Christoph Kaserer

Technische Universität München (TUM)

Full Professor

Arcisstr. 21

Munich, D-80290

Germany

http://www.cefs.de

SCHOLARLY PAPERS

62

DOWNLOADS
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Top 330

in Total Papers Downloads

39,771

CITATIONS
Rank 4,719

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Top 4,719

in Total Papers Citations

111

Scholarly Papers (62)

1.

Risikofaktoren und Multifaktormodelle für den Deutschen Aktienmarkt (Risk Factors and Multi-Factor Models for the German Stock Market)

Betriebswirtschaftliche Forschung & Praxis, 65 (5), pp. 469-492, CEFS Working Paper 01-2011
Number of pages: 32 Posted: 17 Nov 2011 Last Revised: 13 Nov 2013
Matthias X. Hanauer, Christoph Kaserer and Marc Steffen Rapp
Robeco Asset Management - Quantitative Strategies, Technische Universität München (TUM) and University of Marburg - School of Business & Economics
Downloads 2,706 (1,841)

Abstract:

CAPM, multi-factor models, Asset Pricing, Asset Pricing Anomalies, Anomalies, Fama French, Carhart, Risk Factors, Value, Size, Momentum, Germany

2.

Measuring Market Liquidity Risk - Which Model Works Best?

CEFS Working Paper Series 2009 No. 1
Number of pages: 28 Posted: 16 Jan 2009 Last Revised: 22 Jun 2016
Cornelia Ernst, Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management, Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 2,626 (2,957)
Citation 1

Abstract:

Asset liquidity, liquidity cost, price impact, Xetra liquidity measure (XLM), risk measurement, Value-at-Risk, market liquidity risk

3.

European Private Equity Funds - A Cash Flow Based Performance Analysis

CEFS Working Paper No. 2004-01
Number of pages: 47 Posted: 20 May 2004
Christoph Kaserer and Christian Diller
Technische Universität München (TUM) and affiliation not provided to SSRN
Downloads 2,337 (3,682)
Citation 16

Abstract:

Private equity, venture capital, cash flow analysis, public market

4.

Market Liquidity Risk - An Overview

CEFS Working Paper Series 2009 No. 4
Number of pages: 38 Posted: 19 Mar 2009 Last Revised: 18 Aug 2009
Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 1,950 (5,119)
Citation 2

Abstract:

Asset liquidity, liquidity cost, price impact, Xetra liquidity measure (XLM), risk measurement, Value-at-Risk, market liquidity risk, overview

What Drives Private Equity Returns? - Fund Inflows, Skilled GPs, and/or Risk?

Number of pages: 38 Posted: 10 Mar 2007
Christoph Kaserer and Christian Diller
Technische Universität München (TUM) and affiliation not provided to SSRN
Downloads 1,224 (11,751)
Citation 10

Abstract:

Private equity funds, performance, venture capital, buyout

What Drives Private Equity Returns? - Fund Inflows, Skilled Gps, And/Or Risk?

CEFS Working Paper No. 2004-2
Number of pages: 35 Posted: 15 Sep 2004 Last Revised: 13 Feb 2009
Christoph Kaserer and Christian Diller
Technische Universität München (TUM) and affiliation not provided to SSRN
Downloads 680 (28,308)
Citation 10

Abstract:

Private equity funds, venture capital, financing, WLS, bootstrapping

What Drives Private Equity Returns? - Fund Inflows, Skilled GPs, and/or Risk?

European Financial Management, Vol. 15, Issue 3, pp. 643-675, June 2009
Number of pages: 33 Posted: 27 May 2009
Christian Diller and Christoph Kaserer
affiliation not provided to SSRN and Technische Universität München (TUM)
Downloads 3 (537,295)
Citation 10
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Abstract:

What Drives Private Equity Returns? - Fund Inflows, Skilled GPs, and/or Risk?

European Financial Management Journal, Forthcoming
Posted: 04 Mar 2008
Christoph Kaserer and Christian Diller
Technische Universität München (TUM) and affiliation not provided to SSRN

Abstract:

Private equity funds, performance, venture capital, buyout

6.

Private Equity Funds and Hedge Funds: A Primer

CEFS Working Paper No. 2005-03
Number of pages: 17 Posted: 21 Mar 2008 Last Revised: 13 Aug 2008
Ann‐Kristin Achleitner and Christoph Kaserer
Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 1,791 (5,628)
Citation 9

Abstract:

Private Equity Funds, Hedge Funds

7.

