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The paper `Circuit Breakers and Market Runs' by Dion Bogaerts (co-authored by Sarah Draus and Mark van Achter) has been accepted for publication in the Review of Finance.
December 2023
The paper ‘Reproducibility in Management Science’ by Thomas Lambert, Marta Szymanowska, and Dion Bogaerts (co-authored by 700+) has been published in Management Science.
Guosong Xu's paper "Board reforms and M&A performance: International evidence" (co-authored by Nihat Aktas, Douglas Cumming and, Ahmad Farooq) has been accepted for publication in the Journal of International Business Studies.
Andreas Brøgger's paper “The Future of Emissions” has been accepted for presentation at the AFA 2024 Annual Meeting in San Antonio, Texas, USA.
June 2023
Arjen Mulder has won the Best Professor of the Year Award for his Finance course in the first year of the Bachelor in International Business Administration.
Florian Madertoner has won the Best Professor of the Year Award for his Corporate Finance course in the second year of the Bachelor in International Business Administration.
The paper ‘Ownership Concentration and Firm Value: New Evidence from Owner Stakes in IPOs’ by Peter Roosenboom (co-authored by Borja Larrain, Giorgo Sertsios, and Francisco Urzua Infante) has been accepted for publication in Management Science.
Francesco Mazzola has won the Best Paper Award in Memory of Radha Gopalan at the Finest 2023 Spring Workshop for his paper ‘Sharing SME Cash Flow Data’.
The paper ‘Non-Standard Errors’ co-authored by Wolf Wagner, Mathijs van Dijk, and Francesco Mazzola has been accepted in The Journal of Finance.
Mancy Luo's paper ‘Political Ideology and International Capital Allocation’ (co-authored with Elisabeth Kempf, Larissa Schaefer, and Margarita Tsoutsoura) has been accepted for publication in the Journal of Financial Economics.
Dion Bongaerts was appointed Full Professor in Financial Technology and Data Analytics. His research and teaching interests lie in the behavior of credit rating agencies, the pricing of credit risky instruments, the origins and effects of market illiquidity, and FinTech (with a focus on Blockchain and AI). Dion holds a Ph.D. degree in Finance from the University of Amsterdam.
Dong Yan starts as an Associate Professor at RSM's Finance Department. Dong has a Ph.D. in Finance from The Hong Kong University of Science and Technology. Her research and teaching interests include corporate investment, the real effects of financial markets, private firms, internal capital markets, and M&A.
Andreas Brøgger starts as an Assistant Professor at RSM's Finance Department. Andreas has a Ph.D. in Finance from Copenhagen Business School. His research and teaching interests are in Asset Pricing, Asset Management, and Sustainable Finance.
Ran Guo starts as a Lecturer at RSM's Finance Department.
Reinier de Adelhart Toorop starts as a Part-Time Lecturer at RSM's Finance Department. Reinier holds a Ph.D. in Theoretical Particle Physics from Leiden University. His teaching interests are in Sustainable Finance.
Nathan de Arriba Sellier joins RSM's Finance Department, partly as director of the Platform on Sustainable Value Creation and partly as a researcher within the department. He is working to bolster the research center, advance its research agenda, and maximize the impact of the novel methods and ideas that support the transition to a sustainable economic and financial system. Nathan holds a Ph.D. in law from Leiden University & Erasmus University Rotterdam.
October 2022
Robin Döttling's paper, 'Sustainability Preferences Under Stress: Evidence from Mutual Fund Flows during COVID-19' (co-authored with Sehoon Kim) has been accepted for publication in the Journal of Financial and Quantitative Analysis.
Joren Koëter's paper, 'Variance Discount Rates: What Drives Preferences over Variance Risk?' has been accepted for presentation at the AFA 2023 Annual Meeting in New Orleans, Louisiana, USA.
Robin Döttling, Thomas Lambert, and Mathijs van Dijk's paper, 'Liquidity Creation, Investment and Growth' (co-authored with Thorsten Beck), has been accepted for publication in the Journal of Economic Growth.
The first paper 'Born of Necessity: The Introduction of Convertible Bonds' by Florian Madertoner (co-authored with Abe de Jong) has been accepted for publication in the journal Business History.
July 2022
The paper ‘The Real Effects of Ratings Actions: Evidence from Corporate Asset Sales’ by Dion Bongaerts (co-authored by Frederik Schlingemann) has been accepted for publication in Management Science.
The paper ‘Insurers as Asset Managers and Systemic Risk’ by Wolf Wagner (co-authored by Andrew Ellul, Chotibhak Jotikasthira, Anastasia Kartasheva, and Christian Lundblad) has been accepted for publication at the Review of Financial Studies.
The paper ‘Assimilation Effects in Financial Markets’ by Guosong Xu (co-authored by Eliezer Fich) has been accepted for publication in the Journal of Financial and Quantitative Analysis.
The paper ‘Since You're So Rich, You Must Be Really Smart: Talent, Rent Sharing, and the Finance Wage Premium’ by Daniel Metzger (co-authored by Michael Böhm and Per Strömberg) has been accepted for publication in the Review of Economic Studies.
