Publications

This page lists finance-related publications of platform researchers since its year of inception, 2015, or since the respective researcher's joining the platform. For the authors' other publications, please see their individual websites.

1. Brauneis, Alexander and Mestel, Roland and Rauch, Martin. Financial economics of automated market makers. Cronqvist, H., Pely, D.-J. (eds.), The Edward Elgar Companion to Decentralized Finance, Digital Assets and Blockchain Technologies. Edward Elgar Publishing Limited, pp. 167-190. 2024. DOI: 10.4337/9781035307760.00014

2. Mestel, Roland and Steffen, Viktoria and Theissen, Erik. Algorithmic trading and mini flash crashes: Evidence from Austria. Economics Letters. 2024. DOI: 10.1016/j.econlet.2024.111982

3. Theissen, Erik and Dinger, Valeriya and Schmidt, Christian. The Real Effects of Distressed Bank Mergers. Forthcoming in: Journal of Corporate Finance.

4. Fink, Josef and Palan, Stefan and Theissen, Erik. Earnings Autocorrelation and the Post-Earnings-Announcement Drift: Experimental Evidence. Journal of Financial and Quantitative Analysis. 2025. DOI: 10.1017/S0022109023000881

5. Brauneis, Alexander and Mestel, Roland and  Theissen, Erik. The crypto world trades at tea time: intraday evidence from centralized exchanges across the globe. Rev Quant Finan Acc. 2024. DOI 10.1007/s11156-024-01304-1

6. Fišar, M. and Greiner, B. and Huber, C. and Katok, E. and Ozkes, A.  and Management Science Reproducibility Collaboration. Reproducibility in Management Science. Management Science. 2024. DOI: 10.1287/mnsc.2023.03556

7. Kueschnig, Michael and Schertler, Andrea. Fusing futures: Financial institutions’ stock price response to fintech acquisitions. Finance Research Letters. 2024. DOI: 10.1016/j.frl.2023.104779

8. Menkveld, A. J. and Dreber, A. and Holzmeister, F. and Huber, J. and Johannesson, M. and Kirchler, M. and Neusüss, S. and Razen, M. and Weitzel, U., et al. Non-standard errors, Journal of Finance. 2024. DOI: https://doi.org/10.1111/jofi.13337

9. Schmidt, Dominik and Stöckl, Thomas and Palan, Stefan. Voting for insider trading regulation. An experimental study of informed and uninformed traders’ preferences. Journal of Banking and Finance 169, 107295, 2024. DOI: 10.1016/j.jbankfin.2024.107295

10. Seifert, Marcel and Spitzer, Florian and Kirchler, Erich and Gangl, Katharina and Haeckl, Simone and Gaudeul, Alexia and Palan, Stefan. Can information provision and preference elicitation promote ESG investments? Evidence from a large, incentivized online experiment. Journal of Banking and Finance. 2024. DOI: 10.1016/j.jbankfin.2024.107114

11. Betzer, André and Schweder, Felix and Volkmann, Christine and van den Bongard, Inga and Theissen, Erik. All is not lost that is delayed: overconfidence and investment outcomes. Review of Managerial Science. 2023. DOI: 10.1007/s11846-022-00578-w

12. Gomber, Peter and Weber, Moritz Christian and Sagade, Satchit and Westheide, Christian and Theissen, Erik. Spoilt for choice: Determinants of market shares in fragmented equity markets. Journal of Financial Markets. 2023. DOI: 10.1016/j.finmar.2023.100816

13. Merl, Robert and Palan, Stefan and Schmidt, Dominik and Stöckl, Thomas. Insider trading regulation and trader migration. Journal of Financial Markets. 2023. DOI: 10.1016/j.finmar.2023.100839

14. Merl, Robert and Stöckl, Thomas and Palan, Stefan. Insider trading regulation and shorting constraints. Evaluating the joint effects of two market interventions. Journal of Banking and Finance. 2023. DOI: 10.1016/j.jbankfin.2022.106490

