Research profile and representative publications

Here is a brief outline of my work in academic research, with pointers to a few representative projects. [T] points to a theory paper, [E] to an empirical analysis.

I have published in journals such as Management Science, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, the Review of Finance, and PNAS. Most of these publications contribute to the literature on financial economics, but I also have done some work in other fields, e.g., decision theory [T].

In my core research, I analyze how the financial system interacts with other parts of the economy. One example for this is a paper analyzing "real" effects of financial distress and its resolution on the operating performance of small firms [E]. Other representative papers analyze the effects of financial structure on competition in non-financial industries [T/E], and the equilibrium in markets for bank loans when banks anticipate that lending to a borrower can reduce the profitability of loans granted to competitors of this borrower [T].

A number of my past research projects focus on risks associated with the weather and climate change. I use this expertise to support a group of young researchers working on the financial implications of climate change. For more information about our research agenda, go to ISQD.