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

  • University of Technology Sydney (UTS)

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  • Stockholm School of Economics, Riga

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SCHOLARLY PAPERS

28

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25

Scholarly Papers (28)

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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 6,406 (902)

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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 2,138 (5,967)
Citation 5

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dark pool, price discovery, information share, efficiency

3.

Price Discovery in Stock and Options Markets

Society for Financial Studies (SFS) Cavalcade, 2016
Number of pages: 54 Posted: 15 Aug 2014 Last Revised: 16 Jul 2018
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 959 (21,492)

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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 932 (22,407)
Citation 8

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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 869 (24,779)
Citation 1

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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 747 (30,673)
Citation 1

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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 619 (39,469)

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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 573 (43,715)

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

9.

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 520 (49,496)
Citation 3

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

10.

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 474 (55,599)
Citation 4

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

11.

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 447 (59,804)

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

12.

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 364 (76,374)

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

13.

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

Number of pages: 54 Posted: 29 Jan 2018 Last Revised: 08 Jun 2018
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 322 (87,862)

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

14.

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 299 (95,389)

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Price Discovery, Gold, Gold Futures, Market Microstructure

15.

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 267 (107,607)
Citation 1

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manipulation, closing price, high-closing, experimental market

16.

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 266 (108,024)
Citation 2

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Anonymity, execution cost, broker identity, strategic trading

17.

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

UNSW Business School Research Paper No. 04
Number of pages: 50 Posted: 24 Jan 2015 Last Revised: 22 Nov 2018
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 232 (124,298)

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

18.

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 213 (134,994)

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

19.

High Frequency Trading and Co-Movement in Financial Markets

Downloads 207 (138,730)

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: 03 Apr 2018
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 121 (219,919)

Abstract:

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

High Frequency Trading and Co-Movement in Financial Markets

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 50 Posted: 26 Apr 2018
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 86 (278,663)

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

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
Karolis Cekauskas, Reinis Gerasimovs, Vytautas Liatukas and Tālis J. Putniņš
Stockholm School of Economics, Riga, Stockholm School of Economics, Riga, Stockholm School of Economics, Riga and University of Technology Sydney (UTS)
Downloads 183 (155,524)

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liquidity, informational efficiency, market makers, stock analysts

21.

The Active World of Passive Investing

31st Australasian Finance and Banking Conference 2018
Number of pages: 35 Posted: 27 Jul 2018 Last Revised: 04 Sep 2018
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 160 (174,916)

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

22.

Liquidity Provision in Limit Order Book Markets

Number of pages: 40 Posted: 20 Aug 2013 Last Revised: 16 Jan 2016
Tālis J. Putniņš and David Michayluk
University of Technology Sydney (UTS) and University of Technology Sydney (UTS) - School of Finance and Economics
Downloads 151 (183,579)

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

23.

Welfare Costs of Informed Trade

AFA 2016 San Francisco Meetings, Columbia Business School Research Paper No. 16-58
Number of pages: 44 Posted: 23 Aug 2016
Lawrence R. Glosten and Tālis J. Putniņš
Columbia Business School - Finance and Economics and University of Technology Sydney (UTS)
Downloads 119 (221,661)

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

24.

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 107 (239,307)

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

25.

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 39 (405,429)

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Shadow Economy, Latvia, Lithuania, Estonia

26.

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 31 (437,878)

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Shadow Economy, Moldova, Romania, Poland, Baltic States

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) - School of Finance and Economics and University of Technology Sydney (UTS)
Downloads 12 (544,008)

Abstract:

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Flow toxicity, market instability, order imbalance, multidimensional uncertainty

28.

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 (610,189)
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Market manipulation, Regulation, Survey