Tālis J. Putniņš

University of Technology Sydney (UTS)

PO Box 123

Broadway

Sydney

Australia

Stockholm School of Economics, Riga

Strelnieku iela 4a

Riga, LV 1010

Latvia

SCHOLARLY PAPERS

33

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22,781

SSRN CITATIONS
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Top 7,051

in Total Papers Citations

78

CROSSREF CITATIONS

70

Scholarly Papers (33)

1.

Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed Through Cryptocurrencies?

Review of Financial Studies, Forthcoming
Number of pages: 63 Posted: 17 Jan 2018 Last Revised: 15 Dec 2018
Sean Foley, Jonathan R. Karlsen and Tālis J. Putniņš
University of Sydney Business School, University of Technology Sydney (UTS), UTS Business School and University of Technology Sydney (UTS)
Downloads 9,396 (520)
Citation 64

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blockchain, bitcoin, detection controlled estimation, illegal trade, black market

2.

Dark Trading and Price Discovery

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 54 Posted: 02 Dec 2012 Last Revised: 26 Jun 2015
Carole Comerton-Forde and Tālis J. Putniņš
UNSW Business School and University of Technology Sydney (UTS)
Downloads 2,225 (6,277)
Citation 19

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dark pool, price discovery, information share, efficiency

3.

Price Discovery in Stock and Options Markets

Journal of Financial Markets, Forthcoming
Number of pages: 55 Posted: 15 Aug 2014 Last Revised: 04 Jan 2020
Vinay Patel, Tālis J. Putniņš, David Michayluk and Sean Foley
University of Technology Sydney (UTS), University of Technology Sydney (UTS), University of Technology Sydney (UTS) - School of Finance and Economics and University of Sydney Business School
Downloads 1,066 (20,340)
Citation 3

Abstract:

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price discovery, stock, option, information share, insider trading

4.

Measuring Closing Price Manipulation

Journal of Financial Intermediation, Forthcoming
Number of pages: 48 Posted: 23 Aug 2007 Last Revised: 28 Apr 2010
Carole Comerton-Forde and Tālis J. Putniņš
UNSW Business School and University of Technology Sydney (UTS)
Downloads 975 (23,216)
Citation 7

Abstract:

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manipulation, closing price, high-closing, index

5.

Should We Be Afraid of the Dark? Dark Trading and Market Quality

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 55 Posted: 16 Jun 2013 Last Revised: 08 Feb 2016
Sean Foley and Tālis J. Putniņš
University of Sydney Business School and University of Technology Sydney (UTS)
Downloads 920 (25,278)
Citation 13

Abstract:

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dark pool, dark trading, regulation, liquidity, market efficiency, transparency

6.

Market Manipulation: A Survey

Journal of Economic Surveys, Forthcoming
Number of pages: 30 Posted: 12 Apr 2011
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 823 (29,605)
Citation 1

Abstract:

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market manipulation, regulation, survey

7.

Stock Price Manipulation: Prevalence and Determinants

Forthcoming, Review of Finance
Number of pages: 54 Posted: 21 Aug 2008 Last Revised: 11 Oct 2012
Carole Comerton-Forde and Tālis J. Putniņš
UNSW Business School and University of Technology Sydney (UTS)
Downloads 665 (39,549)
Citation 5

Abstract:

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manipulation, prosecution, closing price, high-closing, detection controlled estimation

8.

Heterogeneity in How Algorithmic Traders Impact Institutional Trading Costs

CIFR Paper No. 113/2016/Project F005
Number of pages: 44 Posted: 26 Jul 2016 Last Revised: 25 Jul 2017
Tālis J. Putniņš and Joseph Barbara
University of Technology Sydney (UTS) and Australian Securities and Investments Commission (ASIC)
Downloads 641 (41,579)

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Algorithmic Trading, High-Frequency Trading, Liquidity, Transaction Costs, Implementation Shortfall, Predatory Trading

9.

