Prof. Dr. Wolfgang Bessler
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Senior Professor
Deutsche Börse Senior Professor of Empirical Capital Market Research
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Short Biography
Wolfgang Bessler is the Deutsche Börse Senior Professor of Empirical Capital Market Research at the University of Hamburg and a member of the Center for Financial Studies at the University of Frankfurt. He is also an Emeritus Professor of Finance and Banking at the Justus-Liebig University Giessen. Before he was a Professor of International Financial Management at the University of Hamburg, a Professor of Financial Markets and Institutions at Rensselaer Polytechnic Institute, in Troy, N.Y., and a Visiting Professor of Finance at Syracuse University, N.Y., U.S.A. He received his Ph.D. from the University of Hamburg, an M.B.A. from McGill University in Montreal and Bachelor and Master Degrees in Business Administration and Education from the University of Hamburg. Wolfgang is currently a member of the Advisory Board of the Private Institute for Quantitative Capital Market Research at Deka Investment, a member of the European Shadow Financial Regulatory Committee and a board member of the Multinational Finance Society. He published his research in leading international academic journals such as Review of Finance, Journal of Banking and Finance, Journal of Financial Stability, Journal of Corporate Finance and European Journal of Operational Research. Wolfgang has organized a number of international conferences and has presented more than 400 papers at international conferences.
Advisory Board and Associate Editor
Wolfgang Bessler is a member of advisory and editorial boards of the following international academic journals.
Research Areas and Selected Publications
Wolfgang Bessler’s three major research areas are Corporate Finance & Corporate Governance, Asset Management & Derivatives, and Financial Markets & Institutions. Below is a list of his books and of ten selected articles for each of the three research areas.
Recent Publications
Does Corporate Hedging Enhance Shareholder Value? A Meta-Analysis, with T. Conlon and Xing Huan, International Review of Financial Analysis 23, 2019, 196-221.
Do Mergers and Acquisitions Increase Default Risk? Evidence from the European Market, with H. Steenbeck and W. Westerman, Central European Review of Economics and Management 3, 2019, 7-51.
Stock Market Reactions to Financing and Payment Decisions for European Mergers and Acquisitions, with D. Kruizenga and W. Westerman, Central European Review of Economics and Management 4, 2020, 41-89.
Passive Investments, with H. Hockmann, in: Investment Banking, H. Hockmann and F. Thiessen (eds.), 2021, 357-380.
The 2020 European Short-Selling Ban and the Effects on Market Quality, with M. Vendrasco, Finance Research Letters 42, 2021, 101886.
The Global Financial Crisis and Stock Market Migrations: An Analysis of Family and Non-Family Firms in Germany, with J. Beyenbach, M.-S. Rapp, M. Vendrasco, International Review of Financial Anaysis 74, 2021, 101692.
Optimal Asset Allocation Strategies for International Equity Portfolios: A Comparison of Country versus Industry Optimization, with G. Taushanov, D. Wolff, Journal of International Financial Markets, Institutions & Money 72, 2021, 101343.
Factor-Investing and Asset Allocation Strategies: A Comparison of Factor versus Sector Optimization, with G. Taushanov, D. Wolff, Journal of Asset Management 22, 2021, 488-506.
Strategien zur nachhaltigen Finanzierung der Zukunft Deutschlands. Die Leistungsfähigkeit unseres Kapitalmarktes: Was wir tun müssen, um das Potenzial zu nutzen, with T. Book, Deutsche Börse Whitepaper, 2021. Die Studie ist hier verfügbar.