prof.dr. M.J.C.M. (Marno) Verbeek

Full Professor
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Fellow ERIM
Field: Finance & Accounting
Affiliated since 2001

Marno Verbeek is a Professor of Finance at Rotterdam School of Management, Erasmus University (RSM). He was Dean of Research of RSM and Academic Director of the Erasmus Research Institute of Management (ERIM) from 1 July 2011 until 15 July 2017. 

His recent research is largely in the area of empirical finance with a particular focus on mutual funds, hedge funds, asset pricing, investment strategies, survival bias and performance evaluation.

He is the author of the textbook A Guide to Modern Econometrics (5th ed, 2017), and has published articles in international scholarly journals including the Journal of Financial and Quantitative Analysis, Management Science, the Review of Finance, the Journal of Banking and Finance, the Journal of Empirical Finance, Financial Management, the Journal of Financial Markets, the Journal of Business and Economic Statistics, Review of Economics and Statistics, the Journal of Econometrics and the International Economic Review.

He received his PhD from Tilburg University in 1991.

Key Publications (28)

  • M.J.C.M. Verbeek (2009). Modified Sharpe Ratio. In G.N. Gregoriou (Ed.), Encyclopedia of Alternative Investments (pp. 303-304). Boca Raton, FL: Chapman and Hall / CRC
  • M.J.C.M. Verbeek (2009). Alternative Asset Class. In G.N. Gregoriou (Ed.), Encyclopedia of Alternative Investments (pp. 16-16). Boca Raton, FL: Chapman and Hall / CRC
  • M.J.C.M. Verbeek (2009). Nondirectional. In G.N. Gregoriou (Ed.), Encyclopedia of Alternative Investments (pp. 319-319). Boca Raton, FL: Chapman and Hall / CRC
  • M.J.C.M. Verbeek (2009). Redemption Period. In G.N. Gregoriou (Ed.), Encyclopedia of Alternative Investments (pp. 392-392). Boca Raton, FL: Chapman and Hall / CRC
  • M.J.C.M. Verbeek (2008). Pseudo Panels and Repeated Cross-Sections. In L. Matyas & P. Sevestre (Eds.), The Econometrics of Panel Data: Fundamentals and Recent Developments in Theory and Practice (pp. 369-383). Berlin: Springer Verlag
  • B. Honoré, F. Vella & M.J.C.M. Verbeek (2008). Attrition, Selection Bias and Censored Regressions. In L. Matyas & P. Sevestre (Eds.), The Econometrics of Panel Data: Fundamentals and Recent Developments in Theory and Practice (pp. 385-418). Berlin: Springer
  • E. Genc & M.J.C.M. Verbeek (2018). How independent research can improve investment decisions. RSM Discovery - Management Knowledge, 33 (1), 14-16.
  • A. De Jong, P.G.J. Roosenboom, M.J.C.M. Verbeek & P. Verwijmeren (2007). Hedgefondsen en private equity in Nederland. (Extern rapport). Den Haag: Ministerie van Financien
  • W.A. Marquering & M.J.C.M. Verbeek (2004). De Wet van Murphy in de Aandelenmarkt. VBA Journaal, 19 (4), 24-29.
  • Role: Member Doctoral Committee
  • PhD Candidate: Milan Lovric
  • Time frame: 2005 - 2011
  • Role: Promotor
  • PhD Candidate: Xiaohong Huang
  • Time frame: 2005 - 2010
  • Role: Promotor
  • PhD Candidate: Patrick Verwijmeren
  • Time frame: 2005 - 2008
  • Role: Promotor
  • PhD Candidate: Diana Budiono
  • Time frame: 2005 - 2010
  • Role: Member Doctoral Committee
  • PhD Candidate: Maarten Jennen
  • Time frame: 2004 - 2008
  • Role: Member Doctoral Committee
  • PhD Candidate: Thuy Nguyen
  • Time frame: 2005 - 2008
  • Role: Promotor
  • PhD Candidate: Melissa Porras Prado
  • Time frame: 2006 - 2012
  • Role: Member Doctoral Committee
  • PhD Candidate: Nadja Günster
  • Time frame: 2003 - 2009
  • Role: Member Doctoral Committee
  • PhD Candidate: Haikun Ning
  • Time frame: 2003 - 2007
  • Role: Member Doctoral Committee
  • PhD Candidate: Willem Schramade
  • Time frame: 2002 - 2006
  • Role: Member Doctoral Committee
  • PhD Candidate: Lenny Pattikawa
  • Time frame: 2002 - 2007
  • Role: Promotor
  • PhD Candidate: Joop Huij
  • Time frame: 2002 - 2007
  • Role: Promotor
  • PhD Candidate: Guillermo Baquero
  • Time frame: 2001 - 2006
  • Role: Promotor
  • PhD Candidate: Erik Kole
  • Time frame: 2001 - 2006
  • Role: Member Doctoral Committee
  • PhD Candidate: Ben Tims
  • Time frame: 1999 - 2006
  • Role: Promotor
  • PhD Candidate: Ying Xu
  • Time frame: 2006 - 2010
  • Role: Promotor
  • PhD Candidate: Yu Wang
  • Time frame: 2008 - 2011
  • Role: Member Doctoral Committee
  • PhD Candidate: Dimitrios Vagias
  • Time frame: 2008 - 2013
  • Role: Member Doctoral Committee, Promotor
  • PhD Candidate: Dominik Rösch
  • Time frame: 2010 - 2015
  • Role: Member Doctoral Committee
  • PhD Candidate: Teng Wang
  • Time frame: 2011 - 2015
  • Role: Member Doctoral Committee, Promotor
  • PhD Candidate: Darya Yuferova
  • Time frame: 2011 - 2016
  • Role: Promotor, Daily Supervisor
  • PhD Candidate: Marina Dzhelepska
  • Time frame: 2012 -
  • Role: Promotor
  • PhD Candidate: Lingtian Kong
  • Time frame: 2012 -
  • Role: Promotor
  • PhD Candidate: Gelly Fu
  • Time frame: 2016 -
  • Role: Promotor
  • PhD Candidate: Lennard Böckenförde
  • Time frame: 2018 -
  • Role: Promotor
  • PhD Candidate: Xander Hut
  • Time frame: 2018 -

Editorial positions

  • De Economist

    Associate Editor

Side positions

  • Netspar

    Research Coordinator


Past
  • Panel Data Econometrics: Theory and Practice (2017/2018)
  • Publishing Strategy (2017/2018, 2016/2017)
  • Seminar Asset Pricing 1 (2016/2017)
  • Seminar Asset Pricing 2 (2016/2017)

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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2016
June
13
2013
June
06
2012
July
05
Conference
As: Coordinator
2011
June
30
Conference
As: Co-organizer
2011
May
12
2010
July
07
Conference
As: Coordinator
2010
March
19
2009
June
26
Conference
As: Coordinator
2009
March
20
2008
June
27
Conference
As: Speaker
2008
March
14
2007
November
22
Research Workshop
As: Speaker, Coordinator
2007
March
09
2006
October
24
Research Workshop
As: Speaker, Coordinator

Address

Visiting address

Office: Mandeville Building T08-23
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands