Empirical Finance

Track Coordinator: Dieter Hess

Participating Professors: Jörg Breitung, Dieter Hess, Alexander Kempf, Roman Liesenfeld,  Alexander Pütz

The track Empirical Finance provides PhD students with the skills necessary to conduct cutting-edge empirical research in capital markets. Participating students receive an in-depth training in econometric methods applicable to financial markets research questions. Special research courses bring students to the forefront of empirical analysis of value creation in asset management and the design of trading processes in capital markets. Core research topics are corporate earnings processes and fundamental valuation, asset management, fund performance, measurement and management risks, optimal design of trading processes, behavior of market participants annd financial intermediaries.

Mandatory Courses: Students need to take at least three courses. Please consult with your supervisor concerning the selection of all courses.


Mandatory CoursesCycleECTSResponsible Person
Statistical Analysis for Financial DataST6Liesenfeld
Empirical Methods to Analyse Time Seris annd Cross-Section DataWT6Breitung
Research in Finance IWT6Hess
Research in Finance IIST6Pütz
Research in Finance IIIoccas.6Kempf



ElectivesCycleECTSResponsible Person
Capital Market TheoryWT6Pütz
Corporate Finance TheoryWT6Hess
Asset ManagementWT6Kempf
Value-based ControllingST6Homburg
International Taxationtba6Borstell, Loitz
Research in Business TaxationST6Overesch
Quantitative Methods in Risk Managementocc.6Grothe
Bayesian EconometricsWT6Liesenfeld
State Space Models and the Kalman Filterocc.6Grothe



Research SeminarsCycleCreditsResponsible Person
CFR Research SeminarST & WT6Kempf
Brown Bag Research SeminarST & WT6N.N.