Why and How to Integrate Liquidity Risk into a VaR-Framework

International Review of Finance, 2010 , CEFS Working Paper No. 2008-10
Number of pages: 38 Posted: 31 Oct 2008 Last Revised: 22 Jun 2016
Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 1,367 (9,113)
Citation 3

Abstract:

Asset liquidity, price impact, weighted spread, Xetra Liquidity Measure (XLM), Value-at-Risk, market liquidity risk

8.

Does Contingent Capital Induce Excessive Risk-Taking?

Journal of Financial Intermediation, Forthcoming
Number of pages: 55 Posted: 17 Nov 2010 Last Revised: 11 Feb 2015
Tobias Berg and Christoph Kaserer
Frankfurt School of Finance & Management and Technische Universität München (TUM)
Downloads 1,177 (9,426)
Citation 4

Abstract:

Contingent capital, banking regulation, risk-taking incentives, asset substitution, debt overhang, credit crunch

9.

Risk, Return and Cash Flow Characteristics of Infrastructure Fund Investments

EIB Papers, Vol. 15, No. 1, pp. 106-136, 2010
Number of pages: 32 Posted: 29 Jan 2012
Florian Bitsch, Axel Buchner and Christoph Kaserer
Technische Universität München - Center for Entrepreneurial and Financial Studies, University of Passau and Technische Universität München (TUM)
Downloads 1,120 (7,552)
Citation 6

Abstract:

infrastructure investment, infrastructure fund, risk, return

10.

Capital Structure Decisions in Family Firms - Empirical Evidence from a Bank-Based Economy

European Finance Association (EFA), EFA 2009 Bergen Meetings, Review of Managerial Science, Forthcoming
Number of pages: 33 Posted: 23 Mar 2009 Last Revised: 21 Feb 2013
Technische Universität München - Center for Entrepreneurial and Financial Studies, The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 1,072 (12,843)
Citation 4

Abstract:

family firms, capital structure, leverage, agency conflicts

11.

International Financial Reporting Standards and Earnings Quality: The Myth of Voluntary vs. Mandatory Adoption

CEFS Working Paper No. 2009-09
Number of pages: 44 Posted: 03 Jun 2009 Last Revised: 05 Oct 2010
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Technische Universität München (TUM) and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 1,041 (13,400)
Citation 6

Abstract:

IAS regulation, IFRS, corporate ownership structures, insider ownership, incentives, earnings quality

12.

Listed Family Firms in Germany (German)

Number of pages: 107 Posted: 20 Oct 2009
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München, TUM Business School, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 879 (17,672)
Citation 1

Abstract:

family firms, Germany, performance

13.

Insider Ownership and Corporate Performance - Evidence from Germany

CEFS Working Paper No. 1/2005
Number of pages: 38 Posted: 11 Mar 2007
Christoph Kaserer and Ben Moldenhauer
Technische Universität München (TUM) and Munich University of Technology
Downloads 874 (18,594)
Citation 9

Abstract:

Ownership Structure, Shareholder Structure, Insider Ownership, Firm Performance, Corporate Governance, Agency Costs

14.

Estimating Equity Premia from CDS Spreads

EFA 2009 Bergen Meetings Paper
Number of pages: 30 Posted: 16 Oct 2007 Last Revised: 22 Jun 2016
Christoph Kaserer and Tobias Berg
Technische Universität München (TUM) and Frankfurt School of Finance & Management
Downloads 807 (20,194)
Citation 3

Abstract:

credit risk premim, equity premium, market sharpe ratio, credit risk, structural models of default

15.

Private Equity Funds: Valuation, Systematic Risk and Illiquidity

Number of pages: 61 Posted: 06 Mar 2008 Last Revised: 15 Jan 2015
Axel Buchner, Christoph Kaserer and Niklas Wagner
University of Passau, Technische Universität München (TUM) and Passau University
Downloads 788 (17,921)

Abstract:

private equity, venture capital, buyout, fund life cycle, equilibrium fund values, illiquidity and expected returns, time-varying systematic risk

16.

