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Welcome to the CFR!

The Centre for Financial Research (CFR) is a research institute at the University of Cologne and conducts independent, cutting-edge research of practical relevance in the area of financial markets. 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!



We are proud to welcome Paula Kirsch and Andre Vieren at the CFR. Paula Kirsch and Andre Vieren are research assistants and PhD students at the Department of Finance at the University of Cologne.
Journal-of-Empirical-FinanceThe CFR Working Paper No. 19-06 "Small Is Beautiful? How the Introduction of Mini Futures Contracts Affects the Regular Contract" by Stefan Greppmair and Erik Theissen has been accepted for publication in Journal of Empirical Finance.
We are proud to welcome Yannick Voshardt at the CFR. Yannick Voshardt is research assistant and PhD student at the Department of Finance at the University of Cologne.
Review of Financial StudiesThe CFR Working Paper No. 21-11 "Redemption in Kind and Mutual Fund Liquidity Management" by Vikas Agarwal, Honglin Ren, Ke Shen and Haibei Zhao has been accepted for publication in The Review of Financial Studies.
Journal of Banking and FinanceThe CFR Working Paper No. 18-02 "Trust and Monitoring" by Simon Lesmeister, Peter Limbach and Marc Goergen has been accepted for publication in the Journal of Banking and Finance.
Review of FinanceThe CFR Working Paper No. 21-09 "Private Company Valuations by Mutual Funds" by Vikas Agarwal, Brad Barber, Si Cheng, Allaudeen Hameed and Ayako Yasuda has been accepted for publication in Review of Finance.

Responsible for content in the sense of § 18 para. 2 MStV:
Dr. Alexander Pütz
Centre for Financial Research (CFR)
50923 Köln

CFR Research Seminar

On Thursday, February 2nd, 2023, Emirhan Ilhan (National University of Singapore) will give a talk in our CFR Research Seminar. The topic is: "Sea Level Rise and Portfolio Choice". The event will start at 4pm via Zoom. If you want to join the seminar, please write an email to Dr. Alexander Puetz ( You can find the whole program of the CFR Research Seminar here.

CFR Student Group Events

In the winter semester 2022/23, the CFR Student Group will again organize practical lectures for Cologne students. You can find the lectures already planned so far here. The list is constantly updated.

Data and Programs on "Open Source Cross Sectional Asset Pricing"

In CFR Working Paper 20-04, Prof. Tom Zimmermann and Prof. Andrew Y. Chen compile an extensive data set to reproduce 315 cross-sectional stock return predictors. The data set and the associated programs can be downloaded here:


Sponsors CFR Assistant Professorship Sustainable Finance

We would especially like to thank the sponsors whose donations made it possible to establish the Assistant Professorship for Sustainable Finance at the University of Cologne: | © 2004-2023 | webmaster