Rüdiger Fahlenbrach

Ecole Polytechnique Fédérale de Lausanne

Swiss Finance Institute Associate Professor

Quartier UNIL-Dorigny

Extranef 211

1015 Lausanne, CH-1015

Switzerland

http://sfi.epfl.ch/fahlenbrach.html

Swiss Finance Institute

c/o University of Geneva

40, Bd du Pont-d'Arve

CH-1211 Geneva 4

Switzerland

SCHOLARLY PAPERS

21

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469

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Scholarly Papers (21)

1.
Downloads 6,099 ( 1,024)

Bank CEO Incentives and the Credit Crisis

Journal of Financial Economics (JFE), Forthcoming, Charles A Dice Center Working Paper No. 2009-13, Fisher College of Business Working Paper No. 2009-03-13, Swiss Finance Institute Research Paper No. 09-27, ECGI - Finance Working Paper No. 256/2009
Number of pages: 43 Posted: 28 Jul 2009 Last Revised: 27 Sep 2010
Rüdiger Fahlenbrach and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 5,881 (1,081)

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Financial crisis, CEO compensation, CEO incentives, Insider trading

Bank CEO Incentives and the Credit Crisis

NBER Working Paper No. w15212
Number of pages: 34 Posted: 11 Aug 2009 Last Revised: 27 Jul 2010
Rüdiger Fahlenbrach and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 218 (137,090)

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Do Independent Director Departures Predict Future Bad Events?

Fisher College of Business Working Paper No. 2010-03-007, Charles A. Dice Center Working Paper No. 2010-7, Swiss Finance Institute Research Paper No. 10-17, ECGI - Finance Working Paper No. 281/2010
Number of pages: 52 Posted: 12 Apr 2010 Last Revised: 18 Dec 2015
Rüdiger Fahlenbrach, Angie Low and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Nanyang Technological University - Division of Banking & Finance and Ohio State University (OSU) - Department of Finance
Downloads 1,695 (9,133)

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Director departures, reputational concerns, director monitoring

Do Independent Director Departures Predict Future Bad Events?

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 281/2010
Number of pages: 57 Posted: 19 Mar 2016
Rüdiger Fahlenbrach, Angie Low and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Nanyang Technological University - Division of Banking & Finance and Ohio State University (OSU) - Department of Finance
Downloads 160 (182,103)

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Director departures, reputational concerns, director monitoring

The Dark Side of Outside Directors: Do They Quit When They are Most Needed?

NBER Working Paper No. w15917
Number of pages: 43 Posted: 19 Apr 2010 Last Revised: 21 Dec 2015
Rüdiger Fahlenbrach, Angie Low and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Nanyang Technological University - Division of Banking & Finance and Ohio State University (OSU) - Department of Finance
Downloads 79 (304,786)

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3.

Founder-Ceos, Investment Decisions, and Stock Market Performance

Dice Center Working Paper No. 2004-20, Journal of Financial and Quantitative Analysis (JFQA), Forthcoming, Fisher College of Business Working Paper No. 2004-01-001
Number of pages: 51 Posted: 19 Oct 2004 Last Revised: 07 Aug 2008
Rüdiger Fahlenbrach
Ecole Polytechnique Fédérale de Lausanne
Downloads 1,627 (9,929)

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Founder-CEOs, managerial characteristics, corporate behavior

4.
Downloads 1,619 ( 10,002)

Large Shareholders and Corporate Policies

AFA 2007 Chicago Meetings Paper, Review of Financial Studies, Forthcoming, Fisher College of Business Working Paper No. 2006-03-004, EFA 2007 Ljubljana Meetings Paper, Charles A. Dice Center Working Paper No. 2006-14
Number of pages: 50 Posted: 16 Mar 2006 Last Revised: 11 Sep 2008
Henrik Cronqvist and Rüdiger Fahlenbrach
University of Miami - Department of Finance and Ecole Polytechnique Fédérale de Lausanne
Downloads 1,619 (9,824)

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Large shareholders, blockholders, corporate policies, firm performance

Large Shareholders and Corporate Policies

The Review of Financial Studies, Vol. 22, Issue 10, pp. 3941-3976, 2009
Posted: 28 Sep 2009
Henrik Cronqvist and Rüdiger Fahlenbrach
University of Miami - Department of Finance and Ecole Polytechnique Fédérale de Lausanne

