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, 133, 634-657.
- 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. (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. (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.
- Levit, D., Malenko, N. und Maug, E. (2019). Trading and shareholder voting. ECGI Finance Working Paper, 631. Bruxelles: European Corp. Governance Inst.
- Levit, D., Malenko, N. und Maug, E. (2019). Trading and shareholder voting. CEPR Discussion Paper, 14039. London: Centre for Economic Policy Research (CEPR).
- Li, S. Z., Maug, E. und Schwartz-Ziv, M. (2019). When shareholders disagree: Trading after shareholder meetings. ECGI Finance Working Paper, 594. Bruxelles: European Corp. Governance Inst.
- 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.
- Dittmann, I., Zhang, D., Maug, E. und Spalt, O. (2011). Note on the calibration of executive compensation models. SSRN Electronic Journal. Rochester, NY [u.a.].
- 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., Maug, E. und Schneider, C. (2008). Bankers on the boards of German firms: What they do, what they are worth, and why they are (still) there? ECGI Finance Working Paper, 196/2008. Bruxelles: European Corp. Governance Inst.
- 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. (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. (2006). Executive stock options when managers are loss-averse. Mannheim.
- Meier, K., Niessen-Ruenzi, A. und Ruenzi, S. (2019). The impact of role models on women’s self-selection in competitive environments. In , The Second Quadrant Behavioural Finance Conference : Presented by the I.H. Asper School of Business, Thursday, April 4, 2019 (S. 5). , I.H. Asper School of Business: Winnipeg, MB.
- Meier, K., Ruenzi, S. und Niessen-Ruenzi, A. (2019). The impact of role models on women's self-selection in competitive environments. In Hirshleifer, D., The American Finance Association 2019 Annual Meeting : January 4-6, 2019 in Atlanta, GA, 2019 Preliminary Program and Ph.D. Poster Session (S. 1-56). , American Finance Association: Salt Lake City, UT.
- Meier, K., Niessen-Ruenzi, A. und Ruenzi, S. (2018). The impact of role models on women's self-selection in competitive environments. In , EEA-ESEM Cologne 2018 : 33rd Annual Congress of the European Economic Association and 71st European Meeting of the Econometric Society, Cologne, Germany, August 27-31, 2018 : Program (S. 1-56). , European Economic Association: Brussels.
- 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 2019
Date Name Title Sep 12 Hamed Davari Corporate Lobbying and Antitrust Sep 26 Mattia Colombo Common Ownership and Bank Competition Oct 17 Yichun Dong tba Nov 7 Santanu Kundu Trump, Regulation and Stock Returns Nov 14 Marc Gabarro Take It to the Limit? The Effects of Household Leverage Caps Nov 21 Yannik Schneider Capital Misallocation and Innovation Nov 28 Mattia Colombo Board Connections and Product Market Synergies Dec 5 Alison Schultz Why Do Banks Stop Interbank Lending in a Crisis? The Role of Indirect Counterparty Risk through Portfolio Overlap -
Brownbag Seminar
Thursday, 12:30 p.m. - 1:30 p.m.
O 129 (unless otherwise stated)Fall 2019
Date Name Title Sep 12 Pascal Kieren, Jan Müller-Dethard Belief Formation in Boom and Bust Markets Sep 26 Serena Trucchi (Universität Turin) Permanent versus Transitory Income Shocks over the Business Cycle Oct 17 Christian Schmidt Zombies Eat Brain: Capital Misallocation and Innovation Oct 31 Johannes Voget Tax effects on the trading behavior of private investors: evidence from individual portfolio data Nov 14 Oliver Spalt Litigating Innovation: Evidence from Securities Class Action Lawsuits Nov 21 cancelled . Nov 28 Michael Ungeheuer (Aalto University School of Business) Growth Expectations Out of WACC Dec 05 Tabea Bucher-Koenen (ZEW) Do Seemingly Smarter People Get Better Advice