Past Highlights

Past Highlights

November 2013:

  • The paper 'Disagreement and the Informativeness of Stock Returns: The Case of Acquisition Announcements' by Frederik Schlingemann (co-authored by Leonce L. Bargeron, Kenneth Lehn, Sara Moeller) is forthcoming in the Journal of Corporate Finance.
  • The paper 'Does stock liquidity affect the incentives to monitor?' by Peter Roosenboom, Frederik Schlingemann (co-authored by Manuel Vasconcelos) has been accepted for publication in The Review of Financial Studies.

October 2013:

  • On Thursday October 31st, 2013 Graduates of the MSc in Finance and Investments Programme (MSc F&I) received their diploma. More detailed information can be found here.
  • The paper 'The internal capital markets of business groups: Evidence from intra-group loans' by Francisco Urzua Infante (co-authored by David Buchuk, Francisco De Borja Larrain and Francisco Munoz) has been accepted for publication in the Journal of Financial Economics.  
  • Sarah Draus starts as an Assistant Professor at RSM's Finance Department. Sarah has a Ph.D. from the University Paris-Dauphine and used to work for the University of Naples Federico II as an Academic Researcher.
  • The paper 'Corporate Leverage and the collateral Channel' by Lars Norden and Stefan van Kampen has been accepted for publication in the Journal of Banking and Finance.
  • The paper 'Venture Capital and New Business Creation' by Peter Roosenboom (co-authored by A. Popov) has been published in the Journal of Banking and Finance.

September 2013:

  • The paper 'Front-Running of Mutual Fund Fire-Sales' by Teodor Dyakov and Marno Verbeek has been accepted for publication in the Journal of Banking and Finance.
  • Fabrizio Spargoli starts as an Assistant Professor at RSM’s Finance Department. Fabrizio has a Ph.D. from the University Pompeu Fabra. His research and teaching interests lie in the areas of Financial Economics, Banking and Financial Regulation.
  • Francisco Urzúa Infante starts as an Assistant Professor at RSM’s Finance Department. Francisco has a Ph.D. from the Tilburg University. His research and teaching interests lie in the areas of Corporate Finance and Corporate Governance.

August 2013:

  • Anjana Rajamani starts as an Assistant Professor at RSM's Finance Department. Anjana has a Ph.D. from the University of Pittsburgh. Her research and teaching interest lie in the areas of Empirical Corporate Finance and Mergers & Acquisitions.

July 2013:

  • The paper 'Information Content when Mutual Funds Deviate from Benchmarks' by Marno Verbeek, Hao Jiang (co-authored by Yu Wang) has been accepted for publication in Management Science.

May 2013:

  • The paper 'Commodity-based Consumption Tracking Portfolios and the Cross-Section of Average Stock Returns' by Marta Szymanowska (co-authored by Kewei Hou) has been accepted for presentation at the 2014 AFA Meeting in Philadelphia, USA.
  • The paper 'Financial Constraints of Private Firms and Bank Lending Behavior' by Lars Norden (co-authored by Patrick Behr and Felix Noth) has been accepted for publication in the Journal of Banking and Finance.

April 2013:

  • The paper 'The Demand for Mortgage Insurance' by Ruben Cox has won the first prize of the Doctoral Student Paper Awards at the 2nd European Retail Investments Conference.
  • The paper 'Liberalization and Risk Taking: Evidence from Government-Controlled Banks' by Lars Norden (co-authored by Manuel Illueca and Greg Udell) has been accepted for publication in the Review of Finance.
  • The paper 'Business Credit Information Sharing and Default Risk of Private Firms' by Lars Norden has been accepted for publication in the Journal of Banking and Finance.
  • The paper 'Better than the Original? The Relative Success of Copycat Funds' by Marno Verbeek (co-authored by Yu Wang) has been accepted for publication in the Journal of Banking and Finance.
  • The RSM student team (mentored by Peter Roosenboom) entered into the finals of the Dutch/Belgium Local Finals of the CFA Institute Research Challenge. The finals were on February 28 in Amsterdam. The RSM team who won the first prize was awarded € 1000 in ING Investment Management Scholarships and will represent the Netherlands and Belgium at the EMEA finals in London.

