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Finance Seminars

Frankfurt School’s Finance Research Seminars provide a forum for researchers of all disciplines to present and discuss their research. They usually take place on Wednesdays from 11:30 a.m. to 1:00 p.m. during the semester. Before or after the talk there is the opportunity to meet and exchange with members of the faculty in individual discussions.

We would like to thank the Interessengemeinschaft Frankfurter Kreditinstitute for their generous support of this series of talks.

We would like to thank the Interessengemeinschaft Frankfurter Kreditinstitute for their generous support of this series of talks.

External guests are welcome to attend! In case of interest, you may subscribe via e-mail in order to get invitations for our research seminar and other events.

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Past Finance Seminars

21.6.17
Ivo Welch (UCLA Anderson School of Management)
“Leverage- and Cash-Based Tests of Risk and Reward with Improved Identification”

19.6.17
Michael Halling (Stockholm School of Economics)
“Up the stairs down the elevator: valuation ratios and shape predictability in the distribution of stock returns” (jointly Paolo Giordani)

14.06.17
Georgy Chabakauri (London School of Economics)
“Capital Requirements and Asset Prices” (jointly Brandon Yueyang Han)

31.05.17
Steven Ongena (University of Zurich)
“Sorry, Were Closed Loan Conditions When Bank Branches Close and Firms Transfer to another Bank” (jointly Diana Bonfim and Gil Nogueira)

24.05.17
Heitor Almeida (College of Business, University of Illinois)
“The Impact of Obamacare on Firm Employment and Performance” (jointly Ruidi Huang, Ping Liu and Yuhai Xuan)

17.05.17
Morten Sorensen (Copenhagen Business School)
“Are CEOs Different? Characteristics of Top Managers” (jointly Steven N. Kaplan)

16.05.17
Kai Li (Sauder School of Business, University of British Columbia)
“Stakeholder Orientation and the Cost of Debt: Evidence from a Natural Experiment” (jointly Huasheng Gao and Yujing Ma)

10.05.17
Patrick Verwijmeren (Erasmus School of Economics, Erasmus University Rotterdam)
“The external financing of investment” (jointly Bruce D. Grundy)

03.05.17
Ron Kaniel (Simon School of Business, University of Rochester)
“Relative Pay for Non-Relative Performance: Keeping up with the Joneses with Optimal Contracts” (jointly Peter M. DeMarzo)

26.04.17
Zhiguo He (The University of Chicago, Booth School of Business)
“Leverage Dynamics without Commitment” (jointly Peter DeMarzo)

19.04.17
Ralph De Haas (European Bank for Reconstruction and Development)
“The Limits of Lending? Banks and Technology Adoption Across Russia” (jointly Cagatay Bircan)

12.04.17
Adrian Buss (Insead)
“The Dynamic Properties of Financial-Market Equilibrium with Trading Fees” (jointly Bernard Dumas)

05.04.17
S. Viswanathan (Duke University, Fuqua School of Business)
“Financial Intermediary Capital” (jointly Adriano A. Rampini)

15.03.17
Tarek A. Hassan (The University of Chicago, Booth School of Business)
“Currency Manipulation” (jointly Thomas M. Mertens and Tony Zhang)

08.03.17
Thorsten Beck (Cass Business School City, University of London)
“Bank sectoral concentration and (systemic) risk: Evidence from a worldwide sample of Banks” (jointly Oliver De Jonghe and Klaas Mulier)

01.03.17
Clemens A. Otto (HEC Paris)
“Hold-up and Investment: Empirical Evidence from Tariff Changes” (jointly Thorsten Martin)

25.01.17
Ekkehart Boehmer (Singapore Management University)
"Tracking Retail Investor Activity” (jointly Charles M. Jones and Xiaoyang Zhang)

21.12.16
Martin Szydlowski (Carson School of Management, University of Minnesota)
"The Market for Conflicted Advice” (jointly Briana Chang)

14.12.16
Viktor Torodov (Kellogg School of Management, Northwestern University)
"The Pricing of Tail Risk and the Equity Premium: Evidence from International Option Markets?” (jointly with Torben G. Andersen und Nicola Fusari)

