Wirtschaftswissenschaftliche Fakultät

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Dr. Martin Rohleder


rohleder

Akad. Rat

E-Mail: martin.rohleder@wiwi.uni-augsburg.de
Telefon: +49 821 598 4120
Fax: +49 821 598 4223
Raum: 2204
Sprechzeiten: Mentorenstunde, Dienstag 14.00-15.00 Uhr
Hausanschrift: Universitätsstr. 16
86159 Augsburg


Research area

Performance Analysis, Applied Capital Market Theory, Empirical Finance

Short biography

  • 2011: Doctorate in finance (Dr. rer. pol.)
  • 2007-2011: Research associate and doctoral candidate, Catholic University of Eichstätt-Ingolstadt
  • 2007:  Diploma in Business Administration
  • 2002-2007: Studies in Business Administration, Catholic University of Eichstätt-Ingolstadt, Warsaw School of Economics (Poland), Stellenbosch University (South Africa)
  • 2000-2002: Banking Apprenticeship, Frankfurter Sparkasse 1822, Degree: “Bankkaufmann”

Working Paper

  • Bond Fund Performance: Does Management Activity Pay?
    Working Paper, Augsburg (2017), Reference in online article,
    Abstract and Download
  • Diseconomies of Scale, Information Processing and Hierarchy Costs: Evidence from Asset Management. 
    Working Paper, Augsburg (2017) with Richard B. Evans, Hendrik Tentesch and Marco Wilkens
    Abstract and Download
    Accepted for presentation:
    • 25. Jahrestagung der Deutschen Gesellschaft für Finanzwirtschaft (DGF) 2017, Trier University, Germany, September 21-22, 2018.
    • FMA European Conference 2018, Kristiansand, Norway, June 13 - 15, 2018.
    • Eastern Finance Association 2018 Annual Meetings, Philadelphia, USA, April 11-14, 2018.
    • Southern Finance Association Annual Meeting 2017, Key West, November 15-18, 2017. 
    • HVB PhD Workshop 2017, Riederau, May 25-27, 2017.
  • Carbon Risk. 
    Working Paper, Augsburg (2017) with Maximilian Görgen, Andrea Jacob, Martin Nerlinger, Ryan Riordan and Marco Wilkens.
    Winner of the Best Paper Award of the Southwestern Finance Association Conference 2018.
    Winner of the Highest Impact Award of the Green Summit 2017 in Liechtenstein.
    Abstract and Download
    Accepted for presentation:
    • GOR AG FIFI Workshop 2017, Magdeburg, March 29-30, 2017.
    • Green Summit University of Liechtenstein, VaduzMay 23, 2017. (Highest Impact Award)
    • Jahrestagung der Deutschen Gesellschaft für Finanzwirtschaft (DGF) 2017, Ulm University, Germany, October 06-07, 2017.
    • Vietnam Symposium in Banking and Finance 2017, Ho Chi Minh City, Vietnam, October 26-28, 2017.
    • IFABS Asia 2017 Ningbo China Conference, Ningbo, China, August 31 - September 02, 2017.
    • Workshop Central Banking and Green Finance 2017, Amsterdam, November 28-29, 2017.
    • Midwest Finance Association 2018 Annual Meeting, San Antonio, USA, March 01-03, 2018.
    • Eastern Finance Association 2018 Annual Meetings, Philadelphia, USA, April 11-14, 2018.
    • Southwestern Finance Association Annual Meeting, Albuquerque, New Mexico, USA, March 07-10, 2018.
    • 45th European Finance Association Annual Meeting, Warsaw, Poland, August 22-25, 2018.
    • NAMA 2018, Augsburg, Germany, October 04-05, 2018.
    • 2019 American Economic Association Meetings, Atlanta, Georgia, January 04-06, 2019.
  • Duration-adjusted bond fund performance. 
    Working Paper, Augsburg (2016) with Marco Wilkens and Markus Natter
    Abstract and Download
    Accepted for presentation:
    • 2017 FMA European Conference, Lisbon, Portugal, June 22-23, 2017.
    • World Finance Conference, Cagliari University, Sardinia, Italy, July 26 - 28, 2017.
    • 4th European Retail Investment Conference, Stuttgart, Germany, May 17-19, 2017.
    • 79. Jahrestagung des VHB, St. Gallen, June 07-09, 2017.
    • Jahrestagung der Deutschen Gesellschaft für Finanzwirtschaft (DGF) 2017, Ulm University, Germany, October 06-07, 2017.
  • Luck bias and skill performance of individual mutual funds.
    Working Paper, Augsburg (2013) with Marco Wilkens.
    Abstract and Download
    Accepted for presentation:
    • 63rd Midwest Finance Association Annual Meeting, Orlando, March 5-8, 2014.
    • 53rd Southwestern Finance Association Annual Meeting, Dallas, March 12-15, 2014.
    • 2014 FMA European Conference, Maastricht, June 11-13, 2014.
    • IFABS 2014 Conference, Lisbon, June 18-20, 2014.
    • Southern Finance Association Annual Meeting 2014, Key West, November 19-22, 2014.

