Denis Schweizer, PhD
Doctorate (European Business School)
Professor Dr. Denis Schweizer studied business administration at Johann Wolfgang Goethe-University in Frankfurt/Main. In April 2008 he completed a doctorate at European Business School (EBS) in Oestrich-Winkel with a thesis entitled “Selected Essays on Alternative Investments.” During his doctorate, he worked as research assistant at the PFI Private Finance Institute/ EBS Finance Academy in Oestrich-Winkel and was responsible for the conception of executive education programs. Furthermore, he gained teaching experience as he regularly held trainings in executive education. During this time he was awarded the titles of Financial Risk Manager (FRM) and Certified Financial Planner (CFP). In August 2008 he was appointed Assistant Professor of Alternative Investments at WHU – Otto Beisheim School of Management. From September 2011 until January 2012, he was a visiting scholar at New York University, USA. In August 2014 he was appointed as Associate Professor at Concordia University John Molson School of Business and was promoted to Full Professor in 2020 and is a Research Fellow at the Zeppelin University (Friedrichshafen, Germany).
He held the Manulife Professorship in Financial Planning from 2015 to 2021. From June 2016 to June 2019, he was appointed as director of the Van Berkom Small-Cap Investment Management Program (VBIMP). During his tenure, the $1m investment fund (invested in a North American small-cap stock portfolio) outperformed its benchmark by ~40% (simple alpha based on invested capital) for the 2017-2018 period. He held the Manulife Professorship in Financial Planning from 2015 to 2021.
Since 2011, he has published numerous articles in leading journals, such as Strategic Management Journal, Journal of Corporate Finance, Journal of Banking and Finance, Entrepreneurship Theory and Practice, and Journal of Business Ethics, among others. He is an Associate Editor of Finance Research Letters, an editorial review board member of Small Business Economics and of Entrepreneurship Theory and Practice, and has been a guest editor for numerous special issues (e.g., for Journal of Corporate Finance) as well. His research outputs have received a number of academic best paper and recognition awards, such as the 2021 Helena Yli-Renko Research Impact Award for the highest citations in the five years following publication, sponsored by the Lloyd Greif Center for Entrepreneurial Studies at the USC Marshall School of Business, and the Australian Private Equity & Venture Capital Association Research Price. His innovative research ideas received multiple competitive research grants from e.g. the Social Sciences and Humanities Research Council (SSHRC) and the Education of Good Governance Fund of Autorité des Marchés Financiers of about $1,000,000. Denis Schweizer is teaching at all university levels including BSc, MSc, MBA, and PhD-level as well as in executive education programs. His teaching excellence was recognized with four WHU – Otto Beisheim School of Management best teacher awards.
Areas of expertise
- Alternative Investments
- Chinese Capital Markets
- Corporate Finance
- Entrepreneurial Finance
- Hedge Funds
- Insider Trading
- Initial Coin Offerings
- Rare Earth Material
- Real Estate
- Risk Management
- Venture Capital
Most Important External Research Grants
CAD 52,085 Social Sciences and Humanities Research Council (SSHRC) of Canada, Insight Development Grant on “Real Estate Crowdfunding - Risk and Debt Financing” (principal investigator with Tingyu Zhou, 2016-2018)
CAD 148,500 Education and Good Governance Fund of Autoritédes Marchés Financiers on “Corporate Fraud and Illegal Insider Trading” (principal investigator with Juliane Proelss and Thomas Walker, 2016-2019)
CAD 196,225 Social Sciences and Humanities Research Council (SSHRC) of Canada, Insight Grant on „Equity Crowdfunding” (principal investigator with Douglas Cumming, 2015-2021)
Entrepreneurship Theory and Practice
- Small Business Economics
Finance Research Letters
Banking and Finance Review
Van Berkom Investment Management Program
The Van Berkom Investment Management Program (VBIMP) provides a small group of select JMSB graduate students with an experience to actively manage a portfolio of small capitalized stocks in North American with the aim to achieve returns that exceed their benchmark. During my tenure as Program Director, the investment fund of $1m outperformed its benchmark by ~40% (simple alpha based on invested capital (ROIC)) in the 2017-2018 period. For details, please see the 2017-2018 annual report.
 [NEW Version July 2019] Do Privately Owned Enterprises in China Need Political Connections to Issue Corporate Bonds?
