Deutsch Contact Directions Sitemap Imprint and Privacy Policy

Welcome to the CFR!

The CFR conducts independent, cutting-edge research of practical relevance in the area of finance. We offer talented students and graduates the opportunity to participate in our research, so that, given adequate abilities and interests, their way into international research may become easier. As a competence centre for finance, the CFR is finding resonance in academia and practitioners. We invite you to be part of the process!



On April 1st, 2019, the 18th Cologne Colloquium on Financial Markets will take place. The deadline for submissions is January 15th, 2019. Further information can be found here.
Journal of Financial and Quantitative AnalysisThe CFR Working Paper No. 15-12 "Liquidity Transformation and Financial Fragility: Evidence from Funds of Hedge Funds" by Vikas Agarwal, George O. Aragon, and Zhen Shi has been accepted for publication in Journal of Financial and Quantitative Analysis.
We congratulate the member of our CFR Research Team, Stefan Jaspersen, for obtaining his Doctorate. Stefan Jaspersen has written his thesis on "Information advantages in the mutual fund industry“.
Review of Financial StudiesThe CFR Working Paper No. 14-11 "The Investment Value of Mutual Fund Managers’ Experience outside the Financial Sector" by Gjergji Cici, Monika Gehde-Trapp, Marc-André Göricke and Alexander Kempf has been accepted for publication in Review of Financial Studies.
Journal of Banking and FinanceThe CFR Working Paper No. 14-14 "Trading Efficiency of Fund Families: Impact on Fund Performance and Investment Behavior" by Gjergji Cici, Laura Dahm and Alexander Kempf has been accepted for publication in Journal of Banking and Finance.

Responsible for content within the meaning of § 55 II RStV:
Dr. Alexander Pütz,

CFR Research Workshop 2019


The CFR Research Workshop will take place at HSBC Trinkaus & Burkhardt AG in Düsseldorf on March 7th, 2019.

The CFR Research Workshop serves the purpose of intensifying the exchange between researchers at the CFR and the CFR sponsors.

18th Cologne Colloquium on Financial Markets


The 18th Cologne Colloquium on Financial Markets, organised by Prof. Dr. Alexander Kempf, will take place at Sparkasse KoelnBonn in Cologne on April 1st, 2019.

The Colloquium addresses both academics and practitioners interested in the field of asset management. The conference language is English. Further information about the event and the Call for Papers can be found here.

German Factors and Test Assets

The Fama-French factors, the Carhart factor and test assets for the German equity market are now available for download. The factors and test assets have been calculated as part of a joint project of the CFR and the chairs of Prof. Alexander Kempf and Prof. Erik Theissen. We hope that this will be a useful and valuable resource to the research community. You can find the data sets here.

CFR Working Paper Series

Bild CFR Working Paper18-01
The Impact of Labor Mobility Restrictions on Managerial Actions: Evidence from the Mutual Fund Industry

Gjergji Cici, Mario Hendriock, Alexander Kempf

Executive Summary | Download Paper

Find more CFR Working Papers

Sponsors | © 2004-2018 | webmaster