Research
Research Fields
Banking, Corporate Finance, FinTech, Political Economy
| REFEREED PUBLICATIONS |
| Banks, Political Capital, and Growth with Wolf Wagner and Eden Zhang Review of Corporate Finance Studies, 2023, 12: 613-655. [code, data, reproducibility certificate] |
| Liquidity Creation, Investment, and Growth with Thorsten Beck, Robin Döttling and Mathijs van Dijk Journal of Economic Growth, 2023, 28: 297-336. |
| Winning Connections? Special Interests and the Sale of Failed Banks with Deniz Igan, Wolf Wagner and Eden Zhang Journal of Banking and Finance, 2022, 140: 106496 |
| Security Token Offerings with Daniel Liebau and Peter Roosenboom Small Business Economics, 2022, 59: 299–325 |
| Lobbying on Regulatory Enforcement Actions: Evidence from U.S. Commercial and Savings Banks Management Science, 2019, 65: 2545-2572 |
| Collective Bargaining and Mergers and Acquisitions Activity around the World with Farooq Ahmad Journal of Banking and Finance, 2019, 99: 21-40 |
| The Political Economy of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries with Hans Degryse and Armin Schwienbacher Economic Journal, 2018, 128: 1433-1475 |
| Crowdfunding: Tapping the Right Crowd with Paul Belleflamme and Armin Schwienbacher Journal of Business Venturing, 2014, 29: 585-609. [Lead article] |
| CHAPTERS IN BOOKS |
| Bank Lobbying: Regulatory Capture and Beyond with Deniz Igan, 2019, in Emilios Avgouleas and David Donald, eds.: The Political Economy of Financial Regulation (Cambridge University Press) |
| Endogenous Political Institutions and Financial Development with Paolo Volpin, 2018, in Thorsten Beck and Ross Levine, eds.: Handbook of Finance and Development (Edward Elgar) |
| The Crowd-Entrepreneur Relationship in Startup Financing with Aleksandrina Ralcheva and Peter Roosenboom, 2018, in Douglas Cumming and Lars Hornuf, eds.: The Economics of Crowdfunding (Palgrave Macmillan) |
| Effets de réseau et financement participatif : une analyse empirique with Paul Belleflamme and Armin Schwienbacher, 2018, in François Moreau and Yann Nicolas, eds.: Financement participatif : une voie d’avenir pour la culture ? (Presses de Sciences Po) |
| An Industrial Organization Framework to Understand the Strategies of Crowdfunding Platforms with Paul Belleflamme, 2016, in Jérôme Méric, Isabelle Maque, and Julienne Brabet, eds.: International Perspectives on Crowdfunding (Emerald) |
| BOOKS |
| Comptabilité et analyse des états financiers. Exercices et corrigés with Loic Decaux and Yannick de Harlez, (1st ed.) 2014, (2nd ed.) 2016, (De Boeck) |
| Does Democracy Shape International Merger Activity? with Farooq Ahmad, Arthur Petit-Romec, and Jose Martin-Flores Revise & Resubmit Journal of International Economics May 2023 [CASCAD reproducibility certificate] From 101,834 cross-border deals announced between 1985 and 2018, we find that merger flows involve acquirers from more democratic countries than their targets |
| Crowdfunding Entrepreneurship: Evidence from US Counties with Aleksandrina Ralcheva and Peter Roosenboom Reject & Resubmit Management Science May 2023 Kickstarter activity over the past decade fostered the creation and development of young businesses within US counties |
| Spillovers in Crowdfunding with Paul Belleflamme and Armin Schwienbacher April 2023 — This paper supersedes “Crowdfunding Dynamics,” CESifo Working Paper No. 7797 Recurrent backers, by boosting funding dynamics within projects and generating positive spillovers across projects, are a major source of competitive advantage for crowdfunding platforms |
