Finance & Insurance

Scientific excellence through interdisciplinary research and finance and insurance expertise in the Finance & Insurance Cluster

The Finance & Insurance Cluster consists of the Institute of Finance and Banking (Prof. Dr. Ralf Elsas), the Institute of Capital Markets and Corporate Finance (Prof. Dr. Markus Glaser), the Institute of Risk Management and Insurance (Prof. Dr. Andreas Richter), the Institute of Financial Innovation and Technology (Prof. Dr. Ryan Riordan), and the Professorship for Behavioral Risk Management and Insurance (Prof. Dr. Johannes Jaspersen). There is an affiliation with the Munich Risk and Insurance Center (MRIC) and the LMU-ifo Economics & Business Data Center (EBDC).

Aim of the research at the Institute for Finance & Banking is to make considerable contributions to current issues in the areas of Finance and Banking. Our research activities are mainly quantitatively-empirically oriented. In academic teaching the focus is on theory-based empirical research in the areas of Finance and Banking as well as to provide quantitative methods.

The Institute for Capital Markets and Corporate Finance conducts research and teaching concerned with the organization and function of capital markets, as well as with invest­ment and financing decisions at the firm level. In addition to that, the field of behavioral finance deals with capital market phenomena that cannot be explained by the rational behavior of market participants.

The Institute for Risk Management and Insurance is committed to research and teaching activities related with insurance economics, insurance law, and actuarial science. The institute offers a wide range of courses that cover fundamental principles of economics and insurance as well as current economic and managerial problems related to risk management and insurance. In addition to academic ambitions, the institute places great emphasis on industry contacts. Therefore, the range of classes is complemented by applied courses taught by senior executives from the insurance industry. The institute's research interests include insurance theory, catastrophe risk and climate risk management, risk classification, insurance fraud, and risk aversion.

The Institute for Financial Innovation and Technology (FinTech) at LMU Munich School of Management conducts academically rigorous, relevant and exciting research and teaching in the domain of financial innovation and technology. We cover topics like high frequency trading, cryptocurrencies, financial data science and the application of machine learning in capital markets. We present our research at international conferences and publish in leading journals. We will also collaborate directly with the financial industry and the local FinTech scene.

The Professorship for Behavioral Risk Management and Insurance focuses both research and teaching on behavioral aspects of decisions under risk and uncertainty in general, and on insurance markets in particular. The aim is to gain insights into people’s decision-making, to explain it theoretically, and to apply the gained insights to decisions in insurance markets, operational risk management and national security.

Teaching Content

We offer regular courses in the fields of capital markets, corporate finance, and in behavioral finance. Special classes and seminars are provided to cover more specific and current topics in these areas of finance.

The fields of capital markets and corporate finance make use of both theoretical methods in finance and empirical methods in modern financial econometrics and statistics. The subject of capital markets and corporate finance is therefore suited for students interested in both empirical and theoretical problem-solving.

Main research topics

  • Asset Pricing
  • Behavioral Finance
  • Corporate Finance
  • Sustainable Finance
  • Insurance Economics
  • Household Finance