Publications

Articles in refereed journals

  • Success and failure on the corporate bond fund market
    Journal of Asset Management, 2018, 19(6), 429-443. (with Hendrik Scholz and Marco Wilkens)
    Abstract and Download
  • Jensen's Alpha and the Market Timing Puzzle.
    Review of Financial Economics, forthcoming. (with Sebastian Bunnenberg, Hendrik Scholz and Marco Wilkens.)
    Abstract and Download
  • Mutual Fund Stock Picking Skill: New Evidence from Valuation- versus Liquidity-Motivated Trading.
    Financial Management 2018, 47(2), 309-347. (with Dominik Schulte, Janik Syryca, and Marco Wilkens)
    Top 3 Paper of the summer of the Journal Financial Management 2018
    Abstract and Download

  • Bond Mutual Funds and Complex Investments. Journal of Asset Management, 2017, 18(6), 433-456. (with Markus Natter, Martin Rohleder, and Dominik Schulte)
    Abstract and Download

  • Systemic Interest Rate and Market Risk at U.S. Banks.
    Journal of Business Economics, (2016) 86, 933-961. (with Ludwig von la Hausse and Marco Wilkens)
    Abstract and Download

  • The Benefits of Option Use By Mutual Funds
    Journal of Financial Intermediation, (2016) 26, 142-168. (with Markus Natter, Dominik Schulte, and Marco Wilkens) Abstract and Download
  • Management of flow risk in Mutual Funds
    Review of Quantitative Finance and Accounting, (2017) 48, 31-56. (with Dominik Schulte and Marco Wilkens). Abstract and Download
  • Does style-shifting activity predict performance? Evidence from equity mutual funds.
    The Quarterly Review of Economics and Finance, (2016) 59, 112-130. (with Ulf Herrmann and Hendrik Scholz). Download (pdf)
  • The Relation between Past Flows and Future Performance: Simple Investment Strategies in the Mutual Fund Sector.
    International Journal of Financial Studies (2015) 3(1): 3-30.
    Download (pdf)

  • Survivorship Bias and Mutual Fund Performance: Relevance, Significance, and Methodical Differences.
    Review of Finance (2011) 15: 441-474 (with Hendrik Scholz and Marco Wilkens).Download (pdf)

Contributions to Anthologies

  • Die wirtschaftliche Bedeutung von Investmentfonds für Anleger.
    In: Thomas M. J. Möllers/Andreas Kloyer (Hrsg.), Das neue Kapitalanlagesetzbuch: Tagung vom 14./15. Juni 2013 an der Juristischen Fakultät Augsburg, Verlag C.H. Beck, 1. Auflage (9. Dezember 2013), München. (with Marco Wilkens)

