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Department of Finance and Banking

Prof. Dr. Martin Ruckes


Post address:

Karlsruhe Institute of Technology (KIT)

Department of Finance and Banking (Prof. Ruckes)

Kaiserstr. 12

76131 Karlsruhe, Germany


Office address:

Karlsruhe Institute of Technology (KIT)

Department of Finance and Banking (Prof. Ruckes)

Building 09.21, 2nd floor

Bluecherstr. 17

76185 Karlsruhe, Germany


Phone: +49 721 608 43427

E-mail: corpfinTfx8∂fbv kit edu


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Research paper "Corporate Diversification and Capital Structure" received Larry Lang Corporate Finance Best Paper Award 2019



Fritz-Thyssen research grant for project "Monetary Policy Communication, Cognitive Abilities, and Expectations"



3rd "Summer Lecture In Finance" at the chair of Finance and Banking 



New Paper: Goergen, Limbach, Scholz-Daneshgari (2019) - Firms’ Rationales for CEO Duality: Evidence from a Mandatory Disclosure Regulation



New Paper: D'Acunto, Hoang, Paloviita, Weber (2019) - Cognitive Abilities and Inflation Expectations



Department honored with multiple teaching awards



Welcome! Mr. Silbereis and Mr. Stengel to join our team



Research projekt "Corporate Diversification and Capital Structure" financially supported by FIRM



New Working Paper: D'Acunto, Hoang, Paloviita, Weber (2018) - Human Frictions



Research Fellow wanted



German Central Bank to benefit the research project "Human Frictions"



New Paper: D'Acunto, Hoang, Weber (2018) - Unconventional Fiscal Policy



Department teaching activities again honored



Congratulations to Mr. Scholz-Daneshgari for his dissertation



New Working Paper: Hoang, Gatzer, Ruckes (2017) - The Economics of Capital Allocation in Firms: Evidence from Internal Capital Markets



New Working Paper: Hoang et al. (2017) - Country Risk – Cost of Equity Measurement: Methodologies and Implications


Career service and jobwall

Job offerings at the Department of Finance and Banking as well as exclusive job offerings from special business partners can be found via our career service and jobwall.

Website Campus B

The offical website of the Campus Bluecherstr. (Building 09.21) can be reached via the following link: http://campus-b.wiwi.kit.edu/index.php

Raphael Stengel

M.Sc. Raphael Stengel

Research Fellow
Office Hours: 

Only by appointment (prior request via e-mail required)

mondays, 4:00 - 5:00 pm

Room: 201 (2.OG, rechts)
Phone: +49 721 608 44389
raphael stengelSca1∂kit edu


University Education
since 09/2018                Research Fellow, Karlsruhe Institute of Technology (KIT)
04/2015 – 04/2018         Industrial Engineering and Management (M. Sc.), KIT
10/2011 – 01/2015         Industrial Engineering and Management (B. Sc.), KIT

Practical Experience
09/2016 – 02/2017         Daimler Trucks North America, Portland, USA, Global Module Strategy
01/2015 – 04/2015         Aureso Pte Ltd, Singapore, Business Development & Investor Relations
08/2012 – 10/2012         INIT Innovation in Traffic Systems AG, Karlsruhe, Finance & Accounting