12th Symposium on Finance, Banking, and Insurance

List of accepted papers:

Title


Author(s)

A Fully Implied Approach to Find the Global Minimum Variance Portfolio Kempf, Alexander
Korn, Olaf
Saßning, Sven

A Generalization of the Calendar Time Portfolio Approach and the Performance of Private Investors

Schmid, Markus
Hoechle, Daniel
Zimmermann, Heinz

Acquisitions as Lotteries: Do Managerial Gambling Attitudes Influence Takeover Decisions?

Schneider, Christoph
Spalt, Oliver

An Empirical Study of the Information Premium on Electricity Markets

Biegler-König Richard
Benth, Fred Espen
Kiesel, Rüdiger

Asset allocation of defined-benefit pension plans in the absence of agency conflicts

Ley, Patrick
Rieger, Marc Oliver
Wagner, Alexander

Asymmetric information - evidence from the home insurance market

Aarbu, Karl Ove

Bad Corporate Governance: When Incentive-Based Compensation Identifies Dangerous CEOs

Bechmann, Ken L.
Raaballe, Johannes

Bank risk taking and liquidity creation following regulatory interventions and capital support

Berger, Allen
Christa, Bouwman
Schaeck, Klaus
Kick, Thomas

Banks’ Use of Credit Derivatives and the Pricing of Loans: What Is the Channel and Does It Persist Under Adverse Economic Conditions?

Norden, Lars
Silva Buston, Consuelo
Wagner, Wolf

Capital Adequacy of Financial Enterprises

Madan, Dilip B.

Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking

Gamba, Andrea
De Nicolò, Gianni
Lucchetta, Marcella

Certification and Reputation Milking: Comprehensive Evidence from Corporate Bonds 

Andres, Christian
Betzer, André
Limbach, Peter

Coherent Projections of Age, Period, and Cohort Dependent Mortality Improvements

Aleksic, Marie-Christine
Börger, Matthias

Competition, bonuses, and risk-taking in the banking industry 

Bannier, Christina E.
Feess, Eberhard
Packham, Natalie

Competition, efficiency, and soundness in banking: An industrial organization perspective

Schaeck, Klaus
Cihak, Martin

Contract design and insurance fraud: an experimental investigation

Lammers, Frauke
Schiller, Joerg

Corporate Risk-Taking in Privatized Firms: International Evidence on the Role of State and Foreign Owners

Boubakri, Narjess
Cosset, Jean-Claude
Saffar, Walid

Creative Destruction and Asset Prices

Grammig, Joachim
Jank, Stephan

Credit Risk and the Macro Economy in an Affine Term Structure Model

Speck, Christian

Credit Spread Interdependencies of European States and Banks during the Financial Crisis

Alter, Adrian
Schueler, Yves

Default Risk, Stock Returns and the Bankruptcy Reform Act of 1978

Hackbarth, Dirk
Haselmann, Rainer
Schoenherr, David

Determinants of Bank Interest Margins: Impact of Maturity Transformation

Entrop, Oliver
Memmel, Christoph
Ruprecht, Benedikt
Wilkens, Marco

Do Newspaper Articles Predict Aggregate Stock Returns?

Frey, Roman
Verhofen, Michael

Do we need a European "National Market System''? Competition, arbitrage, and suboptimal executions

Storkenmaier, Andreas
Wagener, Martin

Does contingent capital induce excessive risk-taking and prevent an efficient recapitalization of banks?

Berg, Tobias
Kaserer, Christoph

Does Institutional Environment matter in Executive Compensation? A multinational Analysis

Hüttenbrink, Alexander
Rapp, Marc Steffen
Wolff, Michael

Does Institutional Ownership Matter for International Stock Return Comovement?

Faias, José
Ferreira, Miguel
Matos, Pedro
Santa-Clara, Pedro

Dynamic Present Values and the Intertemporal CAPM

Eraker, Bjorn
Wang, Wenyu

Emissions Markets: Recommendations for Effective Design to Facilitate Efficient Trading

Mnif, Walid
Davison, Matt

Equity friendly or noteholder friendly? The role of collateral asset managers in the collapse of the market for ABS-CDOs

Mählmann, Thomas

Expected and unexpected bond excess returns: Macroeconomic and market microstructure effects

Fricke, Christoph

Implied Risk Premium and the Business Cycle: You Can´t Always Get What You Want

Bestelmeyer, Georg
Dicke, Kristian
Hess, Dieter

Exploring the Sources of Default Clustering

Giesecke, Kay
Schwenkler, Gustavo
Azizpour, Shahriar

Fair Value Accounting and the Business Model of Banks

Bischof, Jannis
Daske, Holger
Gebhardt, Günther

Fee dispersion and persistence in the mutual fund industry

Cooper, Michael
Halling, Michael
Lemmon, Michael

Financial Constraints and the International Zero-Leverage Phenomenon 

Bessler, Wolfgang
Drobetz, Wolfgang
Haller, Rebekka
Meier, Iwan

Financial Planning and Risk-return Profiles

Graf, Stefan
Kling, Alexander
Ruß, Jochen

Government Guarantees and Bank Risk Taking Incentives

Fischer, Markus Jens
Hainz, Christa
Rocholl, Joerg
Steffen, Sascha

In Search of Aggregate Jump and Volatility Risk in the Cross-Section of Stock Returns

Halling, Michael
Cremers, Martijn
Weinbaum, David

Individual Investor Perceptions, Behavior, and Performance during the Financial Crisis

Hoffmann, Arvid O. I.
Pennings, Joost M. E
Post, Thomas

Information Exchange in the Insurance Industry: A Procompetitive or Anticompetitive Device?

