Zacharias Sautner is Professor of Finance at Frankfurt School of Finance & Management. He was previously Associate Professor of Finance at the University of Amsterdam and Research Fellow in Finance at the Saïd Business School of the University of Oxford. Zacharias Sautner works in the area of empirical corporate finance and focuses on ESG, climate finance, and corporate governance. His research was published in leading international journals such as the Journal of Finance, Review of Financial Studies, Management Science or Review of Finance and he has presented at conferences such as the AFA, WFA, and EFA. He was ranked #2 in Germany in Business Administration (#1 in Finance) based on A+ publications (age of 40 or below) by Forschungsmonitoring.org (February 2019). He teaches corporate finance, valuation, and corporate governance and has won different research and teaching awards.
Zacharias Sautner holds a PhD in Finance from the University of Mannheim and studied at University of York and University of Cooperative Education Stuttgart.
Investors and the scientific community agree that climate risks exist and are substantial, but a major challenge is that the time horizons over which these risks likely materialize is highly uncertain.
We estimate the effects of carbon emissions on corporate risk profile. We focus on left-tail or downside risk to capture the market’s perception of jump risks, reflecting big drops in stock prices as in the German utilities example.
In general, corporate governance is about problems that arise between a principal and an agent. Imagine you have just set up company and you – as a principal – have hired a CEO – as an agent – to run your business. The CEO may take actions that are beneficial for him, but not for you. The costs associated with such actions are called agency costs.
What is shareholder activism and why is it important?
Prof. Dr. Zacharias Sautner on his latest investment paper. What are the incentives of short-term investors and how “short” is short-term?