Publications Prof. Markus Schmid Publications in refereed journals 2018 Does Price Fixing Benefit Corporate Managers?, Management Science, forthcoming (co-authored with T. Artiga Gonzalez and D. Yermack). 2018 Financial Advice and Bank Profits, Review of Financial Studies, forthcoming (co-authored with D. Hoechle, S. Ruenzi, and N. Schaub). 2018 Settling the Staggered Board Debate, University of Pennsylvania Law Review, forthcoming (co-authored with Y. Amihud and S. Davidoff Solomon). 2018 Industry Expert Directors, Journal of Banking and Finance 92, 2018, 195-215 (co-authored with W. Drobetz, D. Oesch, and F. von Meyerinck). 2017 The Impact of Financial Advice on Trade Performance and Behavioral Biases, Review of Finance 21(2), 2017, 871-910 (co-authored with D. Hoechle, S. Ruenzi, and N. Schaub). 2016 Is Director Industry Experience Valuable?, Financial Management 45(1), 2016, 207-237 (co-authored with F. von Meyerinck and D. Oesch). 2013 Product Market Competition, Corporate Governance, and Firm Value: Evidence from the EU-Area, European Financial Management, 19(3), 2013, 452-469 (co-authored with M. Ammann and D. Oesch). 2013 Hedge Fund Characteristics and Performance Persistence, European Financial Management, 19(2), 2013, 209-250 (co-authored with M. Ammann and O. Huber). 2013 Hedge Fund Liquidity and Performance: Evidence from the Financial Crisis, Journal of Banking and Finance 37(3), 2013, 671-692 (co-authored with N. Schaub). 2012 Risk Management, Corporate Governance, and Bank Performance in the Financial Crisis, Journal of Banking and Finance, 36(12), 2012, 3213-3226 (co-authored with V. Aebi and G. Sabato). 2012 Geographical Diversification and Firm Value in the Financial Sector, Journal of Empirical Finance, 19(1), 2012, 109-122 (co-authored with I. Walter). 2012 Is there Really no Conglomerate Discount?, Journal of Business Finance and Accounting, 39(1-2), 2012, 264-288 (co-authored with M. Ammann and D. Hoechle). 2012 How Much of the Diversification Discount Can be Explained by Poor Corporate Governance?, Journal of Financial Economics 103(1), 2012, 41-60 (co-authored with D. Hoechle, I. Walter, and D. Yermack). 2011 Product Market Competition, Managerial Incentives, and Firm Valuation, European Financial Management 17(2), 2011, 331-366 (co-authored with S. Beiner and G. Wanzenried). 2011 Has Hedge Fund Alpha Disappeared?, Journal of Investment Management 9(1), 2011, 50-71 (co-authored with M. Ammann and O. Huber). 2011 Corporate Governance and Firm Value: International Evidence, Journal of Empirical Finance 18(1), 2011, 36-55 (co-authored with M. Ammann and D. Oesch). 2009 Ownership Structure and the Separation of Voting and Cash Flow Rights – Evidence from Switzerland, Applied Financial Economics 19(18), 2009, 1453-1476. 2009 Do Financial Conglomerates Create or Destroy Economic Value?, Journal of Financial Intermediation 18(2), 2009, 193-216 (co-authored with I. Walter). 2009 The Performance Persistence of Equity Long/Short Hedge Funds, Journal of Derivatives and Hedge Funds (formerly Derivatives Use, Trading & Regulation) 15(1), 2009, 51-69 (co-authored with S. Manser). 2009 Trust and Success in Venture Capital Financing – An Empirical Analysis with German Survey Data, Kyklos 62(1), 2009, 15-43 (co-authored with S. Duffner and H. Zimmermann). 2008 The First- and Second-Hand Effect of Analysts' Stock Recommendations – Evidence from the Swiss Stock Market, European Financial Management 14(5), 2008, 962-988 (co-authored with P. Schlumpf and H. Zimmermann). 2008 Should Chairman and CEO Be Separated? Leadership Structure and Firm Performance in Switzerland, Schmalenbach Business Review 60(2) (Zeitschrift für Betriebswirtschaftliche Forschung), 2008, 182-204 (co-authored with H. Zimmermann). 2007 Estimating the Cost of Executive Stock Options: Evidence from Switzerland, Corporate Governance: An International Review 15(5), 2007, 798-815 (co-authored with W. Drobetz and P. Pensa). 2007 Feasible Momentum Strategies – Evidence from the Swiss Stock Market, Financial Markets and Portfolio Management 21(3), 2007, 325-352 (co-authored with D. Rey). 2006 An Integrated Framework of Corporate Governance and Firm Valuation, European Financial Management 12(2), 2006, 249-283 (co-authored with S. Beiner, W. Drobetz and H. Zimmermann).