Research
The Finance Group consists of the Institute of Corporate Finance and the Institute of Financial Economics. Current research interests include corporate risk management and capital structure policy, risk-sharing between firms' financial and non-financial stakeholders, the pricing of risky assets, mutual funds, and credit rating agencies.
Working papers
The politics of related lending, 2010, Alex Stomper with M. Halling and P. Pichler
Conditioning and updating under cumulative prospect theory, 2010, Alex Stomper with M.L. Vierø.
Primary market design in the presence of when-issued markets, 2010, Alex Stomper with P. Pichler.
Strategic Risk Management and Product Market Competition, Tim Adam with Amrita Nain, August 2009
Why Do Firms Hedge Selectively? Evidence from the Gold Mining Industry, Tim Adam with Chitru Fernando and Jesus Salas, March 2008.
Managerial Biases and Corporate Risk Management, Tim Adam with Chitru Fernando and Evgenia Golubeva, May 2008.
The Use of Credit Default Swaps by U.S. Fixed-Income Mutual Funds, Tim Adam with André Güttler.
Publications in refereed journals
A Certification Model for Regulatory Arbitrage: Will Regulatory Arbitrage persist under Basel III?, Journal of Fixed Income, Fall 2011, pp. 39-56. Tobias Berg with Bernhard Gehra and Michael Kunisch
Snow and leverage, Alex Stomper with X. Giroud, H. Mueller, and A. Westerkamp, Review of Financial Studies, 2012, Vol.25 (3), pp. 680-710.
From actual to risk-neutral default probabilities: Merton and beyond, Tobias Berg, Journal of Credit Risk, 2010, Vol. 6(1), pp. 55-86.
The Term Structure of Risk Premia: New Evidence from the Financial Crisis, Tobias Berg, ECB Working Paper, 2010, No. 1165, 2010.
Capital Expenditures, Financial Constraints, and the Use of Options, Tim Adam, Journal of Financial Economics, 2009, Vol. 92(2), pp. 238-251.
Can Companies Use Hedging Programs to Profit from the Market? Evidence from Gold Producers, Tim Adam with Chitru Fernando, Journal of Applied Corporate Finance, 2008, Vol. 20(4), pp. 91-102.
The Investment Opportunity Set and its Proxy Variables: Theory and Evidence, Tim Adam with Vidhan Goyal, Journal of Financial Research, 2008, Vol. 31(1), pp. 41-63
Why leverage affects pricing, Alex Stomper with P. Pichler and C. Zulehner, 2008, Review of Financial Studies, Vol. 21(4), pp. 1733-1765.
Financial Constraints, Competition, and Hedging in Industry Equilibrium, Tim Adam with Sudipto Dasgupta and Sheridan Titman, Journal of Finance, 2007, Vol. 62(5).
Hedging, Speculation and Shareholder Value, Tim Adam with Chitru Fernando, Journal of Financial Economics, 2006, Vol. 81, pp. 283-309.
IPO pricing with bookbuilding and a when-issued market, Alex Stomper, 2006, Journal of Financial and Quantitative Analysis, Vol. 41(4), pp. 829-862.
A theory of banks' industry expertise, market power, and credit risk, Alex Stomper, 2006, Management Science 52(10), pp. 1618-1633.
Risk Management and the Credit Risk Premium, Tim Adam, Journal of Banking and Finance, Feb 2002, Vol. 26/2-3, pp. 243-269.
Do Firms Use Derivatives to Reduce Their Dependence on External Capital Markets?, Tim Adam, Review of Finance (formerly European Finance Review), 2002, Vol. 6 No. 2, pp. 163-187.
Capital structure, information acquisition, and investment decisions in an industry framework, Alex Stomper, Review of Finance, 1999, Vol. 2, pp. 251-271.
Book chapters
The separation of ownership and control: an Austrian perspective, Alex Stomper with K. Gugler, S. Kalss and J. Zechner, in Becht, M., and C. Mayer (ed.), The control of corporate Europe, Oxford University Press
