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Publications
- Antoni, M., Maug, E. and Obernberger, S. (2019). Private equity and human capital risk. Journal of Financial Economics, 131, tba.
- van Bekkum, S., Gabarro, M. and Irani, R. M. (2018). Does a larger menu increase appetite? Collateral eligibility and credit supply. The Review of Financial Studies, 31, 943-979.
- Kim, E H., Maug, E. and Schneider, C. (2018). Labor representation in governance as an insurance mechanism. Review of Finance, 22, 1251-1289.
- Focke, F., Maug, E. and Niessen-Ruenzi, A. (2017). The impact of firm prestige on executive compensation. Journal of Financial Economics, 123, 313-336.
- Klein, O., Maug, E. and Schneider, C. (2017). Trading strategies of corporate insiders. Journal of Financial Markets, 34, 48-68.
- Hillert, A., Maug, E. and Obernberger, S. (2016). Stock repurchases and liquidity. Journal of Financial Economics, 119, 186-209.
- Dittmann, I., Kübler, D., Maug, E. and Mechtenberg, L. (2014). Why votes have value : instrumental voting with overconfidence and overestimation of others' errors. Games and Economic Behavior, 84, 17-38.
- Dittmann, I., Maug, E. and Spalt, O. G. (2013). Indexing Executive Compensation Contracts. Review of Financial Studies, 26, 3182-3224.
- Dittmann, I., Maug, E. and Zhang, D. (2011). Restricting CEO Pay. Journal of Corporate Finance, 17, 1200-1220.
- Maug, E. and Albrecht, B. (2011). Struktur und Höhe der Vorstandsvergütung : Fakten und Mythen. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 63, 858-881.
- Maug, E. and Naik, N. (2011). Herding and delegated portfolio management : the impact of relative performance evaluation on asset allocation. The Quarterly Journal of Finance : QJF, 1, 265-292.
- Dittmann, I., Maug, E. and Schneider, C. (2010). Bankers on the boards of German firms : What they do, what they are worth, and why they are (still) there? Review of Finance, 14, 35-71.
- Dittmann, I., Maug, E. and Spalt, O. G. (2010). Stick or Carrots? Optimal CEO Compensation when Managers are Loss-averse. The Journal of Finance, 65, 2015-2050.
- Güth, W., Kröger, S. and Maug, E. (2009). Bargaining under large risk - an experimental analysis. New Zealand Economic Papers, 43, 105-129.
- Maug, E. and Rydqvist, K. (2009). Do shareholders vote strategically? Voting behavior, proposals screening, and majority rules. Review of Finance, 13, 47-79.
- Dittmann, I., Maug, E. and Schneider, C. (2008). How Preussag Became TUI: A Clinical Study of Institutional Blockholders and Restructuring in Europe. Financial Management, 37, 571-598.
- Dittmann, I. and Maug, E. (2007). Lower Salaries and No Options: The Optimal Structure of Executive Pay. Journal of Finance, 62, 303-343.
- Güth, W. and Maug, E. (2007). Who Volunteers? A Theory of Firms Allowing for Intrinsically Motivated Agents. Zeitschrift für Betriebswirtschaft : ZfB, 77, 49-74.
- Maug, E. (2006). Efficiency and fairness in minority freezeouts: Takeovers, overbidding, and the freeze-in problem. International Review of Law and Economics, 26, 355-379.
- Dittmann, I., Maug, E. and Kemper, J. (2004). How fundamental are fundamental values? Valuation methods and their impact on the performance of German venture capitalists. European Financial Management, 10, 609-638.
- Maug, E. (2002). Insider trading legislation and corporate governance. European Economic Review : EER, 46, 1569-1597.
- Maug, E. and Yilmaz, B. (2002). Two-class voting : a mechanism for conflict resolution in bankruptcy? American Economic Review : AER, 92, 1448-1471.
- Maug, E. (2001). Ownership structure and the life-cycle of the firm : a theory of the decision to go public. European Finance Review, 5, 167-200.
