Thomas Paul Gehrig


Chair in Finance, Department of Finance, University of Vienna
Director of Doctoral Studies, Faculty of Business, Economics and Statistics
Speaker of the Oskar Morgenstern Doctoral School
Vienna Graduate School of Finance (VGSF), Faculty Member
Editor-in-Chief, Schmalenbach Journal of Business Research-SBUR, Journal of the German Academic Association for Business Research (VHB) and the Schmalenbach Gesellschaft (SG)
Centre for Economic Policy Research (CEPR), London, Research Fellow in Financial Economics and in Industrial Organization
European Corporate Governance Institute (ECGI), Brussels
National Bureau of Economic Research (NBER), Boston, Market Microstructure Research Group
Systemic Risk Centre (SRC), LSE, London.


1997-2010Chair in Economic Theory and Director of the Institute for Research on Economic Evolution,
Albert-Ludwigs University of Freiburg (D)
1998-2000Adjunct Professor, Rice University, Houston (USA)
1995-1997Associate Professor, University of Basel (CH)
1993-1995Assistant Professor, University of Basel (CH)
1992-1993Visiting Assistant Professor, Managerial Economics and Decision Science Department (MEDS), Kellogg Graduate School of Management,
Northwestern University, Evanston (USA)
1989-1992Assistant Professor, University of Basel (CH)
1987-1989Research Assistant, Financial Markets Group, London School of Economics (UK)
Teaching Assistant, Economics Department, London School of Economics (UK)


1995Habilitation, Venia Legendi in Nationalökonomie, University of Basel
1990Ph.D. in Economics, London School of Economics
1986Diplomvolkswirt, University of Bonn
- 1984/5Exchange Program, UC Berkeley
- 1983Vordiplom in Mathematics, University of Frankfurt
- 1982Vordiplom in Economics, University of Frankfurt
1979Abitur, Gymnasium Tutzing


Bank of Finland, Helsinki, Finland
Bendheim Center for Finance, Princeton, USA
CEMFI, Banco d´Espagna, Madrid, Spain
CentER, Tilburg University, Tilburg, The Netherlands
Collegio Carlo Alberto, Moncalieri, Torino, Italy
ECARE, Université Libre de Bruxelles, Bruxelles, Belgium
Einaudi Institute of Economics & Finance - EIEF, Roma, Italy
Federal Reserve Bank of Minneapolis, Minneapolis, USA
HECER, Helsinki, Finland
Institut d'Analisi Economica CSIC, Barcelona, Spain
Kellogg Graduate School of Management, Northwestern University, Evanston, USA
FMG at LSE, London, UK
Rice University, Houston, USA
SOAS, University of London, London, UK
Stanford University, Palo Alto, USA
Systemic Risk Centre, LSE, UK
Université Louis Pasteur, Strasbourg, France
Wharton School, University of Pennsylvania, Philadelphia, USA



2024Best Paper Award by International Atlantic Economic Society (joint with R. Stenbacka)
2024Summer Academy in St. Johann, Studienstiftung des Deutschen Volkes
2023Einaudi Research Fellow, EIEF, Rome
2022Visiting Professor, Stanford University
2022Visiting Professorship, LSE
2022Gesellschaftswissenschaftliches Kolleg, Studienstiftung des Deutschen Volkes
2018Visiting Research Fellow, Bank of Finland
2018Visiting Professorship, LSE
2017Visiting Scholar, University of Macau (deferred)
2017Summer Academy in St. Johann, Studienstiftung des Deutschen Volkes
2014SOAS-Centenary Fellow, University of London
2011Principal Investigator, VGSF, Wien
2010Chaired offer in "Finance", University of Vienna
2009FRIAS Senior Research Fellow, Freiburg Institute of Advanced Studies, funded by the German Excellence Initiative
2009Hanken Distinguished Senior Fellow, Helsinki
2009EUROPLACE Best Paper Award in Finance (joint with T. Foucault)
2008FRIAS Interdisciplinary Research Group "Pricing of Risk in Incomplete Markets" of the University of Freiburg (joint with Ernst Eberlein), funded by the German Excellence Initiative
2008Senior Research Fellow, Collegio Carlo Alberto, Moncalieri
2007Targeted Research Fellow, Ente Luigi Einaudi, Roma (deferred)
2005Hanken Distinguished Senior Fellow, Helsinki
2003Hanken Distinguished Senior Fellow, Helsinki
2001European Commission Fifth Framework Programme: "Privatisation and Financial Market Development" (predecessor to ERC)
2001Hanken Distinguished Senior Fellow, Helsinki
2001Chaired offer in "Economic Theory", University of Nürnberg-Erlangen
1998Fondation Banque de France Research Grant
1996Chaired offer in "Economic Theory", University of Freiburg
1996Chaired offer in "Monetäre Ökonomie und Finance", University of Zürich
1996Offer to Substitute for Chair in "Economic Theory" (NF Selten), University of Bonn
1990Offer "Junior Lecturer in Financial Economics", London School of Economics, London
1990Swiss Bank Corporation Dissertation Award for Outstanding Dissertation
1987-89Doctoral Fellowship of the Studienstiftung des Deutschen Volkes (LSE London)
1986-87Fellowship of the Deutscher Akademischer Austauschdienst (LSE London)
1984-85Fellowship Deutscher Akademischer Austauschdienst (UC Berkeley)
1980-86Fellowship of the Freistaat Bayern for excellent students (Stiftung Maximilianeum, BayBFG/Max-Weber-Program of Bavarian Elite Network since 2005)
1979Landessieger in Bayern, Bundeswettbewerb Mathematik


