Research focus

Publikationen:

• Becker, M. G., Stolper, O., & Walter, A. (im Erscheinen)
  Investing by Example: Leveraging Peer Information in Digital Banking

  Journal of Behavioral and Experimental Economics. 

• Becker, M. G., & Walter, A. (im Erscheinen)
  From Branches to Browsers: A Comparative Analysis of Direct and Traditional Bank Clients in Germany

  Review of Financial Economics. 

• Stock, K., Tillmann, P., & Walter, A. (im Erscheinen)
  Eine Auswertung der Publikationsprofile von Berufenen auf VWL-Professuren in Deutschland

  Perspektiven der Wirtschaftspolitik. 

• Maier, T., Sahin, F., & Walter, A. (2026)
  Wenige Gewinner, viele Verlierer – Die positive Schiefe deutscher Aktienrenditen im Zeitraum von 2000–2024

  Corporate Finance, 3/2026, pp. 140–145.

• Fernandes, M., & Walter, A. (2026)
  Internationalität und Publikationsleistung bei Erstberufungen in der BWL: Ein Ländervergleich zwischen Deutschland, Österreich und der Schweiz

  Hochschulmanagement, 21(1), pp. 11–16.

• Stock, K., & Walter, A. (2026)
  The Evolution of Job Postings for Business Administration Professorships: Evidence for German Universities in the 2014–2022 Period

  Hochschulmanagement, 21(1), pp. 3–10.

• Scheld, D., Stolper, O., Fernandes, M. & Heyden, K. (2026)
  Affiliated Mutual Funds: Beyond the Reach of the Invisible Hand?

  Financial Management, pp. 1–22.  

• Stock, K., Tillmann, P., & Walter, A. (2025)
  Digital, nachhaltig, drittmittelstark: Die Ausschreibungen von VWL-Professuren in Deutschland
  Perspektiven der Wirtschaftspolitik, 26(1), pp. 24–33.                    

• Fernandes, M., Becker, M. G., Pull, K., & Walter, A. (2025)
  When a B becomes an A: causal evidence on the effects of a journal ranking update on academics’ publication behavior
  Studies in Higher Education, pp. 1–22. 

• Becker M. G, Walter A (2024)
  Anlageverhalten und Kundenprofile im Vergleich: Unterschiede zwischen Sparkassen, Genossenschaftsbanken und Großbanken
  Zeitschrift für Bankrecht und Bankwirtschaft, 36(6), pp. 382–392.

• Auzepy A, Bannier C.-E, Martin F (2023)
  Are sustainability-linked loans designed to effectively incentivize corporate sustainability?
  Financial Management, 688.
  
  
• Fernandes M, Hilber S, Sturm J.-E, Walter A (2023)
  Closing the Gender Gap in Academia? Evidence from an Affirmative Action Program
  Research Policy, 52.
  
  
• Fernandes M, Walter A (2023)
  The times they are a-changin’: profiling newly tenured business economics professors in Germany over the past thirty years
  Journal of Business Economics, 93, pp. 1-43.
  
  
• Becker M (2023)
  The 24/7 anywhere branch: Mobile-banking improves financial decision-making – or does it?
  Zeitschrift für Bankrecht und Bankwirtschaft, 35(1), pp. 35-56.
  
  
• Scheld D, Tourneau A, Stolper O, Walter A (2022)
  Wie verständlich sind Angebotsschreiben der Rentenprodukte in der deutschen Lebensversicherung?
  Zeitschrift für Versicherungswesen, 20.
  
  
• Becker M, Stolper O, Walter A (2022)
  The Impact of Mobile Banking Adoption on Retail Banking in Germany
  Zeitschrift für das gesamte Genossenschaftswesen, 72, pp. 234-267.
  
  
• Becker M, Stolper O, Walter A (2022)
  What Drives Mobile Banking Adoption? – An Empirical Investigation Using Transaction Data
  Zeitschrift für Bankrecht und Bankwirtschaft, 34, pp. 1-11.
  
  
• Fernandes M, Walter A (2022)
  Publication Behavior in Different Fields of Business Administration: From Anecdotal to Empirical Evidence
  Schmalenbach Journal of Business Research, 74, pp. 265–306.
  