Denis Schweizer (Concordia University); Thomas Walker (Concordia University); Aoran Zhang (Concordia University)
Presentation October 2017
 Buy and Build Strategies in Private Equity: Boost or Transformation
Benjamin Hammer (HHL - Leipzig Graduate School of Management); Heiko Hinrichs (HHL - Leipzig Graduate School of Management); Denis Schweizer (Concordia University)
Presentation October 2017
Refereed journal articles
 [NEW] Disentangling Crowdfunding from Fraudfunding
Cumming, D./Hornuf, L./Karami, M./Schweizer, D., Journal of Business Ethics, Forthcoming
 [NEW] Corporate Failures: Declines, Collapses, and Scandals
Cole, R./Johan, S./Schweizer, D., Journal of Corporate Finance, Forthcoming.
 [NEW] What Is Different About Private Equity-backed Acquirers?
Hammer, B./Hinrichs, H./Schweizer, D., Review of Financial Economics, Forthcoming.
 [NEW] False Hopes and Blind Beliefs: How Political Connections Affect China's Corporate Bond Market
Schweizer, D./Walker, T./Zhang, A., Journal of Banking and Finance, Forthcoming.
 [NEW] The More the Merrier? Diversity and Private Equity Performance
Hammer, B./Pettkus, S./Schweizer, D./Wünsche, N., British Journal of Management, Forthcoming.
 [NEW] Good News for Rivals – Are Rivals Fully Seizing Transition-Period Opportunities Following Announcers’ Top Management Turnovers?
Burchard, C./Proelss, J./Schäffer, U./Schweizer, D., Strategic Management Journal, 2021, Vol. 42, 579-607.
 [NEW] The Economics of Philanthropy—Evidence from Health Crowdfunding
Proelss, J./Schweizer, D./Zhou, T., Small Business Economics, Forthcoming.
 [NEW] Similarity Perceptions in Investor Reactions to Acquisition Announcements
Högl, M./Fröhlich, J./Kleindienst, I./Laamanen, T./Schweizer, D., Long Range Planning, Forthcoming.
 [NEW] China: From Imitator to Innovator?
Proelss, P./Schweizer, D./ Zahn, F., Emerging Markets Review, Forthcoming.
Proelss, J./ Schweizer, D./ Seiler, V., International Review of Financial Analysis, Forthcoming
Proelss, J./ Schweizer, D./ Seiler, V., Energy Economics, 2018, Vol. 73, 1-23.
 Cross-Border Acquisitions By Chinese Enterprises: The Benefits andDisadvantages of Political Connections
Schweizer, D./ Walker, T./ Zhang, A., Journal of Corporate Finance, 2019, Vol 57, 3-85.
 Information Systems, Agency Problems, and Fraud
Cumming, D./ Johan, S./ Schweizer, D., Information Systems Frontier, 2017, Vol. 19, 421-424.
 Ambiguity in Option Markets - Evidence from SEOs
Cumming, D./ Johannnig, L./ Ordu, U./ Schweizer, D., Journal of Financial Management, Markets and Institutions, 2017, Vol. 5, 67-92.
 Do Principles Pay in Real Estate Crowdfunding?
Schweizer, D./ Zhou, T., Journal of Portfolio Management, 2017, Vol. 43,120-137.
 Hidden Champions or Black Sheep? The Role of Underpricingin the German Mini-Bond Market
Mietzner, M./ Proelss, P./Schweizer, D., Small Business Economics, 2018, Vol. 50, 375-395.
 Is the Crowd Sensitive to Distance? – Differences in Investment Decisions of Retail and Institutional Investors
Günther, C./Johan, S./Schweizer, D., Small Business Economics, 2018, Vol. 50,289-305.
 Corporate Finance and the Governance Implications of Removing Government Support Programs
Jacob, M./Johan, S./Schweizer, D./Zhan, F., Journal of Banking and Finance, 2016, Vol. 63, 35-47.
 The Role of Sovereign Wealth Funds as Activist or Passive Fund Managers
Mietzner, M./Schiereck, D./Schweizer, D., Journal of Asset Management, 2015, Vol. 16, 303-315.
 Executive Compensation and Informed Trading in Acquiring Firms around Merger Announcements
Ordu, U./Schweizer, D., Journal of Banking and Finance, 2015, Vol. 55, 260-280.
 Wealth Effects of Rare Earth Prices and China's Rare Earth Elements Policy
Müller, M./Schweizer, D./Seiler, V., Journal of Business Ethics, 2016, Vol. 138, 627-648.
