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.
Abstract: It is relatively easy for us humans to detect that a question we asked has not been answered - we teach this skill to a computer. More specifically, we develop a measure that detects the rejection, avoidance or dodging of a question. Using a supervised machine learning framework on a large training set of 48,197 classified responses to questions, we identify 703 trigrams that signal whether or not the respondent tries to avoid answering. We show that this dictionary has economic relevance by applying it to a validation set of contemporaneous stock market reactions after earnings conference calls. Our findings suggest that obstructing the flow of information leads to significantly lower cumulative abnormal stock returns and higher implied volatility. Our metric is designed to be of general applicability for Q&A situations, and hence, can be applied outside the contextual domain of financial earnings conference calls.
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.
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.
Here you can find more details about my teaching assistances.
You can find the soloutions' notebook here.
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.