Wolfgang Drobetz

University of Hamburg

Professor of Finance

Moorweidenstrasse 18

Hamburg, 20148

Germany

  • University of Hamburg

SCHOLARLY PAPERS

70

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Top 4,051

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312

CROSSREF CITATIONS

88

Scholarly Papers (70)

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1.

Corporate Governance and Expected Stock Returns: Evidence from Germany

Downloads 4,760 ( 3,329)
Citation 67

Corporate Governance and Expected Stock Returns: Evidence from Germany

Number of pages: 51 Posted: 19 Feb 2003
Wolfgang Drobetz, Andreas Schillhofer and Heinz Zimmermann
University of Hamburg, Greenhill & Co. and University of Basel - Faculty of Business and Economics
Downloads 3,742 (4,892)
Citation 48

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Corporate Governance, principal-agent theory, asset pricing

Corporate Governance and Expected Stock Returns: Evidence from Germany

Number of pages: 46 Posted: 05 May 2003
Wolfgang Drobetz, Andreas Schillhofer and Heinz Zimmermann
University of Hamburg, Greenhill & Co. and University of Basel - Faculty of Business and Economics
Downloads 1,018 (36,931)
Citation 39

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corporate governance, principal-agent theory, asset pricing

2.

An Integrated Framework of Corporate Governance and Firm Valuation - Evidence from Switzerland

Number of pages: 59 Posted: 27 Jan 2004
Stefan Beiner, Stefan Beiner, Wolfgang Drobetz, Markus Schmid and Heinz Zimmermann
University of BaselUniversity of Oxford - Said Business School, University of Hamburg, University of St. Gallen - Swiss Institute of Banking and Finance and University of Basel - Faculty of Business and Economics
Downloads 3,199 (6,500)
Citation 98

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Corporate governance; Ownership structure; Firm valuation; Endogeneity

3.

Decentralized Finance, Crypto Funds, and Value Creation in Tokenized Firms

Downloads 1,236 (17,138)
Citation 11

Decentralized Finance, Crypto Funds, and Value Creation in Tokenized Firms

Number of pages: 63 Posted: 11 May 2022 Last Revised: 16 Mar 2023
Douglas J. Cumming, Niclas Dombrowski, Wolfgang Drobetz and Paul P. Momtaz
Florida Atlantic University, University of Hamburg, University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 1,236 (28,000)
Citation 13

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Crypto Funds (CFs), Initial Coin Offering (ICO), Decentralized Finance (DeFi), Blockchain-based Crowdfunding, Entrepreneurial Finance

4.

Optimal Timing and Tilting of Equity Factors

Financial Analysts Journal, 2019, Vol. 75(4), pp. 84-102
Number of pages: 31 Posted: 15 Dec 2018 Last Revised: 23 Oct 2019
Hubert Dichtl, Wolfgang Drobetz, Harald Lohre, Carsten Rother and Patrick Vosskamp
dichtl research & consulting GmbH, University of Hamburg, Robeco Quantitative Investments, Invesco and Allianz Global Investors
Downloads 1,683 (17,895)
Citation 11

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asset allocation, factor investing, factor timing, factor tilting, parametric portfolio policy

5.

Investing in Gold - Market Timing or Buy-and-Hold?

Number of pages: 33 Posted: 17 Jul 2018 Last Revised: 15 Nov 2018
Dirk G. Baur, Hubert Dichtl, Wolfgang Drobetz and Viktoria-Sophie Wendt
University of Western Australia - Business School, dichtl research & consulting GmbH, University of Hamburg and BlackRock, Inc - London
Downloads 1,289 (26,675)

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gold; market efficiency; investment strategies; monthly seasonalities; fundamental factors; technical indicators; superior predictive ability test

6.

Antitakeover Provisions and Firm Value: New Evidence from the M&A Market

Journal of Corporate Finance, Forthcoming
Number of pages: 26 Posted: 17 Jan 2019 Last Revised: 26 May 2020
Wolfgang Drobetz and Paul P. Momtaz
University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 1,226 (28,769)
Citation 1

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M&A, takeovers, corporate governance, antitakeover provisions, short-termism, firm value

7.

Capital Structure and Stock Returns: The European Evidence

Number of pages: 27 Posted: 17 Jan 2007
Wolfgang Drobetz and Pascal Pensa
University of Hamburg and University of Basel - Department of Finance
Downloads 1,151 (31,569)
Citation 4

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Capital structure, dynamic adjustment, panel models

8.

Estimating Stock Market Betas via Machine Learning

Number of pages: 96 Posted: 01 Oct 2021 Last Revised: 25 Aug 2023
Wolfgang Drobetz, Fabian Hollstein, Tizian Otto and Marcel Prokopczuk
University of Hamburg, Saarland University, University of Hamburg and University of Reading - ICMA Centre
Downloads 1,129 (32,462)
Citation 4

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Beta estimation, machine learning, active trading strategy

9.

Competition Policy and the Profitability of Corporate Acquisitions

Journal of Corporate Finance, Forthcoming
Number of pages: 63 Posted: 02 Nov 2016 Last Revised: 13 Sep 2019
Gishan Dissanaike, Wolfgang Drobetz and Paul P. Momtaz
University of Cambridge - Judge Business School, University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 1,077 (34,619)
Citation 6

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Mergers and Acquisitions (M&a), Takeovers, Acquirer Returns, Acquisition Efficiency, Bidder Wealth Effects, Antitrust Law Enforcement, Competition Policy, Merger Control, Law and Finance

10.

Firm Characteristics and Dynamic Capital Structure Adjustment

Number of pages: 35 Posted: 19 Dec 2006
Wolfgang Drobetz, Pascal Pensa and Gabrielle Wanzenried
University of Hamburg, University of Basel - Department of Finance and Institut für Finanzdienstleistungen Zug (IFZ)
Downloads 1,027 (37,028)
Citation 7

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Capital structure, dynamic analysis, panel data

11.

Corporate Life-Cycle Dynamics of Cash Holdings

Swedish House of Finance Research Paper No. 15-07, 28th Australasian Finance and Banking Conference
Number of pages: 39 Posted: 15 Mar 2015 Last Revised: 27 May 2023
Wolfgang Drobetz, Michael Halling and Henning Schröder
University of Hamburg, University of Luxembourg and University of Flensburg
Downloads 931 (42,557)
Citation 17

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Corporate life-cycle, cash holdings, value of cash

12.

Firm Characteristics, Economic Conditions and Capital Structure Adjustments

Number of pages: 38 Posted: 14 Aug 2006
Wolfgang Drobetz, Pascal Pensa and Gabrielle Wanzenried
University of Hamburg, University of Basel - Department of Finance and Institut für Finanzdienstleistungen Zug (IFZ)
Downloads 865 (47,062)
Citation 14

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Capital Structure, dynamic analysis, panel data

13.

An Integrated Framework of Corporate Governance and Firm Valuation

Number of pages: 44 Posted: 01 Aug 2005
Stefan Beiner, Stefan Beiner, Markus Schmid, Wolfgang Drobetz and Heinz Zimmermann
University of BaselUniversity of Oxford - Said Business School, University of St. Gallen - Swiss Institute of Banking and Finance, University of Hamburg and University of Basel - Faculty of Business and Economics
Downloads 833 (49,602)
Citation 7

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Corporate governance, principal-agent problems, ownership structure, firm valuation, endogeneity

14.

The Economics of Law Enforcement: Quasi-Experimental Evidence from Corporate Takeover Law

Downloads 750 (57,113)
Citation 1

The Economics of Law Enforcement: Quasi-Experimental Evidence from Corporate Takeover Law

ESMT Berlin Working Paper
Number of pages: 56 Posted: 26 Oct 2020
Gishan Dissanaike, Wolfgang Drobetz, Paul P. Momtaz and Jörg Rocholl
University of Cambridge - Judge Business School, University of Hamburg, University of California, Los Angeles (UCLA) - Anderson School of Management and ESMT European School of Management and Technology
Downloads 196 (256,635)

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mergers and acquisitions, acquirer returns, law and finance, takeover law, law enforcement

Takeover Law Enforcement and Acquirer Returns

Number of pages: 50 Posted: 30 May 2016 Last Revised: 30 Jan 2020
Gishan Dissanaike, Wolfgang Drobetz, Paul P. Momtaz and Jörg Rocholl
University of Cambridge - Judge Business School, University of Hamburg, University of California, Los Angeles (UCLA) - Anderson School of Management and ESMT European School of Management and Technology
Downloads 554 (83,195)

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Mergers and acquisitions, acquirer returns, law and finance, takeover law, law enforcement

15.

