Loading...
hidden

View Mobile version

Meta navigation

Startseite – Hochschule Luzern

Language selection and important links

  • Contents
  • Contact
  • Login
  • De
  • En
Search

Main navigation

School navigation

  • Engineering and Architecture
  • Business
  • Computer Science
  • Social Work
  • Art and Design
  • Music

Sub-navigation

  • Degree Progr.
  • Cont. Education
  • Research
  • Topics
  • Institutes
  • International
  • Campus
  • About us

Sub-navigation

  • When students publish in academic journals
  • The MSc in Banking and Finance on a study trip to the capital city
  • Congratulations to our graduates!
  • Congratulations to our graduates
  • Financial Times Ranking
  • From Hong Kong to Switzerland
  • London study trip
  • Review of the fall semester 2021
  • Students’ paper "Rental value taxation of owner-occupied properties
  • From the Ski Slopes to the Class Room
  • When students publish in academic journals
  • MSc in Banking and Finance is now part of the CFA Institute Affiliation Program
  • Congratulations to our 2020 graduates!
  • When students publish in academic journals
  • Meet our new campus

Breadcrumbs

  1. Lucerne School of Business Lucerne School of Business
  2. Degree Programmes Degree Programmes
  3. Master's Master's
  4. Banking and Finance Banking and Finance
  5. Insights Insights
  6. When students publish in academic journals When students publish in academic journals

When students publish in academic journals

Our students published three articles in peer-reviewed journals in the last few months. In a series of three short interviews, we will show you how such a success was possible and what challenges our students faced. Today: Daniel Sutter explains how the expansionary policy of the European Central Bank positively impacted the prices of Swiss stocks.

Sutter Daniel

Part 2: Daniel Sutter (Graduate MSc in Banking and Finance 2021, currently Graduate Analyst at Berenberg, Wealth and Asset Management)

What did you find out in your research paper?
Our paper focuses on the impact of the European Central Bank's (ECB) monetary policy on the Swiss stock market (1999-2019). The results suggest that expansionary monetary policy shocks lower expected risk premia and increases future expected dividends by stimulating the output and profits of companies. This effect leads to the observed positive impact on firms' stock prices. However, in our work, we also found that conventional monetary policy measures only had a statistically significant impact on the Swiss stock market before the 2008 financial crisis.

Why are your findings relevant?
Our paper extends the literature on so-called "monetary spillover effects." Previous research has focused on spillovers to emerging markets or large advanced economies. There is limited evidence on spillovers to equity markets in small, advanced, and open economies such as Switzerland. The constellation of the Swiss stock market, which is dominated by companies closely linked to the Euro area, and the introduction of a minimum exchange rate of 1.20 CHF per euro in 2011 by the Swiss National Bank provides an ideal environment to study the impact of ECB monetary policy shocks.

How does a master's thesis become a publication in a peer-reviewed journal?
After I graduated from the Lucerne University of Applied Sciences and Arts, I received a call from Dr. Jürg Fausch, who supervised my thesis. He asked me if we wanted to develop the master's thesis into a publication in a scientific journal. Following my acceptance, we immediately began condensing the main results of my master's thesis. To check the robustness of the results, Jürg implemented another econometric method, which confirmed the original findings of the thesis. After multiple draft versions, we were finally satisfied with the quality of the paper and submitted it to the journal Applied Economics Letters.

How did you experience the peer review process?
After our first submission, we received a so-called "Revise & Resubmit", which is a good sign. It means that a "referee" who had read the paper for review and consideration brought up comments and suggestions that we should consider in the revision of the paper. After we included these, we resubmitted the revised paper, which was accepted for publication. 

What did your education in the MSc in Banking and Finance contribute to the publication?
In addition to the methodological skills, I benefitted from the close exchange with the lecturers and the comparatively small classes. The gradual preparation for the master's thesis through several practical term papers was another component that helped me a lot.

What did you learn from writing a thesis for your professional future?
It is worth staying curious and dealing intensively with one specific topic is great fun. It was also satisfying to see how the research project ended successfully.

Footer(s)

FH Zentralschweiz

Social media links

  •  Facebook
  •  Instagram
  •  Twitter
  •  LinkedIn
  •  YouTube
  •  Flickr

Contact

Logo School of Business

Lucerne

School of Business
Bachelor's and Master's Secretariat

Zentralstrasse 9
- 6002 Lucerne

+41 41 228 41 30

ausbildung.wirtschaft@hslu.ch

AACSB Accredited Logo

Direct entry

  • Prospective Students (Degree Programmes)
  • Prospective Students (Continuing & Executive Programmes)
  • For Students
  • For Members of Staff
  • Media Relations

Quick link

  • People Finder
  • University Buildings & Campus Locations
  • Institutes
  • Library
  • Hiring Rooms
  • Jobs & Karriere

Static links

  • Newsletter
  • Data protection notice
  • Publishing Acknowledgements
Logo Swissuniversities

QrCode

QrCode
We use cookies on this site to give you the best browsing experience. By continuing to navigate this site or closing this banner you accept this use of cookies. For more information please visit our privacy policy.
OK