L. (Lars) Norden

Endowed Professor
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Member ERIM
Field: Finance & Accounting
Affiliated since 2009

Lars Norden is Professor of Banking and Finance at Rotterdam School of Management, Erasmus University (RSM). His research interests include financial intermediation, empirical banking, credit risk, and empirical finance. His work has been published in the leading academic journals in the field including the Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, Review of Finance, and Journal of Banking and Finance. He is a regular presenter at top conferences including the AEA, AFA, WFA, EFA, and FIRS. Before joining RSM in 2009, he was Assistant Professor at the University of Mannheim in Germany. He has been a visiting researcher at Indiana University and the research center of the Deutsche Bundesbank. Professor Norden holds a doctoral degree in business administration from the University of Mannheim and graduate degrees from the University of Mannheim and ESSEC Business School in France.

  • Norden, L. (2009). Information and risk in bank lending: Empirical evidence. Mannheim: Habilitationsschrift, University of Mannheim.
  • Norden, L. (2001). Gewährung und Gestaltung einer Fremdfinanzierung – Entscheidungen in der Kreditpraxis. In F. Eisenfuehr, T. Langer & M. Weber (Eds.), Fallstudien zu rationalem Entscheiden (pp. 49-68). Berlin: Springer Verlag.
  • Norden, L. (2004, Juli 07). Kreditderivate: Zwischen Kapitalmarkt und bankbetrieblicher Verwendung. University of Mannheim (234 pag.) (Mannheim: Dissertation). Prom./coprom.: M. Weber & U. Schreiber.
  • Norden, L. (2014). Why business credit information sharing leads to better lending decisions. RSM Insight, 17 (1), 18-19.
  • Illueca, M., Norden, L. & Udell, G. (2013). When Good Intentions Go Wrong: Effects of Bank Deregulation and Governance on Risk Taking. VoxEU.org.
  • Norden, L., Roosenboom, P.G.J. & Wang, T. (2013). Do bankbailouts have a silver lining? RSM Insight, 16 (4), 14-15.
  • Norden, L. (2013). Lessen van deregulering. Banking Review, 25 (zomer), 24.
  • Illueca, M., Norden, L. & Udell, G. (2013, Oktober 17). When Good Intentions Go Wrong: Effects of Bank Deregulation and Governance on Risk-taking. CESifo Dice Report 3/2013, pp. 48-54.
  • Grunert, J. & Norden, L. (2011). Soft information matters in SME lending. RSM Insight, 6 (2), 10-11.
  • Kortüm, B., Norden, L. & Weber, M. (,). Rechtzeitig analysieren - Die Messung von Konzentrationsrisiken im Kreditgeschäft ist wichtig. Bankinformation und Genossenschaftsforum, pp. 42-46.
Vlado Kysucky

Bank lending in a changing economic environment

Editorial positions

  • Journal of Financial Services Research

    Associate Editor

Organization Membership

Current courses

Research in Corporate Finance

This proposal is broadly defined as empirical research in Corporate Finance. We invite candidates to indicate their preferences for a specific topic in this broader field. In this proposal we provide several directions for a specific topic and we present potential supervisors. In corporate finance, the financial and strategic decisions are studied from a financial economics perspective. Our group is specialized in empirical research in this field. The first topic in this field is financing/capital structure decisions including bank loans, private equity and start-up or venture capital financing. The second, related topic is financial intermediation. A third topic is financial history. The final topic is corporate governance, which includes shareholder rights and activism and managerial compensation issues.

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Visiting address

Office: Mandeville Building T08-31
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam

Latest publication

Kysucky, V. & Norden, L. (2015). The Benefits of Relationship Lending in a Cross-Country Context: A Meta-Analysis. Management Science, Accepted, 1-39.