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Prof. Dr. Robert Gutsche

Prof. Dr. Robert Gutsche

Prof. Dr. Robert Gutsche

ZHAW School of Management and Law
Fachstelle Corporate Finance and Capital Markets
Technoparkstrasse 2
8400 Winterthur

+41 (0) 58 934 73 07
robert.gutsche@zhaw.ch

Persönliches Profil

Tätigkeit an der ZHAW als

Dozent am Institut für Financial Management

weiterhin:
Assistant Professor at the School of Finance, University of St.Gallen

Head of the Competence Center for Security Analysis at the Institute for Operations Research & Computational Finance, School of Finance, University of St.Gallen

Vice Director of the Institute for Operations Research & Computational Finance, School of Finance, University of St.Gallen

https://www.zhaw.ch/de/sml/institute-zentren/ifi/

Arbeits- und Forschungsschwerpunkte, Spezialkenntnisse

Role of accounting information and disclosure in equity analysis and investment strategies

Equity research & investment strategies
Performance measurement & valuation analysis
Fundamental risk and portfolio analysis
Accounting
Corporate finance
Asset & Wealth Management

Aus- und Fortbildung

08/2012 - 07/2013: CBS - Columbia University, New York, USA
Visiting Scholar at the Graduate School of Business
09/2008 - 02/2013: HSG - University of St.Gallen, St.Gallen, Switzerland
Ph.D.-Program at the School of Management (Ph.D. Summa Cum Laude)
04/2003 - 08/2008: FUB - Freie Universität Berlin, Berlin, Germany
Graduate Studies at the School of Business & Economics (Diplom-Kaufmann)
02/2007 - 08/2007: UFV - University Francisco de Vitoria, Madrid, Spain
Erasmus Exchange Program
09/1999 - 07/2001: IHK - Gillette, Berlin, Germany
Professional Training in Industrial Commerce (Industriekaufmann)
09/1995 - 06/1998: Bertha-von-Suttner-Gymnasium, Berlin, Germany
High School (Abitur)

Beruflicher Werdegang

08/2015 - present: Assistant Professor at the School of Finance, University of St.Gallen
08/2015 - present: Head of the Competence Center for Security Analysis and
Vice Director of the Institute for Operations Research & Computational Finance, School of Finance, University of St.Gallen
06/2020 - present: Board Member at Alean Capital AG, Vaduz, Liechtenstein
09/2006 - 03/2007: PwC - PricewaterhouseCoopers, Budapest, Hungary
09/1999 - 10/2005: The Gillette Company, Berlin, Germany

Mitglied in Netzwerken

Publikationen

Beiträge in wissenschaftlicher Zeitschrift, peer-reviewed
Buchbeiträge, peer-reviewed
  • Gutsche, Robert,

    2019.

    Art. 959a : Mindestgliederung

    .

    In:

    Pfaff, Dieter; Glanz, Stephan; Zihler, Florian, Hrsg. ,

    Rechnungslegung nach Obligationenrecht : veb.ch Praxiskommentar.

    Zürich:

    SKV.

