dr. D.G.J. (Dion) Bongaerts

Associate Professor
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Member ERIM
Field: Finance & Accounting
Affiliated since 2010

Dion Bongaerts is an Associate Professor of Finance at RSM Erasmus university. He specializes in the behavior of credit rating agencies, the pricing of credit risky instruments, and the origins and effects of market illiquidity. His work has been presented at major conferences around the world, including the AFA, WFA, EFA and NBER meetings and published in top tier academic journals including the Journal of Finance. He has received several grants, including a Veni grant from the Dutch National Science Foundation (NWO) and a Lamfalussy Fellowship from the ECB. Dr Bongaerts holds a PhD degree in Finance from the University of Amsterdam, an MSc in Econometrics from Maastricht University and has been a visiting scholar at Yale School of Management. Moreover, he has several years of professional experience as a risk management quant at ABN-AMRO bank.

  • D.G.J. Bongaerts (2010, juni 11). Overrated Credit Risk. UvA Prom./coprom.: Prof. Dr. J.J.A.G. Driessen & Prof. Dr. F.C.J.M. De Jong.
  • Role: Member Doctoral Committee
  • PhD Candidate: Ruben Cox
  • Time frame: 2009 - 2013
  • Role: Member Doctoral Committee
  • PhD Candidate: Dominik Rösch
  • Time frame: 2010 - 2015
  • Role: Member Doctoral Committee
  • PhD Candidate: Teng Wang
  • Time frame: 2011 - 2015
  • Role: Daily Supervisor
  • PhD Candidate: Darya Yuferova
  • Time frame: 2011 - 2016
  • Role: Daily Supervisor
  • PhD Candidate: Lingtian Kong
  • Time frame: 2012 -
  • Role: Daily Supervisor
  • PhD Candidate: Francesco Mazzola
  • Time frame: 2018 -
  • Role: Daily Supervisor
  • PhD Candidate: Xander Hut
  • Time frame: 2018 -
  • Role: Member Doctoral Committee
  • PhD Candidate: Rogier Hanselaar
  • Time frame: 2013 -

Organization Memberships (3)

Past
  • Boundaries of Financial Research (2017/2018, 2016/2017)
  • ERIM Research Clinic Finance (2016/2017)

The crisis of 2007-2008 has revealed a deep lack of understanding of the sources of fragility in the financial system. For example, regulation of the banking sector was tailored to prevent isolated bank failures, while ignoring the impact of such regulation on aggregate markets. Similarly, there was a severe lack of understanding of other, unregulated parties offering financial intermediation services, such as credit rating agencies, hedge funds, etc. Now several years after the crisis, new financial intermediaries arise that largely depend on information technology and big-data (Fintech). Understanding whether these parties engage in regulatory arbitrage or provide meaningful new or more efficient services than existing banks will be important for the future of this sector. The same holds for, understanding how existing banks may respond to such competitive threats.

In this project, which is an umbrella for several potential projects, a number of alternative research problems are collected that provide additional insight into the role of banks and other financial intermediaries in the economy at large. Projects can be of theoretical or empirical nature. Projects at the boundary of financial intermediation and asset pricing or financial intermediation and corporate finance are also possible and even encouraged. Empirical projects can draw on the wide range of databases that is available at Erasmus University, including data on international stock prices, bank balance sheets, institutional ownership, mutual fund and hedge fund performance. Key questions are identified and investigated using appropriate and, where necessary, innovative econometric and/or micro-economic techniques. The first year of the project will be used to get acquainted with potential supervisors and to identify concrete research topics. During the entire project, three or four papers will be written, potentially with different supervisors, which jointly constitute the PhD thesis.

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Risks and rewards play a pivotal role in theoretical and empirical research on financial markets. One of the fundamental concepts of asset pricing is that investors are rewarded for bearing risk, through higher expected returns, but that only particular, aggregate and non-diversifiable, sources of risk are priced by the market. However, the notion that security prices are always accurate (the “efficient markets hypothesis”) has been undermined by mounting evidence on incidences of mispricing, “behavioural finance”, and limits to arbitrage. This development has opened the door to idiosyncratic risk and variables related to mispricing being considered as potential determinants of expected returns. Establishing the determinants of asset prices and expected returns of securities in different asset classes remains a key challenge, and a very active area of research. Research on financial markets further considers trading on financial markets, the role of different types of (institutional) investors, the viability of different investment strategies, and also the broader role of financial markets in society.

In this project, which is an umbrella for several potential projects, a number of alternative research problems are collected that provide additional insight into the role of risk, information, and investor behaviour in financial markets. All projects are of an empirical nature and are exploring the wide range of databases that is available at Erasmus University, including data on international stock prices, institutional ownership, mutual fund and hedge fund performance. Key questions are identified and investigated using appropriate and, where necessary, innovative econometric techniques. The first year of the project will be used to get acquainted with potential supervisors and to identify concrete research topics. During the entire project, three or four papers will be written, potentially with different supervisors, which jointly constitute the PhD thesis.

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2015
March
25
Research Seminar
As: Speaker
2014
October
29
Research Seminar
As: Speaker
2014
August
25
Conference
As: Coordinator, Contact
2013
March
27
Research Seminar
As: Speaker
2012
July
05
Conference
As: Coordinator
2011
September
07
Research Seminar
As: Speaker
2011
June
30
Conference
As: Co-organizer
2011
March
16
2010
July
07
Conference
As: Coordinator
2010
May
12
2009
March
30
Research Seminar
As: Speaker

Address

Visiting address

Office: Mandeville Building T08-39
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands