Sebastian Lobe, Ph.D.

Education

Ph.D., University of Regensburg, Germany (2004)

Teaching Areas

Undergraduate

  • Business Finance
  • Investment Strategy
  • Financial Derivatives and Fixed Income
  • Intro to the Bloomberg Terminal

Graduate

  • Investment Management
  • Financial Engineering with Derivatives
  • Socially Responsible Investing

Dr. Lobe’s CV

Honors and Awards

MBS Excellence in Teaching Award, 2022
MBS Research Award Grant, 2019
“Merton H. Miller” Doctoral Seminar Tutor at the EFMA Meeting, Nyenrode Business University, Netherlands, 2015
European Financial Management 2014 Best Paper Award for “The Alternative Three-Factor Model: an Alternative beyond U.S. Markets?“ [EFM Editorial Board’s Vote]
ACATIS Value Prize 2013 (3rd) for research in Value Investing
Best Paper Award (2nd Prize) at the Campus for Finance – 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

Google Scholar – SSRN – Scopus.
ORCID iD : 0009-0006-9250-3490

Web of Science ResearcherID: DFP-5107-2022

SPIFFY Advisor

Publications

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 Walkshäusl)

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 Walkshäusl)

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 Röder and Christoph Schmidhammer)

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

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

Does the term structure of interest rates of German Government securities allow arbitrage opportunities? (Arbitragefreie Zinsstruktur börsennotierter 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 Walkshäusl)

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

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 Röder)

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

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

Don’t Cry for Me Germania? The Government Day-Bond vs. EONIA ETFs (Don’t Cry for Me Germania? Tagesanleihe des Bundes vs. EONIA-ETFs), Zeitschrift für betriebswirtschaftliche Forschung (zfbf), Vol. 65 December (2013), 688–706 (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 Rößle and Christian Walkshäusl)

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

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

Decision Theory Exam (Die Klausur zur Entscheidungslehre), WISU – 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 Röder and Christoph Schmidhammer)

Terminal Value in Corporate Valuation (Terminal Value bei der Unternehmensbewertung), WISU – 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 Börsenbewegung 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 Röder)

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 Hölzl) [Reprinted in: Jahrbuch der Unternehmensbewertung 2012, hrsg. von Schwetzler, B./Aders, C., Düsseldorf, 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 – Irrelevanztheoreme der Dividenden- und Verschuldungspolitik nach Modigliani und Miller bei Wachstum, in: WISU – Das Wirtschaftsstudium, 39. Jg., 07/2010, 947-949 (with Klaus Röder)

Fundamental Valuation of Extra-Financial Information, Corporate Ownership and Control, Vol. 8 Issue 1 Fall (2010), 296-320 (with Klaus Röder, Christian Mandl and Martina Dürndorfer)

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

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., Düsseldorf, 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 – JBB (Zeitschrift für Bankrecht und Bankwirtschaft – 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 Vorstände und Aufsichtsratsvorsitzende an Fairness Opinions?) Die Wirtschaftsprüfung, Vol. 60, Issue 11 (2007), 468-477 (with Klaus Röder and Wolfgang Essler)

Are Austrian Savings Bonds Superior to German Savings Bonds? (Die österreichische Straffunktion – oder: Wie konkurrenzfähig sind österreichische Bundesschätze im Vergleich zu deutschen Bundeswertpapieren?) Journal of Banking Law and Banking – JBB (Zeitschrift für Bankrecht und Bankwirtschaft – ZBB), Vol. 18, Issue 2 (2006), 128-138 (with Klaus Röder)

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