Wolfgang Drobetz

University of Hamburg

Professor of Finance

Moorweidenstrasse 18

Hamburg, 20148

Germany

SCHOLARLY PAPERS

76

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Top 1,228

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43,638

TOTAL CITATIONS
Rank 3,486

SSRN RANKINGS

Top 3,486

in Total Papers Citations

503

Scholarly Papers (76)

Corporate Governance and Expected Stock Returns: Evidence from Germany

ECGI - Finance Working Paper No. 11/2003
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 3,819 (5,984)
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 1,113 (40,905)
Citation 43

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corporate governance, principal-agent theory, asset pricing

2.

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

ECGI - Finance Working Paper No. 34/2004
Number of pages: 59 Posted: 27 Jan 2004
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 3,231 (8,014)
Citation 101

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Corporate governance; Ownership structure; Firm valuation; Endogeneity

Financing Decentralized Digital Platform Growth: The Role of Crypto Funds in Blockchain-based Startups

Number of pages: 52 Posted: 16 Apr 2024
Florida Atlantic University, University of Hamburg, University of Hamburg and Syracuse University - Whitman School of Management
Downloads 185 (339,624)
Citation 2

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Crypto Funds (CFs), Initial Coin Offering (ICO), Digital Platform Adoption and Governance, Blockchain-based Crowdfunding, Decentralized Finance (DeFi)

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

Number of pages: 63 Posted: 11 May 2022 Last Revised: 16 Mar 2023
Florida Atlantic University, University of Hamburg, University of Hamburg and Syracuse University - Whitman School of Management
Downloads 1,522 (25,774)
Citation 19

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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
dichtl research & consulting GmbH, University of Hamburg, Robeco Quantitative Investments, Invesco and Allianz Global Investors
Downloads 2,039 (16,663)
Citation 6

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

5.

Estimating Stock Market Betas via Machine Learning

Journal of Financial and Quantitative Analysis, forthcoming
Number of pages: 99 Posted: 01 Oct 2021 Last Revised: 24 Mar 2024
University of Hamburg, Saarland University, University of Hamburg and University of Reading - ICMA Centre
Downloads 1,826 (19,902)
Citation 6

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Beta estimation, machine learning, active trading strategy

6.

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

Number of pages: 33 Posted: 17 Jul 2018 Last Revised: 15 Nov 2018
University of Western Australia - Business School, dichtl research & consulting GmbH, University of Hamburg and BlackRock, Inc - London
Downloads 1,429 (28,845)

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

7.

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 Syracuse University - Whitman School of Management
Downloads 1,279 (33,934)
Citation 1

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

8.

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 1,206 (36,879)
Citation 4

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Capital structure, dynamic adjustment, panel models

9.

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 1,139 (40,135)
Citation 7

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Capital structure, dynamic analysis, panel data

10.

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 Syracuse University - Whitman School of Management
Downloads 1,109 (41,815)
Citation 10

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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

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 Leuphana University Lüneburg
Downloads 1,049 (45,175)
Citation 17

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Corporate life-cycle, cash holdings, value of cash

12.

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 1,045 (45,428)
Citation 5

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

13.

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 943 (52,399)
Citation 14

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Capital Structure, dynamic analysis, panel data

14.

An Integrated Framework of Corporate Governance and Firm Valuation

Number of pages: 44 Posted: 01 Aug 2005
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 927 (53,678)
Citation 7

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

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 883 (57,374)
Citation 14

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stock return prediction machine learning, active trading strategy

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

ESMT Berlin Working Paper
Number of pages: 56 Posted: 26 Oct 2020
University of Cambridge - Judge Business School, University of Hamburg, Syracuse University - Whitman School of Management and ESMT European School of Management and Technology
Downloads 249 (255,391)

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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
University of Cambridge - Judge Business School, University of Hamburg, Syracuse University - Whitman School of Management and ESMT European School of Management and Technology
Downloads 592 (95,424)

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

17.

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 721 (75,262)
Citation 1

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

18.

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 720 (75,396)
Citation 3

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

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 711 (76,606)
Citation 4

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rebalancing, stock-bond portfolio, bootstrap, statistical inference

20.

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
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and University of Hamburg
Downloads 694 (78,930)
Citation 50

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Economic Uncertainty, Policy Uncertainty, Investment, Cost of Capital

21.

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
University of Hamburg, University of Zurich - Department of Finance, University of Zurich and University of St. Gallen - Swiss Institute of Banking and Finance
Downloads 671 (82,409)
Citation 9

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

22.

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 636 (88,275)
Citation 4

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

23.

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
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Leuphana University Lüneburg
Downloads 622 (90,846)
Citation 12

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

24.

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 584 (98,441)

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factor-based allocation, multiple testing

25.

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 575 (100,379)
Citation 1

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

26.