Francesco Mazzola has been awarded the Best Paper Award for the Refereed Session at the European Real Estate Society (ERES) for his paper ‘Electronic Foreclosures’.
Dirk Schoenmaker has been awarded with the VP Bank Best Paper Award for his joint research with Willem Schramade and Reinier de Adelhart Toorop on their study ‘Decision Rules for Long-term Value Creation’.
Joop Huij has been awarded with the Acatis Value Prize 2021 for his joint research with Georgi Kyosev, Matthias Hanauer, and Simon Lansdorp on ‘Does Earnings Growth Drive the Quality Premium?’.
September 2021
Joren Köeter starts as an Assistant Professor at RSM's Finance Department. Joren has a Ph.D. from Tilburg University. His research and teaching interests lie in the areas of Asset Pricing, Derivative Markets, Behavioral Finance, and Macro-Finance.
Logan Emery starts as an Assistant Professor at RSM's Finance Department. Logan has a Ph.D. from Purdue University. His research and teaching interests lie in the areas of Digitization, Investments, Political Connections, and Information Sets.
The paper 'The Economics of Supranational Bank Supervision' by Wolf Wagner (co-authored by Thorsten Beck and Consuelo Silva-Buston) has been accepted for publication in the Journal of Financial and Quantitative Analysis.
February 2021
The paper 'Hedge Funds Flows and Performance Streaks: How Investors Weigh Information' by Marno Verbeek (co-authored by Guillermo Baquero) has been accepted for publication in Management Science.
The paper 'How Do Shocks Arise and Spread Across Stock Markets? A Microstructure Perspective' by Mathijs van Dijk and Dion Bongaerts (co-authored by Darya Yuferova, Dominik Roesch and Richard Roll) has been accepted for publication in Management Science.
October 2020
The paper 'The Role of Internal M&A Teams in Takeovers' by Guosong Xu (co-authored by Nihat Aktas, Audra Boone, Alexander Witkowski and Burcin Yurtoglu) has been accepted for publication in the Review of Finance.
June 2020
Florian Madertoner won three SR Best Professor of the Year awards for his courses in IBA 1, BA 2, and IBA 2. On top of that, he also won the award for Professor who best adapted to the corona crisis. More information can be found here.
April 2020
The paper 'Salience Theory and Stock Prices: Empirical Evidence' by Mathijs Cosemans (co-authored by Rik Frehen) has been accepted for publication in the Journal of Financial Economics.
February 2020
The paper 'Competition among Liquidity Providers with Access to High-Frequency Technology' by Dion Bongaerts (co-authored by Mark Van Achter) has been accepted for publication in the Journal of Financial Economics.
The paper 'Shareholder Governance and CEO Compensation: The Peer Effects of Say on Pay' by Anjana Rajamani (co-authored by Diane Denis and Torsten Jochem) has been accepted for publication in the Review of Financial Studies.
April 2019
The paper 'Trade Less and Exit Overcrowded Markets: Lessons from International Mutual Funds' by Marno Verbeek (co-authored by Teodor Dyakov and Hao Jiang) has been accepted for publication in the Review of Finance.
The paper 'Time-Varying Inflation Risk and Stock Returns' by Marta Szymanowska (co-authored by Martijn Boons, Fernando Duarte, and Frans de Roon) has been accepted for publication in the Journal of Financial Economics.
Daniel Metzger starts as a Full Professor at RSM's Finance Department. His research and teaching interest lies in the areas of Labor and Finance, Entrepreneurship, Corporate Finance, Corporate Governance, Entrepreneurial Finance and Venture Capital, FinTech, Mergers & Acquisitions and Applied Econometrics.
January 2019
The paper 'Forecasting Success in Equity Crowdfunding' by Peter Roosenboom and Aleksandrina Ralcheva has been accepted for publication in Small Business Economics.
October 2018
Mathijs van Dijk his professorship has been converted from an Endowed Chair to a Permanent Chair in Financial Markets.
September 2018
Robin Döttling starts as an Assistant Professor at RSM's Finance Department. Robin has a Ph.D. from the University of Amsterdam & Tinbergen Institute. His research and teaching interests lie in the areas of Financial Intermediation, Corporate Finance, and Macroeconomics.
August 2018
Mathijs van Dijk got his paper 'Resurrecting the Size Effect: Firm Size, Profitability Shocks, and Expected Stock Returns' (co-authored by Kewei Hou) accepted for publication in the Review of Financial Studies.
The paper 'Insurers as Asset Managers and Systemic Risk' by Wolf Wagner (co-authored by Andrew Ellul, Chotibhak Jotikasthira, Anastasia Kartasheva, and Christian Lundblad) has been accepted for presentation at the European Finance Association Conference (EFA).
The paper ‘Time-Varying Inflation Risk and the Cross-Section of Stock Returns’ by Marta Szymanoska (co-authored by Martijn Boons, Fernando Duarte, and Frans de Roon) has been accepted for presentation at the European Finance Association Conference (EFA).
