Prof. Dr. Alexander Kempf
Department of Business Administration and Finance
Main research
- Asset Management
- Risk Management
- Asset Liquidity
- Empirical Finance
Curriculum vitae
| 2015 - 2016 | Spokesman of the Key Research Profile Area "Value and Risk" at the University of Cologne |
| since 2006 | Member of the North Rhine-Westphalian Academy of Sciences, Humanities, and the Arts |
| 2006 - 2008 | Member of the Executive Board of the European Finance Association (EFA) |
| 2006 - 2007 | Spokesman of the Commission „Banken/Finanzierung” of the German Academic Association for Business Research |
| since 2004 | Managing Director of the Centre for Financial Research (CFR) |
| 2002 - 2011 | Spokesman of the DFG-Graduate School "Theoretische und empirische Grundlagen des Risikomanagements" |
| 2002 - 2006 | Editor of the journal "Die Betriebswirtschaft" |
| since 1999 | Professor of Business Administration at the University of Cologne and Director of the Department of Business Administration and Finance at the University of Cologne |
| 1999 | Temporary Chair Holder at the Department of Business Administration, particular Finance and Capital Market Theory at European University Viadrina in Frankfurt (Oder) |
| 1999 | Postdoctoral lecture qualification: "Wertpapierliquidität und Wertpapierpreise" at the University of Mannheim, Venia legendi in Business Administration |
| 1995 | Conferral of the doctorate rer. pol.: "Zum Preiszusammenhang zwischen Kassa- und Futuresmärkten. Der Einfluss der Glattstellungsoption" at the University of Mannheim (Supervisor: Prof. Dr. Dr. h.c. Wolfgang Bühler) |
| 1982 - 1989 | Study of Economics at the University of Bayreuth, Hagen and Mannheim |
Academic publications
2025
- Finding your calling: Matching skills with jobs in the mutual fund industry
in: Management Science, Vol. 71 (2025), S. 9936-9954 (with G. Cici, M. Hendriock)
2022
- Knowledge Spillovers in the Mutual Fund Industry through Labor Mobility
in: Journal of Banking and Finance, Vol. 134 (2022) (with G. Cici, C. Peitzmeier)
2021
- #MeToo Meets the Mutual Fund Industry: Productivity Effects of Sexual Harassment
in: Finance Research Letters, Vol. 40 (2021) (with G. Cici, M. Hendriock and S. Jaspersen) - The Impact of Labor Mobility Restrictions on Managerial Actions: Evidence from the Mutual Fund Industry
in: Journal of Banking and Finance, Vol. 122 (2021) (with G. Cici, M. Hendriock)
2018
- The Investment Value of Mutual Fund Managers’ Experience outside the Financial Sector
in: Review of Financial Studies, Vol. 31 (2018), S. 3821-3853 (with G. Cici, M. Gehde-Trapp and M.-A. Göricke) - Trading Efficiency of Fund Families: Impact on Fund Performance and Investment Behavior
in: Journal of Banking and Finance, Vol. 88 (2018), S. 1-14 (with G. Cici, L. Dahm)
2017
- Investor Sentiment, Flight-to-Quality, and Corporate Bond Comovement
in: Journal of Banking and Finance, Vol. 82 (2017), S. 112-132 (with S. Bethke and M. Gehde-Trapp) - Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flows
in: Review of Finance, Vol. 21 (2017), S. 637-665 (with G. Cici, C. Sorhage) - Speed of Information Diffusion within Fund Families
in: Review of Asset Pricing Studies, Vol. 7 (2017), S. 144-170 (with G. Cici, S. Jaspersen)
2016
- The Valuation of Hedge Funds' Equity Positions
in: Journal of Financial and Quantitative Analysis, Vol. 51 (2016), S. 1013-1037 (with G. Cici, A. Pütz)
2015
- Portfolio Optimization Using Forward-Looking Information
in: Review of Finance, Vol. 19 (2015), S. 467-490 (with O. Korn, S. Saßnig)
2014
- Low Risk and High Return: Affective Attitudes and Stock Market Expectations
in: European Financial Management, Vol. 20 (2014), S. 995-1030 (with A. Niessen-Ruenzi, C. Merkle) - Fund Manager Allocation
in: Journal of Financial Economics, Vol. 111 (2014), S. 661-674 (with J. Fang, M. Trapp)
2012
- The Value of Tradeability
in: Review of Derivatives Research, Vol. 15 (2012), S. 193-216 (with M. Chesney) - Determinants of Expected Stock Returns: Large Sample Evidence from the German Market
in: Journal of Business Finance and Accounting, Vol. 39 (2012), S. 758-784 (with S. Artmann, P. Finter)
ausgezeichnet mit dem Acatis Value Award 2010 (2. Platz)
- The Term Structure of Illiquidty Premia
in: Journal of Banking and Finance, Vol. 36 (2012), S. 1381-1391 (with O. Korn, M. Uhrig-Homburg)
- The Cross-Section of German Stock Returns: New Data and New Evidence
in: Schmalenbach Business Review, Vol. 64 (2012), S. 20-43 (with S. Artmann, P. Finter, S. Koch, E. Theissen)
Vol. 64 (2012), S. 40-43
- Vergütung von Managern deutscher Aktienfonds: Höhe, Struktur, Determinanten und Anreizwirkungen
in: Zeitschrift für Betriebswirtschaft, Vol. 82 (2012), S. 5-28 (with K. Drachter)
2011
- Is a Team Different from the Sum of its Parts? Evidence from Mutual Fund Managers
in: Review of Finance, Vol. 15 (2011), S. 359-396 (with M. Bär, S. Ruenzi)
- Fundamental Information in Technical Strategies
in: Journal of Business Finance and Accounting, Vol. 38 (7) & (8), S. 842-860 (with U. Bonenkamp, C. Homburg), Vol. 15 (2011), S. 359-396.