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G31, G32, G34, G35

5.
Downloads 1,582 ( 10,397)

Shareholder Rights, Boards, and CEO Compensation

Charles A. Dice Center Working Paper No. 2008-5 and Fisher College of Business Working Paper No. 2008-03-004, Review of Finance, Forthcoming
Number of pages: 48 Posted: 08 May 2003 Last Revised: 07 Aug 2008
Rüdiger Fahlenbrach
Ecole Polytechnique Fédérale de Lausanne
Downloads 1,582 (10,191)

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Compensation, Corporate Governance, Governance Incentive Substitution

Shareholder Rights, Boards, and CEO Compensation

Review of Finance, Vol. 13, Issue 1, pp. 81-113, 2009
Posted: 17 Jan 2009
Rüdiger Fahlenbrach
Ecole Polytechnique Fédérale de Lausanne

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G32, G34, J33

6.
Downloads 1,451 ( 11,975)

Large Blocks of Stock: Prevalence, Size, and Measurement

Journal of Corporate Finance, pp. 594-618, June 2006
Number of pages: 29 Posted: 19 Jul 2004
Jennifer Dlugosz, Rüdiger Fahlenbrach, Paul A. Gompers and Andrew Metrick
Washington University in St. Louis - John M. Olin Business School, Ecole Polytechnique Fédérale de Lausanne, Harvard Business School - Finance Unit and Yale School of Management
Downloads 1,381 (12,722)

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Corporate governance, large shareholders, ownership

Large Blocks of Stock: Prevalence, Size, and Measurement

NBER Working Paper No. w10671
Number of pages: 29 Posted: 02 Sep 2004 Last Revised: 30 Aug 2010
Jennifer Dlugosz, Rüdiger Fahlenbrach, Paul A. Gompers and Andrew Metrick
Washington University in St. Louis - John M. Olin Business School, Ecole Polytechnique Fédérale de Lausanne, Harvard Business School - Finance Unit and Yale School of Management
Downloads 70 (329,692)

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This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis

Charles A. Dice Center Working Paper No. 2011-10 , Fisher College of Business Working Paper No. 2011-03-010, Swiss Finance Institute Research Paper No. 11-19, AFA 2012 Chicago Meetings Paper
Number of pages: 55 Posted: 07 Mar 2011 Last Revised: 12 Oct 2011
Rüdiger Fahlenbrach, Robert Prilmeier and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Tulane University - A.B. Freeman School of Business and Ohio State University (OSU) - Department of Finance
Downloads 1,200 (15,761)

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Financial crisis, systemic risk, bank returns, short-term funding, LTCM, Russian default

This Time is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis

NBER Working Paper No. w17038
Number of pages: 51 Posted: 16 May 2011
Rüdiger Fahlenbrach, Robert Prilmeier and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Tulane University - A.B. Freeman School of Business and Ohio State University (OSU) - Department of Finance
Downloads 52 (380,845)

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8.
Downloads 1,094 ( 18,517)

Managerial Ownership Dynamics and Firm Value

ECGI - Finance Working Paper No. 182/2007, Journal of Financial Economics (JFE), Forthcoming, Ohio State University, Fisher College of Business Working Paper No. 2007-03-013, Charles A. Dice Center Working Paper No. 2007-12
Number of pages: 49 Posted: 22 Jun 2007 Last Revised: 27 Sep 2010
Rüdiger Fahlenbrach and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 1,055 (19,156)

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Firm valuation, director and officer ownership, ownership dynamics

Managerial Ownership Dynamics and Firm Value

NBER Working Paper No. w13202
Number of pages: 48 Posted: 03 Jul 2007 Last Revised: 30 Jul 2010
Rüdiger Fahlenbrach and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 39 (429,402)

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9.

Do Exogenous Changes in Passive Institutional Ownership Affect Corporate Governance and Firm Value?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 53 Posted: 20 Nov 2012 Last Revised: 18 Jul 2016
Cornelius Schmidt and Rüdiger Fahlenbrach
Norwegian School of Economics (NHH) - Department of Finance and Ecole Polytechnique Fédérale de Lausanne
Downloads 1,061 (19,388)

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Corporate Governance; Institutional Ownership; Monitoring; Index Reconstitutions

10.