May 2018
Egemen Genc got his paper 'Do Mutual Fund Investors Overweight the Probability of Extreme Payoffs in the Return Distribution' (co-authored by Ferhat Akbas) accepted for publication in the Journal of Financial and Quantitative Analysis.
April 2018
Francisco Urzua Infate's paper 'The Effects of Losing Business Group Affiliation' (co-authored by Borja Larrain and Giorgo Sertios) was accepted for publication in the Review of Financial Studies.
Mathijs van Dijk's paper 'Do Firms Issue more Equity when Markets become More Liquid' (co-authored by Rogier Hanselaar) was accepted for publication in the Journal of Financial Economics.
September 2017
Mancy Luo starts as an Assistant Professor at RSM's Finance Department. Mancy has a Ph.D. from Tilburg University. Her research and teaching interests lie in the areas of International Asset Management, Financial Media, and Political Economy.
August 2017
Li He starts as an Assistant Professor at RSM's Finance Department. Li has a Ph.D. from the Vienna Graduate School of Finance. Her research and teaching interests lie in the areas of Corporate Finance: Labor and Finance, Executive Compensation, Capital Structure.
Peter Roosenboom's paper ‘Drivers of Institutional Change around the World: The Case of IFRS’ (co-authored by Miriam Koning and Gerard Mertens) was accepted for publication in the Journal of International Business Studies.
July 2017
Thomas Lambert's paper ‘Lobbying on Regulatory Enforcement Actions: Evidence from U.S. Commercial and Savings Banks’ was accepted for publication in Management Science.
June 2017
Egemen Genc and Marno Verbeek got their paper 'Going for Gold: An Analysis of Morningstar Analyst Ratings' (co-authored by Will Armstrong) accepted for publication in Management Science.
May 2017
Wolf Wagner's paper 'Capital Gains Taxation and the Costs of Capital: Evidence from Unanticipated Cross-border Transfers of Tax Bases' was accepted for publication in the Journal of Financial Economics.
April 2017
Egemen Genc's paper 'Playing Favorites: Conflicts of Interest in Mutual Fund Management' (co-authored by Diane Del Guercio and Hai Tran) was accepted for publication in the Journal of Financial Economics.
January 2017
Yigitcan Karabulut's paper 'Is Proprietary Trading Detrimental to Retail Investors' (co-authored by Falko Fecht and Andreas Hackethal) was accepted for publication in the Journal of Finance.
Wolf Wagner got his paper 'The Disturbing Interaction between Countercyclical Capital Requirements and Systemic Risk' accepted for publication in the Review of Finance.
September 2016
Dion Bongaerts's paper 'An Asset Pricing Approach to Liquidity Effects in Corporate Bond Markets' (co-authored by Joost Driessen and Frank de Jong) was accepted for publication in the Review of Financial Studies.
Claus Schmitt starts as an Assistant Professor at RSM's Finance Department. Claus has a Ph.D. from the Karlsruhe Institute of Technology. His research and teaching interests lie in the areas of Asset Pricing, Credit Risk, and Derivatives.
Hoyong Choi got his paper 'Bond Variance Risk Premiums' (co-authored by Philippe Mueller and Andrea Vedolin) accepted for publication in the Review of Finance.
August 2016
Frederik Schlingemann got his paper 'Portable Country Governance and Cross-Border Acquisitions' (co-authored by Jesse Ellis, Sara Moeller, and René Stulz) accepted for publication in the Journal of International Business Studies.
Hoyong Choi starts as an Assistant Professor at RSM's Finance Department. Hoyong has a Ph.D. from the London School of Economics and Political Science. His research and teaching interests lie in the areas of Asset Pricing, Fixed Income, and Financial Econometrics.
June 2016
Mathijs van Dijk got his paper 'The Dynamics of Market Efficiency' (co-authored by Dominik Roesch and Avanidhar Subramanyam) accepted for publication in the Review of Financial Studies.
The paper 'Lobbying on Regulatory Enforcement Actions: Evidence from Banking' by Thomas Lamberthas been accepted for presentation at the European Finance Association in Norway.
The paper 'The Success and Failure of Nascent Markets' by Jose Albuquerque de Sousa, Mathijs van Dijk(co-authored by Thorsten Beck and Peter Bergeijk) has been accepted for presentation at the European Finance Association in Norway.
The paper 'The Disciplining Effect of Credit Ratings: Evidence from Corporate Asset Sales' by Dion Bongaerts, Frederik Schlingemann has been accepted for presentation at the American Finance Association 2017 in Chicago, USA.
May 2016
Elvira Sojli got her paper 'Identifying Cross-Sided Liquidity Externalities' (co-authored by Wing Wah Tham and Johannes Skjeltorp) accepted for publication in Management Science.
Yan Wang got her paper ‘The Product Market Impact of Minority Stake Acquisitions’ (co-authored by Amrita Nain) accepted for publication in Management Science.
Yigitcan Karabulut's paper ‘Incompatible European Partners? Cultural Predispositions and Household Financial Behavior’ (co-authored by Michael Haliassos and Thomas Jansson) was accepted for publication in Management Science.
