CHRISTOPH SCHNEIDER University of Mannheim L9, 1-2, Room 308 68131 Mannheim Germany Phone: +49 621 181 1949 E-Mail: [email protected] ACADEMIC POSITIONS 2012 - 2013 Assistant Professor of Finance (Visiting), University of Michigan 2010 - present Assistant Professor of Finance (Akademischer Rat), University of Mannheim EDUCATION 2004 - 2009 University of Mannheim Ph.D. in Finance (summa cum laude) Committee: Ernst Maug (Primary Advisor), Holger Daske, Enno Mammen 2001 - 2004 Humboldt-University Berlin M.A. in Economics and Management Science 2002 - 2003 University of California at Berkeley EAP Reciprocity Student 1999 - 2001 Humboldt University Berlin Vordiplom (intermediate examination) in Economics, RESEARCH INTEREST Corporate Finance, Corporate Governance, and Behavioral Finance PUBLISHED PAPERS “Conglomerate Investment, Skewness, and the CEO Long Shot Bias”, with Oliver Spalt, Journal of Finance, 2016, 71, 635-672 “Acquisitions as Lotteries: The Selection of Target-Firm Risk and its Impact on Merger Outcomes”, with Oliver Spalt, Critical Finance Review, forthcoming “Bankers on the Boards of German Firms: What they do, what they are worth, and why they are (still) there”, with Ingolf Dittmann and Ernst Maug, Review of Finance, 2010, 14, 35-71 “How Preussag became TUI: A Clinical Study of Institutional Blockholders and Restructuring in Europe”, with Ingolf Dittmann and Ernst Maug, Financial Management, 2008, 37, 571-598 WORKING PAPERS “Trading Strategies of Corporate Insiders”, with Olga Lebedeva and Ernst Maug, revise and resubmit at the Journal of Financial Markets “Labor Representation in Governance as an Insurance Mechanism”, with E. Han Kim and Ernst Maug “Why Does Size Matter So Much for Bidder Announcement Returns”, with Oliver Spalt “Stealth Trading of Corporate Insiders”, with Olga Lebedeva and Ernst Maug WORK IN PROGRESS “Wages of Workers When They Envy their CEO”, Ingolf Dittmann and Yuhao Zhu “Gambling for Resurrection, Risk-Shifting, and Corporate Investment”, with Oliver Spalt “The Impact of Family Friendly Policies on Gender Disparity in Firms”, with Vidhi Chhaochharia and Alexandra Niessen-Ruenzi PRESENTATIONS (* DENOTES PRESENTATION BY CO-AUTHOR) 2016: WFA (Park City) (scheduled), SSE/SHoF Corporate Finance Symposium (Stockholm) (scheduled), Tilburg University (scheduled), University of Cologne, KLU Hamburg 2015: University of Michigan, German Finance Association (Leipzig) 2014: AFA (Philadelphia)*, Rothschild Caesarea Center 11th Annual Conference (Herzliya), EFA (Lugano), German Finance Association (Karlsruhe) 2013: UNC-Duke Corporate Finance Conference (Chapel Hill), Singapore International Conference on Finance, CEPR Corporate Finance (Gerzensee), China International Conference in Finance (Shanghai), CSEF Conference on Finance and Labor (Capri), University of Michigan, AFA (San Diego)* 2012: SFS Cavalcade (Virginia/Darden), FIRS Conference (Minneapolis), University of Bonn, University of Michigan, FMA Conference (Atlanta), FMA European Conference (Istanbul), European Financial Management Association (Barcelona), Behavioral Finance Working Group/M&A Centre Conference (Cass Business School), Campus for Finance Research Conference (WHU), Council on Business and Society Forum (Paris) 2011: Campus for Finance Research Conference (WHU) (2 papers), Conference on Financial Economics and Accounting (Indiana University), European Financial Management Association (Braga) (2 papers), International Paris Finance Meeting, LMU München, Symposium on Finance, Banking, and Insurance (Karlsruhe) 2010: German Finance Association (Hamburg), Inaugural