We study 98 large M&As of European bidding banks from 1985 to 2000 in order to
investigate drivers of excess returns to the shareholders of the targets, the bidders, and to the …

The young growing market for green bonds offers investors the opportunity to take an explicit
focus on climate protecting investment projects. However, it is an open question whether …

… Dirk Schiereck is assistant professor of banking and finance at the University of Mannheim,
Germany. Werner De Bondt is Frank Graner Professor of Investment Management at the …

Blockchain technology and distributed ledgers are attracting massive attention and trigger
multiple projects in different industries. However, the financial industry is seen as a primary …

Based on recent hacker attacks targeting consumer electronics companies, this article
investigates the direct financial consequences for the owners of victim companies. To quantify this …

The explanatory power of size, value, profitability and investment has been extensively
studied for equity markets. Yet, the relevance of these factors in global credit markets is less …

We analyze the dynamics of airline stock prices surrounding the recent terrorist attacks in
Paris and Brussels. We find that the adjustment of stock prices is consistent with the …

This article examines the long‐run stock market performance of German and Spanish initial
public offerings (IPOs) between 1990 and 2000. We distinguish between family‐ and …

In this paper we empirically analyze whether the degree of trader anonymity is related to the
probability of information-based trading. We use data from the German stock market where …

… Dirk Schiereck is professor of finance and holds the chair of capital market research and
corporate governance at the University of Witten/Herdecke, Germany; E-mail address: schiereck…