Doctoral Consortium 2011

ERIC welcomed Ph.D. students to submit working papers or preliminary drafts of one of their Ph.D. essays to the doctoral consortium that took place on February 23rd, 2011 at the University of Hohenheim in Stuttgart, Germany. Presentations were 15 minutes, followed by 15 minutes open questions and discussion. Ph.D. students accepted to the doctoral consortium were also invited to stay for the main conference. Accommodation and registration for accepted Ph.D. students were free of charge.

Doctoral student best paper award
Doctoral students were encouraged to submit research papers and participate in the program. A 500 EUR prize for the best doctoral student paper of the doctoral consortium was awarded.

Participating Senior Researchers
Prof. Hans-Peter Burghof (University of Hohenheim), Prof. Daniel Dorn (Lebow College of Business, Drexel University), Prof. Christian Koziol (University of Hohenheim), Prof. Ryan Riordan (Karlsruhe Institute of Technology), Prof. Bruce Weber (London Business School)

See below for the program of the 1st ERIC Doctoral Consortium.

23rd, 2011
8:00-8:30Registration and welcome coffee at Boerse Stuttgart
8:30-9:00Bus transfer to the University of Hohenheim
9:00-12:00TraderEX traiding simulation**
12:00-13:00Lunch break
Part 1
13:00-13:30Equity market fragmentation and liquidity: The impact of MiFID
Hans Degryse (1), Frank de Jong (1), Vincent van Kervel* (1)
(1): Tilburg University, Netherlands
13:30-14:00Order-book resiliency: The fourth dimension of liquidity
Michael Chlistalla* (1)
(1): Goethe University Frankfurt, Germany
14:00-14:30The quality of electronic markets
Shuo Sarah Zhang* (1)
(1): Karlsruhe Institute of Technology, Germany
14:30-15:00 Does gender affect the risk propensity of retail investors? Evidence from the largest
German market for peer-to-peer lending

Nataliya Barasinska* (1)
(1): DIW Berlin, Germany
15:00-15:30Coffee break
Part 2
15:30-16:00What drives investments into mutual funds? Applying the theory of planned behaviour to
individuals` willingness and intention to purchase mutual funds

Nicolas Schmidt* (1)
(1): WHU Otto-Beisheim School of
Management, Vallendar, Germany
16:00-16:30Selection, timing and total performance of
equity funds: Wasting time measuring timing

Sebastian Krimm* (1)
(1): University of Augsburg, Germany
16:30-17:00Private information about positive feedback trading: Speculating rationally during a crash
Jean-Edouard Colliard* (1)
(1): Paris School of Economics, France
Invited Talk
17:15-18:00Invited talk & discussion: U.S. job market and research etiquette
Prof. Daniel Dorn (Lebow College of Business, Drexel University)
18:00Bus transfer to the city center/Boerse Stuttgart
19:00 Wine reception at Boerse Stuttgart
*Presenting author

**TraderEx is an interactive computer simulation designed to provide participants with hands-on experience in making tactical trading decisions, and implementing them in different market environments. Continuous order driven and quote driven markets are simulated, along with call auctions and hybrid combinations. The simulation exercises are an invaluable tool for deepening understanding of how the structure of trading influences actual trading behavior. You will enter your orders into a computer-driven market that generates its own order flow, and can respond directly to your orders. You will see your results in real-time and can analyze them after each simulation run. You are free to experiment with your order placement. For further information please consult the TraderEx website.