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Private Finance

The Private Finance cluster brings together all the activities of the Centre of Finance that deal with the investment and financing problems of private households. Both the investment and credit decisions of private investors and the topic of private pension provision are dealt with both theoretically and empirically from the perspective of private investors and financial services companies.

Specific research topics within this cluster include

  • Investment and asset management for private investors
  • Private pension provision (pension finance)
  • Influence of taxes on private investment decisions
  • Behavioural finance
  • Property financing
  • Theoretical and empirical analysis of financial instruments specifically tailored to private investors, such as exchange-traded funds, certificates, lottery bonds, federal treasury bonds, etc.
  • Company valuation (extra-financial information, methodological issues, empirical dissemination, financial analysts, etc.)
  • Private investor relations of stock corporations
  • M & A in general and fairness opinions in particular
  • Initial public offerings

The chairs of Prof. Röder (cluster spokesperson), Prof. Sebastian and Prof. Dorfleitner are particularly involved in the cluster and have written various publications on the above-mentioned topics in respected specialist journals.


The following courses can be assigned to this cluster:

  • Investment and Asset Management
  • Financial Management
  • Property investment
  • Capital market management

The participants in the cluster work together with practitioners within the framework of cooperation and consulting as well as in the field of training and continuing education, among other things:

  • Value investing with the Value Group, Munich
  • Fairness opinion with Oppenhoff & Rädler Corporate Finance, Munich and Duff & Phelps, Munich
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