Zacharias Sautner

Frankfurt School of Finance & Management gemeinnützige GmbH

Professor of Finance

Adickesallee 32-34

Frankfurt am Main, 60322

Germany

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • Frankfurt School of Finance & Management gemeinnützige GmbH

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

26

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SSRN CITATIONS
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Top 5,241

in Total Papers Citations

68

CROSSREF CITATIONS

140

Scholarly Papers (26)

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1.

Behind the Scenes: The Corporate Governance Preferences of Institutional Investors

Journal of Finance 71, 2016, 2905-2932
Number of pages: 46 Posted: 15 Mar 2010 Last Revised: 03 Feb 2020
Joseph A. McCahery, Zacharias Sautner and Laura T. Starks
Tilburg University - School of Law; European Banking Center (EBC), Frankfurt School of Finance & Management gemeinnützige GmbH and University of Texas at Austin - Department of Finance
Downloads 5,990 (1,151)
Citation 80

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Institutional investors, corporate governance, shareholder activism

2.

Did SOX Section 404 Make Firms Less Opaque? Evidence from Cross-Listed Firms

Contemporary Accounting Research, 30, 2013, 1133–1165
Number of pages: 40 Posted: 02 Mar 2010 Last Revised: 30 Jan 2015
Stefan Arping and Zacharias Sautner
University of Amsterdam Business School and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 2,362 (5,764)
Citation 8

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Sarbanes-Oxley Act, Analyst Forecasts, Corporate Governance, Disclosure Regulation

3.

ESG Shareholder Engagement and Downside Risk

AFA 2018 paper
Number of pages: 50 Posted: 25 Nov 2016 Last Revised: 31 Jul 2019
Andreas G. F. Hoepner, Ioannis Oikonomou, Zacharias Sautner, Laura T. Starks and Xiaoyan Zhou
Smurfit Graduate Business School, University College Dublin, University of Reading - ICMA Centre, Frankfurt School of Finance & Management gemeinnützige GmbH, University of Texas at Austin - Department of Finance and University of Oxford-Smith School of Enterprise and the Environment
Downloads 1,752 (9,461)
Citation 13

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ESG, Shareholder Activism, Downside Risk, Corporate Governance, Climate Change

4.

The Importance of Climate Risks for Institutional Investors

Swiss Finance Institute Research Paper No. 18-58, European Corporate Governance Institute - Finance Working Paper No. 610/2019
Number of pages: 83 Posted: 27 Aug 2018 Last Revised: 20 Nov 2019
Philipp Krueger, Zacharias Sautner and Laura T. Starks
University of Geneva - Geneva Finance Research Institute (GFRI), Frankfurt School of Finance & Management gemeinnützige GmbH and University of Texas at Austin - Department of Finance
Downloads 1,611 (10,912)
Citation 22

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Climate Risks, ESG, Institutional Investors

5.

Opening the Black Box: Internal Capital Markets and Managerial Power

Journal of Finance 68, 2013, 1577-1631 , EFA 2007 Ljubljana Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 112 Posted: 25 Mar 2008 Last Revised: 30 Jan 2015
Markus Glaser, Florencio Lopez de Silanes and Zacharias Sautner
Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management), SKEMA Business School and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 1,518 (11,934)
Citation 18

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Internal Capital Markets, Capital Budgeting, Managerial Power, Corporate Politics

6.

Short-Term Investors, Long-Term Investments, and Firm Value: Evidence from Russell 2000 Index Inclusions

Number of pages: 39 Posted: 23 Jan 2016 Last Revised: 16 May 2019
Martijn Cremers, Ankur Pareek and Zacharias Sautner
University of Notre Dame, University of Nevada, Las Vegas - Lee Business School, University of Nevada - Las Vegas and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 1,234 (16,504)
Citation 6

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short-termism, managerial myopia, investment, misvaluation

7.

Short-Term Institutions, Analyst Recommendations, and Mispricing

Number of pages: 47 Posted: 19 Dec 2012 Last Revised: 16 Jul 2019
Martijn Cremers, Ankur Pareek and Zacharias Sautner
University of Notre Dame, University of Nevada, Las Vegas - Lee Business School, University of Nevada - Las Vegas and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 1,222 (16,736)
Citation 9

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Short-term institutions; Analyst recommendations; Mispricing

8.