FWF (VGSF - doc.funds), 2024-2028.
OeNB Jubiläumsfonds, "Common Ownership and Systemic Risk in the Banking Sector", 2022-2026.
DFG: "Market Competition and Bank Capital" (joint with Goethe U., D), 2021-2024.
British Academy: Leverhulme Trust (joint with St. Andrews, UK), "Ownership and Resiliency of European Banks", 2021-2023.
Erasmus+ (joint with Birbeck College, UK), 2019-2020.
FWF (VGSF - doc.funds), 2018-2022.
FWF (VGSF - Doktoratskolleg), funding period 2014-2017.
OeNB Jubiläumsfonds, "Short-Sale Bans and Price Discovery", 2014-2016.
FWF (VGSF - Doktoratskolleg), funding period 2011-2013.
European Commission - LLP Erasmus (joint with Birbeck College, Vilnius University and Universita degli Studi Bologna), 2009-2011.
BMBF: "Emergency support in large disasters" (SOGRO jointly with U. Paderborn, U. Hohenheim and Siemens AG, D), 2009-2011.
DFG-Excellence Initiative (FRIAS), Research Group: "Pricing of Risk in Incomplete Markets" (joint with Ernst Eberlein), 2008-2013.
National Bureau of Statistics of China, Beijing, 2007-2009.
Deutsche Bundesbank Professorships: Fohlin (Johns Hopkins), Bertola (EUI), Nicodano (Torino), 2006-2008.
Volkswagen Foundation Research Grant: "Information Acquisition in Economic and Political Systems", 2003-2004.
DFG-Mercator Program, 2002.
Alexander-von-Humboldt Foundation and NSF, TransCoop: "Banks, Regulation, and the Performance of Early Securities Markets", 2001-2004.
European Commission - Fifth Framework Program: "Privatisation, Corporate Governance and Financial Markets Development" (joint with Fondazione Enrico Mattei, Milano, U. Amsterdam, U. Athen, City University London, U. Torino, U.Ivry), 2000-2001.
DAAD and Academy of Finland: "Information Sharing in Banking", 2000-2001.
Banque de France: "Costs, Competitiveness, and the Changing Structure of European Banking" , 1998-1999.
European Commission - Human Capital Mobility Program: "The New Economic Geography of Europe" (joint with LSE, U. Mannheim, U. Louvain) 1995-1997.
Schweizerische Bankiervereinigung: 1996-1999.
Schweizerischer Nationalfonds (SNF), three grants: 1992-93, 1994-96, 1996-99


Editor-in-ChiefSchmalenbach Journal of Business Research (since 2021), founded as a Golden Open-Access Journal of the German Association for Business Research (VHB) in cooperation with Schmalenbach Gesellschaft. The Schmalenbach Journal of Business Research merges the former flagship journals Business Research and Schmalenbach Business Review of the respective research associations. Publisher: Springer Nature.
EditorVierteljahreshefte zur Arbeits- und Wirtschaftsforschung. Publisher: Duncker&Humblot (since 2024).
Section Editor MicroeconomicsEconomics (since 2021). Economics is the successor of E-Journal Economics, an Open-Access, Open-Assessment E- Journal founded in 2006. Publisher: De Gruyter. IF (2019) = 1.098 (JCR Clarivate Anaytics 2020).
Foreign EditorQuarterly Journal of Economic Research (since 2019). Journal of the DIW Berlin, German Institute for Economic Research, founded in 1926 and fundamentally restructured in 2008. Articles are made available open access after one year of protected access.
Advisory BoardJournal of Risk and Financial Management - JRFM (since 2020).

Editor-in-ChiefBusiness Research, 2017-2020, founded as a Golden Open-Access Journal of the German Academic Association for Business Research (VHB) in 2008. Publisher: Springer Nature. Field Editor for the field of Finance since 2015 (succeeding Engelbert Dockner).
Co-EditorE-Journal Economics, 2013-2020, founded as an Open-Access, Open-Assessment E- Journal of the IfW-Kiel Institute for the World Economy in 2006. Publisher: Zentralbibliothek für Wirtschaftswissenschaften (ZBW). IF (2019) = 1.098 (JCR Clarivate Anaytics 2020).
Associate EditorEconomica, 1996-2008, Journal of the London School of Economics founded in 1921. IF (2017) = 1.641.


Board of TrusteesLeibniz Institute for Financial Research - SAFE, Frankfurt, since 2020
Advisory BoardEnvironmental Science Research Network, Uni Wien, since 2020
Research FellowCentre for Economic Policy Research (CEPR), London; in program areas FE and IO since 1992
Research AssociateEuropean Corporate Governance Institute (ECGI), Brussels
Research AssociateSystemic Risk Centre (SRC), LSE, London
Member Market Microstructure Research Group, National Bureau for Economic Research (NBER), Boston
Invited MemberCommittee on Industrial Economics, German Economic Association
Committee on Theory and Policy of the Corporation, German Economic Association
ExpertEU - Horizon 2020, since 2017
ExpertEuropean Research Council, Advanced Grants, since 2008
Scientific Advisory Board Center for Advanced Studies in Management (CASiM), Handelshochschule Leipzig, since 2012
DirectorWorking Group "Financial Crises" of the ÖFG (Austrian Research Association), 2012-2019
Executive Committee European Association of Research in Industrial Economics (EARIE), 2005-2011
DirectorGesellschaftswissenschaftliches Kolleg: "Langfristige Herausforderungen in einer kurzlebigen Welt", Studienstiftung des Deutschen Volkes, 2021-2024, Springe, Wittenberg, Mannheim, Rastatt.
DozentStudienstiftung des Deutschen Volkes, Studenten machen Programm, Frankfurt, 2018 (joint with Oliver Landmann).
DozentStudienstiftung des Deutschen Volkes, Sommerakademie St. Johann (Ahrntal), 2017 (joint with Oliver Landmann).
VertrauensdozentStudienstiftung des Deutschen Volkes, Freiburg, 1997-2010.
AmbassadorLondon House Trust, since 1990.
AcademicAmerican Economic Association (AEA)
MembershipsAmerican Finance Association (AFA)
Econometric Society (ES)
European Association for Research in Industrial Economics (EARIE)
European Economic Association (EEA)
European Finance Association (EFA)
German Association for Economics and Business Administration (GEABA)
Verband der Hochschullehrer in Betriebswirtschaft (VHB)
Verein für Socialpolitik (German Economic Association)
Western Finance Association (WFA)