Family Firms, Agency Costs and Risk Aversion - Empirical Evidence from Diversification and Hedging Decisions

CEFS Working Paper No. 2008-13
Number of pages: 34 Posted: 11 Dec 2008 Last Revised: 03 Jun 2009
The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 780 (20,770)
Citation 3

Abstract:

Family firms, family ownership, family management, risk management, risk aversion, agency costs, diversification, derivatives, hedging, corporate governance

17.

Net Asset Value Discounts in Listed Private Equity Funds

CEFS Working Paper No. 2009-12
Number of pages: 59 Posted: 26 Oct 2009 Last Revised: 29 Nov 2010
Henry Lahr and Christoph Kaserer
The Open University - Business School and Technische Universität München (TUM)
Downloads 740 (25,552)
Citation 2

Abstract:

Listed Private Equity, Private Equity, Venture Capital, Closed-end Fund Discount, Net Asset Value, Book-to-Market Ratio

18.

Accounting for Non-Normality in Liquidity Risk

The Journal of Risk, Volume 14, Number 3, Spring 2012, pp. 3-21, CEFS Working Paper No. 2008-14
Number of pages: 20 Posted: 16 Dec 2008 Last Revised: 09 Apr 2012
Cornelia Ernst, Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management, Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 615 (29,113)
Citation 2

Abstract:

Asset liquidity, liquidity cost, market liquidity risk, non-normality, modified Value-at-Risk, Cornish-Fisher expansion

19.

Market Liquidity in the Financial Crisis: The Role of Liquidity Commonality and Flight-to-Quality

Number of pages: 36 Posted: 03 Jan 2012 Last Revised: 11 Sep 2012
Christoph G. Rösch and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 608 (27,841)

Abstract:

financial crisis, market decline, liquidity costs, asset liquidity, market liquidity, price impact, weighted spread, Xetra liquidity measure (XLM), liquidity commonality, flight-to-quality, flight-to-liquidity, rating, credit risk, crisis

20.

Simulation-Based Valuation of Project Finance - Does Model Complexity Really Matter?

CEFS Working Paper No. 2010-3
Number of pages: 23 Posted: 23 Apr 2010 Last Revised: 29 Sep 2011
Florian Weber, Thomas Schmid, Matthäus Pietz and Christoph Kaserer
Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS), The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 582 (31,665)

Abstract:

Project Finance, Investment Valuation, Stochastic Modeling, Monte Carlo Simulation, Forecasting, Model Complexity

21.

The Impact of Order Size on Stock Liquidity - A Representative Study

CEFS Working Paper No. 2008-9
Number of pages: 41 Posted: 31 Oct 2008 Last Revised: 21 Dec 2008
Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 570 (33,762)
Citation 1

Abstract:

Asset liquidity, liquidity cost, price impact, weighted spread, Xetra liquidity measure (XLM)

22.

Stock Price Effects Associated with Index Replacements in Germany

EFMA 2001 Lugano Meetings
Number of pages: 27 Posted: 23 Mar 2001
Claus Deininger, Christoph Kaserer and Stephanie Roos
University of Wuerzburg - Business Administration & Economics, Technische Universität München (TUM) and University of Wuerzburg - Business Administration & Economics
Downloads 564 (33,984)
Citation 6

Abstract:

23.

Restricting Interest Deductions in Corporate Tax Systems: Its Impact on Investment Decisions and Capital Markets

Number of pages: 36 Posted: 08 May 2008
Christoph Kaserer
Technische Universität München (TUM)
Downloads 560 (34,234)

Abstract:

Interest stripping rule, thin capitalization rule, corporate tax system

24.

Return Attribution in Mid-Market Buy-Out Transactions – New Evidence from Europe

Number of pages: 48 Posted: 19 Oct 2011
Christoph Kaserer
Technische Universität München (TUM)
Downloads 545 (34,301)

Abstract:

earnings enhancement, leveraged buy-out, leverage effect, multiple enhancement, private equity, return decomposition

25.

Corporate Governance and Payout Policy: Do Founding Families Have a Special 'Taste for Dividends'?

CEFS Working Paper
Number of pages: 29 Posted: 18 Feb 2010 Last Revised: 24 Oct 2012
The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 481 (40,847)

Abstract:

Dividend policy, share repurchases, payout policy, family firms

26.

