Publikationen

2025

• Germann, M., Mertes, L., Weber, M. und Loos, B. (2025). Trust and delegated investing: a money doctors experiment. Review of Finance, 29, 75–102.
• Müller-Dethard, J., Reinhardt, N. und Weber, M. (2025). Reinvesting or consuming dividends – account structure matters. Review of Finance (forthcoming).
• Schneider, C. und Spalt, O. (2025). Bidder and target size effects in M&A are not driven by overconfidence or agency problems. Critical Finance Review, 14, 187–215.
• Ungeheuer, M. und Weber, M. (2025). So what do we learn from Li and Wang? Critical Finance Review, 14, 123–128.

2024

• Agarwal, V., Ruenzi, S. und Weigert, F. (2024). Unobserved performance of hedge funds. The Journal of Finance, 79, 3203-3259.
• Jannati, S., Kumar, A., Niessen-Ruenzi, A. und Wolfers, J. (2024). In-group bias on financial markets. Management Science (forthcoming).
• Kieren, P. und Weber, M. (2024). Expectation formation under uninformative signals. Management Science (forthcoming).
• Kundu, S. (2024). Impact of regulations on firm value: Evidence from the 2016 U.S. presidential election. Journal of Financial and Quanti­tative Analysis : JFQA, 59, 1659-1691.
• Laudenbach, C., Malmendier, U. und Niessen-Ruenzi, A. (2024). The long-lasting effects of living under communism on attitudes towards financial markets. The Journal of Finance (forthcoming).
• Levit, D., Malenko, N. und Maug, E. (2024). Trading and shareholder democracy. The Journal of Finance, 79, 257–304.
• Meier, K., Niessen-Ruenzi, A. und Ruenzi, S. (2024). The impact of role models on women's self-selection in competitive environments. The Quarterly Journal of Finance : QJF (forthcoming).
• Menkveld, A. J., Dreber, A., Holzmeister, F., Huber, J., Johannesson, M., Kirchler, M., Neusüß, S., Razen, M., Weitzel, U., Abad-Días, D., Abudy, M., Adrian, T., Ait-Sahalia, Y., Akmansoy, O., Alcock, J. T., Alexeev, V., Aloosh, A., Amato, L., Amaya, D., Angel, J. J., Avetikian, A. T., Bach, A., Baidoo, E., Bakalli, G., Bao, L., Barbon, A., Bashchenko, O., Bindra, P. C., Bjønnes, G. H., Black, B. S., Black, J. R., Scharnowski, S. und Theissen, E. (2024). Nonstandard Errors. The Journal of Finance, 79, 2339-2390.

2023

• Du, M., Niessen-Ruenzi, A. und Odean, T. (2023). Stock repurchasing bias of mutual funds. Review of Finance, 1–29.
• Fink, J., Palan, S. und Theissen, E. (2023). Earnings autocorrelation and the post-earnings-announcement drift: experimental evidence. Journal of Financial and Quanti­tative Analysis : JFQA, 1–39.
• Flannery, M. J., Hanousek, J., Shamshur, A. und Tresl, J. (2023). M&A activity and the capital structure of target firms. Journal of Financial and Quanti­tative Analysis : JFQA, 58, 2064–2095.
• Hillert, A., Niessen-Ruenzi, A. und Ruenzi, S. (2023). Mutual fund shareholder letters: Flows, performance, and managerial behavior. Management Science (forthcoming).
• Kempf, E. und Spalt, O. (2023). Attracting the sharks: Corporate innovation and securities class action lawsuits. Management Science, 69, 1805-1834.
• Kieren, P., Müller-Dethard, J. und Weber, M. (2023). Risk-taking and asymmetric learning in boom and bust markets. Review of Finance, 27, 1743-1779.
• Laudenbach, C., Ungeheuer, M. und Weber, M. (2023). How to alleviate correlation neglect in investment decisions. Management Science, 69, 3400-3414.
• Zimmermann, L. (2023). Enhanced Global Asset Pricing Factors. Journal of Financial and Quanti­tative Analysis : JFQA, 58, 2692-2731.

2022

• Brockman, P., Hanousek, J., Tresl, J. und Unlu, E. (2022). Dividend smoothing and firm valuation. Journal of Financial and Quanti­tative Analysis : JFQA, 57, 1621-1647.
• Chabi-Yo, F., Huggenberger, M. und Weigert, F. (2022). Multivariate crash risk. Journal of Financial Economics, 145, 129–153.

2021

• Li, S. Z., Maug, E. und Schwartz-Ziv, M. (2021). When shareholders disagree: Trading after shareholder meetings. The Review of Financial Studies, 35, 1–71.
• Ungeheuer, M. und Weber, M. (2021). The perception of dependence, investment decisions, and stock prices. The Journal of Finance, 76, 797–844.

