Publications
- Kempf, E. and Spalt, O. (2023). Attracting the sharks: Corporate innovation and securities class action lawsuits. Management Science, 69, 1805-1834.
- Schneider, C. and Spalt, O. (2021). Bidder and target size effects in M&A are not driven by overconfidence or agency problems. Critical Finance Review (forthcoming).
- 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. The Review of Financial Studies, 28, 2281-2321.
- Dittmann, I., Maug, E. and Spalt, O. (2013). Indexing executive compensation contracts. The 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.
- Kempf, E. and Spalt, O. (2019). Litigating innovation: Evidence from securities class action lawsuits.
ECGI Working Paper Series in Finance, 614/
2019. Brussels: European Corporate Governance Institute (ECGI). - Manconi, A., Rizzo, A. E. and Spalt, O. (2019). Is the stock market biased against diverse top management teams?
ECGI Working Paper Series in Finance, 616/
2019. Brussels: European Corporate Governance Institute (ECGI). - Schneider, C. and Spalt, O. (2019). On the use of proxy variables in finance: Why does size matter for bidder announcement returns? SSRN Working Paper Series. Rochester, NY.
- Kempf, E., Manconi, A. and Spalt, O. (2017). Learning by doing: The value of experience and the origins of skill for mutual fund managers. SSRN Working Paper Series. Rochester, NY.
- Manconi, A., Rizzo, A. E. and Spalt, O. (2017). Diversity investing. SSRN Working Paper Series. Rochester, NY.
- Dittmann, I., Zhang, D., Maug, E. and Spalt, O. (2011). Note on the calibration of executive compensation models. SSRN Electronic Journal. Rochester, NY [u.a.].
- Dittmann, I., Maug, E. and Spalt, O. (2007). Sticks or carrots? Optimal CEO compensation when managers are loss averse. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07–36. Mannheim.
- Dittmann, I., Maug, E. and Spalt, O. (2006). Executive stock options when managers are loss-averse. Mannheim.