海角社区

Sebastian Lobe

University Foundation Professor of Investment Education
海角社区 Business School

Awards

MBS Excellence in Teaching Award, 2022
MBS Research Award Grant, 2019
鈥淢erton H. Miller鈥 Doctoral Seminar Tutor at the EFMA Meeting, Nyenrode Business University, Netherlands, 2015
European Financial Management 2014 Best Paper Award for 鈥淭he Alternative Three-Factor Model: an Alternative beyond U.S. Markets?鈥 [EFM Editorial Board鈥檚 Vote]
ACATIS Value Prize 2013 (3rd) for research in Value Investing
Best Paper Award (2nd Prize) at the Campus for Finance 鈥 Research Conference
ACATIS Value Prize 2012 (2nd) for research in Value Investing
ACATIS Value Prize 2011 (1st) for the best paper in Value Investing
ACATIS Value Prize 2010 (3rd) for research in Value Investing
ACATIS Value Prize 2009 (1st) for the best paper in Value Investing

Global Evidence on Growth Opportunities, Beta, and the Cost of Capital, International Journal of Business and Social Science, Vol. 15, Issue 1 (2024), 114-135 (with Olena Walter and Christian Walksh盲usl)

Finding Value in Sustainable and Responsible Investments, Corporate Ownership and Control, Vol. 20, Issue 4 (2023), 84-96 (with Gerhard Halbritter)

Vice vs. Virtue Investing Around the World, Review of Managerial Science, Vol. 10 Issue 2 (2016), 303-344 (with Christian Walksh盲usl)

The Day the Index Rose 11%: A Clinical Study on Price Discovery Reversal, Review of Quantitative Finance and Accounting, Vol. 46 Issue 1 (2016), 79-106 (with Klaus R枚der and Christoph Schmidhammer)

Predicting Above-Median and Below-Median Growth Rates, Review of Managerial Science, Vol. 10 Issue 1 (2016), 105-133 (with Alexander H枚lzl)

The Enterprise Multiple Investment Strategy: International Evidence, Journal of Financial and Quantitative Analysis, Volume 50, Issue 4 August (2015), 781-800 (with Christian Walksh盲usl)

Does the term structure of interest rates of German Government securities allow arbitrage opportunities? (Arbitragefreie Zinsstruktur b枚rsennotierter Bundeswertpapiere?), Betriebswirtschaftliche Forschung und Praxis (BFuP), Volume 67, Issue 5 (2015), 554-561

Green and Socially Responsible Investing in International Markets, Journal of Asset Management, Volume 15, Issue 5 October (2014), 317-331 (with Kathrin Lesser and Christian Walksh盲usl)

A Reexamination of the Issuance and Investment Anomalies in International Markets, Schmalenbach Business Review (sbr), Vol. 66 July (2014), 245鈥275 (with Christian Walksh盲usl)

Book Equity Ratios of German SMEs: 1997-2011 (Zur Eigenkapitalquote des deutschen Mittelstands von 1997 bis 2011), Corporate Finance, Vol. 5 Issue 7-8 (2014), 342-344 (with Christian Curac)

The Real Benchmark of DAX Index Products and the Influence of Information Dissemination: A Natural Experiment, Journal of Asset Management, Volume 15, Issue 2 April (2014), 129-149 (with Christoph Schmidhammer and Klaus R枚der)

Responsible Investment in Germany, Austria, and Switzerland, Problems and Perspectives in Management, Issue 1 (cont.) March (2014), 199-207 (with Christian Walksh盲usl)

The Alternative Three-Factor Model: an Alternative beyond U.S. Markets? European Financial Management, Volume 20, Issue 1 January (2014), 33鈥70 (with Christian Walksh盲usl)

Don鈥檛 Cry for Me Germania? The Government Day-Bond vs. EONIA ETFs (Don鈥檛 Cry for Me Germania? Tagesanleihe des Bundes vs. EONIA-ETFs), Zeitschrift f眉r betriebswirtschaftliche Forschung (zfbf), Vol. 65 December (2013), 688鈥706 (with Christoph Schmidhammer and Jennifer Pickel)

The Price of Faith: Performance, Bull and Bear Markets, and Screening Effects of Islamic Investing Around the Globe, Journal of Investing, Winter (2012), 153-164 (with Felix R枚脽le and Christian Walksh盲usl)

Islamic Equity Investing: Alternative Performance Measures and Style Analysis, Journal of Investing, Winter (2012), 182-189 (with Christian Walksh盲usl)

Islamic Investing, Review of Financial Economics, Vol. 21 Issue 2 (2012), 53-62 (with Christian Walksh盲usl)

Decision Theory Exam (Die Klausur zur Entscheidungslehre), WISU 鈥 Das Wirtschaftsstudium, 41. Jg., 02/2012, 211-215

Intraday Pricing of ETFs and Certificates Replicating the German DAX Index, Review of Managerial Science, Vol. 5 Issue 4 (2011), 337-351 (with Klaus R枚der and Christoph Schmidhammer)

Terminal Value in Corporate Valuation (Terminal Value bei der Unternehmensbewertung), WISU 鈥 Das Wirtschaftsstudium, 40. Jg., 08-09/2011, 1096-1102, 1172

Extreme Stock Market Movements and Intraday Prices of Endless Leverage Index Certificates: The Kerviel Case (Extreme B枚rsenbewegung und Intraday-Preisstellung von Open End Turbo-Zertifikaten auf den DAX: Der Fall Kerviel), Credit and Capital Markets (Kredit und Kapital, KuK), Vol. 44 Issue 2 (2011), 217-242 (with Klaus R枚der)

Perpetuity, Bankruptcy, and Corporate Valuation: The Global Evidence (Ewigkeit, Insolvenz und Unternehmensbewertung: Globale Evidenz), Corporate Finance Biz, Vol. 2 Issue 4 (2011), 252-257 (with Alexander H枚lzl) [Reprinted in: Jahrbuch der Unternehmensbewertung 2012, hrsg. von Schwetzler, B./Aders, C., D眉sseldorf, 2012, 287-295]

Short-Term Market Overreaction on the Frankfurt Stock Exchange, Quarterly Review of Economics and Finance, Vol. 51 Issue 2 May (2011), 113-123 (with Johannes Rieks)

Corporate Valuation and Fairness Opinion: Case Study (Unternehmensbewertung und Fairness Opinion: Die Fallstudie 鈥 Irrelevanztheoreme der Dividenden- und Verschuldungspolitik nach Modigliani und Miller bei Wachstum, in: WISU 鈥 Das Wirtschaftsstudium, 39. Jg., 07/2010, 947-949 (with Klaus R枚der)

Fundamental Valuation of Extra-Financial Information, Corporate Ownership and Control, Vol. 8 Issue 1 Fall (2010), 296-320 (with Klaus R枚der, Christian Mandl and Martina D眉rndorfer)

Fundamental Indexing Around the World, Review of Financial Economics, Vol. 19, Issue 3 (2010), 117-127 (with Christian Walksh盲usl)

Survival of Firms and the Infinite Horizon Formula: A Contradiction for Corporate Valuation? (Lebensdauer von Firmen und ewige Rente: Ein Widerspruch?) Corporate Finance Biz, Vol. 1, Issue 3 (2010), 179-182 [Reprinted in: Jahrbuch der Unternehmensbewertung 2012, hrsg. von Schwetzler, B./Aders, C., D眉sseldorf, 2012, 297-301]

Definitive Withholding Tax and Profitability of Bonds, Shares and ETFs (Zum Einfluss der Abgeltungsteuer auf die Vorteilhaftigkeit von Renten, Aktien und Aktienindexanlagen), Journal of Banking Law and Banking 鈥 JBB (Zeitschrift f眉r Bankrecht und Bankwirtschaft 鈥 ZBB), Vol. 21, Issue 6 (2009), 434-441

Caveat WACC: Pitfalls in the Use of the Weighted Average Cost of Capital, Corporate Ownership and Control, Vol. 6, Issue 3 Spring (2009), 45-52

Fairness Opinions, Executive Directors, and Supervisory Boards: The Case of Germany (Welche Anforderungen stellen deutsche Vorst盲nde und Aufsichtsratsvorsitzende an Fairness Opinions?) Die Wirtschaftspr眉fung, Vol. 60, Issue 11 (2007), 468-477 (with Klaus R枚der and Wolfgang Essler)

Are Austrian Savings Bonds Superior to German Savings Bonds? (Die 枚sterreichische Straffunktion 鈥 oder: Wie konkurrenzf盲hig sind 枚sterreichische Bundessch盲tze im Vergleich zu deutschen Bundeswertpapieren?) Journal of Banking Law and Banking 鈥 JBB (Zeitschrift f眉r Bankrecht und Bankwirtschaft 鈥 ZBB), Vol. 18, Issue 2 (2006), 128-138 (with Klaus R枚der)

Debt Tax Shields and Corporate Valuation (Marktbewertung des Steuervorteils der Fremdfinanzierung und Unternehmensbewertung), Finanzbetrieb, Vol. 3 (2001), 645-652

Areas of Expertise

Bloomberg Terminal
Business Finance
Financial Derivatives and Fixed Income
Financial Engineering with Derivatives
Investment Management
Investment Strategy
Socially Responsible Investing

Education

Ph.D., University of Regensburg, Germany (2004)
Portrait of Sebastian Web
University Foundation Professor of Investment Education