fallback portrait photo

Christian Laux

Univ.Prof. Dr.rer.pol. Christian Laux
Telephone:
+43 1 31336 5281
Email:
Contact information and photo taken from and editable at WU Directory.

CV

since 2010
Professor in Finance, Vienna University of Economics and Business
2009
Visiting Faculty, University of Chicago Booth School of Business, USA
2008
Global Markets Senior Fellow, Initiative on Global Markets, University of Chicago, Graduate School of Business, USA
2005
Metzler Visiting Professor, Insurance and Risk Management Department, University of Pennsylvania, Wharton School, USA
2004
Visiting Faculty, Department of Accounting and Finance, London School of Economics, UK
2003
Visiting Faculty, Department of Accounting and Finance, London School of Economics, UK
2002-2010
Professor in Finance, Johann Wolfgang Goethe-University, Frankfurt am Main, Germany
2002
Habilitation, University of Mannheim, Germany
2002
Visiting Lecturer in Finance, Department of Accounting and Finance, London School of Economics, UK
1996-2002
Assistant Professor, University of Mannheim, Germany
1995
Dr. rer. pol, Goethe-University Frankfurt, Germany
1995-1996
Visiting Fellow, Economics Department, Harvard University, USA
1990
Master of Business Administration (MBA), University of Wisconsin-Madison, USA

Researcher Identifier

    No researcher identifier found.

Awards and Honors

2009
Excellence in Teaching Award, Goethe Business School: Executive Master of Finance and Accounting Class of 2009
2008
Excellence in Teaching Award, Goethe Business School: Duke Goethe Executive MBA Class of 2008
Excellence in Teaching Award, Goethe Business School: Executive Master of Finance and Accounting Class of 2008
2007
Teaching Award, Goethe University Frankfurt, Summer 2007 (Vertiefung, Diplom)
2006
Teaching Award, Goethe University Frankfurt, Summer 2006 (Vertiefung, Diplom)

Classifications

    No classifications found.

Expertise

  • Contract Theory
  • Corporate Finance
  • Organization
  • Risk Management

Activities

Position in jury, advisory board, curatorship
  since 2012 Scientific Committee UniCredit & Universities Foundation
Membership in scientific association
  since 2014 Ausschuss für Unternehmensrechnung, Verein für Socialpolitik
  since 2007 European Corporate Governance Institute (ECGI)
  since 2006 Ausschuss für Unternehmenstheorie und -politik, Verein für Socialpolitik
Member of the editorial board
  2012-2015 European Accounting Review
Organization scientific meeting (Conference etc.)
  2017 WU Gutmann Center Symposium - Member Program Committee
  2017 Western Finance Association - Member Program Committee
  2017 Western Finance Association - Member Program Committee
  2017 European Winter Finance Summit - Program Chair
  2017 European Finance Association - Member Program Committee
  2017 European Accounting Association - Member Program Committee
  2016 Western Finance Association - Member Program Committee
  2016 European Winter Finance Summit - Member Program Committee
  2016 European Finance Association - Member Program Committee
  2016 European Accounting Association - Member Program Committee
  2015 WU Gutmann Center Symposium - Member Program Committee
  2015 Western Finance Association - Member Program Committee
  2015 VHB Jahrestagung - Member Program Committee
  2015 European Winter Finance Summit - Program Chair
  2015 European Finance Association - Member Program Committee
  2014 Western Finance Association - Member Program Committee
  2014 European Winter Finance Summit - Member Program Committee
  2014 European Finance Association - Member Program Committee
  2013 WU Gutmann Center Symposium - Member Program Committee
  2013 European Winter Finance Summit - Member Program Committee
  2013 European Finance Association - Member Program Committee
  2011 WU Gutmann Center Symposium - Member Program Committee
Position in administration
  2017 Recruiting Committee, AFA Job Market - Chair
  2016 Recruiting Committee, AFA Job Market - Chair
  2015 Recruiting Committee, AFA Job Market - Chair
Academic advisor
  since 2012 Emory University
Attendance scientific meeting (Conference etc.)
  2016 American Finance Association - Paper on Program
  2015 SIFR Conference Insurance Economics: New Risks, New Regulation, New Approaches - Discussion
  2015 Journal of Accounting and Economics Conference - Discussant
  2015 Finance between Liquidity and Insolvency - Discussant
  2015 European Finance Association - Discussant, Doctoral Tutorial
  2015 European Accounting Association - Presentation and Discussion
  2014 GSE Summer Forum “Financial Intermediation, Risk and Liquidity Management” - Tagungsteilnahme und Vortrag
  2014 European Finance Association - Tagungsteilnahme und Vortrag
  2014 BIS-Bundesbank Conference “The Interplay of Accounting and Regulation and its Implications for Bank Behaviour” - Tagungsteilnahme und Vortrag
  2013 SAFE Workshop on Transparency - Tagungsteilnahme und Vortrag
  2013 GSE Summer Forum “Financial Intermediation, Risk and Liquidity Management” - Tagungsteilnahme und Vortrag
  2011 Workshop on Solvency II and its interaction with Basel III, De Nederlandsche Bank - Tagungsteilnahme
  2011 NBER ‘s Insurance Project Workshop - Tagungsteilnahme und Vortrag
  2011 Journal of Accounting Research Conference
  2011 Jahrestagung des Vereins für Socialpolitik - Tagungsteilnahme und Vortrag
  2011 Information for Better Markets Conference - Tagungsteilnahme und Vortrag
  2011 Financial Intermediation Research Society Conference - Tagungsteilnahme und Vortrag
  2011 European Group of Risk and Insurance Economists Meeting - Tagungsteilnahme und Vortrag
  2011 European Finance Winter Summit - Tagungsteilnahme und VortragTagungsteilnahme und Vortrag
  2011 DNB Workshop on Liquidity Premium in Solvency II: Conceptual and Measurement Issues - Tagungsteilnahme und Vortrag