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 556 (104,657)
Citation 2

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

27.

Data Snooping in Equity Premium Prediction

Number of pages: 49 Posted: 22 May 2017 Last Revised: 11 Dec 2019
dichtl research & consulting GmbH, University of Hamburg, Washington University in St. Louis - John M. Olin Business School and BlackRock, Inc - London
Downloads 551 (105,852)
Citation 3

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Equity risk premium prediction, data snooping bias

28.

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 548 (106,568)
Citation 4

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

29.

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
University of Hamburg, University of Bath - School of Management, University of Piraeus and American College of Greece (DEREE)
Downloads 496 (120,420)
Citation 1

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Earnings management, voluntary disclosure environment, forecast accuracy, IPOs

30.

Predicting Corporate Bond Illiquidity via Machine Learning

Financial Analysts Journal, 2024, 80(3): 103-127. , Financial Analysts Journal, volume 80, issue 3, 2024 [10.1080/0015198X.2024.2350952]
Number of pages: 61 Posted: 26 Jun 2023 Last Revised: 04 Aug 2024
TOBAM, University of Hamburg, University of Hamburg and University of Mannheim - Department of International Finance
Downloads 475 (126,830)
Citation 1

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Illiquidity estimation, machine learning, corporate bonds

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
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Leuphana University Lüneburg
Downloads 461 (131,447)
Citation 23

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

32.

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
University of Hamburg, University of Hamburg, M.M. Warburg & Co and University of Hamburg
Downloads 459 (132,160)
Citation 3

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

Token-Based Crowdfunding: Investor Choice and the Optimal Timing of Initial Coin Offerings (ICOs)

Entrepreneurship Theory and Practice, forthcoming
Number of pages: 66 Posted: 19 Jun 2024
University of Hamburg, Dresden University of Technology, Syracuse University - Whitman School of Management and University of Hamburg
Downloads 91 (597,892)

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Token Offering, Initial Coin Offering (ICO), Crypto Funds, Operating versus Financial Performance, Entrepreneurial Finance, Optimal Timing

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
University of Hamburg, University of Hamburg, Dresden University of Technology and Syracuse University - Whitman School of Management
Downloads 348 (179,440)

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

34.

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 432 (142,101)
Citation 2

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

35.

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 431 (142,507)
Citation 8

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

Financing Innovation: A Hurdle-Rate Theory of Inventive Procyclicality

Number of pages: 60 Posted: 15 Apr 2024
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA), University of Hamburg, University of Hamburg, Syracuse University - Whitman School of Management and University of Bergamo
Downloads 56 (783,477)

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

A Hurdle-Rate Theory of Inventive Procyclicality

Number of pages: 51 Posted: 01 May 2023 Last Revised: 08 May 2023
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA), University of Hamburg, University of Hamburg, Syracuse University - Whitman School of Management and University of Bergamo
Downloads 186 (337,886)

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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
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA), University of Hamburg, University of Hamburg, Syracuse University - Whitman School of Management and University of Bergamo
Downloads 163 (380,326)

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

37.

The Sustainability Committee and Environmental Disclosure: International Evidence

Journal of Economic Behavior and Organization, Forthcoming
Number of pages: 69 Posted: 29 Sep 2022 Last Revised: 12 Feb 2024
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 393 (158,714)
Citation 2

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Sustainability committee; environmental disclosure; GHG emissions disclosure

38.

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 378 (165,323)
Citation 4

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

39.

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 371 (168,784)
Citation 1

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

40.

Board Ancestral Diversity and Voluntary Greenhouse Gas Emission Disclosure

Number of pages: 71 Posted: 05 Jan 2022 Last Revised: 08 Nov 2023
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Leuphana University Lüneburg
Downloads 359 (174,997)
Citation 6

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

41.

Entrepreneurial Finance and Sustainability: Do Institutional Investors Impact the ESG Performance of SMEs?

Journal of Business Venturing Insights, forthcoming
Number of pages: 37 Posted: 22 May 2024
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business, TUM School of Management,Technical University of Munich and Syracuse University - Whitman School of Management
Downloads 354 (177,764)

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Entrepreneurial Finance, Venture Capital, Private Equity, Sustainability, Environment, Social, and Governance (ESG), Corporate Social Responsibility (CSR) JEL Codes: G24, L26, M13, Q01, Q56

42.

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 349 (180,484)
Citation 1

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

43.

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 323 (196,145)
Citation 4

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

44.

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 313 (202,879)

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

45.

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 305 (208,723)

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

46.

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, Marymount University and University of South Carolina - Moore School of Business
Downloads 282 (226,551)
Citation 7

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

47.

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, Leuphana University Lüneburg and University of Applied Sciences Merseburg
Downloads 272 (234,977)

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

48.

