PROFIL
Forschungsschwerpunkte
- Empirical Finance
- Asset Pricing and Portfolio Selection
- Sustainable Finance
- The Relation between Accounting Information and Stock Returns
- Value Investing
AWARDS
Among the Top 50 Researchers in Business Administration under 40 Years in the German Language Area according to the WirtschaftsWoche Ranking 2022, Rank #15.
CFA Germany Runner-Up Investment Research Award 2021.
Among the Top 50 Researchers in Business Administration under 40 Years in the German Language Area according to the WirtschaftsWoche Ranking 2020, Rank #16.
Among the Top 100 Researchers in Business Administration in the German Language Area according to the WirtschaftsWoche Ranking 2019, Rank #44.
ACATIS Value Prize 2015
Award for "Identifying Actually Undervalued Value Stocks and Overvalued Growth Stocks" as excellent research in value investing.
EFM Best Paper Award 2014 of the European Financial Management Association
Award for "The Alternative Three-Factor Model: An Alternative beyond U.S. Markets?" as excellent financial research.
ACATIS Value Prize 2014
Award for "The Declaration of Dependence of Value" as excellent research in value investing.
ACATIS Value Prize 2013
Award for "The High Returns to Low Volatility Stocks are Actually a Premium on High Quality Firms" as excellent research in value investing.
Best Paper Award of the Campus for Finance Research Conference 2013
Award for "Yes, Value Investors Do Recommend Value Stocks, and They Are Profitable, too!" as excellent financial research.
ACATIS Value Prize 2012
Award for "Yes, Value Investors Do Recommend Value Stocks, and They Are Profitable, too!" as excellent research in value investing.
ACATIS Value Prize 2011
Award for "Value is Dead, Long Live Value" as excellent research in value investing.
ACATIS Value Prize 2010
Award for "Global Return Patterns" as excellent research in value investing.
ACATIS Value Prize 2009
Award for "Fundamental Indexing around the World" as excellent research in value investing.
PUBLIKATIONEN
2024
Finanzielle Nachhaltigkeit: Kennzahlen, empirische Evidenz und praktische Anwendung
in: Controlling - Zeitschrift für erfolgsorientierte Unternehmenssteuerung 1/2024, pp. 4-13.
Coauthor(s): Thomas Günther, Deborah Yvonne Fuhrmann and Werner Gleißner
2022
Finanzielle Nachhaltigkeit, ESG and Value Investing
in: Corporate Finance 11-12/2022, pp. 324-330.
Coauthor(s): Werner Gleißner and Thomas Günther
Financial Sustainability: Measurement and Empirical Evidence
in: Journal of Business Economics 92(3), 2022, pp. 467-516.
Coauthor(s): Werner Gleißner and Thomas Günther
2021
Carbon Momentum
in: Journal of Impact and ESG Investing 2(1), 2021, pp. 33-46.
Wie das Goodwill-Risiko die Unternehmensperformance beeinflusst
in: Corporate Finance 9-10/2021, pp. 295-300.
Predicting Stock Returns from the Pricing and Mispricing of Accounting Fundamentals
in: Quarterly Review of Economics and Finance 81, 2021, pp. 253-260.
2020
What Happened to Financially Sustainable Firms in the Corona Crisis?
in: Sustainability Management Forum 28(3-4), pp. 83-90.
Coauthor(s): Thomas Günther and Werner Gleißner
Piotroski's FSCORE: International Evidence
in: Journal of Asset Management 21(2), pp. 106-118.
Defensive Aktien: The Conservative Formula für Euro-Anleger
in: Corporate Finance 5-6/2020, pp. 153-159.
2019
The Fundamentals of Momentum Investing: European Evidence on Understanding Momentum through Fundamentals
in: Accounting & Finance 59, 2019, pp. 831-857.
Separating Momentum from Reversal in International Stock Markets
in: Journal of Asset Management 20(2), 2019, pp. 111-123.
Coauthor(s): Florian Weißofner and Ulrich Wessels
2018
Dissecting the Performance of Socially Responsible Firms
in: Journal of Investing 27(2), 2018, pp. 29-40.
Erfolgreiche Value-Anlagestrategien durch risiko- und ratinggerechte Unternehmensbewertung
in: Corporate Finance 5-6/2018, pp. 161-171.
Coauthor(s): Werner Gleißner
International Islamic Funds
in: Review of Financial Economics 36(1), 2018, pp. 72-80.
Coauthor(s): Kathrin Lesser
The Cash Premium in International Stock Returns
in: Journal of Asset Management 19(1), 2018, pp. 3-12.
2017
Zur Prognose von Marktrenditen mittels fundamentaler Bewertungskennzahlen
in: Corporate Finance 7-8/2017, pp. 197-202.
Expectation Errors in European Value-Growth Strategies
in: Review of Finance 21(2), 2017, pp. 845-870.
2016
Mispricing and the Five-Factor Model
in: Economics Letters 147, 2016, pp. 99-102.
International Socially Responsible Funds: Financial Performance and Managerial Skills during Crisis and Non-crisis Markets
in: Problems and Perspectives in Management 14(3), 2016, pp. 17-28.
Coauthor(s): Kathrin Lesser and Felix Rößle
Socially Responsible, Green, and Faith-based Investment Strategies: Screening Activity Matters!
in: Finance Research Letters 16, 2016, pp. 171-178.
Coauthor(s): Kathrin Lesser and Felix Rößle
Vice versus Virtue Investing around the World
in: Review of Managerial Science 10(2), 2016, pp. 303-344.
Coauthor(s): Sebastian Lobe
Rationale Renditeprognosen: Die nächsten zehn Jahre am deutschen Aktienmarkt
in: Corporate Finance 1-2/2016, pp. 7-12.