Publications

Book (monograph)

1996 Laux, Christian. 1996. Kapitalstruktur und Verhaltenssteuerung: Finanzierungsverträge als Bindungs- und Anreizinstrumente. Wiesbaden: Gabler. (Details)

Journal article

Forthcoming Kolm, Julian, Laux, Christian, Loranth, Gyöngyi. Forthcoming. Bank Regulation, CEO Compensation, and Boards. Review of Finance , (Details)
2017 Laux, Christian, Loranth, Gyöngyi, Morrison, Alan D. Forthcoming. The Adverse Effect of Information on Governance and Leverage. Management Science (MS) , (Details)
2016 Laux, Christian, Rauter, Thomas. Forthcoming. Procyclicality of US Bank Leverage. Journal of Accounting Research , (Details)
  Laux, Christian. 2016. The economic consequences of extending the use of fair value accounting in regulatory capital calculations: A discussion. Journal of Accounting and Economics 62 (2-3), 204-208. (Details)
2015 Doherty, Neil, Laux, Christian, Mürmann, Alexander. 2015. Insuring Nonverifiable Losses. Review of Finance 19 (1): S. 283-316. (Details)
2012 Laux, Christian. 2012. Financial Instruments, Financial Reporting, and Financial Stability. Accounting and Business Research 42 (3): 1-22. (Details)
2010 Laux, Christian, Leuz, Christian. 2010. Did Fair-Value Accounting Contribute to the Financial Crisis?. Journal of Economic Perspectives 24 (1): 93-118. (Details)
  Laux, Christian, Mürmann, Alexander. 2010. Financing risk transfer under governance problems: Mutual versus stock insurers. Journal of Financial Intermediation 19 (3): S. 333-354. (Details)
2009 Laux, Christian, Laux, Volker . 2009. Board Committees, CEO Compensation, and Earnings Management. Accounting Review 84 (3): 869-891. (Details)
  Laux, Christian, Walz, Uwe. 2009. Cross-Selling Lending and Underwriting: Scope Economies and Incentives. Review of Finance 13 (2): 341-367. (Details)
  Laux, Christian, Leuz, Christian. 2009. The Crisis of Fair Value Accounting: Making Sense of the Recent Debate. Accounting, Organizations and Society 34 (6-7): 826-834. (Details)
  Finken, Silke, Laux, Christian. 2009. Cat Bonds and Reinsurance: The Competitive Effect of Information-Insensitive Triggers. Journal of Risk and Insurance 76 (3), 579-605. (Details)
2006 Laux, Christian, Laux, Volker. 2006. Performance Measurement and Information Production. Journal of Institutional and Theoretical Economics (Zeitschrift für die gesamte Staatswissenschaft) 162 (3): 412-423. (Details)
2005 Laux, Christian, Inderst, Roman. 2005. Incentives in Internal Capital Markets: Capital Constraints, Competition, and Investment Opportunities. RAND Journal of Economics 36 (1): 215-228. (Details)
2004 Laux, Christian, Probst, Daniel. 2004. One Signal, Two Opinions: Strategic Heterogeneity of Analysts’ Forecasts. Journal of Economic Behavior and Organization 55 45-66. (Details)
2002 Laux, Christian, Hellwig, Martin, Müller, Holger. 2002. Conglomeration: Good, Bad, or Unavoidable?. Schmalenbach Business Review 1 (02): 55-78. (Details)
2001 Laux, Christian. 2001. Delegated Information Acquisition and Capital Budgeting: On the Separation of Project Evaluation and Project Management. Journal of Institutional and Theoretical Economics (Zeitschrift für die gesamte Staatswissenschaft) 157 (4): 591-607. (Details)
  Laux, Christian. 2001. Limited Liability and Incentive Contracting with Multiple Projects. RAND Journal of Economics 32 (3): 514-526. (Details)
  Laux, Christian. 2001. Project Specific External Financing and Headquarters Monitoring Incentives. Journal of Law, Economics and Organization 17 (2): 397-412. (Details)
1997 Laux, Christian. 1997. Projektfinanzierung - Vorteile auch für kapitalkräftige Unternehmen?. Die Betriebswirtschaft (DBW) 57: 840-856. (Details)
1993 Laux, Christian. 1993. Handlungsspielräume im Leistungsbereich des Unternehmens: Eine Anwendung der Optionspreistheorie. Zeitschrift für betriebswirtschaftliche Forschung 45: 933-958. (Details)