REFEREEING (selection)

Ad-hoc referee for more than 70 academic journals including the top-3 journals in Economics, the top-3 journals in Finance, the top-journal in management, and political science as well as most of the top-10 journals in the fields of Finance and Industrial Economics: American Economic Review, B.E. Journal in Theoretical Economics, Bulletin of Economic Research, Central European Journal of Operations Research, CESifo-Studien, Constitutional Political Economy, Economica, Econometrica, Economic Design, Economic Inquiry, Economic Journal, Economic Letters, Economic Policy, Economic Theory, Economics Bulletin, Economics (E-Journal), European Economic Review, European Journal of Political Economy, Financial History Review, Games and Economic Behaviour, Financial History Review, Games and Economic Behaviour, International Journal of Central Banking, International Journal of Industrial Organization, International Review of Law and Economics, Journal of Banking & Finance, Journal of Business Economics, Journal of Finance, Journal of Financial Economic Policy, Journal of Financial Economics, Journal of Financial Intermediation, Journal of Financial Markets, Journal of Economic & Management Strategy, Journal of Economic Behaviour & Organization, Journal of Economic Dynamics and Control, Journal of Economic Integration, Journal of Economic History, Journal of Economic Theory, Journal of Economics & Management Strategy, The Journal of Economic History, Journal of Empirical Finance, Journal of the European Economic Association, Journal of Financial Markets, Journal of Financial Services Research, Journal of Financial Stability, Journal of Industrial Economics, Journal of Institutional and Theoretical Economics, Journal of International Economics, Journal of Law, Economics & Organization, Journal of Money, Credit and Banking, Journal of Political Economy, Journal of Public Economics, Journal of Regional Science and Urban Economics, Journal of Regulatory Economics, Kredit und Kapital, Kyklos, Management Science, ORDO, Oxford Economic Papers, Quantitative Finance, RAND-Journal, Regional Science and Urban Economics, Review of Economic Design, Review of Economic Studies, Review of Finance, Review of Financial Studies, Review of Industrial Organization, Review of Law and Economics, Ricerca Economiche, Scandinavian Journal of Economics, Schmalenbachs Business Review, Small Business Review, Swiss Journal of Economics and Statistics.


Academy of Finland (FI), Agence Nationale de Recherche (F), Alexander-von Humboldt Stiftung (D), Alexander-von-Humboldt Forschungspreis (D), Collegio Carlo Alberto (IT), Deutsche Forschungsgemeinschaft (Sonderforschungsbereiche, Schwerpunktprogramme, Einzelförderungen), DFID (UK), ESRC (UK), ERC-Advanced Grants (EU), EU-Horizon 2020 (EU), Friedrich Ebert Stiftung (D), Freiburg Institute of Advanced Studies (D), Friedrich Naumann Stiftung (D), FWO (BE), John Simon Guggenheim Memorial Foundation (US), Landesstiftung Baden-Württemberg (D), LOEWE Exzellenzprogramm des Landes Hessen (D), National Science Foundation (US), The Netherlands Organization for Scientific Research - NWO (NL), Nobel Symposium Lindau (D), Leibniz Gemeinschaft (D), Max-Planck Forschungspreis (D), ÖNB-Jubiläumsfonds (A), MIUR (I), Research Grant Council (Hong Kong), SAFE-Frankfurt (D), Hans-Martin Schleyer Stiftung (D), Schweizerischer Nationalfonds (CH), Studienstiftung des Deutschen Volkes (D), Sveriges Riksbank (SE), Volkswagenstiftung (D).


External member of dissertation committees and/or opponent and reviewer or committee member in more than 35 instances. Recent external defenses include CEMFI (Madrid), EUI (Florence), Hanken School of Economics (Helsinki), HECER (Helsinki) and senior appointments/tenure decisions inlcude Aalto (Finland), U. Bolzano, Caltech (US), Cerge (Czech Rep.), TU Darmstadt, U. Frankfurt, U. Geneva (CH), Hanken (Finland), U. Hannover, LSE (UK), U. Heidelberg, U. Karlsruhe, U. Klagenfurt, U. Konstanz, Larnaca U. (Cyprus), KU Leuven (Belgium), U. Linz, U. Macao (China), U. Mannheim, Max Planck Gesellschaft, U. Regensburg, U. Southampton (UK), U. Ulm, U. Wien and U. Zürich (CH).


EFA, since 1997
EARIE, since 2008
World Finance Association, since 2014
German Finance Association (DGF), since 2016
Swiss Winter Conference in Financial Intermediation (SWCFI), Lenzerheide, since 2015
European Winter Summit in Finance (EWSF), regularly since 2010
German Academic Association for Business Research (VHB) - Annual Conference, since 2013
AEA, EEA, ESEM, FMA, German Economic Association, Western Finance Association: occasionally and/or regularly


