Concordia University

https://www.concordia.ca/content/concordia/en/jmsb/faculty.html

Denis Schweizer, PhD

Associate Professor, Finance


Education

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. He was awarded the titles of Financial Risk Manager (FRM) and Certified Financial Planner (CFP).

In August 2008 Denis Schweizer was appointed Assistant Professor of Alternative Investments at WHU – Otto Beisheim School of Management.  He published numerous articles in the field of alternative investments and corporate finance in renowned journals and books, received multiple research awards.  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.  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 received the Manulife Professorship in Financial Planning in November 2015. In June 2016 he was appointed as director of the Van Berkom Small-Cap Investment Management Program.

Areas of expertise

  • Alternative Investments
  • Chinese Capital Markets
  • Crowdfunding
  • Commodities
  • Corporate Finance
  • Entrepreneurial Finance
  • Fraud
  • Hedge Funds
  • Insider Trading
  • Innovation
  • Rare Earth Material
  • Real Estate
  • Risk Management
  • Venture Capital


Research activities

Most Important External Research Grants

CAD   52,085 SocialSciences and Humanities Research Council (SSHRC) of Canada, Insight DevelopmentGrant on “Real Estate Crowdfunding - Risk and Debt Financing” (co-investigatorwith 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” (principalinvestigator with Douglas Cumming, 2015-2020)


Publications

Working Papers

[7] [NEW] Cross-BorderAcquisitions by Chinese Enterprises: The Benefits and Disadvantages of Political Connections
Denis Schweizer (Concordia University); Thomas Walker (Concordia University); Aoran Zhang (Concordia University)

Presentation October 2017

[6] [NEW Version October 2017] Do Privatly 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

[5] [NEW] China: From Imitator to Innovator?
Juliane Proelss (Concordia University); Denis Schweizer (Concordia University); Feng Zahn (Boler School of Business)

Presentation October 2017

[4] [NEW]
Buy and Build Stategies 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

[3] [NEW Version April 2017] Disentangling Crowdfunding from Fraudfunding

Douglas Cumming (York University); Lars Hornuf (University of Trier); Moein Karami (Concordia University); Denis Schweizer (Concordia University)

Presentation October 2017

[2] [NEW Version November 2017] The Economic Importance of Rare Earth Elements Volatility Forecasts
Juliane Proelss (Concordia University); Denis Schweizer (Concordia University); Volker Seiler (University of Paderborn)

Presentation October 15, 2016

[1] [NEW Version April 2017] Do Announcements of WTO Dispute Resolution Cases Really Matter? Evidence from Rare Earth Markets
Juliane Proelss (Concordia University); Denis Schweizer (Concordia University); Volker Seiler (University of Paderborn)

Presentation April 21, 2016

Refereed journal articles


[34] [NEW] Information Systems, Agency Problems, and Fraud
Cumming, D./ Johan, S./ Schweizer, D., Information Systems Frontier, 2017, Vol. 19, 421-424.

[33] [NEW] 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.


[32] [NEW] Do Principles Pay in Real Estate Crowdfunding?
Schweizer, D./ Zhou, T.,
Journal of Portfolio Management, forthcoming


[31]
Hidden Champions or Black Sheep? The Role of Underpricingin the German Mini-Bond Market
Mietzner, M./
Proelss, P./Schweizer, D., Small Business Economics, forthcoming.

[30]
Is the Crowd Sensitive to Distance? – Differences in Investment Decisions of Retail and Institutional Investors
Günther, C./Johan, S./Schweizer, D., Small Business Economics, forthcoming.

  • Presentation

[29] 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.

[28] 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. 

[27] 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.

  • Presentation

[26] 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.   

[25] 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
[24] 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.

[23] Are Informed Traders Sensitive to the Regulatory Environment?

Ordu, U./Schweizer, D., European Journal of Finance, forthcoming.

[22] 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.

[21] 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.

[20] 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.

[19] 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.

[18] 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

[17] 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.

[16] 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.

[15] 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.

[14] 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

[13] How Important Are Top Managers Really? Empirical Evidence from a Low Discretion Country

Voußem, B.A./Burchard, C.H./Schäffer, U./Schweizer, D., Zeitschrift für Betriebswirtschaft (Journal of Business Economics), 2013, Vol. 2, 149-184.

[12] Portfolio Optimization with Private Equity

Cumming, D./Haß, L.H./Schweizer, D., Journal of Banking and Finance, 2013, Vol. 37, 3515-3528.

[11] 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.

[10] 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

[9] 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.

[8] 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.

[7] 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.

[6] 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.

[5] Are Portfolio Holdings Affected by Parameter Uncertainty and Ambiguity?
Proelss, J./Schweizer, D., IEB International Journal of Finance, 2011, Vol. 3, 2-37.

[4] Creeping-in als neues Instrument der Unternehmenskontrolle – Taktische Meisterleistung oder unkalkulierbares Risiko?

Koziol, C./Noël, P./Schweizer, D., Zeitschrift für Betriebswirtschaft (Journal of Business Economics), 2011, Vol. 81, 833-854.

[3] 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.

[2] 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

[1] Systematische Unterschiede hinsichtlich der Risikoneigung zwischen 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.


Participation activities

Refereed conference and seminar series presentations

2018: AREUEA-ASSA Conference (Philadelphia, USA) (scheduled)

2017: Northern Finance Association (Halifax, Canada) (3 papers),Eastern Finance Association (Jacksonville, USA), Southwestern FinanceAssociation (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 ofEntrepreneurial Firm Formation (Bergamo, Italy), FMA (Boston, USA) (5 papers),Entrepreneurial Finance Conference (Ghent, Belgium) (2 papers), EuropeanEconomic Association (Lisbon, Portugal), Crowdfunding Workshop at EmlyonBusiness School’s Research Centre for Entrepreneurial Finance (Lyon, France),Journal of Corporate Finance Conference “Corporate Governance of aMultinational Enterprise: Firm, Industry and Institutional Perspectives”(Atlanta, USA), International Banking and Finance Association Asia (Ningbo,China) (2 papers), Verein für Socialpolitik (Vienna, Austria), AustralasianFinance and Banking Conference (Sydney, Australia), Paris Financial ManagementConference (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)

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