In corporate finance, the group is working both on theoretical and empirical issues. Current theoretical, empirical, and policy areas of extended interest include corporate governance (in particular managerial compensation), market microstructure, and relationship banking. The group further continues to be engaged in theoretical and empirical research across a wide range of topics including the interaction between product and capital markets, venture capital finance, trade credit, market liquidity, debt renegotiation, structural pricing, investment constraints, incremental capital structure decisions, IPOs, and transitional finance.
The research area of investment, asset pricing, and financial econometrics covers more and more topics. Mutual funds, hedge funds, and institutional investors continue to be a major research topic. There is ongoing empirical research with US and European data on performance and risk-behavior of managers. Style-analysis of mutual funds is a topic, as well as well as the behavior of mutual fund investors. Related to this, the research field of market microstructure is very active, also focussing on high-frequency empirical asset pricing. In investment, the study of robustness of hedging strategies is relatively new. With respect to asset pricing, option (mis-)pricing, multiname derivatives (copulas), and interest derivatives remain key points of interests. Computational issues related to these are also studied. In the domain of financial econometrics, semiparametric duration models are studied. Models of volatility remain of interest as well. Another topic deals with risk factors such as momentum, but also the valuation of inflation and other economic risks. .
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