Tālis J. Putniņš

University of Technology Sydney (UTS)

PO Box 123

Broadway

Sydney

Australia

Digital Finance CRC

Stockholm School of Economics, Riga

Strelnieku iela 4a

Riga, LV 1010

Latvia

SCHOLARLY PAPERS

58

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490

CROSSREF CITATIONS

81

Scholarly Papers (58)

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, The University of Western Australia and University of Technology Sydney (UTS)
Downloads 15,541 (439)
Citation 195

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

2.
Downloads 13,368 ( 540)
Citation 2

Non-Standard Errors

Journal of Finance Forthcoming
Number of pages: 111 Posted: 23 Nov 2021 Last Revised: 06 Jul 2023
Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Michael Razen, Utz Weitzel, David Abad, Menachem (Meni) Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James Angel, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Andrea Barbon, Oksana Bashchenko, Parampreet Christopher Bindra, Geir Hoidal Bjonnes, Jeff Black, Bernard S. Black, Santiago Bohorquez, Oleg Bondarenko, Charles S. Bos, Ciril Bosch-Rosa, Elie Bouri, Christian T. Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura Capera, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Mikhail Chernov, William M. Cheung, Ludwig B. Chincarini, Tarun Chordia, Sheung Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Thong Dao, Wale Dare, Ryan J. Davies, Riccardo De Blasis, Gianluca De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Deku, Christophe Desagre, Mathijs A. van Dijk, Chukwuma Dim, Thomas Dimpfl, Yunjiang Dong, Philip Drummond, Tom L. Dudda, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michał Dzieliński, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin D.D. Evans, Michael Farrell, Ester Félez-Viñas, Gerardo Ferrara, El Mehdi FERROUHI, Andrea Flori, Jonathan Fluharty-Jaidee, Sean Foley, Kingsley Y. L. Fong, Thierry Foucault, Tatiana Franus, Francesco A. Franzoni, Bart Frijns, Michael Frömmel, Servanna Mianjun Fu, Sascha Füllbrunn, Baoqing Gan, Thomas Gehrig, Dirk Gerritsen, Javier Gil-Bazo, Lawrence R. Glosten, Thomas Gomez, Arseny Gorbenko, Ufuk Güçbilmez, Joachim Grammig, Vincent Gregoire, Björn Hagströmer, Julien Hambuckers, Erik Hapnes, Jeffrey H. Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xuezhong He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth A. Hoelscher, Peter Hoffmann, Craig W. Holden, Alex R. Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Alexey Ivashchenko, Subramanian R. Iyer, Hossein Jahanshahloo, Naji Jalkh, Charles M. Jones, Simon Jurkatis, Petri Jylha, Andreas Kaeck, Gabriel Kaiser, Arzé Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent van Kervel, Saad Khan, Marta Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Jan Pieter Krahnen, Aleksey Kolokolov, Robert A. Korajczyk, Roman Kozhan, Amy Kwan, Quentin Lajaunie, FY Eric Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, (Michael) Hui Li, Chee Yoong Liew, Thomas Lindner, Oliver B. Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis A. Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L. Norden, Peter O'Neill, Khaled Obaid, Bernt Arne Ødegaard, Per Östberg, Marcus Painter, Stefan Palan, Imon Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J. Patton, Neil D. Pearson, Loriana Pelizzon, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Tālis J. Putniņš, Gaurav Raizada, David A. Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex Wang Renjie, Roberto Renò, Steven Riddiough, Kalle Rinne, Paul Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez-Longarela, Dominik Rösch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen Rush, Khaladdin Rzayev, Aleksandra Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, O. Scaillet, Stefan Scharnowski, Klaus Reiner Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schuerhoff, Philipp Schuster, Marco A. Schwarz, Mark S. Seasholes, Norman Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A. Smales, Paul Söderlind, Elvira Sojli, Konstantin Sokolov, Laima Spokeviciute, Denitsa Stefanova, Marti G. Subrahmanyam, Sebastian Neusüss, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nicholas Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B. Trolle, Giorgio Valente, Robert A. Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson, Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel van der Wel, Ingrid M. Werner, P. Joakim Westerholm, Christian Westheide, Evert Wipplinger, Michael Wolf, Christian C. P. Wolff, Leonard Wolk, Wing-Keung Wong, Jan Wrampelmeyer, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K. Yadav, José Yagüe, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Shihao Yu, Bart Zhou Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan Zeisberger, S. Sarah Zhang, Xiaoyu Zhang, Zhuo Zhong, Z. Ivy Zhou, Chen Zhou, Xingyu Sonya Zhu, Marius Zoican, Remco C. J. Zwinkels, Jian Chen, Teodor Duevski, Ge Gao, Roland Gemayel, Dudley Gilder, Paul Kuhle, Emiliano Pagnotta, Michele Pelli, Jantje Sönksen, Lu Zhang, Konrad Ilczuk, Dimitar Bogoev, Ya Qian, Hans C. Wika, Yihe Yu, Lu Zhao, Michael Mi, Li Bao, Andreea Vaduva, Marcel Prokopczuk, Alejandro Avetikian and Zhen-Xing Wu
Vrije Universiteit Amsterdam, Stockholm School of Economics - Department of Economics, University of Innsbruck - Department of Economics, University of Innsbruck, Stockholm School of Economics - Department of Economics, University of Innsbruck, University of Innsbruck, VU University Amsterdam, Universidad de Alicante, Bar-Ilan University - Graduate School of Business Administration, International Monetary Fund, Princeton University - Department of Economics, CNRS, University of Oxford, University of Technology Sydney, EMLV Business School Paris, University of Chicago - Booth School of Business, Wilfrid Laurier University, Georgetown University - McDonough School of Business, University of Mannheim, Tennessee Technological University, EM Lyon (Ecole de Management de Lyon) - Emlyon Business School, University of St. Gallen, Swiss Finance Institute - HEC Lausanne, University of Innsbruck, BI Norwegian Business School, University of Memphis, Northwestern University - Pritzker School of Law, Universidad EAFIT, University of Illinois