 Signaling in Equity Crowdfunding
Ahlers, G.K.C./Cumming, D./Günther, C./Schweizer, D., Entrepreneurship Theory and Practice, 2015, Vol. 39, 955-980.
- Australian Private Equity & Venture Capital Association Research Price Winner for 2013-2014
 The Fast Track IPO – Success Factors for Taking Firms Public with SPACs
Cumming, D./Haß, L.H./Schweizer, D., Journal of Banking and Finance, 2014, Vol. 47, 198-213.
 Are Informed Traders Sensitive to the Regulatory Environment?
Ordu, U./Schweizer, D., European Journal of Finance, 2017, Vol. 23,707-726
 Top Management Turnover under the Influence of Active Investors
Schäffer, U./Schweizer, D./Voußem, B.A., Journal of Management and Governance, 2015, Vol. 19, 709-739.
 The Impact of Fund Inflows on Staging and Investment Behavior
Haß, L.H./Lauterbach, R./Schweizer, D., International Small Business Journal, 2014, Vol. 32, 644-666.
 Do Markets Anticipate Capital Structure Decisions? – Feedback Effects in Equity Liquidity
Andres, C./Cumming, D./ Karabiber, T./ Schweizer, D., Journal of Corporate Finance, 2014, Vol. 27, 133-156.
 Is Corporate Governance in China Related to Performance Persistence?
Haß, L.H./Johan, S./Schweizer, D., Journal of Business Ethics, 2016, Vol. 63, 35-47.
 Strategic Asset Allocation and the Role of Alternative Investments
Cumming, D./Haß, L.H./Schweizer, D., European Financial Management, 2014, Vol. 20, 521-547.
- Reprinted as Cumming,D./Haß, L. H./Schweizer, D. (2013) “Role of Alternative Investments in Strategic Asset Allocation” Alternative Investments: Instruments, Performance, Benchmarks, and Strategies edited by H. K. Baker and G. Filbeck
 What Drives Contagion in Financial Markets? Liquidity Effects versus Impending Impairment of Fundamental Value
Haß, L.H./Koziol, C./Schweizer, D., European Financial Management, 2014, Vol. 20, 548-573.
 The Changing Latitude: Labour-sponsored Venture Capital Corporations in Canada
Johan, S./Schweizer, D./Zhan, F., Corporate Governance an International Review, 2014, Vol. 22, 145-161.
 Polynomial Goal Programming and the Implicit Higher Moment Preferences of Institutional Investors in Hedge Funds
Proelss, J./Schweizer, D., Financial Markets and Portfolio Management,2014, Vol. 28, 1-28.
 Hedge Funds versus Private Equity Funds as Shareholder Activists –Differences in Value Creation
Mietzner, M./Schweizer, D., Journal of Economics and Finance, 2014, Vol.38, 181-208.
- Campus for Finance 2nd Best Paper Award
 Sudden Top Management Turnovers and their Effects on Capital Markets:Evidence from a Country with ow Managerial Discretion
Voußem, B.A./Burchard, C.H./Schäffer, U./Schweizer, D., Zeitschrift für Betriebswirtschaft (Journal of Business Economics), 2013, Vol. 2, 149-184.
 Private Equity Benchmarks and Portfolio Optimization
Cumming, D./Haß, L.H./Schweizer, D., Journal of Banking and Finance, 2013, Vol. 37, 3515-3528.
 Do Alternative Real Estate Vehicles Add Value to REITs? Evidence from German Open-ended Property Funds
Haß, L.H./Johanning, L./Rudolph, B./Schweizer, D., Journal of Real Estate Finance and Economics, 2013, Vol. 47, 65-82.
 Are Private Equity Investors Boon or Bane for an Economy? – A Theoretical Analysis
Ernst, S./Koziol, C./Schweizer, D., European Financial Management, 2013, Vol. 19, 180-207.
- European Financial Management – Readers’ Choice Best Paper Award 2013
 Regulatory Induced Performance Persistence: Evidence from Hedge Funds
Cumming, D./Dai, N./Haß, L.H./Schweizer, D., Journal of Corporate Finance, 2012, Vol. 18, 1005-1022.
 Efficient Hedge Fund Strategy Allocations – A Systematic Framework for Investors that Incorporates Higher Moments
Kaiser, D. G./Schweizer, D./Wu, L., Financial Markets, Institutions and Instruments, 2012, Vol. 21, 241-260.
