prof.dr. W.B. (Wolf) Wagner

Full Professor
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
Fellow ERIM
Field: Finance & Accounting
Affiliated since 2015

Wolf Wagner is a Professor of Finance at the Rotterdam School of Management and a fellow of CEPR. He is also a member of ERIM, EBC and a Senior Member of TILEC. His work has been published in various academic journals, such as the Journal of Finance, the Review of Finance, Management Science, the Journal of Money, Credit, and Banking, the Journal of International Economics and the Journal of Financial Intermediation.

Wolf Wagner's work focuses on banking and financial markets. Key themes in his research are the wider implications of financial innovation for the efficiency and stability of the financial system, as well as the role of diversity in creating a more resilient economy. Recent interests include the impact of systemic liquidation risk on asset prices, macroprudential policies, and the joint banking and sovereign debt crisis in the Eurozone.

See Wolf Wagner's personal sites for more information.

  • F. Allen, T.H.L. Beck, E. Carletti, P. Lane, D. Schoenmaker & W.B. Wagner (2011). Cross-Border Banking in Europe. Londen: CEPR
  • S.C.W. Eijffinger & W.B. Wagner (2002). Taxation if Capital is Not Perfectly Mobile. St. Louis: Economic Policy Research Unit (EPRU)
  • S.C.W. Eijffinger & W.B. Wagner (2001). The Feasible Gains from International Risk Sharing. St. Louis: CEPR
  • W.B. Wagner (2014). Unintended consequences of macroprudential policies. In Macroprudentialism (pp. 105-113). London: CEPR Press
  • W.B. Wagner (2002, juni 14). Risk sharing under incentive constraints. Tilburg University (Tilburg) Prom./coprom.: Prof.Dr. S.C.W. Eijffinger.
  • Role: Member Doctoral Committee
  • PhD Candidate: Eden Quxian Zhang
  • Time frame: 2012 - 2018

Editorial positions (3)

  • Journal of International Money and Finance

    Associate Editor

  • Economic Policy

    Associate Editor

  • Journal of Financial Stability

    Associate Editor

During the past decade-plus, capital market crashes and financial scandals around the world have harshly shown the importance of corporate financial transparency. Companies that fail to clearly communicate with investors on their investments, financial position, and financial performance likely face increased difficulty accessing external financing or an increased cost of financing. Companies that do not report transparently internally may stimulate managers to behave opportunistically by managing earnings and acting myopically. Accounting is the research discipline that examines the role of accounting information in companies´ communications, both externally and internally. Outside providers of financing such as banks and equity investors, as well as top and middle managers, use accounting information for decision making and control purposes. The objective of this Ph.D. project is to identify and analyze innovative research questions in the area of accounting. The expectation is that these questions will be examined using archival (quantitative, database-based) and/or experimental research methods. The structure of this Ph.D project will be as follows. During the first year, the Ph.D student will receive high-quality training in accounting (and finance) research as well as (applied) econometric methods. At the end of the first year, the student will have developed a first proposal for three empirical studies, having much independence in selecting a research focus. During the following three years, these studies will be carried out and gradually developed into three working papers that are potentially publishable in high-quality academic journals. Especially during the early stages of the project, the Ph.D. student will intensively cooperate with the members of the supervisory team.

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Risks and rewards play a pivotal role in theoretical and empirical research in 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. Establishing risk factors and identifying to what extent they are priced is a key challenge, and a very active area of research.

 

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
March
23

Address

Visiting address

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

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands