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Steven Ongena
SFI Senior Chair
Professor of Banking

Steven Ongena is Professor of Banking at the University of Zurich and has held an SFI Senior Chair since 2013. He graduated from the University of Oregon with a PhD in Economics. Prof. Ongena’s papers have been published in leading academic journals in finance and economics. He has received numerous awards for his research, including a Fordham-RPI-NYU Rising Star in Finance Award in 2012.

Listen to Prof. Steven Ongena speak about his research.

Research Interests:
His research interests lie in the areas of empirical financial intermediation and applied financial econometrics.
Recent Research:
A recent paper by Prof. Ongena and his coauthors seeks to better understand how the increased dependency on international wholesale funding and the increased presence of foreign banks led to the transmission of liquidity shocks across borders in the aftermath of the recent financial crisis. Using a unique database covering 256 banks and 45’660 firms from across 14 Eastern European countries during the period 2005 to 2009, the researchers find that compared to locally funded domestic banks, internationally borrowing domestic banks and foreign banks cut back their lending more during the financial crisis. Further measurements reveal that bank-dependent firms borrowing from internationally borrowing domestic or foreign banks suffer negative financial and real effects, especially when they have only a single bank relationship, when they are small, and when they have a limited value in the form of tangible assets.