Corporate Governance and Internal Capital Markets

Harvard Business School Finance Working Paper No. 1530565, AFA 2011 Denver Meetings Paper
Number of pages: 47 Posted: 03 Jan 2010 Last Revised: 07 Jun 2010
Zacharias Sautner and Belen Villalonga
Frankfurt School of Finance & Management gemeinnützige GmbH and New York University (NYU) - Leonard N. Stern School of Business
Downloads 1,047 (21,069)
Citation 7

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Corporate governance, internal capital markets, ownership, diversification

9.

Out-of-Court Restructuring versus Formal Bankruptcy in a Non-Interventionist Bankruptcy Setting

Review of Finance 14, 2010, 623-668
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 03 Aug 2012
Philipp Jostarndt and Zacharias Sautner
Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management) and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 972 (23,551)
Citation 2

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Bankruptcy, debt restructuring, capital structure

10.

Corporate Governance and the Design of Stock Option Contracts

AFA 2007 Chicago Meetings Paper, EFA 2006 Zurich Meetings, Die Betriebswirtschaft, 71, 331-354.
Number of pages: 50 Posted: 24 Oct 2005 Last Revised: 15 Apr 2015
Zacharias Sautner and Martin Weber
Frankfurt School of Finance & Management gemeinnützige GmbH and University of Mannheim - Department of Banking and Finance
Downloads 972 (23,551)
Citation 5

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Stock Option Programs, Program Design, Corporate Governance, Empirical Evidence

11.

Cross-Border Mergers and Acquisitions: The Role of Private Equity Firms

Strategic Management Journal, Forthcoming, 25th Australasian Finance and Banking Conference 2012, 2013 Financial Markets & Corporate Governance Conference, UNSW Australian School of Business Research Paper No. 2012 BFIN 10
Number of pages: 40 Posted: 25 Feb 2012 Last Revised: 19 Sep 2016
Mark Humphery-Jenner, Zacharias Sautner and Jo-Ann Suchard
UNSW Business School, Frankfurt School of Finance & Management gemeinnützige GmbH and UNSW Business School
Downloads 967 (23,726)
Citation 2

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Mergers and acquisitions, private equity, information asymmetries

12.

Managerial Short-Termism and Investment: Evidence from Accelerated Option Vesting

Number of pages: 63 Posted: 29 Jun 2013 Last Revised: 25 Jun 2019
Tomislav Ladika and Zacharias Sautner
University of Amsterdam and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 860 (28,121)
Citation 7

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Managerial myopia, corporate investment, vesting duration, FAS 123-R

13.

Carbon Tail Risk

Number of pages: 56 Posted: 19 Jul 2018 Last Revised: 10 Dec 2019
Emirhan Ilhan, Zacharias Sautner and Grigory Vilkov
Frankfurt School of Finance & Management, Frankfurt School of Finance & Management gemeinnützige GmbH and Frankfurt School of Finance & Management
Downloads 624 (43,693)
Citation 9

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carbon risk, tail risk, climate finance, climate risk

14.

Internal Capital Markets and Corporate Politics in a Banking Group

Review of Financial Studies, 24, 2011, 358-401 , European Banking Center Discussion Paper No. 2009-15S, Yale ICF Working Paper No. 08-19, AFA 2010 Atlanta Meetings Paper, CentER Discussion Paper Series No. 2009-47S
Number of pages: 54 Posted: 31 Jul 2008 Last Revised: 02 Aug 2012
Martijn Cremers, Rocco Huang and Zacharias Sautner
University of Notre Dame, Michigan State University - Department of Finance and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 593 (46,548)
Citation 7

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internal capital markets, capital markets, retail banking, corporate politics

15.

The Retention Effects of Unvested Equity: Evidence from Accelerated Option Vesting

The Review of Financial Studies (Forthcoming)
Number of pages: 71 Posted: 22 May 2015 Last Revised: 09 Feb 2018
Torsten Jochem, Tomislav Ladika and Zacharias Sautner
University of Amsterdam, University of Amsterdam and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 485 (60,058)
Citation 2

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Executive retention, Unvested equity, Stock options, Accelerated option vesting, FAS 123-R

16.

What Determines How Top Managers Value Their Stock Options?

Number of pages: 34 Posted: 04 Jul 2008 Last Revised: 12 Sep 2010
Zacharias Sautner, Martin Weber and Markus Glaser
Frankfurt School of Finance & Management gemeinnützige GmbH, University of Mannheim - Department of Banking and Finance and Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management)
Downloads 477 (61,283)
Citation 4

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Executive Stock Options, Subjective Option Values, Optimism, Overconfidence, Miscalibration

17.