07.12.16
Alon Brav (Duke University, The Fuqua School of Business)
"How Does Hedge Fund Activism Reshape Corporate Innovation?” (jointly with Wei Jiang, Song Ma and Xuan Tian)

30.11.16
Sascha Steffen (University of Mannheim)
"The Zero Risk Fallacy – Banks Sovereign Exposure and Sovereign Risk Spillovers" (jointly with Karolin Kirschenmann und Josef Korte)

23.11.16
William Mann (UCLA Anderson School of Management)
“Collateral constraints, wealth effects, and volatility: evidence from real estate markets” (jointly with Barney Hartman-Glaser)

16.11.16
Emanuel Moench (Deutsche Bundesbank)
“Reach for Yield in Investment Funds” (jointly with Alexandru Barbu and Christoph Fricke)

10.11.16
Philippe Mueller (London School of Economics and Political Science)
“International Illiquidity” (jointly with Aytek Malkhozov, Andrea Vedolin and Gyuri Venter)

09.11.16
Andrey Malenko (MIT Sloan School of Management)
“Proxy Advisory Firms: The Economics of Selling Information to Voters” (jointly with Nadya Malenko)

02.11.16
Laura Starks (McCombs School of Business, University of Texas at Austin)
“Economic Policy Uncertainty, Learning and Incentives: Theory and Evidence on Mutual Funds"(jointly with Sophia Yue Sun)

26.10.16
Liyang Yang (Rotman School of Management, University of Toronto)
“A Model of Costly Interpretation of Asset Prices"(jointly with Xavier Vives)

24.10.16
Martin Schmalz (University of Michigan’s Ross School of Business)
"Common Ownership, Competition, and Top Management Incentives” (jointly Miguel Anton, Florian Ederer and Mireia Gine)

19.10.16
Ulf Axelson (London School of Economics and Political Science)
"Informational Black Holes" (jointly with Igor Makarov)

12.10.16
Daniel Paravisini (London School of Economics and Political Science)
“Adverse Selection on Maturity: Evidence from Online Consumer Credit "(jointly with Andrew Hertzberg and Andres Liberman)

05.10.16
Merih Sevilir (Kelley School of Business)
“Learning Across Peer Firms and Innovation Waves”

28.09.16
Kelly Shue (University of Chicago)
“Consistent Good News and Inconsistent Bad News” (jointly with Rick Harbaugh and John Maxwell)

14.09.16
Vasso Ioannidou (Lancaster University)
“When Do Laws and Instututions Affect Recovery Rates on Collateral?” (jointly with Jose María Liberti and Jason Sturgess)

07.09.16
Anders Tolle (Ecole Polytechnique Fédérale de Lausanne)
"Market Structure and Transaction Costs of Index CDSs” (jointly with Pierre Collin-Dufresne and Benjamin Junge)

29.06.16
Adriano Rampini (Duke University)
“Risk Management in Financial Institutions” (jointly with S. Viswanathan and Guillaume Vuillemey)

15.06.16
Yuri Tserlukevich (Arizona State University)
"Is Market Timing Good for Shareholders?” (jointly with Ilona Babenko and Pengcheng Wan)

08.06.16
Clemens Sialm (McCombs School of Business, University of Texas at Austin)
"Government Debt and Capital Structure Decisions: International Evidence" (jointly with Irem Demirci and Jennifer Huang)

25.05.16
Gustavo Manso (UC Berkeley, Haas School of Business)
“Heterogeneous Innovation over the Business Cycle” (jointly with Benjamin Balsmeier and Lee Flemming)

18.05.16
Tarun Chordia (Goizueta Business School | Emory University)
“Do High Frequency Traders Need to be Regulated? Evidence from Trading on Macroeconomic Announcements” (jointly with T. Clifton Green, Badrinath Kottimukkalur)

11.05.16
Martin Brown (University of St.Gallen)
“Banking Crises, Bail-ins, and Depositor Confidence: Lessons from Cyprus” (jointly with Ioanna S. Evangelou and Helmut Stix)

