Research Fields

Banking, Corporate Finance, FinTech, Political Economy

My Google Scholar profile (more than 3,500 citations)

Refereed Publications

Lobbying on Regulatory Enforcement Actions: Evidence from U.S. Commercial and Savings Banks, Management Science, 2019, 65, 2545-2572.

Presented at the 2017 Chicago Booth Stigler Center Conference on the Political Economy of Finance, EFA 2016, SFS Cavalcade 2015, FIRS 2015, ALEA 2015

Winner of the Best Paper Award at the 2016 Emerging Scholars in Banking and Finance Conference, Cass Business School

Featured in Cato Research Briefs in Economic Policy 117

Collective Bargaining and Mergers and Acquisitions Activity around the World, with Farooq Ahmad, Journal of Banking and Finance, 2019, 99, 21-40.

Presented at the AEA 2017, CICF 2016

The Political Economy of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries, with Hans Degryse and Armin Schwienbacher, Economic Journal, 2018, 128, 1433-1475.

Presented at the AEA 2015, EFA 2014, 2014 EBC-CEPR Financial Stability Conference, ALEA 2014

Covered in The EHS Long Run Blog

Crowdfunding: Tapping the Right Crowd, with Paul Belleflamme and Armin Schwienbacher, Journal of Business Venturing, 2014, 29, 585-609. Lead article

Winner of the 2017 Emerald Citations of Excellence Award

Winner of the 2015 LSM-UCLouvain Research Excellence Award

Working Papers

Crowdfunding Dynamics, with Paul Belleflamme and Armin Schwienbacher

Presented at the 2019 Toronto FinTech Conference, 2019 Conference on FinTech and Digital Finance, 2019 ABFER Annual Conference (Corporate Finance), AEA 2020, 2020 Edinburgh Conference on the Economics of Financial Technology, 2020 Barcelona GSE Entrepreneurship Workshop

Featured in Machine Lawyering, Coalition Theory Network

Winning Connections? Special Interests and the Sale of Failed Banks, with Deniz Igan, Wolf Wagner and Eden Zhang

Presented at the 2018 Chicago Booth Stigler Center Conference on the Political Economy of Finance, 2018 CEPR Swiss Winter Conference on Financial Intermediation, 2018 Chicago Financial Institutions Conference, 2018 MoFiR Workshop on Banking, 2018 ISB Summer Research Conference in Finance, 2018 Oxford Conference on the Political Economy of Finance, 2019 Marstrand Finance Conference, EFA 2019

Covered in VoxEU, Oxford Business Law Blog

Liquidity Creation, Investment, and Growth, with Thorsten Beck, Robin Dottling and Mathijs van Dijk (COMING SOON)

Security Token Offerings, with Daniel Liebau and Peter Roosenboom (COMING SOON)

Chapters in Books

Bank Lobbying: Regulatory Capture and Beyond, with Deniz Igan, 2019, in Emilios Avgouleas and David Donald, eds.: The Political Economy of Financial Regulation (Cambridge University Press).

Endogenous Political Institutions and Financial Development, with Paolo Volpin, 2018, in Thorsten Beck and Ross Levine, eds.: Handbook of Finance and Development (Edward Elgar).

Covered in Oxford Business Law Blog

The Crowd-Entrepreneur Relationship in Startup Financing, with Aleksandrina Ralcheva and Peter Roosenboom, 2018, in Douglas Cumming and Lars Hornuf, eds.: The Economics of Crowdfunding: Startups, Portals, and Investor Behavior (Palgrave Macmillan).

Effets de réseau et financement participatif : une analyse empirique, with Paul Belleflamme and Armin Schwienbacher, 2018, in François Moreau and Yann Nicolas, eds.: Financement participatif : une voie d'avenir pour la culture ? (Presses de Sciences Po).

An Industrial Organization Framework to Understand the Strategies of Crowdfunding Platforms, with Paul Belleflamme, 2016, in Jérôme Méric, Isabelle Maque, and Julienne Brabet, eds.: International Perspectives on Crowdfunding (Emerald).


Comptabilité et analyse des états financiers. Exercices et corrigés, with Loic Decaux and Yannick de Harlez (De Boeck: Brussels), 2014, 132 pages.

Second Edition (2016): Comptabilité et analyse des états financiers. Principes, applications et exercices (De Boeck: Paris), 448 pages.


Essays on the Political Economy of Finance

Winner of the Banque de France Foundation Best Thesis in Monetary and Financial Economics Prize

Winner of the European Association for Comparative Economic Studies Best Thesis Award

Winner of the French Finance Association (AFFI-FNEGE) Best Finance Thesis Award

Recent Discussions

Who Pays a Visit to Brussels? Cross-Border Firm Value Effects of Meetings with European Commissioners, by Kizkitza Biguri and Joerg Stahl, 2019 EFA Meetings.

Financing Legislators, by Renée Adams and Thomas Mosk, 2019 IWH-FIN-FIRE Workshop on Challenges to Financial Stability.

The Effects of Credit Supply on Wage Inequality between and within Firms, by Christian Moser, Farzad Saidi and Benjamin Wirth, 2018 CEPR Endless Summer Conference on Financial Intermediation and Corporate Finance.

The Effect of Bank Supervision on Risk Taking: Evidence from a Natural Experiment, by John Kandrac and Bernd Schlusche, 2018 EFA Meetings.

Political Lending Cycles and Real Outcomes: Evidence from Turkey, by Cagatay Bircan and Orkun Saka, 2018 CEPR Swiss Winter Conference on Financial Intermediation.

The Value of Offshore Secrets: Evidence from the Panama Papers, by James O’Donovan, Hannes Wagner and Stefan Zeume, 2017 EFA Meetings.

Finance and Inequality: The Distributional Impacts of Bank Credit Rationing, by Ali Choudhary and Anil Jain, 2016 EFA Meetings.