Olaf Stotz
Professor of Asset Management and Pension Economics • Professor
Professor of Asset Management and Pension Economics
Olaf Stotz has been Professor of Asset Management and Pension Economics at the Frankfurt School of Finance & Management since 2008. His research focuses on financial market prices and investor behavior, using state-of-the-art empirical methods and large datasets. A central theme of his work is forecasting future security prices and improving investor decision-making. He has also developed a financial app for retirement planning aimed at the general public.
His research is published in leading academic journals and has practical applications in the financial industry. In his teaching, Professor Stotz focuses primarily on quantitative subjects such as asset management, finance, and statistics.
Before joining the Frankfurt School, Professor Stotz spent several years working in various financial institutions. His work has received several awards. Among other honors, he has been repeatedly ranked among the top 100 most influential economists in the German-speaking world by the Frankfurter Allgemeine Zeitung (FAZ) and the Neue Zürcher Zeitung (NZZ).
Professor Stotz holds a degree in Industrial Engineering from the Karlsruhe Institute of Technology (K.I.T.), and earned his doctorate and habilitation at RWTH Aachen University.
His research is published in leading academic journals and has practical applications in the financial industry. In his teaching, Professor Stotz focuses primarily on quantitative subjects such as asset management, finance, and statistics.
Before joining the Frankfurt School, Professor Stotz spent several years working in various financial institutions. His work has received several awards. Among other honors, he has been repeatedly ranked among the top 100 most influential economists in the German-speaking world by the Frankfurter Allgemeine Zeitung (FAZ) and the Neue Zürcher Zeitung (NZZ).
Professor Stotz holds a degree in Industrial Engineering from the Karlsruhe Institute of Technology (K.I.T.), and earned his doctorate and habilitation at RWTH Aachen University.
- Finance department
- Professor
- Faculty
PUBLICATIONS
Nickelsen, J., Stotz, O., 2023. Do fund managers in the Chinese mutual fund market deliver positive risk-adjusted returns? Yes, but it is mainly observed for local fund managers, Quantitative Finance and Economics Vol. 7(4), pp. 595-621.
Stotz, O., Renz, M., 2021. A Macroeconomic Hedge Portfolio and the Cross-Section of Stock Returns, Review of Financial Economics Vol. 39(1), pp. 73-94.
Stotz, O., 2021. Expected and realized returns on stocks with high and low ESG exposure, Journal of Asset Management Vol. 22, pp. 133-150.
Stotz, O., Linhart, P., 2021. Which factors support trust in the recommendation process of pension products? Trust and pension products, Journal of Financial Services Marketing.
Stotz, O., 2020. The Equity Curve and Its Relation to Future Stock Returns, Journal of Risk and Financial Management Vol. 13(2)(Article-No. 19).
Stotz, O., 2019. The perception of homeownership utility: short-term and long-term effects, Journal of Housing Economics Vol. 44, pp. 99-111.
Stotz, O., 2019. The response of equity prices to monetary policy announcements: decomposing the announcement day return into cash-flow news, interest rate news, and risk premium news, Journal of International Money and Finance Vol. 99.
Stotz, O., 2018. A labor news hedge portfolio and the cross-section of expected stock returns, Journal of Empirical Finance Vol. 48, pp. 123-139.
Stotz, O., 2016. Investment strategies and macroeconomic news announcement days, Journal of Asset Management Vol. 17(1), pp. 45-56.
Stotz, O., 2016. The relative pricing of European dividend futures and their predictive abilities for index returns, European Journal of Finance Vol. 22(15), pp. 1484-1506.
Stotz, O., Georgi, D., 2012. A Logit Model of Retail Investors' Individual Trading Decisions and their Relations to Insider Trades, Review of Financial Economics Vol. 21(4), pp. 159-167.
Stotz, O., 2012. Do retail investors follow insider trades?, German Economic Review Vol. 13(3), pp. 257-274.
Stotz, O., 2011. Conditional strike prices of covered call and uncovered put strategies, Applied Financial Economics Vol. 21(16), pp. 1163-1174.
Stotz, O., 2011. The influence of geography on the success of private equity: investments in listed equity, Applied Financial Economics Vol. 21(21), pp. 1605-1615.