at Chicago - Department of Finance, VU University Amsterdam, Technische Universität Berlin, Lebanese American University, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences, Toulouse Business School - TBS Education, Monash University, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, University of Padua - Department of Statistical Sciences, University of Memphis - Fogelman College of Business and Economics, University of Amsterdam Business School, Saint Louis University - Richard A. Chaifetz School of Business, UCLA Anderson, Waseda University, University of San Francisco, Emory University - Department of Finance, Australian National University (ANU), Goethe University Frankfurt Faculty of Economics and Business Administration, HEC Paris - Finance Department, University of Melbourne - Department of Finance, Macquarie University - Faculty of Business and Economics, Nottingham Trent University, University of Liège - HEC Liège, Babson College - Finance Division, Polytechnic University of Marche - Department of Management, University of Zurich - Department of Economics, Toulouse School of Economics, Masaryk University, KU Leuven - Faculty of Business and Economics (FEB), Nottingham Trent University - Nottingham Business School, Catholic University of Louvain (UCL) - Louvain Finance (LFIN), Erasmus University Rotterdam (EUR), George Washington University, University of Hohenheim, Queen's University (Canada), Queen's School of Business, Students, The Brattle Group, Technische Universität Dresden, ESADE Business School, EDHEC Business School, The University of Sydney - Discipline of Finance, Stockholm Business School, Stockholm University, Salisbury University - Perdue School of Business, Cardiff Business School, VU Amsterdam, University of Queensland - Business School, Georgetown University - Department of Economics, University of Wisconsin - Milwaukee - Department of Finance, University of Technology Sydney, Bank of England, Ibn Tofail University, Politecnico di Milano, Public Company Accounting Oversight Board, Macquarie University, University of New South Wales - School of Banking and Finance, HEC Paris - Finance Department, City University London - Bayes Business School, Universita della Svizzera italiana (USI Lugano), Open University of the Netherlands - School of Management, Ghent University - Department of Financial Economics, University of Essex - Essex Business School, Radboud University Nijmegen - Institute for Management Research, Ardea Investment Management, University of Vienna, Utrecht University - School of Economics, Universitat Pompeu Fabra, Columbia University, Utrecht University, Monash University - Department of Banking and Finance, University of Glasgow - Adam Smith Business School, University of Tübingen, HEC Montreal - Department of Finance, Stockholm University - Stockholm Business School, University of Liège - HEC Liège, Aalto University, American University - Department of Finance and Real Estate, University of Southern California - Marshall School of Business - Finance and Business Economics Department, Vienna University of Economics and Business, Aix-Marseille University - Aix-Marseille School of Economics, University of Vienna - Department of Statistics and Operations Research, Xi'an Jiaotong-Liverpool University (XJTLU), University of Utah - David Eccles School of Business, University of Zurich - Department of Economics, University of California, Berkeley - Haas School of Business, West Virginia University - John Chambers College of Business and Economics, Department of Finance, University of Gothenburg - Centre for Finance, Missouri State University - College of Business, European Central Bank (ECB), Indiana University - Kelley School of Business - Department of Finance, University of Miami - School of Business Administration - Department of Economics, Bank for International Settlements, Northeastern University - D'Amore-McKim School of Business, University of Orleans, VU University Amsterdam, University of New Mexico, Cardiff University, Saint Joseph University, Columbia University, Bank of England, Aalto University, University of Sussex, Universite du Luxembourg, Durham University, VU University Amsterdam, Ludwig-Maximilians-Universität München, Aalto University, University of Manchester, Queen's University Belfast - Queen's Management School, Pontificia Universidad Católica de Chile, HEC Montreal, University of Adelaide, Queen's University Belfast - Queen's Management School, University of Warwick - Warwick Business School, University of Kiel - Institute for Quantitative Business and Economics Research (QBER), Halle Institute for Economic Research, Goethe University Frankfurt, University of Manchester - Manchester Business School, Northwestern University - Kellogg School of Management, University of Warwick - Warwick Business School, University of New South Wales (UNSW), Square Research Center, Independent Researcher, University of Liège - HEC Liège, HEC Paris - Finance Department, Goethe University Frankfurt - Faculty of Economics and Business Administration, Leibniz University Hannover, University of Zurich, Universite du Luxembourg, S&P Global Ratings, La Trobe University, UCSI University, Malaysia, Vienna University of Economics and Business, University of Cambridge, Purdue University, The University of Sydney, Universidad Autonoma de Madrid, Aalto University, Arizona State University (ASU) - Finance Department, University of California, Los Angeles (UCLA) - Finance Area, University of Florida - Department of Finance, Insurance and Real Estate, North Carolina State University - Department of Business Management, Swiss Finance Institute - USI Lugano, EPFL, University of Toronto - Rotman School of Management and UTSC Management, Erasmus University Rotterdam (EUR), Toulouse Business School - TBS Education, Swiss Finance Institute - HEC Lausanne, RMIT University, Universite de Toulouse 1 Capitole, Loyola Marymount University, Queen's University Belfast, Michigan State University - Department of Finance, University of Illinois at Chicago, John von Neumann University - MNB Institute, Macquarie University, Copenhagen Business School, University of Florida - Department of Finance, Insurance and Real