Sixth Annual International Conference on "Ethics and Sustainability in Banking and Finance" , University of St. Andrews, Center for Responsible Banking & Finance (UK), in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and Department of Finance, University of Vienna, St. Andrews, November 2023.
38. Workshop of the "Austrian Working Group on Banking & Finance" (with Gyöngyi Loranth and Günter Strobl), Wien, September 2023.
11. Workshop: "Banks and Financial Markets" (with Michael Kötter, Thilo Pausch and Peter Welzel), IWH-Halle, May 2023.
Fifth Annual International Conference on "The Ethics of Business, Trade & Global Governance" of Department of Finance, University Vienna in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and University of St. Andrews, Center for Responsible Banking & Finance (UK), Wentworth-at-the-Sea, New Hampshire, USA, December 2022.
Fourth Annual International Conference on "The Ethics of Business, Trade & Global Governance" of Department of Finance, University Vienna in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and University of St. Andrews, Center for Responsible Banking & Finance (UK), Wentworth-at-the-Sea, New Hampshire, USA, December 2021 - POSTPONED DUE TO CORONA 4th WAVE.
10. Workshop: "Banken und Finanzmärkte" (with Michael Kötter, Thilo Pausch and Peter Welzel), Deutsche Bundesbank, Eltville, moved online due to Corona 4th wave, October 2021.
Third Annual International Conference on "The Ethics of Business, Trade & Global Governance" of Department of Finance, University Vienna in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and University of St. Andrews, Center for Responsible Banking & Finance (UK), Wentworth-at-the-Sea, New Hampshire, USA, December 2020 (due to pandemic conditions ultimately transformed into an online conference).
10. Workshop: "Banken und Finanzmärkte" (with Michael Kötter, Thilo Pausch and Peter Welzel), Halle, November 2020 (ultimately deferred to 2021 due to the Corona Pandemic)
Second Transatlantic Conference on "Data and Ethics" of Department of Finance, University Vienna in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and University of St. Andrews, Center for Responsible Banking & Finance (UK), Klosterneuburg 2019.
9. Workshop: "Banken und Finanzmärkte" (with Michael Kötter, Thilo Pausch and Peter Welzel), Wien, November 2019.
ÖFG-Conference on "After the Crisis is Before the Crisis" jointly with Martin Kocher ((IHS), Christian Laux (WU), Reinhard Neck (Klagenfurt), Alfred Wagenhofer (Graz) and Claudia Wöhle (Salzburg), Vienna, April 2019.
Joint Interdisciplinary Conference on "The Ethics of Business, Trade & Global Governance" of Department of Finance, University Vienna in cooperation with St. Anselm College, Center for Ethics in Business and Governance (USA) and University of St. Andrews, Center for Responsible Banking & Finance (UK), Portsmouth, New Hampshire, USA, November 2018.
8. Workshop: "Banken und Finanzmärkte" (with Thilo Pausch and Peter Welzel), Augsburg, October 2018.
7. Workshop: "Banken und Finanzmärkte" (with Thilo Pausch and Peter Welzel), Deutsche Bundesbank, Eltville, October 2017.
ÖFG-Panel: "Unintended Consequences of Financial Regulation" , Jahreskonferenz des Verein für Socialpolitik, Wien, September 2017.
ÖFG-Conference: "Regulation of Financial Institutions as a Factor of Systemic Risk" (with Matthias Bank, Alfred Wagenhofer and Josef Zechner), Innsbruck, November 2016.
6. Workshop: "Banken und Finanzmärkte" (with Thilo Pausch and Peter Welzel), Wien, October 2016
Joint Finance Seminar with the Hebrew University (jointly with Yishay Yafeh), Wien, September 2016.
Econometric Society: Session on "Financial Crises in Historical Perspective" (with Markus Brunnermeier, Charles Calomiris and Gary Gorton), ASSA-Meetings, San Francisco, January 2016.
5. Workshop: "Banken und Finanzmärkte" (jointly with Thilo Pausch and Peter Welzel), Augsburg, November 2015
ÖFG-Conference: "Accounting, Information, and Financial Crises" (jointly with Matthias Bank, Alfred Wagenhofer and Josef Zechner), Graz, November 2015.
"32nd Annual Conference of the European Association of Law and Economics- EALE 2015" (jointly with Peter Lewisch and Wolfgang Weigel), Vienna, September 2015.
ÖFG-Panel Discussion: "Comprehensive Assessment of the ECB: How resilient are European banks?" (with Claus Puhr), Vienna, November 2014.
Transatlantic Conference on Banks and Government in Globalized Markets (with Enrique Mendoza, Linda Tesar and Martin Summer) sponsored by CEPR, University of Michigan, University of Pennsylvania and OeNB, Vienna, September 2013.
ÖFG-Conference: Die Finanzkrisen des 21. Jahrhunderts (jointly with Erich Kirchler, Dennis Müller, Reinhard Neck, Alfred Wagenhofer and Josef Zechner), Vienna, October 2012.
CEPR-OeNB-Conference: Bank Supervision and Resolution - National and International Challenges (with Gyoengyi Loranth, Peter Mooslechner and Martin Summer), Vienna, October 2011.
FRIAS-CEPR-RFS Workshop: Information, Liquidity and Trust in Incomplete Financial Markets (with Ernst Eberlein), Freiburg, October 2010
Deutsche Bundesbank-FRIAS Workshop: Information and Liquidity in Incomplete Financial Markets (with Ernst Eberlein and Hans-Helmut Kotz), Eltville, March 2010.
CEPR-ETH Workshop: Banking and the Macroeconomy (with Franklin Allen, Hans Gersbach, Martin Hellwig, Dimitri Vayanos, Jaume Ventura), Zürich, November 2007.
Yrjö-Jahnsson Foundation Conference: Competition Strategies and Customer Relations (with Rune Stenbacka), Helsinki, November 2004.
TransCoop Conference of the Alexander-von-Humboldt Foundation in Cooperation with CEPR and the Review of Finance: Early Securities Markets (with Caroline Fohlin and Richard Stehle), Berlin, October 2004.
EU-Conference (3rd FP): Privatisation, Corporate Governance, and Financial Markets Development (with Bernardo Bortolotti, Francesco Giavazzi, William Megginson, Enrico Perotti and Carlo Scarpa), Milano, July 2002.
CEPR-Workshop: The Geography of Financial Markets (with Marco Pagano), Napoli, May 1996.

