Portrait of Michael Haimann

Michael Haimann Consultant

Michael is a member of Oxera’s Finance & Valuation team where he specialises in corporate finance and regulatory finance, with a particular focus on cost of capital estimation and financial modelling. He has experience working across a variety of industries including energy, water and financial services.

Michael delivers sessions in regulatory finance at Oxera’s Utility Finance courses. Before joining Oxera, he completed a PhD in economics, focusing on capital markets in times of economic uncertainty.

Michael speaks English, and German.

Tel: +49 3076 7599114

Michael's specialisms include:

Selected
professional experience

  • Advice to a European policymaker on the incentivisation of start-up financing (2024–)

  • Advice for UK water companies on the cost of capital in light of the 2024 price review (2024)

  • Assessment of underpricing in seasoned equity offerings for a UK electricity distribution network (2024)

  • Assessment of the cost of equity of UK gas distribution networks (2024)

  • Advice for the UK Energy Networks Association on the expected cost of equity for the RIIO-3 price control period (2024)

  • Assessment of the efficiency of debt financing and expected shortfall compared with the allowed cost of debt for a UK electricity distribution network (2024)

Selected
publications

  • Haimann, M., Kaserer, C. and Ljubicic, K. (2023), ‘Cui bono? Large-scale evidence on the impact of COVID-19 policy measures on listed firms’, The Quarterly Review of Economics and Finance, 89, pp. 228–243.

  • Bias, D., Guagliano, C., Haferkorn, M., Haimann, M. and Kaserer, C. (2019), ‘Use of derivatives by UCITS equity funds’, ESMA Report on Trends, Risks and Vulnerabilities, 2.

Qualifications

  • PhD in Economics, Technical University of Munich, Germany

  • MSc Management & Technology, Technical University of Munich, Germany

  • BSc Management & Technology, Technical University of Munich, Germany

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