Leibniz-Institut für Finanzmarktforschung SAFE

🏦 To build a competitive banking sector, an improved Crisis Management and Deposit Insurance framework is essential.   📝 The CMDI Proposal, which is about to enter the crucial trilogue phase between the European Parliament, the Council of the European Union, and the European Commission, aims to make resolution funding more accessible and broaden the scope of resolution. However, the lack of common deposit insurance and reliable liquidity support continues to undermine the framework's credibility.   Read how Ioannis Asimakopoulos & Tobias Tröger assess the proposed changes in the SAFE Finance Blog 👉 https://lnkd.in/ekrwQm3W   #CMDIReform #BankingUnion

📢Call for Papers Together with the CEPR - Centre for Economic Policy Research Research and Policy Networks on European Financial Architecture, RPN on European Economic Policy, and RPN on FinTech and Digital Currencies, we invite you to submit a paper for the 1st CEPR Frankfurt Hub Conference, with a keynote by Isabel Schnabel. Topics of interest include (but are not limited to): 🟢Digital Euro and Central Bank Digital Currencies 🟢Economic and Monetary Union, Banking Union, and Capital Market Union 🟢Green Euro: European Stability Regulation and Green Monetary Policy 📅Deadline for submissions: 1 September 2024 👉All details: https://lnkd.in/gxB6YyjA #CallforPapers #CBDC #DigitalEuro

🎉Congratulations to Ruggero Jappelli! Our researcher was awarded the John A. Doukas Ph.D. Best Paper Award at the 2024 Annual Meeting of the EFMA - European Financial Management Association for his paper "Asset Pricing with Dynamic and Static Investors" on 29 June 2024. Ruggero’s paper introduces a capital asset pricing model that differentiates between dynamic investors, whose asset allocation responds to news, and static investors, who hold a constant allocation across asset classes even if risk and return change over time. His study proposes the "asset class effect," whereby the wealth invested in the equity asset class to implement static allocation strategies increases the aggregate valuation of the set of stocks, which is thus above the aggregate discounted dividend stream. The John A. Doukas Ph.D. Best Paper Award is assigned to the best Ph.D. student solo-authored paper submitted to the EFMA Annual Meeting. This award recognizes outstanding research with significant potential impact within the finance community. Ruggero has recently received his Ph.D. from Goethe-Universität Frankfurt and is part of the Financial Markets department headed by Loriana Pelizzon. #finance #phd #award

Stay up to date on the latest research at SAFE! 📝 You can now register for SSRN news updates to get our newest Working Papers delivered straight to your inbox. For the subscription, an SSRN account is necessary. 👉More information: https://lnkd.in/eKukJxxb #Research #WorkingPaper #SustainableFinance

📢The tone of shareholder letters influences capital flows: ✉️In a recent study, SAFE researcher Alexander Hillert and his co-authors Alexandra Niessen-Ruenzi and Stefan Ruenzi (Universität Mannheim) analyze how far the writing tone of shareholder letters influences capital flows into mutual funds. 🧐📉"Our analysis shows that the letter's writing style matters: As negative terms and phrases in a shareholder letter increase, the average fund's net flows decrease by more than three million dollars. Investors react quickly as soon as they receive the document", says Alexander Hillert. 👉Read more about their study forthcoming in Management Science: https://lnkd.in/ec723z6b #MutualFunds #CapitalFlows #Finance

👩💼💵Looking for a Girl in Finance? SAFE Household Finance Department Director Christine Laudenbach will talk at the workshop "Looking for a Girl in Finance.", organized by the Bundesministerium der Finanzen and Hessisches Ministerium der Finanzen (FinanzenHessen). 📅 16 July 2024 📍 Berlin The event (in 🇩🇪) aims at educating girls aged 16-21 about financial literacy and independence. 👉Sign up here: https://lnkd.in/ew7Y9ZMx #girlinfinance #maninfinance #FinancialLiteracy

🔙Did you miss the Financial History Workshop co-hosted by SAFE together with the House of Finance and the Institut für Bank- und Finanzgeschichte e.V.-? 👉You can now find the follow-up report on our website: https://lnkd.in/eqjA5QgG Thank you, Marc Flandreau, for organizing the workshop titled "States of Distress: Sovereign Debt Crises and the World They Made 18th - 20th Century"! Also a big thank you to all participants and presenters Pete Veru, Elya Zhang, Karina Patrício Ferreira Lima, Damian Clavel, Mariusz Lukasiewicz, Maria Stella Chiaruttini, Gabriel Geisler Mesevage, Tobias Straumann, Kim Oosterlinck, Vincent Bignon and Carsten Detken! #sovereigndebt #FinancialHistory

Read in the SAFE Regulatory Radar in June 2024 about: 🟩Harmonized anti-money laundering rules across the EU and the legal framework for the establishing of the new European Authority for Anti-Money Laundering and Countering the Financing of Terrorism 🟩New EU rules amending the Capital Requirements Regulation and Capital Requirements Directive to make banks more resilient to economic shocks 🟩New obligations for large companies regarding complying with human rights and environmental impact 👉Read more: https://lnkd.in/eE3qjZbs #regulation #AMLA #ESG

💼Join us at SAFE! We have a job opening for a postdoctoral researcher (d/f/m) in our Law and Finance cluster. 🔎Your tasks will include research on corporate governance and financial market regulation or related fields. 👩🏫Involvement in the teaching of Goethe-Universität Frankfurt's bachelor, master, and/or Ph.D. programs is highly welcome. 📅Apply until 18 July 2024. 👉All details: https://lnkd.in/ghc3tCbN

Sebastian Steuer and Tobias Tröger look at how #disclosure regulations in green #finance can promote #sustainability and whether they can help achieve #optimal climate #targets. Steuer and Tröger argue that #mandatory transparency #requirements can encourage investors to favor #green investments and demand higher #returns for environmentally #harmful ones. While not as effective as direct #interventions like global #emissions trading, green finance #regulations can still #support the move towards sustainability. Oxford University Press Leibniz Institute for Financial Research SAFE Goethe University Frankfurt #greenfinance #sustainability #disclosure #climatetargets #investors #transparency #marketdiscipline #environment #regulations #globaltransition #emissionstrading #greeneconomy https://lnkd.in/db-fR62K