Research

Currently the main research focus of the department of finance is empirical research on capital markets. We are primarily interested in asset management topics such as behaviour of private as well as institutional investors, trading strategies and performance of investment funds. A further emphasis of our research lies within risk management and especially within the analysis of liquidity of capital markets.

Closer insights to our current and past research activities are provided by our working papers as well as our publications, some of which having been released in the best international journals:

Publications in top journals	Quality
Cici, G.; Kempf, A.; Peitzmeier, C. Knowledge Spillovers in the Mutual Fund Industry through Labor Mobility in: Journal of Banking and Finance, forthcoming.	A

Cici, G.; Hendriock, M.; Kempf, A. The Investment Value of Fund Managers’ Experience Outside the Financial Sector in: Journal of Banking and Finance, Vol. 122 (2021).	A
Cici, G.; Gehde-Trapp, M.; Göricke, M.-A.; Kempf, A. The Investment Value of Fund Managers’ Experience Outside the Financial Sector in: Review of Financial Studies, Vol. 31 (2018), pp. 3821-3853.	A+
Cici, G.; Dahm, L.; Kempf, A. Trading Efficiency of Fund Families: Impact on Fund Performance and Investment Behavior in: Journal of Banking and Finance, Vol. 88 (2018), pp. 1-14.	A
Kempf, A.; Bethke, S.; Gehde-Trapp, M. Investor Sentiment, Flight-to-Quality, and Corporate Bond Comovement in: Journal of Banking and Finance, Vol. 82 (2017), pp. 112-132.	A
Cici, G.; Kempf, A.; Sorhage, C. Do Financial Advisors Provide Tangible Benefits for Investors? Evidence from Tax-Motivated Mutual Fund Flows in: Review of Finance, Vol. 21, pp. 637-665.	A
Cici, G.; Kempf, A.; Pütz, A. The Valuation of Hedge Funds' Equity Positions in: Journal of Financial and Quantitative Analysis, Vol. 51 (2016), pp. 1013-1037.	A
Kempf, A.; Korn, O.; Saßnig, S. Portfolio Optimization Using Forward-Looking Information in: Review of Finance, Vol. 19 (2015), pp.467-490.	A
Betzer, A.; Gider, J.; Metzger, D.; Theissen, E. Strategic Trading and Trade Reporting by Corporate Insiders in: Review of Finance, Vol. 19 (2015), pp. 865–905.	A
Fang, J.; Kempf, A.; Trapp, M. Fund Manager Allocation in: Journal of Financial Economics, Vol. 111 (2014), pp.661-674.	A+
Kempf, A.; Chesney, M. The Value of Tradeability in: Review of Derivatives Research, Vol. 15 (2012), pp.193-216.	A
Kempf, A.; Korn, O.; Uhrig-Homburg, M. The Term Structure of Illiquidty Premia in: Journal of Banking and Finance, Vol. 36 (2012), pp. 1381-1391.	A
Bär, M.; Kempf, A.; Ruenzi, S. Is a Team Different from the Sum of its Parts? Evidence from Mutual Fund Managers in: Review of Finance, Vol. 15 (2011), pp.359-396.	A
Kempf, A.; Thiele, T.; Ruenzi, S. Employment Risk, Compensation Incentives and Managerial Risk Taking in: Journal of Financial Economcis, Vol. 92 (2009), pp.92-108.	A+
Kempf, A.; Ruenzi, S. Tournaments in Mutual Fund Families in: Review of Financial Studies, Vol. 21 (2008), pp.1013-1036.	A+

The Rankings are based on the VHB-JOURQUAL ranking. Further information can be found here.

UNIVERSITY OF COLOGNE

Faculty of Management, Economics and Social SciencesDepartment of Business Administration and Finance Prof. Dr. A. Kempf

Research