Publications & Forthcoming Papers

1. A Capital Structure Channel of Monetary Policy
   Journal of Financial Economics, 2019, 133 (2), 357-378
   Co-authored with B. Grosse-Rueschkamp and D. Streitz
   
   
2. Syndication, Interconnectedness and Systemic Risk
   Journal of Financial Stability, 2018, 34, 105-120.
   Co-authored with J. Cai, F. Eidam and A. Saunders
   
   
3. Covenant Violations and Dynamic Loan Contracting
   Journal of Corporate Finance, 2017, 45, 540-565
   Co-authored with F. Freudenberg, B. Imbierowicz and A. Saunders
   
   
4. What do a million observations have to say about loan defaults?
   Opening the black of box of relationships
   Journal of Financial Intermediation, 2017, 31, 1-15 (Lead Article)
   Co-authored with M. Puri and J. Rocholl
   
   
5. Mind the Gap: The Difference between US and European Loan Rates 
   Review of Financial Studies, 2017, 30 (3): 948-987
   Co-authored with T. Berg, A. Saunders and D. Streitz
   
   
6. The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees 
   Journal of Finance, 2016, 71 (3), 1357-1392
   Co-authored with T. Berg and A. Saunders
   
   
7. The "Greatest" Carry Trade Ever? Understanding Eurozone Bank Risks
   Journal of Financial Economics, 2015, 115 (2), 215-236 (Lead Article)
   Co-authored with V. Acharya​
   ​
8. Do Information Rents in Loan Spreads Persist over the Business Cycle?
   Journal of Financial Services Research, 2013, 43, 175–195
   Co-authored with J. Mattes and M. Wahrenburg
   
   
9. The Costs of Being Private: Evidence from the Loan Market 
   Review of Financial Studies, 2011, 24 (12), 4091 – 4122
   Co-authored with A. Saunders
   
   
10. Global Retail Lending in the Aftermath of the US Financial Crisis:
    Distinguishing between Demand and Supply Effects 
    Journal of Financial Economics , 2011, 100 (3), 556 - 578
    Co-authored with M. Puri and J. Rocholl
    
    [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).]
    
    
11. On Syndicate Composition, Corporate Structure and the Certification Effect
    of Credit Ratings
    Journal of Banking and Finance, 2010, 35, 290 - 299
    Co-authored with O. Bosch

Submitted Papers

1. Does Lack of Financial Stability Impair the Transmission of Monetary Policy?
   ​Journal of Financial Economics, 2019, R&R 
   Co-authored with V. Acharya, B. Imbierowicz, and D. Teichmann​
   
   
2. Kicking the can down the road: government interventions in the European banking sector 
   Review of Financial Studies, 2019, R&R
   Co-authored with V. Acharya and L. Steinruecke
   
   
3. “Brexit” and the Contraction of Syndicated Lending
   Journal of Financial Economics, 2019, R&R
   Co-authored with T. Berg, A. Saunders, and L. Schäfer
   
   
4. Government Guarantees and Bank Risk Taking Incentives 
   Journal of Financial Intermediation, 2016, R&R
   Co-authored with M. Fischer, C. Hainz and J. Rocholl
   
   
5. The Wolves of Wall Street? How Bank Executives Affect Bank Risk Taking
   2019
   Co-authored with J. Hagendorff, A. Saunders, and F. Vallascas
   
   
6. The Zero Risk Fallacy  - Banks' Sovereign Exposure and Sovereign Risk Spillovers
   2019
   Co-authored with K. Kirschenmann and J. Korte

Working Papers

1. Lender of Last Resort versus Buyer of Last Resort - Evidence from the
   European Sovereign Debt Crisis
   2018
   Co-authored with V. Acharya and D. Pierret
   
   
2. Similar Investors
   2019
   Co-authored with C. Georg and D. Pierret
   
   
3. Loan Syndication Structures and Price Collusion
   2019,
   Co-authored with J. Cai, F. Eidam, A. Saunders and Y. Schneider