04.05.16
Matthias Kahl (McCombs School of Business, University of Texas at Austin)
“Operating Leverage and Corporate Financial Policies” (jointly with Jason Lunn and Mattias Nilsson)

27.04.16
Guillaume Plantin (Toulouse School of Economics)
“Marking to Market versus Taking to Market"(jointly with Jean Tirole)

20.04.16
Tim Adam (Humboldt-Universität zu Berlin)
“Managerial Biases and Debt Contract Design: The Case of Syndicated Loans"(jointly with Valentin Burg, Tobias Scheinert and Daniel Streitz)

18.04.16
Michael Weber (Chicago Booth University of Chicago)
"Monetary Policy through Production Networks: Evidence from the Stock Market" (jointly with Francesco D’Acunto, Ryan Liu and Carolin Pflueger)

13.04.16
Nickolay Gantchev (Kenan-Flagler Business School)
“Activism Mergers"(jointly with Nicole M. Boyson and Anil Shivdasani)

06.04.16
Mike Burkart (Stockholm School of Economics)
“Hedge Fund Activism vs. Hostile Takeover Bids” (jointly with Samuel Lee)

30.03.16
Bernd Schwaab (ECB)
“The bank-sovereign nexus across borders” (jointly with H.-Johannes Beckenfelder)

16.03.16
Konstantin Milbradt (Kellogg School of Management)
“Volume, liquidity and volatility in OTC markets”

02.03.16
Francois Derrien (HEC Paris)
"The effects of investment bank rankings: Evidence from M&A league tables” (jointly with Olivier Dessaint

22.02.2016
Söhnke Bartram (University of Warwick)
"Why does idiosyncratic risk increase with market risk?" (jointly with Gregory Brown, University of North Carolina and René M. Stulz, Ohio State University)

17.02.2016
Lukas Roth (University of Alberta)
"Do Institutional Investors Drive Corporate Social Responsibility? International Evidence" (jointly with Alexander Dyck, University of Toronto; Karl V. Lins, University of Utah and Hannes F. Wagner, Bocconi University)

10.02.2016
Vincent Maurin (European University Institute)
"Liquidity Fluctuations in Over the Counter Markets"

03.02.2016
Luana Zaccaria (London School of Economics)
"Are Family and Friends the Wrong Investors? Evidence from U.S. Startups"

02.02.2016
Christoph Siemroth (University of Mannheim)
"The informational content of prices when policy makers react to financial markets"

28.01.2016
Ansgar Walther (University of Oxford)
"Crowding out disclosure: Amplification and stress test design" (jointly with Daniel Quigley, University of Oxford)

27.01.2016
Stefano Sacchetto (Carnegie Mellon University)
"Merger Activity in Industry Equilibrium" (jointly with Theodosios Dimopoulos, Swiss Finance Institute & University of Lausanne)

26.01.2016
Konstantinos E. Zachariadis (London School of Economics)
"Multi-Asset Noisy Rational Expectations Equilibrium with Contingent Claims" (jointly with Georgy Chabakauri and Kathy Yuan, London School of Economics)

22.01.2016
Matthias Efing (Swiss Finance Institute & University of Geneva)
"Arbitraging the Basel Securitization Framework: Evidence from German ABS Investment"

21.01.2016
Francesco Consonni (Bocconi University)
"Do Firms Hedge Their Labor Costs?"

20.01.2016
Esad Smajlbegović (University of Mannheim)
"Regional Economic Activity and Stock Returns

19.01.2016
Jim Goldman (INSEAD)
"Government as Customer of Last Resort: The Stabilizing Effects of Government Purchases on Firms"

14.01.2016
Jayant V. Ganguli (University of Essex)
"The pricing effects of ambiguous private information" (jointly with Scott Condiey, Brigham Young University)

13.01.2016
Jérôme Dugast (University of Warwick)
"Unscheduled News and Market Dynamics"

12.01.2016
Tobias Berg (Bonn University)
"Got rejected? Real effects of not getting a loan"

18.12.2015
Philipp Illeditsch (Wharton School of the University of Pennsylvania)
"Disagreement about Inflation and the Yield Curve" (jointly with Paul Ehling, Norwegian Business School; Michael Gallmeyer, The McIntire School of Commerce and Christian Heyerdahl-Larsen, London Business School)

