G
Günter Strobl
Researcher at University of Vienna
Publications - 30
Citations - 743
Günter Strobl is an academic researcher from University of Vienna. The author has contributed to research in topics: Trading strategy & Market liquidity. The author has an hindex of 12, co-authored 28 publications receiving 696 citations. Previous affiliations of Günter Strobl include University of Pennsylvania & Frankfurt School of Finance & Management.
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Journal ArticleDOI
The Economics of Solicited and Unsolicited Credit Ratings
TL;DR: In this article, the authors developed a dynamic rational expectations model of the credit rating process, incorporating three critical elements of this industry: (i) the rating agencies' ability to misreport the issuer's credit quality, (ii) their ability to issue unsolicited ratings, and (iii) their reputational concerns.
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Bank capital regulation with random audits
Sudipto Bhattacharya,Sudipto Bhattacharya,Manfred Plank,Günter Strobl,Josef Zechner,Josef Zechner +5 more
TL;DR: In this article, a model of optimal bank closure rules with Poisson-distributed audits of the bank's asset value by the regulator is considered, with the goal of eliminating (ameliorating) the incentives of levered bank shareholders/managers to take excessive risks in their choice of underlying assets.
Journal ArticleDOI
The Economics of Solicited and Unsolicited Credit Ratings
TL;DR: In this article, the authors developed a dynamic rational expectations model of the credit rating process, incorporating three critical elements of this industry: (i) the rating agencies ability to misreport the issuer's credit quality, (ii) their ability to issue unsolicited ratings, and (iii) their reputational concerns.
Journal ArticleDOI
Earnings Manipulation and the Cost of Capital: the cost of capital
TL;DR: In this paper, the role of earnings management in affecting a firm's cost of capital was examined using an agency model with multiple firms whose cash flows are correlated, and the extent of earnings manipulation varies across the business cycle.
Journal ArticleDOI
Relative Wealth Concerns and Complementarities in Information Acquisition
Diego Garcia,Günter Strobl +1 more
TL;DR: This article studied how relative wealth concerns, in which a person's satisfaction with their own consumption depends on how much others are consuming, affect investors' incentives to acquire information and found that such externalities can generate complementarities in information acquisition within the standard rational expectations paradigm.