Chapter in edited volume

2012 Laux, Christian. 2012. Disclosure, Transparency, and Market Discipline. In: The Crisis Aftermath: New Regulatory Paradigms, Hrsg. M. Dewatripont and X. Freixas, 69-104. London: Centre for Economic Policy Research. (Details)
2005 Laux, Christian. 2005. Integrating Corporate Risk Management. In: Risk Management: Challenge and Opportunity, 2nd Edition, Hrsg. M. Frenkel, U. Hommel, M. Rudolf, 437-453. Berlin: Springer. (Details)
2004 Laux, Christian, Franzke, Stefanie, Grohs, Stefanie. 2004. Initial Public Offerings and Venture Capital in Germany. In: The German Financial System, Hrsg. J.P. Krahnen and R.H. Schmidt, 233-260. Oxford: Oxford Univ. Press. (Details)
  Laux, Christian, Laux, Volker. 2004. Strategische Informationsbeschaffung in Delegationsbeziehungen. In: Wertorientierte Unternehmenssteuerung, Hrsg. R.M. Gillenkirch et al., 133-152. Berlin: Springer. (Details)

Paper presented at an academic conference or symposium

2017 Laux, Christian, Mürmann, Alexander, Lenciauskaite, Giedre. 2017. Foreclosure and Catastrophe Insurance. Annual Meeting of the American Economic Association, Chicago, Vereinigte Staaten/USA, 06.01.-08.01. (Details)
2016 Cziraki, Peter, Laux, Christian, Loranth, Gyöngyi. 2016. Bank Payout Policy, Performance, and Insider Trading in the Financial Crisis of 2007-2009. American Finance Association Meeting, San Francisco, Vereinigte Staaten/USA, 03.01.-05.01. (Details)
  Cziraki, Peter, Laux, Christian, Loranth, Gyöngyi. 2016. Bank Payout Policy, Performance, and Insider Trading in the Financial Crisis of 2007-2009. China International Conference in Finance, Xiamen, China, 07.07.-10.07. (Details)
  Kolm, Julian, Laux, Christian, Loranth, Gyöngyi. 2016. Bank Regulation, CEO Compensation, and Boards. Cambridge Corporate Finance Theory Symposium, Cambridge, Großbritannien, 16.09.-17.09. (Details)
  Laux, Christian, Lenciauskaite, Giedre, Mürmann, Alexander. 2016. Foreclosure and Catastrophe Insurance. 43rd Annual Meeting of the European Group of Risk and Insurance Economists (EGRIE), Nicosia, Zypern, 19.09.-21.09. (Details)
2015 Cziraki, Peter, Laux, Christian, Loranth, Gyöngyi. 2015. Bank Payout Policy, Performance, and Insider Trading in the Financial Crisis of 2007-2009. FDIC-JFSR Annual Bank Research Conference, Arlington (Virginia), Vereinigte Staaten/USA, 17.09.-18.09. (Details)
  Kolm, Julian, Laux, Christian, Loranth, Gyöngyi. 2015. Bank Regulation, CEO Compensation, and Boards. 10th Annual Conference of the Financial Intermediation Research Society (FIRS), Reykjavik, Island, 24.05.-27.05. (Details)
  Laux, Christian, Rauter, Thomas. 2015. Procyclicality of US Bank Leverage. 38th Annual Meeting of the European Accounting Association (EAA), Glasgow, Großbritannien, 28.04. - 30.04. (Details)
  Laux, Christian, Rauter, Thomas. 2015. Procyclicality of US Bank Leverage. Austrian Research Society (ÖFG), Workshop: Accounting, Information, and Financial Crises, Graz, Österreich, 04.11.-05.11. (Details)
2014 Laux, Christian, Rauter, Thomas. 2014. Procyclicality of US Bank Leverage. Basel Committee and Deutsche Bundesbank Joint Conference on "The Interplay of Accounting and Financial Regulation and its Impact on Bank Behaviour", Eltville am Rhein, Deutschland, 16.10. - 17.10. (Details)
  Laux, Christian, Rauter, Thomas. 2014. Procyclicality of US Bank Leverage. 41st Annual Meeting of the European Finance Association (EFA), Lugano, Schweiz, 27.08 - 30.08. (Details)
  Laux, Christian, Rauter, Thomas. 2014. Procyclicality of US Bank Leverage. Barcelona GSE Summer Forum 2014 (Financial Intermediation, Risk and Liquidity), Barcelona, Spanien, 10.06 - 11.06. (Details)
  Laux, Christian, Loranth, Gyöngyi, Morrison, Alan D. 2014. The Adverse Effect of Information on Governance and Leverage. 41st Annual Meeting of the European Finance Association (EFA), Lugano, Schweiz, 27.08-30.08. (Details)
2013 Georgescu, Oana, Laux, Christian. 2013. Financial Reporting, Financial Regulation, and Financial Stability: Evidence from German Bank Failures in 2007-2008. GSE Summer Forum, Barcelona, Spanien, 19.06.-20.06. (Details)
  Laux, Christian, Loranth, Gyöngyi, Morrison, Alan D. 2013. The Adverse Effect of Information on Governance and Leverage. SAFE Workshop on Transparency, Frankfurt, Deutschland, 04.10.-05.10. (Details)