| (In)dependent Central Banks with Vasso Ioannidou, Sotirios Kokas, and Alexander Michaelides, CEPR Discussion Paper No. 17802 January 2023 Appointments of central bank governors have become more politically motivated over time, especially after institutional reforms aiming to insulate central banks from political interference |
| The Rise of Crowdfunding June 2022 Prepared for Oxford Research Encyclopedia of Business and Management I provide an overview of the crowdfunding phenomenon |
| The Politics of the Paycheck Protection Program with Deniz Igan and Prachi Mishra, CEPR Discussion Paper No. 16842 December 2021 Both firm- and industry-level lobbying is associated with larger PPP lending during the pandemic |
| Local Bank Supervision with Di Gong and Wolf Wagner COMING SOON |
| SME Exposure to Inflation Risk: The Role of Leverage, by Vasso Ioannidou, Sudipo Karmakar, Elena Markoska, and Neeltje van Horen 2023 Banque de France Workshop on Empirical Corporate Finance |
| The Economic Effects of Political Polarization: Evidence from the Real Asset Market, by Ran Duchin, Abed El Karim Farroukh, Jarrad Harford, and Tarun Patel 2023 EFA Meetings |
| Political Ideology and International Capital Allocation, by Elisabeth Kempf, Mancy Luo, Larissa Schäfer, and Margarita Tsoutsoura 2022 EFA Meetings |
| Financial Policymaking after Crises: Public vs. Private Interests, by Orkun Saka, Yuemei Ji and Paul De Grauwe 2021 FBF-SAFE-SRB Conference on Bank Crisis Management |
| Debt in Political Campaigns, by Alexei Ovtchinnikov and Philip Valta 2020 Helsinki Workshop on Finance and Politics |
| Who Pays a Visit to Brussels? Cross-Border Firm Value Effects of Meetings with European Commissioners, by Kizkitza Biguri and Joerg Stahl 2019 EFA Meetings |
| Financing Legislators, by Renée Adams and Thomas Mosk 2019 IWH-FIN-FIRE Workshop on Challenges to Financial Stability |
| The Effects of Credit Supply on Wage Inequality between and within Firms, by Christian Moser, Farzad Saidi and Benjamin Wirth 2018 CEPR Endless Summer Conference on Financial Intermediation and Corporate Finance |
| The Effect of Bank Supervision on Risk Taking: Evidence from a Natural Experiment, by John Kandrac and Bernd Schlusche 2018 EFA Meetings |
| Political Lending Cycles and Real Outcomes: Evidence from Turkey, by Cagatay Bircan and Orkun Saka 2018 CEPR Swiss Winter Conference on Financial Intermediation |
| The Value of Offshore Secrets: Evidence from the Panama Papers, by James O’Donovan, Hannes Wagner and Stefan Zeume 2017 EFA Meetings |
| Finance and Inequality: The Distributional Impacts of Bank Credit Rationing, by Ali Choudhary and Anil Jain 2016 EFA Meetings |
| 2021 | Research grant on “Decentralized Exchanges” (Paris-Dauphine FinTech Chair) |
| 2020 | ERIM Award for Outstanding Performance by a Young Researcher |
| 2019 | RSM Funding Award |
| 2019 | NWO Veni grant (Dutch Research Council) |
| 2017 | Emerald Citations of Excellence Award |
| 2016 | Best Paper Award at the Cass Business School Emerging Scholars in Banking and Finance Conference |
| 2016 | Banque de France Foundation Best Thesis in Monetary and Financial Economics Prize |
| 2016 | AFFI–FNEGE Best Finance Thesis Award (French Finance Association) |
| 2016 | EACES Best Thesis Award (European Association for Comparative Economic Studies) |
| 2015 | Research grant on crowdfunding (French Ministry DEPS–Labex ICCA) |
| 2014 | LSM-UCLouvain Research Excellence Award |
| 2014 | Finalist FMA Best Paper Award in Corporate Finance (Financial Management Association) |
| 2013 | FNRS Travel Grant (Belgian Fund for Scientific Research) |