Sasan
Mansouri

PhD student of Economics

Goethe University Frankfurt

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About Me

I am a Ph.D. student in Economics at Goethe University Frankfurt. Since 2016, I have been a research assistant at the chair of Banking and Finance. I did my undergraduate studies in Petroleum Engineering at Sharif University of Technology (SUT), Iran.

My research is focused on the topics related to the information contents of earnings conference calls, corporate disclosures, and corporate governance.

Teaching has always been a top interest in my life, and I have taught as an assistant of Master course Mergers and Acquisitions at Goethe University Frankfurt, Master course on Game Theory and bachelor courses of Micro 1 and 2 at EBS University Wiesbaden. I have also been a teacher assistant of the Undergraduate course of computer programming python at SUT.

I’m interested in the world of machine learning, and NLP coding is my number one hobby. In addition to reading books, other hobbies are bouldering, hiking, and swimming.

Best regards,

Sasan Mansouri

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Research

Let me get back to you - The economics of not answering questions

(joint with Andreas Barth, and Fabian Woebbeking)

Abstract: We develop a linguistic measure for not providing information in a question and answer setup using a Multinominal Inverse Regression (MNIR) technique. We show that our dictionary has economic relevance by applying it to contemporaneous stock market reactions after earnings conference calls. Obstructing the flow of information leads to significantly lower cumulative abnormal returns following an earnings call, both across CEOs and within CEOs over time. Our metric is designed to be of general applicability for Q&A situations, and hence, can be applied outside the contextual domain of earnings conference calls.

Link to the word-list

Web application

How to talk down your stock returns

(joint with Andreas Barth, Fabian Woebbeking, and Severin Zoergiebel)

Abstract: We analyze how senior managements' willingness to orally convey information in earnings calls affects firms' stock returns. Using a novel metric for management blathering derived by textual analysis, we show that the market punishes blathering managers, i.e. a lack of factual content in answering to investors questions. Firms, in which managers blather more, experience significantly lower cumulative abnormal returns following their earnings calls. This result corresponds to the `Obfuscation Hypothesis', which postulates that blathering increases the perceived noise of a message and, in turn, uncertainty among investors. Further, we document that blathering is particularly pronounced when earnings management is more likely, which suggests that blathering might be used as an instrument to obfuscate earnings management.

link to SSRN

Corporate Culture and Banking

(joint with Andreas Barth)

Abstract: This paper empirically analyzes the role of corporate culture in banking. We define culture based on the Competing Value Framework (Quinn and Rohrbaugh, 1983) and find that banks with a more pronounced competition-oriented culture have stronger bonus-focussed compensation schemes, while banks with a strong focus on creativity show higher bankruptcy risk. These findings suggest that risk management practices are not merely driven by incentives from compensation schemes, but rather driven by differences in corporate culture.

link to SSRN

Teachings

Here you can find more details about my teaching assistances.

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Mergers and Acquisitions Master Course

You can find the QIS page here. The syllabus and course materials are in OLAT.

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Thesis Supervision

Please feel free to contact me to discuss possible bachelor/master thesis topics. You can find the guidelines for writing a thesis in our chair in this document.

"Knowing is not enough; we must apply.

Willing is not enough; we must do."

- Johann Wolfgang von Goethe

Contact Me

House of Finance, Room 2.62

Campus Westend, Theodor-W.-Adorno-Platz 3, 60629 Frankfurt am Main

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