Marcus M. Opp

Stockholm School of Economics - Department of Finance

Associate Professor of Finance

SE-113 83 Stockholm

Sweden

Swedish House of Finance

Drottninggatan 98

111 60 Stockholm

Sweden

  • Stockholm School of Economics - Department of Finance

SCHOLARLY PAPERS

22

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14,669

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Top 4,077

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190

Scholarly Papers (22)

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1.

A Theory of Socially Responsible Investment

Downloads 4,868 ( 4,106)
Citation 60

A Theory of Socially Responsible Investment

Review of Economic Studies (Forthcoming), Swedish House of Finance Research Paper
Number of pages: 54 Posted: 21 Oct 2019 Last Revised: 25 Mar 2024
Martin Oehmke and Marcus M. Opp
London School of Economics & Political Science (LSE) - Department of Finance and Stockholm School of Economics - Department of Finance
Downloads 4,866 (4,045)
Citation 39

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Socially responsible investing, sustainable investing, ESG, Social Profitability Index (SPI), fiduciary duty

A Theory of Socially Responsible Investment

CEPR Discussion Paper No. DP14351
Number of pages: 47 Posted: 29 Jan 2020
Martin Oehmke and Marcus M. Opp
London School of Economics & Political Science (LSE) - Department of Finance and Stockholm School of Economics - Department of Finance
Downloads 2 (1,350,329)
Citation 21
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capital allocation, ESG, social ratings, Socially responsible investing, SPI, sustainable investment

2.

Rating Agencies in the Face of Regulation

Journal of Financial Economics (JFE), Vol. 108, pp. 64-81, 2013, Chicago Booth Research Paper No. 13-05, Fama-Miller Working Paper, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 33 Posted: 26 Jan 2010 Last Revised: 11 Aug 2020
Christian C. Opp, Marcus M. Opp and Milton Harris
University of Rochester - Simon Business School, Stockholm School of Economics - Department of Finance and University of Chicago - Finance
Downloads 3,280 (7,848)
Citation 36

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Financial Regulation, Rating Agencies, Certification, Dodd-Frank Act

3.

Green Capital Requirements

Swedish House of Finance Research Paper No. 22-16
Number of pages: 46 Posted: 28 Mar 2022 Last Revised: 22 Nov 2022
Martin Oehmke and Marcus M. Opp
London School of Economics & Political Science (LSE) - Department of Finance and Stockholm School of Economics - Department of Finance
Downloads 1,285 (33,743)

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Bank Capital Regulation, Capital Requirements, Climate Change, Climate Risk, Transition Risks, Physical Risks, Stranded Assets, Green Supporting Factor, Brown Penalizing Factor.

4.

Target Revaluation after Failed Takeover Attempts - Cash versus Stock

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 39 Posted: 15 Mar 2011 Last Revised: 05 Mar 2015
Ulrike Malmendier, Marcus M. Opp and Farzad Saidi
University of California, Berkeley - Department of Economics, Stockholm School of Economics - Department of Finance and Boston University - Questrom School of Business
Downloads 827 (63,030)
Citation 3

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mergers & acquisitions, synergies, misvaluation, revaluation, medium of exchange

5.

Intermediary capital and the credit market

Downloads 804 (65,272)
Citation 12

Intermediary capital and the credit market

Management Science (Forthcoming)
Number of pages: 56 Posted: 19 Jul 2014 Last Revised: 04 Feb 2024
Milton Harris, Christian C. Opp and Marcus M. Opp
University of Chicago - Finance, University of Rochester - Simon Business School and Stockholm School of Economics - Department of Finance
Downloads 763 (68,856)
Citation 12

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Composition of credit, Intermediary asset pricing, Credit rationing, Public market substitution, Capital Regulation.