Empirical Asset Pricing via Machine Learning: Evidence from the European Stock Market

Number of pages: 60 Posted: 27 Jul 2020 Last Revised: 17 Aug 2021
Wolfgang Drobetz and Tizian Otto
University of Hamburg and University of Hamburg
Downloads 734 (58,939)
Citation 8

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stock return prediction machine learning, active trading strategy

16.

Forecasting Stock Market Crashes via Machine Learning

Number of pages: 63 Posted: 11 May 2021 Last Revised: 06 Sep 2022
Hubert Dichtl, Wolfgang Drobetz and Tizian Otto
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 709 (61,573)
Citation 1

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extreme event prediction, stock market crashes, machine learning, active trading strategy

17.

Performance of Initial Public Offerings: The Evidence for Switzerland

Number of pages: 69 Posted: 20 Feb 2003
Wolfgang Drobetz, Matthias Kammermann and Urs Waelchli
University of Hamburg, Independent and Rochester-Bern Executive Programs
Downloads 697 (62,976)
Citation 3

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initial public offerings, underpricing, long-run stock performance, market efficiency, Swiss stock market

18.

The Impact of Credit Rating Changes on Capital Structure Decisions: Evidence from Non-Listed Firms in Germany

Number of pages: 35 Posted: 10 Feb 2014
Wolfgang Drobetz and Sascha Heller
University of Hamburg and University of Hamburg
Downloads 675 (65,641)
Citation 1

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capital structure, financing decisions, speed of adjustment, credit ratings, non-listed companies

19.

Testing Rebalancing Strategies for Stock-Bond Portfolios Across Different Asset Allocations

Number of pages: 24 Posted: 13 Aug 2014
Hubert Dichtl, Wolfgang Drobetz and Martin Wambach
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 654 (68,318)
Citation 4

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rebalancing, stock-bond portfolio, bootstrap, statistical inference

20.

Industry Expert Directors

University of St.Gallen, School of Finance Research Paper No. 2014/01, 28th Australasian Finance and Banking Conference
Number of pages: 67 Posted: 27 Apr 2013 Last Revised: 11 May 2017
Wolfgang Drobetz, Felix von Meyerinck, David Oesch and Markus Schmid
University of Hamburg, University of Zurich - Department of Banking and Finance, University of Zurich and University of St. Gallen - Swiss Institute of Banking and Finance
Downloads 640 (70,257)
Citation 9

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Board of directors, Director skills and experience, Corporate governance, Corporate Investments

21.

Long-Term Performance of Initial Public Offerings: The Evidence for Switzerland

Schmalenbach Business Review, Vol. 57, pp. 253-275, July 2005
Number of pages: 24 Posted: 16 Aug 2005
Wolfgang Drobetz, Matthias Kammermann and Urs Waelchli
University of Hamburg, Independent and Rochester-Bern Executive Programs
Downloads 618 (73,398)
Citation 2

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Initial Public Offerings, Long-Run Stock Performance, Market Efficiency, Swiss Stock Market, Underpricing

22.

Policy Uncertainty, Investment, and the Cost of Capital

Journal of Financial Stability
Number of pages: 59 Posted: 06 Jun 2017 Last Revised: 07 Mar 2023
Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Malte Janzen
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Hamburg
Downloads 522 (91,234)
Citation 68

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Economic Uncertainty, Policy Uncertainty, Investment, Cost of Capital

23.

What Factors Drive Corporate Credit Ratings? Evidence from German SMEs and Large Corporates

Number of pages: 58 Posted: 10 Feb 2014 Last Revised: 05 Mar 2014
Wolfgang Drobetz and Sascha Heller
University of Hamburg and University of Hamburg
Downloads 517 (91,659)
Citation 1

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corporate rating, creditworthiness, rating agencies, determinants, financial risk, business risk

24.

Sell in May and Go Away: Still Good Advice for Investors?

Number of pages: 38 Posted: 21 May 2014
Hubert Dichtl and Wolfgang Drobetz
dichtl research & consulting GmbH and University of Hamburg
Downloads 495 (96,578)
Citation 2

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Sell in May, Halloween effect, bootstrap simulation, statistical inference, investment strategy

25.

Testing Rebalancing Strategies for Stock-Bond Portfolios: Where Is the Value Added of Rebalancing?

Midwest Finance Association 2012 Annual Meetings Paper , 2012 European Financial Management Symposium on Asset Management , 2012 Kölner Finanzmarktkolloquium on Asset Management
Number of pages: 27 Posted: 15 Sep 2011 Last Revised: 11 Aug 2015
Hubert Dichtl, Wolfgang Drobetz and Martin Wambach
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 492 (97,592)
Citation 4

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rebalancing, bootstrap, performance measurement, statistical inference, stock-bond portfolio

26.