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 Syracuse University - Whitman School of Management
Downloads 265 (241,293)
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

49.

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

Number of pages: 72 Posted: 12 Aug 2020 Last Revised: 30 May 2023
University of Hamburg, University of Cambridge, University of Salamanca and Leuphana University Lüneburg
Downloads 237 (269,656)
Citation 1

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

50.

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 Syracuse University - Whitman School of Management
Downloads 224 (284,857)
Citation 10

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

51.

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

Number of pages: 61 Posted: 04 Mar 2021 Last Revised: 27 Nov 2023
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 223 (286,097)

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Institutional ownership, foreign investors, bond covenants, corporate governance

52.

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

Number of pages: 48 Posted: 09 Nov 2013
University of Hamburg, University of Piraeus, American College of Greece (DEREE) and Athens University of Economics and Business - Department of Economics
Downloads 218 (292,260)

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53.

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 Syracuse University - Whitman School of Management
Downloads 212 (300,082)

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

54.

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 210 (302,740)
Citation 12

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Institutional ownership; investment horizons; corporate governance; credit ratings

55.

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
Downloads 196 (322,836)
Citation 2

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

56.

Institutional Investor Monitoring and Earnings Management: A Network Approach

Number of pages: 63 Posted: 17 Feb 2024 Last Revised: 03 May 2024
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business, University of Cambridge and Leuphana University Lüneburg
Downloads 178 (352,520)

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Institutional investors; investor networks; monitoring; earnings management

57.

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 171 (365,137)
Citation 1

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insider trading, skewness

58.

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 148 (412,715)
Citation 1

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Size effect, capital asset pricing model, leverage, estimation

59.

Institutional Dual Ownership and Voluntary Greenhouse Gas Emission Disclosure

Number of pages: 54 Posted: 29 Nov 2023
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Leuphana University Lüneburg
Downloads 133 (449,265)
Citation 7

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climate change, greenhouse gas emission disclosure, institutional investors, dual holders

60.

Equity Issues and Stock Repurchases of Initial Public Offerings

European Financial Management, Forthcoming
Number of pages: 44 Posted: 29 Aug 2014
University of Hamburg, University of Hamburg, Justus-Liebig-University Giessen and Justus-Liebig-University Giessen
Downloads 132 (451,963)
Citation 1

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

61.

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

Journal of International Business Studies, Forthcoming
Number of pages: 67 Posted: 11 Oct 2023
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 120 (486,977)
Citation 1

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Institutional ownership; foreign investors; bond covenants; corporate governance

62.

Cross-Country Determinants of Institutional Investors’ Investment Horizons

Finance Research Letters
Number of pages: 24 Posted: 29 Jun 2020 Last Revised: 07 Mar 2023
University of Hamburg, University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and Leuphana University Lüneburg
Downloads 112 (512,779)

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Institutional investors, investment horizons, churn rates, institutional environments

63.

Beyond Ownership: The Role of Institutional Investors in International Corporate Governance

Number of pages: 47 Posted: 13 Dec 2024
Wolfgang Drobetz, Sadok El Ghoul, Omrane Guedhami and xinya yu
University of Hamburg, University of Alberta - Campus Saint-Jean, University of South Carolina - Moore School of Business and affiliation not provided to SSRN
Downloads 103 (549,026)

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Institutional Investors, Corporate Governance, Future Research JEL Classifications: G32, G34

64.

Drawdowns in stock and crypto markets. What is the best bootstrapping method?

Number of pages: 38 Posted: 30 Apr 2024 Last Revised: 24 Jun 2024
Hubert Dichtl, Wolfgang Drobetz and Tizian Otto
dichtl research & consulting GmbH, University of Hamburg and University of Hamburg
Downloads 100 (556,632)

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JEL Classification: G11, G12, G14 Bootstrap, block bootstrap, crashes, drawdowns, stock markets, crypto markets, bitcoin, serial dependence

65.

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 81 (633,849)

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Cash Flow Sensitivity, Financial Development, Law and Finance

66.

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 Leuphana University Lüneburg
Downloads 72 (676,401)

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

67.

Bootstrapping and Bias: The Economic Costs of Misjudging Downside Risk

Number of pages: 40
dichtl research & consulting GmbH, University of Hamburg, University of Hamburg and University of Mannheim - Department of International Finance
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maximum drawdown, bootstrap simulation, strategic asset allocation, stock markets, serial dependence

68.

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

69.

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

70.

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

71.

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
University of Hamburg, University of Bath - School of Management, University of Piraeus and Leuphana University Lüneburg

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Maritime financial management, capital structure, speed of adjustment

72.

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

73.

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

74.

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

75.

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

76.

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: 161
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
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Cash flow sensitivity, financial constraints, liquidity crises, investment spending, supply side shock