March 2016
Yigitcan Karabulut got his paper 'Incompatible European Partners? Cultural Predispositions and Household Financial Behavior' (co-authored by Michael Haliassos and Thomas Jansson) accepted for publication in Management Science.
Dirk Schoenmaker starts as a Full Professor at RSM's Finance Department. His research and teaching interests lie in the areas of central banking and financial stability, financial system architecture, European financial integration, and circular economy.
October 2015
The paper 'Estimating Security Betas Using Prior Information Based on Firm Fundamentals' by Mathijs Cosemans (co-authored by Rik Frehen, Peter Schotman and Rob Bauer) has been accepted for publication in the Review of Financial Studies.
The paper 'The International Diversification of Banks and the Value of their Cross-border M&A Advice' by Anjana Rajamani and Abe de Jong (co-authored by Steven Ongena and Marieke van der Poel) has been accepted for publication in Management Science.
September 2015
Wolf Wagnerstarts as a Full Professor at RSM's Finance Department. His research and teaching interests lie in the areas of Financial Innovation, Financial Regulation, Banking, and Asset Pricing.
August 2015
Thomas Lambert starts as an Assistant Professor at RSM's Finance Department. Thomas has a Ph.D. from University Catholique de Louvain and University Lille 2. His research and teaching interests lie in the areas of Corporate Finance, Corporate Governance, Political Economy of Finance and Entrepreneurial Finance.
July 2015
Dion Bongaerts and Mark Van Achter received the 2015 Josseph de la Vega Prize (awarded by the Federation of European Stock Exchanges) for their paper 'High-Frequency Trading and Market Stability'.
The paper 'Why banks want to be complex' by Lars Norden and Fabrizio Spargoli (co-authored by Frank Hong Liu) has been accepted for presentation at the American Finance Association Meeting 2016 and the American Economics Association Meeting 2016 in San Francisco, USA.
The paper 'Trading Speed Competition: Can the arms race go too far?' by Lingtian Kong, Mark Van Achter and Dion Bongaerts has been accepted for presentation at the European Finance Association in Vienna.
The paper 'Bank Deregulation, Competition and Economic Growth: The US Free Banking Experience' by Fabrizio Spargoli has been accepted for presentation at the NBER Summer Institute Conference.
The paper 'Playing Favorites: Conflicts of Interest in Mutual Fund Management' by Egemen Genc (co-authored by Diane Del Guercio and Hai Tran) has been accepted for presentation at the American Finance Association Meeting 2016 in San Francisco, USA.
The paper 'High-Frequency Trading and Market Stability' by Mark Van Achter and Dion Bongaerts has been accepted for presentation at the American Finance Association Meeting 2016 in San Francisco, USA.
March 2015
The paper 'Informational Synergies in Consumer Credit' by Lars Norden (co-authored by Martin Hibbeln, Piet Usselmann and Marc Guertler) received the Best Paper Award in Financial Institutions at the Midwest Finance Conference in Chicago on March 6th.
February 2015
Mathijs van Dijk has been awarded a prestigious fellowship by the Netherlands Institute for Advanced Study in the Humanities and Social Sciences (NIAS).
Yan Wang starts as an Assistant Professor at RSM's Finance Department. Yan has a Ph.D. from the McGill University. Her research and teaching interests lie in the areas of Financial Institutions and Empirical Corporate Finance.
September 2014
Yigitcan Karabulut starts as an Assistant Professor at RSM's Finance Department.Yigitcan has a Ph.D. from Goethe University Frankfurt. His research and teaching interests lie in the areas of Household Finance and Behavioral Finance.
The paper 'The Benefits of Relationship Lending in a Cross-country Context: A meta-analysis' by Vlado Kysucky and Lars Norden has been accepted for publication in Management Science.
April 2014:
The paper 'Options-Implied Variance and Future Stock Returns' by Buhui Qiu (co-authored by Hui Guo) has been accepted for publication in the Journal of Banking and Finance.
March 2014:
Elvira Sojli has won the 2014 Crowell Second Prize which was awarded by the Quantitative Research Group at PanAgora Asset Management for her paper 'Market Illiquidity, Funding Liquidity, and Bond Risk Premia' (co-authored with Kees Bouwman and Wing Wah Tham). The jury found their paper and presentation truly outstanding and deserving this recognition.
January 2014:
The paper 'Flashes of Trading Intent at the NASDAQ' by Elvira Sojli (co-authored by Wing Wah Tham and Johannes Alte Skjeltorp) has been accepted for publication in the Journal of Financial and Quantitative Analysis.
The paper 'Do Target CEOs Trade Premiums for Personal Benefits?' by Buhui Qiu (co-authored by Svetoslav Trapkov and Fadi Yakoub) has been accepted for publication in the Journal of Banking and Finance.
The paper 'Disagreement and the Informativeness of Stock Returns: The Case of Acquisition Announcements' by Frederik Schlingemann (co-authored by Leonce L. Bargeron, Kenneth Lehn, Sara Moeller) is forthcoming in the Journal of Corporate Finance.