Jansen, Jos
Stenbacka, Rune

Institutional Investment Horizon, Corporate Governance, and the Cost of Equity Capital 

Attig, Najah
Cleary, Sean
El Ghoul, Sadok
Guedhami, Omrane

Interbank Lending and the Spread of Bank Failures: A Network Model of Systemic Risk

Giansante, Simone
Krause, Andreas

International propagation of the credit crisis

Brealey, Richard A.
Cooper, Ian Anthony
Kaplanis, Evi

Is it better to say goodbye? When (former) executives set executive pay

Andres, Christian
Fernau, Erik
Theissen, Erik

Is proprietary trading detrimental to retail investors?

Karabulut, Yigitcan
Fecht, Falko
Hackethal, Andreas

Market Risk Prediction under Long Memory: When VaR is Higher than Expected 

Kinateder, Harald
Wagner, Niklas

Mechanically Extracted Company Signals and their Impact on Stock and Credit Markets

Graf, Ferdinand

Mortality Risk and its Effect on Shortfall and Risk Management in Life Insurance

Gatzert, Nadine
Wesker, Hannah

Multiperiod top-down models for banking supervision

Artzner, Philippe
Eisele, Karl-Theodor

New Insights on Asset Pricing and Illiquidity

Buchner, Axel

News Analytics for Energy Futures

Borovkova, Svetlana

On the Propensity to Surrender a Variable Annuity Contract

Knoller, Christian
Kraut, Gunther
Schoenmaekers, Pascal

Policyholder Exercise Behavior for Variable Annuities including Guaranteed Minimum Withdrawal Benefits

Bauer, Daniel
Moenig, Thorsten

Political Reforms and the Causal Impact of Blood-Related Politicians on Corporate Performance

Amore, Mario Daniele
Bennedsen, Morten

Portfolio Selection With Spectral Risk Measures - A Really Good Choice?

Brandtner, Mario

Preference Heterogeneity and Survival in Long-Run Risk Models

Branger, Nicole
Dumitrescu, Ioana
Ivanova, Vesela
Schlag, Christian

Price-Default Risk-Demand-Curves and the Optimal Corporate Risk Strategy of Insurers: A Behavioral Approach 

Gründl, Helmut
Schade, Christian
Zimmer, Anja

Ranking, risk-taking and effort: an analysis of the ECB's foreign reserves management  Sahel, Benjamin
 Scalia, Antonia

Risk Decomposition of Credit Spreads

Fuess, Roland
Gehrig, Thomas
Rindler, Philipp

Risk management of implicit options in life insurance contracts under estimation uncertainty

Körbitz, Paul
Löffler, Gunter

Risk-Taking-Neutral Background Risk

Schlesinger, Harris
Franke, Guenter
Stapleton, Richard

 Robustness and informativeness of  
 systemic risk measures
 Raupach, Peter
 Löffler, Gunter

Selection, timing and total performance of equity funds: Wasting time measuring timing

Krimm, Sebastian
Scholz, Hendrik
Wilkens, Marco

Stress testing German banks against a global credit crunch

Düllmann, Klaus
Kick, Thomas K.

Stressed Correlations and Volatilities – How to Fulfill Requirements of the Basel Committee

Becker, Christoph
Schmidt, Wolfgang M.

Sunshine trading: Flashes of trading intent at the NASDAQ

Skjeltorp, Johannes A.
Sojli, Elvira
Tham, Wing Wah

The Credit Ratings Game - revisited 

Hirth, Stefan

The Economic Value of Market Transparency and Broker Heterogeneity: An Asset Allocation Perspective

Nolte, Ingmar
Payne, Richard
Vasios, Michalis

The expertise of mutual fund managers

De Bondt, Werner F. M.
Xu, Wei

The Impact of Time-Structure on Optimal Prevention

Hofmann, Annette
Peter, Richard

The Role of Volatility Shocks and Rare Events in Long-Run Risk Models

Branger, Nicole
Rodrigues, Paulo
Schlag, Christian

The Price of Prospective Lending: Evidence from Short Sale Constraints

Porras Prado, Melissa

Trading Fees and Efficiency in Limit Order Markets

Colliard, Jean-Edouard
Foucault, Thierry

Variable Annuities and the Option to seek Risk:
Why should you diversify?

Schneider, Judith Christiane
Mahayni, Antje

Volatility patterns of CDS, bond and stock markets before and during the financial crisis: Evidence from major financial institutions

Belke, Ansgar
Gokus, Christian

When does company specific news matter? Determinants of news-related stock returns.

Dzielinski, Michal

Which form of venture capital is best-suited for innovation?

Bertoni, Fabio
Tykvova, Tereza