Dr. habil. Bernhard Zwergel
Senior Researcher
Dr. habil. Bernhard Zwergel
Henschelstr. 4
34127 Kassel
Building: K33
Room: 1104
Phone: +49 561 804-7566
E-Mail: b.zwergel[at]uni-kassel[dot]de
Office Hours: Only with an appointment
Scientific Career
- July 2021
Habilitation with the topic, “Investment Stragtegies, Socially Responsible Investments and Investors” and lecture titled “Raus aus dem Hamsterrad - Wie man mit Mitte 30 in Rente gehen kann.” - April 2013-Present
Senior Researcher, Chair of Sustainable Finance, Faculty of Economics and Management, University of Kassel - April 2006 - March 2013
Research Assistant, Statistics Department (Chair: Prof. Dr. Dr. h.c. Bamberg / Prof. Dr. Okhrin), Business Administration Faculty, Universität Augsburg - August 2009
Doctorate: Dr. rer. pol. at the University of Augsburg's Business Administration Faculty (Topic: On the Forecastability of Financial Markets, Doctoral supervisor: Prof. Dr. Dr. h.c. Günter Bamberg)
Education
- July 2004 - March 2006
Freelance work designing trading systems for stocks and futures, software engineering and software testing, and derivative trading - October 1999 - June 2004
Studied business administration at the University of Augsburg with a focus on finance and banking, financial engineering, team development and interaction management - September 1997 - June 1999
Banking apprenticeship at the BVB Volksbank eG, Bad Vilbel, Germany
- Sustainable and Responsible Investing (SRI)
- Investor Behavior
- Personal Finance
- Regional, circular, climate-friendly, low-carbon buildings (i.e. straw bale insulated buildings)
Current Research Projects
- Sustainable Finance Research Platform (WPSF)
Completed Research Projects
- Invesment Funds for low-carbon Infrastructure (IF)
- Climate Reporting as an Instrument for CO2 Reduction (CRed)
Publications
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Eckert, J., Huber, S., Klein, C., Zwergel, B., 2024. New Evidence on the Investor Group Heterogeneity in the Field of Sustainable Investing. SSRN Electronic Journal 2024, tbd. https://forschung.uni-kassel.de/converis/portal/detail/Publication/178433112 |
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Eckert, J., Klein, C., Knob, L., Zwergel, B., 2024. A road to misery? New evidence on career entrants’ financial behavior and financial well-being. SSRN Electronic Journal 2024, tbd. https://forschung.uni-kassel.de/converis/portal/detail/Publication/179321093 |
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Cauthorn, T., Dumrose, M., Eckert, J., Klein, C., Zwergel, B., 2023. Rating changes revisited: New evidence on short-term ESG momentum. Finance Research Letters 2023, 103703. https://doi.org/10.1016/j.frl.2023.103703 https://forschung.uni-kassel.de/converis/portal/detail/Publication/119173860 |
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Cauthorn, T., Klein, C., Remme, L., Zwergel, B., 2023. Portfolio Benefits of Taxonomy Orientated and Renewable European Electric Utilities. Journal of Asset Management TBD. https://doi.org/https://doi.org/10.1057/s41260-023-00325-0 https://forschung.uni-kassel.de/converis/portal/detail/Publication/115207270 |
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Dobrick, J., Klein, C., Zwergel, B., 2023. ESG as Risk Factor. SSRN Preprint. https://doi.org/10.2139/ssrn.4460385 https://forschung.uni-kassel.de/converis/portal/detail/Publication/169482205 |
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Dobrick, J., Klein, C., Zwergel, B., 2023. Size bias in refinitiv ESG data. Finance Research Letters 55, TBD. https://doi.org/10.1016/j.frl.2023.104014 https://forschung.uni-kassel.de/converis/portal/detail/Publication/145299132 |
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Eckert, J., Huber, S., Klein, C., Zwergel, B., 2022. New evidence on German retail investors: The desire to make an impact. Corporate Finance 168–174. https://forschung.uni-kassel.de/converis/portal/detail/Publication/82406740 |
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Klein, C., Zwergel, B., Eckert, J., Dumrose, M., 2022. Regulatorische und systembedingte Barrieren im Bereich Nachhaltige Geldanlagen in derAnlageberatung im Retail Banking - Eine qualitative Analyse aus der Perspektive des Anlageberaters. https://doi.org/10.17170/kobra-202208036572 https://forschung.uni-kassel.de/converis/portal/detail/Publication/83601013 |
