s/bf-HSG News June 2022

With this newsletter we would like to inform you about the latest news and developments at the Swiss Institute of Banking and Finance.



Prof. Dr. Markus Schmid was appointed Associate Editor of Management Review Quarterly, published by Springer.

Prof. Dr. Tereza Tykvová gave her inaugural lecture on "Private Equity: Locusts or Honeybees?" on March 29, 2022.  

The Annual Meeting of the Swiss Society for Financial Market Research (SGF) was organized by the s/bf-HSG for the fourth time in 2022. Due to the ongoing Corona pandemic, the event on April 7 and 8, 2022, had to be held again as a web conference. Professors Martin Brown, Roland Füss and Markus Schmid co-chaired the conference. Out of 331 submitted papers of generally very high academic quality, 44 excellent contributions were selected for inclusion in the program. The s/bf-HSG will also organize the 2023 SGF conference, which will be held in Zurich on March 31, 2023.
The SIX Best Paper Award 2022, sponsored by SIX Swiss Exchange, was awarded to Mark Jansen (University of Utah), Fabian Nagel (University of Chicago), Constantine Yannelis (University of Chicago), and Anthony Lee Zhang (University of Chicago) for the paper "Data and Welfare in Credit Markets". 

Save the Date: Opening ceremony of the Center for Financial Services Innovation (FSI-HSG). Topic: "Innovation in der Finanzbranche: Disruption oder Evolution". Tuesday, November 22, 2022, in the new teaching building "SQUARE" of the University of St.Gallen.

On April 1, 2022, the Managing Director of the newly founded HSG Center for Financial Services Innovation (FSI-HSG), Dr. Tobias Trütsch, officially started his work. The Center is affiliated with the s/bf-HSG. Before joining the FSI-HSG, Tobias Trütsch worked as a program director of executive programs for politicians and public affairs staff and was head of the Economics Department at the Executive School of the HSG. His research focuses on the economics of payments and money, with particular emphasis on innovative payment products and individual payment behavior.

Prof. Vesa Pursiainen was the recipient of the EUROFIDAI Data Award (best paper using daily data) 2021 for the paper "Cultural Biases in Equity Analysis", published in the Journal of Finance.
Prof. Dr. Kathleen Kürschner Rauck received the Dissertation Award 2021 of the Faculty of Economics and Management, Otto von Guericke University Magdeburg, for her doctoral thesis "Essays on Population and Housing Economics".
The ZKB Best Paper Award was presented to Nadia Balemi, Roland Füss, and Alois Weigand for their article "COVID-19’s Impact on Real Estate Markets: Review and Outlook", published in Financial Markets and Portfolio Management.


Is There a Value Premium in Cryptoasset Markets? L. J. Liebi (2022), Economic Modelling, 109. 105777.
Regional Social Capital and Moral Hazard in Crowdfunding. T.-C. Lin, V. Pursiainen (2022), Journal of Business Venturing, 37.
The Disutility of Stock Market Losses: Evidence from Domestic Violence. T.-C. Lin, V. Pursiainen (2022), Review of Financial Studies, forthcoming.
Estimating Forward-Looking Stock Correlations from Risk Factors. W. Schadner, J. Traut (2022), Mathematics, 10(10), 1649.

Agency Costs of Dry Powder in Private Equity Funds. M. Lambert, A. Scivoletto, T. Tykvová, School of Finance Working Paper, University of St.Gallen. 
FX Liquidity Risk and Carry Trade Premia. P. Söderlind, F. Somogyi, School of Finance Working Paper 2022/02, University of St.Gallen.

CEO Turnover and Director Reputation. F. von Meyerinck, J. Romer, M. Schmid. American Finance Association (AFA) Annual Meetings 2022, (Virtual) Boston, 6-9 January 2022.
- Industry Conditions and Value Creation in M&As. T. Tykvová. FMARC 2022, 19-21 June 2022.


In spring 2022, we offered the intensive course "Fit for Sustainable Finance" for the first time. The special focus of this course is on practical applicability in addition to the teaching of theoretical concepts. Participants learn how sustainability and financial markets interact and which practical implications in banking, investment management, risk management, etc. are associated with this. Furthermore, participants can choose flexibly between the in-person attendance and online participation. In addition, there is an one-hour online Q&A session on each topic.

The popular lecture series "
Fit for Finance" will start again as an intensive course in fall 2022. Participants will learn how financial markets work and what practical implications this has for investment advice, financial analysis, risk management, etc. Due to its thematic focus, the course forms an optimal basis for further certificates, especially for the CFA®.

The "Workshop on ESG and Sustainable Investing" in cooperation with ESG industry experts from Inrate, Pictet, Vontobel and ZKB was successfully held for the first time in spring 2022. The course combines the latest academic findings with in-depth industry experience on various topics in the field of ESG and Sustainable Finance, such as ESG ratings and data issues, regulatory challenges and certification, the sustainable investment product space, the performance of sustainable investments, and the impact of sustainable investments. Participation in the course is possible both via classroom sessions in Zurich and online.


- LSE Business Review, 19 January 2022. Investor Experience and Information do not Discourage Asset Price Bubbles. A. Kopányi-Peuker, M. Weber.

Swiss Money Map 2022: A Cash Atlas for Switzerland is a joint project of Dr. Tobias Trütsch (Managing Director FSI-HSG) and Prof. Dr. Martin Brown (Director of the Study Center Gerzensee and adjunct Professor of Financial Economics at the University of St.Gallen).
The use of cash has been declining in Switzerland for some time. Nevertheless, cash remains an important means of payment and store of value. For this reason, it is important for many Swiss people to be able to withdraw and deposit cash easily. The newly published HSG study "Swiss Money Map" shows how and where to access cash.
Video: Swiss Money Map 2022: Ein Bargeldatlas für die Schweiz - YouTube
Study: T. Trütsch (2022). Swiss Money Map 2022: A Spatial Analysis of Cash Access Points in Switzerland, University of St.Gallen.

Should you have any questions or suggestions regarding the s/bf-HSG Newsletter please send an e-mail to:
Beatrix Kobelt.

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Beatrix Kobelt.

Juni 2022