Factor-Based Allocation: Is There a Superior Strategy?

Number of pages: 49 Posted: 24 Apr 2019
Hubert Dichtl, Wolfgang Drobetz and Viktoria-Sophie Wendt
dichtl research & consulting GmbH, University of Hamburg and BlackRock, Inc - London
Downloads 491 (97,592)

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factor-based allocation, multiple testing

27.

Data Snooping in Equity Premium Prediction

Number of pages: 49 Posted: 22 May 2017 Last Revised: 11 Dec 2019
Hubert Dichtl, Wolfgang Drobetz, Andreas Neuhierl and Viktoria-Sophie Wendt
dichtl research & consulting GmbH, University of Hamburg, Washington University in St. Louis - John M. Olin Business School and BlackRock, Inc - London
Downloads 485 (99,081)
Citation 3

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Equity risk premium prediction, data snooping bias

28.

Determinants of Management Earnings Forecasts: The Case of Global Shipping IPOs

European Financial Management, 23, 2017, pp 975-1015
Number of pages: 48 Posted: 25 Feb 2012 Last Revised: 24 Sep 2018
Wolfgang Drobetz, Dimitrios Gounopoulos, Andreas G. Merikas and Anna Merika
University of Hamburg, University of Bath - School of Management, University of Piraeus and American College of Greece (DEREE)
Downloads 475 (101,630)
Citation 1

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Earnings management, voluntary disclosure environment, forecast accuracy, IPOs

29.

Foreign Institutional Investors, Legal Origin, and Corporate Greenhouse Gas Emissions Disclosure

Journal of Business Ethics
Number of pages: 55 Posted: 07 Dec 2020 Last Revised: 10 Mar 2023
Simon Döring, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Henning Schröder
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Flensburg
Downloads 469 (103,347)
Citation 7

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Institutional investors, foreign ownership, legal origin, corporate environmental responsi-bility, carbon disclosure, firm value

30.

A Bootstrap-Based Comparison of Portfolio Insurance Strategies

Number of pages: 53 Posted: 06 Oct 2013 Last Revised: 14 Jun 2014
Hubert Dichtl, Wolfgang Drobetz and Martin Wambach
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 382 (130,924)
Citation 4

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Portfolio insurance strategies, Omega ratio, bootstrap simulation, Monte Carlo simulation

31.

Institutional Investment Horizons and Firm Valuation Around the World

Journal of International Business Studies
Number of pages: 63 Posted: 28 May 2019 Last Revised: 07 Mar 2023
Simon Döring, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Henning Schröder
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Flensburg
Downloads 372 (134,839)
Citation 9

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Institutional investors, investment horizon, foreign investors, international corporate governance, firm value

32.

Where is the Value Added of Rebalancing? A Systematic Comparison of Alternative Rebalancing Strategies

Number of pages: 40 Posted: 01 Sep 2012 Last Revised: 11 Aug 2015
Hubert Dichtl, Wolfgang Drobetz and Martin Wambach
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 367 (136,901)
Citation 2

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optimal rebalancing, stock-bond portfolio, bootstrap, statistical inference

33.

Timing the Stock Market: Does it Really Make No Sense?

Number of pages: 47 Posted: 29 Jul 2013 Last Revised: 11 Aug 2015
Hubert Dichtl, Wolfgang Drobetz and Lawrence Kryzanowski
dichtl research & consulting GmbH, University of Hamburg and Concordia University, Quebec - John Molson School of Business
Downloads 349 (144,639)
Citation 3

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Market timing, expected utility theory, regret theory, anticipated utility theory, cumulative prospect theory, bootstrap simulation

34.

Do Alternative UCITS Deliver What They Promise? A Comparison of Alternative UCITS and Hedge Funds

Applied Financial Economics, Vol. 24, No. 14, 2014
Number of pages: 37 Posted: 18 Nov 2013
Michael Busack, Wolfgang Drobetz and Jan Tille
Absolut Research GmbH, University of Hamburg and Absolut Research GmbH
Downloads 342 (147,814)
Citation 1

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Alternative mutual funds, UCITS funds, Hedge funds, Performance measurement

35.