The Active World of Passive Investing

Western Finance Association (WFA) Annual Meeting (2018)
Number of pages: 35 Posted: 27 Jul 2018 Last Revised: 15 Jun 2019
David Easley, David Michayluk, Maureen O'Hara and Tālis J. Putniņš
Cornell University - Department of Economics, University of Technology Sydney (UTS) - School of Finance and Economics, Cornell University - Samuel Curtis Johnson Graduate School of Management and University of Technology Sydney (UTS)
Downloads 573 (48,356)
Citation 2

Abstract:

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exchange traded fund, ETF, active share, passive investing, index investing

10.

Naked Short Sales and Fails to Deliver: An Overview of Clearing and Settlement Procedures for Stock Trades in the US

Journal of Securities Operations and Custody, Forthcoming
Number of pages: 17 Posted: 07 Mar 2010
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 535 (52,569)
Citation 7

Abstract:

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Clearing, Settlement, Fail to Deliver, Naked Short Selling, National Securities Clearing Corporation (NSCC), Depository Trust Company (DTC)

11.

What Moves Stock Prices? The Role of News, Noise, and Information

AFA Annual Meeting 2020, Forthcoming
Number of pages: 69 Posted: 29 Jan 2018 Last Revised: 13 Sep 2019
Jonathan Brogaard, Thanh Huong Nguyen, Tālis J. Putniņš and Eliza Wu
University of Utah - David Eccles School of Business, University of Technology Sydney (UTS) - UTS Business School, University of Technology Sydney (UTS) and The University of Sydney - Business School
Downloads 512 (55,589)
Citation 2

Abstract:

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variance decomposition, firm-specific information, market-wide information, stock return synchronicity

12.

Shorting at Close Range: A Tale of Two Types

Journal of Financial Economics (JFE), Forthcoming, AFA 2012 Chicago Meetings Paper, Columbia Business School Research Paper No. 12/22
Number of pages: 50 Posted: 21 Mar 2011 Last Revised: 26 Jun 2015
Carole Comerton-Forde, Charles M. Jones and Tālis J. Putniņš
UNSW Business School, Columbia Business School and University of Technology Sydney (UTS)
Downloads 495 (58,070)
Citation 8

Abstract:

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short selling, information content, market quality, high-frequency trading

13.

Asset Pricing with Downside Liquidity Risks

Management Science, Forthcoming
Number of pages: 46 Posted: 22 Dec 2012 Last Revised: 24 Dec 2015
Sean A. Anthonisz and Tālis J. Putniņš
The University of Sydney and University of Technology Sydney (UTS)
Downloads 480 (60,314)
Citation 1

Abstract:

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liquidity risk, liquidity spiral, conditional moment, pricing kernel, downside risk

14.

What Do Price Discovery Metrics Really Measure?

Journal of Empirical Finance, Forthcoming
Number of pages: 39 Posted: 06 May 2013 Last Revised: 16 May 2013
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 387 (78,082)
Citation 2

Abstract:

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price discovery, information share, component share, information leadership share

15.

High Frequency Trading and Co-Movement in Financial Markets

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 50 Posted: 23 Aug 2016 Last Revised: 11 Feb 2019
Laura Malceniece, Kārlis Malcenieks and Tālis J. Putniņš
Stockholm School of Economics, Riga, Stockholm School of Economics, Riga and University of Technology Sydney (UTS)
Downloads 340 (90,665)
Citation 3

Abstract:

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high frequency trading, HFT, co-movement, commonality, synchronicity, liquidity

16.

Who Sets the Price of Gold? London or New York?

Journal of Futures Markets (Forthcoming)
Number of pages: 38 Posted: 16 May 2015 Last Revised: 03 Feb 2016
Martin Hauptfleisch, Tālis J. Putniņš and Brian M. Lucey
University of Technology Sydney (UTS), University of Technology Sydney (UTS) and Trinity Business School, Trinity College Dublin
Downloads 314 (99,025)
Citation 5

Abstract:

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Price Discovery, Gold, Gold Futures, Market Microstructure

17.

Economics of State-Owned Enterprises

Forthcoming, International Journal of Public Administration
Number of pages: 40 Posted: 25 Oct 2014
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 306 (101,794)
Citation 1

Abstract:

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state-owned enterprise, government, market failure, efficiency, social welfare

18.

