minimum Accumulation Benefits
James Garven (Baylor University), Neil A. Doherty and Sven Sinclair: Noise Hedging and Executive Compensation
Winter Term 2012/2013
Tobias Mühlhofer (Indiana): Do Stock Prices Move too Much to be Justified by Changes in Cash Flows? New Evidence from Parallel Asset Markets
Christian Laux (WU Wien): Why trading and lending differ
Simon Gervais (Duke): The Industrial Organization of Money Management
Michael Kisser (NHH): The Impact of Longevity Improvements on US Corporate Defined Benefit (DB) Pension Plans
Ramona Westermann (Swiss Finance Institute): Measuring agency costs over the business cycle
Tyler Hull (NHH): Does the Timing of Dividend Reductions Signal Value?
Jaewon Choi (Urbana-Champaign): On the fundamental relation between equity returns and interest rates
Olga Lebedeva (Warwick): Trading Aggressiveness and its Implications for Market Efficiency
Yuliya Plyakha (Frankfurt): Much Ado about Nothing: Benchmarking Benchmarks
Maria Chaderina (Vienna): The Pre-Borrowing Motive: A Model of Coexistent Debt and Cash
Alfred Lehar (Calgary): Indurstry Structure and the Strategic Provision of Trade Credit by Upstream Firms
Hamed Ghoddusi, (MIT): Entry Dynamics and Cross-Section of Asset Prices
Engelbert Dockner (WU Wien), Manuel Mayer (VGSF) and Josef Zechner (WU Wien): Sovereign Bond Risk Premiums
Otto Randl (WU) and Georg Cejnek (ISK): Implications of Index Construction Methodologies for Price and Dividend Indices
Summer Term 2012
Aleksandar Zdravkovic: Risk Management Approach to Public Debt Sustainability In Emerging European Countries
Dieter Hess (Cologne): Common Factors in Analysts' Earnings Revisions: The Role of Changing Economic Conditions
Ruediger Fahlenbrach (EPFL): Institutional Investors and Mutual Fund Governance: Evidence from Retail – Institutional Fund Twins
George Skiadopoulos (Piraeus): Asset pricing for commodity futures: A puzzle
Andrea Gamba (Warwick Business School): Firm Policies and the Cross-Section of CDS Spreads
Alexandre Jeanneret (HEC Montreal): Sovereign Default Risk and the US Equity Market
Hamed Ghoddusi (MIT): Optimal Choice of Corrective Actions
Philipp Immenkötter (Cologne): How much is too much? Debt Capacity and Financial Flexibility
Julian Kolm (VGSE): Bank Risk Taking with Securitization and Capital Regulation
Enrico Diecidue (INSEAD): Risking time is like risking money for the representative individual. You are not representative
Valentyn Panchenko (UNSW): Continuous double auction with full and limited information: experiments and individual learning model
Winter Term 2011/2012
Pietro Perotti (Uni Graz): Earnings Quality Measures and Excess Returns
Bjorn Eraker (Wisconsin): Dynamic Present Values and the Intertemporal CAPM
Jan Bena (UBC): The Lifecycle of the Economy-Wide Distribution of Leverage.
Manfred Frühwirth (WU) and Leopold Sögner (IHS): Does the Sun Shine on the Corporate Bond Market?
Anna Gunnthorsdottir (WU): The predictive boundaries of the Nash equilibrium, and efficiency gains from merit-based social organization
Summer Term 2011
Miret Padovani (Geneva) : The determinants of banks' lobbying activities.
Robert Kremslehner (WU): Job Market for Directors: The Role of Limited Liability Provisions and Directors' and Officers' Insurance in Optimal Contracting.
Yong Chen (Virginia Tech): Hedge Funds: The Good, the (Not-so) Bad, and the Ugly.
Luis Goncalves-Pinto (NUS): The Value of Cross-Trading to Mutual Fund Families in Illiquid Markets: A Portfolio Choice Approach.
Aksel Mjøs (NHH): Small firm finance during the financial crisis.
Christian Wagner (WU): The Cross-Section of Credit Risk Premia and Equity Returns.
Stephen Figlewski (NYU): Research on the Risk Neutral Probability Density for the US Market Portfolio.
Hamed Ghoddusi (VGSF): Business Cycles, Long-Run Risk and Commodity Price Dynamics.
Tiago Pinheiro (NHH Bergen): Earnings Manipulation, Managerial Compensation and Reputation Concerns.
Winter Term 2010/2011
Hamed Ghoddusi (VGSF): How the Shocks to Input and Output Change the Spreads and Asset Value; The Case of the Refinery Industry
Vilimir Yordanov (VGSF): Dynamic CDO modelling
Thomas Breuer (FHV): Stress Tests: From Arts to Science
Antonio Diaz: The Problem of Estimating the Volatility of Zero Coupon Bond Interest Rate
Greg Vilkov (Goethe University Frankfurt): Risk-Neutral Skewness: Return Predictability and Its Sources
Tobias Berg (HU Berlin): The Term Structure of Risk Premia during the Financial Crisis: Evidence from a New Calibration Approach based on CDS Spreads.
Paul Schneider (Warwick): Understanding Risk Premia in Index Option Prices.
Summer Term 2010
Jun 14 Natalia Ivanova (VGSF)
May 19 Zsuzsanna Fluck (Michigan State University)
Apr 20 Rodolfo Martell (Purdue University - Krannert School of Management
Winter Term 2009/2010
Dec 16 André Gygax (University of Melbourne)
Dec 02 Lidija Lovreta (ESADE Business School)
Oct 28 André Gygax (University of Melbourne)
Feb 03 Juliusz Radwanski (VGSF)
Summer Term 2009
Jun 10 Robert Faff (Monash University)
Jun 03 Emir Hrnjic (National University of Singapore)
May 27 Marti Subrahmanyam (New York University)
May 20 László Györfi (Budapest University of Technology and Economics)
May 07 Alfred Lehar (University of Calgary) - former CCEFM student
Apr 29 Paul Schneider and Christian Wagner (WU)