Stotz, O., Wanzenried, G., Döhnert, K., 2010. Do fundamental indexes produce higher risk-adjusted returns than market cap indexes?: Evidence for European stock markets, Financial Markets and Portfolio Management Vol. 24(3), pp. 219-243.
Stotz, O., Wanzenried, G., Döhnert, K., 2010. Open market purchases of public equity by private equity investors: size and home-bias effects, Journal of Economics and Business Vol. 62(6), pp. 562-576.
Stotz, O., 2009. Predicting returns of equity mutual funds, Journal of Asset Management Vol. 10(9), pp. 158-169.
Stotz, O., 2008. Überrendite von Aktien: Risikoprämie oder Ambiguitätsprämie?, Die Betriebswirtschaft Jg. 68(3), pp. 337-350.
Stotz, O., 2007. Regression betas and implied betas: their respective implications for the equity risk premium, Kredit und Kapital Jg. 40(2), pp. 317-341.
Stotz, O., 2007. Selection, market timing and style timing of equity mutual funds: evidence from Germany, Zeitschrift für Betriebswirtschaft Jg. 77(1), pp. 51-73.
Stotz, O., 2006. Germany´s new insider law: the empirical evidence after the first year, German Economic Review Vol. 7(4), pp. 449-462.
Nitzsch, R., Stotz, O., 2006. Zu welchen Renditeeinbußen führt der Home Bias?, Finanz-Betrieb Jg. 8(2), pp. 106-113.
Stotz, O., 2005. Active portfolio management, implied expected returns amd analyst optimism, Financial Markets and Portfolio Management Vol. 19(3), pp. 261-275.
Breuer, W., Perst, A., Stotz, O., 2005. Behavioral Corporate Finance, BankArchiv Jg. 53(3), pp. 153-162.
Stotz, O., Nitzsch, R., 2005. The perception of control and the level of overconfidence: evidence from analyst earnings estimates and prices targets, Journal of Behavioral Finance Vol. 6(3), pp. 121-128.
Stotz, O., 2004. How to profit from mean reverting risk premiums?: Implications for stock selection, Journal of Asset Management Vol. 5(3), pp. 192-202.
Stotz, O., 2004. Portfolioselektion und delegiertes Portfoliomanagement: welche Kosten verursacht eine falsche Benchmark?, BankArchiv Jg. 52(7), pp. 543-549.
Stotz, O., Nitzsch, R., 2003. Warum sich Analysten überschätzen: Einfluss des Kontrollgefühls auf die Selbstüberschätzung, Zeitschrift für Bankrecht und Bankwirtschaft Jg. 15(2), pp. 106-113.
Stotz, O., Renz, M., 2021. A Macroeconomic Hedge Portfolio and the Cross-Section of Stock Returns, Review of Financial Economics Vol. 39(1), pp. 73-94.
Stotz, O., 2021. Expected and realized returns on stocks with high and low ESG exposure, Journal of Asset Management Vol. 22, pp. 133-150.
Stotz, O., Linhart, P., 2021. Which factors support trust in the recommendation process of pension products? Trust and pension products, Journal of Financial Services Marketing.
Stotz, O., 2020. The Equity Curve and Its Relation to Future Stock Returns, Journal of Risk and Financial Management Vol. 13(2)(Article-No. 19).
Stotz, O., 2019. The perception of homeownership utility: short-term and long-term effects, Journal of Housing Economics Vol. 44, pp. 99-111.
Stotz, O., 2019. The response of equity prices to monetary policy announcements: decomposing the announcement day return into cash-flow news, interest rate news, and risk premium news, Journal of International Money and Finance Vol. 99.
Stotz, O., 2018. A labor news hedge portfolio and the cross-section of expected stock returns, Journal of Empirical Finance Vol. 48, pp. 123-139.
Stotz, O., 2016. Investment strategies and macroeconomic news announcement days, Journal of Asset Management Vol. 17(1), pp. 45-56.
Stotz, O., 2016. The relative pricing of European dividend futures and their predictive abilities for index returns, European Journal of Finance Vol. 22(15), pp. 1484-1506.