Financial Distress, Corporate Control, and Management Turnover

Number of pages: 44 Posted: 07 Nov 2007
Philipp Jostarndt and Zacharias Sautner
Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management) and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 467 (62,937)
Citation 1

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Corporate control, financial distress, restructuring

18.

Corporate Governance and Leverage: Evidence from a Natural Experiment

Tinbergen Institute Discussion Paper 10-019/2, Finance Research Letters, Vol. 7, No. 2, 2010
Number of pages: 20 Posted: 07 Feb 2010 Last Revised: 30 Jan 2015
Stefan Arping and Zacharias Sautner
University of Amsterdam Business School and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 427 (70,138)
Citation 2

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Corporate Governance, Corporate Leverage, Financing Policy

19.

How Do Managers Behave in Stock Option Plans? Clinical Evidence from Exercise and Survey Data

Journal of Financial Research, 32, 2009, 123-155
Number of pages: 40 Posted: 13 Mar 2006 Last Revised: 04 Feb 2014
Martin Weber and Zacharias Sautner
University of Mannheim - Department of Banking and Finance and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 407 (74,315)

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Employee Stock Options, Exercise Behavior, Stock Selling Behavior, Correlation of Economic

20.

Lawyer Expertise and Contract Design – Evidence from M&A Negotiations

Number of pages: 58 Posted: 13 Mar 2015 Last Revised: 30 Jan 2019
Christel Karsten, Ulrike Malmendier and Zacharias Sautner
Strategy&, University of California, Berkeley - Department of Economics and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 380 (80,368)
Citation 4

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Contracting; M&A, Lawyers

21.

Indirect Costs of Financial Distress and Bankruptcy Law: Evidence from Trade Credit and Sales

Review of Finance, Forthcoming , AFA 2014 Philadelphia Meetings Paper, EFA 2009 Bergen Meetings Paper
Number of pages: 53 Posted: 06 Mar 2008 Last Revised: 18 Aug 2018
Zacharias Sautner and Vladimir Vladimirov
Frankfurt School of Finance & Management gemeinnützige GmbH and University of Amsterdam Business School
Downloads 370 (82,961)
Citation 3

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Bankruptcy Costs, Workouts, Bankruptcy Law, International Comparison

22.

Institutional Investors’ Views and Preferences on Climate Risk Disclosure

Swiss Finance Institute Research Paper No. 19-66, European Corporate Governance Institute – Finance Working Paper No. 661/2020
Number of pages: 63 Posted: 19 Aug 2019 Last Revised: 23 Feb 2020
Emirhan Ilhan, Philipp Krueger, Zacharias Sautner and Laura T. Starks
Frankfurt School of Finance & Management, University of Geneva - Geneva Finance Research Institute (GFRI), Frankfurt School of Finance & Management gemeinnützige GmbH and University of Texas at Austin - Department of Finance
Downloads 318 (98,804)
Citation 3

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climate finance, climate risk disclosure, transparency, institutional investors

23.

Institutional Investor Preferences and Executive Compensation

Research Handbook on Executive Pay, edited by J. Hill and R. Thomas, Edward Elgar Publishing Ltd, European Banking Center Discussion Paper No. 2012-002, CentER Working Paper Series No. 2012-004
Number of pages: 23 Posted: 13 Sep 2011 Last Revised: 02 Aug 2012
Joseph A. McCahery and Zacharias Sautner
Tilburg University - School of Law; European Banking Center (EBC) and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 304 (103,378)
Citation 3

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Executive Compensation, Institutional Investors, Corporate Governance

24.

Limited Attention to Detail in Financial Markets

University of Miami Business School Research Paper No. 2790960
Number of pages: 52 Posted: 09 Jun 2016 Last Revised: 19 Dec 2019
Henrik Cronqvist, Tomislav Ladika and Zacharias Sautner
University of Miami - Department of Finance, University of Amsterdam and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 228 (139,345)
Citation 1

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Limited attention, option expensing, analyst recommendations, earnings forecasts, FAS 123-R

25.

Stock Option Repricing in Europe

Number of pages: 43 Posted: 17 Jan 2008
Michael Sauer and Zacharias Sautner
affiliation not provided to SSRN and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 186 (168,582)
Citation 4

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Executive Stock Options, Option Repricing, Comparative Corporate Governance

26.

Contracting between Firms: Empirical Evidence

Review of Economics and Statistics, Forthcoming
Number of pages: 50 Posted: 21 Jun 2016 Last Revised: 29 Jul 2016
Rajkamal Iyer and Zacharias Sautner
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 103 (269,681)

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agency problems, holdup problems, incomplete contracting, contract theory