Matthias Efing

HEC Paris - Finance Department

Assistant Professor

France

http://matthiasefing.com/

Centre for Economic Policy Research (CEPR)

London

United Kingdom

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Affiliate

Poschinger Str. 5

Munich, DE-81679

Germany

  • HEC Paris - Finance Department

    • Email
    • Tel: (++33)695646755

  • Centre for Economic Policy Research (CEPR)

  • CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

SCHOLARLY PAPERS

9

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3,225

SSRN CITATIONS
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Top 9,962

in Total Papers Citations

25

CROSSREF CITATIONS

91

Scholarly Papers (9)

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1.

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

Swiss Finance Institute Research Paper No. 15-65
Number of pages: 53 Posted: 01 Jan 2016 Last Revised: 13 Jan 2020
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 893 (28,941)
Citation 2

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2.

Reaching for Yield in the ABS Market: Evidence from German Bank Investments

Downloads 526 ( 58,637)
Citation 5

Reaching for Yield in the ABS Market: Evidence from German Bank Investments

Swiss Finance Institute Research Paper No. 14-65
Number of pages: 57 Posted: 25 Nov 2014 Last Revised: 25 Jul 2019
Matthias Efing
HEC Paris - Finance Department
Downloads 475 (65,942)
Citation 5

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Reaching for yield, asset-backed securities, financial regulation, credit ratings

Arbitraging the Basel Securitization Framework: Evidence from German Abs Investment

Bundesbank Discussion Paper No. 40/2015
Number of pages: 57 Posted: 21 Jun 2016
Matthias Efing
HEC Paris - Finance Department
Downloads 51 (432,977)

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regulatory arbitrage, asset-backed securities, risk-taking, credit ratings

3.

Shareholder Bargaining Power and the Emergence of Empty Creditors

Swiss Finance Institute Research Paper No. 16-17, Paris December 2016 Finance Meeting EUROFIDAI - AFFI
Number of pages: 55 Posted: 04 Jun 2016 Last Revised: 29 Jun 2018
Stefano Colonnello, Matthias Efing and Francesca Zucchi
Ca Foscari University of Venice, HEC Paris - Finance Department and Federal Reserve Board
Downloads 475 (66,598)
Citation 4

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Empty Creditors, Credit Default Swaps, Bargaining Power, Real Effects

4.

Structured Debt Ratings: Evidence on Conflicts of Interest

Downloads 465 ( 68,358)
Citation 18

Structured Debt Ratings: Evidence on Conflicts of Interest

Swiss Finance Institute Research Paper No. 13-21
Number of pages: 39 Posted: 19 Apr 2013 Last Revised: 07 Dec 2018
Matthias Efing and Harald Hau
HEC Paris - Finance Department and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 390 (83,438)
Citation 1

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Credit Ratings, Ratings Inflation, Conflicts of Interest, Structured Debt

Structured Debt Ratings: Evidence on Conflicts of Interest

Swiss Finance Institute Research Paper No. 13-21
Number of pages: 59 Posted: 05 Oct 2013
Matthias Efing and Harald Hau
HEC Paris - Finance Department and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 74 (357,606)
Citation 2

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Credit Ratings, Ratings Inflation, Conflicts of Interest, Structured Debt

Structured Debt Ratings: Evidence on Conflicts of Interest

CEPR Discussion Paper No. DP9465
Number of pages: 56 Posted: 08 May 2013
Matthias Efing and Harald Hau
HEC Paris - Finance Department and University of Geneva - Geneva Finance Research Institute (GFRI)
Downloads 1 (754,621)
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conflicts of interest, credit ratings, ratings inflation, structured debt

5.