Predictability and the Cross-Section of Expected Returns: Evidence from the European Stock Market

Number of pages: 43 Posted: 19 Aug 2019 Last Revised: 01 Jul 2020
Wolfgang Drobetz, Rebekka Haller, Christian Jasperneite and Tizian Otto
University of Hamburg, University of Hamburg, M.M. Warburg & Co and University of Hamburg
Downloads 328 (154,531)
Citation 3

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characteristics-based asset pricing, factor timing, active trading strategy

36.

Investment and Financing Decisions of Private and Public Firms

29th Australasian Finance and Banking Conference 2016
Number of pages: 55 Posted: 08 Mar 2016 Last Revised: 20 Jan 2018
Wolfgang Drobetz, Malte Janzen and Iwan Meier
University of Hamburg, University of Hamburg and HEC Montreal - Department of Finance
Downloads 303 (168,096)
Citation 1

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corporate investment, cash flow allocation, private firms, agency problems

37.

Cyclicality of Growth Opportunities and the Value of Cash Holdings

Number of pages: 68 Posted: 16 Aug 2015 Last Revised: 03 Aug 2016
Meike Ahrends, Wolfgang Drobetz and Tatjana Xenia Puhan
University of Hamburg, University of Hamburg and University of Mannheim - Department of International Finance
Downloads 280 (182,476)
Citation 4

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Business cycle, cash holdings, value of cash, growth opportunities

38.

Are Stock Markets Really so Inefficient? The Case of the 'Halloween Indicator'

Finance Research Letters, Forthcoming
Number of pages: 17 Posted: 11 Aug 2013 Last Revised: 12 Dec 2013
Hubert Dichtl and Wolfgang Drobetz
dichtl research & consulting GmbH and University of Hamburg
Downloads 277 (184,519)

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Sell in May, stock market anomaly, bootstrap simulation, statistical inference

39.

Estimating the Cost of Executive Stock Options: Evidence from Switzerland

Number of pages: 31 Posted: 14 Jun 2005
Wolfgang Drobetz, Pascal Pensa and Markus Schmid
University of Hamburg, University of Basel - Department of Finance and University of St. Gallen - Swiss Institute of Banking and Finance
Downloads 236 (216,142)

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Managerial compensation, incentives, executive stock options, option valuation, risk aversion

40.

Board Ancestral Diversity and Voluntary Greenhouse Gas Emission Disclosure

Number of pages: 71 Posted: 05 Jan 2022 Last Revised: 21 Aug 2023
Johannes A. Barg, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Henning Schröder
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Flensburg
Downloads 230 (221,635)
Citation 2

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climate change, greenhouse gas emission disclosure, board of directors, board diversity, ancestry

41.

The Financial and Non-Financial Performance of Token-Based Crowdfunding: Certification Arbitrage, Investor Choice, and the Optimal Timing of ICOs

CESifo Working Paper No. 10393
Number of pages: 61 Posted: 28 Apr 2023
Niclas Dombrowski, Wolfgang Drobetz, Lars Hornuf and Paul P. Momtaz
University of Hamburg, University of Hamburg, Technische Universität Dresden and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 227 (224,485)

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Token Offering, Initial Coin Offering (ICO), crypto funds, operating versus financial performance, entrepreneurial finance, optimal timing

42.

The Role of CAT Bonds in an International Multi-Asset Portfolio: Diversifier, Hedge, or Safe Haven?

Finance Research Letters, Vol. 33, 2020
Number of pages: 17 Posted: 23 Apr 2019 Last Revised: 29 Sep 2020
Wolfgang Drobetz, Henning Schröder and Lars Tegtmeier
University of Hamburg, University of Flensburg and University of Applied Sciences Merseburg
Downloads 227 (224,485)

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CAT Bonds, Alternative Investments, Diversifier, Hedge, Safe Haven, DCC GARCH

43.

Corporate Governance Convergence in the European M&A Market

Number of pages: 20 Posted: 13 Aug 2015 Last Revised: 05 Dec 2018
Wolfgang Drobetz and Paul P. Momtaz
University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 219 (232,220)
Citation 7

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Mergers and acquisitions, market for corporate control, cross-border acquisitions, corporate governance, investor protection, shareholder rights, acquirer returns, bidder wealth effects

44.

Institutional Investors and Corporate Environmental Costs: The Roles of Investment Horizon and Investor Origin

Number of pages: 56 Posted: 11 Jan 2023 Last Revised: 19 Jun 2023
Wolfgang Drobetz, Sadok El Ghoul, Zhengwei Fu and Omrane Guedhami
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of South Carolina - Moore School of Business
Downloads 204 (247,859)

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Environmental costs; sustainability; institutional investors; investment horizon; foreign investors; cost of equity

45.

