PhD defence: Alexander Kronies

In order to obtain the PhD degree, Alexander Kronies has submitted his thesis entitled: Opportunities and Risks in Alternative Investments

Mandag, 20 december, 2021 - 13:00 to 15:00


This thesis concerns alternative investments in equity and energy markets. The first chapter (with Andreas Brøgger) documents that only some investors with skill earn high returns when investing sustainably. In the second chapter, I provide evidence that large wind turbines outperform their smaller peers as they yield higher cash flows per production unit. Finally, chapter three shows that the allocation of private capital to renewable energy projects is largely driven by subsidy structures and very specific risk exposures.

Primary Supervisor:
Professor Ken Bechmann
Department of Finance
Copenhagen Business School

Secondary Supervisor:
Fund Manager Lars Christian Gaarn-Larsen
Energi 30
Assessment Committee:

Professor Kristian Miltersen (Chair)
Department of Finance
Copenhagen Business School

Associate professor Jøril Mæland
Norwegian School of Economics

Wharton Private Equity Professor Bilge Yilmaz
The Wharton School , University of Pennsylvania

The thesis will be available from

Due to latest Covid19 restrictions the CBS PhD School will unfortunately not be allowed to host a reception.

Organised by CBS PhD School
Date 20 December 2021
Time 13:00 - 15:00
Location Copenhagen Business School
Solbjerg Plads
2000 Frederiksberg
Room: SPs12 Ørsted Aud

It will also be possible to attend the defence via Microsoft Teams by clicking here

*Please note in connection with the online defence that the microphone and camera of all spectators must be turned off!


Sidst opdateret: Sekretariat for Ledelse og Kommunikation // 11/07/2023