- Maug, E. (2000). The relative performance puzzle. Schmalenbach Business Review : SBR, 52, 3-24.
- Maug, E. (1998). Large shareholders as monitors : is there a trade-off between liquidity and control? The Journal of Finance, 53, 65-98.
- Maug, E. (1997). Boards of directors and capital structure : alternative forms of corporate restructuring. Journal of Corporate Finance, 3, 113-139.
- Maug, E. (1996). Corporate control and the market for managerial labour : on the decision to go public. European Economic Review : EER, 40, 1049-1056.
- Meier, K., Niessen-Ruenzi, A. and Ruenzi, S. (2018). The impact of role models on women's self-selection in competitive environments. SSRN Working Paper Series. Rochester, NY.
- Antoni, M., Maug, E. and Obernberger, S. (2017). Private equity and human capital risk. ECGI Finance Working Paper, 518. Brussels [u.a.]: European Corp. Governance Inst..
- Hillert, A., Maug, E. and Obernberger, S. (2013). Stock Repurchases and Market Liquidity. Mannheim.
- Daske, H., Maug, E. and van Halteren, J. (2010). Evaluating Methods to Estimate the Implied Cost of Equity Capital: A Simulation Study. Rochester, NY.
- Dittmann, I., Kübler, D., Maug, E. and Mechtenberg, L. (2010). Why Votes have a Value. Rochester, NY.
- Klein, D. and Maug, E. (2010). How do executives exercise their stock options? Rochester, NY.
- Lebedeva, O., Maug, E. and Schneider, C. (2009). Stealth Trading by Corporate Insiders. Rochester, NY.
- Maug, E., Dittmann, I. and Schneider, C. (2009). Bankers and the performance of German firms.
- Dittmann, I. and Maug, E. (2008). Biases and Error Measures: How to Compare Valuation Methods. Rochester, NY.
- Dittmann, I. and Maug, E. (2007). Valuation biases, error measures, and the conglomerate discount. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-37. Mannheim.
- Dittmann, I., Maug, E. and Schneider, C. (2007). How Preussag became TUI : kissing too many toads can make you a toad.
- Dittmann, I., Maug, E. and Spalt, O. G. (2007). Sticks or Carrots? Optimal CEO Compensation when Managers are loss averse. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-36. Mannheim.
- Maug, E. and Dittmann, I. (2007). Lower salaries and no options : the optimal structure of executive pay.
- Maug, E., van Halteren, J. and Ackerman, A. (2007). Insider trading legislation and acquisition announcements : do laws matter? Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-34. Mannheim.
- Maug, E. and Rydqvist, K. (2007). Do shareholders vote strategically? Voting behavior, proposals screening, and majority rules. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-35. Mannheim.
- Dittmann, I., Maug, E. and Spalt, O. G. (2006). Executive Stock Options when Managers Are Loss-Averse. Mannheim.
- Barko, T. and Renneboog, L. (2015). Mutual funds : management styles, social responsibility, performance, and efficiency. In Baker, H. Mutual funds and exchange-traded funds : building blocks to wealth (S. 268-290). New York, NY: Oxford University Press.
- Degeorge, F. and Maug, E. (2008). Corporate finance in Europe : a survey. In Freixas, X. Handbook of European financial markets and institutions (S. 217-237). Oxford [u.a.]: Oxford University Press.
- Dittmann, I. and Maug, E. (2005). Warum optimale Anreizverträge keine Optionen enthalten. In Franz, W. Funktionsfähigkeit und Stabilität von Finanzmärkten (S. 1-20). Tübingen: Mohr Siebeck.
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Finance Seminar
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Research Seminar Corporate Finance
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Brownbag Seminar
Spring 2019
Date Name Title Feb 14 Ernst Maug When Shareholders Disagree: Trading after Shareholder Meetings March 7 Jan Müller-Dethard Portfolio Composition and Investment Decisions Apr 4 tba tba May 9 Peter Severin Private Equity and Taxes May 16 Tamas Barko European DataWarehouse: An Introduction May 23 Prof. Dr. Oscar Stolper (Universität Marburg) tba