 Short- and Long-Term Interactions between Venture Capital Returns and the Macroeconomy: Evidence from the United States
Füss, R./Schweizer, D., Review of Quantitative Finance and Accounting, 2012, Vol. 38, 391-410.
 Open-ended Property Funds: Risk and Return Profile - Diversification Benefits and Liquidity Risks
Haß, L.H./Johanning, L./Rudolph, B./Schweizer, D., International Review of Financial Analysis, 2012, Vol. 21, 90-107.
 Are Portfolio Holdings Affected by Parameter Uncertainty and Ambiguity?
Proelss, J./Schweizer, D., IEB International Journal of Finance, 2011,Vol. 3, 2-37.
 Creeping-in als neues Instrument des Erwerbs von Unternehmenskontrollrechten – Taktische Meisterleistung oder unkalkulierbares Risiko?
Koziol, C./Noël, P./Schweizer, D., Zeitschrift für Betriebswirtschaft (Journalof Business Economics), 2011, Vol. 81, 833-854.
 Do Institutional Investors Care the Ambiguity of Their Assets? – Evidence From Portfolio Holdings in Alternative Investments
Koziol, C./Proelss, J./Schweizer, D., International Journal of Theoretical and Applied Finance, 2011, Vol. 14, 465-484.
 Intra-Industry Effects of Shareholder Activism in Germany – Is There a Difference between Hedge Fund and Private Equity Investments?
Mietzner, M./Schweizer, D./Tyrell, M., Schmalenbach Business Review, 2011, Vol. 63, 151-185.
- Academy of Economics and Finance Best Paper Award
 Systematische Unterschiede hinsichtlich der Risikoneigungzwischen europäischen und US-amerikanischen Wagniskapitalfinanzierungsgesellschaften
Kaiser, D.G./ Lauterbach, R./Schweizer, D., Finanzbetrieb, 2006, Vol.12, 790-798.
Chapters in handbooks
Cumming, D./Haß, L. H./Schweizer, D. (2013): Role of Alternative Investments in Strategic Asset Allocation, in H. K. Baker and G. Filbeck (editors), Alternative Investments: Instruments, Performance, and Strategies (Robert W. Kolb Series in Finance), John Wiley & Sons, 19-36.
Haß, L. H./Proelss, J./Schweizer, D. (2013): Alternative Investments, in H. K. Baker and G. Filbeck (editors), Portfolio Theory and Management, Oxford University Press, 314-340.
Mietzner, M./Schweizer, D. (2012): Private Equity Activism and the Consequences for Targets and Rivals in Germany, in D. Cumming (editor), The Handbook of Private Equity, Oxford University Press, 495-520.
Haß, L. H./Schweizer, D. (2010): Das Diversifikations- und Downside Protection-Potenzial von Rohstoffportfolios in Multi-Asset Portfolios, in: R. Eller (editor), Risikomanagement in Rohstoffmärkten, Gabler Verlag, Wiesbaden, 407-424.
Benk, K./Haß, L. H./Johanning, L./Rudolph, B./Schweizer, D. (2009): Portfoliooptimierung: Korrelationen von Immobilien mit anderen Märkten und Assetklassen: Effiziente Portfoliodiversifikation unter Berücksichtigung von Downside-Risiken, in: K. Junius and D.l Piazolo (editors), Praxishandbuch Immobilienmarktrisiken, Immobilienmanager Verlag, Köln, 171-188.
Proelss, J./Schweizer, D. (2009): Optimal Multi Asset Portfolios, in: G. N. Gregoriou (editor), Value-at-Risk – Alternative Investments, Banking, Insurance and Portfolio Management, Mc Graw Hill, New York, 315-341.
Schweizer, D. (2008): Five Entries, in: Encyclopaedia of Alternative Investments, Greg N. Gregoriou (editor), Chapman Hall, U.K.
Proelss, J./Schweizer, D. (2008): Efficient Frontier of Commodity Portfolios, in: F. Fabozzi, R. Füss and D. G. Kaiser (editors): The Handbook of Commodity Investing, John Wiley and Sons, New Jersey, 454-478.
Kaiser, D. G./Lauterbach, R./Schweizer, D. (2007): Total Loss Risk in European versus U.S.-based Venture Capital Investments, in: G. N Gregoriou, M. Kooli and R. Kraeussl (editors): Venture Capital in Europe, Elsevier Finance, Oxford, 371-387.
