Research

Currently on the Job Market, will be attending the ASSA/AFA meetings in Atlanta, January 2018

1. Depositors Disciplining Banks: The Impact of Scandals

Job Market Paper

Do depositors react to negative non-financial information about their banks? By using branch level data for the U.S., I show that banks, that financed the highly controversial Dakota Access Pipeline, experienced significant decreases in deposit growth, especially in branches located closest to the pipeline. These effects were greater for branches located in environmentally or socially conscious counties and data suggests that savings banks were among the main beneficiaries of this depositor movement. Using a global hand-collected dataset on tax evasion, corruption and environmental scandals related to banks, I show that negative deposit growth as a reaction to scandals is a more widespread phenomenon.

Media – 1) Financial Times 2) Chicago Booth ProMarket 3) VoxEU 4) Tax Justice Network 5) BankTrack 6) BankTrack Newsletter

VideoFederal Reserve Bank of St. Louis Presentation

Conference and Seminar Presentations – Scheduled – Chicago Booth Economics of Social Sector Organizations Conference (US), Scheduled – SAFE conference on Sustainable Architecture for Finance (Germany), Scheduled – Geneva Summit on Sustainable Finance (Switzerland), The Federal Reserve’s sixth annual Community Banking in the 21st Century research and policy conference (US) PRI Academic Network Conference (US), Inaugural Conference, Global Research Alliance for Sustainable Finance and Investment (the Netherlands), Chicago Booth Stigler Center Political Economy of Finance 2018 (US), 25th Global Finance Conference (France), European Financial Management Association 2018 Annual Meeting (Italy), 5th Sussex Young Finance Scholars Conference (UK), Cass Research Days (UK), 6th International Symposium on Environment & Energy  Finance Issues  (France), the 35th Annual Conference of the French Finance Association  (France), ETHOS (UK), the Wharton School (US), MIDAs (US), Cass Business School (UK) and Tilburg University (the Netherlands)

2. Universal Corporate Governance

with Hao Liang (Singapore Management University)

3. How Institutional Investors’ Collective Engagement on ESG Issues Create Value for Investors and Corporations

with Jean-Pascal Gond (Cass Business School), Rieneke Slager (Nottingham University), Michael Viehs (Hermes), Niamh O’Sullivan (Nottingham University) and in cooperation with the UNPRI. Additional Material – 1) RI Quarterly 2) UNPRI 3) Cass News

4. The Real Effects of Entering and Exiting Tax Havens

with Thorsten Beck (Cass Business School) and André F. Silva (Cass Business School)

5.  Finance and Demand for Skill: Evidence from Uganda

with Thorsten Beck (Cass Business School) and Burak Uras (Tilburg University)

Additional Material:

UNPRI in Person

Below you will find information on “Corporate ESG Engagement and Value Creation” presented by our research team at the UNPRI conference in Berlin. At the conference, I also gave a presentation on the “Future of Responsible Investments” (twitter link) and you can find the “winning” essay below. The event was set-up as a competition and I must also acknowledge the strength and passion of Laila Dib who gave a phenomenal and energetic presentation. You can find information on her ideas as well on the second link.

EVENT – 1) Official Publication 2) Handle with care: The empowered millennial 3) ESG Engagement and Value Creation

CONSCIOUS FINANCE: A REVIEW –

These slides are a compilation of academic articles that deal with the “Good” and “Bad” sides of finance. These slides were originally used for a presentation on “Finance and Corporate Social Responsibility – A Review on Literature” and since then have developed to include a range of papers from environmental economics, ethical banking, natural disaster finance, experimental economics, social capital, tax evasion, corruption and much more. There are currently over 200 slides and articles are organized according to their respective subfields. These slides are continuously updated and are meant as a helpful tool for the review of literature and not for the endorsement of any specific articles. All errors are my own. Please notify me in case of errors or material that you may deem important and if you are more broadly interested in contributing to this review, please get in touch!

SLIDES – Conscious Finance – Updated: 14/11/2018

CONSCIOUS CAPITAL: A PRESENTATION –

These slides are from a recent talk I gave at Goodenough College. In my presentation, I asked; how can the average person tackle global challenges including climate change, tax evasion, inequality and deforestation? I begin by discussing the immense transformation of modern financial capital and how investors are continuously re-evaluating their objectives. Ethical banks are growing in numbers, green bonds are skyrocketing and asset managers are increasingly competing with green investment strategies. What can the average person do? Quite a lot! This presentation discusses the success stories of the Average Joe and how they can continue tackling immense societal challenges. If you have any questions on specific content that is not written directly in the slides, please do not hesitate to contact me!

SLIDES – Conscious Capital

TEACHING –

I have taught lectures covering the following topics;

  1. Banking & Financial Institutions
  2. Banking Regulation
  3. Bank Risk Management
  4. Bank Strategy and Management

I am also eager to teach topics on;

  1. Socially Responsible Investments
  2. Corporate Social Responsibility
  3. Environmental Finance
  4. Corruption & Tax Evasion

DISCUSSIONS –

Depositor Discipline and LOLR facilities
Francesca Daniela Lenoci
European Financial Management Association 2018 Annual Meeting

CDS Rate Construction Methods by Machine Learning Techniques
Zhongmin Luo and Raymond Brummelhuis
25th Global Finance Conference

When Paper Losses Get Physical: Domestic Violence and Stock Returns
Tse-Chun Lin and Vesa Pursiainen
35th Annual Conference of the French Finance Association