Bauer, RMMJ (Rob)


Expertise

Pension funds, strategic investment policy, mutual fund performance, responsible investing, shareholder activism and corporate governance.

Co-founder and leader of the GSBE research theme Sustainable Development https://www.maastrichtuniversity.nl/research/sustainable-development

See all SBE research themes:
https://www.maastrichtuniversity.nl/research/institutes/gsbe/gsbe-research


Career History

Rob Bauer is Professor of Finance (chair: Institutional Investors) at Maastricht University School of Business and Economics in The Netherlands. His academic research is focused on pension funds, strategic investment policy, mutual fund performance, responsible investing, shareholder activism and corporate governance. Rob publishes regularly in professional and academic journals and is a frequent speaker on national and international conferences. Rob is also Director of the European Centre for Corporate Engagement (ECCE) at Maastricht University, and Executive Director of the International Centre for Pension Management (ICPM) in Toronto. Rob is also founder and managing director of Rob Bauer Consultants in which he advises and supports institutional investors on topics related to strategic investments.


Research Profile

Research can be found at:

http://www.corporate-engagement.com/author/14

http://papers.ssrn.com/sol3/results.cfm?RequestTimeout=50000000


Research Projects

Inquire Europe:
- “Stock Market Volatility”, funded between 1994 and 1996 and presented at the Inquire Meeting in Lausanne, 1998. Co-funded by Deutsche Forschungsgemeinschaft (DFG).
- “Socially Responsible Investing” (with Roger Otten and Kees Koedijk), funded between 2002 and 2005, presented at the Inquire Meetings in Stockholm and Dublin.

European Science Foundation (ESF):
- “Converging Corporate Governance in Europe” (with Gordon Clark, Oxford University), funded in 2004, organization of a conference in Oxford in 2004.

Netspar:
- Private Retirement Provisions”, Program Manager Prof. Dr. Peter Schotman, funded between 2005 and 2008.

Mistra (Sweden):
- Program Manager: Prof. Dr. Rob Bauer
- “The Role of Institutional Investors and Financial Markets in Sustainable development”, co-funding of the Inquire project, between 2006 and 2008 (0.6 million euro).
- Refunding for the period 2009 until 2012 (1 million euro).

International Centre for Pension Management (ICPM):
- “The Performance of US Pension Funds: New Insights in the Agency Cost Debate”, funding in 2006.
- Commissioned Case Study on Fiduciary Management in 2009.
- “Pension Fund Size, Asset Allocations and Performance”, funding in 2010 (with Martijn Cremers from Yale and Aleksandar Andonov).
- Commissioned Case Study on Climate Change and Pension Funds in 2010.


Publications

Bauer, R., T.Busch and M. Orlitzky, (2015), “Sustainable Development and Financial Markets: Old Paths and New Avenues”, Business & Society, forthcoming.

Smeets, P., Bauer, R. and U. Gneezy (2015), “Giving Behavior of Millionaires?”, Proceedings of the National Academy of Sciences of the United States of America (PNAS),forthcoming.

Bauer, R., F. Moers and M. Viehs (2015), “Who Withdraws Shareholder Proposals and Does it Matter? An Analysis of Sponsor Identity and Pay Practices”, Corporate Governance: An International Review, forthcoming.

Bauer, R. and P. Smeets (2015), “Social Identification and Investment Decisions”, Journal of Economic Behavior and Organization, 117, pp. 121-134.

Aziakpono, M., R. Bauer and S. KLeimeier (2014), “Editiorial: Financial Globilisation and Sustainable Finance: Implications for Policy and Practice”, Journal of Banking and Finance, 48, pp. 137 – 138.

Ambachtsheer, K. and R. Bauer (2013), “Ten Strategies for Pension Funds to Better Serve Their Beneficiaries”, Rotman International Journal of Pension Management, 6:2, pp. 44-52.

