Department of International Economics, Government and Business

Professor with special responsibilities

Room: POR/24.A-2.55

My research interests revolve around understanding managerial choices. In one of my projects, I elicit risk preferences of U.S. executives from their option exercising behavior and use these data to explain sorting into certain economic environments and risk-taking decisions. I am also interested in the social and moral constraints of top executives pay that result from the institutional and individual environment to which the manager is exposed to. More recently, I am using phenotypic information of top decision takers to predict their financial choices.

Primary research areas
  •  Managerial behavior
  •  Top executive wages
  •  Neurobiology and economic behavior
  •  Social online networks and job outcomes
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Corporate Governance (Advanced Finance & Economics)
Corporate Governance (Master's and BA levels)


Various topics in corporate finance, behavioral finance, industrial organization and strategic management

Selected publications
  • Self-disclosure at international cartels, Journal of International Business Studies, 2011, 42, 221-234.
  • On the irrelevance of insider trading for managerial compensation, European Economic Review, 2011, 55(2), 293-303.
  • An empirical study of the European corporate leniency program, International Journal of Industrial Organization, 2009, 27(6), p.639-645.
  • Legal institutions, director liability, and top executive pay, Corporate Governance: An International Review, 2009, 17(1), p.1-13.
  • An optimal mechanism of patent pool formation, Economic Theory, 2009, 40(3), p.373-388.
Publications sorted by:
Jean-Philippe Vergne; Georg Wernicke; Steffen Brenner / Signal Incongruence and Its Consequences : A Study of Media Disapproval and CEO Overcompensation.
In: Organization Science, Vol. 29, No. 5, 9.2018, p. 796-817
Journal article > peer review
Jean-Philippe Vergne; Georg Wernicke; Steffen Brenner / Smoke Signal or Smoke Screen? : Why the Media Do Not Disapprove Equally or Overpaid CEOs.
Paper presented at The 15th European Academy of Management Conference (EURAM) 2015, 2015
Paper > peer review
Steffen Brenner / The Risk Preferences of U.S. Executives
In: Management Science, Vol. 61, No. 6, 2015, p. 1344-1361
Journal article > peer review
Steffen Brenner / Location (Hotelling) Games and Applications
In: Wiley Encyclopedia of Operations Research and Management Science. ed. /James J. Cochran; Louis Anthony Cox Jr.; Pinar Keskinocak; Jeffrey P. Kharoufeh; J. Cole Smith . : Wiley 2011
Encyclopedia chapter > peer review
Steffen Brenner / On the Irrelevance of Insider Trading for Managerial Compensation
In: European Economic Review, Vol. 55, No. 2, 2011, p. 293-303
Journal article > peer review
Steffen Brenner / Self-Disclosure at International Cartels
In: Journal of International Business Studies, Vol. 42, No. 2, 2011, p. 221-234
Journal article > peer review
Steffen Brenner / Passive Shareholders and Active Managers : An Empirical Test of Admati and Pfleider's Hypothesis.
In: Applied Financial Economics, Vol. 20, No. 4, 2010, p. 275-291
Journal article > peer review