Fabian Kühnhausen, Research Fellow at the MPI and PhD Candidate at the LMU Munich, received the "Outstanding Doctoral Student Paper Award" for his paper "Financial Innovation and Fragility" from the Eastern Finance Association. He presented the paper at the 2014 Annual Meeting of the Eastern Finance Association in Pittsburgh, USA.In his paper, Fabian Kühnhausen empirically investigates the relationship of innovative activity by financial services firms on their individual stability. Using a unique data set that counts financial innovation in the USA, he can show that financial innovation negatively affects firm stability.The paper is available at SSRN.
