05.12.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 09-14 "The Term Structure ofIlliquidity Premia" by Alexander Kempf, Olaf Korn and Marliese Uhrig-Homburg has been accepted for publication in the "Journal of Banking and Finance".

16.11.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 08-04 "Price Adjustment to News with Uncertain Precision" by Dieter Hess, Nikolas Hautsch and Christoph Müller has been accepted for publication in the "Journal of International Money and Finance".

04.11.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 10-06 "Tell-Tale Tails: A data driven approach to estimate unique market information shares" by Joachim Grammig and Franziska J. Peter has been accepted for publication in the "Journal of Financial and Quantitative Analysis".

19.10.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 10-03 "The Impact of Investor Sentiment on the German Stock Market" by Philipp Finter, Alexandra Niessen-Ruenzi and Stefan Ruenzi has been accepted for publication in the "Zeitschrift für Betriebswirtschaft".

19.10.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 11-11 "Extended Dividend, Cash Flow and Residual Income Valuation Models - Accounting for Deviations from Ideal Conditions" by Carsten Homburg, Nicolas Heinrichs, Dieter Hess, Michael Lorenz and Soenke Sievers has been accepted for publication in "Contemporary Accounting Research".

05.10.2011
Personalia
We congratulate the member of our CFR Research Team, Ms. Kerstin Drachter, for obtaining her doctorate. Kerstin Drachter wrote her thesis on „Entscheidungsprozesse im Fondsmanagement“.

17.08.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 10-05 "Vergütung von Managern deutscher Aktienfonds: Höhe, Struktur, Determinanten und Anreizwirkungen" by Kerstin Drachter and Alexander Kempf has been accepted for publication in the "Zeitschrift für Betriebswirtschaft".

28.06.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 09-17 "Price Discovery in Spot and Futures Markets: A Reconsideration" by Erik Theissen has been accepted for publication in the "European Journal of Finance".

21.06.2011
Best Paper Award
Meike Hagemeister and Alexander Kempf have received the DBW Best Paper Award 2010 for their CFR Working Paper No. 07-01 "CAPM und erwartete Renditen - Eine Untersuchung auf Basis der Erwartung von Marktteilnehmern". The laureates were honoured at a ceremony held at the annual meeting of the Verband der Hochschullehrer für Betriebswirtschaft e.V. in Kaisererslautern (Germany).

10.06.2011
Personalia
We congratulate the member of our CFR Research Team, Philipp Finter, for obtaining his Doctorate. Philipp Finter wrote his thesis on „Bewertungsrelevante Faktoren am deutschen Aktienmarkt“.

26.05.2011
Personalia
We congratulate the member of our CFR Research Team, Sabine Artmann, for obtaining her Doctorate. Sabine Artmann wrote her thesis on „Renditeanomalien in Deutschland und den USA“.

17.05.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 10-12 "The Cross-Section of German Stock Returns:
New Data and New Evidence" by Sabine Artmann, Philipp Finter, Alexander Kempf, Stefan Koch und Erik Theissen has been accepted for publication in the "Schmalenbach Business Review".

12.05.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 05-05 "Understanding the Limit Order Book: Conditioning on Trade Informativeness" by Héléna Beltran, Joachim Grammig and Albert J. Menkveld has been accepted for publication in the "European Journal of Finance".

11.05.2011
Personalia
We congratulate the member of our CFR Research Team, Miriam Breunsbach, for obtaining her Doctorate. Miriam Breunsbach wrote her thesis on „Applications of Company Valuation Models. Empirical Evidence on Selected Topics“.

10.05.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 11-05 "The Prevalence of the Disposition Effect in Mutual Funds" by Gjergji Cici has been accepted for publication in the "Journal of Financial and Quantitative Analysis".

10.05.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 05-06 "Is BEST Really Better? Internalization of Orders in an Open Limit Order Book" by Joachim Grammig and Erik Theissen has been accepted for publication in the "Schmalenbach Business Review".

05.05.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 11-01 "The Role of Hedge Funds as Primary Lenders" by Vikas Agarwal and Costanza Meneghetti has been accepted for publication in the "Review of Derivatives Research".

19.04.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 11-06 "The Impact of Macroeconomic News on Quote Adjustments, Noise, and Informational Volatility" by Nikolaus Hautsch, Dieter Hess, David Veredas has been accepted for publication in the "Journal of Banking and Finance".

04.03.2011
CFR Working Paper Accepted for Publication
The CFR Working Paper No. 08-12 "Fundamental Information in Technical Trading Strategies" by Ute Bonenkamp, Carsten Homburg and Alexander Kempf has been accepted for publication in the "Journal of Business Finance and Accounting".

18.01.2011
Gothaer Asset Management AG new CFR Sponsor
Gothaer Asset Management AG joins the circle of CFR supporting members. Christof Kessler as chief executive represents the Gothaer Asset Management AG in the Advisory Body of the CFR. We welcome this decision.

11.01.2011
AXA Konzern AG new CFR Sponsor
AXA Konzern AG joins the circle of CFR supporting members. Dr. Heinz-Jürgen Schwering represents AXA in the Advisory Body of the CFR. We welcome this decision.

---

Responsible for content in the sense of § 18 para. 2 MStV:
Dr. Alexander Pütz
Centre for Financial Research (CFR)
Albertus-Magnus-Platz
50923 Köln
puetz@cfr-cologne.de