Florian Muenkel is a professor of finance at Saint Mary’s University’s Sobey School of Business. His research interests include corporate finance, corporate governance, theory of the firm, and fintech.
PhD in Finance, 2014
University of Washington
Diplom in Mathematics and Economics, 2008
University of Ulm, Germany
MS in Mathematical Finance, 2006
University of Southern California
Material private information transmits through social networks. Using manually collected information on networks of alumni reunion cohorts, we show that hedge fund managers connected to directors of firms engaged in merger deals increase call option holdings on target firms before deal announcements. Effects are larger when reunion events for connected cohorts occur just before announcements. Independent directors, directors with short tenure, and directors with low stock ownership are more likely to transmit information. Our results are robust to confounding factors and alternative specifications. These findings highlight the role of social networks as channels of private information dissemination.
We find that a significant proportion of the cross-sectional variation in the choice to own or rent is attributable to a genetic factor, while parental influence is not found to affect this choice. We also find evidence of gene-environment interactions: The environment moderates genetic effects on homeownership in that growing up in a wealthier family results in a stronger expression of genetic predispositions, while idiosyncratic life experiences appear to explain a larger portion of the variation in homeownership among those who grew up in a less wealthy family environment. Furthermore, we find that home location choices, for example, a familiar home location close to one’s birthplace and an urban versus a rural home location, are explained by both genetic factors and parental influence. Because we control for an extensive set of individual characteristics analyzed in existing research, an interpretation of our evidence is that an individual’s preferences with respect to homeownership and home location are partly genetic. The findings contribute to a deeper understanding of the factors that explain individual behavior with respect to the housing market, and add to an expanding literature on the biological and genetic factors that influence individuals’ economic and financial decisions.
If you are in one of my classes, you can find all class material here.
In the past I taught International Finance (Undergraduate), Financial Management (MBA and Master of Finance) and Business Finance I (Undergraduate) and was Teaching Assistant for Financial Management (Executive MBA), Statistics for Business (Undergraduate), Real Estate Finance (Undergraduate), Financial Management (Undergraduate).