    S. 320-389.

Publikationen vor Tätigkeit an der ZHAW

“Art. 959a: Mindestgliederung,“ in: Dieter Pfaff, Stephan Glanz, Thomas Stenz, Florian Zihler (eds.), 2. Auflage: Praxiskommentar für die Rechnungslegung nach Obligationenrecht (2019), pp. 320-389, Zurich: SKV, veb.ch.
“Firm-value Effect of CSR Disclosure and CSR Performance,” Journal of Environmental Law and Policy [VHB JOURQUAL: B], 40-4 (2017), pp. 332-349 (with Jan-Frederic Schulz & Michael Gratwohl).
“The Roadmap to Effective Segment Reporting, At the Core of Value Discovery,” Zeitschrift für Internationale Rechnungslegung 4 (2017), pp. 177-184 (with Alexandru Rif).
“Goodwill in der Bilanz: Zum fragwürdigen Ansatz von Anschaffungskosten einer Investition, die sich schlussendlich „amortisieren“ muss – Ein Plädoyer, Spekulation wieder Anlegern zu überlassen,” Zeitschrift für Internationale Rechnungslegung 9 (2016), pp. 369-375.
“Equity-settled Share-based Compensations: Fairly Presented and Decision Useful?,” Zeitschrift für Internationale Rechnungslegung 2 (2016), pp. 79-87.
“Bewertungsrelevanz von Corporate Social Responsibility (CSR-) Informationen - Eine empirische Analyse,” Zeitschrift für Internationale Rechnungslegung 10 (2015), pp. 455-458 (with Daniel Fauser & Michael Gratwohl).
“Intangibles, quo vadis?: Eine kritische Analyse von IFRS 13 und IFRS 3,” Zeitschrift für Internationale Rechnungslegung 10 (2015), pp. 193-198.
“IFRS 13 - Fair Value Measurement: From Cost to Value? - Eine Bestandsaufnahme des Status Quo,” Zeitschrift für Internationale Rechnungslegung 3 (2015), pp. 107-110.
“The Value-relevance of CSR Reporting Quality,“ Journal of Environmental Law and Policy [VHB JOURQUAL: B]. 37-4 (2014), pp. 390-409 (with Andreas Grüner & Jan-Frederic Schulz).
“Art. 959a: Mindestgliederung,“ in: Dieter Pfaff, Stephan Glanz, Thomas Stenz, Florian Zihler (eds.): Praxiskommentar für die Rechnungslegung nach Obligationenrecht (2014), Zurich: SKV, veb.ch, ISBN 978-3-286-50935-1, pp. 293-353.
“IFRS 3 - Business Combinations (Revised),“ in: Joachim Hennrichs, Detlef Kleindiek, Christoph Watrin (eds.): Münchener Kommentar zum Bilanzrecht Band 1 IFRS (2013), München: C.H.Beck, ISBN 978-3-406-57864-9, pp. 1-50 (with Thomas Berndt).
“Determinants of M&A Activity and Control Concept: Firm Characteristics as Economic Indicators for Control in Business Combinations,“ Dissertation, University of St.Gallen, Bamberg - Difo.
“§§ 275-277 HGB: Gewinn- und Verlustrechnung, Größenabhängige Erleichterungen, Vorschriften zu einzelnen Posten der Gewinn- und Verlustrechnung,“ in: Carsten P. Claussen, Gerhard Scherrer. (eds.): Kölner Kommentar zum Rechnungslegungsrecht (2011), Köln: Wolters Kluwer, ISBN 978-3-452-27156-3, pp. 780-830 (with Thomas Berndt).
“IFRS 3 - Business Combinations (Revised),“ in: Joachim Hennrichs, Detlef Kleindiek, Christoph Watrin (eds.): Münchener Kommentar zum Bilanzrecht Band 1 IFRS (2010), München: C.H.Beck, ISBN 978-3-406-57864-9, pp. 1-46 (with Thomas Berndt).
“Unternehmensbewertung von Professional Service Firms: Mandanten-Cashflows als zentrale Größe,“ Betriebs-Berater 20 (2010), pp. 1203-1208 (with Thomas Berndt & Christian Offenhammer).


NEWSPAPER ARTICLES
“Rentabilität von CSR-Investitionen,” in: Handelszeitung 2019 (2019, forthcoming).
“Trading Room at HSG : Interview with Robert Gutsche by Gordon Langlois (author): The trading room: to risk or not to risk,” in: HSG Fokus 2015 (2015), 4, S. 2.
“Accounting for Value, quo vadis?,” In: Alma : das Alumni-Magazin der Universität St. Gallen 14 (2015), 4, S. 15.

INVITED PAPER PRESENTATIONS (presenter in parenthesis)
“The Shortcomings of Segment Reporting and their Impact on Analysts’ Earnings Forecasts”
2019: University of Twente, Enschede, Netherlands (Robert Gutsche)
2019: Congress of the European Financial Management Association (EFMA), 2019, Ponta Delgada, Portugal (Robert Gutsche)
2019: University of Basel, Switzerland, Hearing (Robert Gutsche)
2018: Congress of the European Accounting Association (EAA), 2018, Milan, Italy (Robert Gutsche)
2018: University of St.Gallen, St.Gallen, Switzerland (Alexandru Rif)
2017: ACA Research Symposium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)
2017: University of St.Gallen, St.Gallen, Switzerland (Alexandru Rif)
“Accounting Insight in die Schweizer Stromwirtschaft“
2019: Konferenz Kantonaler Energiedirektoren EnDK, Bern, Switzerland (Karl Frauendorfer)
2019: Stromtagung, Zürich, Schweiz (Karl Frauendorfer)
"Vertiefung flexibles Wasserzinsmodell: Faktoren zur Abschätzung der Ertragsmöglichkeiten auf Konzernstufe»
2019: Regierungskonferenz der Gebirgskantone (Karl Frauendorfer)
2018: BHP, Zürich (Karl Frauendorfer)