16.12.2015
Francesco Sangiorgi (Stockholm School of Economics)
"Searching for Information" (jointly with Jungsuk Han, Stockholm School of Economics)

09.12.2015
George Pennacchi (UIUC College of Business)
"Financial Intermediation Chains in an OTC Market " (jointly with Alexei Tchistyi, UIUC College of Business)

02.12.2015
Joël Peress (INSEAD)
"Glued to the TV: Distracted Retail Investors and Stock Market Liquidity" (jointly with Daniel Schmidt, HEC Paris)

27.11.2015
Hongjun Yan (Rutgers Business School)
"Financial Intermediation Chains in an OTC Market " (jointly with Ji Shen, London School of Economics and Bin Wei, Federal Reserve Bank of Atlanta)

18.11.2015
Ramin Baghai (Stockholm School of Economics)
"Non-rating revenue and conflicts of interest" (jointly with Bo Becker, Stockholm School of Economics)

11.11.2015
Nobuhiro Kiyotaki (Princeton University)
"Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises" (jointly with Mark Gertler, Princeton University and Andrea Prestipino, Princeton University)

04.11.2015
Silvia Rossetto (Toulouse School of Economics)
“Ownership Concentration and Firm Risk: Evidence from the US”

21.10.2015
Semyon Malamud (Swiss Finance Institute)
"A Dynamic Equilibrium Model of ETFs"

14.10.2015
Annette Vissing-Jørgensen (UC Berkeley, Haas School of Business)
"Stock Returns over the FOMC Cycle" (jointly with Anna Cieslak, Duke University and Adair Morse, University of California Berkeley and NBER)

07.10.2015
Alex Edmans (London Business School)
"The Source of Information in Prices and Investment-Price Sensitivity" (jointly with Sudarshan Jayaraman, Simon Business School, University of Rochester)

05.10.2015
Andriy Bodnaruk (Notre Dame, Mendoza College of Business)
"Cross-Border Alliances and Risk Management" (jointly with Alberto Manconi, Tilburg University; Tim Landvoigt and Massimo Massa, INSEAD)

30.09.2015
Doron Levit (Wharton School of the University of Pennsylvania)
"Corporate Control Activism" (jointly with Adrian A. Corum, Wharton School of the University of Pennsylvania)

24.09.2015
Stijn Claessens (Federal Reserve System)
"The Role of Foreign Banks in Trade" (jointly with Omar Hassib, Maastricht University and Neeltje van Horen, De Nederlandsche Bank)

22.09.2015
Philip Dybvig (Olin Business School)
"How to Squander your Endowment: Pitfalls and Remedies" (jointly with Zhenjiang Qin, Institute of Financial Studies, SWUFE)

31.08.2015
Philip Bond (Foster School of Business)
"Buying high and selling low: Stock repurchases and persistent asymmetric information" (jointly with Hongda Zhong, London School of Economics)

Management & Accounting Seminars

Frankfurt School’s Research Seminar in Management & Accounting is a forum for researchers to present and discuss research contributing to a better understanding of a broad range of managerial issues. The research seminar focuses on the interactive discussion of theoretically embedded papers following rigorous research designs (including empirical-archival and experimental research methods).

We would like to thank Lexware GmbH & Co. KG for their generous support of this series of talks.

We would like to thank Lexware GmbH & Co. KG for their generous support of this series of talks.

The talks usually take place on Tuesdays from 12:30 to 2:00 p.m. during the semester. Before or after the talk there is the opportunity to meet and exchange with members of the faculty in individual discussions.

