Forschung
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Publikationen und Forschungspapiere
- Antoni, M., Maug, E. und Obernberger, S. (2019). Private equity and human capital risk. Journal of Financial Economics, 131, tba.
- 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.
- Kim, E H., Maug, E. und Schneider, C. (2018). Labor representation in governance as an insurance mechanism. Review of Finance, 22, 1251-1289.
- Focke, F., Maug, E. und Niessen-Ruenzi, A. (2017). The impact of firm prestige on executive compensation. Journal of Financial Economics, 123, 313-336.
- Klein, O., Maug, E. und Schneider, C. (2017). Trading strategies of corporate insiders. Journal of Financial Markets, 34, 48-68.
- Hillert, A., Maug, E. und Obernberger, S. (2016). Stock repurchases and liquidity. Journal of Financial Economics, 119, 186-209.
- Dittmann, I., Kübler, D., Maug, E. und 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. und Spalt, O. G. (2013). Indexing Executive Compensation Contracts. Review of Financial Studies, 26, 3182-3224.
- Dittmann, I., Maug, E. und Zhang, D. (2011). Restricting CEO Pay. Journal of Corporate Finance, 17, 1200-1220.
- Maug, E. und Albrecht, B. (2011). Struktur und Höhe der Vorstandsvergütung : Fakten und Mythen. Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung : Zfbf, 63, 858-881.
- Maug, E. und 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. und 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. und 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. und Maug, E. (2009). Bargaining under large risk - an experimental analysis. New Zealand Economic Papers, 43, 105-129.
- Maug, E. und Rydqvist, K. (2009). Do shareholders vote strategically? Voting behavior, proposals screening, and majority rules. Review of Finance, 13, 47-79.
- Dittmann, I., Maug, E. und Schneider, C. (2008). How Preussag Became TUI: A Clinical Study of Institutional Blockholders and Restructuring in Europe. Financial Management, 37, 571-598.
- Dittmann, I. und Maug, E. (2007). Lower Salaries and No Options: The Optimal Structure of Executive Pay. Journal of Finance, 62, 303-343.
- Güth, W. und 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. und 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. und 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. und 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. und 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. und Obernberger, S. (2013). Stock Repurchases and Market Liquidity. Mannheim.
- Daske, H., Maug, E. und 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. und Mechtenberg, L. (2010). Why Votes have a Value. Rochester, NY.
- Klein, D. und Maug, E. (2010). How do executives exercise their stock options? Rochester, NY.
- Lebedeva, O., Maug, E. und Schneider, C. (2009). Stealth Trading by Corporate Insiders. Rochester, NY.
- Maug, E., Dittmann, I. und Schneider, C. (2009). Bankers and the performance of German firms.
- Dittmann, I. und Maug, E. (2008). Biases and Error Measures: How to Compare Valuation Methods. Rochester, NY.
- Dittmann, I. und Maug, E. (2007). Valuation biases, error measures, and the conglomerate discount. Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-37. Mannheim.
- Dittmann, I., Maug, E. und Schneider, C. (2007). How Preussag became TUI : kissing too many toads can make you a toad.
- Dittmann, I., Maug, E. und 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. und Dittmann, I. (2007). Lower salaries and no options : the optimal structure of executive pay.
- Maug, E., van Halteren, J. und Ackerman, A. (2007). Insider trading legislation and acquisition announcements : do laws matter? Rationalitätskonzepte, Entscheidungsverhalten und ökonomische Modellierung, 07-34. Mannheim.
- Maug, E. und 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. und Spalt, O. G. (2006). Executive Stock Options when Managers Are Loss-Averse. Mannheim.
- Barko, T. und 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. und 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. und 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
Aktuelle Informationen zum Finance-Seminar der Area Banking, Finance & Insurance:
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Research Seminar Corporate Finance
In this seminar, doctoral students from our chair present their current work. It is open to faculty members and interested students. If not stated otherwise in parentheses, our seminars take place during the semester on Thursdays from 1:45 p.m. - 3:15 p.m. in L9, 1-2 (room 4.09).
Fall 2018
Date Name Title Sep 20 Alison Schultz Why do Banks stop Interbank Lending in Crisis? Quantifying the Relative Importance of Direct and Indirect Counterparty Risk and Liquidity Hoarding Oct 4 Hamed Davari Motivating Innovation through the Lense of Executive Compensation Oct 11 Kristina Meier The Emporer's New Clothes: What Does the Market Know about CEO Ability? Oct 18 (12.30 to 15.15) Peter Severin and Yannik Schneider Introduction to Machine Learning Oct 25 Peter Severin Private Equity and Taxes Nov 8 Mattia Colombo Bankers on Board Nov 15 Marc Gabarro Macroprudential Policy and Household Leverage: Micro Evidence Nov 22 Tamas Barko Trading by Socially Responsible Mutual Funds Nov 29 Mengqiao Du Fund Expenses in a Mutual Fund Family Dec 6 (room 001, L9) Yannik Schneider Internal capital markets as a link between disconnected debt markets -
Brownbag Seminar
Thursday, 12:30 p.m. - 1:30 p.m.
O 129 (unless otherwise stated)Spring 2019
Date Name Title Feb 21 tba tba 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