Participation in Major Conferences or International Workshops (selection)

2024VHB (Lüneburg), Sustainable Finance (Wien), RCEA (London).
2023NBER-Big Data and Securities Markets* (Boston), 95. IEAS (Roma), Financial Integration Workshop (London-online), Banks and Financial Markets (IWH Halle), DIW-Workshop: "Aktuelle Herausforderungen der Geld, Regulierungs- und Währungspolitik" (Berlin), IIOC (Washington), NBER-Big Data and High Performance Computing (Boston), ESSFM 2023 (Gerzensee), EARIE* (Roma), DGF* (Hohenheim), Schmalenbach Gesellschaft (Düsseldorf), Ethics and Sustainability in Banking (St. Andrews).
2022VHB-Jubiläumstagung* (Düsseldorf), ZBW* (Hamburg), NBER Summer Institute Big Data and Securities Markets* (Boston), ÖAW, FIRS 2022 (Budapest)*, WFA 2022 (Portland)*, IFABS (Napoli), FDIC/JFSR(Arlington), UN-Sustainable supply chains in times of multiple crises, SIIIC 2022** (Roma), Ethics of Business, Trade and Global Governance* (Portsmouth, NH)**, UNIDO - Forum on Industrialization and Globalization: Supply Chains, 35th AFBC* (Sydney)
2021 FIT*(UCL-London), SWCFI* (Lenzerheide)*, IO* (DIW-Berlin), Swiss Finance* (St. Gallen), UT* (Valendar), 3 Warsaw Money-Macro-Conference*, Econometric Society - North America* (Montreal), European Symposium on Money, Banking and Finance* (Banque de France), NOeG* (Innsbruck), EFMA* (Leeds), WFC* (Kristiansand), Econometric Society - Australasian Meeting* (Melbourne), 2nd Sustainable Finance Forum* (Shanghai), Econometric Society - Europe (Copenhagen)*, MMF (Cambridge)*, VfSP (Regensburg)*, FDIC/JFSR(Arlington)*, The Microstructure Exchange (New York)*, NBER-Big Data and Securities Markets* (Boston)
2020VHB 2020 (SAFE-Frankfurt), IO* (Düsseldorf), SWCFI 2020* (Lenzerheide), ESSET 2020* (Gerzensee), EFA 2020* (Aalto), 35. AWG* (Graz), Ethics of Business and Trade (Portsmouth)
2019VHB-Blockchain (TUM München), ZBW (Berlin), ÖFG-After the Crisis is Before the Crisis (Vienna), VfSP-Unternehmenstheorie (ZEW Mannheim), VHB (Rostock), IRMC (Bocconi, Milano), ESSFM (Gerzensee), ESEM (Manchester), Data & Ethics (Vienna), ESRB ATS (Vienna)
2018EWFS (St. Moritz), CEPR 3rd Annual Spring Symposium (Imperial, London), DFG-SAFE Conference on Macroeconomic Performance and Financial Stability (Frankfurt), VHB (Magdeburg), Bank of England-CEPR-Imperial: Competition and Regulation in Financial Markets (London), EFMA (Milano), 6th CEPR Economic History Symposium (Banca d'Italia, Roma), IFABS (Porto), ESSFM (Gerzensee), EEA (Cologne), Industry 4.0 (HHL Leipzig), GEABA (Frankfurt), Ethics of Business and Trade (Portsmouth, NH)
2017National Bank of Belgium (Brussels), SWCFI (Lenzerheide), Chapman (LA), Bank of Finland (Helsinki), VHB (St. Gallen), EFA (Mannheim), EEA/ESEM (Lisboa), Verein für Socialpolitik (Wien), Bundesbank (Eltville), Santiago Finance Workshop (Chile)
2016ASSA-ES (San Francisco), SWCFI (Lenzerheide), CEPR 1st Annual Spring Symposium (Imperial, London), VHB (München ), SAFE-CFS (Frankfurt), European Conference in Banking and Finance (Bologna), Verein für Socialpolitik (Augsburg), GEABA (Basel), NBER (Boston), Ridge-Banco Central de Uruquay (Montevideo)
2015SWCFI (Lenzerheide), CEPR (Oxford), IO (Berlin-ESMT), Verein für Socialpolitik (Münster), EFA (Vienna), EALE (Vienna), Bank of Ireland (Dublin)
2014ÖAW (Wien), SOAS (London), EARIE (Milano), ESEM (Toulouse), Bundesbank (Eltville)
2013SWCFI (Lenzerheide), EWFS (Obertauern), FIRS (Dubrovnik), CEPR-ÖNB-Michigan-Philadelphia (Wien), GEABA (Regensburg), Liberty Fund (Vienna), DFG/MPI - Confernce on Banking Structure (Bonn), ECB-Banque de France (Paris)
2012Credit Risk and Liquidity (Freiburg), IO (München), DGF (Hannover), Paris Corporate Finance Spring, Norges Bank (Oslo), GEABA (Graz), CEPR-ECB-RoF (Frankfurt), Heidelberg Center for American Studies
2011IO (Wien), EWSF (Hermagor), Paris Corporate Finance, ECGI (Brussels), EFA (Stockholm), GEABA (Zürich), CEPR-ÖNB (Wien), Fondazione Palazzo Strozzi (Florence)
2010FRIAS-Bundesbank (Eltville), Historical Stock Markets in Perspective (Cambridge), ESSFM (Gerzensee), FRIAS-CEPR-RFS (Freiburg), MTS-Conference in Financial Markets (London), CEPR (St. Gallen)
2009 ZEW (Mannheim), ESSET (Gerzensee), EARIE (Ljubliana), FRIAS (Freiburg)
2008 ASSA-AEA (New Orleans), ESSFM (Gerzensee), EEA (Milano), Bundesbank-Cesifo (Müchen)
2007 ASSA-AFA (Chicago), ESSFM (Gerzensee), EARIE (Valencia), CEPR (Zürich)
2006 IO (Boston), EFA (Zürich), ESEM (Wien), Bank of Canada (Toronto)
2005 ...

