Maximilian Muhn

University of Chicago - Booth School of Business

5807 S. Woodlawn Avenue

Chicago, IL 60637

United States

SCHOLARLY PAPERS

10

DOWNLOADS

19,030

TOTAL CITATIONS

76

Scholarly Papers (10)

1.

Bloated Disclosures: Can ChatGPT Help Investors Process Information?

Chicago Booth Research Paper No. 23-07, University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-59, Fama-Miller Working Paper
Number of pages: 68 Posted: 21 Apr 2023 Last Revised: 20 Mar 2025
Alex G. Kim, Maximilian Muhn and Valeri V. Nikolaev
University of Chicago Booth School of Business, University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 8,872 (1,501)
Citation 25

Abstract:

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ChatGPT, GPT, LLM, generative AI, informativeness, information processing, conference calls, summarization, disclosure, information asymmetry, MD&A, bloat

2.

From Transcripts to Insights: Uncovering Corporate Risks Using Generative AI

Chicago Booth Research Paper No. 23-19, Fama-Miller Working Paper, University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-132
Number of pages: 61 Posted: 07 Oct 2023 Last Revised: 20 Mar 2025
Alex G. Kim, Maximilian Muhn and Valeri V. Nikolaev
University of Chicago Booth School of Business, University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 3,394 (7,656)
Citation 4

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GPT, ChatGPT, large language models, generative AI, risk information, firm-level risk exposure, conference call, political risk, AI risk, climate change risk

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

European Corporate Governance Institute (ECGI) - Law Working Paper No. 446/2019
Number of pages: 84 Posted: 29 Nov 2017 Last Revised: 13 Oct 2023
University of Chicago - Booth School of Business, Aarhus University - Department of Finance, University of Chicago - Booth School of Business, Harvard University - Business School (HBS) and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 931 (54,219)

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Market manipulation, Pump-and-dump schemes, Securities regulation, Fraud, Investor protection, Lottery stocks, Household finance, Penny Stocks

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

Center for Financial Studies Working Paper No. 609
Number of pages: 84 Posted: 16 Dec 2018 Last Revised: 13 Oct 2023
University of Chicago - Booth School of Business, Aarhus University - Department of Finance, University of Chicago - Booth School of Business, Harvard University - Business School (HBS) and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 528 (113,743)
Citation 2

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Market manipulation; Pump-and-dump schemes, Securities regulation; Fraud; Investor protection; Lottery stocks; Household finance; Penny Stocks

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

Center for Financial Studies Working Paper No. 704, 2023
Number of pages: 84 Posted: 25 Feb 2023 Last Revised: 13 Oct 2023
University of Chicago - Booth School of Business, Aarhus University - Department of Finance, University of Chicago - Booth School of Business, Harvard University - Business School (HBS) and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 129 (479,370)
Citation 2

Abstract:

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Market manipulation; Pump-and-dump schemes, Securities regulation; Fraud; Investor protection; Lottery stocks; Household finance; Penny Stocks

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

NBER Working Paper No. w24083
Number of pages: 85 Posted: 06 Dec 2017 Last Revised: 22 Apr 2023
University of Chicago - Booth School of Business, Aarhus University - Department of Finance, University of Chicago - Booth School of Business, Harvard University - Business School (HBS) and Goethe University Frankfurt - Faculty of Economics and Business Administration
Downloads 112 (535,904)

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4.

Learning Fundamentals from Text

Chicago Booth Accounting Research Center Research Paper, Fama-Miller Working Paper, University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2024-155
Number of pages: 53 Posted: 09 Dec 2024 Last Revised: 24 Feb 2025
University of Chicago Booth School of Business, University of Chicago - Booth School of Business, University of Chicago Booth School of Business and University of Chicago - Booth School of Business
Downloads 1,427 (29,807)

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Attention mechanism, information relevance, fundamentals, information processing, corporate disclosure, investor attention, large language models, LLM

5.

Financial Transparency of Private Firms: Evidence from a Randomized Field Experiment

TRR 266 Accounting for Transparency Working Paper Series No. 115, Journal of Accounting Research, volume 63, issue 1, 2025[10.1111/1475-679X.12568]
Number of pages: 124 Posted: 03 Dec 2018 Last Revised: 24 Feb 2025
Joachim Gassen and Maximilian Muhn
Humboldt University of Berlin - School of Business and Economics and University of Chicago - Booth School of Business
Downloads 1,079 (44,800)
Citation 9

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disclosure, financial transparency, field experiment, private firms, informational costs, transacting stakeholders, competition, privacy, capital providers, customers, suppliers, information processing, informational constraints

6.