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Bauckloh, T., Zwergel, B., Hardeck, I., Inger, K., Wittenstein, P., 2021. Spillover Effects of Tax Avoidance on Peers’ Firm Value. The Accounting Review 2021, 1–50. https://doi.org/10.2308/TAR-2018-0441 https://forschung.uni-kassel.de/converis/portal/detail/Publication/66599186 |
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Drempetic, S., Klein, C., Zwergel, B., 2020. The Influence of Firm Size on the ESG Score: Corporate Sustainability Ratings Under Review. Journal of Business Ethics 167, 333–360. https://doi.org/10.1007/s10551-019-04164-1 https://forschung.uni-kassel.de/converis/portal/detail/Publication/62198563 |
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Gutsche, G., Zwergel, B., 2020. Investment Barriers and Labeling Schemes for Socially Responsible Investments. Schmalenbachs Business Review (zfbf) 72, 111–157. https://doi.org/https://doi.org/10.1007/s41464-020-00085-z https://forschung.uni-kassel.de/converis/portal/detail/Publication/69183055 |
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Höck, A., Klein, C., Landau, A., Zwergel, B., 2020. The effect of environmental sustainability on credit risk. Journal of Asset Management 21, 85–93. https://doi.org/10.1057/s41260-020-00155-4 https://forschung.uni-kassel.de/converis/portal/detail/Publication/67727699 |
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Klein, C., Zwergel, B., Landau, A., Rochell, J., 2020. Integrated reporting of environmental, social, and governance and financial data: Does the market value integrated reports? Business Strategy and the Environment 29, 1750–1763. https://doi.org/10.1002/bse.2467 https://forschung.uni-kassel.de/converis/portal/detail/Publication/62193581 |
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Rochell, J., Cauthorn, T., Höck, A., Zwergel, B., 2020. Drivers of Socially Responsible Investments Across Europe. Credit and Capital Markets 53, 493–512. https://doi.org/10.3790/ccm.53.4.493 https://forschung.uni-kassel.de/converis/portal/detail/Publication/67533162 |
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Bauckloh, T., Klein, C., Zwergel, B., Heiden, S., 2019. New evidence on the impact of the English national soccer team on the FTSE 100. Finance Research Letters March 2019, 61–67. https://doi.org/10.1016/j.frl.2018.04.001 https://forschung.uni-kassel.de/converis/portal/detail/Publication/51658933 |
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Younas, Z.I., Klein, C., Zwergel, B., Trabert, T., 2019. Board composition and corporate risk-taking: a review of listed firms from Germany and the USA. JOURNAL OF APPLIED ACCOUNTING RESEARCH 20, 526–542. https://doi.org/10.1108/JAAR-01-2018-0014 https://forschung.uni-kassel.de/converis/portal/detail/Publication/60939924 |
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Zwergel, B., Wins, A., Klein, C., 2019. On the heterogeneity of sustainable and responsible investors. JOURNAL OF SUSTAINABLE FINANCE & INVESTMENT 9, 282–294. https://doi.org/10.1080/20430795.2019.1613820 https://forschung.uni-kassel.de/converis/portal/detail/Publication/67728155 |
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Heinemann, K., Zwergel, B., Gold, S., Seuring, S., Klein, C., 2018. Exploring the Supply-Demand-Discrepancy of Sustainable Financial Products in Germany from a Financial Advisor’s Point of View. Sustainability 10, 944. https://doi.org/10.3390/su10040944 https://forschung.uni-kassel.de/converis/portal/detail/Publication/48863095 |
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Bauckloh, T., Klein, C., Zwergel, B., 2017. Sustainable and conventional mutual funds: Do they really differ? Corporate Finance 2017, 86–89. https://forschung.uni-kassel.de/converis/portal/detail/Publication/2460859 |
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Gutsche, G., Ziegler, A., Zwergel, B., Klein, C., 2017. Characterizing German (Sustainable) Investors. Corporate Finance 2017, 77–81. https://forschung.uni-kassel.de/converis/portal/detail/Publication/2460526 |
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Younas, Z.I., Klein, C., Zwergel, B., 2017. The Effects of Ownership Concentration on Sustainability: A Case of Listed Firms from USA, UK and Germany. Corporate Ownership and Control 14, 113–121. https://forschung.uni-kassel.de/converis/portal/detail/Publication/2441767 |