Stotz, O., Georgi, D., 2012. A Logit Model of Retail Investors' Individual Trading Decisions and their Relations to Insider Trades, Review of Financial Economics Vol. 21(4), pp. 159-167.
Stotz, O., 2012. Do retail investors follow insider trades?, German Economic Review Vol. 13(3), pp. 257-274.
Stotz, O., 2011. Conditional strike prices of covered call and uncovered put strategies, Applied Financial Economics Vol. 21(16), pp. 1163-1174.
Stotz, O., 2011. The influence of geography on the success of private equity: investments in listed equity, Applied Financial Economics Vol. 21(21), pp. 1605-1615.
Stotz, O., Wanzenried, G., Döhnert, K., 2010. Do fundamental indexes produce higher risk-adjusted returns than market cap indexes?: Evidence for European stock markets, Financial Markets and Portfolio Management Vol. 24(3), pp. 219-243.
Stotz, O., Wanzenried, G., Döhnert, K., 2010. Open market purchases of public equity by private equity investors: size and home-bias effects, Journal of Economics and Business Vol. 62(6), pp. 562-576.
Stotz, O., 2009. Predicting returns of equity mutual funds, Journal of Asset Management Vol. 10(9), pp. 158-169.
Stotz, O., 2008. Überrendite von Aktien: Risikoprämie oder Ambiguitätsprämie?, Die Betriebswirtschaft Jg. 68(3), pp. 337-350.
Stotz, O., 2007. Regression betas and implied betas: their respective implications for the equity risk premium, Kredit und Kapital Jg. 40(2), pp. 317-341.
Stotz, O., 2007. Selection, market timing and style timing of equity mutual funds: evidence from Germany, Zeitschrift für Betriebswirtschaft Jg. 77(1), pp. 51-73.
Stotz, O., 2006. Germany´s new insider law: the empirical evidence after the first year, German Economic Review Vol. 7(4), pp. 449-462.
Nitzsch, R., Stotz, O., 2006. Zu welchen Renditeeinbußen führt der Home Bias?, Finanz-Betrieb Jg. 8(2), pp. 106-113.
Stotz, O., 2005. Active portfolio management, implied expected returns amd analyst optimism, Financial Markets and Portfolio Management Vol. 19(3), pp. 261-275.
Breuer, W., Perst, A., Stotz, O., 2005. Behavioral Corporate Finance, BankArchiv Jg. 53(3), pp. 153-162.
Stotz, O., Nitzsch, R., 2005. The perception of control and the level of overconfidence: evidence from analyst earnings estimates and prices targets, Journal of Behavioral Finance Vol. 6(3), pp. 121-128.
Stotz, O., 2004. How to profit from mean reverting risk premiums?: Implications for stock selection, Journal of Asset Management Vol. 5(3), pp. 192-202.
Stotz, O., 2004. Portfolioselektion und delegiertes Portfoliomanagement: welche Kosten verursacht eine falsche Benchmark?, BankArchiv Jg. 52(7), pp. 543-549.
Stotz, O., Nitzsch, R., 2003. Warum sich Analysten überschätzen: Einfluss des Kontrollgefühls auf die Selbstüberschätzung, Zeitschrift für Bankrecht und Bankwirtschaft Jg. 15(2), pp. 106-113.
Nitzsch, R., Stotz, O., 2006. Risikobewusst investieren: der Schlüssel zum kontrollierten Portfoliomanagement, 1. Aufl., München: FinanzBuch-Verl.
Stotz, O., 2004. Aktives Portfoliomanagement auf Basis von Fehlbewertungen in den Renditeerwartungen, Berlin: Duncker & Humblot. (Aachen, Techn. Hochsch., Diss., 2003.)
Stotz, O., 2004. Aktives Portfoliomanagement auf Basis von Fehlbewertungen in den Renditeerwartungen, Berlin: Duncker & Humblot. (Aachen, Techn. Hochsch., Diss., 2003.)
Joachim Coche, Olaf Stotz (eds), 2002. Asset Allocation: Vermögens- und Finanzanlagen professionell steuern, Köln: Dt. Wirtschaftsdienst.
