Publications
ZORA Publication List
Publications
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2026
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The leverage of hedge funds and the risk of their prime brokers Journal of Financial Stability, 82, 101498. https://doi.org/10.1016/j.jfs.2025.101498
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2025
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The Intangibles Song in Takeover Announcements: Good Tempo, Hollow Tune Review of Financial Studies, hhaf116. https://doi.org/10.1093/rfs/hhaf116
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Self-justified equilibria: Existence and Computation Journal of the European Economic Association, jvaf062. https://doi.org/10.1093/jeea/jvaf062
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Geopolitical Risk and Domestic Bank Deposits Financial Management, Epub ahead of print. https://doi.org/10.1111/fima.70023
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Building Interpretable Climate Emulators for Economics The Economic Journal, ueaf131. https://doi.org/10.1093/ej/ueaf131
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Understanding reputational risks: The impact of ESG events on European banks Journal of International Financial Markets, Institutions & Money, 105, 102225. https://doi.org/10.1016/j.intfin.2025.102225
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Firm-level nature dependence Review of Finance, rfaf069. https://doi.org/10.1093/rof/rfaf069
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Using AI to assess the decision-usefulness of corporates’ nature-related disclosures Environmental Research Communications, 7(11), 115006. https://doi.org/10.1088/2515-7620/ae1357
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Competition and the Reputational Costs of Litigation Journal of Financial and Quantitative Analysis, 60(7), 3412–3442. https://doi.org/10.1017/s0022109024000802
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Sechs Jahrzehnte Wohnimmobilienpreise in Deutschland Ergebnisse des German Real Estate Index IFO Schnelldienst, 78 (10), 17–23. https://www.ifo.de/publikationen/2025/aufsatz-zeitschrift/sechs-jahrzehnte-wohnimmobilienpreise-deutschland-ergebnisse
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Do Institutional Investors Stabilize Equity Markets in Crisis Periods? Evidence from COVID-19 Management Science, 71(10), 8623–8641. https://doi.org/10.1287/mnsc.2022.03411
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Superstar Returns? Spatial Heterogeneity in Returns to Housing Journal of Finance, 80, 3057–3094. https://doi.org/10.1111/jofi.13479
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Optimal insurance design under limited liability The Journal of Risk and Insurance, Epub ahead of print. https://doi.org/10.1111/jori.70016
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Paying your debt makes you happy: insights during the COVID-19 period Journal of Economic Studies, 52(7), 1338–1351. https://doi.org/10.1108/JES-06-2024-0379
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Banking on Competition: The Spillover Effects of Bank Entry into Microfinance Journal of Financial and Quantitative Analysis, Epub ahead of print. https://doi.org/10.1017/s0022109025101865
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The role of foresight in bridging the gap between trends and customer experiences European Journal of Futures Research, 13, 11. https://doi.org/10.1186/s40309-025-00256-6
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Corporate taxes and entrepreneurs' income: A credit channel Journal of Corporate Finance, 93:102805.
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Effects of bank capital requirements on lending by banks and non-bank financial institutions Journal of Financial Intermediation, 63, 101167. https://doi.org/10.1016/j.jfi.2025.101167
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Credit and entrepreneurs’ income Journal of Financial Intermediation, 63:101161.
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Binding Say-on-Pay and Shareholder Value Review of Corporate Finance Studies:Epub ahead of print.
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Die Rolle der Künstlichen Intelligenz (KI) in der Unternehmensberichterstattung: Chancen, Risiken und Implikationen für die Zukunft des Accounting Swiss Journal of Business, 79(1):77-83.
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Global evidence on profit shifting within firms and across time Journal of Accounting and Economics, 79(2-3):101744.
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Monetary Policy, Held-to-Maturity Securities, and Uninsured Deposit Withdrawals European Accounting Review, Epub ahead of print. https://doi.org/10.1080/09638180.2025.2478164
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Earnings Management and the Role of Moral Values in Investing European Accounting Review, 34(2):841-871.