Bank Capital Regulation with an Opportunistic Rating Agency

Downloads 408 ( 80,182)
Citation 4

Bank Capital Regulation with an Opportunistic Rating Agency

Swiss Finance Institute Research Paper No. 12-19
Number of pages: 48 Posted: 03 May 2012 Last Revised: 22 Sep 2015
Matthias Efing
HEC Paris - Finance Department
Downloads 359 (92,227)
Citation 6

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Bank Regulation, Lucas Critique, Collusion, Ratings Inflation, Risk-shifting

Bank Capital Regulation with an Opportunistic Rating Agency

CESifo Working Paper Series No. 4267
Number of pages: 46 Posted: 18 Jun 2013
Matthias Efing
HEC Paris - Finance Department
Downloads 49 (440,778)

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bank regulation, Lucas critique, collusion, ratings inflation, risk-shifting

6.

Bank Bonus Pay as a Risk Sharing Contract

Downloads 208 (163,129)
Citation 2

Bank Bonus Pay as a Risk Sharing Contract

HEC Paris Research Paper No. FIN-2018-1285
Number of pages: 50 Posted: 29 Jun 2018 Last Revised: 03 Jun 2020
Matthias Efing, Harald Hau, Patrick Kampkötter and Jean-Charles Rochet
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and Swiss Finance Institute
Downloads 145 (224,081)

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Bank compensation, risk sharing, bank risk, operating leverage

Bank Bonus Pay as a Risk Sharing Contract

Swiss Finance Institute Research Paper No. 18-72, Proceedings of Paris December 2019 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 52 Posted: 20 Nov 2018 Last Revised: 11 Jun 2020
Matthias Efing, Harald Hau, Patrick Kampkötter and Jean-Charles Rochet
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and Swiss Finance Institute
Downloads 63 (390,463)
Citation 1

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banker compensation, risk sharing, bonus pay, operating leverage

7.

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

Downloads 167 (198,784)
Citation 10

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

Paris December 2014 Finance Meeting EUROFIDAI - AFFI Paper, Swiss Finance Institute Research Paper No. 14-55
Number of pages: 49 Posted: 06 Sep 2014 Last Revised: 10 Dec 2014
Matthias Efing, Harald Hau, Patrick Kampkötter and Johannes Steinbrecher
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute
Downloads 127 (249,029)

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Trading Income, Bank Risk, Incentive Pay, Bonus Payments

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

CESifo Working Paper Series No. 4984
Number of pages: 52 Posted: 09 Oct 2014
Matthias Efing, Harald Hau, Patrick Kampkötter and Johannes Steinbrecher
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute
Downloads 29 (536,363)

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trading income, bank risk, incentive pay, bonus payments

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

NBER Working Paper No. w20468
Number of pages: 52 Posted: 08 Sep 2014 Last Revised: 19 Sep 2014
Matthias Efing, Harald Hau, Patrick Kampkötter and Johannes Steinbrecher
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute
Downloads 9 (679,699)
Citation 1

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Incentive Pay and Bank Risk-Taking:Evidence from Austrian, German, and Swiss Banks

CEPR Discussion Paper No. DP10217
Number of pages: 53 Posted: 17 Nov 2014
Matthias Efing, Harald Hau, Patrick Kampkötter and Johannes Steinbrecher
HEC Paris - Finance Department, University of Geneva - Geneva Finance Research Institute (GFRI), University of Tuebingen - Department of Managerial Accounting and CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute
Downloads 2 (740,493)
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Bank Risk, Bonus Payments, Incentive Pay, Trading Income

8.

Freeze! Financial Sanctions and Bank Responses

Deutsche Bundesbank Discussion Paper No. 45/2018
Number of pages: 51 Posted: 07 Dec 2018 Last Revised: 21 Feb 2019
Matthias Efing, Stefan Goldbach and Volker Nitsch
HEC Paris - Finance Department, Darmstadt University of Technology and Darmstadt University of Technology - Department of Law and Economics
Downloads 54 (415,153)

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financial sanctions, law and finance, cross-border lending, international banking

9.

Risk Managers in Banks

HEC Paris Research Paper No. FIN-2020-1388
Number of pages: 50 Posted: 18 Sep 2020 Last Revised: 30 Sep 2020
Matthias Efing and Patrick Kampkötter
HEC Paris - Finance Department and University of Tuebingen - Department of Managerial Accounting
Downloads 29 (522,292)

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risk management, governance, pay-for-performance, revolving doors, risk-taking