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Chair of Financial Markets and Financial Institutions
Prof. Dr. Oliver Spalt
Photo credit: Maurice van den Bosch
Welcome to the website of the Chair of Financial Markets and Financial Institutions. Here you can find information on the courses and other services offered at the Chair.
Main fields of research
- Behavioral Finance
- Corporate Governance
- Financial Institutions
Publications
- Baele, L., Driessen, J., Ebert, S., Londono, J. M. and Spalt, O. (2019). Cumulative prospect theory, option returns, and the variance premium. The Review of Financial Studies, 32, 3667-3723.
- Kempf, E., Manconi, A. and Spalt, O. (2017). Distracted shareholders and corporate actions. The Review of Financial Studies, 30, 1660-1695.
- Schneider, C. and Spalt, O. (2017). Acquisitions as lotteries? The selection of target-firm risk and its impact on merger outcomes. Critical Finance Review, 6, 77-132.
- Kumar, A., Page, J. K. and Spalt, O. (2016). Gambling and comovement. Journal of Financial and Quantitative Analysis : JFQA, 51, 85-111.
- Schneider, C. and Spalt, O. (2016). Conglomerate investment, skewness, and the CEO long shot bias. The Journal of Finance, 71, 635-672.
- Kumar, A., Niessen-Ruenzi, A. and Spalt, O. (2015). What is in a name? Mutual fund flows when managers have foreign-sounding names. Review of Financial Studies, 28, 2281-2321.
- Dittmann, I., Maug, E. and Spalt, O. (2013). Indexing executive compensation contracts. Review of Financial Studies, 26, 3182-3224.
- Kumar, A., Page, J. K. and Spalt, O. (2013). Investor sentiment and return comovements: Evidence from stock splits and headquarters changes. Review of Finance, 17, 921-953.
- Spalt, O. (2013). Probability weighting and employee stock options. Journal of Financial and Quantitative Analysis : JFQA, 48, 1085-1118.
- Kumar, A., Page, J. K. and Spalt, O. (2011). Religious beliefs, gambling attitudes, and financial market outcomes. Journal of Financial Economics, 102, 671-708.
- Dittmann, I., Maug, E. and Spalt, O. (2010). Stick or carrots? Optimal CEO compensation when managers are loss averse. The Journal of Finance, 65, 2015-2050.