Miami Behavioral Finance Conference*, SFB/TR 15 Conference (Caputh) 2009: Corporate Governance Research Conference (Harvard)*, German Finance Association (Frankfurt), SFB/TR 15 Conference (Caputh) 2008: Deutsche Bundesbank (Frankfurt), ECGI Best Paper on Corporate Governance Competition (Oxford and Stockholm)*, International Conference on Corporate Governance (Birmingham), Universitat Autònoma de Barcelona, SFB/TR 15 Conference (Gummersbach), Understanding Corporate Governance Conference (Madrid)* 2007: Campus for Finance Research Conference (WHU), Corporate Governance Workshop (Mannheim), ENTER-Jamboree (Mannheim) 2006: German Economic Association for Business Administration (Bielefeld), German Finance Association (Oestrich-Winkel)* 2005: German Finance Association (Augsburg), Humboldt University Berlin, Money Macro and Finance Research Group (Rethymno) 2004: JFE-ECGI Clinical Paper Competition (Stockholm)* GRANTS 2015 Grant from Deutsche Forschungsgemeinschaft (DFG), Project: Corporate Finance and Human Capital Risk, with Jörg Heining and Ernst Maug, Grant size: €300,600 SCHOLARSHIPS AND AWARDS 2012 Winner of the Larry Lang Corporate Finance Best Paper Award at the EFMA, with Oliver Spalt for “Conglomerate Investment, Skewness, and the CEO Long Shot Bias” 2012 Nominated for the FMA Annual Meeting Best Paper Award in Corporate Finance, with Oliver Spalt for “Conglomerate Investment, Skewness, and the CEO Long Shot Bias” 2011 Nominated for the WRDS Conference Best Paper Award and the Larry Lang Corporate Finance Best Paper Award at the EFMA, with Oliver Spalt for “Acquisitions as Lotteries” 2010 Nominated for the Deutsche Bank Prize in Financial Economics - Review of Finance Best Paper Award, with Ernst Maug and Ingolf Dittmann for “Bankers on the Boards of German Firms” 2008 Winner of the ECGI Best Paper Competition and Highly Commended Paper Award, International Conference on Corporate Governance, Birmingham, with Ernst Maug and Ingolf Dittmann for “Bankers on the Boards of German Firms” 2008 Student Travel Award, American Finance Association 2005 Best Paper Award, German Finance Association, annual conference, with Ernst Maug and Ingolf Dittmann for “How Preussag became TUI“ 2004 Third Price in the JFE-ECGI Clinical Paper Competition, with Ernst Maug and Ingolf Dittmann for “How Preussag became TUI“ 2004 - 2006 DekaBank Doctoral Dissertation Scholarship 2002 - 2003 Fulbright Travel Grant TEACHING Spring 2016 Corporate Finance - Mergers and Acquisitions (Lecture) Fall 2015 Corporate Finance - Company Valuation (Lecture & Tutorial) Spring 2015 Corporate Finance - Mergers and Acquisitions (Lecture) Fall 2014 Corporate Finance - Company Valuation (Lecture & Tutorial) Spring 2014 Corporate Finance - Mergers and Acquisitions (Lecture) Fall 2013 Valuation (MBA) Spring 2013 Corporate Finance - Seminar Fall 2012 Valuation (MBA) Spring 2012 Corporate Finance - Mergers and Acquisitions (Lecture) Fall 2011 Corporate Finance - Company Valuation (Lecture), Corporate Finance Seminar for Master’s students, Executive MBA Corporate Finance (Tutorial) Spring 2011 Corporate Finance - Mergers and Acquisitions (Lecture) Fall 2010 Corporate Finance - Company Valuation (Lecture), Executive MBA Corporate Finance (Tutorial) Spring 2010 Corporate Finance - Mergers and Acquisitions (Lecture), Introduction to Corporate Finance (Tutorial) Fall 2009 Corporate Finance - Mergers and Acquisitions (Lecture), Executive MBA Corporate Finance (Tutorial) Spring 2009 Introduction to Corporate Finance (Lecture & Tutorial), Corporate Finance Company Valuation (Tutorial) Spring 2008 Corporate