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Karoline Bax, Ph.D.


Technical University of Munich


I am a passionate and driven young researcher working in the interdisciplinary field sustainable finance.  


I am currently a postdoctoral researcher and lecturer at the Technical University of Munich, Germany. Recently, I have received my Ph.D. from the University of Trento, Italy. Prior I received a B.Sc. in General Management and M.Sc. in Finance from the EBS Universität für Wirtschaft und Recht, Germany.

I have engaged in numerous projects that explore various aspects of assets with specific ESG scores. My work focuses on creating new and more accurate indicators related to the (tail) dependencies between different assets as well as better understanding the contribution to systemic risk and possible spillovers. The ultimate goal of this research is to ascertain whether assets with comparable ESG scores possess shared risk characteristics, which can then be reliably applied in asset pricing, risk management, and portfolio analysis.


I recently presented at the 13th CEQURA Conference 2022 and the 31st European Financial Management Association (EFMA) 2022. I am going to be next at the European Finance Association (EFA) 2023 and the International Conference Computational and Financial Econometrics (CFE) 2023.

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