March 2013:

  • Marno Verbeek, Hao Jiang and Yu Wang have won the top prize in the Standard & Poor Dow Jones Indices' second annual SPIVA Awards programme, for their comprehensive study offering a new perspective in the debate about active management of funds versus passive investing. If you click here you will find the whole press release by Rotterdam School of Management, Erasmus University.
  • As of August 2013, Anjana Rajamani will join our department. Anjana is currently finalizing her PhD in Finance at the University of Pittsburgh.
  • As of September 2013, Fabrizio Spargoli and Francisco Urzua Infante will join our department. Fabrizio is currently finalizing his PhD in Economics at the University Pompeu Fabra and Francisco is finalizing his PhD in Finance at the Tilburg University.
  • As of October 2013, Sarah Draus will join our department. Sarah is currently working as an academic researcher at the University of Naples Federico II. Her major research interests are market microstructure, information disclosure, industrial organization.

December 2012:

  • The paper 'An Anatomy of Commodity Futures Risk Premia' by Marta Szymanowska, Frans de Roon, Theo Nijman and Rob van den Goorbergh is forthcoming in the Journal of Finance.

October 2012:

August 2012:

  • Mathijs van Dijk has been appointed as Professor of Financial Markets effective July 1, 2012. Mathijs van Dijk holds this chair, endowed by the Erasmus Trust Fund. Please click here to read the whole press release.
  • The paper 'One size does fit all: Selling firms to private equity versus strategic acquirers' by Peter Roosenboom (co-authored by J. Fidrmuc, R. Paap and T. Teunissen) is forthcoming in Journal of Corporate Finance.
  • We are very proud to announce that Dion Bongaerts, Associate Professor of Finance has been awarded with an NWO Veni grant for his proposal 'Effective Regulation of Credit Rating Agencies'.
  • Egemen Genç starts as an Assistant Professor at RSM's Finance Department. Egemen has a Ph.D. from the University of Oregon. His research and teaching interest lie in the areas of Asset Pricing and Mutual Funds. 

June 2012:

  • The paper 'The Impact of Government Intervention in Banks on Corporate Borrowers' Stock Returns' by Lars Norden, Peter Roosenboom and Teng Wang is forthcoming in Journal of Financial and Quantitative Analysis.

May 2012:

  • The paper 'Can skin-in-the-game discipline credit rating agencies' by Dion Bongaerts has been accepted for presentation at the 2012 European Finance Association in Copenhagen.
  • The paper 'Identifying Cross-Liquidity Externalities' by Elvira Sojli (co-authored by Wing Wah Tham and Johannes Skjeltorp) has been accepted for presentation at the 2012 European Finance Association in Copenhagen.
  • The paper 'Do Changes in the Timeliness of Loan Loss Recognition Affect Bank Risk Taking?' by Lars Norden (co-authored by Manuel Illueca and Gregory F. Udell) has been accepted for presentation at the 2013 American Finance Association Meetings in San Diego.
  • The paper 'Dispersion in Beliefs among Active Mutual Funds and the Cross-section of Stock Returns' by Hao Jiang (co-authored by Zheng Sun) has been accepted for presentation at the 2013 American Finance Association Meetings in San DIego.
  • The paper 'When do managers seek private equity backing in public-to-private transactions?' by Peter Roosenboom (co-authored by J. Fidrmuc, A. Palandri and D.J.C. van Dijk) is forthcoming in the Review of Finance.

April 2012:

  • The paper 'Corruption, growth, and governance: Private vs. state-owned firms in Vietnam' by Mathijs van Dijk (co-authored by Thuy Nguyen) is forthcoming in the Journal of Banking and Finance.
  • Marno Verbeek has become Associate Editor of 'De Economist' and 'Prikladnaya Ekonometrika / Прикладная эконометрика'. 
  • Marno Verbeek has been elected Board Member of the European Institute for Advanced Studies in Management (EIASM).
  • Dion Bongaerts will participate in the 4nations cup which will take place on May 11, 2012. The 4nations cup is a contest among the most promising young scholars in financial economics.