Why Do Traders Choose to Trade Anonymously?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 45 Posted: 28 Feb 2011
Carole Comerton-Forde, Tālis J. Putniņš and Kar Mei Tang
UNSW Business School, University of Technology Sydney (UTS) and University of Sydney - Discipline of Finance
Downloads 283 (110,769)
Citation 1

Abstract:

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Anonymity, execution cost, broker identity, strategic trading

19.

Pricing Accuracy, Liquidity and Trader Behavior with Closing Price Manipulation

Experimental Economics, Forthcoming
Number of pages: 32 Posted: 10 Nov 2008 Last Revised: 12 Oct 2010
Carole Comerton-Forde and Tālis J. Putniņš
UNSW Business School and University of Technology Sydney (UTS)
Downloads 277 (113,368)
Citation 4

Abstract:

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manipulation, closing price, high-closing, experimental market

20.

The Effects of Market Makers and Stock Analysts in Emerging Markets

International Review of Finance, Forthcoming
Number of pages: 29 Posted: 24 Aug 2011
Stockholm School of Economics, Riga, Stockholm School of Economics, Riga, Stockholm School of Economics, Riga and University of Technology Sydney (UTS)
Downloads 188 (165,670)

Abstract:

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liquidity, informational efficiency, market makers, stock analysts

21.

When do informed traders provide liquidity?

Number of pages: 41 Posted: 20 Aug 2013 Last Revised: 24 Jan 2019
Tālis J. Putniņš and David Michayluk
University of Technology Sydney (UTS) and University of Technology Sydney (UTS) - School of Finance and Economics
Downloads 165 (185,936)
Citation 1

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liquidity, price discovery, informed trading, limit order, market order

22.

Welfare Costs of Informed Trade

AFA 2016 San Francisco Meetings, Columbia Business School Research Paper No. 16-58
Number of pages: 46 Posted: 23 Aug 2016 Last Revised: 02 Jan 2020
Lawrence R. Glosten and Tālis J. Putniņš
Columbia Business School - Finance and Economics and University of Technology Sydney (UTS)
Downloads 145 (207,219)
Citation 5

Abstract:

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market microstructure, welfare, liquidity, informed trading, insider trading

23.

Quasi-Dark Trading: The Effects of Banning Dark Pools in a World of Many Alternatives

SAFE Working Paper No. 253
Number of pages: 62 Posted: 28 May 2019 Last Revised: 25 Jun 2019
University of Mannheim - Finance Area, University of Technology Sydney (UTS), Goethe University Frankfurt - Department of Finance and University of Vienna - Department of Finance
Downloads 143 (209,577)

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Dark Pools, Dark Trading, Liquidity, Price Efficiency, MiFID II, Double Volume Caps

24.

An Overview of Market Manipulation

Forthcoming in: Handbook of Corruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation
Number of pages: 46 Posted: 14 Jun 2019
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 133 (223,508)

Abstract:

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market manipulation, spoofing, layering, pump and dump, painting the tape, bear raid

25.

Measuring the Shadow Economy Using Company Managers

Journal of Comparative Economics, Forthcoming
Number of pages: 41 Posted: 11 Apr 2014
Tālis J. Putniņš and Arnis Sauka
University of Technology Sydney (UTS) and Stockholm School of Economics, Riga
Downloads 122 (237,280)

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shadow economy; tax evasion; company managers; new EU members; GDP

26.