  
• Becker M. G, Martin F, Walter A (2022)
  The power of ESG transparency: The effect of the new SFDR sustainability labels on mutual funds and individual investors
  Finance Research Letters, 47.
  
  
• Czaja D, Röder F (2022)
  Signalling in initial coin offerings: The key role of entrepreneurs’ self‐efficacy and media presence
  Abacus 58 (1), pp. 24-61.
  
  
• Bofinger Y, Heyden K.-J, Rock B (2022)
  Corporate social responsibility and market efficiency: Evidence from ESG and misvaluation measures
  Journal of Banking & Finance 134, 106322.
  
  
• Bofinger Y, Heyden K.-J, Rock B, Bannier C.-E (2021)
  The sustainability trap - fund managers’ skill evaluation between ESG and fund overpricing
  Finance Research Letters, 45.
  
  
• Scheld D, Stolper O, Walter A (2021)
  Double Dutch Finally Fixed? A Large-scale Investigation into the Readability of Mandatory Financial Product Information
  Journal of Consumer Policy, 44, pp. 151–178.
  
  
• Heyden K.-J, Heyden T (2021)
  Market reactions to the arrival and containment of COVID-19: An event study
  Finance research letters 38, 101745.
  
  
• Miersch E, Schäfer N (2021)
  Every cloud has a silver lining: On the relation between bank-affiliated asset manager bias and mutual fund fees
  Credit and Capital Markets, 54, pp. 79-116.
  
  
• Miersch, E (2020)
  Research Evaluation of Financial Research - Evidence from a Survey
  Credit and Capital Markets, 53, pp. 383-419.
  
  
• Brenner L, Meyll T, Stolper O, Walter A (2020)
  Consumer Fraud Victimization and Financial Well-Being
  Journal of Economic Psychology, 76, 102243.
  
  
• Brenner L, Meyll T (2020)
  Robo-advisors: A substitute for human financial advice?
  Journal of Behavioral and Experimental Finance, 25.
  
  
• Meyll T, Pauls T, Walter A (2020)
  Why Do Households Leave Money on the Table? The Case of Subsidized Pension products
  Journal of Behavioral Finance, 21, pp. 266-283.
  
  
• Heyden K.-J, Röder F (2019)
  The Smart Money Effect in Germany - Do Investment Focus and Bank-Affiliation Matter?
  The European Journal of Finance, pp. 1125-1145.
  
  
• Czaja D, Tourneau A (2019)
  Die Uhr tickt
  Zeitschrift für Versicherungswesen, 70, pp. 248-251.
  
  
• Stolper O, Walter A (2019)
  Birds of a Feather: the Impact of Homophily on the Propensity to Follow Financial Advice
  Review of Financial Studies, 32, pp. 524-563.
  
  
• Meyll T, Walter A (2019)
  Tapping and Waving to Debt: Mobile Payments and Credit Card Behavior
  Finance Research Letters, 28, pp. 381-387.
  
  
• Bannier C.-E, Meyll T, Röder F, Walter A (2019)
  The Gender Gap in 'Bitcoin literacy'
  Journal of Behavioral and Experimental Finance, 22, pp. 129-134.
  
  
• Röder F, Walter A (2019)
  What Drives Investment Flows into Social Trading Portfolios?
  Journal of Financial Research, 42, pp. 383-411.
  
  
• Tillmann P, Walter A (2019)
  The Effect of Diverging Communication: The Case of the ECB and the Bundesbank
  Economics Letters, 176, pp. 68-74.
  
  
• Bannier C.-E, Pauls T, Walter A (2019)
  Content Analysis of Business Communication: Introducing a German Dictionary
  Journal of Business Economics, 89, pp. 79-123.
  
  
• Becker M (2019)
  Empirische Evidenz zu Eigenschaften von Online- bzw. Mobile-Banking-Kunden in Deutschland
  Zeitschrift für Bankrecht und Bankwirtschaft, 31, pp. 42-58.
  
  
• Meyll T, Pauls T (2018): 
  The gender gap in over-indebtedness
  Finance Research Letters, 31, pp. 398-404. 
  
  
• Czaja D, Röder F (2018)
  Self-Attribution Bias and Overconfidence among Nonprofessional Traders
  The Quarterly Review of Economics and Finance, 78, pp. 186-198.
  