Estate, Radboud University, Stockholm University - Stockholm Business School, UNSW Australia Business School, School of Banking and Finance, California State University-East Bay, University of Stavanger, University of Zurich - Department of Banking and Finance, Saint Louis University - Department of Finance, University of Graz, Royal Melbourne Institute of Technolog (RMIT University) - Blockchain Innovation Hub, University of Toronto, Universidad de las Islas Baleares, University of Michigan, Stephen M. Ross School of Business, University of Chicago - Booth School of Business, University of Technology Sydney (UTS), Duke University - Department of Economics, University of Illinois at Urbana-Champaign - Department of Finance, Goethe University Frankfurt - Faculty of Economics and Business Administration, University of Duisburg-Essen - Mercator School of Management, HEC Paris - Finance Department, University of Oregon - Department of Finance, University of Sydney Business School, Masaryk University - Department of finance, Missouri State University, Copenhagen Business School, The University of Wollongong, University of Technology Sydney (UTS), Indian Institute of Management, Ahmedabad, University of Texas at Arlington, University of St. Gallen, University of Turin, University of Kiel, Université Paris I Panthéon-Sorbonne - Centre d'Economie de la Sorbonne (CES), Vrije Universiteit Amsterdam, ESSEC Business School, University of Toronto, Universite du Luxembourg - Department of Finance, Aalto University, Queen's University - Smith School of Business, University of Innsbruck, Stockholm University - Stockholm Business School, State University of New York at Buffalo - School of Management, University of Edinburgh Business School, Oklahoma State University - Department of Finance, HEC Paris - Finance Department, University of Quebec at Montreal (UQAM) - Faculty of Management (ESG), University of Lausanne, Bowling Green State University - Department of Finance, University of Edinburgh, York University - Schulich School of Business, HEC Montreal - Department of Finance, New Mexico State University, Federal Reserve Bank of New York, University of Cambridge - Judge Business School, Swiss Finance Institute - University of Geneva, University of Mannheim, The University of Manchester - Department of Economics, University of Graz, Deutsche Bundesbank, Macquarie University, Swiss Finance Institute - HEC Lausanne, University of Stuttgart, Heinrich Heine University Dusseldorf - Duesseldorf Institute for Competition Economics (DICE), Arizona State University (ASU), VU Amsterdam - School of Business and Economics, Federal Reserve Bank of New York, Wilfrid Laurier University - Lazaridis School of Business and Economics, Federal Housing Finance Agency, University of Zurich, Vienna University of Economics and Business, University of Western Australia, University of St. Gallen, UNSW Business School, University of Memphis - Fogelman College of Business and Economics, Cardiff University, Universite du Luxembourg, New York University (NYU) - Leonard N. Stern School of Business, Aalto University, Eötvös Loránd University, University of Birmingham, University of Florida - Department of Finance, University of Bristol Business School, University of New South Wales (UNSW), University of Mannheim - Finance Area, Karlsruhe Institute of Technology, University of Bristol - Department of Finance and Accounting, Loyola Marymount University - Department of Finance, University of Bologna, Copenhagen Business School, Hong Kong Institute for Monetary and Financial Research (HKIMR), University of Mississippi - Department of Finance, Instituto Tecnológico Autónomo de México (ITAM) - Department of Business Administration, Vlerick Business School, Erasmus University Rotterdam (EUR), Lund University - Department of Economics, Frankfurt School of Finance & Management, University of Amsterdam Business School, Erasmus University Rotterdam (EUR), University of Copenhagen, Erasmus University Rotterdam (EUR), Utrecht University - School of Economics, Reykjavik University, Erasmus University Rotterdam, The Ohio State University - Fisher College of Business, University of Sydney Business School, University of Vienna - Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, University of Zurich - Department of Economics, University of Luxembourg, VU University Amsterdam, Asia University, Department of Finance, Vrije Universiteit Amsterdam, School of Business and Economics, Halle Institute for Economic Research, University of Chicago - Booth School of Business, University of Victoria, Stockholm University - Stockholm Business School, University of Oklahoma Price College of Business, University of Murcia, University of Essex - Essex Business School, Erasmus University Rotterdam, Central Michigan University, Aalto University, Columbia University, Singapore Management University - Lee Kong Chian School of Business, Norwegian School of Economics (NHH) - Department of Finance, University of Gothenburg, Centre for Finance, Stockholm University, Radboud University, Institute for Management Research, University of Manchester - Alliance Manchester Business School, Vrije Universiteit Amsterdam (VU Amsterdam), University of Melbourne - Department of Finance, University of Wollongong - School of Accounting, Economics & Finance, Erasmus University Rotterdam (EUR), Bank for International Settlements (BIS) - Monetary and Economic Department, University of Toronto at Mississauga - Department of Management, Vrije Universiteit Amsterdam, Queen's University, HEC Paris, University of Birmingham, King’s College London, Cardiff University, Universidad Autonoma de Madrid, Singapore Management University, University of Zurich - Department of Banking and Finance, University of Tübingen, University of Luxembourg, affiliation not provided to SSRN, EDF Energy, United Kingdom, Aalto University, Norges Bank, University at Buffalo, SUNY, Southwestern University of Finance and Economics (SWUFE), The University of Sydney, University of Toulouse Capitole, UC3M, University of Reading - ICMA Centre, Pontificia Universidad Católica de Chile and Zhongnan University of Economics and Law - School of Finance
Downloads 13,368 (582)
Citation 3

