As social media has increased the reach and speed of electronic word-of-mouth (eWOM),
so it has intensified customers’ exposure to negative eWOM. Consequently, companies …

We test theoretical predictions of changes in make/take fees in a setting with isolated make
rebates for liquidity providers on a single trading venue (Xetra) by examining the impact on …

Circuit Breakers are widely implemented in 2016. Currently, the majority (86%) of the
responding trading venues use circuit breakers to ensure investor protection and to increase …

Risk represents a significant part of humans' interaction and has to be considered in various
decision-making processes across diverse business and research areas. Furthermore, the …

We investigate different designs of circuit breakers implemented on European trading
venues and examine their effectiveness to manage excess volatility and to preserve liquidity. …

Circuit breakers are important mechanisms used to prevent excess short-term volatility and
to ensure price continuity. This article presents the results of an international survey on the …

The new financial market regulation MiFID II/MiFIR will fundamentally change the trading
and market infrastructure landscape in Europe. One key aspect is the trading obligation for …

Understanding and managing counterparty credit risk exposure in derivatives contracts has
become a crucial element of real-world trading as well as theoretical modeling. But existing …

Despite poor performance, bear market funds have been growing rapidly in recent years. The
authors find that while bear funds exhibit timing ability, this surprisingly does not translate …

We study circuit breakers in a fragmented, multi-market environment and investigate whether
a coordination of circuit breakers is necessary to ensure their effectiveness. In doing so, we …