Bauer, R., and R. Braun (2012), Misdeeds matter: Long-Term Stock Price Performance After the Filing of Class-Action Lawsuits, Chapter 9 in: Poff, Deborah C., Michalos, Alex C. (eds.), “The Next Generation of Responsible Investing”, pp. 173-198, Springer publishers.

Maatman, R., R. Bauer, D. Busch and L. Verburg (2011), in “Onderneming en Pensioen”, Chapter 29, Serie Onderneming en Recht, Kluwer Publishers.

Maatman, R., R. Bauer, D. Busch and L. Verburg (2011), in “Onderneming en Pensioen”, Chapter 1, Serie Onderneming en Recht, Kluwer Publishers.

Maatman, R., R. Bauer, D. Busch and L. Verburg (eds.) (2011), “Onderneming en Pensioen”, Serie Onderneming en Recht, Kluwer Publishers.

Bauer, R., and J. Derwall (2011), “Values-driven and Profit-Seeking Dimensions of Environmentally Responsible Investing”, Chapter 25 in the Oxford Handbook on Business and the Environment (editors: Tima Bansal and Andy Hoffmann), Oxford University Press.

Bauer, R., P. Eichholtz, N. Kok and J. Quigley (2011), “How Green is Your Property Portfolio? The Global Real Estate Sustainability Benchmark”, Rotman International Journal of Pension Management, 4:1, pp. 34-43.

Günster, N., J. Derwall, R. Bauer and K. Koedijk (2011), “The Economic Value of Corporate Eco-Efficiency”, European Financial Management, 17:4.

Bauer, R. and R. Braun (2010), “Misdeeds Matter: Long-Term Stock Price Performance of Firms after the Filing of Class-Action Lawsuits”, Financial Analysts Journal, 61:2, pp. 51-63.

P. Eichholtz, N. Kok and R. Bauer (2010), “Duurzaamheid van de Vastgoedsector”, ESB, April, pp. 266-268.

Bauer, R. and H. Hummels (2010), “Pension Funds and Sustainable Investment: Return and Risk?”, chapter in: Handbook of Emerging Issues in Corporate Governance, edited by Alireza Tourani-Rad and Coral Ingley, Auckland University (AUT), pp. 169-180, World Scientific Publishers.

Bauer, R., P. Eichholtz and N. Kok (2010), “Corporate Governance and Performance: The REIT Effect”, Real Estate Economics, 38:1, Spring, pp. 1-29.

Bauer, R., M. Cosemans and P. Schotman (2010), “Conditional Asset Pricing Models and Stock Market Anomalies in Europe”, European Financial Management, 16:2, March, pp. 165-190.

Bauer, R., M. Cosemans and P. Eichholtz (2009), “Option Trading and Individual Investor Performance”, Journal of Banking and Finance, 33:4, pp. 731 – 746.

Bauer, R. and L. Kicken (2008), “The Pension Fund Advantage: Are Canadians Overpaying their Mutual Funds?”, Rotman Journal of Pension Management, 1, pp. 64-71.

Bauer, R. and H. Hummels (2008), “Pensioenfondsen en Verantwoord Beleggen: Rendement en Risico?”, Tijdschrift voor Pensioenvraagstukken, April:2, pp. 28-32.

Bauer, R. (2008), “Verantwoord Beleggen: De Hype Voorbij?”, Inaugural speech for the acceptance of the chair Institutional Investors, Faculty of Economics and Business Administration, Maastricht University.

Bauer, R., R. Braun and G. Clark (2008), “The Emerging Market for European Corporate Governance: The Relationship between Governance and Capital Expenditures, 1997-2005”, Journal of Economic Geography, 8:4, pp. 441-469.Bauer, R., M. Cosemans, P. Eichholtz and M. Goldfinger (2007), “De Prestaties van Particuliere Beleggers”, ESB, April, pp. 228-231.

