Doctoral Consortium

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.


ERIC Doctoral Consortium

Wednesday, February 23rd, 2011



Registration and welcome coffee at Boerse Stuttgart



Bus transfer to the University of Hohenheim


Trading Simulation



TraderEx trading simulation**



Lunch break


Paper Presentations – Part 1



Equity market fragmentation and liquidity: The impact of MiFID
Hans Degryse (1), Frank de Jong (1), Vincent van Kervel* (1)
(1): Tilburg University, Netherlands



Order-book resiliency: The fourth dimension of liquidity
Michael Chlistalla* (1)
(1): Goethe University Frankfurt, Germany



The quality of electronic markets
Shuo Sarah Zhang* (1)
(1): Karlsruhe Institute of Technology, Germany



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



Coffee break


Paper Presentations – Part 2



What 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



Selection, timing and total performance of equity funds: Wasting time measuring timing
Sebastian Krimm* (1)
(1): University of Augsburg, Germany



Private information about positive feedback trading: Speculating rationally during a crash
Jean-Edouard Colliard* (1)
(1): Paris School of Economics, France





Invited Talk



Invited talk & discussion: U.S. job market and research etiquette
Prof. Daniel Dorn (Lebow College of Business, Drexel University)



Bus transfer to the city center/Boerse Stuttgart



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.