Corporate Social Responsibility (CSR) Revisited: The Case of International Shipping

Number of pages: 48 Posted: 09 Nov 2013
Wolfgang Drobetz, Andreas G. Merikas, Anna Merika and Efthymios G. Tsionas
University of Hamburg, University of Piraeus, American College of Greece (DEREE) and Athens University of Economics and Business - Department of Economics
Downloads 202 (250,195)

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46.

Foreign bias in institutional portfolio allocation: The role of social trust

Number of pages: 72 Posted: 12 Aug 2020 Last Revised: 30 May 2023
Wolfgang Drobetz, Marwin Mönkemeyer, Ignacio Requejo and Henning Schröder
University of Hamburg, University of Hamburg - Hamburg Business School, University of Salamanca - Administration and Business Economics and University of Flensburg
Downloads 200 (252,538)
Citation 1

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Trust, foreign bias, portfolio diversification, information asymmetry, institutional investors, culture

47.

A Hurdle-Rate Theory of Inventive Procyclicality

Downloads 192 (264,382)

A Hurdle-Rate Theory of Inventive Procyclicality

Number of pages: 51 Posted: 01 May 2023 Last Revised: 08 May 2023
David B. Audretsch, Wolfgang Drobetz, Eva Elena Ernst, Paul P. Momtaz and Silvio Vismara
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA), University of Hamburg, University of Hamburg, University of California, Los Angeles (UCLA) - Anderson School of Management and University of Bergamo
Downloads 117 (395,835)

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Corporate innovation, patents, R\&D, equity risk premium, financing conditions, hurdle-rate theory

The Hurdle-Rate Effect on Patents: Equity Risk Premium and Corporate Innovation by Public Firms in the U.S., 1977-2018

Number of pages: 52 Posted: 01 May 2023 Last Revised: 09 May 2023
David B. Audretsch, Wolfgang Drobetz, Eva Elena Ernst, Paul P. Momtaz and Silvio Vismara
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA), University of Hamburg, University of Hamburg, University of California, Los Angeles (UCLA) - Anderson School of Management and University of Bergamo
Downloads 75 (533,340)

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corporate innovation, patents, R&D, equity risk premium, financing conditions

48.

Capital Allocation and Ownership Concentration in the Shipping Industry

Number of pages: 54 Posted: 17 Feb 2018 Last Revised: 09 Jan 2019
Wolfgang Drobetz, Malte Janzen and Ignacio Requejo
University of Hamburg, University of Hamburg and University of Salamanca - Administration and Business Economics
Downloads 174 (285,719)
Citation 2

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Capital Allocation, Corporate Investment, Shipping Firms, Ownership Concentration, Firm Value

49.

Valuing start-up firms: A reverse-engineering approach for fair-value multiples from venture capital transactions

Finance Research Letters, Forthcoming
Number of pages: 31 Posted: 09 Mar 2021
Johannes A. Barg, Wolfgang Drobetz and Paul P. Momtaz
University of Hamburg, University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 162 (303,544)
Citation 9

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Private equity, venture capital, entrepreneurship, investment multiples, start-up valuation

50.

Institutional Investment Horizons, Corporate Governance, and Credit Ratings: International Evidence

Journal of Corporate Finance
Number of pages: 69 Posted: 08 Jul 2020 Last Revised: 07 Mar 2023
Hamdi Driss, Wolfgang Drobetz, Sadok El Ghoul and Omrane Guedhami
Saint Mary's University, University of Hamburg, University of Alberta - Campus Saint-Jean and University of South Carolina - Moore School of Business
Downloads 153 (318,610)
Citation 2

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Institutional ownership; investment horizons; corporate governance; credit ratings

51.

Predicting Corporate Bond Illiquidity via Machine Learning

Number of pages: 51 Posted: 26 Jun 2023
Axel Cabrol, Wolfgang Drobetz, Tizian Otto and Tatjana Xenia Puhan
TOBAM, University of Hamburg, University of Hamburg and University of Mannheim - Department of International Finance
Downloads 145 (338,317)

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Illiquidity estimation, machine learning, corporate bonds

52.

