Edina Berlinger

I am a full Professor of Finance at Corvinus University of Budapest (CUB), where I served as Head of the Finance Department from 2008 to 2022. I obtained my Ph.D. in Economics from CUB in 2004. In 2023 and 2024, I worked as a Research Scientist at the University of Luxembourg, contributing to a research program on Sustainable Finance. As a guest lecturer, I teach courses on Financial Markets and Sustainable Finance at the Luxembourg School of Business.

My primary research interests lie in risk management and corporate governance, focusing on regulating financial markets to promote sustainability and financial inclusion. In addition to teaching and research, I am regularly engaged in consultancy projects with international organizations and financial institutions. From 2021 to 2024, I was an Independent Member of the Supervisory Board and Chair of the Risk Committee at OTP Bank Romania. Since 2024, I have held the same position at DSK Bank Bulgaria.

Current research

More ESG, less misconduct? (with Barbara Dömötör, Martin Márkus, and Gábor Neszveda)
Why should green communication be an aggravating circumstance in environmental crimes? (with Lilla Judit Keresztúri and Ágnes Lublóy)
Green lemon markets (with Zsolt Bihary)
Empirical Laffer-curve of household debts and the optimal debt relief (with Zsolt Bihary and György Molnár)
A joint model of student loan and pension savings
Interbank networks: The emergence of core-periphery structures (with Zsolt Bihary and Tamás Vadász)

Selected papers

Self-regulation, media pressure, and corporate catastrophes. 2025. Economic Policy and Analysis. (with Keresztúri, J., L., & Lublóy, Á.)

Quantifying firm-level greenwashing: A systematic literature review. 2025. Journal of Environmental Management. (with Keresztúri, J., L., & Lublóy, Á.)

Financial literacy of finance students: a behavioral gender gap. International Journal of Educational Management. (with Dömötör, B., Megyeri, K., & György W.)

Environmental policy and stakeholder engagement: Incident-based, cross-country analysis of firm-level greenwashing practices. 2025. Corporate Social Responsibility and Environmental Management. (with Keresztúri, J., L., & Lublóy, Á.)

Social enterprise under moral hazard: Who gets state subsidies and active financing? 2025. The European Journal of Development Research. (with Anita Lovas and Fanni Tóth)

Dynamic margin optimization. 2024. Finance Research Letters. (with Barbara Dömötör & Zsolt Bihary)

Governmental responses and firm performance during the Covid-19 pandemic: The role of culture and politics. 2024. Economic Systems. (with Dieter Gramlich, Thomas Walker, & Zhao Yunfei)

Modern pillories: Overdue debts of the poor. 2023. Acta Oeconomica. (with Bihary, Zs., Dobrányszky-Bartus, K., & Molnár, Gy.)

Interpersonal versus interbank lending networks: The role of intermediation in risk-sharing. 2023. Emerging Markets Review. (with Gosztonyi, M., Havran, D., & Pollák, Z.)

Loan forbearance takeup in the Covid-era: The role of time preferences and locus of control. 2022. Finance Research Letters. (with Kiss, H. J., & Khayouti, S.)

Blowing the whistle on corporate fraud: The role of regulators and journalists in the financial vs non-financial sectors. 2022. Applied Economics. (with Keresztúri, J., L., & Lublóy, Á.)

Adjustable-rate mortgages in the era of global reflation: How to model additional default risk? 2022. Plos One. (with Banai, Á. & Dömötör, B.)

Press freedom and operational losses: The monitoring role of the media. 2022. Journal of International Financial Markets, Institutions, and Money. (with Keresztúri, J. L., Lublóy, Á., & Vőneki, Z. T.)

Overdue debts and financial exclusion. 2021. Risks. (with Dobránszky-Bartus, K., & Molnár, G.)

Irrational risk-taking of professionals? The relationship between risk exposures and previous profits. 2021. Risk Management. (with Dömötör, B., & Szűcs, B. Á.)

Does governance matter? Country-level determinants of operational risk. 2021. Society and Economy. (with Keresztúri, J. L., Lublóy, Á., & Vőneki, Z. T.)

Anti-cyclical versus risk-sensitive margin strategies in central clearing. 2019. Journal of International Financial Markets, Institutions, and Money. (with Dömötör, B. & Illés, F.)

Optimal margin requirement. 2019. Finance Research Letters. (with Dömötör, B. & Illés, F.)

Why APRC is misleading and how it should be reformed. 2019. Cogent Economics & Finance

Corporate cash-pool valuation: A Monte Carlo approach. 2018. Studies in Economics and Finance. (with Bihary, Z. & Walter, G.)

Corporate cash-pool valuation in a multi-firm context: A closed formula. 2017. Finance Research Letters. (with Bihary, Z. & Walter, G.)

Implicit rating: A potential new method to alert crisis in the interbank lending market. 2017. Finance Research Letters.

State subsidy and moral hazard in corporate financing. 2017. Central European Journal of Operations Research. (with Lovas, A., & Juhász, P.)

Income-contingent repayment scheme for non-performing mortgage loans in Hungary. 2015. Acta Oeconomica. (with Walter, G.).

An efficient student loan system: Case study of Hungary. 2009. Higher Education in Europe.

PhD-students

Currently:

Donát Kim: green finance

Fanni Tóth: financial inclusion, financial institutions

Formerly (year of thesis defense):

Katalin Dobránszky-Bartus (2022): Overdue debt as a poverty trap

Jens Valdemar Krenchel (2022): Personal bankruptcy systems in the EU – Measuring leniency

Zoltán Pollák (2022): Liquidity management and intermediation in unsecured credit markets

Katalin Kallóné Csaba (2019): Deposit insurance and moral hazard in Hungary

Anita Lovas (2016): Innovation financing under asymmetric information

Helena Naffa (2015): The relationship between analyst forecasts, investment fund flows, and market returns

Zoltán Monostori (2014): Essays on the costs of public debt financing

Kata Váradi (2012): Liquidity risk on stock markets

Dániel Havran (2011): Corporate liquidity management

References

Nicholas Barr, Professor at the London School of Economics

Email: N.Barr@lse.ac.uk

URL: https://econ.lse.ac.uk/staff/nb/

Júlia Király, Professor at the International Business School, former Chair of the International Training Center for Bankers, former Vice-President of the Central Bank of Hungary, former Member of the Monetary Council

Email: jkiraly@ibs-b.hu

URL: https://juliakiraly.com/

Christos Koulovatianios, Professor and Chair of the Department of Finance at the University of Luxembourg

Email: christos.koulovatianos@uni.lu

URL: Christos Koulovatianos (google.com)

Zita Zoltay Paprika, former Dean of the School of Business Administration at CUB, Associate Director EFMD Global

Email: zita.paprika@outlook.com

URL: https://www.linkedin.com/in/zita-zoltay-paprika-0470b612/?originalSubdomain=hu