Die Kapitalmarktfähigkeit von Familienunternehmen - Unternehmensfinanzierung über Schuldschein, Anleihe und Börsengang (Capital Market Financing of Family Firms)

Number of pages: 193 Posted: 26 Mar 2011
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 479 (35,904)

Abstract:

Family Firms, Capital Markets, Bonds, IPO, Corporate Finance, Germany, Familienunternehmen, Kapitalmarkt, Anleihe, Schuldschein, Börsengang, Unternehmensfinanzierung

27.

Private Equity in Financial Institutions: Value Creation and Performance

Number of pages: 53 Posted: 16 Nov 2009
Christian Graf, Christoph Kaserer and Daniel Schmidt
Technische Universität München (TUM), Technische Universität München (TUM) and University of Frankfurt, CEPRES Center of Private Equity Research
Downloads 456 (44,255)

Abstract:

Private equity, leveraged buyout, value creation, performance, financial institutions

28.

Lifting the Veil of Accounting Information under Different Accounting Standards - Lessons Learned from the German Experiment

CEFS Working Paper No. 1/2006
Number of pages: 35 Posted: 23 Mar 2006
Carmen V. B. Adamek and Christoph Kaserer
Technische Universität München and Technische Universität München (TUM)
Downloads 437 (49,398)

Abstract:

accrual anomaly, earnings persistency, conservative accounting, true and fair view accounting, accounting standards, accounting regulation, empirical accounting research, German GAAP, IFRS/IAS, US-GAAP

29.

DAXplus Family – Primer on a Family Firm Stock Index in Germany (DAXplus Family – Ein Aktienindex zur Darstellung der Performance von Familienunternehmen) (German)

Center for Entrepreneurial and Financial Studies Working Paper No. 2010-05
Number of pages: 22 Posted: 31 Jul 2010 Last Revised: 19 Aug 2010
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München, TUM Business School and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 422 (47,390)
Citation 1

Abstract:

Family Firm, Style Index, Ownership Structure, Corporate Governance

30.

Executive Pay, Free Float, and Firm Performance: Evidence from Germany

CEFS Working Paper No. 6
Number of pages: 22 Posted: 29 Mar 2005
Christoph Kaserer and Niklas Wagner
Technische Universität München (TUM) and Passau University
Downloads 419 (47,025)

Abstract:

Executive pay, free float, corporate control

31.

The Cost of Raising Capital and Issue Size Effects - The Case of Initial Public Offerings in Germany

Number of pages: 34 Posted: 16 Aug 2000
Christoph Kaserer and Marcus Kraft
Technische Universität München (TUM) and DIT Investment Trust
Downloads 412 (54,045)
Citation 1

Abstract:

32.

External Financing Costs and Economies of Scale in Investment Banking - The Case of Seasoned Equity Offerings in Germany

Number of pages: 37 Posted: 16 Aug 2000
Christoph Kaserer and Thomas Bühner
Technische Universität München (TUM) and University of Fribourg - Business Administration
Downloads 394 (57,356)
Citation 2

Abstract:

Flotation, Raising Capital, Equity Financing, Seasoned Equity Offerings, Investment Banking, Underwriting Fees, Economies Of Scale, Cross-Section Analysis

33.

Ownership Concentration, Blockholder Types and Stock Market Liquidity

Number of pages: 41 Posted: 14 Feb 2011
Christoph G. Rösch and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 331 (61,349)

Abstract:

Liquidity Costs, Asset Liquidity, Market Liquidity, Price Impact, Weighted Spread, Xetra Liquidity Measure (XLM), Ownership Concentration, Blockholders, Insider Ownership, Information Asymmetry

34.

A New Look at the Fama-French Model: Evidence Based on Expected Returns

Number of pages: 42 Posted: 11 Jun 2012 Last Revised: 28 Mar 2014
Matthias X. Hanauer, Christoph Jäckel and Christoph Kaserer
Robeco Asset Management - Quantitative Strategies, Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 330 (44,598)

Abstract:

Expected returns, implied cost of capital, asset pricing, Fama-French three-factor model

35.

The Impact of Managerial Ownership, Monitoring and Accounting Standard Choice on Accrual Mispricing

CEFS Working Paper No. 2009-02
Number of pages: 36 Posted: 30 Jan 2009 Last Revised: 19 May 2009
Bernhard Gegenfurtner, Markus Ampenberger and Christoph Kaserer
Technische Universität München (TUM), Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 326 (71,218)
Citation 1

Abstract:

Accrual Anomaly, Earnings Quality, Corporate Governance, Managerial Ownership, Capital Market Efficiency, Accounting Standard, Shareholder Monitoring, Creditor Monitoring

36.

