Journal Publications

Forthcoming publications

Garel, Alexandre; Romec, Arthur; Sautner, Zacharias; Wagner, AlexanderDo investors care about biodiversity? Review of Finance

Krueger, Philipp ; Sautner, Zacharias; Yongjun Tang, Dragon; Zhong, RuiThe effects of mandatory ESG disclosure around the world Journal of Accounting Research

2024
- Cronqvist, Henrik; Ladika, Tomislav; Pazaj, Elisa; Sautner, Zacharias (2024). Limited attention to detail in financial markets: Evidence from reduced-form and structural estimation. Journal of Financial Economics, 154:103811.
- Hoepner, Andreas G F; Oikonomou, Ioannis; Sautner, Zacharias; Starks, Laura T; Zhou, Xiao Y (2024). ESG Shareholder Engagement and Downside Risk. Review of Finance, 28(2):483-510.

2023
- Sautner, Zacharias; van Lent, Laurence; Vilkov, Grigory; Zhang, Ruishen (2023). Pricing climate change exposure. Management Science, 69(12):7540-7561.
- Ilhan, Emirhan; Krueger, Philipp; Sautner, Zacharias; Starks, Laura T (2023). Climate risk disclosure and institutional investors. Review of Financial Studies, 36(7):2617-2650.
- Sautner, Zacharias; Van Lent, Laurence; Vilkov, Grigory; Zhang, Ruishen (2023). Firm‐level climate change exposure. Journal of Finance, 78(3):1449-1498.

2022
- Karsten, Christel; Malmendier, Ulrike; Sautner, Zacharias (2022). Lawyer expertise and contract Design - evidence from M&A negotiations. Economic Journal, 132(642):644-674.

2021
- Dasgupta, Amil; Fos, Vyacheslav; Sautner, Zacharias (2021). Institutional investors and corporate governance. Foundations and trends in finance, 12(4):276-394.
- Cremers, Martijn; Pareek, Ankur; Sautner, Zacharias (2021). Short-term institutions, analyst recommendations, and mispricing: The role of higher order beliefs. Journal of Accounting Research, 59(3):911-958.
- Ilhan, Emirhan; Sautner, Zacharias; Vilkov, Grigory (2021). Carbon tail risk. Review of Financial Studies, 34(3):1540-1571.

2020
- Cremers, Martijn; Pareek, Ankur; Sautner, Zacharias (2020). Short-term investors, long-term investments, and firm value: Evidence from Russell 2000 index inclusions. Management Science, 66(10):4535-4551.
- Ladika, Tomislav; Sautner, Zacharias (2020). Managerial short-termism and investment: Evidence from accelerated option vesting. Review of Finance, 24(2):305-344.
- Krueger, Philipp; Sautner, Zacharias; Starks, Laura T (2020). The importance of climate risks for institutional investors. Review of Financial Studies, 33(3):1067-1111.

2018
- Jochem, Torsten; Ladika, Tomislav; Sautner, Zacharias (2018). The retention effects of unvested equity: Evidence from accelerated option vesting. Review of Financial Studies, 31(11):4142-4186.
- Sautner, Zacharias; Vladimirov, Vladimir (2018). Indirect costs of financial distress and bankruptcy law: Evidence from trade credit and sales. Review of Finance, 22(5):1667-1704.

2017
- Humphery‐Jenner, Mark; Sautner, Zacharias; Suchard, Jo‐Ann (2017). Cross‐border mergers and acquisitions: The role of private equity firms. Strategic Management Journal, 38(8):1688-1700.

2016
- McCahery, Joseph A; Sautner, Zacharias; Starks, Laura T (2016). Behind the scenes: the corporate governance preferences of institutional investors. Journal of Finance, 71(6):2905-2932.

2013
- Arping, Stefan; Sautner, Zacharias (2013). Did sox section 404 make firms less opaque? Evidence from cross-listed firms. Contemporary Accounting Research, 30(3):1133-1165.
- Glaser, Markus; Lopez-De-Silanes, Florencio; Sautner, Zacharias (2013). Opening the black box: internal capital markets and managerial power. Journal of Finance, 68(4):1577-1631.

2011
- Cremers, K J Martijn; Huang, Rocco; Sautner, Zacharias (2011). Internal capital markets and corporate politics in a banking group. Review of Financial Studies, 24(2):358-401.

2010
- Jostarndt, Philipp; Sautner, Zacharias (2010). Out-of-court restructuring versus formal bankruptcy in a non-interventionist bankruptcy setting. Review of Finance, 14(4):623-668.
- Arping, Stefan; Sautner, Zacharias (2010). Corporate governance and leverage: evidence from a natural experiment. Finance Research Letters, 7(2):127-134.

2009
- Sautner, Zacharias; Weber, Martin (2009). How do managers behave in stock option plans? Clinical evidence from exercise and survey data. The journal of financial research, 32(2):123-155.

2008
- Jostarndt, Philipp; Sautner, Zacharias (2008). Financial distress, corporate control, and management turnover. Journal of Banking and Finance, 32(10):2188-2204.