Research

RESEARCH

Research Interests: Banking, Financial Intermediation

PUBLICATIONS & FORTHCOMING PAPERS

• Puri, M., J. Rocholl, and S. Steffen, 2010, “Global Retail Lending in the Aftermath of the US Financial Crisis: Distinguishing between Demand and Supply Effects”, Journal of Financial Economics, forthcoming.
- Best paper award (2nd price) "Business Models in Banking: Is there a Best Practice"

• Bosch, O., and S. Steffen, 2010, “On Syndicate Composition, Corporate Structure and the Certification Effect of Credit Ratings”, Journal of Banking and Finance, 35 (2011) 290 - 299.
- South Western Finance Association (SWFA) Best Paper in International Finance (San Diego, 2007)

WORKING PAPERS
(Available at http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=403217 )

• Saunders, A., and S. Steffen, 2010, “The Costs of Being Private: Evidence from the Loan Market", Review of Financial Studies, (being revised for resubmission to 3rd round).
AEA 2010, WFA 2010 and EFA 2009 Paper
Online Appendix, Slides

• Cai, J., A. Saunders, and S. Steffen, 2010, "Diversification or Specialization? An Analysis of Distance and Collaboration in Loan Syndication Networks". (submitted)

• Puri, M., J. Rocholl, and S. Steffen, 2010, “On the importance of prior relationships in bank loans to retail customers”.

• Puri, M., J. Rocholl, and S. Steffen, 2009, “On the Role of Information, In-person Contact, and Relationships in Mitigating Discrimination in Bank Lending”.

• Fischer, M., C. Hainz, J. Rocholl, and S. Steffen, 2010, "Government Guarantees and Risk Taking Incentives“. (COMING SOON)

• Hackethal, A., C. Rauch, S. Steffen, and M. Tyrell, 2010, “On the Determinants of Bank Liquidity Creation”. (submitted)

• Steffen, S., and M. Wahrenburg, 2008, “Syndicated Loans, Lending Relationships and the Business Cycle”.

WORK IN PROGRESS

• Puri, M., J. Rocholl, and S. Steffen, 2010, “On the Use of Soft Information in Bank Lending Decisions”.

OTHER PUBLICATIONS

• Schmidt, D., F. Szabo, and S. Steffen, 2010, “Exit Strategies of Buyout Investments – An Empirical Analysis”, Journal of Alternative Investments, Spring 2010, Vol. 12, No. 4, 58-84.

• Schmidt, D., F. Szabo, and S. Steffen, 2007, "Exit Strategien von Buyout-Investments”, Absolut|report, 2007, S. 26-31.

MONOGRAPHS AND CHAPTERS

“The Role of Private Information in Financial Contracting - Evidence from the Syndicated Loan Market”. Unpublished Dissertation.

“Funktionen und Einsatz von Finanzderivaten“ (with U. Schuewer), in: Jean-Claude Zerey (Edt.) (2008, 2009): Außerbörsliche (OTC) Finanzderivate, Nomos.