15. Rose, Julia and Kirchler, Michael and Palan, Stefan. Status and reputation nudging. Journal of Behavioral and Experimental Economics . 2023. DOI: 10.1016/j.socec.2023.102031

16. Theissen, Erik and Westheide, Christian. One for the money, two for the show? The number of designated market makers and liquidity. Economics Letters. 2023. DOI: 10.1016/j.econlet.2023.110992

17. Alabbad, Amal and Schertler, Andrea. COVID-19 and bank performance in dual-banking countries: an empirical analysis. Journal of Business Economics. 2022. DOI: 10.1007/s11573-022-01093-w

18. Brauneis, Alexander and Mestel, Roland and Theissen, Erik and Riordan, Ryan. Bitcoin unchained: Determinants of cryptocurrency exchange liquidity. Journal of Empirical Finance. 2022. DOI: 10.1016/j.jempfin.2022.08.004

19. Brauneis, Alexander and Mestel, Roland and Theissen, Erik and Riordan, Ryan. The anatomy of a fee change — evidence from cryptocurrency markets. Journal of Empirical Finance. 2022. DOI: 10.1016/j.jempfin.2022.03.003

20. Duan, Fang and Manner, Hans and Wied, Dominik. Model and Moment Selection in Factor Copula Models. Journal of Financial Econometrics. 2022. DOI: 10.1093/jjfinec/nbz039

21. Huber, Jürgen and König-Kersting, Christian and Inoua, Sabiou and Smith, Vernon L. and Kerschbamer, Rudolf and Palan, Stefan. Nobel and novice: Author prominence affects peer review. Proceedings of the National Academy of Sciences of the United States of America. 2022. DOI: 10.1073/pnas.2205779119

22. Machus, Tobias and Mestel, Roland and Theissen, Erik. Heroes, just for one day: The impact of Donald Trump's tweets on stock prices. Journal of Behavioral and Experimental Finance. 2022. DOI: 10.1016/j.jbef.2021.100594

23. Greppmair, Stefan and Theissen, Erik. Small is beautiful? How the introduction of mini futures contracts affects the regular contracts. Journal of Empirical Finance. 2022. DOI: 10.1016/j.jempfin.2021.08.003

24. Brauneis, Alexander and Mestel, Roland and Theissen, Erik and Riordan, Ryan. How to measure the liquidity of cryptocurrency markets?. Journal of Banking and Finance. 2021. DOI: 10.1016/j.jbankfin.2020.106041

25. Brauneis, Alexander and Mestel, Roland and Theissen, Erik. What drives the liquidity of cryptocurrencies? A long-term analysis. Finance Research Letters. 2021. DOI: 10.1016/j.frl.2020.101537

26. Çela, Eranda and Hafner, Stephan and Pferschy, Ulrich and Mestel, Roland. Mean-variance portfolio optimization based on ordinal information. Journal of Banking and Finance. 2021. DOI: 10.1016/j.jbankfin.2020.105989

27. Fink, Josef. A review of the Post-Earnings-Announcement Drift. Journal of Behavioral and Experimental Finance. 2021. DOI: 10.1016/j.jbef.2020.100446

28. Manner, Hans and Stark, Florian and Wied, Dominik. A monitoring procedure for detecting structural breaks in factor copula models. Studies in Nonlinear Dynamics and Econometrics. 2021. DOI: 10.1515/snde-2019-0081

29. Pugachev, Leonid and Schertler, Andrea. Neglecting Peter to Fix Paul: How Shared Directors Transmit Bank Shocks to Nonfinancial Firms. Journal of Financial and Quantitative Analysis. 2021. DOI: 10.1017/S0022109020000587

30. Rischen, Tobias and Theissen, Erik. Underpricing in the euro area bond market: New evidence from post-crisis regulation and quantitative easing. Journal of Financial Intermediation. 2021. DOI: 10.1016/j.jfi.2020.100871

