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

35

DOWNLOADS
Rank 1,169

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Top 1,169

in Total Papers Downloads

24,760

SSRN CITATIONS
Rank 6,322

SSRN RANKINGS

Top 6,322

in Total Papers Citations

111

CROSSREF CITATIONS

75

Scholarly Papers (35)

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
Macquarie University, University of Technology Sydney (UTS), UTS Business School and University of Technology Sydney (UTS)
Downloads 10,238 (487)
Citation 85

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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 2,267 (6,534)
Citation 22

Abstract:

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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 Macquarie University
Downloads 1,123 (20,052)
Citation 4

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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 997 (23,933)
Citation 9

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
Macquarie University and University of Technology Sydney (UTS)
Downloads 933 (26,295)
Citation 15

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 846 (30,267)
Citation 3

Abstract:

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market manipulation, regulation, survey

7.

The Active World of Passive Investing

Western Finance Association (WFA) Annual Meeting (2018)
Number of pages: 50 Posted: 27 Jul 2018 Last Revised: 28 Jan 2020
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 744 (36,119)
Citation 2

Abstract:

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exchange-traded fund, ETF, Activeness Index, passive investing, index investing

8.

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 685 (40,424)
Citation 5

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

9.

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: 27 Jan 2020
Tālis J. Putniņš and Joseph Barbara
University of Technology Sydney (UTS) and Australian Securities and Investments Commission (ASIC)
Downloads 656 (42,819)

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

10.

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 644 (43,864)
Citation 3

Abstract:

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

11.

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 537 (55,459)
Citation 7

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

12.

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 506 (59,736)
Citation 1

Abstract:

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

13.

Shorting at Close Range: A Tale of Two Types

Journal of Financial Economics (JFE), Forthcoming
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 505 (59,897)
Citation 8

Abstract:

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

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 400 (79,495)
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 378 (84,898)
Citation 5

Abstract:

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

16.

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 348 (93,346)
Citation 1

Abstract:

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

17.

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 325 (100,733)
Citation 7

Abstract:

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Price Discovery, Gold, Gold Futures, Market Microstructure

18.

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

UNSW Business School Research Paper No. 04, 2019
Number of pages: 51 Posted: 24 Jan 2015 Last Revised: 18 Jun 2020
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 306 (107,613)

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

19.

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 286 (115,718)
Citation 3

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Anonymity, execution cost, broker identity, strategic trading

20.

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 278 (119,274)
Citation 4

Abstract:

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manipulation, closing price, high-closing, experimental market

21.

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 238 (139,770)

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

22.

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 193 (170,422)
Citation 3

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

23.

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 190 (172,818)

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liquidity, informational efficiency, market makers, stock analysts

24.

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 176 (185,063)
Citation 1

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

25.

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, Macquarie University, 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, City University of Hong Kong (CityUHK) - Centre for Chinese & Comparative 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 (CityUHK) - Centre for Chinese & Comparative Law, University of Melbourne - Law School, London School of Economics & Political Science (LSE), Students and White & Case LLP
Downloads 163 (197,689)

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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

26.

Welfare Costs of Informed Trade

AFA 2016 San Francisco Meetings
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 159 (201,887)
Citation 5

Abstract:

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

27.

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 127 (241,853)

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

28.

The Value of ETF Liquidity

European Finance Association 2020 Helsinki
Number of pages: 41 Posted: 06 Apr 2020 Last Revised: 18 Jun 2020
Marta Khomyn, Tālis J. Putniņš and Marius Zoican
University of Technology Sydney (UTS), University of Technology Sydney (UTS) and University of Toronto at Mississauga - Department of Management
Downloads 120 (253,953)

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ETFs, liquidity, competition, trading volume

29.

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 101 (284,970)
Citation 2

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Flow toxicity, market instability, order imbalance, multidimensional uncertainty

30.

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 85 (318,059)
Citation 2

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Shadow Economy, Latvia, Lithuania, Estonia

31.

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 82 (325,036)

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

32.

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 74 (345,074)
Citation 2

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Shadow Economy, Moldova, Romania, Poland, Baltic States

33.

From Free Markets to Fed Markets: How Unconventional Monetary Policy Distorts Equity Markets

Number of pages: 24 Posted: 08 Jun 2020 Last Revised: 07 Jul 2020
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 47 (430,108)

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stock markets, monetary policy, quantitative easing, liquidity, COVID-19

34.

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 (689,779)
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35.

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 (702,158)
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Market manipulation, Regulation, Survey