Professor Ernst Maug, Ph.D.

Project B9

Lehrstuhl für Corporate Finance
Fakultät für Betriebswirtschaftslehre
Universität Mannheim

Ernst Maug has been professor for Corporate Finance at the University of Mannheim since February 2006. He was Professor of Business Administration at the Department of Business and Economics at the Humboldt-Universiät zu Berlin. In his previous positions he served a Assistant Professor of Finance at the Fuqua School of Business at Duke University from 1996 to 2000. He held a similar position at the London Business School, where he taught from 1993 to 1996. He taught a range of courses from introductory MBA level to senior executive programs. Professor Maug obtained his PhD from the London School of Economics in 1993, where he was a member of the Financial Markets Group. His main research interest is in the theory of corporate finance with a particular emphasis on corporate governance. Recent work analyzes the relationship between the stock market and governance by large shareholders, insider trading legislation, shareholder voting, companies' strategies to divest, and compensation for executives and portfolio managers. His research was published in the American Economic Review, the Journal of Finance, and the European Economic Review.

Selected Publications

• Dittmann, I., Maug, E., Schneider, C. (2006), How Preussag became TUI: Kissing too many toads can make you a toad
• Dittmann, I., Maug, E. (2006), Valuation Biases, Error Measures, and the Conglomerate Discount
• Ackermann, A., Maug, E. (2006), Insider Trading Legislation and Acquistion Announcements: Do Laws Matter?
• Maug, E. (2005), Corporate Finance in Europe - A Survey
• Dittmann, I., Maug, E., Schneider, C. (2005), Bankers and the Performance of German Firms
• Dittmann, I., Maug, E. (2005), Lower Salaries and No Options: The Optimal Structure of Executive Pay, (forthcoming in the Journal of Finance)
• Degeorge, F., Maug, E. (2005), Corporate Finance in Europe - A Surve
• Maug, E., (2005), Valuation in Minority Freezeouts: Takeovers, Efficiency, and the Freeze-in Problem, (forthcoming in the International Review of Law and Economics)
• Güth, W., Maug, E., (2004), Who Volunteers? A Theory of Charities as Firm
• Dittmann, I., Kemper, J., Maug, E. (2004), How Fundamental are Fundamental Values? Valuation Methods and Their Impact on the Performance of German Venture Capitalists, European Financial Management, 10:4, 609-638
• Maug, E., Rydqvist, K., (2004), Do Shareholders Vote Strategically? Evidence on the Advisory Role of the Annual General Meeting