31. Schertler, Andrea. Listing of classical options and the pricing of discount certificates. Journal of Banking and Finance. 2021. DOI: 10.1016/j.jbankfin.2020.106011

32. Schertler, Andrea and Moch, Nils. Bank foreign assets, government support and international spillover effects of sovereign rating events on bank stock prices. Journal of Banking and Finance. 2021. DOI: 10.1016/j.jbankfin.2021.106187

33. Dovern, Jonas and Manner, Hans. Order-invariant tests for proper calibration of multivariate density forecasts. Journal of Applied Econometrics. 2020. DOI: 10.1002/jae.2755

34. Giamattei, Marcus and Lambsdorff, Johann Graf and Huber, Jürgen and Palan, Stefan and Nicklisch, Andreas. Who inflates the bubble? Forecasters and traders in experimental asset markets. Journal of Economic Dynamics and Control. 2020. DOI: 10.1016/j.jedc.2019.07.004

35. Gurgul, Henryk and Suliga, Milena. Impact of futures expiration on underlying stocks: intraday analysis for Warsaw Stock Exchange. Central European Journal of Operations Research. 2020. DOI: 10.1007/s10100-018-00606-9

36. Palan, Stefan and Huber, Jürgen and Senninger, Larissa. Aggregation mechanisms for crowd predictions. Experimental Economics. 2020. DOI: 10.1007/s10683-019-09631-0

37. Schuster, Philipp and Uhrig-Homburg, Marliese and Theissen, Erik. Applications of Blockchain Technology in Finance. Schmalenbachs Zeitschrift fur Betriebswirtschaftliche Forschung. 2020. DOI: 10.1007/s41471-020-00090-5

38. Theissen, Erik and Westheide, Christian. Call of duty: Designated market maker participation in call auctions. Journal of Financial Markets. 2020. DOI: 10.1016/j.finmar.2019.100530

39. Brauneis, Alexander and Mestel, Roland. Cryptocurrency-portfolios in a mean-variance framework. Finance Research Letters. 2019. DOI: 10.1016/j.frl.2018.05.008

40. Huber, Jürgen and Palan, Stefan and Zeisberger, Stefan. Does investor risk perception drive asset prices in markets? Experimental evidence. Journal of Banking and Finance. 2019. DOI: 10.1016/j.jbankfin.2019.105635

41. Korn, Olaf and Krischak, Paolo and Theissen, Erik. Illiquidity transmission from spot to futures markets. Journal of Futures Markets. 2019. DOI: 10.1002/fut.22043

42. Manner, Hans and Alavi Fard, Farzad and Pourkhanali, Armin and Tafakori, Laleh. Forecasting the joint distribution of Australian electricity prices using dynamic vine copulae. Energy Economics. 2019. DOI: 10.1016/j.eneco.2018.10.034

43. Manner, Hans and Stark, Florian and Wied, Dominik. Testing for structural breaks in factor copula models. Journal of Econometrics. 2019. DOI: 10.1016/j.jeconom.2018.10.001

44. Schitter, Christian and Palan, Stefan and Fleiß, Jürgen. To claim or not to claim: Anonymity, symmetric externalities and honesty. Journal of Economic Psychology. 2019. DOI: 10.1016/j.joep.2018.09.006

45. Jung, Michael J. and Wong, M. H. Franco and Zhang, X. Frank. Buy-Side Analysts and Earnings Conference Calls. Journal of Accounting Research. 2018. DOI: 10.1111/1475-679X.12180

46. Andres, Christian and Betzer, André and Doumet, Markus and Theissen, Erik. Open Market Share Repurchases in Germany: A Conditional Event Study Approach. Abacus. 2018. DOI: 10.1111/abac.12094

47. Brauneis, Alexander and Mestel, Roland. Price discovery of cryptocurrencies: Bitcoin and beyond. Economics Letters. 2018. DOI: 10.1016/j.econlet.2018.02.001