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Risk parity portfolio optimization under heavy‐tailed returns and dynamic correlations Journal of Time Series Analysis, 46(2):353-377.
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The Measurement and Pricing of Biodiversity Risk Accountability in a Sustainable World Quarterly, 3(2), 32–35. https://care-mendoza.nd.edu/accountability-in-a-sustainable-world-quarterly/volume-3-issue-2-march-2025/
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The performance of FDIC-identified community banks Journal of Financial Stability, 77:101394.
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CDS and credit: The effect of the bangs on credit insurance, lending and hedging Journal of Empirical Finance, 81:101583.
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Global currency hedging with ambiguity Journal of Banking and Finance, 172:107366.
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Automated fact-checking of climate claims with large language models npj Climate Action, 4(1):17.
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The impact of foreign sanctions on firm performance in Russia The British Accounting Review:101586.
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Sectoral Credit Allocation and Systemic Risk Journal of Financial Stability, 76:101363.
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Using AI to assess corporate climate transition disclosures Environmental Research, 7(2):021010.
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The Climate in Climate Economics Review of Economic Studies, 92(1):299-338.
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Catch, Restrict, and Release: The Real Story of Bank Bailouts Review of Corporate Finance Studies:cfaf001.
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Quantitative easing and the functioning of the gilt repo market The European Journal of Finance, 31(1):31-52.
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Introduction to JEBO special issue on wars, economic sanctions, economic behaviors, and institutions Journal of Economic Behavior & Organization, 229:106860.
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CEO turnover and director reputation Journal of Financial Economics, 163:103971.
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Movables as collateral and corporate credit: Loan-level evidence from legal reforms across Europe Journal of Banking and Finance, 170:107331.
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2024
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Four-Fold News Sentiment and Stock Returns Journal of Portfolio Management:jpm.2024.1.663.
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Technical patterns and news sentiment in stock markets Journal of Finance and Data Science, 10:100145.
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The role of green financial sector initiatives in the low-carbon transition: A theory of change Global Environmental Change, 89:102915.
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Impacts of climate litigation on firm value Nature Sustainability, 7(11):1461-1468.
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Social preferences and the variability of conditional cooperation Economic Theory:Epub ahead of print.
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Move a little closer? Information sharing and the spatial clustering of bank branches Review of Finance, 28(6):1881-1918.
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Do banks engage in earnings management? The role of dividends and institutional factors Journal of Banking and Finance, 168:107287.
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Population Aging and Bank Risk-Taking Journal of Financial and Quantitative Analysis, 59(7):3037-3061.
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Investor attention and idiosyncratic risk in cryptocurrency markets The European Journal of Finance, 30(16):1932-1950.
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Decoding market reactions: The certification role of EU-wide stress tests Economic Modelling, 139:106828.
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Firm ESG reputation risk and debt choice European financial management, 30(4):2071-2094.
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Enhancing Equity Factor Model with Publicly Reported ESG Data Journal of Impact and ESG Investing, 5(1):122-147.
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Integrating artificial intelligence with expert knowledge in global environmental assessments: opportunities, challenges and the way ahead Regional Environmental Change, 24(3):121.
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Restriktive Planung ist kein "Free Lunch" Immobilia, 91(8):40-41.
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Identification in general equilibrium Journal of Mathematical Economics, 113:103017.
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Opinion dynamics in communities with major influencers and implicit social influence via mean-field approximation Mathematics and Financial Economics, 18(2-3):333-377.
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Modeling Risk Sharing and Impact on Systemic Risk Mathematics, 12(13):2083.
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Green fintech: developing a research agenda CSR, Sustainability, Ethics & Governance, 31(4):2823-2837.
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Asset-level assessment of climate physical risk matters for adaptation finance Nature Communications, 15:5371.