Invited Lectures (selection)

2024Graz, JWG Frankfurt, Edinburgh
2023Roma, Helsinki*, St. Andrews, Osnabrück**
2022Royal Holloway, Birbeck, UC San Diego, Stanford, UC Davis, East Anglia (Norwich)**
2021Zürich-UZH/ETH*, U.Wien*, Newcastle U.*, VGSF*, SRC-LSE*, METU-Ankara*
2020Distinguished Lecture Series, Rechtswissenschaften U. Wien*, Zürich-UZH*
2019Banque de France, U. Wien, Zürich-UZH/ETH*, St. Andrews, JWG Frankfurt, Helsinki
2018HU Berlin, Bank of England, Royal Holloway, Glasgow, Bank of Finland, HHL Leipzig
2017LSE, Newcastle, ÖNB, DIW Berlin
2016VJES, SAFE-Policy Frankfurt, BIS, Nice, St. Gallen, Harvard
2015BMWFW, SAFE-Micro Frankfurt, Bank of Finland
2014Eichstätt, SOAS-London, U. Wien, VGSF
2013National Bank of Serbia, Augsburg, HHL Leipzig, Dist.Lect.Series in Law U. Wien
2012Linz, Regensburg, Würzburg, HECER Helsinki, Norges Bank (Oslo)
2011EBS-Wiesbaden, ÖNB, U. Wien
2010ESMT Berlin, U. Michigan, Ross School, Ann Arbor, IHS
2009Edinburgh, Düsseldorf, Karslruhe, U. Wien
2008HU Berlin, Collegio Carlo Alberto (Moncalieri), Bochum
2007MPI Jena, Gothenburg, Mannheim
2006 ...

Invited Discussions and Comments (selection)

2023Thomas Gries: Growth with mismatch: Theory and evidence from total factor productivity estimates, 95th IAES, Roma.
2022Inaki Aldasoro, Nikola Tarashev, Wenqian Huang: Asset managers, market liquidity and banking regulation, 35th. AFBC 2022, Sydney (online).
2021John Kuong and Vincent Maurin: The Design of Central Counterparties, SGF 2021, St. Gallen (online).
2020Open Access Transformation Workshop, VHB 2020 Annual Conference, Frankfurt (online).
2019Open Access and Open Science, VHB Annual Conference, Rostock.
2019Marc Arnold, Matthias Pester, Marti Subrahmanyam: Paying Attention, VHB Annual Conference, Rostock.
2018Sabine Böckem and Urs Schiller: Bank Runs and Accounting for Illiquid Bank Assets, GEABA, Frankfurt.
2018Christoph Maidl and Corinna Woyand:How Ownership Concentration Affects Bank Capital Buffers: The Influence of Regulation and Market Discipline, VHB-Tagung, Magdeburg.
2017Simon Martin and Karl Schlag: Final Horizon Holdup and How to Cross the River, Verein für Socialpolitik, Wien.
2017Laura Alfaro: Credit Supply Shocks, Network Effects, and the Real Economy, Finance and Development, DIW Berlin.
2017Anton Tsoy: Distorted Advice in the Mortgage Market: Theory and Structural Estimation, SWCFI Lenzerheide.
2016Stefan Wielenberg: Insolvency Administrator’s Incentives and the Tradeoff between Creditor Satisfaction and Efficiency in Bankruptcy Procedures, GEABA, Basel.
2016Charles Calomiris: Liquidity Risk, Bank Networks and the Value of Joining the FED, ASSA 2016, Econometric Society, San Francisco.
2015James Spindler: Taking a Dive: Long-term Incentives to Underperform in the Short Term, EALE 2015, Wien.
2015Niklas Bergren: Does social trust speed up reforms? The case of central bank independence, EALE 2015, Wien.
2015Ansgar Walther: Jointly Optimal Regulation of Bank Capital and Liquidity, SWCFI Lenzerheide.
2014A. Czerny and R. Lindsay: Multiproduct Pricing with Core Goods and Side Goods, GEABA, Regensburg.
2013Joint discussion of Soren Korsgaard: Paying for Payments, and of David Humphrey: Competition in Bank-Provided Payment Systems, ECB and Banque de France Conference on "Retail Payments at Crossroads: Economics, Strategies and Future Policies", Paris.
2013Alexander Barinov: Stocks with Extreme Past Returns: Insurance or Lotteries?, FIRS 2013, Dubrovnik.
2013Simon Gervais and Gunter Strobl: The Industrial Organization of Money Management, FIRS 2013, Dubrovnik.
2013Arnoud Boot and Lev Ratnovsky: Banking and Trading, SWCFI, Lenzerheide.
2012Augustin Landier: Vulnerable Banks, Norges Bank Workshop "Understanding Macroprudential Regulation", Oslo.
2012Björn Brand: The Strategic Choice of Organizational Design in a Vertically Integrated Producer, GEABA 2012, Graz.
2012Andrew Winton and Vijay Yerramilli: Lender Moral Harzard and Reputation in Originate-to-Distribute Markets, Fourth Paris Spring Conference, Paris.
2012Daniel Krähmer and Roland Strausz: The Benefits of Sequential Screening, Jahrestagung des Ausschuß für Industrieökonomik, Ifo-Institut, München.
2011Thilo Pausch and Peter Welzel: Regulation, Credit Risk Transfer with CDS, and Bank Lending, GEABA 2011, Zürich.
2011Thomas Philippon and Vsiliki Skreta: Optimal Interventions in Markets with Adverse Selection, Third Spring Paris Corporate Finance Conference, Paris.
2011Moez Bennouri, Sonja Falconeri, Daniel Weaver: Trading Mechanism, Ex-Post Uncertainty and IPO Underpricing, EWFS, Hermagor.
2011Volker Nocke, Michael Whinston: Merger Policy and Merger Choice, Jahrestagung des Ausschuß für Industrieökonomik, Wien.
2010Hans Gersbach: Bank Capital and the Optimal Capital Structure of an Economy, CEPR-Workshop St. Gallen.