External guests are welcome to attend and are in case of interest asked to subscribe via e-mail in order to get invitations for our research seminar and other events

Events

Past Management & Accounting Seminars

27.06.17
Torsten Biemann (Universität Mannheim)
“Do Human Resource Management Practices Converge? A New Look at an Old Question via Kernel Density Estimates”

20.06.17
Xue Jia (The University of Melbourne)
“Activist Intervention, Firm Disclosures and Investment” (jointly Rahul Menon)

13.06.17
Margaret Abernethy (The University of Melbourne)
“INITIATION AND IMPLEMENTATION OF STRATEGIC CHANGE: DOES MANAGEMENT CONTROL MATTER?” (jointly Henri C. Dekker and Jennifer Grafton)

06.06.17
Nilanjana (Nel) Dutt (Bocconi University – Department of Management and Technology & iCRIOS)
“Knowledge Sources in the Renewable Electricity Industry” (jointly Will Mitchell) 

29.05.17
Alexandre de Cornière (Toulouse School of Economics)
“Social Media and the News Industry” (jointly Miklos Sarvary)

16.05.17
Robert Seamans (NYU Stern School of Business)
“Technological Opportunity ant the Locus of Innovation: Airmail, Aircraft, and Inventors” (jointly Eunhee Sohn and Daniel Sands)

09.05.17
Salvatore Piccolo (Universita Cattolica del Sacro Cuore)
“Competing for Surplus in a Trade Environment” (jointly Sarah Auster and Nenad Kos)

04.05.17
Susanna Gallani (Harvard Business School)
“Incentives, Peer Pressure, and Behavior Persistence”

02.05.17
David Erkens (USC Marshall School of Business)
“Executive Clawback Provisions and Corporate Tax Planning” (jointly Eric J. Allen, Ahrum Choi and Peter SH. Oh) 

11.04.17
Andrea Mantovani (University of Bologna)
“Salient Consumers and Uncertain Product Quality” (jointly Elias Carroni, Antonio Minniti and Giuseppe Pignataro)

21.03.17
Olivier Chatain (HEC Paris)
“NGOs and the Creation of Value in Supply Chains” (jointly Elena Plaksenkova)

14.03.17
Marc Möller (Universität Bern)
“Selling in Advance to Loss Averse Buyers” (jointly Heiko Karle)

13.03.17
Ranjani Krishnan (Michigan State University)
PUTTING “CALCULATIVE” IN “TRUST”: HOW TO ENGENDER RELATIONAL GOVERNANCE WITHIN FORMAL CONTRACTS” (jointly Anjana Susarla and Martin Holzacker)

01.03.17
Laurence van Lent (Tilburg University)
“Aggregate and Idiosyncratic Political Risk: Measurement and Effects” (jointly Tarek A. Hassan, Stephan Hollander and Ahmed Tahoun)

27.02.17
Raffaele Conti (Católica Lisbon School of Business and Economics)
“SUPER PARTES? ASSESSING THE EFFECT OF JUDICIAL INDEPENDENCE OF ENTRY” (jointly Giovanni Valentini)

09.12.2016
Eva Labro (University of North Carolina)
“Updating Accounting Systems: Long-Run Evidence from the Health Care Sector” (jointly with Lorien Stice-Lawrence)

11.11.2016
Alexey Kushnir (Carnegie Mellon University)
“Market Power and Optimal Income Taxation” (jointly with Robertas Zubrickas)

08.11.16
Sven Rady (Universität Bonn)
“Strongly Symmetric Equilibria in Bandit Games"(jointly with Johannes Hörner and Nicolas Klein)

18.10.16
Mingfeng Tang (Southwest University of Finance and Economics)
“Betting on indigenous innovation or relying on FDI: The Chinese strategy for catching-up"(jointly with Caroline Hussler)

11.10.16
Libby Weber (Paul Merage School of Business)
“The Impact of Promotion and Prevention Contracts on Trust in Repeated Exchanges: An Experimental Investigation” (jointly with Christopher W. Baumann)

04.10.16
Mirko Heinle (University of Pennsylvania)
“Infuence activities, coalitions, and uniform policies” (jointly with Henry L. Friedman)

27.09.16
Heiko Gerlach (The University of Queensland)
“A Model of Patent Trolls” (jointly with Jai Pil Choi)

20.09.16
Isabella Grabner (Maastricht University)
"How calibration committees can mitigate performance evaluation bias: An analysis ofimplicit incentives" (jointly with Judith Künneke and Frank Moers)

