Research
| REFEREED PUBLICATIONS |
| 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) |
| Banks, Political Capital, and Growth with Wolf Wagner and Eden Zhang, CEPR Discussion Paper No. 15612 October 2021 (code & data available here) Political capital held by banks positively affects output growth, but the benefits are short lived and directed toward existing firms |
| Security Token Offerings with Daniel Liebau and Peter Roosenboom September 2021 The STO market is still in its infancy but shows promises in the entrepreneurial finance landscape |
| Liquidity Creation, Investment, and Growth with Thorsten Beck, Robin Döttling and Mathijs van Dijk, CEPR Discussion Paper No. 14956 April 2021 Liquidity creation by banks helps economies grow faster by fostering tangible but not intangible investment |
| Winning Connections? Special Interests and the Sale of Failed Banks with Deniz Igan, Wolf Wagner and Eden Zhang, CEPR Discussion Paper No. 12440 November 2020 Banks engaged in lobbying activities interfere with an efficient resolution process during the financial crisis |
| Crowdfunding Dynamics with Paul Belleflamme and Armin Schwienbacher, CESifo Working Paper No. 7797 August 2019 Recurrent backers boost campaign dynamics in crowdfunding and as such are a fundamental source of platform growth |
| The Politics of the Paycheck Protection Program with Deniz Igan and Prachi Mishra November 2021 Both firm- and industry-level lobbying is associated with larger PPP lending during the pandemic |
| (In)dependent Central Banks with Vasso Ioannidou, Sotirios Kokas, and Alex Michaelides COMING SOON Appointments of central bank governors have become more politically motivated over time, especially after institutional reforms aiming to insulate central banks from political interference |
| Democratizing Entrepreneurship: The Real Effects of Crowdfunding with Aleksandrina Ralcheva and Peter Roosenboom COMING SOON Kickstarter activity significantly contributes to aggregate growth in the US, by boosting the rate of entrepreneurship |
| 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 |
| Deputization, by Bruce Carlin, Tarik Umar and Hanyi Yi 2021 AFFI Meetings |
| 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) |