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non-standard errors, multi-analyst approach, liquidity

3.

How Much Insider Trading Happens in Stock Markets?

American Finance Association (AFA) Annual Meeting
Number of pages: 59 Posted: 09 Feb 2021 Last Revised: 09 Sep 2023
Vinay Patel and Tālis J. Putniņš
University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 2,892 (7,861)
Citation 2

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insider trading, prosecution, detection controlled estimation, M&A, earnings

4.

Insider Trading in Cryptocurrency Markets

Number of pages: 38 Posted: 12 Aug 2022 Last Revised: 12 Aug 2023
Ester Félez-Viñas, Luke Johnson and Tālis J. Putniņš
University of Technology Sydney, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 2,776 (8,344)

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Cryptocurrency, decentralized exchange, insider trading, listing announcement, concealment strategies

5.

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
University of Melbourne - Department of Finance and University of Technology Sydney (UTS)
Downloads 2,639 (9,043)
Citation 59

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dark pool, price discovery, information share, efficiency

6.

Using ETFs to Conceal Insider Trading

Number of pages: 41 Posted: 01 Feb 2023 Last Revised: 18 Jul 2023
Elza Eglīte, Dans Štaermans, Vinay Patel and Tālis J. Putniņš
Stockholm School of Economics, Riga, Stockholm School of Economics, Riga, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 2,514 (9,792)

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insider trading, shadow trading, ETF, stock

7.