Tax Driven One-Time Dividends and the Managerial Discretion Hypothesis - New Evidence from Germany

EFMA 2003 Helsinki Meetings
Number of pages: 20 Posted: 08 Jun 2003
Christoph Kaserer, Stephanie Roos and Ekkehard Wenger
Technische Universität München (TUM), University of Wuerzburg - Business Administration & Economics and University of Wuerzburg
Downloads 298 (78,880)
Citation 1

Abstract:

37.

Payout Policy, Taxes, and Corporate Insiders: Evidence from the German Tax Reform 2001

Zeitschrift für Betriebswirtschaft, Forthcoming,
Number of pages: 34 Posted: 03 Apr 2011 Last Revised: 29 Nov 2011
Christoph Kaserer, Marc Steffen Rapp and Oliver Trinchera
Technische Universität München (TUM), University of Marburg - School of Business & Economics and Technische Universität München
Downloads 296 (78,278)
Citation 1

Abstract:

corporate governance, clientele effect, dividend policy, ownership structure, payout policy, share repurchases, taxes, tax reform

38.

Importance of Spatial Proximity between Venture Capital Investors and Investees in Germany

CEFS Working Paper Series 2009-06
Number of pages: 34 Posted: 23 Mar 2010 Last Revised: 29 Sep 2013
Heinrich-Heine-Universität Düsseldorf, Endowed Chair in Entrepreneurship/Entrepreneurial Finance, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)
Downloads 278 (81,303)
Citation 1

Abstract:

Venture capital, new venture, geographic location, entrepreneurial finance

39.

Market Effciency Reloaded: Why Insider Trades Do Not Reveal Exploitable Information

Number of pages: 42 Posted: 03 Mar 2008 Last Revised: 13 Feb 2009
Sebastian Dickgiesser and Christoph Kaserer
Technische Universität München and Technische Universität München (TUM)
Downloads 269 (84,887)
Citation 1

Abstract:

Insider Trading, Directors' Dealings, Arbitrage Risk, Market Efficiency

40.

Entrepreneurship Education in German Speaking Europe - A Mapping

CEFS Working Paper No. 2007-01
Number of pages: 18 Posted: 23 Apr 2008 Last Revised: 09 Oct 2008
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Technische Universität München - Center for Entrepreneurial and Financial Studies and Bruegel
Downloads 263 (79,440)
Citation 1

Abstract:

Education, Entrepreneurship, Entrepreneurship Education

The Cost of Raising Capital - New Evidence from Seasoned Equity Offerings in Switzerland

EFMA 2004 Basel Meetings Paper
Number of pages: 21 Posted: 18 May 2004
Christoph Kaserer and Fabian Steiner
Technische Universität München (TUM) and Independent
Downloads 259 (92,927)

Abstract:

flotation costs, raising capital, equity financing, seasoned equity offerings, investment banking, underwriting fees, economies of scale, cross-section analysis

The Cost of Raising Capital - New Evidence from Seasoned Equity Offerings in Switzerland

Financial Markets and Portfolio Management, Vol. 18, No. 1, pp. 24-38, 2004
Posted: 12 Sep 2005
Christoph Kaserer and Fabian Steiner
Technische Universität München (TUM) and Independent

Abstract:

42.

The German Entrepreneurial Index (GEX®) - A Primer on an Ownership-Based Style Index in Germany

CEFS Working Paper No. 2009-13
Number of pages: 36 Posted: 04 Nov 2009 Last Revised: 13 Nov 2009
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM), Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München - Center for Entrepreneurial and Financial Studies
Downloads 231 (101,561)
Citation 1

Abstract:

insider ownership, style index, ownership structure, corporate governance

43.

The ESS-Indicator: A New Measure of Systemic Risk Applied to the European Financial Sector

Number of pages: 37 Posted: 13 Apr 2011 Last Revised: 30 Jan 2012
Wolfgang Lahmann and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 204 (110,988)

Abstract:

Systemic Risk, European Financial Sector, Systemically Important Financial Institutions, Expected Systemic Shortfall Indicator, Too Big To Fail

44.