Johanning, L./Proelss, J./ Rosenbusch, A. Ph./Schweizer, D. (2006): Strategy Selection for Hedge Fund and Managed Futures Portfolios using Higher Moments, in: G. N. Gregoriou and D. G. Kaiser (editors): Hedge Funds and Managed Futures – A Handbook for Institutional Investors, Risk Books, London, 301-322.
Lauterbach, R./Schweizer, D. (2006): Risikoanalyse von Totalausfällen bei Venture Capital Firmen, in: M. Busack and D. G. Kaiser (editors): Handbuch alternative Investments, Vol. 2, Gabler, Wiesbaden, 89-108.
Refereed conference and seminar series presentations
2021: FMA (Denver, USA); 2nd Annual Boca Corporate Finance and Governance Conference (Boca Raton, USA)
2020: 21st Century Challenges for Corporate Governance (Boca Raton, USA), British Journal of Management Mike Wright Symposium (Virtual), Boca Corporate Finance and Governance Conference (Virtual), FMA (Virtual)
2019: Lixin 90th Anniversary Celebration Corporate Finance Workshop (Shanghai, China); Midwest Finance Association (Chicago, USA); SKEMA conference on Fintech & Digital Finance (Nice, France) (2 papers), Annual Conference of the French Finance Association (AFFI) (Québec City, Canada), INFINITI Conference (Glasgow, U.K.), Developments in Alternative Finance (Birmingham, U.K.), ENTFIN Conference on Entrepreneurial Finance (Trier, Germany), FMA (New Orleans, USA) (3 papers), Southern Finance Association (Orlando, USA)
2018: AREUEA-ASSA Conference (Philadelphia, USA),American Marketing Association (New Orleans, USA), M&A Alumni Deutschlande.V. (Münster, Germany), European Financial Management Association (Milan,Italy), FMA Europe (Kristiansand, Norway), VHB-Pfingsttagung 2018 (Magdeburg,Germany), 2018 Cross Country Perspectives in Finance (CCPF) Conference (Guangzhou, China), 2018 Chinese Economists Society China Conference (Hefei,China), First Annual Conference on Fintech and Banking TransformationFinteQC’18, (Lévis, Canada), Third Entrepreneurial Conference (Milan, Italy),FMA (San Diego, USA) (2 papers), Digital, Innovation, Entrepreneurship and Finance (Lyon, France) (2 papers), 2nd Emerging Trends in Entrepreneurial Finance Conference (Hoboken, USA), 2nd Private Markets Conference Research Conference (Lausanne, Switzerland), Developments in Entrepreneurial Finance:Crowdfunding, Blockchain, and ICOs (Lyon, France) (2 papers), Northern FinanceAssociation (Charlevoix, Canada), 3rd International Energy Finance Conference(Xi'an, China), Operations Research 2018 (Brussels, Belgium), International Conference on Global Economy & Governance (Shanghai, China), Workshop on Corporate Governance and the Capital Allocation Process Within Society (Leipzig,Germany), 2018 Cross Country Perspectives in Finance (CCPF) Conference (Dar es Salaam, Tanzania)
2017: Northern Finance Association (Halifax, Canada) (3 papers),Eastern Finance Association (Jacksonville, USA), Southwestern Finance Association (Little Rock, USA), Munich Summer Institute 2017 (Munich, Germany),Academy of Management (Atlanta, USA), European Academy of Management Conference(EURAM) (Glasgow, UK), Corporate Governance Implications of New Methods of Entrepreneurial Firm Formation (Bergamo, Italy), FMA (Boston, USA) (5 papers),Entrepreneurial Finance Conference (Ghent, Belgium) (2 papers), EuropeanEconomic Association (Lisbon, Portugal), Crowdfunding Workshop at Emlyon Business School’s Research Centre for Entrepreneurial Finance (Lyon, France),Journal of Corporate Finance Conference “Corporate Governance of a Multinational Enterprise: Firm, Industry and Institutional Perspectives”(Atlanta, USA), International Banking and Finance Association Asia (Ningbo,China) (2 papers), Verein für Socialpolitik (Vienna, Austria), Australasian Finance and Banking Conference (Sydney, Australia), Paris Financial Management Conference (Paris, France)