Do Foreign Institutional Investors Affect International Contracting? Evidence from Bond Covenants

Number of pages: 61 Posted: 04 Mar 2021 Last Revised: 28 Jul 2023
Paul Brockman, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Ying Zheng
Lehigh University - College of Business, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Bryant University
Downloads 140 (342,132)

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Institutional ownership, foreign investors, bond covenants, corporate governance

53.

Corporate Insider Trading and Return Skewness

Journal of Corporate Finance, Forthcoming
Number of pages: 49 Posted: 29 Jan 2018 Last Revised: 22 Nov 2019
Wolfgang Drobetz, Emil Mussbach and Christian Westheide
University of Hamburg, University of Hamburg - Institute of Finance and University of Vienna - Department of Finance
Downloads 133 (355,971)
Citation 1

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insider trading, skewness

54.

Performance Measurement of Crypto Funds

Economics Letters, Forthcoming
Number of pages: 14 Posted: 12 Apr 2023 Last Revised: 13 Apr 2023
Niclas Dombrowski, Wolfgang Drobetz and Paul P. Momtaz
University of Hamburg, University of Hamburg and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 131 (362,195)

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crypto funds, active investment management, performance measurement, fund selection, blockchain-based digital assets

55.

Leverage, Beta Estimation, and the Size Effect

Number of pages: 46 Posted: 03 Aug 2014
Wolfgang Drobetz, Iwan Meier and Jörg Seidel
University of Hamburg, HEC Montreal - Department of Finance and University of Hamburg - Faculty of Economics and Business Administration, Chair of Corporate and Ship Finance
Downloads 125 (373,004)
Citation 1

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Size effect, capital asset pricing model, leverage, estimation

56.

The Sustainability Committee and Environmental Disclosure: International Evidence

Number of pages: 86 Posted: 29 Sep 2022 Last Revised: 29 Aug 2023
Hamdi Driss, Wolfgang Drobetz, Sadok El Ghoul and Omrane Guedhami
Saint Mary's University, University of Hamburg, University of Alberta - Campus Saint-Jean and University of South Carolina - Moore School of Business
Downloads 123 (377,515)

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Sustainability committee; environmental disclosure; GHG emissions disclosure

57.

Equity Issues and Stock Repurchases of Initial Public Offerings

European Financial Management, Forthcoming
Number of pages: 44 Posted: 29 Aug 2014
Wolfgang Bessler, Wolfgang Drobetz, Martin Seim and Jan Zimmermann
University of Hamburg, University of Hamburg, Justus-Liebig-University Giessen and Justus-Liebig-University Giessen
Downloads 106 (420,396)

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Initial Public Offerings, Share Repurchases, Seasoned Equity Offerings, Valuation Effects

58.

Cross-Country Determinants of Institutional Investors’ Investment Horizons

Finance Research Letters
Number of pages: 24 Posted: 29 Jun 2020 Last Revised: 07 Mar 2023
Simon Döring, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Henning Schröder
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Flensburg
Downloads 78 (511,235)

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Institutional investors, investment horizons, churn rates, institutional environments

59.

Global Cash Flow Sensitivities

Number of pages: 15 Posted: 09 Aug 2017
Simon Döring, Wolfgang Drobetz, Malte Janzen and Iwan Meier
University of Hamburg, University of Hamburg, University of Hamburg and HEC Montreal - Department of Finance
Downloads 61 (583,166)

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Cash Flow Sensitivity, Financial Development, Law and Finance

60.

Team Networks and Venture Success: Evidence From Token-Financed Startups

Number of pages: 43 Posted: 23 May 2023
Wolfgang Drobetz, Kathrin Rennertseder and Henning Schröder
University of Hamburg, University of Hamburg and University of Flensburg
Downloads 30 (771,441)

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Team networks, venture success, token-financing, startups, social network analysis

61.

Do Foreign Institutional Shareholders Affect International Debt Contracting? Evidence from Yankee Bond Covenants

Journal of International Business Studies
Number of pages: 67
Paul Brockman, Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and Ying Zheng
Lehigh University - College of Business, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Bryant University
Downloads 4

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Institutional ownership; foreign investors; bond covenants; corporate governance

62.

Active Factor Completion Strategies

Journal of Portfolio Management, 2021 Quantitative Special Issue, Vol. 47(2), pp. 9-37
Posted: 16 Apr 2019 Last Revised: 08 Feb 2022
Hubert Dichtl, Wolfgang Drobetz, Harald Lohre and Carsten Rother
dichtl research & consulting GmbH, University of Hamburg, Robeco Quantitative Investments and Invesco

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Diversification, Risk Parity, Factor Completion, Multi-Asset Multi-Factor Investing, Factor-based Models, Portfolio Management/Multi-Asset Allocation, Style Investing

63.