Finance - Company Valuation (Tutorial) Fall 2007 Introduction to Corporate Finance (Lecture & Tutorial) Spring 2007 Corporate Finance - Company Valuation (Tutorial) Spring 2006 Corporate Finance - Company Valuation (Tutorial) Supervision of 30+ Bachelor and Master’s thesis in Corporate Finance PROFESSIONAL SERVICES REVIEWER: European Finance Association Meetings 2010, 2015, 2016 German Finance Association 2010, 2011, 2014, 2015 SFS Finance Cavalcade 2012 Rothschild Caesarea Center Conference 2015, 2016 DISCUSSANT: Campus for Finance (2007, 2011, 2012), China International Conference in Finance (2013), DEMO Workshop Universitat Autònoma de Barcelona (2008), European Finance Association (2013), European Financial Management Association (2011, 2012), FMA European Conference (2012), Financial Management Association (2012), German Finance Association (2009, 2010, 2014, 2015), International Paris Finance Meeting (2011), SFB/TR 15 Conference (2008), Symposium on Finance, Banking, and Insurance (2011) REFEREE: Journal of Finance, Review of Financial Studies, Review of Finance, Journal of Banking and Finance, European Accounting Review, Journal of Institutional and Theoretical Economics, Schmalenbach Business Review, Review of Management Science, Quarterly Review of Economics and Finance, Journal of Empirical Finance, Industrial Relations, Zeitschrift für betriebswirtschaftliche Forschung, Die Betriebswirtschaft (DBW) SELECTED MEDIA COVERAGE Financial News, 27 July 2015: “Taking a punt: CEOs and high risk gambles” De Telegraaf, 21 July 2015: “CEOs Take Too Many Decisions Based on Gut Feeling” (in Dutch) Energeia, 21 July 2015: “CEOs Like to Take a Gamble in Investing” (in Dutch) Het Finacieele Dagblad, 21 July 2015: “Top Managers are Gambling with Shareholder’s Money” (in Dutch) Reformatorisch Dagblad, 20 July 2015: “CEOs invest with too much gut feeling” (in Dutch) Brabants Dagblad, 20 July 2015: “CEOs are Gambling with Shareholder’s Money” (in Dutch) dpa (German Press Agency), July 2015: “Aktienrückkäufe von Unternehmen sind umstritten” SWR2 (Kulturthema), 1 July 2015: “Nicht nur für fromme Muslime” Handelsblatt (Global Edition), 24 April 2015: “Deutsche Bank’s Next Act” The Daily Telegraph, 5 June 2008: “Germans get little reward from having banks on board” Financial Times Deutschland, 7 May 2008: “Frenzels Netz” Economist, 1 May 2008: “European boards: Money spinners” €URO, 23 April 2008: “Nöte in Nadelstreifen” Handelsblatt, 14 April 2008: “Banker im Aufsichtsrat richten Schaden an” Handelsblatt, 7 March 2008: “Tust du mir nichts, Tui ich dir nichts” Handelsblatt, 30 October 2007: “Wyser-Pratte fordert Frenzels Abgang” Handelsblatt, 28 September 2007: “Wyser-Pratte will Frenzel kippen” Neue Presse, 3 January 2007: “TUI zerstörte Firmenwerte” Neue Züricher Zeitung, 28 December 2006: “TUI und der fatale Hang zur Grösse” FAZ.net, 15 December 2006: “Tui dürfte weiter unter Druck bleiben” Frankfurter Allgemeine Zeitung, 13 December 2006: “Außer Kontrolle – wie TUI sich durch die Krise wurstelt” Handelsblatt, 10 May 2005: “Am Ende ist alles eine Frage des Preises” boerse.ARD.de, 25 April 2005: “TUI: Nichts als Wertvernichtung?” Capital, 18 April 2005: “’Unfaire Rechnung’: TUI-Chef Michael Frenzel über den Konzernumbau, sein Gehalt und die Internetrevolution im Reisegeschäft“ REFERENCES Prof. Ernst Maug University of Mannheim +49 621 181 1952 [email protected] Prof. Ingolf Dittmann Erasmus University Rotterdam +31 10 408 1283 [email protected] Prof. E. Han Kim University of Michigan +1 734 764 2282 [email protected]
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