March 2012:

  • The paper 'Bidder Hubris and Founder Targets' by Marieke van der Poel and Frederik Schlingemann (co-authored by Nandu J. Nagarajan and Mehmet F. Yalin) has been accepted for presentation at the FSU Suntrust Beach Conference (selection 10 out of 170 papers) and 2012 Corporate Governance, Drexel University (selection 5 out of 70 papers). 
  • The paper 'Dispersion in Beliefs among Active Mutual Funds and the Cross-Section of Stock Returns' by Hao Jiang (co-authored by Zheng Sun) has been accepted for presentation at the Napa Conference on Financial Markets at the UC Davis (selection 6 out of 194 papers). 

February 2012:  

  • The 4th (updated and revised) edition of A Guide to Modern Econometrics by Marno Verbeek was published by John Wiley and Sons.
  • The paper ‘Valuing and pricing IPOs’ by  Peter Roosenboom is forthcoming in Journal of Banking & Finance.
  • The paper 'Venture Capital and Patented Innovation: Evidence from Europe' by Peter Roosenboom (co-authored by Alexander Popov) is forthcoming in Economic Policy. 

January 2012:

  • In January 2012 we awarded 15 CFA scholarships (worth approximately $15,000) to our top MsCFI students.
  • In January 2012 the RSM student team (mentored by Peter Roosenboom) entered into the finals of the Dutch/Belgium Local Finals of the CFA Institute Research Challenge. As part of this challenge students need to write and present an analyst report.  The finals were on February 15 in Amsterdam. The RSM team won first place for the best presentation and a prize of 500 euros. In the overall ranking (report and presentation) the RSM team came in second place after Tilburg University.

December 2011: 

  • The paper ‘Asset Pricing Restrictions on Predictability: Frictions Matter’ by Marta Szymanowska (co-authored with Frans de Roon) is forthcoming in Management Science 
  • Dion Bongaerts who has won the ERIM Award for Outstanding Performance by a Young Researcher.
  • Hao Jiang who has won the ERIM Top Article Award for his paper ‘Institutional investors, intangible information, and the book-to-market effect’ which was published in Journal of Financial Economics. 
  • The paper ´The Implied Cost of Capital: A New Approach´ by Mathijs van Dijk (co-authored by Kewei Hou and Yinglei Zhang) is forthcoming in the Journal of Accounting and Economics. 

November 2011:

  • On Thursday November 11th, 2011 Graduates of the first cohort of the newly-accredited MSc in Finance and Investments Programme (MSc F&I) received their diplom. 
  • Peter Roosenboom has been appointed as Associate Editor of the Journal of Banking and Finance and also the Multinational Finance Journal. 
  • The paper ‘Why Do Firms Go Public? The Role of the Product Market’ (by Peter Roosenboom, Abe de JongTeye Marra (University of Groningen) and Carel Huigen (University of Groningen) has been accepted for publication in the Journal of Business, Finance and Accounting. 

October 2011:

  • Dion Bongaerts won the EFA 2011 Best Conference Award for his paper ‘An Asset Pricing Approach to Liquidity Effects in Corporate Bond Markets (co-authored by Frank de Jong and Joost Driessen).  

July 2011:

  • The paper "Understanding commonality in liquidity around the world", by Mathijs van Dijk which is joint work with Andrew Karolyi and Kuan-Hui Lee is unconditionally accepted for the Journal of Financial Economics. 
  • The paper “The stock market price of commodity risk" (by Marta Szymanowska with Martijn Boons and Frans de Roon) has been accepted for the presentation at the 2012 AFA Chicago meeting.  
  • The paper “Banks’ use of credit derivatives and the pricing of loans: What is the channel and does It persist under adverse economic conditions?” (by Lars Norden, Consuelo Silva Buston and Wolf Wagner) has been accepted for presentation at the International Risk Management Conference 2011 in Amsterdam. 
  • The paper Sunshine trading: Flashes of trading intent at the NASDAQ (by Elvira Sojli, Wing Wah Tam and Johannes A. Skjeltorp) will be presented at the European Finance Association Meetings and the American Finance Association Meetings. 
  • The paper “The Impact of Government Intervention in Banks on Corporate Borrowers’ Stock Returns” (by Lars Norden, Peter Roosenboom and  Teng Wang) has been accepted for presentation at the European Finance Association 2011 Conference in Stockholm. 
  • The paper “The Impact of Government Intervention in Banks on Corporate Borrowers’ Stock Returns” (by Lars Norden, Peter Roosenboom and  Teng Wang), has been accepted for presentation at the IFABS 2011 Conference in Rome. 
  • The paper “Financial Constraints of Private Firms and Government Ownership in Banks” (by Patrick Behr, Lars Norden and Felix Noth), has been accepted for presentation at the IFABS 2011 Conference in Rome. 
  • The paper “Banks’ use of credit derivatives and the pricing of loans: What is the channel and does it persist under adverse economic conditions?” (by Lars Norden, Consuelo Silva Buston and Wolf Wagner) has been accepted for presentation at the IFABS 2011 Conference in Rome. 
  • The paper “Does Equity-Based Compensation Really Have a Dark Side? The Influence of Regulatory Discretion” (by Buhui Qiu with Mike Ferguson and Weihong Song) has been accepted for presentation at the FifthSingapore International Conference on Finance, July 19 & 20, 2011. This is one of the international finance conferences that have the lowest acceptance rate. Only 11 papers accepted (from 180 papers). 
     The same paper also has been accepted for presentation at the 2011 China International Conference in Finance organized by MIT and Tsinghua (acceptance rate 25% only). 
  • The paper “Endogenous Information Disclosure and Regulatory Reforms” (by Buhui Qiu with Renhui Fu and Yong Kim) has been accepted for presentation at the 2011 American Accounting Association Annual Meeting (FARS section). AAA (FARS) is the accounting conference that has the lowest acceptance rate, which is only 10-15%. The paper also has been accepted for presentation at the 2011 China International Conference in Finance organized by MIT and Tsinghua. 
  • The paper “Do Mutual Fund Managers Trade on Stock Intrinsic Values?”(by Marno VerbeekYu Wang and Rui Shen has been accepted for presentation at the EFA 2011 meetings in Stockholm, August 17-20, 2011. 

April 2011:

  • The paper "Corporate Financial Constraints, Bank Governance, and Financial System Stability" by Lars Norden (joint with Patrick Behr, Fundacao Getulio Vargas, Rio de Janeiro, and Felix Noth, Goethe University Frankfurt) has been accepted for presentation at the FIRS 2011 Conference in Sydney. 
  • The paper “Bond Market Turnover and Credit Spread Changes” by Viorel Roscovan has been accepted for presentation at the FIRS 2011 Conference in Sydney.  
  • The paper "The Stock Market Price of Commodity Risk" by Marta Szymanowska (joint with Martijn Boons and Frans de Roon, Tilburg University) has been accepted for presentation at the FIRS 2011 Conference in Sydney. 
  • Mathijs Cosemans currently working at the University of Amsterdam will join our department as of December 1st, 2011 as an Assistant Professor. Mathijs has a PhD from Maastricht University. His research and teaching interests lie in the areas of Empirical Asset Pricing, Financial Econometrics, Behavioral Finance and Portfolio Choice. 
  • In May 2011 we will host Sheridan Titman, Miles Livingston, Randall Morck and Gregory Udell as visitors. More information can be found on our visitors website  

December 2010

  • The paper ‘Bargaining power and information in SME lending’ by Lars Norden (co-authored by Jens Grunert) has been accepted for publication in Small Business Economics. 

October 2010

  • The paper ‘Why Panel Tests of Purchasing Power Parity Should Allow for Heterogeneous Mean Reversion’ by Mathijs van Dijk and Ben Tims (co-authored by Kees Koedijk) is forthcoming in the Journal of International Money and Finance. 
  • The paper ‘Firms' debt-equity decisions when the static tradeoff theory and the pecking order theory disagree’ by Abe de Jong, Marno Verbeek (co-authored by Patrick Verwijmeren) is accepted for the Journal of Banking and Finance.
  • Mark Van Achter starts as assistant professor at RSM's Department of Finance. Mark comes from the University of Mannheim and has a PhD from Catholic University of Leuven. His research and teaching interests lie in the areas of Microstructure of Financial Markets, Information and Financial Markets, Experimental Finance, and Industrial Organization.

June 2010

  • The papers ‘Loan Growth and Riskiness of Banks’ by Lars Norden (co-authored by Daniel Foos and Martin Weber) and ‘Global Equity Fund Performance, Portfolio Concentration, and the Fundamental Law of Active Management’ by Joop Huij (co-authored by Jeroen Derwall) have been accepted for publication in the Journal of Banking and Finance.
  • The MSc in Finance & Investments has received the independent accreditation of the NVAO.

