selected publications

Selected publications: [T]=Theory, [E]=Evidence, [D]=DNA

[E] The politics of related lending, with M. Halling and P. Pichler.
Journal of Financial and Quantitative Analysis, 2016, 51(1), 333-358.  [paper]

[D] Moritz, 2015, with D. Gurski.

[D] Eva, 2013, with D. Gurski.

[E] Snow and leverage, with X. Giroud, H. Mueller, and A. Westerkamp.
Review of Financial Studies
, 2012, 25(3), 680-710.  [paper] [NBER version]

[T/E] Why leverage affects pricing, with P. Pichler and C. Zulehner.
Review of Financial Studies, 2008, 21(4), 1733-1765.  [paper]

[E] IPO pricing with bookbuilding and a when-issued market,
with W. Aussenegg and P. Pichler.
Journal of Financial and Quantitative Analysis 41(4), 2006 829-862. [paper]

[T] A theory of banks' industry expertise, market power, and credit risk. Management Science 52(10), 2006, 1618-1633. [paper]
(This paper is based on my PhD thesis.)

[T] Capital structure, information acquisition, and investment decisions in an industry framework, with V. Maksimovic and J. Zechner.
Review of Finance
2, 1999, 251-271. [paper]