2018 Oxford Business Law Blog Round-Up: Top 20 Most Read Posts

Oxford Legal Studies Research Paper Forthcoming
Number of pages: 56 Posted: 28 Aug 2019
Center for Contract and Economic Organization, White & Case LLP, Max Planck Institute for Innovation and Competition, University of Sydney Business School, Technische Universität München (TUM) - TUM School of Management, Melbourne Law School, Duke University School of Law, Singapore Management University - School of Law, Humboldt University of Berlin, National University of Singapore (NUS) - Faculty of Law, National University of Singapore (NUS) - Faculty of Law, Hogan Lovells, Hogan Lovells, Tel Aviv University - Cegla Center for Interdisciplinary Research of the Law, Cleary Gottlieb Steen & Hamilton LLP, Public Sector Credit Solutions, University of Technology Sydney (UTS), UTS Business School, BI Norwegian Business School, White & Case LLP, Latham & Watkins, White & Case LLP, TUM School of Management, Tilburg University - Tilburg Institute for Law, Technology, and Society, Latham & Watkins, London School of Economics - Law Department, Independent, University of California, Berkeley - School of Law, Cleary Gottlieb Steen & Hamilton LLP, Cleary Gottlieb Steen & Hamilton LLP, University of Technology Sydney (UTS), Melbourne Law School - University of Melbourne, Morrison & Foerster LLP, Ruprecht-Karls Universität Heidelberg, City University of Hong Kong School of Law, University of Melbourne - Law School, London School of Economics & Political Science (LSE), Students and White & Case LLP
Downloads 117 (244,775)

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Bitcoin, Blockchain, GDPR, ICOs, Cryptocurrencies, MiFID II, EU law, Limited partnership, Private equity, Side-pockets, Liquidity, Brexit, Credit rating, Corporate Governance Code, Parent company, Bankruptcy, Securities, Financial regulation, Corporate veil, Autonomation, Courts, Smart contract

27.

Learning about Toxicity: Why Order Imbalance Can Destabilize Markets

Number of pages: 54 Posted: 13 Dec 2018
Nihad Aliyev, Xuezhong He and Tālis J. Putniņš
University of Technology Sydney (UTS) - School of Finance and Economics, University of Technology Sydney (UTS) - Finance Discipline Group, Business School and University of Technology Sydney (UTS)
Downloads 79 (316,723)
Citation 2

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Flow toxicity, market instability, order imbalance, multidimensional uncertainty

28.

Shadow Economy Index for the Baltic Countries 2009-2016

Number of pages: 51 Posted: 15 May 2018
Tālis J. Putniņš and Arnis Sauka
University of Technology Sydney (UTS) and Stockholm School of Economics, Riga
Downloads 72 (333,963)
Citation 2

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Shadow Economy, Latvia, Lithuania, Estonia

29.

Shadow Economy Index for Moldova and Romania 2015-2016

Number of pages: 54 Posted: 15 May 2018
Tālis J. Putniņš, Arnis Sauka and Adriana AnaMaria Davidescu
University of Technology Sydney (UTS), Stockholm School of Economics, Riga and Bucharest University of Economic Studies
Downloads 67 (347,443)
Citation 2

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Shadow Economy, Moldova, Romania, Poland, Baltic States

30.

Why Does Entrepreneurial Orientation Affect Company Performance?

Strategic Entrepreneurship Journal, Forthcoming
Number of pages: 47 Posted: 12 Jun 2019
Tālis J. Putniņš and Arnis Sauka
University of Technology Sydney (UTS) and Stockholm School of Economics, Riga
Downloads 57 (376,852)

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entrepreneurial orientation, performance, conceptualization, risk taking, innovativeness, proactiveness

31.

The Effects of Market Makers and Stock Analysts in Emerging Markets

International Review of Finance, Vol. 12, Issue 3, pp. 305-327, 2012
Number of pages: 23 Posted: 04 Sep 2012
Stockholm School of Economics, Stockholm School of Economics, Riga, Stockholm School of Economics, Riga and University of Technology Sydney (UTS)
Downloads 2 (658,175)
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32.

The 'Waterfall Illusion' in the Financial Markets: How Risk Perception Is Distorted After Prior Exposure to Extreme Risk

UNSW Business School Research Paper No. 04, 2019
Number of pages: 50 Posted: 24 Jan 2015
Elise Payzan-LeNestour, Lionnel Pradier and Tālis J. Putniņš
University of New South Wales, UNSW Australia Business School and University of Technology Sydney (UTS)
Downloads 277

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neuro-economics, risk perception, efficient coding, normalization, decision making under uncertainty

33.

Market Manipulation: A Survey

Journal of Economic Surveys, Vol. 26, Issue 5, pp. 952-967, 2012
Number of pages: 16 Posted: 04 Oct 2012
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 1 (670,144)
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Market manipulation, Regulation, Survey