How Do Consumers Use ESG Disclosure? Evidence from a Randomized Field Experiment with Everyday Product Purchases

Chicago Booth Research Paper No. 24-02, University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2024-04
Number of pages: 87 Posted: 09 Jan 2024 Last Revised: 16 Jan 2025
New York University (NYU) - Leonard N. Stern School of Business, University of Chicago - Booth School of Business, University of Chicago - Booth School of Business and New York University (NYU) - Leonard N. Stern School of Business
Downloads 1,070 (45,268)
Citation 6

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Consumers, Disclosure, Field Experiment, ESG Reporting, Non-Financial Information, Financial Reporting, Financial Information, Sustainability, Corporate Social Responsibility

Do Risk Disclosures Matter When it Counts? Evidence from the Swiss Franc Shock

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 25 Mar 2017 Last Revised: 12 Oct 2020
Luzi Hail, Maximilian Muhn and David Oesch
University of Pennsylvania - The Wharton School, University of Chicago - Booth School of Business and University of Zurich
Downloads 875 (58,990)
Citation 28

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Risk disclosures, adverse selection, liquidity, information asymmetry, currency risk, archival studies, surveys

Do Risk Disclosures Matter When It Counts? Evidence from the Swiss Franc Shock

Journal of Accounting Research, Volume 59, Issue 1, March 2021
Posted: 01 Apr 2021
Luzi Hail, Maximilian Muhn and David Oesch
University of Pennsylvania - The Wharton School, University of Chicago - Booth School of Business and University of Zurich

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risk disclosures; adverse selection; liquidity; information asymmetry; information dynamics; currency risk; archival studies; surveys

Do Conflict of Interests Disclosures Work? Evidence from Citations in Medical Journals

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2023-15
Number of pages: 54 Posted: 09 Feb 2023
Christian Leuz, Anup Malani, Maximilian Muhn and Laszlo Jakab
University of Chicago - Booth School of Business, University of Chicago - Law School, University of Chicago - Booth School of Business and Analysis Group
Downloads 159 (402,708)

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Do Conflict of Interests Disclosures Work? Evidence from Citations in Medical Journals

Number of pages: 52 Posted: 21 Dec 2022
Christian Leuz, Anup Malani, Maximilian Muhn and Laszlo Jakab
University of Chicago - Booth School of Business, University of Chicago - Law School, University of Chicago - Booth School of Business and Analysis Group
Downloads 108 (550,870)

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Financial interests, Bias in medical research, Research and development, Disclosure regulation, Transparency

Do Conflict of Interests Disclosures Work? Evidence from Citations in Medical Journals

NBER Working Paper No. w30927
Number of pages: 53 Posted: 06 Feb 2023 Last Revised: 03 Jul 2023
Christian Leuz, Anup Malani, Maximilian Muhn and Laszlo Jakab
University of Chicago - Booth School of Business, University of Chicago - Law School, University of Chicago - Booth School of Business and Analysis Group
Downloads 11 (1,313,424)

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9.

Decoding Social Disclosure Decisions: A Field Experiment with Workforce Diversity Data

Stanford University Graduate School of Business Research Paper No. 5002242
Number of pages: 81 Posted: 21 Nov 2024
Jung Ho Choi, Maureen F. McNichols and Maximilian Muhn
Stanford Graduate School of Business, Stanford University and University of Chicago - Booth School of Business
Downloads 229 (288,418)

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Workforce Diversity, EEO-1, Social Disclosure, Investors, Employees, Investor Relations, Human Resources, Field Experiment, FOIA, Financial Materiality, Double Materiality

10.

Peer Financial Benchmarking and Firm Learning: Evidence from a Field Experiment

Chicago Booth Accounting Research Center Research Paper Series
Number of pages: 55 Posted: 03 Apr 2025
Copenhagen Business School, Department of Accounting, University of Chicago - Booth School of Business, University of Chicago - Booth School of Business, Copenhagen Business School - Department of Accounting and Copenhagen Business School, Department of Accounting
Downloads 106 (554,606)

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Disclosure, Peer Information, Performance, Field Experiment, Information Processing, Zero Earnings Discontinuity, Firm Learning, Private Firms