2010
- CAPM und erwartete Renditen: Eine Untersuchung auf Basis der Erwartung von Marktteilnehmern
in: Die Betriebswirtschaft, Vol. 70 (2010), S. 145-164 (with M. Hagemeister)
2009
- Employment Risk, Compensation Incentives and Managerial Risk Taking
in: Journal of Financial Economics, Vol. 92 (2009), S. 92-108 (with T. Thiele, S. Ruenzi)
2008
- Tournaments in Mutual Fund Families
in: Review of Financial Studies, Vol. 21 (2008), S. 1013-1036 (with S. Ruenzi)
- Family Matters: Rankings Within Fund Families and Fund Inflows
in: Journal of Business Finance and Accounting, Vol. 35 (2008), S. 177-199 (with S. Ruenzi)
- Liquidity Commonality beyond Best Prices
in: Journal of Financial Research, Vol. 31 (2008), S. 25-40 (with D. Mayston)
- SRI Funds: Nomen est Omen
in: Journal of Business Finance and Accounting, Vol. 35 (2008), S. 1276-1294 (with P. Osthoff)
2007
- Decision Processes in German Mutual Fund Companies: Evidence from a Telephone Survey
in: International Journal of Managerial Finance, Vol. 3 (2007), S. 49-69 (with K. Drachter, M. Wagner)
- Determinanten der Mittelzuflüsse bei deutschen Aktienfonds
(Determinants of Net Inflows of German Equity Mutual Funds)
in: Zeitschrift für betriebswirtschaftliche Forschung, 59. Jhrg. (2007), S. 35-60 (with S. Ber, S. Ruenzi)
- The Effect of Socially Responsible Investing on Portfolio Performance
in: European Financial Management, Vol. 13 (2007), S. 908-922 (with P. Osthoff)
2006
- Status Quo Bias and the Number of Alternatives: An Empirical Illustration from the Mutual Fund Industry
in: Journal of Behavioral Finance, 2006, Vol. 7 (2006), S. 204-213 (with S. Ruenzi)
- On the Estimation of the Global Minimum Variance Portfolio
in: Schmalenbach Business Review, Vol. 58 (2006), S. 332-348 (with C. Memmel)
- Liquiditätsdynamik am deutschen Aktienmarkt
in: Die Betriebswirtschaft, 66. Jhrg. (2006), S. 402-417 (with K. Griese)
- Systematische Liquidität am deutschen Aktienmarkt
in: Bessler, Wolfgang (Hrsg.), Börsen, Banken und Kapitalmärkte. Festschrift für Hartmut Schmidt zum 65. Geburtstag. (with D. Mayston)
2003
- Parameterschätzungen in der Portfoliotheorie: Ein analytischer und simulationsgestützter Vergleich
in: Die Betriebswirtschaft, 63. Jhrg. (2003), S. 516-531 (with C. Memmel)
- Lohnt aktives Fondsmanagement aus Anlegersicht? Ein Vergleich von Anlagestrategien in aktiv und passiv verwalteten Aktienfonds
in: Zeitschrift für Betriebswirtschaft, 73. Jhrg. (2003), H. 2, S. 201-224 (with K. Griese)
2000
- Liquidity and its Impact on Bond Prices
in: Schmalenbach Business Review, Vol. 52 (2000), S. 26-44 (with M. Uhrig-Homburg)
1999
- Preisprognosen mit Handelsvolumen
in: Finanzmarkt und Portfoliomanagement, 13. Jhrg. (1999), S. 178-193 (with O. Korn)
- Market Depth and Order Size
in: Journal of Financial Markets, Vol. 2 (1999), S. 29-48 (with O. Korn)
- Wertpapierliquidität und Wertpapierpreise
in: Beiträge zur betriebswirtschaftlichen Forschung, Band 91, Gabler Verlag, Wiesbaden (1999)
1998
- Short Selling, Unwinding, and Mispricing
in: The Journal of Futures Markets, Vol. 18 (1998), S. 903-923
- Trading System and Market Integration
in: Journal of Financial Intermediation, Vol. 7 (1998), S. 220-239 (with O. Korn)
- Was messen Liquiditätsmaße?
in: Die Betriebswirtschaft, 58. Jhrg. (1998), S. 299-311
- Optionsbewertung bei endogenem Preis des Basisinstruments: Der Fall der Glattstellungsoption
in: Zeitschrift für betriebswirtschaftliche Forschung, 50. Jhrg. (1998), S. 411-435 (with W. Bühler)
- Umsatz und Geld-Brief-Spanne
in: Zeitschrift für Bankrecht und Bankwirtschaft, 10. Jhrg. (1998), S. 100-108
1997
- Die Auswirkung dynamischer Arbitragestrategien auf den Preiszusammenhang zwischen Kassa- und Futuresmarkt
in: Zeitschrift für betriebswirtschaftliche Forschung, 49. Jhrg. (1997), S. 617-644
1996
- Preisführerschaft und imperfekte Arbitrage
in: Zeitschrift für Betriebswirtschaft, 66. Jhrg. (1996), S. 837-859 (with O. Korn)
1995
- DAX Index Futures: Mispricing and Arbitrage in German Markets
in: The Journal of Futures Markets, Vol. 15 (1995), S. 833-859 (with W. Bühler)
1993
- Der DAX-Future: Kursverhalten und Arbitragemöglichkeiten
in: Kredit und Kapital, 26. Jhrg. (1993), S. 533-574 (with W. Bühler)