Thomas Dangl

Associate Professor of Finance
Institute of Management Science
Vienna University of Technology
Theresianumgasse 27
A-1040 Vienna

www: https://www.tuwien.at/mwbw/im/fc/team/dangl-thomas
mail: thomas.dangl [at] tuwien.ac.at

CV: ThDangl.pdf

teaching material: https://thomasdangl.net/teaching

I am Associate Professor of Finance at TU Wien, Vienna University of Technology. My research focuses
on Corporate Finance
and on 
Portfolio Management and Asset Pricing.
It is regularly published in leading academic Journals.

 

In addition to my scholarly work, I have 19 years of experience in the finance industry – in asset and risk management – and I am a founding partner of IQAM Invest, an expert in research-based Quantitative Asset Management (founded in 2007). In a successful trade sale, IQAM Invest was sold to DekaBank Deutsche Girozentrale by end of 2020.

AWG 2024 Workshop -- September 13 and 14, 2024

The 39th Workshop of the AUSTRIAN WORKING GROUP ON BANKING & FINANCE will be held at TU Wien, September 13 and 14, 2024.
Details on paper submission (deadline: June 15, 2024) and registration can be found in the Call for Papers.

Recent Working Papers

Dangl, Thomas, Lorenzo Garlappi and Alex Weissensteiner (2023) Conservative Holdings, Aggressive Trades: Ambiguity, Learning,  and Equilibrium Flows, working paper. Presented at: 16th Jackson Hole Finance Group conference 2023, EEA-ESEM 2023 Barcelona, DGF 2023 Hohenheim, AFA 2024 San Antonio 

Dangl, Thomas, Michael Halling, Jin Yu and Josef Zechner (2023) Stochastic Social Preferences and Corporate Investment Decisions, working paper. Presented at: UBC Summer Finance Conference 2023 Vancouver, Western Finance Association Meeting 2024 (scheduled)

Dangl, Thomas, Michael Halling, Jin Yu and Josef Zechner (2023) Social Preferences and Corporate Investment, working paper. R&R Journal of Financial Economics, EFA 2024 Meeting (scheduled).

Dangl, Thomas, Michael Halling and Stefan Salbrechter (2023) Firm-specific Climate Risk Estimated from Public News, working paper.

Dangl, Thomas and Stefan Salbrechter (2023) Guided Topic Modeling with Word2Vec: A Technical Note, working paper.

Dangl, Thomas, Hamed Ghoddusi, and Sebastian Rötzer (2023) The Hedging Effect of Low Durability Capital Assets in Competitive Industries, working paper.

Dangl, Thomas and Stefan Salbrechter (2022) Overnight Reversal and the Asymmetric Reaction to News, working paper. Presented at: DGF 2023 Hohenheim.

Published Papers

[letters in square brackets refer to the vhb journal classification, vhb-jourqual-3]

Dangl, Thomas and and Josef Zechner (2021)  Debt Maturity and the Dynamics of Leverage, Review of Financial Studies, 34 (12), 5796-5840.
[A+, 132 citations according to Google scholar] The paper is available under the CC BY open access license.

Dangl, Thomas and Alex Weissensteiner (2020) Optimal Portfolios under Time-Varying Investment Opportunities, Parameter Uncertainty and Ambiguity Aversion, Journal of Financial and Quantitative Analysis,  55(4), 1163-1198.
Working-paper version at SSRN
[A, 21 citations according to Google scholar]

Dangl, Thomas and Youchang Wu (2016) Corporate Investment over the Business Cycle, Review of Finance, 20 (1), 337-371.
Working-paper version at SSRN
[A, 30 citations according to Google scholar]

Dangl, Thomas and Michael Halling (2012) Predictive Regressions with Time-Varying Coefficients, Journal of Financial Economics, 106 (1), 157-181.
Working-paper version at SSRN
[A+, 667 citations according to Google scholar]

Dawid, Herbert, Michael Kopel and Thomas Dangl (2009) Trash it or sell it? A strategic analysis of development and market introduction of product innovations, International Game Theory Review, 11, 321-345.

Dangl, Thomas, , Youchang Wu and Josef Zechner (2008) Market Discipline and Internal Governance in the Mutual Fund Industry, The Review of Financial Studies, Vol 21, Nr 5, 2307-2343.
[A+, 154 citations according to Google scholar]

Dangl, Thomas and Franz Wirl (2007) The Consequences of Irreversibility on Optimal Intertemporal Emission Policies Under Uncertainty,  Central European Journal of Operations Research, 15, 143-166.[C, 9 citations according to Google scholar]

Dangl, Thomas and Josef Zechner (2004) Credit Risk and Dynamic Capital Structure Choice, Journal of Financial Intermediation, 13/2, pp 183-204.
[A, 128 citations according to Google scholar]

Dangl, Thomas and Alfred Lehar (2004) Value-at-Risk vs. Building Block Regulation in Banking, Journal of Financial Intermediation, 13/2, pp 96-131.
[A, 126 citations according to Google scholar]

Dangl, Thomas and Franz Wirl (2004) Investment under Uncertainty: Calculating the Value Function when the Hamilton-Jacobi-Bellman Equation cannot be Solved Analytically, Journal of Economic Dynamics and Control, Vol 28/7, pp 1437-1460.
[A, 65 citations according to Google scholar]

Dangl, Thomas, , Engelbert J. Dockner, Andrea Gaunersdorfer, Alexander Pfister, Leopold Sögner,  Günter Strobl  (2001), Adaptive Erwartungsbildung und Finanzmarktdynamik, zfbf, 53, pp 339 – 365.

Wirl, Franz and Thomas Dangl (2000) Was Dixit und Pindyck bei der Analyse von Managementproblemen unter Unsicherheit verschweigen an Hand des Beispiels der optimalen Wartung und Ausmusterung einer Maschine, Zeitschrift für Betriebswirtschaft, 2/2000, pp. 211 – 229.

Dangl, Thomas (1999) Investment and capacity choice under uncertain demand, European Journal of Operational Research, 117/3, pp. 1-14.
[A, 308 citations according to Google scholar]

Dangl, Thomas und  Franz Wirl (1998) Unsicherheit verbunden mit Irreversibilität als alternative Erklärung zu “Marktversagen” bei Energiesparinvestitionen, OR-Spectrum, 20, pp. 259 – 267.

some physics:
Dangl, T
homas, Eva Leitner-Wild, Peter Hille und Robert Nowotny (1993) Detection of irradiated mushrooms and kiwi fruits by thermoluminescence measurement}, Radiation Physics and Chemistry, 41/3, pp. 447- 452.