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Finance & Insurance

The Cluster "Finance & Insurance" comprises the Institute for Finance & Banking (Prof. Dr. Ralf Elsas), the Institute for Capital Markets and Corporate Finance (Prof. Dr. Markus Glaser) and the Institute for Risk Management and Insurance (Prof. Dr. Andreas Richter).

The institutes deal with financial and risk theory interrelationships in companies, insurance companies and banks. Financial and insurance related issues, as for example the development of capital markets, financial decision-making situations, as well as insurance related and behavioral economic questions are being theoretically, empirically and experimentally investigated. Specific topics are, for example, gaining and maintaining the optimal capital structure, behavioral influences regarding investment decisions and on financial markets as well as the theory of insurance demand and the management of catastrophe and terrorism risks.

In teaching, importance is attached to both theoretical and practice-oriented training and education. At undergraduate level, the cluster offers as part of the "Finance & Insurance" specialization optional compulsory modules in which more complex contexts are made understandable in lectures like Corporate Finance, Commercial Banking and Risk and Insurance. Master courses further increase the knowledge of the students among others in fields like Advanced Risk Management, Behavioral Finance and Insurance Economics. A variety of seminars address current issues at Bachelor and Master level. Moreover, practice-oriented lectures held by external lecturers from the industry offer students the possibility to expand their applicaton focus of the acquired knowledge. Last but not least, the cluster offers courses at Bachelor level in the course of General Business Administration, the Executive Master of Insurance (EMI) and participates in the doctorate preparatory program Master of Business Research (MBR) and the inter-university European Triple Degree in Management.

The "Finance & Insurance" cluster is involved in the Economics & Business Data Center (EBDC) which serves as coordination center for scientific databases of the Faculty of Business Administration and the Faculty of Economics at the LMU Munich. The aim is to develop new fields for the empirical economic and business research. In this sense, it provides innovative data records of German companies which contain survey data of the Ifo Institute on the one hand and external balance sheet data of the company databases Amadeus and Hoppenstedt. The Munich Risk and Insurance Center (MRIC), headed by the chairholder of the Institute for Risk Management and Insurance, serves as communication platform for the exchange between theory and practice and the establishment of an international focus in the insurance and risk management research. The Center was founded in 2010 with support from the Münchner Versicherungswirtschaft (Munich insurance industry), the Bayerischen Staatsministerium für Wissenschaft, Forschung und Kunst (Bavarian State Ministry for Science, Research and the Arts) and the LMU Munich.
Furthermore, the Cluster is also involved in MELESSA, the Munich Experimental Laboratory for Economic and Social Sciences.