Department of Economics and Business Economics

Jan Bartholdy

Associate professor

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Jan Bartholdy

Associate professor

  • Department of Economics and Business Economics
Postal address:
Fuglesangs Allé 4
2630, 107
Aarhus V


Phone: +4587164918

Research Interests

Corporate Finance:
Capital structure of SMEs
Mergers and Acquisitions
Law and Corporate Finance
Financial Institutions:
Regulation of financial institutions
The role of financial institutions in financing SMEs
Behavioural Finance


Ph.D., Queen's University: Economics/Finance. Degree granted: 1989
Fields (comprehensive exams): Economics department: Industrial Organization, Money and
Stabilization Policy. Business School: Finance
Dissertation: "An Incentive Compatible Portfolio Model for Financial Intermediaries".
Supervisors: Prof. Charles Beach and Prof. J. Mintz


Tenured or permanent employment:
Denmark - Aarhus University - Associate Professor 1999-
New Zealand - University of Otago - Senior Lecturer 1989-1999
Canada - Saint Mary´s University - Assistant Professor 1985-1989

External/part time employment:
Denmark Syddansk Universitet
Denmark University of Copenhagen
Iceland University of Iceland
Liechtenstein Hochschule Liechtenstein
Portugal Universidade do Porto, EGP

Teaching Activities

Financial Management
Bank Management
Thesis supervision

Corporate Finance
Empirical Finance
Advanced Corporate Finance
Real Options
Financial Institutions
Cases in Finance
Theory of Finance
Thesis supervision

Corporate Finance
Capital markets
Thesis supervision

Ph.D. supervision:
Cesario Mateus: Essays in Taxation and Capital Structure
Thomas Poulsen: Essays on the voting power of large shareholders
Benjamin Blunck: Creating and Appropriating Value from Mergers and Acquisitions – A
Merger Wave Perspective".
Current students:
Marie Herly: Measuring accounting quality
Lene Gilje Jørgensen: The Banking Industry: Regulations


Bartholdy, J, Karen Fox, Cam Gilbert, Robert Hibbard, Warren McNoe, Michael Potter, Jing
Shi and Kelvin Watt, “Estimating Beta for New Zealand Companies”, The New Zealand
Investment Analyst, 1996. Won first prize in best paper competition.
Bartholdy, J., G. Boyle and R. Stover, “Corporate Capital Structure and Regulation of bank
Equity Holdings: Some International Evidence”. Multinational Finance Journal. 1997,
Vol. 1(1), pp. 63-80. Won second prize in best paper competition.
Bartholdy, J. “Is there a Day-of-the-Week Effect in New Zealand”. The New Zealand Investment
Analyst. 1997. Won first prize in best paper competition
Bartholdy and P. Peare, “Chaos on the New Zealand Stock Exchange: A Case for Technical
Analysis”. The New Zealand Investment Analyst. 1998. Won first prize in best paper