Breuer, W., Gürtler, M., Stotz, O., 2009, Robust Portfolio Selection with Endogenous Expected Returns and Asset Allocation Timing Strategies, in: Greg N. Gregoriou (ed): Stock Market Volatility, Boca Raton: CRC Press, pp. 209-229.
Nitzsch, R., Stotz, O., 2007, Das Verhalten von Marktteilnehmern an der Börse: Behavioral Finance, in: Dieter Frey, Lutz von Rosenstiel (eds): Enzyklopädie der Psychologie, Göttingen: Hogrefe, pp. 857-886.
Breuer, W., Stotz, O., 2006, Mutual fund flows and expected stock returns in Germany: the role of the benchmark and of expectation biases, in: Greg N. Gregoriou (ed): Diversification and Portfolio Management of Mutual Funds, Houndmills: Palgrave Macmillan, pp. 138-166.
Breuer, W., Stotz, O., 2005, "Real" risk management: Opportunities and limits of consumption-based strategies, in: Michael Frenkel, Ulrich Hommel, Markus Rudolf (eds): Risk Management: Challenge and Opportunity, 2. Aufl., Berlin: Springer, pp. 679-698.
Nitzsch, R., Rouette, C., Stotz, O., 2005, Kapitalstrukturentscheidungen junger Unternehmen, in: Christoph J. Börner, Dietmar Grichnik (eds): Entrepreneurial Finance, Heidelberg: Physica-Verl., pp. 409-429.
Coche, J., Stotz, O., 2002, Die drei "R" der Asset Allocation, in: Joachim Coche, Olaf Stotz (eds): Asset Allocation, Köln: Dt. Wirtschaftsdienst, pp. 31-43.
Stotz, O., 2002, Fed Modell, Risikoprämie und Asset Allocation, in: Joachim Coche, Olaf Stotz (eds): Asset Allocation, Köln: Dt. Wirtschaftsdienst, pp. 105-124.
Coche, J., Stotz, O., 2001, Asset Allocation (7.1.2), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Stotz, O., 2001, Grundlagen des Asset Managements (7.1.1), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Coche, J., Stotz, O., 2001, Performancemessung von Assetmanagern (7.1.3), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Nitzsch, R., Stotz, O., 2007, Das Verhalten von Marktteilnehmern an der Börse: Behavioral Finance, in: Dieter Frey, Lutz von Rosenstiel (eds): Enzyklopädie der Psychologie, Göttingen: Hogrefe, pp. 857-886.
Breuer, W., Stotz, O., 2006, Mutual fund flows and expected stock returns in Germany: the role of the benchmark and of expectation biases, in: Greg N. Gregoriou (ed): Diversification and Portfolio Management of Mutual Funds, Houndmills: Palgrave Macmillan, pp. 138-166.
Breuer, W., Stotz, O., 2005, "Real" risk management: Opportunities and limits of consumption-based strategies, in: Michael Frenkel, Ulrich Hommel, Markus Rudolf (eds): Risk Management: Challenge and Opportunity, 2. Aufl., Berlin: Springer, pp. 679-698.
Nitzsch, R., Rouette, C., Stotz, O., 2005, Kapitalstrukturentscheidungen junger Unternehmen, in: Christoph J. Börner, Dietmar Grichnik (eds): Entrepreneurial Finance, Heidelberg: Physica-Verl., pp. 409-429.
Coche, J., Stotz, O., 2002, Die drei "R" der Asset Allocation, in: Joachim Coche, Olaf Stotz (eds): Asset Allocation, Köln: Dt. Wirtschaftsdienst, pp. 31-43.
Stotz, O., 2002, Fed Modell, Risikoprämie und Asset Allocation, in: Joachim Coche, Olaf Stotz (eds): Asset Allocation, Köln: Dt. Wirtschaftsdienst, pp. 105-124.
Coche, J., Stotz, O., 2001, Asset Allocation (7.1.2), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Stotz, O., 2001, Grundlagen des Asset Managements (7.1.1), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Coche, J., Stotz, O., 2001, Performancemessung von Assetmanagern (7.1.3), in: Ann-Kristin Achleitner, Georg F. Thoma (eds): Handbuch Corporate Finance, 2. Aufl., Köln: DWD-Verl.