Measuring Systemic Risk and Assessing Systemic Importance in Global and Regional Financial Markets using the ESS-Indicator

Number of pages: 116 Posted: 08 Aug 2011 Last Revised: 30 Jan 2012
Wolfgang Lahmann and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 187 (118,983)
Citation 2

Abstract:

Systemic risk, global financial sector, systemically important financial institutions (SIFIs), expected systemic shortfall (ESS) indicator, too big to fail, financial crisis, European sovereign debt (Euro) crisis

45.

Market Liquidity: Does Insider Trading Matter?

Number of pages: 50 Posted: 15 Jul 2011 Last Revised: 15 Jan 2012
Christoph G. Rösch and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 137 (133,748)

Abstract:

Liquidity costs, asset liquidity, market liquidity, price impact, weighted spread, Xetra liquidity measure (XLM), insider trading, information asymmetry

46.

The Impact of the Sarbanes-Oxley Act on the Cost of Going Public

BuR Business Research Journal, Vol. 4, No. 2, pp. 125-147, December 2011
Number of pages: 23 Posted: 03 Jan 2012
Christoph Kaserer, Alfred Mettler and Stefan Obernberger
Technische Universität München (TUM), Georgia State University and Erasmus University Rotterdam - Erasmus School of Economics
Downloads 131 (175,145)

Abstract:

asymmetric information, auditing and legal fees, bookbuilding, IPO, flotation cost, going public, partial adjustment phenomenon, propensity score matching, selection bias, SOX, underpricing, underwriting fees

47.

About the (Non)Linearity in Inflation Hedging

Number of pages: 37 Posted: 10 Aug 2011 Last Revised: 04 Jun 2012
Christoph Kaserer and Maximilian G. Roedel
Technische Universität München (TUM) and Technische Universität München (TUM) - Department of Financial Management and Capital Markets
Downloads 106 (197,352)

Abstract:

asset management, inflation hedging, Fisher hypothesis

48.

Blockholder Power, Shareholder Conflicts and Legal Protection: Evidence from Tax Preferences and Payout Decisions

27th Australasian Finance and Banking Conference 2014 Paper
Number of pages: 66 Posted: 18 Mar 2012 Last Revised: 29 Aug 2014
Christoph Kaserer, Marc Steffen Rapp and Oliver Trinchera
Technische Universität München (TUM), University of Marburg - School of Business & Economics and Technische Universität München
Downloads 104 (172,025)
Citation 1

Abstract:

Corporate Governance, Shareholder Protection, Ownership structure, Payout Policy, Taxes

49.

Das Fama-French Modell und seine Nachfahren: Welche Erkenntnisse verbergen sich im Rauschen von Daten und Methoden? (The Fama-French Model and its Successors: What Insights can be Gained Behind the Noise of Data and Methods?)

Number of pages: 46 Posted: 11 May 2015
Matthias X. Hanauer, Christoph Jäckel and Christoph Kaserer
Robeco Asset Management - Quantitative Strategies, Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 52 (106,736)

Abstract:

Expected returns, implied cost of capital, Fama-French three-factor model, Fama-French five-factor model

50.

The Structure of External Financing Costs and the Economies of Scale View: New Evidence from Seasoned Equity Offerings in Germany

European Financial Management, Vol. 8, pp. 315-358, 2002
Number of pages: 24 Posted: 18 Mar 2003
Christoph Kaserer and Thomas Bühner
Technische Universität München (TUM) and University of Fribourg - Business Administration
Downloads 35 (362,772)
Citation 2
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Abstract:

51.

The Impact of Liquidity Risk: A Fresh Look

International Review of Finance, Vol. 11, Issue 3, pp. 269-301, 2011
Number of pages: 33 Posted: 06 Sep 2011
Sebastian Stange and Christoph Kaserer
Technische Universität München (TUM) - Chair of Business and International Financial Management and Technische Universität München (TUM)
Downloads 3 (512,280)
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Abstract:

The Accrual Anomaly Under Different Accounting Standards Lessons Learned from the German Experiment

Journal of Business Finance & Accounting, Vol. 35, No. 7-8, pp. 837-859, September/October 2008
Number of pages: 23 Posted: 02 Oct 2008
Christoph Kaserer and Carmen Klingler
Technische Universität München (TUM) and affiliation not provided to SSRN
Downloads 1 (553,209)
Citation 6
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Abstract:

The Accrual Anomaly Under Different Accounting Standards - Lessons Learned from the German Experiment

Journal of Business Finance & Accounting, Forthcoming
Posted: 04 Mar 2008
Christoph Kaserer and Carmen V. B. Adamek
Technische Universität München (TUM) and Technische Universität München

Abstract:

accrual anomaly, earnings persistency, conservative accounting, true and fair view accounting, accounting standards, accounting regulation, empirical accounting research, German GAAP, IFRS/IAS, US-GAAP, corporate governance

53.

