Publications

• "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.