  
• Kerl A, Miersch E, Walter A (2018)
  Evaluation of Academic Finance Conferences
  Journal of Banking & Finance, 89, pp. 26-38.
  
  
• Stolper O (2017)
  It takes two to Tango: Households’ response to financial advice and the role of financial literacy"
  Journal of Banking & Finance, 92, pp.295-310.
  
  
• Herrmann L (2017)
  Mittelstandsanleihen und ihre privaten Investoren
  Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, 69, pp. 245-273.
  
  
• Herrmann L, Stolper O (2017)
  Investor Familiarity and Corporate Debt Financing Conditions
  Finance Research Letters, 23, pp. 263-268.
  
  
• Stolper O, Walter A (2017)
  Financial Literacy, Financial Advice, and Financial Behavior
  Journal of Business Economics, 87, pp. 581-643.
  
  
• Beck T, Grunert J, Neus W, Walter A (2017)
  What Determines Collection Rates of Debt Collection Agencies?
  The Financial Review, 52, pp. 259-279.
  
  
• Thomale C, Walter A (2016)
  Delisting als Regulierungsaufgabe
  Zeitschrift für Unternehmens- und Gesellschaftsrecht (ZGR), 2016, No. 5, pp. 679–728.
   
• Doukas J.-A, Walter A (2015) 
  European Financial Management Association (EFMA) Annual Meetings: A Retrospective Evaluation
  European Financial Management 21, pp. 790-810.
  
  
• Kadel A, Walter A (2015)
  Do scholars in Economics and Finance react to alphabetical discrimination?
  Finance Research Letters, 14, pp. 64–68.
  
  
• Kerl A, Ohlert M (2015)
  Star-analysts‘ forecast accuracy and the role of corporate governance
  Journal of Financial Research, 38, pp. 93-120.
  
  
• Arand D, Kerl A (2015)
  Sell-side analyst research and reported conflicts of interest
  European Financial Management, 21, pp. 20-51.
  
  
• Arand D, Kerl A, Walter A (2015)
  When do sell-side analyst reports really matter? Shareholder protection, institutional investors and the informativeness of equity research
  European Financial Management, 21, pp. 524-555.
  
  
• Baltzer M, Stolper O, Walter A (2014)
  Home-field advantage or a matter of ambiguity aversion? Local bias among German individual investors
  European Journal of Finance, 21, pp. 734-754.
  
  

• Kerl A, Schürg C, Walter A (2014)
  The impact of Financial Times Deutschland news on stock prices – post announcement drifts and inattention of investors
  Financial Markets and Portfolio Management, 28, pp. 409-436.
  

• Franck A, Kerl A (2014)
  The impact of fund characteristics on the use of analyst forecasts
  Journal of Asset Management, 15, pp. 92-109.
  
  
• Frey S, Herbst P, Walter A (2014)
  Measuring Mutual Fund Herding - A Structural Approach
  Journal of International Financial Markets, Institutions and Money, 15, pp. 219-239.
  
  
• Kerl A,  Pauls T (2014)
  Analyst herding and investor protection: a cross-country study
  Applied Financial Economics, Vol. 24, 8, pp. 533–542.
   
• Baltzer M, Stolper O, Walter A (2013)
  Is local bias a cross-border phenomenon? Evidence from individual investors’ international asset allocation
  Journal of Banking and Finance, 37, pp. 2823-2835.
  
  
• Franck A, Kerl A (2013)
  Analyst forecasts and European mutual fund trading
  Journal of Banking & Finance, 37, pp. 2677–2692. 
  
  
• Franck A, Walter A, Witt J (2013)
  Momentum Strategies of German Mutual Funds
  Financial Markets and Portfolio Management, 27, pp. 307-332.
  
  
• Franck A, Walter A (2013)
  Portfolio Complexity and Herd Behavior: Evidence from the German Mutual Fund Market
  Kredit und Kapital, 45, pp. 343-371.
  
  
• Kerl A, Stolper O, Walter A (2012)
  Tagging the Triggers: An Empirical Analysis of Information Events prompting Sell-side Analyst Reports
  Financial Markets and Portfolio Management, 26, pp. 217-246.
  