Working/discussion paper, preprint

2014 Kolm, Julian, Laux, Christian, Loranth, Gyöngyi. 2014. Regulating Bank CEO Compensation and Active Boards. (Details)
  Laux, Christian, Loranth, Gyöngyi, Morrison, Alan D. 2014. The Adverse Effect of Internal Control on Governance and Leverage. (Details)
2013 Georgescu, Oana , Laux, Christian. 2013. Financial Reporting, Financial Regulation, and Financial Stability: Evidence from German Bank Failures in 2007-2008. (Details)
2008 Laux, Christian. 2008. Corporate Insurance Design with Multiple Risks and Moral Hazard. (Details)
  Laux, Christian. 2008. Should a Bank Retain the Equity Tranche? – A Note on Securitization and Moral Hazard. (Details)
2005 Laux, Christian. 2005. Insurance, Risk Management, and Cost of Capital. (Details)

Magazine/newspaper article

2007 Laux, Christian. 2007. Versicherungen? Das ist doch was für Pessimisten. Kapitalanlagestrategien, Vernichten Versicherer Unternehmenswert durch eine zu vorsichtige Anlagepolitik?. Zeitschrift für Versicherungswesen, (Details)
2005 Laux, Christian, Bloos, Uwe-Wilhelm, Kiep, Walther. 2005. Integriertes Risikomanagement. Management¬kompass Risikomanagement, Steria Mummert Consulting und F.A.Z.-Institut, 01.03. (Details)

Unpublished lecture

2016 Laux, Christian. 2016. Accounting terminology and IFRS 9. ESRB Task Force IFRS 9, Frankfurt, 24.06. (Details)
  Laux, Christian, Leuz, Christian. 2016. Accounting standards and financial stability - hindrance or help? ECB Conference on Accounting, Financial Reporting and Corporate Governance for Central Banks, Frankfurt, 03.06. (Details)
  Laux, Christian, Rauter, Thomas. 2016. Procyclicality of US Bank Leverage. Verein für Socialpolitik, Ausschuss für Unternehmenstheorie und -politik, Bonn, 22.04. (Details)
  Laux, Christian. 2016. Accounting and financial stability - IFRS 9 from a macroprudential standpoint. European Systemic Risk Board (ESRB) Advisory Scientific Committee Meeting, Frankfurt, 03.03. (Details)
2014 Kolm, Julian, Laux, Christian, Loranth, Gyöngyi. 2014. Bank Regulation, CEO Compensation, and Boards. Financial Intermediation Theory (FIT) Workshop, London, 30.05. (Details)
  Laux, Christian. 2014. Financial Reporting and Financial Stability. ECGI Law and Finance Seminar Series, Transparency and Disclosure, London, 05.05. (Details)
  Laux, Christian, Loranth, Gyöngyi, Morrison, Alan D. 2014. The Adverse Effect of Information on Governance and Leverage. Verein für Socialpolitk, Ausschuss für Unternehmensrechnung, Graz, 24.04. (Details)

Projects

2014
PhD Programm: Vienna Graduate School of Finance (2014-2017) (Details)
2011
PhD Programm: Vienna Graduate School of Finance (2011-2014) (Details)