CEO Contract Design: How Do Strong Principals Do It?

Journal of Financial Economics (JFE), Forthcoming, Swiss Finance Institute Research Paper No. 11-14
Number of pages: 44 Posted: 15 Mar 2011 Last Revised: 18 Dec 2012
Henrik Cronqvist and Rüdiger Fahlenbrach
University of Miami - Department of Finance and Ecole Polytechnique Fédérale de Lausanne
Downloads 1,011 (20,821)

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LBOs, employment contracts, contracting theory, executive compensation

Estimating the Effects of Large Shareholders Using a Geographic Instrument

EFA 2008 Athens Meetings Paper, AFA 2009 San Francisco Meetings Paper, Fisher College of Business Working Paper No. 2008-03-008, Charles A. Dice Center Working Paper No. 2008-9, Robert Day School of Economics and Finance Research Paper No. 2009-13, Harvard Business School Finance Working Paper No. 1101012
Number of pages: 58 Posted: 03 Mar 2008 Last Revised: 27 Sep 2010
Bo Becker, Henrik Cronqvist and Rüdiger Fahlenbrach
Stockholm School of Economics, University of Miami - Department of Finance and Ecole Polytechnique Fédérale de Lausanne
Downloads 858 (26,027)

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Large shareholders, blockholders, corporate policies, firm performance, liquidity, instrumental variable estimation

Estimating the Effects of Large Shareholders Using a Geographic Instrument

NBER Working Paper No. w17393
Number of pages: 58 Posted: 21 Sep 2011
Bo Becker, Henrik Cronqvist and Rüdiger Fahlenbrach
Stockholm School of Economics, University of Miami - Department of Finance and Ecole Polytechnique Fédérale de Lausanne
Downloads 27 (486,642)

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12.

Why Do Firms Appoint CEOs as Outside Directors?

Fisher College of Business Working Paper No. 2008-03-009, Charles A. Dice Center for Research in Financial Economics Working Paper No. 2008-10
Number of pages: 59 Posted: 17 Jul 2008
Rüdiger Fahlenbrach, Angie Low and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Nanyang Technological University - Division of Banking & Finance and Ohio State University (OSU) - Department of Finance
Downloads 878 (25,604)

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Director independence, new director appointment, director influence, quiet life

13.

How Do Investors and Firms React to an Unexpected Currency Appreciation Shock?

Swiss Finance Institute Research Paper No. 15-65
Number of pages: 54 Posted: 01 Jan 2016 Last Revised: 24 Aug 2018
Matthias Efing, Rüdiger Fahlenbrach, Christoph Herpfer and Philipp Krueger
HEC Paris - Finance Department, Ecole Polytechnique Fédérale de Lausanne, Emory University - Goizueta Business School and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 803 (28,995)

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14.

Institutional Investors and Mutual Fund Governance: Evidence from Retail – Institutional Fund Twins

Review of Financial Studies, Forthcoming, Swiss Finance Institute Research Paper No. 11-31, Darden Business School Working Paper No. 1907149
Number of pages: 55 Posted: 09 Aug 2011 Last Revised: 18 Dec 2012
Richard B. Evans and Rüdiger Fahlenbrach
University of Virginia - Darden School of Business and Ecole Polytechnique Fédérale de Lausanne
Downloads 534 (49,973)

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Governance, Mutual funds, Institutional investors, Performance sensitivity, Identification

Why Does Fast Loan Growth Predict Poor Performance for Banks?

Charles A. Dice Center Working Paper No. 2016-7, Fisher College of Business Working Paper No. 2016-03-07, Swiss Finance Institute Research Paper No. 16-24
Number of pages: 58 Posted: 09 Mar 2016
Rüdiger Fahlenbrach, Robert Prilmeier and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Tulane University - A.B. Freeman School of Business and Ohio State University (OSU) - Department of Finance
Downloads 509 (52,503)

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Credit boom, loan growth, bank performance, bank returns, loan loss provisions

Why Does Fast Loan Growth Predict Poor Performance for Banks?

NBER Working Paper No. w22089
Number of pages: 58 Posted: 21 Mar 2016
Rüdiger Fahlenbrach, Robert Prilmeier and René M. Stulz
Ecole Polytechnique Fédérale de Lausanne, Tulane University - A.B. Freeman School of Business and Ohio State University (OSU) - Department of Finance
Downloads 14 (567,884)

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16.

Former CEO Directors: Lingering CEOs or Valuable Resources?

Review of Financial Studies, Forthcoming, Fisher College of Business Working Paper No. 2007-03-004, Charles A. Dice Center Working Paper No. 2007-4, Swiss Finance Institute Research Paper No. 10-11
Number of pages: 62 Posted: 19 Mar 2007 Last Revised: 27 Sep 2010
Rüdiger Fahlenbrach, Bernadette A. Minton and Carrie H. Pan
Ecole Polytechnique Fédérale de Lausanne, Ohio State University (OSU) - Department of Finance and Santa Clara University - Department of Finance
Downloads 448 (62,283)

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CEO turnover, rehired CEO, former CEO, relative performance evaluation

Why Don’t All Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities

Charles A. Dice Center Working Paper No. 2014-01, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 457/2015, Fisher College of Business Working Paper No. 2014-03-01, Swiss Finance Institute Research Paper No. 14-21
Number of pages: 59 Posted: 13 Mar 2014 Last Revised: 24 Dec 2015
Nicole M. Boyson, Rüdiger Fahlenbrach and René M. Stulz
Northeastern University - D’Amore-McKim School of Business, Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 311 (94,634)

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Regulatory arbitrage; bank capital requirements; quality of bank capital

Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities

NBER Working Paper No. w19984
Number of pages: 50 Posted: 24 Mar 2014
Nicole M. Boyson, Rüdiger Fahlenbrach and René M. Stulz
Northeastern University - D’Amore-McKim School of Business, Ecole Polytechnique Fédérale de Lausanne and Ohio State University (OSU) - Department of Finance
Downloads 7 (614,445)

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Why Are Firms With More Managerial Ownership Worth Less?

Fisher College of Business Working Paper No. 2018-03-024, Charles A. Dice Center Working Paper No. 2018-24, Swiss Finance Institute Research Paper No. 18-75, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 587/2018
Number of pages: 62 Posted: 04 Dec 2018 Last Revised: 11 Jun 2019
Ecole Polytechnique Fédérale de Lausanne, Ecole Polytechnique Fédérale de Lausanne, Ohio State University (OSU) - Department of Finance and Babson College
Downloads 279 (106,857)

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Firm valuation, Director and officer ownership, Liquidity, Performance history

Why are Firms with More Managerial Ownership Worth Less?

NBER Working Paper No. w25352
Number of pages: 59 Posted: 11 Dec 2018
Kornelia Fabisik, Rüdiger Fahlenbrach, René Stulz and Jérôme Taillard
Ecole Polytechnique Fédérale de Lausanne, Ecole Polytechnique Fédérale de Lausanne, Ohio State University (OSU) - Fisher College of Business and Babson College
Downloads 8 (607,723)
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19.

Co-Movements of Index Options and Futures Quotes

Dice Center Working Paper Series No. 2005-10, Journal of Empirical Finance, Forthcoming
Number of pages: 27 Posted: 15 Apr 2005 Last Revised: 08 Aug 2008
Rüdiger Fahlenbrach and Patrik Sandas
Ecole Polytechnique Fédérale de Lausanne and University of Virginia
Downloads 252 (119,075)

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Options, Frictions, Market Microstructure, Stale Quotes, Market and Limit Orders

20.

The Importance of Network Recommendations in the Director Labor Market

Swiss Finance Institute Research Paper No. 18-28, 31st Australasian Finance and Banking Conference 2018
Number of pages: 51 Posted: 21 Mar 2018 Last Revised: 01 Nov 2018
Rüdiger Fahlenbrach, Hyemin Kim and Angie Low
Ecole Polytechnique Fédérale de Lausanne, Nanyang Technological University - Division of Banking & Finance and Nanyang Technological University - Division of Banking & Finance
Downloads 111 (242,239)

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board of directors, social connections, director labor market

21.

Essays on Corporate Governance

University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship
Posted: 01 Dec 2009
Rüdiger Fahlenbrach
Ecole Polytechnique Fédérale de Lausanne

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Firm ownership, Firm performance, Founders, Operator ownership, Return on investment, Stock markets, Valuation, Boards of directors, Chief executive officers (CEOs), Firm governance