The Predictability of Alternative UCITS Fund Returns

Journal of Alternative Investments, Forthcoming
Posted: 03 Jun 2017 Last Revised: 01 Apr 2019
Michael Busack, Wolfgang Drobetz and Jan Tille
Absolut Research GmbH, University of Hamburg and Absolut Research GmbH

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Alternative Mutual Funds, UCITS Funds, Hedge Funds, Return Prediction

64.

Can Investors Benefit from the Performance of Alternative UCITS Funds?

Financial Markets and Portfolio Management (DOI: 10.1007/s11408-016-0283-7)
Posted: 24 Mar 2015 Last Revised: 24 Sep 2018
Michael Busack, Wolfgang Drobetz and Jan Tille
Absolut Research GmbH, University of Hamburg and Absolut Research GmbH

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Alternative mutual funds, UCITS fund, hedge funds, performance measurement, performance persistence

65.

Capital Structure Decisions of Globally-Listed Shipping Companies

Transportation Research Part E: Logistics and Transportation Review 52, 2013, pp 49-76
Posted: 02 Jul 2012 Last Revised: 09 Sep 2013
Wolfgang Drobetz, Dimitrios Gounopoulos, Andreas G. Merikas and Henning Schröder
University of Hamburg, University of Bath - School of Management, University of Piraeus and University of Flensburg

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Maritime financial management, capital structure, speed of adjustment

66.

The International Zero-Leverage Phenomenon

Midwest Finance Association 2013 Annual Meeting Paper
Posted: 05 Apr 2012 Last Revised: 16 Oct 2014
Wolfgang Bessler, Wolfgang Drobetz, Rebekka Haller and Iwan Meier
University of Hamburg, University of Hamburg, University of Hamburg and HEC Montreal - Department of Finance

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Capital structure, zero-leverage, debt conservatism, financial constraints, financial flexibility

67.

Fixed Income Portfolio Allocation Including Hedge Fund Strategies: A Copula Opinion Pooling Approach

Journal of Fixed Income, Vol. 18, No. 4, 78-91.
Posted: 21 Aug 2008 Last Revised: 29 May 2013
Michael Stein, Roland Füss and Wolfgang Drobetz
University of Duisburg-Essen, Swiss Finance Institute and University of Hamburg

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Fixed income portfolios, copula opinion pooling (COP) methodology, portfolio optimization, Monte Carlo simulations, hedge funds, robust Bayesian methods, non-normal return distributions, co-dependent markets, prior and posterior allocation

68.

Ship Funds as a New Asset Class: An Empirical Analysis of the Relationship between Spot and Forward Prices in Freight Markets

Journal of Asset Management, Vol. 9, No. 2, pp. 102-120, 2008
Posted: 26 Jul 2008
Wolfgang Bessler, Wolfgang Drobetz and Jörg Seidel
University of Hamburg, University of Hamburg and University of Hamburg - Faculty of Economics and Business Administration, Chair of Corporate and Ship Finance

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asset management, ship funds, freight markets, VEC model

69.

Corporate Cash Holdings: Evidence from Switzerland

Financial Markets and Portfolio Management, Vol. 21, No. 3, pp. 293-324, 2007
Posted: 11 Sep 2007
Wolfgang Drobetz and Matthias Grüninger
University of Hamburg and affiliation not provided to SSRN

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Cash holdings, Transaction costs motive, Precautionary motive

70.

The Contribution of Asset Allocation Policy to Portfolio Performance

Financial Markets and Portfolio Management, Vol. 16, No. 2, pp. 219-233, 2002
Posted: 14 Sep 2005
Wolfgang Drobetz
University of Hamburg

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Other Papers (1)

Total Downloads: 142
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1.

The Impact of Liquidity Crises on Cash Flow Sensitivities

26th Australasian Finance and Banking Conference 2013
Number of pages: 58 Posted: 28 Aug 2013 Last Revised: 31 Oct 2014
Wolfgang Drobetz, Rebekka Haller, Iwan Meier and Vefa Tarhan
University of Hamburg, University of Hamburg, HEC Montreal - Department of Finance and Loyola University of Chicago - School of Business Administration
Downloads 142

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Cash flow sensitivity, financial constraints, liquidity crises, investment spending, supply side shock