2016: World Finance Conference (New York City, USA), Entrepreneurship, the Internet, and Fraud: Managerial and Policy Implications (Montréal, Canada), 2016 Commodity Markets Conference (Hannover, Germany) (2 papers), Academy of International Business (New Orleans, USA), FMA (Las Vegas, USA), Strategic Management Society (Berlin, Germany), EMLYON Entrepreneurial Finance Conference (Lyon, France), International Atlantic Economic Conference (Washington, USA) (2 papers), 2016 Accounting Conference at Temple University (Philadelphia, USA), G-Forum (Leipzig, Germany)
2015: “Economics of Entrepreneurship and Innovation” Workshop (Trier, Germany) (2 papers), FMA (Orlando, USA) (2 papers), Forum for Economists International (Amsterdam, Netherlands), 2015 Commodity Market Workshop (Oslo, Norway), 5th Chinese Capital Markets Conference (Winnipeg, Canada) (2 papers)
2014: CFA-JCF-Schulich Conference on “Financial Market Misconduct” (Toronto, Canada), AFFI (Aix-en-Provence, France), Micro-Foundations for Strategic Management Research: Embracing Individuals (Copenhagen Denmark), 2nd Crowdinvesting Symposium at LMU Munich (Munich, Germany), 2014 JBE Tibet Conference (Lhasa, Tibet), INFINITI 2014 (Prato, Italy), Strategic Management Society (Madrid, Spain), FMA (Nashville, USA), AFFI Paris December 2014 Finance Meeting (Paris, France)
2013: JBE Conference on “Sustainable and Ethical Entrepreneurship, Corporate Finance and Governance, and Institutional Reform in China” (Beijing, China), Australian Centre for Entrepreneurship Research Exchange Conference (ACERE) (Brisbane, Australia), Conference of the Swiss Society for Financial Markets (SGF) (2 papers) (Zürich, Switzerland), European Financial Management Association (Reading, UK), Corporate Governance an International Review (CGIR) Conference on "Global Perspectives on Entrepreneurship: Public and Corporate Governance" (Toronto, Canada), Annual Conference on Innovation and Entrepreneurship (Chicago, USA), European Academy of Management Conference (EURAM) (Istanbul, Turkey), Babson Management Conference (Babson Park, USA); AFFI (2 papers) (Lyon, France), FMA (Chicago, USA), FRAP - International Research Conference on Finance, Risk and Accounting Perspectives (Cambridge, UK), 3rd HEC Workshop on Entrepreneurship (Paris, France), German Finance Association (DGF) (2 papers) (Wuppertal, Germany), Berkeley - 2013 Fung Institute Academic Symposium on Crowdfunding (Berkley, USA), 3rd Conference on the Chinese Capital Markets (Edinburgh, UK)
2012: WHU Campus for Finance (Vallendar, Germany), International Conference on Computational and Financial Econometrics (Oviedo, Spain), Conference of the Swiss Society for Financial Markets (SGF) (2 papers) (Zurich, Switzerland), International Small Business Journal Special Issue Conference: Exploring Entrepreneurial Activity and Small Business Issues in the Chinese Economy (Shenzhen, China)
2011: WHU Campus for Finance (Vallendar, Germany), European Financial Management Alternative Investments Conference (3 papers) (Toronto, Canada), German Economic Association of Business Administration e.V. (GEABA) (2 papers) (Vallendar, Germany)
2010: Midwest Finance Association (3 papers) (Las Vegas, USA), WHU Campus for Finance (Vallendar, Germany), Eastern Finance Association (6 papers) (Miami Beach, USA), Conference of the Swiss Society for Financial Markets (SGF) (2 papers) (Zurich, Switzerland)
2009: German Finance Association (DGF) (Frankfurt, Germany), German Economic Association of Business Administration e.V. (GEABA), Conference of the Swiss Society for Financial Markets (SGF) (Zurich, Switzerland), Midwest Finance Association (3 papers) (Chicago, USA), Eastern Finance Association (Washington, USA), WHU Campus for Finance (5 papers) (Vallendar, Germany)
2008: HVB Doctoral Seminar (Eltville, Germany), Midwest Finance Association (San Antonio, USA), International Business Research Conference (Dubai, UAE), Financial Management Association (Grapevine, USA), European Financial Management Association (2 papers) (Athens, Greece), European Conference of the Financial Management Association (Prague, Czech Republic), Eastern Finance Association (St. Pete Beach, USA), Academy of Economics and Finance (2 papers) (Nashville, USA)