The Aggregate Demand for Bank Capital

NBER Working Paper No. w27858
Number of pages: 57 Posted: 28 Sep 2020 Last Revised: 13 Feb 2022
Milton Harris, Christian Opp and Marcus M. Opp
University of Chicago - Finance, University of Rochester and Stockholm School of Economics - Department of Finance
Downloads 40 (913,330)

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The Aggregate Demand for Bank Capital

CEPR Discussion Paper No. DP14524
Number of pages: 57 Posted: 25 Mar 2020
Milton Harris, Christian C. Opp and Marcus M. Opp
University of Chicago - Finance, University of Rochester - Simon Business School and Stockholm School of Economics - Department of Finance
Downloads 1 (1,359,257)
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Bailouts, bank capital, Composition of credit, Credit rationing, Crowding out, Institutional asset pricing, Non-bank competition, Overinvestment

6.

Regulatory Reform and Risk-Taking: Replacing Ratings

Downloads 604 (94,403)
Citation 9

Regulatory Reform and Risk-Taking: Replacing Ratings

Swedish House of Finance Research Paper No. 13-03
Number of pages: 44 Posted: 17 Jul 2013 Last Revised: 03 Sep 2014
Bo Becker and Marcus M. Opp
Stockholm School of Economics and Stockholm School of Economics - Department of Finance
Downloads 542 (106,817)
Citation 7

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Financial Regulation, Rating Agencies, Alternatives to Credit Ratings, Financial Crisis, Insurance Industry, Capital Regulation, Dodd-Frank Act

Regulatory Reform and Risk-Taking: Replacing Ratings

NBER Working Paper No. w19257
Number of pages: 45 Posted: 08 Aug 2013 Last Revised: 13 Feb 2022
Bo Becker and Marcus M. Opp
Stockholm School of Economics and Stockholm School of Economics - Department of Finance
Downloads 62 (746,388)
Citation 2

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7.

Expropriation Risk and Technology

Journal of Financial Economics (JFE), Vol. 103, No. 1, pp. 113-129, 2012
Number of pages: 17 Posted: 26 Jan 2010 Last Revised: 11 Nov 2011
Marcus M. Opp
Stockholm School of Economics - Department of Finance
Downloads 362 (173,635)

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Expropriation Risk, Foreign Direct Investment, Dynamic Contracting, Property Rights, Self-Enforcing Contracts, Principal-Agent Models, Political Risk

8.

Socially Optimal Eligibility Criteria for ESG Funds

Downloads 330 (192,030)
Citation 2

Socially Optimal Eligibility Criteria for ESG Funds

Swedish House of Finance Research Paper Forthcoming
Number of pages: 48 Posted: 28 Mar 2022 Last Revised: 12 May 2023
Roman Inderst and Marcus M. Opp
Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 176 (356,001)
Citation 1

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Sustainability, ESG, green financing, labelling

Socially Optimal Sustainability Standards with Non-Consequentialist ("Warm Glow") Investors

SAFE Working Paper No. 346
Number of pages: 28 Posted: 25 Mar 2022
Roman Inderst and Marcus M. Opp
Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 150 (409,031)

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Sustainability; ESG; green financing; labelling

Socially Optimal Sustainability Standards with Non-Consequentialist ("Warm Glow") Investors

CEPR Discussion Paper No. DP17100
Number of pages: 29 Posted: 29 Mar 2022
Roman Inderst and Marcus M. Opp
Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 4 (1,336,012)
Citation 1
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ESG, green financing, labelling, sustainability

9.

Only Time Will Tell: A Theory of Deferred Compensation

Downloads 285 (224,314)
Citation 8

Only Time Will Tell: A Theory of Deferred Compensation

Swedish House of Finance Research Paper No. 19-4
Number of pages: 41 Posted: 09 Jan 2017 Last Revised: 30 Sep 2020
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 169 (369,123)
Citation 2

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Compensation design, duration of pay, moral hazard, persistence, principal-agent models, informativeness principle

Only Time Will Tell: A Theory of Deferred Compensation

SAFE Working Paper No. 218, Swedish House of Finance Research Paper No. 18-14
Number of pages: 41 Posted: 28 Aug 2018 Last Revised: 28 Sep 2020
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 116 (503,468)
Citation 6

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Compensation design, duration of pay, moral hazard, persistence, principal- agent models, informativeness principle

10.

The Economics of Deferral and Clawback Requirements

Downloads 256 (250,209)

The Economics of Deferral and Clawback Requirements

Journal of Finance, Forthcoming, Swedish House of Finance Research Paper No. 21-19
Number of pages: 57 Posted: 05 Oct 2021 Last Revised: 19 Oct 2021
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 251 (253,805)

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financial regulation, moral hazard, compensation design, clawbacks, bonus deferral, short-termism

The Economics of Deferral and Clawback Requirements

CEPR Discussion Paper No. DP15081
Number of pages: 57 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 4 (1,336,012)
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bonus deferral, clawbacks, compensation regulation, moral hazard, principal-agent models with externalities, Short-termism

The Economics of Deferral and Clawback Requirements

CEPR Discussion Paper No. DP16882
Number of pages: 60 Posted: 04 Feb 2022
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 1 (1,359,257)
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bonus deferral, clawbacks, Compensation design, financial regulation, moral hazard, Short-termism

11.

Rybczynski's Theorem in the Heckscher-Ohlin World - Anything Goes

Journal of International Economics, Vol. 79, No. 1, 2009
Number of pages: 6 Posted: 23 Jan 2010
Marcus M. Opp, Hugo Sonnenschein and Christis Tombazos
Stockholm School of Economics - Department of Finance, Stanford University - Department of Economics and Monash University - Department of Economics
Downloads 254 (252,261)

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Rybczynski theorem, Heckscher-Ohlin, Factor endowments, Immiserizing growth, Transfer paradox

12.

The Economics of Deferral and Clawback Requirements: An Indirect Tax Approach to Compensation Regulation

Downloads 220 (290,077)
Citation 7

The Economics of Deferral and Clawback Requirements: An Indirect Tax Approach to Compensation Regulation

Swedish House of Finance Research Paper No. 19-3
Number of pages: 49 Posted: 27 Jun 2013 Last Revised: 03 Oct 2021
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 219 (290,042)
Citation 7

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financial regulation, moral hazard, compensation design, clawbacks, bonus deferral, short-termism

Regulating Deferred Incentive Pay

CEPR Discussion Paper No. DP9877
Number of pages: 49 Posted: 02 Jun 2014
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 1 (1,359,257)
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Compensation design, Financial regulation, Principal-agent models

13.

Tariff Wars in the Ricardian Model with a Continuum of Goods

Journal of International Economics, Vol. 80, No. 2, pp. 212-225, 2010
Number of pages: 14 Posted: 24 Jan 2010 Last Revised: 24 Aug 2010
Marcus M. Opp
Stockholm School of Economics - Department of Finance
Downloads 209 (304,539)
Citation 3

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Optimum tariff rates, Ricardian trade models, WTO, Gains from trade

14.

Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class

Downloads 198 (320,343)
Citation 26

Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class

Swedish House of Finance Research Paper No. 20-6
Number of pages: 63 Posted: 25 Feb 2020 Last Revised: 27 Jan 2021
Bo Becker, Marcus M. Opp and Farzad Saidi
Stockholm School of Economics, Stockholm School of Economics - Department of Finance and Boston University - Questrom School of Business
Downloads 197 (320,812)
Citation 18

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insurance industry, capital regulation, regulatory reform, NAIC, risk-based capital requirements

Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements

CEPR Discussion Paper No. DP14373
Number of pages: 52 Posted: 11 Feb 2020
Bo Becker, Marcus M. Opp and Farzad Saidi
Stockholm School of Economics, Stockholm School of Economics - Department of Finance and Boston University - Questrom School of Business
Downloads 1 (1,359,257)
Citation 8
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Capital regulation, insurance industry, NAIC, Regulatory Reform, risk- based capital requirements

15.

Sustainable Finance versus Environmental Policy: Does Greenwashing justify a Taxonomy for Sustainable Investments?

Number of pages: 47 Posted: 03 Apr 2024
Roman Inderst and Marcus M. Opp
Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 189 (334,381)
Citation 3

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Greenwashing, Sustainability, ESG, Green Financing, EU taxonomy, SFDR, ESG funds, European Green Deal

16.

Impatience vs. Incentives

Econometrica, Forthcoming
Number of pages: 16 Posted: 04 Nov 2012 Last Revised: 03 Mar 2015
Marcus M. Opp and John Zhu
Stockholm School of Economics - Department of Finance and University of Kansas
Downloads 181 (347,776)
Citation 5

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Oscillation, Cycles, Self-Enforcing contracts, Differential discounting, Dynamic contracts, Principal-agent models

17.

Private Information in M&A Transactions: Evidence from Withdrawn Deals

Number of pages: 21 Posted: 17 Feb 2015
Marlena I. Lee and Marcus M. Opp
Dimensional Fund Advisors and Stockholm School of Economics - Department of Finance
Downloads 160 (387,164)

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Mergers and Acquisitions, Private Information, Medium of Exchange

18.

Industrial Asset Pricing with Endogenous Business Cycles

Number of pages: 36 Posted: 29 Nov 2011 Last Revised: 17 Jul 2014
Marcus M. Opp, Christine A. Parlour and Johan Walden
Stockholm School of Economics - Department of Finance, University of California, Berkeley - Finance Group and University of California, Berkeley - Finance Group
Downloads 95 (576,473)

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19.

Markup Cycles, Dynamic Misallocation, and Amplification

Journal of Economic Theory, Forthcoming
Number of pages: 49 Posted: 11 Jul 2014
Marcus M. Opp, Christine A. Parlour and Johan Walden
Stockholm School of Economics - Department of Finance, University of California, Berkeley - Finance Group and University of California, Berkeley - Finance Group
Downloads 81 (634,932)
Citation 10

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Oligopolistic Competition, Markup Cycles, Allocative Efficiency, Dynamic Games, DSGE Models

20.

Target Revaluation after Failed Takeover Attempts – Cash Versus Stock

NBER Working Paper No. w18211
Number of pages: 40 Posted: 07 Jul 2012 Last Revised: 06 Apr 2023
Ulrike Malmendier, Marcus M. Opp and Farzad Saidi
University of California, Berkeley - Department of Economics, Stockholm School of Economics - Department of Finance and New York University (NYU)
Downloads 71 (682,713)
Citation 4

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21.

Optimism and Self-Selection Models: Bias Externalities in the Rothschild-Stiglitz Insurance Model

Number of pages: 36 Posted: 10 May 2014 Last Revised: 13 May 2014
Marcus M. Opp
Stockholm School of Economics - Department of Finance
Downloads 58 (756,258)

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Insurance, Self-selection, Optimism, Biases, Overconfidence, Contract Design, Asymmetric information

22.

Only Time Will Tell: A Theory of Deferred Compensation

Downloads 52 (796,150)
Citation 2

Only Time Will Tell: A Theory of Deferred Compensation

Review of Economic Studies, Forthcoming
Number of pages: 41 Posted: 24 Sep 2020
Florian Hoffmann, Roman Inderst and Marcus M. Opp
KU Leuven, Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 50 (829,085)
Citation 2

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Compensation Design, Duration of Pay, Moral Hazard, Persistence, Principal-Agent Models, Informativeness Principle

Only Time Will Tell: A Theory of Deferred Compensation

CEPR Discussion Paper No. DP13643
Number of pages: 45 Posted: 09 Apr 2019
Roman Inderst and Marcus M. Opp
Goethe University Frankfurt and Stockholm School of Economics - Department of Finance
Downloads 2 (1,350,329)
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Compensation design, duration of pay, Informativeness principle, moral hazard, Persistence, Principal-Agent Models