More than 50 placements at universities (including Aarhus, Basel, Bayreuth, HU Berlin, Birbeck, Cambridge University UK, Carlos III, CERGE-Praha, Copenhagen Business School, TU Dortmund, ETH Zürich, Fresenius University of Applied Sciences, JWG-Frankfurt, Frankfurt School of Finance & Management, Freiburg, Hannover, Heidelberg, Stuttgart-Hohenheim, Keimyung University Daegu, King`s College, Hong Kong, LSE, KU Leuven, Liverpool, LSE, U. Macao, Mannheim, MIT, Monash University, MPI-Bonn, MPI-Heidelberg, MPI-Jena, Middle East Technical University (METU)-Ankara, Universite de Neuchatel, Nijmegen, Ohio State, Paris School of Economics, SAFE Frankfurt, SFI Geneva, SFI Lausanne, SFI Lugano, SFI Zürich, SSE Stockholm, St. Andrews, St. Anselm College, St. Gallen, Santiago de Chile-Universita Catolica, National University of Singapore, TU Cologne, Tilburg, UAE Abu Dhabi, U. Zürich,... ) and academic research organisations including central banks and administration (Bank of England, Bank of Finland, Banco de Espana-CEMFI, BIS, BMF, Chinese Statistical Office, Federal Reserve Board of Governors, Deutsche Bundesbank, ECB, EIB, Federal Reserve San Francisco, Finanzministerium Berlin, Finanzministerium Thüringen, FMA, Foreign Affairs Office-Netherlands, IMF, JVI, Magyar Nemzeti Bank, Norges Bank, Österreichische Nationalbank - OeNB, Russian Presidential Academy of National Economy and Public Administration, Schweizerische Nationalbank, Swiss Bankers Association, World Bank, ...) and regulators or consultants (BDI, Bearing Point, Boston Consulting Group, BVI, CDC, Compass Lexecon, Cornerstone, CRA, E-CA, GCI Management, GfK, Kommunalkredit Austria AG, Linklaters LLP, NERA, OECD, Oxera Consulting, PKF, Samfunnsøkonomisk Analyse - Economics Norway, Schweizerische Bankiervereinigung, Shenzen Qianhai Authority, Statistisches Bundesamt, Strategy&, Swedish Competition Autority, zeb consulting,...). Numerous placements at private institutions mainly in the financial sector (Aargauer Kantonalbank, ABN-Amro Bank N.V., Allianz, Amundi, Banco do Brasil, Banco Santa Cruz, Bank of the West, BASF-Intertrade, BAWAG-P.S.K., Bank Austria, Bank of Chongqing, BDI, BearingPoint, BNP Paribas, Blackrock, Blättchen & Partner, BVI, Capital Bank - Grawe Group, Coface, Commerzbank, Credit Suisse, Cudos-Group, Deka Investment, Deloitte, Deniz Bank, Deutsche Bank, Dow Jones, DWS Group, DZ-Bank, ERGO, Ernst & Young, Erste Bank, Erste Asset Management, Generali, Helvetia, Hypovereinsbank, IHS Markit, IHK, ING, J.P.Morgan, KBR Group, Kathrein Privatbank, Kepler Fonds, KPMG, Merito Financial Solutions, Minchin Moore Private Wealth Advisors, Natixis, NatWest, Nordea, Paladin Asset Management, Pricewaterhouse Coopers Austria, Raiffeisen Bank International, Raiffeisenkasse Bruneck, Raiffeisen Landesbanken, SABIC Capital, Schelhammer & Schattera, Schoellerbank, SEB, Signa Real Estate, Sparkasse Salzburg, Spängler-IQAM, Sperbank, Standard Chartered, Swedbank, Swiss Life, Swiss Re, Trade Republic, UBS, Unicredito, Uniqa, US Development Finance Corporation - DFC, Venture Capital Investor, Versicherungskammer Bayern, Vienna Stock Exchange, Volksbank Freiburg, VP Algorithmic Trading, VTB, Wiener Städtische, Zurich Insurance, ZZ-Vermögensverwaltung, ...) but also real sector (Amazon, Arvato, BMW, Beiersdorf, Bombardier, Electrolux, E.ON, Frauenthal Group, FWTM Freiburg, GSA Technology & Innovation, Heise Gruppe, IHS Markit, Magna Int, OMV, Pachleitner Group, Price Edge, Roche, SAP, Siemens, Tyson Foods), NGOs (Ärzte ohne Grenzen, Caritas, CDU Bundestagsfraktion, Da Vinci Lab, Die Grünen, Don Bosco Finanzierungs AG, IGO, International Anti-Corruption Academy, Kath. Kirche Kärnten, Österreichisches Rotes Kreuz, Slow Food, ...), Media (Hubert Burda Media, FAZ, Handelsblatt, Mediacorp, NZZ, Standard, SZ, ZDF, ...) and many others.