Systemic Risk in Financial Markets: How Systemically Important Are Insurers?

Number of pages: 62 Posted: 04 Jun 2016 Last Revised: 12 Jan 2017
Christoph Kaserer and Christian Klein
Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 0 (246,921)

Abstract:

financial crisis, European sovereign debt crisis, systemic risk, global systemically important insurer, credit default swap

54.

Did UEFA’s Financial Fair Play Harm Competition in European Soccer Leagues?

Number of pages: 38 Posted: 07 Apr 2016 Last Revised: 23 Jun 2016
Stephan Birkhäuser, Christoph Kaserer and Daniel Urban
Independent, Technische Universität München (TUM) and Technische Universität München (TUM)
Downloads 0 (105,775)

Abstract:

Football, competition, investors, inequality, fair play

55.

Family Firm Heterogeneity and Corporate Policy: Evidence from Diversification Decisions

Corporate Governance: An International Review, Vol. 23, Issue 3, pp. 285-302, 2015
Number of pages: 18 Posted: 29 Apr 2015
The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) and Technische Universität München - Center for Entrepreneurial and Financial Studies
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Abstract:

Corporate Governance, Family firms, Family ownership, Family management, Diversification

56.

Real Earnings Management and Accrual-Based Earnings Management in Family Firms

European Accounting Review Forthcoming
Posted: 23 Jan 2014
Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München (TUM) - Center for Entrepreneurial and Financial Studies (CEFS), Technische Universität München (TUM) and Bocconi University

Abstract:

family firms, accrual-based earnings management, real earnings management, Germany

57.

Family Firms and R&D Behavior - New Evidence from a Large-Scale Survey

Research Policy, Forthcoming
Posted: 26 Sep 2013
The University of Hong Kong - Faculty of Business and Economics, Technische Universität München - Center for Entrepreneurial and Financial Studies, Technische Universität München - Center for Entrepreneurial and Financial Studies and Technische Universität München (TUM)

Abstract:

family firms, family control & management, R&D intensity, opacity

58.

Is Infrastructure Really Low Risk? An Empirical Analysis of Listed Infrastructure Firms

Published as "The risk profile of infrastructure investments - Challenging conventional wisdom" in Journal of Structured Finance, Summer 2012
Posted: 20 Apr 2011 Last Revised: 06 Jun 2012
Christoph Rothballer and Christoph Kaserer
Technische Universität München (TUM) and Technische Universität München (TUM)

Abstract:

corporate risk, market risk, idiosyncratic risk, infrastructure investments

59.

The Time-Varying Risk of Listed Private Equity

Journal of Financial Transformation, Vol. 28, pp. 87-93, 2010
Posted: 27 Apr 2010
Christoph Kaserer, Henry Lahr, Valentin Liebhart and Alfred Mettler
Technische Universität München (TUM), The Open University - Business School, affiliation not provided to SSRN and Georgia State University

Abstract:

Listed private equity, venture capital, time-varying risk, systematic risk

60.

How Issue Size, Risk, and Complexity are Influencing External Financing Costs - German IPOs Analyzed from an Economies of Scale Perspective

Journal of Business Finance and Accounting, Forthcoming
Posted: 10 Jun 2002
Christoph Kaserer and Marcus Kraft
Technische Universität München (TUM) and DIT Investment Trust

Abstract:

flotation costs, raising capital, initial public offerings, underwriting fees, economies of scale

61.

The Causes of IPO-Underpricing in the German Capital Market

ZEITSCHRIFT FUER BANKWIRTSCHAFT UND BANKRECHT, 1995
Posted: 14 Nov 2000
Christoph Kaserer and Volker Kempf
Technische Universität München (TUM) and affiliation not provided to SSRN

Abstract:

62.

German Banks and Corporate Governance - A Critical View

Posted: 12 Sep 1997
Christoph Kaserer and Ekkehard Wenger
Technische Universität München (TUM) and University of Wuerzburg

Abstract: