Research

Publications:

Consuming Dividends - with Konstantin Bräuer and Andreas Hackethal. Accepted, Review of Financial Studies (2021).

The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments - with Dominique M. Lammer, Andreas Hackethal, and Kevin Rink. Forthcoming, Review of Finance (2021). [SSRN]

Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing - with Di Bu, Yin Liao, and Yong Liu. Forthcoming, Journal of Financial and Quantitative Analysis (2021). [SSRN]

Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations - with Annika Weber and Johannes Wohlfart. Review of Economics and Statistics (2021).
[Online appendix and survey instructions] [SSRN]

Once Bitten, Twice Shy: The Power of Personal Experiences in Risk Taking - with Steffen Andersen and Kasper Meisner Nielsen. Journal of Financial Economics (2019). [SSRN]


Under Review:

Political Corruption, Trust, and Household Stock Market Participation - with Di Bu and Yin Liao, Revise and Resubmit Journal of Banking and Finance

Participation and Losses in Multi-Level Marketing: Evidence from an FTC Settlement - with Claes Bäckman, Revise and Resubmit Financial Planning Review

Does Financial Technology Affect Household Savings Behavior? - with Gregor Becker. Revise and Resubmit Journal of Banking and Finance


Working Papers:

Risk Taking, Preferences, and Beliefs: Evidence from Wuhan - with Di Bu, Yin Liao, and Yong Liu
[Presentation video] [CEPR Covid Economics Issue 5]
Selected presentations: DGF 2021, FMA 2021, SFS Cavalcade 2021, Virtual Finance and Economics Conference, Finance in the Cloud III, Aarhus, SABE

Beliefs and the Disposition Effect - with Steffen Andersen, Jimmy Martinez-Correa, and Kasper Meisner Nielsen

Do Financial Misconduct Experiences Spur White-Collar Crime? - with Steffen Andersen and Kasper Meisner Nielsen
Selected presentations: EFA 2020, Helsinki Finance 2019

The Effect of Personal Financing Disruptions on Entrepreneurship
Selected presentations: AFA 2018, SGF 2017, CEPR Entrepreneurship 2016, EEA 2016

Good Peers, Good Apples: Peer Effects Lead to Better Financial Outcomes - with Claes Bäckman, Olga Balakina, Dominique M. Lammer and Andreas Hackethal

Unlucky Beliefs: The Zodiac Birth Year Effect and Individual Investor Performance - with Di Bu, Yin Liao, and Weiqiang Zhang