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How cheap talk in climate disclosures relates to climate initiatives, corporate emissions, and reputation risk Journal of Banking and Finance, 164:107191.
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Modelling sustainable investing in the CAPM Annals of Operations Research:Epub ahead of print.
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FinTech services from BigTech companies Systems Research and Behavioral Science, Epub ahead of print. https://doi.org/10.1002/sres.3029
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Fiscal transfers, local government, and entrepreneurship Journal of Policy Analysis and Management, 43(3):818-845.
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Investment motives and performance expectations of impact investors Journal of Behavioral and Experimental Finance, 42:100911.
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Mortgage lending through a fintech web platform. The roles of competition, diversification, and automation Journal of Banking and Finance, 163:107194.
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A Bayesian policy learning model of COVID-19 non-pharmaceutical interventions Applied Economics, 56(25):2990-3010.
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The Effects of Mandatory ESG Disclosure Around the World Journal of Accounting Research, 62(5):1795-1847.
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Learning from COVID-19: A roadmap for integrated risk assessment and management across shocks of pandemics, biodiversity loss, and climate change Environmental Science & Policy, 155:103726.
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Qualitative robustness of utility-based risk measures Annals of Operations Research, 336(1-2):967-980.
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Leveraging inter-organizational agility for innovation Strategy & leadership, 52(1):15-22.
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High-Frequency Effects of Novel News on the EURUSD Exchange Rate Journal of Behavioral Finance, 25(2):194-207.
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Financial stability through the lens of complex systems Journal of Financial Stability, 71:101228.
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Limited attention to detail in financial markets: Evidence from reduced-form and structural estimation Journal of Financial Economics, 154:103811.
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Over with carbon? Investors’ reaction to the Paris Agreement and the US withdrawal Journal of Financial Stability, 71:101232.
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Biodiversität und Finanzmärkte Expert Focus, 4:105-110.
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Economic and financial consequences of water risks: The case of hydropower Ecological Economics, 218:108048.
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Flood, farms and credit: The role of branch banking in the era of climate change Journal of Corporate Finance, 85:102544.
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“Long GFC”? The global financial crisis, health care, and COVID‐19 deaths Economic Inquiry, 62(2):865-891.
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ESG Shareholder Engagement and Downside Risk Review of Finance, 28(2):483-510.
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Bridging the gap in ESG measurement: Using NLP to quantify environmental, social, and governance communication Finance Research Letters, 61:104979.
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Which banks for green growth? A review and a tentative research agenda Journal of Sustainable Finance and Accounting, 1:100001.
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Interest Rates and the Spatial Polarization of Housing Markets American Economic Review: Insights, 6(1):89-104.
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Forecasting inflation using sentiment Economics Letters, 236:111575.
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A taxonomy for decentralized finance International Review of Financial Analysis, 92:103083.
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A default system with overspilling contagion Frontiers of Mathematical Finance, 3(1):127-162.
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Unintended Consequences of the Global Derivatives Market Reform Journal of the European Economic Association:jvae010.
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Risk in Time: The Intertwined Nature of Risk Taking and Time Discounting Journal of the European Economic Association, 22(1):310-354.
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Quantum computing as an enabling technology for the next business cycle HMD Praxis der Wirtschaftsinformatik, 61(1):284-298.
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Leverage ratio, risk-based capital requirements, and risk-taking in the United Kingdom Financial markets, institutions & instruments, 33(1):31-60.
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Ask BERT: How Regulatory Disclosure of Transition and Physical Climate Risks affects the CDS Term Structure Journal of Financial Econometrics, 22(1):30-69.
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Regulatory Sandboxes and Fintech Funding: Evidence from the UK Review of Finance, 28(1):203-233.
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Low carbon mutual funds Review of Finance, 28(1):45-74.
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On the economic impacts of mortgage credit expansion policies: Evidence from help to buy Journal of Urban Economics, 139, 103611. https://doi.org/10.1016/j.jue.2023.103611
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