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19 February, 2020
Banken 2020: Zerrissen zwischen Tradition und Hightech

Jürgen Moormann

Aktuell befinden sich die europäischen – und insbesondere die deutschen – Banken in einem für die Branche einzigartigen Umbruch. Es ist die Kombination aus mehreren Trends, die das Bankgeschäft so radikal verändern.
1 October, 2019
Institutional Investors’ Views and Preferences on Climate Risk Disclosure
Zacharias Sautner
Financial market efficiency relies on timely and accurate information regarding firms’ risk exposures. An increasingly important risk exposure relates to climate change. Climate risks can originate from more severe and more frequent natural disasters, government regulation to combat a rise in temperature, or climate-related innovations that disrupt existing business models.
Mi experiencia como tutor con la Frankfurt School (FS) inició en junio de 2016. Después de trabajar en el area de administración de riesgos por varios años, tanto en Guatemala como en el exterior, la idea de trabajar con la Frankfurt School me causaba mucha emoción. Colaborar con una escuela de negocios alemana tan prestigiosa a nivel mundial también generaba expectativas muy altas. Sin embargo, después de estos primeros 3 años puedo felizmente afirmar que la emoción se mantiene y las expectativas fueron superadas.
20 May, 2019
Origins of e-campus: Certificado de Experto en Administración de Riesgos
Ricardo Estrada
12 March, 2019
What is sustainable finance?
Ulf Moslener
Basically a financial market is a machine that takes money from investors and distributes it to entre­preneurs that need money for their businesses. Those businesses promise a return to the investors. Depending on the business an in­vestment comes with a certain risk.
Investment to the tune of around $6.3 trillion per annum in core infrastructure, energy efficiency and energy production is required globally over the next 15 years. Making these infrastructure investments consistent with the goal to limit global temperature increase to 2°C as stated in the Paris Agreement requires an additional $600 billion per year and a major change in the composition of investment towards zero or low-carbon assets, climate resilient sectors, and adaptation infrastructure.
9 August, 2018
The Tragedy of the Horizon: A Mandate for Financial Sector Regulations?
Oliver Schenker
5 November, 2019
Sentimental Recovery

Grigory Vilkov

Financial markets are constantly evolving, providing investors with more efficient ways to trade, with instruments spanning more states of nature, making markets more complete. For example, in the last decade, instruments giving direct access to volatility, such as VIX futures, have shown an enormous gain in popularity.
22 January, 2019
Implications of Financial Innovation for Capital Markets and Household Welfare

Grigory Vilkov

Financial markets are being transformed by the rapid pace of financial innovation, which makes available new asset classes (The new asset classes into which households can invest include hedge funds, private equity, emerging-market equity and debt, mezzanine and distressed debt, real estate, infrastructure, commodities, and cryptocurrencies) and financial products with increasingly complex payoff structures (for an example of a structured product designed to increase household participation in the stock market by offering downside protection, see Calvet, Celerier, Sodini, and Vallee (2017).
26 July, 2018
This time’s the same: Eurozone sovereign and financial sector credit risk
Prof. Dr. Sascha Steffen
The Belgium lender Dexia was a quintessential example with respect to risk-taking behavior of large European banks during the 2007-2009 global financial and subsequent European sovereign debt crisis. Towards the end of 2010, Dexia had built a huge portfolio of risky sovereign bonds (issued by Greece, Ireland, Italy, Portugal and Spain (GIIPS)) after yields have widened substantially betting on a compression of sovereign bond yields to pre-crisis levels.
Simplicity is everything! According to Ockham's razor or "law of parsimony," among competing hypotheses, the one with the fewest assumptions should be selected. What can be simpler than an equal-weighted portfolio?
15 September, 2017
Why Does an Equal-Weighted Portfolio Outperform Value- and Price-Weighted Portfolios?
Grigory Vilkov
20 September, 2016
Abschaffung des Bargelds – eine Geisterdebatte
Jürgen Moormann
Die Regierung (ersatzweise die EZB, „die Banken“ oder schwarze Mächte) will das Bargeld abschaffen! Dieser Panikruf schallt durch Talk-Shows und Gazetten. Demnach gibt es demnächst keine
Cross-border mergers and acquisitions (M&A) have become increasingly important, comprising, in terms of deal value, about 40% of all M&A. Yet, cross-border deals are exposed to severe problems
27 July, 2016
Do Private-Equity Firms Create Value in Cross-Border M&A?
Zacharias Sautner
22 January, 2019
Banks must become technology companies

Jürgen Moormann

The times in which the use of information technology was limited to the back office, simple consulting programs and the provision of digital customer interfaces are finally over. Digitization - and thus the use of "smart" technologies - has spread to the entire banking business. As a result, the demands placed on managers and employees are changing fundamentally.
18 December, 2018
Expected Correlation and Future Market Returns

Grigory Vilkov

Option prices, by construction, reflect investors’ expectations about future price movements, and, hence, measures of risk extracted from index options are natural candidates for predicting future market returns. However, empirical evidence also suggests that information about the comovement of individual stocks, jointly extracted from index options and the cross-section of individual stock options, can be used to predict future market returns.
21 June, 2016
How do Contracts between Firms address Opportunistic Behavior?
Zacharias Sautner
Contracts between firms are at the heart of economics. In a new paper, me and my co-author Rajkamal Iyer from MIT Sloan School of Management study how contracts between buyers and sellers are
When surveyed, the vast majority of top executives attest that they would cut or delay long-term investment projects to meet upcoming performance targets. In a new paper me and my coauthor
25 February, 2016
Do top executives behave myopically?
Zacharias Sautner
Banken 2020: Zerrissen zwischen Tradition und Hightech
19 February, 2020
Jürgen Moormann
Institutional Investors’ Views and Preferences on Climate Risk Disclosure
1 October, 2019
Zacharias Sautner
Origins of e-campus: Certificado de Experto en Administración de Riesgos
20 May, 2019
Ricardo Estrada
Sentimental Recovery
5 November, 2019
Grigory Vilkov
What is sustainable finance?
12 March, 2019
Ulf Moslener
The Tragedy of the Horizon: A Mandate for Financial Sector Regulations?
9 August, 2018
Oliver Schenker
Implications of Financial Innovation for Capital Markets and Household Welfare
22 January, 2019
Grigory Vilkov
This time’s the same: Eurozone sovereign and financial sector credit risk
26 July, 2018
Prof. Dr. Sascha Steffen
Why Does an Equal-Weighted Portfolio Outperform Value- and Price-Weighted Portfolios?
15 September, 2017
Grigory Vilkov
Banks must become technology companies
22 January, 2019
Jürgen Moormann
Abschaffung des Bargelds – eine Geisterdebatte
20 September, 2016
Jürgen Moormann
Do Private-Equity Firms Create Value in Cross-Border M&A?
27 July, 2016
Zacharias Sautner
Expected Correlation and Future Market Returns
18 December, 2018
Grigory Vilkov
How do Contracts between Firms address Opportunistic Behavior?
21 June, 2016
Zacharias Sautner
Do top executives behave myopically?
25 February, 2016
Zacharias Sautner