Stotz, O., 2016. Auswirkungen der Niedrigzinsen auf die Altersvorsorge, Ifo-Schnelldienst Jg. 69(13), pp. 13-15.
Stotz, O., 2016. Was kosten Kapitalgarantien in der Altersvorsorge?, Kurvenlage pp. 29-31.
Breuer, W., Stotz, O., 2005. Behavioral Corporate Finance, Wirtschaftsstudium Jg. 34(3), p. 311.
Stotz, O., Lütje, T., Menkhoff, L., Nitzsch, R., 2005. Do fund managers expect mean averting returns?, Finance Letters Vol. 3(2), pp. 47-51.
Breuer, W., Stotz, O., 2004. Zustandsabhängige Bewertung mit dem stochastischen Diskontierungsfaktor am Beispiel von Click-Optionen, Wirtschaftsstudium Jg. 33(1), pp. 79-84.
Stotz, O., 2016. Was kosten Kapitalgarantien in der Altersvorsorge?, Kurvenlage pp. 29-31.
Breuer, W., Stotz, O., 2005. Behavioral Corporate Finance, Wirtschaftsstudium Jg. 34(3), p. 311.
Stotz, O., Lütje, T., Menkhoff, L., Nitzsch, R., 2005. Do fund managers expect mean averting returns?, Finance Letters Vol. 3(2), pp. 47-51.
Breuer, W., Stotz, O., 2004. Zustandsabhängige Bewertung mit dem stochastischen Diskontierungsfaktor am Beispiel von Click-Optionen, Wirtschaftsstudium Jg. 33(1), pp. 79-84.
Renz, M., Stotz, O., 2016. Garantiekosten in der Altersvorsorge: Entwicklung eines Garantiekostenindexes, Auftraggeber:.
Stotz, O., 2016. Geldanlage und Sicherheitsbedürfnis: Die Kosten einer Kapitalgarantie bei einer einmaligen Geldanlage, Auftraggeber:.
Renz, M., Stotz, O., 2016. Internationaler Vergleich in Altersvorsorgesystemen: Entiwcklungen und Perspektiven im aktuellen Niedrigzinsumfeld, Auftraggeber:.
Stotz, O., 2016. Geldanlage und Sicherheitsbedürfnis: Die Kosten einer Kapitalgarantie bei einer einmaligen Geldanlage, Auftraggeber:.
Renz, M., Stotz, O., 2016. Internationaler Vergleich in Altersvorsorgesystemen: Entiwcklungen und Perspektiven im aktuellen Niedrigzinsumfeld, Auftraggeber:.
Stotz, O., 2018. The Intertemporal CAPM in the Presence of Background Wealth.
Stotz, O., 2018. The response of equity prices to monetary policy announcements: decomposing the announcement day return into cash-flow news, interest rate news, and risk premium news.
Stotz, O., Renz, M., 2018. What do Hedge Portfolios Hedge?: Evidence from an Intertemporal CAPM in the Presence of Background Wealth.
Stotz, O., 2018. The response of equity prices to monetary policy announcements: decomposing the announcement day return into cash-flow news, interest rate news, and risk premium news.
Stotz, O., Renz, M., 2018. What do Hedge Portfolios Hedge?: Evidence from an Intertemporal CAPM in the Presence of Background Wealth.
Renz, M., Stotz, O.
Asset Pricing and Macroeconomic Hedge Portfolios
Bourbonus, N., Georgi, D., Stotz, O.
The impact of consulting on buying behavior: the case of attention behavior
Asset Pricing and Macroeconomic Hedge Portfolios
| German Finance Association (DGF), 23rd Annual Meeting, 2016, Bonn. |
Bourbonus, N., Georgi, D., Stotz, O.
The impact of consulting on buying behavior: the case of attention behavior
| Cornell Univ., School of Hotel Administration, The Center for Hospitality Research, QUIS 12 - The 12th International Research Symposium on Service Excellence in Management, 2011, Ithaca (NY). |
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3.15
OFFICE HOURS
During the lecture period
By appointment
Room
3.15