The paper 'Does stock liquidity affect the incentives to monitor?' by Peter Roosenboom, Frederik Schlingemann (co-authored by Manuel Vasconcelos) has been accepted for publication in The Review of Financial Studies.
The paper 'The internal capital markets of business groups: Evidence from intra-group loans' by Francisco Urzua Infante (co-authored by David Buchuk, Francisco De Borja Larrain and Francisco Munoz) has been accepted for publication in the Journal of Financial Economics.
Sarah Draus starts as an Assistant Professor at RSM's Finance Department. Sarah has a Ph.D. from the University Paris-Dauphine and used to work for the University of Naples Federico II as an Academic Researcher.
The paper 'Corporate Leverage and the Collateral Channel' by Lars Norden and Stefan van Kampen has been accepted for publication in the Journal of Banking and Finance.
The paper 'Venture Capital and New Business Creation' by Peter Roosenboom (co-authored by A. Popov) has been published in the Journal of Banking and Finance.
September 2013:
The paper 'Front-Running of Mutual Fund Fire-Sales' by Teodor Dyakov andMarno Verbeek has been accepted for publication in the Journal of Banking and Finance.
Fabrizio Spargoli starts as an Assistant Professor at RSM’s Finance Department. Fabrizio has a Ph.D. from the University Pompeu Fabra. His research and teaching interests lie in the areas of Financial Economics, Banking and Financial Regulation.
Francisco Urzúa Infante starts as an Assistant Professor at RSM’s Finance Department. Francisco has a Ph.D. from the Tilburg University. His research and teaching interests lie in the areas of Corporate Finance and Corporate Governance.
August 2013:
Anjana Rajamani starts as an Assistant Professor at RSM's Finance Department. Anjana has a Ph.D. from the University of Pittsburgh. Her research and teaching interest lie in the areas of Empirical Corporate Finance and Mergers & Acquisitions.
July 2013:
The paper 'Information Content when Mutual Funds Deviate from Benchmarks' by Marno Verbeek, Hao Jiang (co-authored by Yu Wang) has been accepted for publication in Management Science.
May 2013:
The paper 'Commodity-based Consumption Tracking Portfolios and the Cross-Section of Average Stock Returns' by Marta Szymanowska(co-authored by Kewei Hou) has been accepted for presentation at the 2014 AFA Meeting in Philadelphia, USA.
The paper 'Financial Constraints of Private Firms and Bank Lending Behavior' by Lars Norden (co-authored by Patrick Behr and Felix Noth) has been accepted for publication in the Journal of Banking and Finance.
April 2013:
The paper 'The Demand for Mortgage Insurance' by Ruben Cox has won the first prize of the Doctoral Student Paper Awards at the 2nd European Retail Investments Conference.
The paper 'Liberalization and Risk Taking: Evidence from Government-Controlled Banks' by Lars Norden (co-authored by Manuel Illueca and Greg Udell) has been accepted for publication in the Review of Finance.
The paper 'Business Credit Information Sharing and Default Risk of Private Firms' by Lars Norden has been accepted for publication in the Journal of Banking and Finance.
The paper 'Better than the Original? The Relative Success of Copycat Funds' by Marno Verbeek (co-authored by Yu Wang) has been accepted for publication in the Journal of Banking and Finance.
The RSM student team (mentored by Peter Roosenboom) entered into the finals of the Dutch/Belgium Local Finals of the CFA Institute Research Challenge. The finals were on February 28 in Amsterdam. The RSM team won the first prize and was awarded € 1000 in ING Investment Management Scholarships and will represent the Netherlands and Belgium at the EMEA finals in London.
March 2013:
Marno Verbeek, Hao Jiang, and Yu Wang have won the top prize in the Standard & Poor Dow Jones Indices' second annual SPIVA Awards programme, for their comprehensive study offering a new perspective in the debate about active management of funds versus passive investing. If you click here you will find the whole press release by Rotterdam School of Management, Erasmus University.
As of August 2013, Anjana Rajamani will join our department. Anjana is currently finalizing her PhD in Finance at the University of Pittsburgh.
As of September 2013, Fabrizio Spargoli and Francisco Urzua Infante will join our department. Fabrizio is currently finalizing his PhD in Economics at the University Pompeu Fabra and Francisco is finalizing his PhD in Finance at Tilburg University.
As of October 2013, Sarah Draus will join our department. Sarah is currently working as an academic researcher at the University of Naples Federico II. Her major research interests are market microstructure, information disclosure, and industrial organization.
December 2012:
The paper 'An Anatomy of Commodity Futures Risk Premia' by Marta Szymanowska, Frans de Roon, Theo Nijman and Rob van den Goorbergh is forthcoming in the Journal of Finance.
Mathijs van Dijk has been appointed as Professor of Financial Markets effective July 1, 2012. Mathijs van Dijk holds this chair, endowed by the Erasmus Trust Fund. Please click here to read the whole press release.
The paper 'One size does fit all: Selling firms to private equity versus strategic acquirers' by Peter Roosenboom (co-authored by J. Fidrmuc, R. Paap, and T. Teunissen) is forthcoming in the Journal of Corporate Finance.
Dion Bongaerts, Associate Professor of Finance has been awarded with an NWO Veni grant for his proposal 'Effective Regulation of Credit Rating Agencies'.
Egemen Genç starts as an Assistant Professor at RSM's Finance Department. Egemen has a Ph.D. from the University of Oregon. His research and teaching interests lie in the areas of Asset Pricing and Mutual Funds.
June 2012:
The paper 'The Impact of Government Intervention in Banks on Corporate Borrowers' Stock Returns' by Lars Norden, Peter Roosenboom and Teng Wang is forthcoming in the Journal of Financial and Quantitative Analysis.
May 2012:
The paper 'Can skin-in-the-game discipline credit rating agencies' by Dion Bongaerts has been accepted for presentation at the 2012 European Finance Association in Copenhagen.
The paper 'Identifying Cross-Liquidity Externalities' by Elvira Sojli (co-authored by Wing Wah Tham and Johannes Skjeltorp) has been accepted for presentation at the 2012 European Finance Association in Copenhagen.
The paper 'Do Changes in the Timeliness of Loan Loss Recognition Affect Bank Risk Taking?' by Lars Norden (co-authored by Manuel Illueca and Gregory F. Udell) has been accepted for presentation at the 2013 American Finance Association Meetings in San Diego.
The paper 'Dispersion in Beliefs among Active Mutual Funds and the Cross-section of Stock Returns' by Hao Jiang (co-authored by Zheng Sun) has been accepted for presentation at the 2013 American Finance Association Meetings in San Diego.
The paper 'When do managers seek private equity backing in public-to-private transactions?' by Peter Roosenboom (co-authored by J. Fidrmuc, A. Palandri, and D.J.C. van Dijk) is forthcoming in the Review of Finance.
April 2012:
The paper 'Corruption, growth, and governance: Private vs. state-owned firms in Vietnam' by Mathijs van Dijk (co-authored by Thuy Nguyen) is forthcoming in the Journal of Banking and Finance.
Marno Verbeek has become Associate Editor of 'De Economist' and 'Prikladnaya Ekonometrika / Прикладная эконометрика'.
Marno Verbeekhas been elected Board Member of the European Institute for Advanced Studies in Management (EIASM).
Dion Bongaerts will participate in the 4nations cup which will take place on May 11, 2012. The 4nations cup is a contest among the most promising young scholars in financial economics.
March 2012:
The paper 'Bidder Hubris and Founder Targets' by Marieke van der Poel and Frederik Schlingemann (co-authored by Nandu J. Nagarajan and Mehmet F. Yalin) has been accepted for presentation at the FSU Suntrust Beach Conference (selection 10 out of 170 papers) and 2012 Corporate Governance, Drexel University (selection 5 out of 70 papers).
The paper 'Dispersion in Beliefs among Active Mutual Funds and the Cross-Section of Stock Returns' by Hao Jiang (co-authored by Zheng Sun) has been accepted for presentation at the Napa Conference on Financial Markets at the UC Davis (selection 6 out of 194 papers).
The paper ‘Valuing and pricing IPOs’ by Peter Roosenboom is forthcoming in the Journal of Banking & Finance.
The paper 'Venture Capital and Patented Innovation: Evidence from Europe' by Peter Roosenboom (co-authored by Alexander Popov) is forthcoming in Economic Policy.
January 2012:
In January 2012 we awarded 15 CFA scholarships (worth approximately $15,000) to our top MsCFI students.
In January 2012 the RSM student team (mentored by Peter Roosenboom) entered into the finals of the Dutch/Belgium Local Finals of the CFA Institute Research Challenge. As part of this challenge, students need to write and present an analyst report. The finals were on February 15 in Amsterdam. The RSM team won first place for the best presentation and a prize of 500 euros. In the overall ranking (report and presentation) the RSM team came in second place after Tilburg University.
The paper ‘Asset Pricing Restrictions on Predictability: Frictions Matter’ by Marta Szymanowska (co-authored with Frans de Roon) is forthcoming in Management Science
Hao Jiang has won the ERIM Top Article Award for his paper ‘Institutional investors, intangible information, and the book-to-market effect’ which was published in the Journal of Financial Economics.
The paper ´The Implied Cost of Capital: A New Approach´ by Mathijs van Dijk (co-authored by Kewei Hou and Yinglei Zhang) is forthcoming in the Journal of Accounting and Economics.
November 2011:
On Thursday, November 11th, 2011 Graduates of the first cohort of the newly-accredited MSc in Finance and Investments Programme (MSc F&I) received their diploma.
Peter Roosenboom has been appointed as Associate Editor of the Journal of Banking and Finance and the Multinational Finance Journal.
The paper ‘Why Do Firms Go Public? The Role of the Product Market’ by Peter Roosenboom, Abe de Jong, Teye Marra (University of Groningen), and Carel Huigen (University of Groningen) has been accepted for publication in the Journal of Business, Finance and Accounting.
October 2011:
Dion Bongaerts won the EFA 2011 Best Conference Award for his paper ‘An Asset Pricing Approach to Liquidity Effects in Corporate Bond Markets' (co-authored by Frank de Jong and Joost Driessen).
July 2011:
The paper "Understanding commonality in liquidity around the world", by Mathijs van Dijk (joint work with Andrew Karolyi and Kuan-Hui Lee) is unconditionally accepted for the Journal of Financial Economics.
The paper “The stock market price of commodity risk" by Marta Szymanowska (co-authored with Martijn Boons and Frans de Roon) has been accepted for presentation at the 2012 AFA Chicago meeting.
The paper “Banks' use of credit derivatives and the pricing of loans: What is the channel and does It persist under adverse economic conditions?” by Lars Norden (co-authored by Consuelo Silva Buston and Wolf Wagner) has been accepted for presentation at the International Risk Management Conference 2011 in Amsterdam.
The paper “Sunshine trading: Flashes of trading intent at the NASDAQ” by Elvira Sojli (co-authored by Wing Wah Tam and Johannes A. Skjeltorp) will be presented at the European Finance Association Meetings and the American Finance Association Meetings.
The paper “The Impact of Government Intervention in Banks on Corporate Borrowers’ Stock Returns” by Lars Norden, Peter Roosenboom,and Teng Wang has been accepted for presentation at the European Finance Association 2011 Conference in Stockholm.
The paper “The Impact of Government Intervention in Banks on Corporate Borrowers’ Stock Returns” by Lars Norden, Peter Roosenboom, and Teng Wang, has been accepted for presentation at the IFABS 2011 Conference in Rome.
The paper “Financial Constraints of Private Firms and Government Ownership in Banks” by Lars Norden (co-authored by Patrick Behr and Felix Noth), has been accepted for presentation at the IFABS 2011 Conference in Rome.
The paper “Banks’ use of credit derivatives and the pricing of loans: What is the channel and does it persist under adverse economic conditions?” by Lars Norden (co-authored byConsuelo Silva Buston and Wolf Wagner) has been accepted for presentation at the IFABS 2011 Conference in Rome.
The paper “Does Equity-Based Compensation Really Have a Dark Side? The Influence of Regulatory Discretion” by Buhui Qiu (co-authored by Mike Ferguson and Weihong Song) has been accepted for presentation at the Fifth Singapore International Conference on Finance, July 19 & 20, 2011. This is one of the international finance conferences that have the lowest acceptance rate. Only 11 papers were accepted from 180 papers.
The paper “Does Equity-Based Compensation Really Have a Dark Side? The Influence of Regulatory Discretion” by Buhui Qiu (co-authored with Mike Ferguson and Weihong Song) has been accepted for presentation at the 2011 China International Conference in Finance organized by MIT and Tsinghua (acceptance rate 25% only).
The paper “Endogenous Information Disclosure and Regulatory Reforms” by Buhui Qiu (co-authored by Renhui Fu and Yong Kim) has been accepted for presentation at the 2011 American Accounting Association Annual Meeting (FARS section). AAA (FARS) is the accounting conference that has the lowest acceptance rate, which is only 10-15%.
The paper “Endogenous Information Disclosure and Regulatory Reforms” by Buhui Qiu (co-authored by Renhui Fu and Yong Kim) has been accepted for presentation at the 2011 China International Conference in Finance organized by MIT and Tsinghua (acceptance rate 25% only).
The paper “Do Mutual Fund Managers Trade on Stock Intrinsic Values?” by Marno Verbeek, Yu Wang, and Rui Shen has been accepted for presentation at the EFA 2011 meetings in Stockholm, August 17-20, 2011.
April 2011:
The paper "Corporate Financial Constraints, Bank Governance, and Financial System Stability" by Lars Norden (joint with Patrick Behr, Fundacao Getulio Vargas, Rio de Janeiro, and Felix Noth, Goethe University Frankfurt) has been accepted for presentation at the FIRS 2011 Conference in Sydney.
The paper “Bond Market Turnover and Credit Spread Changes” by Viorel Roscovan has been accepted for presentation at the FIRS 2011 Conference in Sydney.
The paper "The Stock Market Price of Commodity Risk" by Marta Szymanowska (joint with Martijn Boons and Frans de Roon, Tilburg University) has been accepted for presentation at the FIRS 2011 Conference in Sydney.
Mathijs Cosemans currently working at the University of Amsterdam will join our department as of December 1st, 2011 as an Assistant Professor. Mathijs has a PhD from Maastricht University. His research and teaching interests lie in the areas of Empirical Asset Pricing, Financial Econometrics, Behavioral Finance, and Portfolio Choice.
In May 2011 we will host Sheridan Titman, Miles Livingston, Randall Morck, and Gregory Udell as visitors.
December 2010
The paper ‘Bargaining power and information in SME lending’ by Lars Norden (co-authored by Jens Grunert) has been accepted for publication in Small Business Economics.
October 2010
The paper ‘Why Panel Tests of Purchasing Power Parity Should Allow for Heterogeneous Mean Reversion’ by Mathijs van Dijk and Ben Tims (co-authored by Kees Koedijk) is forthcoming in the Journal of International Money and Finance.
The paper ‘Firms' debt-equity decisions when the static tradeoff theory and the pecking order theory disagree’ by Abe de Jong, Marno Verbeek (co-authored by Patrick Verwijmeren) is accepted for the Journal of Banking and Finance.
Mark Van Achter starts as an Assistant Professor at RSM's Department of Finance. Mark comes from the University of Mannheim and has a Ph.D. from the Catholic University of Leuven. His research and teaching interests lie in the areas of Microstructure of Financial Markets, Information and Financial Markets, Experimental Finance, and Industrial Organization.
June 2010
The paper ‘Loan Growth and Riskiness of Banks’ by Lars Norden (co-authored by Daniel Foos and Martin Weber) has been accepted for publication in the Journal of Banking and Finance.
The paper ‘Global Equity Fund Performance, Portfolio Concentration, and the Fundamental Law of Active Management’ by Joop Huij (co-authored by Jeroen Derwall) has been accepted for publication in the Journal of Banking and Finance.
The MSc in Finance & Investments has received the independent accreditation of the NVAO.
March 2010
The paper "The Implied Cost of Capital: A New Approach" by Mathijs van Dijk (and Kewei Hou) has been accepted for presentation at the 2010 Western Finance Association (WFA) Meetings, in Victoria, Canada (June 2010).
The paper "Do Higher-Moment Equity Risks Explain Hedge Fund Returns?" by Joop Huij (co-authored by Vikas Agarwal and Gurdip Bakshi) has been accepted for presentation at the 2010 Western Finance Association (WFA) Meetings, in Victoria, Canada (June 2010).
Frederik-Paul Schlingemann joins our department as a full professor. Frederik's research and teaching interests focus on financing and investment decisions in corporations, particularly related to mergers and acquisitions. He is also an associate professor of finance at the Katz Graduate School of Business at the University of Pittsburgh.
February 2010
The paper “Derivative Pricing with Liquidity Risk: Theory and Evidence from the Credit Default Swap Market” by Dion Bongaerts (co-authored by Joost Driessen and Frank de Jong) has been accepted at The Journal of Finance.
The paper “Credit Line Usage, Checking Account Activity, and Default Risk of Bank Borrowers” by Lars Norden (with Martin Weber) has been accepted at the Review of Financial Studies
The paper “Why Do Convertible Issuers Simultaneously Repurchase Stock? An Arbitrage-Based Explanation” by Abe de Jong (with Marie Dutordoir and Patrick Verwijmeren) has been accepted for publication in the Journal of Financial Economics.
The paper "Agglomeration Effects and Financial Performance" by Maarten Jennen (co-authored by Patrick Verwijmeren) has been accepted in Urban Studies.
Start of the RSM Finance Visitor Program. Each year several eminent finance scholars from top international schools are invited to visit our department for a period of one to four weeks. Our first guest is Allaudeen Hameed (National University of Singapore) from 29 November to 14 December 2009.
In the Spring of 2010, we will host Miles Livingston (University of Florida) and Uli Hege (HEC Paris).
Dion Bongaerts starts as assistant professor at RSM's Department of Finance. Dion hails from the Finance Group at the University of Amsterdam, where he is anticipated to complete his PhD program by early 2010. His research and teaching interests lie in the areas of Credit Risk, Banking, Financial Econometrics, and Credit Risk Derivatives.
October 2009
The paper "An Anatomy of Commodity Futures Risk Premiums" by Marta Szymanowska (co-authored by Frans de Roon, Theo Nijman, and Rob van den Goorbergh) has been selected for presentation at the 2010 American Finance Association (AFA) Annual Meeting, in Atlanta.
September 2009
Lars Norden starts as assistant professor at RSM's finance department. Lars has a Ph.D. from the University of Manheim. His research and teaching interests lie in the areas of Financial Institutions, Empirical Banking, Empirical Finance, and Credit Risk Transfer.
August 2009
Buhui Qiu starts as an assistant professor at RSM's finance department. Buhui has a Ph.D. from the University of Cincinnati. His research and teaching interests lie in the areas of corporate finance, corporate governance, and financial institutions.
July 2009
The paper "The market reaction to cross-listings: Does the destination market matter?" by Mathijs van Dijk and Peter Roosenboom has been accepted for publication in the Journal of Banking and Finance.
June 2009
The paper "Asset Pricing Restrictions on Predictability: Frictions Matter" by Marta Szymanowska (co-authored by Frans de Roon) has been selected for presentation at the 2009 Western Finance Association (WFA) Annual Meeting in San Diego.
March 2009
Elvira Sojli’s paper (co-authored by Lucio Sarno) “Exchange Rate Forecasting, Order Flow and Macroeconomic Information” has been accepted for publication in the Journal of International Economics.
February 2009
Hao Jiang’s paper “Institutional Investors, Intangible Information and the Book-to-Market Effect” has been accepted for publication in the Journal of Financial Economics.
December 2008
The paper “Testing the Pecking Order Theory: The Impact of Financing Surpluses and Large Financing Deficits” by Abe de Jong, Patrick Verwijmeren and Marno Verbeek has been accepted for publication in Financial Management.