“Retail investors’ attention and momentum strategies - Evidence from the S&P 500”
2017: American Accounting Association (AAA), Annual Meeting, San Diego, USA (Giorgio Ciocca)
2017: EFMA Annual Meeting, Athens, Greece (Giorgio Ciocca)
“The impact of CSR Reporting Quality on Analyst Forecast Accuracy”.
2017: American Accounting Association (AAA), Annual Meeting, San Diego (Sven Baumeister)
“HSG Trading Room: Active Learning and Teaching for Security Analysis and Risk Management”
2017: American Accounting Association (AAA), Annual Meeting, San Diego (Robert Gutsche)
“IPO's Short- and Long-term Performance : Current Evidence for Switzerland”
2015: Annual International Conference on Accounting and Finance (AF), Singapore (Robert Gutsche)
“Firm-value Effect of CSR Disclosure and CSR Performance”
2017: European Financial Management Association (EFMA), Annual Meeting, Athens, Greece (Robert Gutsche)
“The Firm Lifecycle as Determinant of Going Private Decisions”
2016: International Conference on Asia-Pacific Economic & Financial Development, Ho Chi Minh City, Vietnam (Lucia Ehn)
“The Value-Relevance Of CSR Reporting Quality“
2015: Journal of International Accounting Research, Sao Paolo, Brazil (invited, but attendance withdrawn, since paper was published in the meantime)
2015: Congress of the European Accounting Association (EAA), Glasgow, UK (Robert Gutsche)
2015: Doctoral Colloquium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)
“Determinants of M&A Activity and Control Concept: Firm Characteristics as Economic Indicators for Control in Business Combinations“
2015: Journal of International Accounting Research, Sao Paolo, Brazil (invited, but attendance withdrawn by the authors)
2013: American Accounting Association (AAA), Annual Meeting, Anaheim, USA (Robert Gutsche)
2013: Hearing, Bocconi University, Milan, Italy (Robert Gutsche)
2013: Hearing, Universität der Bundeswehr, München, Germany (Robert Gutsche)
2012: Hearing, Ruhr-Universität Bochum, Bochum, Germany (Robert Gutsche)
2012: Doctoral Colloquium, Columbia University, New York, USA (Robert Gutsche)
2012: Doctoral Colloquium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)
2010: Freie Universität Berlin. Berlin, Germany (Robert Gutsche)
“The Control Concept and the Economic Substance in Business Combinations—A Theoretical and Empirical Evaluation of FASB/IASB Concepts for Business Combinations”
2012: American Accounting Association (AAA), Annual Meeting, Washington, DC, USA (Robert Gutsche)
2011: American Accounting Association (AAA), Annual Meeting, Denver, USA (Robert Gutsche)
2011: Annual Journal of International Accounting Research Conference, Xiamen, China (Robert Gutsche)
2010: Doctoral Colloquium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)
“A Framework for Rating Quality”
2009: Doctoral Colloquium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)
“Audit Quality and Risk-based Auditing: A review of archival error studies” (Robert Gutsche)
2009: Doctoral Colloquium, ETH, Zürich, Switzerland (Robert Gutsche)
“Normative Research in Accounting”
2008: Doctoral Colloquium, University of St.Gallen, St.Gallen, Switzerland (Robert Gutsche)

Weitere Beiträge

CURRENT WORKING PAPERS, ONGOING RESEARCH PROJECTS
“Survey on the Research Needs of Swiss Asset Managers,” Ongoing Research Project (survey completed, data currently under analysis), working paper, targeted outlet: Finance Research Letters.
“The Shortcomings of Segment Reporting and their Impact on Analysts’ Earnings Forecasts,” Working Paper (with Alexandru Rif), available under: ssrn.com/abstract=3318106, working paper, targeted outlet: Review of Accounting Studies
“Equity Investment Risk and Return fro-m Accounting and Market Price,” Ongoing Research Project (together with Stephen Penman), working paper, targeted outlet: Contemporary Accounting Research.
“Market Risk and Return: Personal Trades and Risk Behavior,” Ongoing Experimental Research Project (together with Karl Frauendorfer, Emmanuelle Kleinlogel, Marianne Schmidmast), working paper, targeted outlet: Science.
“Performance Reporting in the Utlity Sector,” (with Karl Frauendorfer, Michael Schürle), targeted outlet: Critical Perspectives on Accounting.
“Performance-Issues im Schweizer Stromhandel, Positionspapier zur Schweizer Stromwirtschaft,“ White Paper (with Karl Frauendorfer, Michael Schürle), available under: iorcf.unisg.ch/de/institut
“Die Rolle des Stromhandels in der Schweizer Stromwirtschaft,“ White Paper (with Karl Frauendorfer), available under: iorcf.unisg.ch/de/institut.
“Accounting-Puzzle in der Schweizer Stromwirtschaft,“ White Paper (with Karl Frauendorfer), available under: iorcf.unisg.ch/de/institut.