13.09.16
Anton Ovchinnikov (Queens Smith School of Business)
"Strategic Consumers, Revenue Management, and the Design of Loyalty Programs“ (jointly with So Yeon Chun)

06.09.2016
Ole-Kristian Hope (University of Toronto)
"Does the Big-4 Effect Exist when Reputation and Litigation Risks are Low? Evidence from Audit-Partner – Auditee Pair Switches " (jointly with Limei Che and John Christian Langli)

28.06.16
Kristoph Ullrich (Kühne-Logistics Hamburg)
"Demand-Supply Mismatches and Stock Market Performance: A Retailing Perspective" (jointly with Sandra Transchel)

21.06.16
Jens Förster (Ruhr-Universität Bochum)
"Introducing a Self-Regulatory Model on Having and Being: Having is Concrete and Being is Abstract”

14.06.16
Renata Kosova (Imperial College London)
"An Empirical Analysis of Self-Enforcement Mechanisms: Evidence from Hotel Franchsing" (jointly with Giorgo Sertsios)

07.06.16
Steffen Klosterhafen (University of Richmond)
“Strategic Safety Stock Placement in Supply Network with Static Dual Supply” (jointly with Stefan Minner and Sean P. Willems)

31.05.16
Monika Schnitzer (University of Munich)
“Antitrust, Patents, and Cumulative Innovation: Evidence from Bell Labs” (jointly with Martin Watzinger, Thomas Fackler und Markus Nagler)

24.05.16
Sascha Topolinski (Universität Köln)
“Mouth-watering words: Articulatory inductions of eating-like mouthmovements increase perceived food palatability” (jointly with Lea Boecker)

“Popcorn in the cinema: Oral interference sabotages advertising effects” (jointly with Sandy Lindner and Anna Freudenberg)

“What’s in and what’s out in branding? A novel articulation effect for brand names” (jointly with  Michael Zürn and Iris K. Schneider)

11.05.16
Michael Pinedo (New York University)
“On the Modeling of Operational Risk in Finance"(jointly with Yuqian Xu)

10.05.16
Vibha Gaba (INSEAD)
“Safe or Profitable? The Pursuit of Conflicting Goals"(jointly with Henrich R. Greve)

03.05.2016
Sabine Sczesny (University of Bern)
"Gender Diversity – From Explanations to Solutions"

26.04.2016
Dovev Lavie (Technion - Israel)
“A Best Practice Paradox: The Contingent Value of the Dedicated Alliance Function"(jointly Melike Findikoglue)

19.04.16
Alex Brüggen (Maastricht University)
“Socialistic Budget Lapsing and Investment Decisions”

22.03.16
Laurenz Meier (Universität Freiburg)
“Episodes of incivility between subordinates and supervisors: examining the role of self-control and time with an interaction-record diary study” (jointly with H.-Johannes Beckenfelder)

15.03.16
Gavin Cassar (INSEAD)
“Evidence on Explicit Contracting and Ex-Post Settling Up in Incentive Design” (jointly with Brian Cadman)

08.03.16
Regis Renault (Université de Cergy-Pontoise)
"Search Direction” (jointly with Simon P. Anderson)

07.03.16
Jenker Denrell (Warwick Business School)
"When More Selection is Worse” (jointly with Chengwei Liu and Gaël Le Mens)

01.03.16
Rouba Ibrahim (University College London)
"Does the Past Predict the Future? The Case of Delay Announcements in Service Systems” (jointly with Mor Amony and Achal Bassamboo)

Brown Bag Workshops

The Brown Bag Workshops at Frankfurt School serve as a platform for internal and external researchers to present and discuss their research ideally in a stage of “work in progress”. The Brown Bag workshops are as a rule on Mondays and Thursdays at lunchtime from 12:20 until 13:10 p.m., so that the event will not interfere with teaching obligations or lectures. The presentations last between 30 and 45 minutes.

The remaining time can be used for questions and discussion.

Events