Publications & Forthcoming Papers
- Trends in Corporate Borrowing
Annual Review of Financial Economics, forthcoming
Co-authored with T. Berg and A. Saunders
[Paper SSRN] [Slides] - Kicking the can down the road: government interventions in the European banking sector
Review of Financial Studies, forthcoming
Co-authored with V. Acharya, L. Borchert and M. Jager
[NBER Working Paper No. 27537] [SSRN] [Slides]
Government Bailout Data (xls) - “Brexit” and the Contraction of Syndicated Lending
Journal of Financial Economics, forthcoming
Co-authored with T. Berg, A. Saunders, and L. Schäfer - The Wolves of Wall Street? Managerial Attributes and Bank Risk
Journal of Financial Intermediation, forthcoming
Co-authored with J. Hagendorff, A. Saunders, and F. Vallascas
- Lender of Last Resort, Buyer of Last Resort, and a Fear of Fire Sales in the Sovereign Bond Market"
Financial Markets, Institutions, and Instruments, forthcoming
Co-authored with V. Acharya and D. Pierret
[Paper SSRN] - Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?
Journal of Financial Economics, 2020, 138 (2), 342-365
Co-authored with V. Acharya, B. Imbierowicz, and D. Teichmann
[Online Appendix] [Paper SSRN] - The risk of being a fallen angel and the corporate dash for cash in the midst of COVID
Review of Corporate Finance Studies, 2020, 9 (3), 430–471
Co-authored with V. Acharya
[Paper SSRN]
- The Zero Risk Fallacy - Banks' Sovereign Exposure and Sovereign Risk Spillovers
Journal of Financial Stability, 2020.
Co-authored with K. Kirschenmann and J. Korte
- 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
[Online Appendix] [Slides] [Paper SSRN] - Syndication, Interconnectedness and Systemic Risk
Journal of Financial Stability, 2018, 34, 105-120.
Co-authored with J. Cai, F. Eidam and A. Saunders
[Paper SSRN] - Covenant Violations and Dynamic Loan Contracting
Journal of Corporate Finance, 2017, 45, 540-565
Co-authored with F. Freudenberg, B. Imbierowicz and A. Saunders
[Paper SSRN] - 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
[Paper SSRN] - 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
[Paper SSRN] - 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
[Paper SSRN] [Online Appendix]
[Variable descriptions] [How to extract fee information from Dealscan (do file)]
[Hand-collected fee data from SEC filings] [TCB calculation (do file)] [TCB measure (stata file)] - 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
- 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 - The Costs of Being Private: Evidence from the Loan Market
Review of Financial Studies, 2011, 24 (12), 4091 – 4122
Co-authored with A. Saunders
[Online Appendix] [Paper SSRN] - 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).] - 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
- Government Guarantees and Bank Risk Taking Incentives
Journal of Financial Intermediation, 2016, R&R
Co-authored with M. Fischer, C. Hainz and J. Rocholl - Why did bank stocks crash during COVID-19?
Co-authored with V. Acharya and R. Engle
[Paper on SSRN] [NBER]
Working Papers
- Corporate loan spreads and economic activity (NEW)
Co-authored with A. Saunders, A. Spina and D. Streitz
[Paper on SSRN] [Presentation (Nov 2020)]
- Capital Misallocation and Innovation (NEW)
Co-authored with C. Schmidt, Y. Schneider and D. Streitz
[Paper on SSRN]
- Are risky banks rationed by corporate depositors? (NEW)
Co-authored with B. Imbierowicz, and A. Saunders
[Paper on SSRN]
- Similar Investors
2020
Co-authored with C. Georg and D. Pierret - Loan Syndication Structures and Price Collusion
2019,
Co-authored with J. Cai, F. Eidam, A. Saunders and Y. Schneider