Bauer, R., B. Frijns, R. Otten and A. Tourani Rad (2008), “The Impact of Corporate Governance on Corporate Performance: Evidence from Japan”, Pacific Basin Finance Journal, 16, pp. 236 - 251.

Ambachtsheer, K. and R. Bauer (2007), “Losing Ground: Do Canadian Mutual Funds Provide Fair Value for their Customers?”, Canadian Investment Review, Spring, pp. 8-14.

Clark, G., D. Wojcik and R. Bauer (2007), “Cross-Listing and the Market for Governance”, Chapter 6 in The Geography of Finance: Corporate Governance in the Global Marketplace (editors: Gordon Clark and Dariusz Wojcik), pp. 133-160, Oxford University Press.

lark, G., D. Wojcik and R. Bauer (2007), “Global Financial Markets as Standard Setters”, Chapter 7 in The Geography of Finance: Corporate Governance in the Global Marketplace (editors: Gordon Clark and Dariusz Wojcik), pp. 161-180, Oxford University Press.

Bauer, R., R. Molenaar, T. Steenkamp and E. Vrugt (2007), “Dynamic Commodity Trading Strategies”, Chapter 16 in: Intelligent Commodity Investing: New Strategies and Practical Insights for Informed Decision Making, Risk Books, London.

Bauer, R., J. Derwall, and R. Otten (2007), “The Ethical Mutual Fund Performance Debate: New Evidence from Canada”, Journal of Business Ethics, 70, pp. 111-124.

Nalbantov, G., R. Bauer and I. Sprinkhuizen-Kuyper, (2006) “Style Timing using Support Vector Regressions”, Applied Financial Economics, 16, pp. 1095-1111.

Bauer, R. and H. Hummels (2006), “Van Stille Kracht naar Stille Macht: Pensioenfondsen in Gesprek met Ondernemingen over Corporate Governance en Maatschappelijk Handelen”, Maart, van Gorcum, Netherlands.

Bauer, R., R. Otten and A. Tourani Rad (2006), “New Zealand Mutual Funds: Measuring Performance and Persistence”, Accounting and Finance, 46:3, pp. 347-363.

Bauer, R., R. Otten and A. Tourani Rad (2006), “Ethical Investing in Australia: Is There a Financial Penalty?”, Pacific Basin Finance Journal, 14:1, pp. 33-48.

Bauer, R., R. Hoevenaars and T. Steenkamp (2006), “Asset Liability Management”, Chapter 21 in The Oxford Handbook of Pensions and Retirement Income (editors: Gordon Clark, Alicia Munnell and Mike Orszag), Oxford University Press.

Clark, G., D. Wojcik and R. Bauer (2006), “Corporate Governance, Cross-Listing, and Managerial Response to Stock Price Discounting: Royal Ahold and Market Arbitrage – Amsterdam and New York, 1973 – 2004”, Journal of Economic Geography, 6:3, pp. 303-322.

Derwall, J., N. Günster, R. Bauer and K. Koedijk (2005), “The Eco-Efficiency Premium Puzzle”, Financial Analysts Journal, 61:2, pp. 51-63.

Bauer, R. and T. Steenkamp (2005), “Beleggen Pensioenfondsen Te Veel in Aandelen?”, in: Bauer, R., J. Kuné, R. Maatman, J. Mensonides, T. Steenkamp and M. Sturmans (eds.), “Vergezichten: Over Beleggen, Pensioenen en Toezicht”, pp. 53-60, Riskmatrix publishers.

Bauer, R., J. Kuné, R. Maatman, J. Mensonides, T. Steenkamp and M. Sturmans (eds.) (2005), “Vergezichten: Over Beleggen, Pensioenen en Toezicht”, Riskmatrix publishers.

Bauer, R., K. Koedijk and R. Otten (2005), “International Evidence on Ethical Mutual Fund Performance and Investment Style”, Journal of Banking and Finance, 29, pp. 1751-1767.