48. Mestel, Roland and Theissen, Erik and Murg, Michael. Algorithmic trading and liquidity: Long term evidence from Austria. Finance Research Letters. 2018. DOI: 10.1016/j.frl.2018.01.004

49. Stöckl, Thomas and Palan, Stefan. Catch me if you can. Can human observers identify insiders in asset markets?. Journal of Economic Psychology. 2018. DOI: 10.1016/j.joep.2018.04.004

50. Palan, Stefan and Schitter, Christian. Prolific.ac—A subject pool for online experiments. Journal of Behavioral and Experimental Finance. 2018. DOI: 10.1016/j.jbef.2017.12.004

51. Gurgul, Henryk and Machno, Artur. The impact of asynchronous trading on Epps effect on Warsaw Stock Exchange. Central European Journal of Operations Research. 2017. DOI: 10.1007/s10100-016-0442-y

52. Palan, Stefan and Stöckl, Thomas. When chasing the offender hurts the victim: The case of insider legislation. Journal of Financial Markets. 2017. DOI: 10.1016/j.finmar.2016.07.002

53. Pilaj, Herwig. The Choice Architecture of Sustainable and Responsible Investment: Nudging Investors Toward Ethical Decision-Making. Journal of Business Ethics. 2017. DOI: 10.1007/s10551-015-2877-9

54. Gomber, Peter and Sagade, Satchit and Weber, Moritz Christian and Theissen, Erik and Westheide, Christian. COMPETITION BETWEEN EQUITY MARKETS: A REVIEW OF THE CONSOLIDATION VERSUS FRAGMENTATION DEBATE. Journal of Economic Surveys. 2017. DOI: 10.1111/joes.12176

55. Gurgul, Henryk and Machno, Artur. Modeling dependence structure among European markets and among Asian-Pacific markets: a regime switching regular vine copula approach. Central European Journal of Operations Research. 2016. DOI: 10.1007/s10100-015-0411-x

56. Murg, Michael and Pachler, Matthias and Zeitlberger, Alexander C. M.. The impact of analyst recommendations on stock prices in Austria (2000–2014): evidence from a small and thinly traded market. Central European Journal of Operations Research. 2016. DOI: 10.1007/s10100-014-0360-9

57. Betzer, Andre and Gider, Jasmin and Metzger, Daniel and Theissen, Erik. Stealth trading and trade reporting by corporate insiders. Review of Finance. 2015. DOI: 10.1093/rof/rfu007

58. Palan, Stefan. GIMS-Software for asset market experiments. Journal of Behavioral and Experimental Finance. 2015. DOI: 10.1016/j.jbef.2015.02.001

59. Hornung, Philipp and Leopold-Wildburger, Ulrike and Mestel, Roland and Palan, Stefan. Insider behavior under different market structures: experimental evidence on trading patterns, manipulation, and profitability. Central European Journal of Operations Research. 2015. DOI: 10.1007/s10100-014-0359-2

60. Füllbrunn, Sascha and Kreiner, Stefan and Palan, Stefan. The value of a fallback option. Central European Journal of Operations Research. 2015. DOI: 10.1007/s10100-015-0389-4

61. Gaul, Jürgen and Theissen, Erik. A Partially Linear Approach to Modeling the Dynamics of Spot and Futures Prices. Journal of Futures Markets. 2015. DOI: 10.1002/fut.21669

62. Gomber, Peter and Schweickert, Uwe and Theissen, Erik. Liquidity dynamics in an electronic open limit order book: An event study approach. European Financial Management. 2015. DOI: 10.1111/j.1468-036X.2013.12006.x

63. Hinterleitner, Gernot and Leopold-Wildburger, Ulrike and Mestel, Roland and Palan, Stefan. A good beginning makes a good market: The effect of different market opening structures on market quality. Scientific World Journal. 2015. DOI: 10.1155/2015/307808