Publications

All publications

• Scientific publication

  Economic Journal: Taxing Externalities Under Financing Constraints

  We consider a production economy with externalities, which can be reduced by additional firm-level expenditures. This requires firms to raise additional outside financing, leading to…

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• Scientific publication

  Corporate Finance: Sustainable and conventional mutual funds: Do they really differ?

  This study empirically analyzes the claim that sustainable funds are masked conventional funds for a small part of the German equity fund market. Additionally, we…

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• Scientific publication

  Corporate Ownership and Control: The Effects of Ownership Concentration on Sustainability: A Case of Listed Firms from USA, UK and Germany

  Concentrated ownership has been speculated to play a direct role in leading firms to focus more on long-term sustainability. Concentrated ownership, however, can take many…

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• Scientific publication

  Corporate Finance: Characterizing German (Sustainable) Investors

  This paper highlights the results of four empirical studies, based on the same representative survey among German retail investors. We analyze the differences between sustainable,…

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• Scientific publication

  BuR – Business Research: Comparing those who do, might and will not invest in sustainable funds – A survey among German retail fund investors

  In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads).…

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• Scientific publication

  Journal of Banking & Finance: Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability

  In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads).…

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• Scientific publication

  Qualitative Research in Financial Markets: Private ethical fund investors across countries and time: A survey-based review

  This paper aims to provide an overview of the literature to point out similarities and differences among private ethical investors across countries and time. Over…

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• Scientific publication

  Energy Policy: Designing an EU energy and climate policy portfolio for 2030: Implications of overlapping regulation under different levels of electricity demand

  The European Union׳s current climate and energy policy has to operate under an ex ante unforeseen economic crisis. As a consequence prices for carbon emission…

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• Scientific publication

  European Journal of Operational Research: Tri-criterion modeling for constructing more-sustainable mutual funds

  One of the most important factors shaping world outcomes is where investment dollars are placed. In this regard, there is the rapidly growing area called…

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• Scientific publication

  Journal of Asset Management: Are they any good at all? A financial and ethical analysis of socially responsible mutual funds

  In this article, we examine a broad sample of socially responsible (SR) and conventional mutual funds with respect to financial and ethical parameters. We cannot…

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