Publications & forthcoming papers
- "A Capital Structure Channel of Monetary Policy" with Benjamin Grosse-Rueschkamp and Daniel Streitz
forthcoming in the Journal of Financial Economics.
- "Syndication, Interconnectedness and Systemic Risk", with Jian Cai, Frederik Eidam and Anthony Saunders, Journal of Financial Stability, conditionally accepted 2017.
- Covenant Violations and Dynamic Loan Contracting", with Felix Freudenberg, Bjoern Imbierowicz and Anthony Saunders, Journal of Corporate Finance 45 (August 2017), 540-565.
- "What do a million observations have to say about loan defaults? Opening the black of box of relationships” with Manju Puri and Joerg Rocholl,, Journal of Financial Intermediation, forthcoming, 2017.
- "Mind the Gap: The Difference between US and European Loan Rates", with Tobias Berg, Anthony Saunders and Daniel Streitz, Review of Financial Studies, 2017, 30 (3): 948-987..
- "The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees", with T. Berg and A. Saunders, 2016, Journal of Finance,Vol. 71(3), 1357-1392.
- "The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks", with V. V. Acharya, Journal of Financial Economics 115 (2), 2015, 215 - 236. (Lead Article)
- “Do Information Rents in Loan Spreads Persist over the Business Cycle?” with J. Mattes and M. Wahrenburg, Journal of Financial Services Research, (43), 2013, 175–195.
- “The Costs of Being Private: Evidence from the Loan Market", with A. Saunders, Review of Financial Studies, 24 (12), 2011, 4091 – 4122. Online Appendix
- “Global Retail Lending in the Aftermath of the US Financial Crisis: Distinguishing between Demand and Supply Effects”, with M. Puri and J. Rocholl, Journal of Financial Economics 100(3), 2011, 556 - 578.
[Also mentioned in Gorton, G. and A. Metrick (2012), "Getting Up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide", JEL: Vol. 50 No. 1 (March 2012).]
- “On Syndicate Composition, Corporate Structure and the Certification Effect of Credit Ratings”, with O. Bosch, Journal of Banking and Finance, 35, 2010, 290 - 299.
- “Does Lack of Financial Stability Impair the Transmission of Monetary Policy?” with Viral V. Acharya, Bjorn Imbierowicz, and Daniel Teichmann, being revised for resubmission to the Journal of Financial Economics, September 2017
- "Kicking the can down the road: government interventions in the European banking sector", with Viral V. Acharya and Lea Steinruecke., being revised for resubmission to the Review of Financial Studies, October 2018
- "Government Guarantees and Bank Risk Taking Incentives”, with Markus Fischer, Christa Hainz and Joerg Rocholl, being revised for resubmission to the Journal of Financial Intermediation, 2016.
- “Brexit” and the Contraction of Syndicated Lending, with Berg, T., A. Saunders, L. Schäfer, 2018.
Conferences: FIRS, 2017. NBER SI Corporate Finance 2018
- "The Wolves of Wall Street? How Bank Executives Affect Bank Risk Taking" with J. Hagendorff, A. Saunders, and F. Vallascas, April 2018
SFS Cavalcade 2016, NBER SI Risk 2016
- "The Zero Risk Fallacy - Banks' Sovereign Exposure and Sovereign Risk Spillovers", with Karolin Kirschenmann and Josef Korte, February, 2017.
- "Lender of Last Resort versus Buyer of Last Resort - Evidence from the European Sovereign Debt Crisis" with Viral V. Acharya and D. Pierret, 2017.
- "Loan Syndication Structures and Price Collusion", with Jian Cai, Frederik Eidam and Anthony Saunders,
- "Why do Corporate Depositors Risk Everything for Nothing? The Importance of Deposit Relationships, Interest Rates and Bank Risk." with Friedmann, D., B. Imbierowicz, A. Saunders, 2017.
Conferences: AFA (2018), EFA (2017)
- "Rules versus Discretion in Bank Lending Decisions” , with Manju Puri and Joerg Rocholl, 2012.