2020

• Addoum, J. M., Kumar, A., Le, N. und Niessen-Ruenzi, A. (2020). Local bankruptcy and geographic contagion in the bank loan market. Review of Finance, 24, 997-1037.
• Atanasov, V., Møller, S. V. und Priestley, R. (2020). Consumption fluctuations and expected returns. The Journal of Finance, 75, 1677-1713.
• Focke, F., Ruenzi, S. und Ungeheuer, M. (2020). Advertising, attention, and financial markets. The Review of Financial Studies, 33, 4676-4720.

2019

• Antoni, M., Maug, E. und Obernberger, S. (2019). Private equity and human capital risk. Journal of Financial Economics, 133, 634–657.
• Baele, L., Driessen, J., Ebert, S., Londono, J. M. und Spalt, O. (2019). Cumulative prospect theory, option returns, and the variance premium. The Review of Financial Studies, 32, 3667-3723.
• Glaser, M., Iliewa, Z. und Weber, M. (2019). Thinking about prices versus thinking about returns in financial markets. The Journal of Finance, 74, 2997-3039.
• Niessen-Ruenzi, A. und Ruenzi, S. (2019). Sex matters: Gender bias in the mutual fund industry. Management Science, 65, 3001-3025.

2018

• Arnold, M., Hackbarth, D. und Puhan, T. X. (2018). Financing asset sales and business cycles. Review of Finance, 22, 243–277.
• van Bekkum, S., Gabarro, M. und Irani, R. M. (2018). Does a larger menu increase appetite? Collateral eligibility and credit supply. The Review of Financial Studies, 31, 943–979.
• Fousseni, C.-Y., Ruenzi, S. und Weigert, F. (2018). Crash sensitivity and the cross section of expected stock returns. Journal of Financial and Quanti­tative Analysis : JFQA, 53, 1059-1100.
• Hoechle, D., Ruenzi, S., Schaub, N. und Schmid, M. (2018). Financial advice and bank profits. The Review of Financial Studies, 31, 4447-4492.
• Kim, E H., Maug, E. und Schneider, C. (2018). Labor representation in governance as an insurance mechanism. Review of Finance, 22, 1251-1289.

2017

• Agarwal, V., Ruenzi, S. und Weigert, F. (2017). Tail risk in hedge funds : a unique view from portfolio holdings. Journal of Financial Economics, 125, 610–636.
• Busch, P. und Obernberger, S. (2017). Actual share repurchases, price efficiency, and the information content of stock prices. The Review of Financial Studies, 30, 324–362.
• Focke, F., Maug, E. und Niessen-Ruenzi, A. (2017). The impact of firm prestige on executive compensation. Journal of Financial Economics, 123, 313–336.
• Heuer, J., Merkle, C. und Weber, M. (2017). Fooled by randomness: Investor perception of fund manager skill. Review of Finance, 21, 605–635.
• Hoechle, D., Ruenzi, S., Schaub, N. und Schmid, M. (2017). The impact of financial advice on trade performance and behavioral biases. Review of Finance, 21, 871–910.
• Kempf, E., Manconi, A. und Spalt, O. (2017). Distracted shareholders and corporate actions. The Review of Financial Studies, 30, 1660-1695.
• Kroencke, T. (2017). Asset pricing without garbage. The Journal of Finance, 72, 47–98.
• Schneider, C. und Spalt, O. (2017). Acquisitions as lotteries? The selection of target-firm risk and its impact on merger outcomes. Critical Finance Review, 6, 77–132.

2016

• Hillert, A., Maug, E. und Obernberger, S. (2016). Stock repurchases and liquidity. Journal of Financial Economics, 119, 186–209.
• Jacobs, H. (2016). Market maturity and mispricing. Journal of Financial Economics, 122, 270–287.
• Koch, A., Ruenzi, S. und Starks, L. T. (2016). Commonality in liquidity: a demand-side explanation. The Review of Financial Studies, 29, 1943-1974.
• Kumar, A., Page, J. K. und Spalt, O. (2016). Gambling and comovement. Journal of Financial and Quanti­tative Analysis : JFQA, 51, 85–111.
• Schneider, C. und Spalt, O. (2016). Conglomerate investment, skewness, and the CEO long shot bias. The Journal of Finance, 71, 635–672.

2015

• Atanasov, V. und Nitschka, T. (2015). Foreign currency returns and systematic risks. Journal of Financial and Quanti­tative Analysis : JFQA, 50, 231–250.
• Betzer, A., Gider, J., Metzger, D. und Theissen, E. (2015). Stealth trading and trade reporting by corporate insiders. Review of Finance, 19, 865–905.
• Kumar, A., Niessen-Ruenzi, A. und 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.