March 2010

  • The papers "The Implied Cost of Capital: A New Approach" by Mathijs van Dijk (and Kewei Hou), and "Do Higher-Moment Equity Risks Explain Hedge Fund Returns?" by Joop Huij (with Vikas Agarwal and Gurdip Bakshi) have been accepted for presentation at the 2010 Western Finance Association (WFA) Meetings, in Victoria, Canada (June 2010). 
  • Frederik-Paul Schlingemann joins our department as full professor. Frederik's research and teaching interests focus on financing and investment decisions in corporations, particularly related to mergers and acquisitions. He is also an associate professor of finance at the Katz Graduate School of Business at the University of Pittsburgh.

February 2010

  • Three top publications accepted! The paper “Derivative Pricing with Liquidity Risk: Theory and Evidence from the Credit Default Swap Market” by Dion Bongaerts (co-authored by Joost Driessen and Frank de Jong) has been accepted at The Journal of Finance. The paper “Credit Line Usage, Checking Account Activity, and Default Risk of Bank Borrowers” by Lars Norden (with Martin Weber) has been accepted at the Review of Financial Studies, and the paper “Why Do Convertible Issuers Simultaneously Repurchase Stock? An Arbitrage-Based Explanation” by Abe de Jong (with Marie Dutordoir and Patrick Verwijmeren) has been accepted for publication in the Journal of Financial Economics.

November 2009

  • The paper "Agglomeration Effects and Financial Performance" by Maarten Jennen (with Patrick Verwijmeren) has been accepted in Urban Studies.
  • Start of the RSM Finance Visitor Program. Each year several eminent finance scholars from top international schools are invited to visit our department for a period of one to four weeks. Our first guest is Allaudeen Hameed (National University of Singapore) from 29 November to 14 December 2009.  
  • In the Spring of 2010, we will host Miles Livingston (University of Florida) and Uli Hege (HEC Paris).
  • Dion Bongaerts starts as assistant professor at RSM's Department of Finance. Dion comes from University of Amsterdam's Finance Group, where he is expected to graduate from the PhD programme early 2010. His research and teaching interests lie in the areas of Credit Risk, Banking, Financial Econometrics, and Credit Risk Derivatives.

October 2009

  • The paper "An Anatomy of Commodity Futures Risk Premiums" by Marta Szymanowska (with Frans de Roon, Theo Nijman, and Rob van den Goorbergh) has been selected for presentation at the 2010 American Finance Association (AFA) Annual Meeting, in Atlanta.

September 2009

  • Lars Norden starts as assistant professor at RSM's finance department. Lars has a Ph.D. from the University of Manheim. His research and teaching interests lie in the areas of Financial Institutions, Empirical Banking, Empirical Finance, Credit Risk Transfer. 

August 2009

  • Buhui Qiu starts as assistant professor at RSM's finance department. Buhui has a Ph.D. from the University of Cincinnati. His research and teaching interests lie in the areas of corporate finance, corporate governance, and financial institutions. 

July 2009

  • The paper "The market reaction to cross-listings: Does the destination market matter?" by Mathijs van Dijk and Peter Roosenboom has been accepted for publication in Journal of Banking and Finance. 

June 2009

  • The paper "Asset Pricing Restrictions on Predictability: Frictions Matter" by Marta Szymanowska (with Frans de Roon) has been selected for presentation at the 2009 Western Finance Association (WFA) Annual Meeting in San Diego.

March 2009

  • Elvira Sojli’s paper (with Lucio Sarno) “Exchange Rate Forecasting, Order Flow and Macroeconomic Information” has been accepted for publication in the Journal of International Economics.

February 2009

  • Hao Jiang’s paper “Institutional Investors, Intangible Information and the Book-to-Market Effect” has been accepted for publication in the Journal of Financial Economics.

December 2008

  • The paper “Testing the Pecking Order Theory: The Impact of Financing Surpluses and Large Financing Deficits” by Abe de Jong, Patrick Verwijmeren and Marno Verbeek has been accepted for publication in Financial Management.