Bauer, R., P. Frentrop, N. Günster and H. de Ruiter (2004), “Corporate Governance: A Review of the Debate in The Netherlands and Empirical Evidence on the Link with Financial Performance”, VBA Journaal, 20:4, pp. 19-34.

Bauer, R., R. Haerden and R. Molenaar (2004), “Asset Allocation in Stable and Unstable Times”, Journal of Investing, 13:3, pp. 72-80.

Bauer, R., N. Günster and R. Otten (2004), “Empirical Evidence on Corporate Governance in Europe: The Effect on Stock Returns, Firm Value and Performance”, Journal of Asset Management, 5:2, pp. 91-104.

Bauer, R., J. Derwall, and R. Molenaar (2004), “The Real-Time Predictability of the Size and Value Premium in Japan”, Pacific Basin Finance Journal, 12, pp. 503-523.

Bauer, R. and N. Günster (2003), “Goed bestuur loont voor beleggers”, ESB, May 2003, pp. 202-204.

Bauer, R. and T. Steenkamp (2002), “Risk budgeting bij pensioenfondsen in theorie en praktijk”, in: Pensioenwetenschap en Management van Pensioen (editor: J.B. Kuné), Stichting Pensioenfonds ABP.

Bauer, R. and T. Steenkamp (2001), “Risk Budgeting en (actieve) asset allocatie: de ABP case”, VBA Journaal, 17:1, pp. 2-8.

Bauer, R. and R. Otten (1999), “The Virtues of Equity Style Management for Investment Decisions: The Plan Sponsor Perspective”, VBA Journaal, 15:1, pp. 13-14.

Bauer, R. and R. Mahieu (1998), “A Bayesian Analysis of Stock Return Volatility and Trading Volume”, Applied Financial Economics, 8, pp. 671-687.

Bauer, R. (1997), “Stock Market Dynamics: An Empirical Investigation of the Relationship between Stock Return Volatility and Trading Volume”, Universitaire Pers, Maastricht.

Bauer, R. and W. van den Burg (1996), “Beleggen: Sprint of Marathon?”, VBA Journaal, 12:3, pp. 19-21.

Bauer, R. and F. Nieuwland (1995), “A Multiplicative Model for Volume and Volatility”, Applied Mathematical Finance, 2, pp. 135-154.

Bauer, R., F. Nieuwland and W. Verschoor (1994), “German Stock Market Dynamics”, Empirical Economics, 19, pp. 397-418.
 


Teaching

Course Institutional Investments at the School of Business and Economics at Maastricht University in:
- Master of Financial Economics
- Master of International Business
- Master of Marketing & Finance

Post-graduate education at Maastricht University, Duisenberg School of Finance, Rotman School of Management, and in-house training in institutional investments

Case studies Rotman School of Management, University of Toronto:
- Fiduciary management: a next logical step in the evolution of pension management? (2009)
- Climate change and pension funds: risk, opportunity or distraction? (2010)

 


Work for third parties

  • Member Academic Advisory Board at PGGM

Other activities

Executive Director of the International Centre for Pension Management (ICPM) in Toronto

Managing Director and Owner of Rob Bauer Consultants BV (advise institutional investors, mainly pension funds, provinces and charities)

Member of the Investment Committee of Bedrijfstakpensioenfonds Detailhandel

Member of the Advisory Board of Meesman Index Investments

Member of the Academic Advisory Board of Stichting Philips Pension Fund

Member of the Advisory Board of Arabesque Asset Management

Member Academic Advisory Board at PGGM

       Representing UM School of Business and Economics:

Member of the Investment Committee of Elisabeth Strouven (a Maastricht based charity organization)

Member of the Board of the Stichting Wetenschappelijk Onderzoek Limburg (SWOL)


Additional roles & tasks

Professor of Finance, Institutional Investors chair

Director of the European Center for Sustainable Finance (ECCE)