Aida Ćehajić, a postdoctoral researcher at the Chair of Financial Management and Capital Markets has been awarded a Lamfalussy Research Fellowship at the European Central Bank (ECB) for the research proposal "The Role of Biodiversity Risk in Shaping Bank Lending Decisions", a joint work with Karoline Bax, also a postdoctoral researcher at TUM School of Management, Center for Digital Transformation. 

About the Research Project

The research project falls into the area of financial stability due to the growing relevance of integrating environmental risks in bank risk models, and it is going to examine the extent to which banks incorporate firm-level biodiversity risk exposure into their lending decisions in terms of both volume and pricing.

About the Lamfalussy Research Fellowship programme

The Lamfalussy Research Fellowship Program was launched in 2003 by the European Central Bank, aiming to promote high-quality research on the European financial system's structure, integration, and performance. Up to five fellowships are awarded annually and each fellowship is endowed with a honorarium of €10,000. Successful candidates are required to write a research paper during their fellowship in one of the respective research areas. The program targets junior researchers at PhD, postdoc, or assistant professorship level. More information is available via this link.