  
• Kerl A (2011)
  Target price accuracy
  BuR Business Research Journal, 4, pp. 74–96.
  
  
• Walter A (2011)
  The effects of coauthorship on the quality of financial research papers 
  Zeitschrift für Betriebswirtschaft, 81, pp. 205-234.
  
  
• Kerl A, Walter A (2009)
  Long-run Performance Evaluation of Journalists’ Stock Recommendations
  Kredit und Kapital, 42, pp. 213-243.
  
  
• Naujoks M, Aretz K, Kerl A, Walter A (2009)
  Do German Security Analysts Herd?
  Financial Markets and Portfolio Management, 23, pp. 3-29.
  
  
• Neus W, Walter A (2008)
  Kursgewinne durch Entlassungspläne? Erste Ergebnisse aus Deutschland
  Perspektiven der Wirtschaftspolitik, 10, pp. 1-20.
  
  
• Baltzer M, Walter A (2008)
  Erfolgsfaktoren beim Biathlon: Werden die Rennen am Schießstand entschieden?
  Sportwissenschaft, 38, pp. 272-287.
  
  
• Dymke B.-M, Walter A (2008)
  Insider Trading in Germany – Do Corporate Insiders Exploit Inside Information?
  Business Research, 1, pp. 188-205.
  
  
• Kerl A, Walter A (2008)
  Never Judge a Book by Its Cover – What Security Analysts Have to Say Beyond Recommendations
  Financial Markets and Portfolio Management, 22, pp. 289-321.
  
  
• Kerl A, Walter A (2008)
  The Usual Suspects: The Effects of Attention on Journalists’ Stock Recommendations
  Applied Financial Economics Letters, 4, pp. 97-101.
  
  
• Neus W, Walter A (2008)
  Lines of Research in Fifty Years of Corporate Financial Theory
  Zeitschrift für Betriebswirtschaft, Special Issue 6/2008, pp. 1-38.
  
  
• Brixner J, Walter A (2007)
  Stock Prices and the Dissemination of Second-hand Information – New Evidence from Germany
  Applied Economics Letters, 14, pp. 91-94.
  
  
• Kerl A, Walter A (2007)
  Market Responses to Buy Recommendations Issued by Personal Finance Magazines: Effects of Information, Price-Pressure, and Company Characteristics
  Review of Finance, 11, pp. 117-141.
  
  
• Eisele F, Walter A (2006)
  Motive für den Rückzug von der Börse – Ergebnisse einer Befragung deutscher Going Private-Unternehmen
  Zeitschrift für betriebswirtschaftliche Forschung, 58, pp. 807-833.
  
  
• Eisele F, Walter A (2006)
  Finanzwirtschaftliche Charakteristika deutscher Going Private–Unternehmen
  Finanz Betrieb, 7, pp. 360-372.
  
  
• Walter A, Weber F.-M (2006)
  Herding in the German Mutual Fund Industry
  European Financial Management, 12, pp. 375-406.
  
  
• Grupp B.-M, Neus W, Walter A (2006)
  Der Erfolg von Börseneinführungen mit Beteiligung von Business-Angels – Eine empirische Untersuchung für den deutschen Kapitalmarkt
  Finanz Betrieb, 7, pp. 343-351.
  
  
• Eisele F, Walter A (2006)
  Kursreaktionen auf die Ankündigung von Going Private-Transaktionen am deutschen Kapitalmarkt
  Zeitschrift für betriebswirtschaftliche Forschung, 58, pp. 337-362.
  
  
• Eisele F, Götz A, Walter A (2003)
  Going Private-Transaktionen am deutschen Kapitalmarkt – Eine empirische Bestandsaufnahme
  Finanz Betrieb, 5, pp. 839-850.
  
  
• Eisele F, Götz A, Walter A (2003)
  Motive, Gestaltungsalternativen und Ablauf eines Going Private – Ein alternativer Erklärungsansatz für das Börsenrückzugsphänomen
  Finanz Betrieb, 5, pp. 479-485.
  
  
• Hirth H, Walter A (2002)
  Investition, Imitation und Reputation
  Betriebswirtschaftliche Forschung und Praxis, 54, pp. 35-47.