Net Payout Yields and the Cross-Section of International Stock Returns
in: Journal of Asset Management 17(1), 2016, pp. 57-67.
2015
The Enterprise Multiple Investment Strategy: International Evidence
in: Journal of Financial and Quantitative Analysis 50(4), 2015, pp. 781-800.
Coauthor(s): Sebastian Lobe
Equity Financing Activities and European Value-Growth Returns
in: Journal of Banking & Finance 57, 2015, pp. 27-40.
2014
International Low-Risk Investing
in: Journal of Portfolio Management 41(1), 2014, pp. 45-56.
Green and Socially Responsible Investing in International Markets
in: Journal of Asset Management 15(5), 2014, pp. 317-331.
Coauthor(s): Kathrin Lesser and Sebastian Lobe
A Reexamination of the Issuance and Investment Anomalies in International Markets
in: Schmalenbach Business Review 66 (July 2014), pp. 245-275.
Coauthor(s): Sebastian Lobe
The MAX Effect: European Evidence
in: Journal of Banking & Finance 42, 2014, pp. 1-10.
Risikoreduzierende Aktienindizes: Konstruktion und Performance
in: Corporate Finance 4/2014, pp. 168-173.
Coauthor(s): Jesse Bönniger
Style Investing: Erfolgreich investieren mit Stil
in: Corporate Finance 3/2014, pp. 124-128.
Responsible Investment in Germany, Austria, and Switzerland
in: Problems and Perspectives in Management 12(1), 2014, pp. 209-217.
Coauthor(s): Sebastian Lobe
The Alternative Three-Factor Model: An Alternative beyond US Markets?
in: European Financial Management 20(1), 2014, pp. 33-70.
Coauthor(s): Sebastian Lobe
2013
The High Returns to Low Volatility Stocks are Actually a Premium on High Quality Firms
in: Review of Financial Economics 22(4), 2013, pp. 180-186.
Fundamentalrisiken und Aktienrenditen: Auch hier gilt, mit weniger Risiko zu einer besseren Performance
in: Corporate Finance biz, 03/2013, pp. 119-123.
2012
Islamic Equity Investing: Alternative Performance Measures and Style Analysis
in: Journal of Investing 21(4), 2012, pp. 182-189.
Coauthor(s): Sebastian Lobe
The Price of Faith: Performance, Bull and Bear Markets, and Screening Effects of Islamic Investing around the Globe
in: Journal of Investing 21(4), 2012, pp. 153-164.
Coauthor(s): Felix Rößle and Sebastian Lobe
Die Volatilitätsanomalie auf dem deutschen Aktienmarkt: Mit weniger Risiko zu einer besseren Performance
in: Corporate Finance biz, 2/2012, pp. 81-86.
Islamic Investing
in: Review of Financial Economics, Vol. 21(2), 2012, pp. 53-62.
Coauthor(s): Sebastian Lobe
2011
Die Performance der Luxusgüterindustrie - Eine internationale Untersuchung
in: Corporate Finance biz, 7/2011, pp. 404-408.
Coauthor(s): Stefanie Meier and Klaus Röder
2010
Die Kapitalerhöhung der Dräger AG: Bewertung mittels Preis-Extraktion
in: Corporate Finance biz, 8/2010, pp. 504-508.
Coauthor(s): Klaus Röder
Fundamental Indexing around the World
in: Review of Financial Economics 19(3), 2010, pp. 117-127.
Coauthor(s): Sebastian Lobe
2009
Vilmaris - Ein ungewöhnlicher Börsengang
in: Finanz Betrieb, 11/2009, pp. 605-607.
Coauthor(s): Klaus Röder
2008
SPACs: Struktur, Performance und Bewertung
in: Finanz Betrieb, 10/2008, pp. 641-645.
Coauthor(s): Klaus Röder
Das Maßgeblichkeitsprinzip - historische Entwicklungen und künftige Herausforderungen
VDM Verlag Dr. Müller, Saarbrücken.
PRESSE
Nachhaltigkeit neu gedacht,
Feature, in: Institutional Money, Ausgabe 1/2023, S. 164-170.
Anleger sollten langfristig investieren,
Interview, in: Profits - Das Unternehmermagazin der Sparkassen-Finanzgruppe, Ausgabe 04/2016, S. 47.
Einfach gut
Interview, in: Euro Magazin, Ausgabe 09/2015, S. 70-73.
Practical Applications of International Low-Risk Investing
Interview, in: Practical Applications 3(1), 2015.
Einfach währt am längsten
Feature, in: Börse Online, Ausgabe 47/2014, S. 39.
Feature, in: Euro Magazin, Ausgabe 12/2014, S. 115.
Von wegen effiziente Märkte
Feature, in: Euro Magazin, Ausgabe 12/2013, S. 100-101.
Ausgezeichnete Finanzforschung
Pressemitteilung der Universität Regensburg vom 01.10.2013.
Ausgezeichnete Value Investing-Forschung
Pressemitteilung der Universität Regensburg vom 10.10.2012.
How Does Islamic Criteria Impact Performance?
Feature, in: Sarasin Islamic Wealth Management Report 2012, S. 27.
Kapitalmarktforschung mit Auszeichnung
Pressemitteilung der Universität Regensburg vom 21.09.2011.
Fundamental Indexing, Nette Idee - schlecht umgesetzt
Feature, in: Capital Investor, Ausgabe 29/2010, S. 36.
Fundamental Indexing, Ansatz nicht ohne Kritik
Interview, in: Institutional Money, Ausgabe 2/2010, S. 71.