VGSF PLACEMENTS (international academic placements only and central banks)

2022 University of Reykjavik
2022 Fisher College of Business, Ohio State University (Columbus, OH)
2020 University of Copenhagen
2019 Universidade Nova (Lisboa), Rijksuniversiteit Groningen
2018 University of Chicago (Booth School of Business), ECB (Frankfurt), Federal Reserve Board of Governors (Washington D.C.), Lancaster University Management School, Katholieke Universiteit Leuven
2017Erasmus University (Rotterdam), Universita della Svizzera Italiana (Lugano)
2016Bocconi University (Milano)
2015Humboldt University (Berlin)
2014Vrije Universiteit Amsterdam, University of Southern Denmark (Odense)
2013University of Aarhus, BI Norwegen Business School (Bergen), ÖNB
2012Georgia Institute of Technology (Atlanta), Humboldt University (Berlin), Zayed University (Abu Dhabi)
2011Carnegie Mellon, MIT (visiting)
2010University of Aarhus, University of Hong Kong, University of New South Wales (Sydney), Norwegian School of Economics (Bergen)


WiWi-Talents Award, 2023.
EIB Summer School 2021: "Exploring the Climate Bank", 2021.
Scholarship for European Forum Alpbach, 2020.
EIB Summer School 2020: "The role of the EIB-group in times of the current pandemic crisis", 2020.
Top-10 Award, Erste Asset Management Challenge 2018, Wien, Dezember 2018
Studienstiftung des Deutschen Volkes - Stipendiaten machen Programm: 10 Jahre Finanzkrise - Europäische Lehren für Finanzmarktstabilität und Geldpolitik, Frankfurt, Juni 2018
X. Förderkongress "Junge Wissenschaft und Wirtschaft" of the Hanns-Martin-Schleyer Foundation, Berlin, Mai 2018
Internship at J.P. Morgan, London 2017
Internship at Raiffeisen Bank, Wien 2017
2 Master Student Awards of the Faculty of Business, Economics and Statistics, Wien 2016
Internship at the European Parliament, Brussels 2016
Master Student Award of the Faculty of Business, Economics and Statistics, Wien 2014
Scholarship for 5th Lindau Symposium of Nobel Laureates, Konstanz 2014
VGSF Best Paper Award, Wien 2012
Friedrich-August-von-Hayek Award for the Best Diplom, Freiburg 2010
Constantin-von-Dietze Prize for the Dissertation, Freiburg, 2010
Südwestmetall Prize for the Dissertation, Freiburg, 2010
Fellowship to participate at the TARK 2009 Conference (Theoretical Aspects of Rationality and Knowledge), Stanford 2009
W2-Research Professorship, Max-Planck-Institute, Jena, 2006
2 Scholarships for 2nd Lindau Symposium of Nobel Laureates, Konstanz 2006
Baden-Württemberg Scholarship to visit Yale University (New Haven), 2005
Friedrich-August-von-Hayek Award for Best Dissertation, Freiburg 2003
Baden-Württemberg Scholarship to visit the University of Pennsylvania (Philadelphia), 2003
1. Prize for Diplomarbeiten, Deutsches Aktieninstitut, Frankfurt, 2001
Best Paper Award Journal of Banking & Finance, 2001
2. Prize for Diplomarbeiten, Deutsches Aktieninstitut, Frankfurt, 2000


Universität Wien
since 7/2023Founding Speaker, Oskar-Morgenstern-Doctoral School (OMDS)
since 9/2022Director of Doctoral Studies (DSPL) and member of the extended Faculty Board
since 10/2020Coordinator of the Finance Track of the Oskar-Morgenstern Doctoral School (OMDS)
since 10/2018Member of the Fakultätskonferenz
since 12/2010Principal Investigator and Coordinator at the University of Vienna, Vienna Graduate School of Finance
10/2019-9/2020Member of the Joint Curricular Working Group: Master of Applied Economics and Research Master in Economics & Finance
10/2018-9/2020Director of Doctoral Studies (DSPL) and member of the extended Faculty Board
5/2018-9/2020Chairman of the Faculty Working Group "Lehre", relabelled Working Group "Strategy" in 1/2019.
10/2015-9/2018Member of the Board for Doctoral Studies
10/2013-9/2018Vice Head of Department, Department of Finance
6/2015-1/2018Member of the Research Board
9/2015-6/2016Member of the Joint Curricular Working Group: Master of Business and Master of Banking & Finance
6/2015-12/2015Member of the Strategy Board
10/2014-09/2016Member of the Fakultätskonferenz
6/2013-09/2014Vice Director of Studies: Management, Finance and QEMF
2013-2015Member of the Program Advisory Board, 650 Years University of Vienna
2013Member of the Curricular Working Group: Master of Economics
10/2012-12/2014Director "Ethical Finance", Postgraduate Studies
10/2012-09/2014Vice Dean for International Affairs
1/2011-09/2013Founding Head of Department, Department of Finance

Albert-Ludwigs Universität Freiburg
12/2008-08/2010Founding Board Member of the Interdisciplinary Research Center for Security and Society (Economics, Law, Microsystem and Computer Technology, Political Science, Psychology, Sociology in Cooperation with Fraunhofer Gesellschaft and the Max-Planck Institute Freiburg): Focus on societal vulnerabilities - in a broad sense (i.e. economical, medical, political,...) - and resiliency in a global world.
9/2006-8/2009 Member of the steering board for a cooperation project with the Chinese National Bureau of Statistics, Beijing, on executive training.
10/2004-9/2008Associate Dean, Department of Economics and Behavioural Sciences.
2/2002-08/2010Departmental Director of International Affairs
3/2002-7/2005Director of the Examinations Board in Economics (Vice Director 2005-2010)
9/2001-3/2008Founding Director (jointly with Günther Schulze) of the Integrated Masters Program (IMP), consisting of Master of Economics & Politics (M.Sc), Master of Finance (M.Sc.), and Master of Internet Economics (M.Sc.), and Speaker of the Master of Finance (jointly with Oliver Landmann).
4/1997-08/2010Member of the Faculty Board
4/1997-08/2010Member of the Examinations Board in Economics