Conference invitations

*denotes presentations by co-authors

  • 2017: GOR AG FIFI Workshop 2017, Magdeburg, March29-30, 2017, 2017 FMA European Conference, Lisbon, Portugal, June 22-23, 2017, World Finance Conference, Cagliari University, Sardinia, Italy, July 26 - 28, 2017, 4th European Retail Investment Conference, Stuttgart, Germany, May 17-19, 2017, 79. Jahrestagung des VHB, St. Gallen, June 07-09, 2017, HVB PhD Workshop 2017*, Riederau, May 25-27, 2017, GOR International Conference on Operations Research*, Berlin, September 06-08 , 2017, 24th Annual Meeting of the German Finance Association, Ulm, October 06-07, 2017, Universität Liechtenstein Green Summit*, Vaduz, May 23, 2017, Vietnam Symposium in Banking and Finance*, Ho Chi Minh City, October 26-28, 2017, IFABS Asia Conference, Ningbo, China, August 31 - September 02, 2017, Southern Finance Association Annual Meeting*, Key West, November 15-18, 2017.
  • 2016: 78. Jahrestagung des VHB, Munich, May 18-20, FMA European Conference, Helsinki, Juni 9-10, Southern Finance Association Annual Meeting*, Sandestin, November 16-19, GOR Society of Operations Research Workshop Financial Management and Financial Institutions, April 4.
  • 2015: 64th Midwest Finance Association Annual Meeting*, Chicago, March 4-7, 54th Conference of the Southwestern Finance Association*, Houston, March 11-15, Eastern Finance Association Annual Meeting*, New Orleans, April 8-11, 18th Conference of the Swiss Society for Financial Markets Research*, Zurich, April 10, 3rd European Retail Investment Conference (ERIC)*, Stuttgart, April 22-24, 2015 Financial Management Association European Conference*, Venice, June 11-12, 22nd Annual Meeting of the German Finance Association (DGF), Leipzig, September 25-26, Southern Finance Association Annual Meeting*, Captiva Island, November 18-21, 28th Australasian Finance and Banking Conference*, Sydney, December 16-18.
  • 2014: 63rd Midwest Finance Association Annual Meeting, Orlando, March 5-8, 53rd Conference of the Southwestern Finance Association, Dallas, March 12-15, Financial Management Association European Conference, Maastricht, June 11-13, IFABS Conference, Lisbon, June 18-20, Northern Finance Association Conference*, Ottawa, September 12-14, Conference of the Southern Finance Association*, Key West, November 19-22.
  • 2013: 62nd Midwest Finance Association Annual Meeting*, Chicago, March 13-16, 59th Eastern Finance Association Annual Meeting*, St. Pete Beach, April 10-13, 20th Annual Meeting of the German Finance Association, Wuppertal*, September 27-28.
  • 2012: 61st Midwest Finance Association Annual Meeting, New Orleans, February 22-25, 51st Conference of the Southwestern Finance Association, New Orleans, February 29-March 2, European Financial Management Association Symposium on Asset Pricing*, Hamburg, April 12-14.
  • 2011: European Retail Investment Conference Doctoral Consortium*, Stuttgart, February 23, 9th ATINER International Conference on Finance, Athens, July 3-7, Symposium on Finance, Banking and Insurance*, Karslruhe, December 15-16.
  • 2009: 48th Southwestern Finance Association Annual Meeting*, Oklahoma City, February 24-28, 12th Conference of the Swiss Society for Financial Market Research*, Geneva, April 3, Eastern Finance Association Meeting*, Washington, April 29 - May 2, 71st Annual Conference of the German Academic Association of Business Research (VHB)*, Nürnberg, June 3-6, 2009 FMA European Conference*, Turin, June 3-5, European Financial Management Association Annual Meeting*, Milan, June 24-27, FMA European Conference*, Turin, June 4-5, FMA Annual Meeting*, Reno, October 21-24, Southern Finance Association Meeting*, Captiva Island, November 18-21.
  • 2008: 57th Midwest Finance Association Annual Meeting, San Antonio, February 27-March 1, 47th Conference of the Southwestern Finance Association, Houston, March 6-8, 11th Conference of the Swiss Society for Financial Market Research, Zuerich, April 11, 54th Eastern Finance Association Annual Meeting*, St. Pete Beach, Florida, April 9-12, Financial Management Association European Conference, Prague, June 4-6, 15th Annual Meeting of the German Finance Association, Muenster, October 10-11, Conference of the Southern Finance Association*, Key West, November 19-22, 21st Australasian Finance and Banking Conference*, Sydney, December 16-18.

Reviewer for refereed journals

  • Financial Analysts Journal
  • The European Journal of Finance
  • Small Business Economics
  • Financial Review
  • Eastern European Economics
  • International Journal of Financial Studies

Miscellaneous

  • Winner of the science award of the Kurt und Felicitas Viermetz Association 2017
  • Winner of the "Highest Impact Award" by the LIFE Climate Foundation Liechtenstein for the paper "Carbon Risk" (with Maximilan Görgen, Andrea Jacob, Martin Nerlinger and Marco Wilkens) at the Liechtenstein Green Summit 2017. 
  • Accepted to a private discussion session with 1997 Nobel Laureat in Economics Robert C. Merton (MIT) at the 22nd Annual Meeting of the German Finance Association (DGF), Leipzig, September 25-26, 2015.