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Wins, A., Zwergel, B., 2016. Comparing those who do, might and will not invest in sustainable funds - A survey among German retail fund investors. Business Research 9, 51–99. https://doi.org/10.1007/s40685-016-0031-x https://forschung.uni-kassel.de/converis/portal/detail/Publication/4034284 |
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Stellner, C., Zwergel, B., Klein, C., 2015. Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability. Journal of Banking & Finance 59, 538–549. https://doi.org/10.1016/j.jbankfin.2015.04.032 https://forschung.uni-kassel.de/converis/portal/detail/Publication/2461858 |
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Wins, A., Zwergel, B., 2015. Private ethical fund investors across countries and time: A survey-based review. Qualitative Research in Financial Markets 7, 379–411. https://doi.org/10.1108/QRFM-10-2014-0030 https://forschung.uni-kassel.de/converis/portal/detail/Publication/3451867 |
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Klein, C., Wins, A., Zwergel, B., 2014. Wer interessiert sich (nicht) für nachhaltige Anlageprodukte? Eine Kundenklassifizierung, in: Faust M, S.S. (Hrsg.), Nachhaltige Geldanlagen -- Produkte, Strategien und Beratungskonzepte. Frankfurt School Verlag, Frankfurt, S. 627–642. https://forschung.uni-kassel.de/converis/portal/detail/Publication/3284812 |
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Zwergel, B., Heiden, S., 2014. Intraday futures patterns and volume--volatility relationships: the German evidence. Review of Managerial Science 8, 29–61. https://doi.org/10.1007/s11846-012-0094-9 https://forschung.uni-kassel.de/converis/portal/detail/Publication/4039279 |
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Heiden, S., Klein, C., Zwergel, B., 2013. Beyond Fundamentals: Investor Sentiment and Exchange Rate Forecasting. European Financial Management 19, 558–578. https://doi.org/10.1111/j.1468-036X.2011.00593.x https://forschung.uni-kassel.de/converis/portal/detail/Publication/2462746 |
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Zwergel, B., 2010. Mögliche Verzerrungen und Fehler in der empirischen Kapitalmarktforschung : eine übersicht mit einem Schwerpunkt auf mögliche Fallstricke im Datenmaterial. Wirtschaftswissenschaftliches Studium 39, 390–395. https://forschung.uni-kassel.de/converis/portal/detail/Publication/4759225 |
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Zwergel, B., 2010. On the exploitability of the turn-of-the-month effect--an international perspective. Applied Financial Economics 20, 911–922. https://doi.org/10.1080/09603101003724307 https://forschung.uni-kassel.de/converis/portal/detail/Publication/4032508 |
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Klein, C., Zwergel, B., Fock, H., 2009. Reconsidering the impact of national soccer results on the FTSE 100. Applied Economics 41, 3287–3294. https://doi.org/10.1080/00036840802112471 https://forschung.uni-kassel.de/converis/portal/detail/Publication/2462191 |
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Klein, C., Zwergel, B., Heiden, S., 2009. On the existence of sports sentiment: the relation between football match results and stock index returns in Europe. Review of Managerial Science 3, 191–208. https://doi.org/10.1007/s11846-009-0031-8 https://forschung.uni-kassel.de/converis/portal/detail/Publication/4221985 |
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Etschberger, S., Fock, H., Klein, C., Zwergel, B., 2006. The classification of candlestick charts: laying the foundation for further empirical Research, in: Spiliopoulou M, K.R. (Hrsg.), From Data and Information Analysis to Knowledge Engineering. Springer Berlin Heidelberg, Berlin, S. 526–533. https://doi.org/10.1007/3-540-31314-1_64 https://forschung.uni-kassel.de/converis/portal/detail/Publication/2459305 |
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Fock, H., Klein, C., Zwergel, B., 2005. Performance of candlestick analysis on intraday futures data. Journal of Derivatives 13, 28–40. https://doi.org/10.3905/jod.2005.580514 https://forschung.uni-kassel.de/converis/portal/detail/Publication/2462413 |