The Active World of Passive Investing

Review of Finance (forthcoming)
Number of pages: 57 Posted: 27 Jul 2018 Last Revised: 15 Jul 2021
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 2,496 (9,886)
Citation 5

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

8.

A New Wolf in Town? Pump-and-Dump Manipulation in Cryptocurrency Markets

Review of Finance, Forthcoming
Number of pages: 57 Posted: 24 Sep 2020 Last Revised: 28 Nov 2022
Anirudh Dhawan and Tālis J. Putniņš
Indian Institute of Management Bangalore and University of Technology Sydney (UTS)
Downloads 2,450 (10,159)

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market manipulation, pump-and-dump, cryptocurrencies, overconfidence, gambling

9.

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

Review of Financial Studies, Forthcoming
Number of pages: 65 Posted: 29 Jan 2018 Last Revised: 18 Nov 2021
Jonathan Brogaard, Huong Nguyen, Tālis J. Putniņš and Eliza Wu
University of Utah - David Eccles School of Business, Faculty of Finance, University of Economics, The University of Danang, Vietnam, University of Technology Sydney (UTS) and The University of Sydney - Business School
Downloads 2,220 (11,983)
Citation 5

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

10.

Free Markets to Fed Markets: How Modern Monetary Policy Impacts Equity Markets

Financial Analysts Journal, Forthcoming
Number of pages: 50 Posted: 08 Jun 2020 Last Revised: 12 Jan 2022
Tālis J. Putniņš
University of Technology Sydney (UTS)
Downloads 1,770 (17,107)

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

11.

Market Efficiency When Machines Access Information

NYU Stern School of Business Forthcoming
Number of pages: 73 Posted: 02 Mar 2021 Last Revised: 26 Aug 2023
University of Edinburgh, Wharton Research Data Services (WRDS), University of Technology Sydney (UTS) and New York University - Leonard N. Stern School of Business
Downloads 1,430 (23,783)

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Market efficiency; Information acquisition; Machine learning; Informed trading; Algorithmic trading

12.

Price Discovery in Stock and Options Markets

Journal of Financial Markets, Forthcoming
Number of pages: 55 Posted: 15 Aug 2014 Last Revised: 07 Sep 2021
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 1,348 (25,856)
Citation 7

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

13.

Only Gamble in Town: Stock Market Gambling Around the World and Market Efficiency

Number of pages: 56 Posted: 10 Nov 2020 Last Revised: 10 Nov 2021
Alok Kumar, Huong Nguyen and Tālis J. Putniņš
University of Miami - Miami Herbert Business School, Faculty of Finance, University of Economics, The University of Danang, Vietnam and University of Technology Sydney (UTS)
Downloads 1,267 (28,351)
Citation 2

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stock market gambling, casino, state lottery, liquidity, informational efficiency

14.

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 1,165 (32,067)
Citation 17

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market manipulation, regulation, survey

15.

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 1,126 (33,595)
Citation 52

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

16.

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
University of Melbourne - Department of Finance and University of Technology Sydney (UTS)
Downloads 1,123 (33,712)
Citation 14

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manipulation, closing price, high-closing, index

17.

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 1,030 (38,136)

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

18.

The Good, the Bad, and the Ugly: How algorithmic traders impact institutional trading costs

NBER Big Data and Securities Markets Conference
Number of pages: 48 Posted: 26 Jul 2016 Last Revised: 15 Dec 2020
Tālis J. Putniņš and Joseph Barbara
University of Technology Sydney (UTS) and Australian Securities and Investments Commission (ASIC)
Downloads 920 (44,682)

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

19.

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
University of Melbourne - Department of Finance and University of Technology Sydney (UTS)
Downloads 776 (56,352)
Citation 20

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

20.

The Value of ETF Liquidity

European Finance Association 2020 Helsinki
Number of pages: 74 Posted: 06 Apr 2020 Last Revised: 25 May 2023
Marta Khomyn, Tālis J. Putniņš and Marius Zoican
University of Adelaide, University of Technology Sydney (UTS) and University of Toronto at Mississauga - Department of Management
Downloads 734 (60,692)
Citation 2

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ETFs, liquidity, competition, trading volume

21.

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 690 (65,833)
Citation 7

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

22.

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 671 (68,227)
Citation 15

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

23.

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 647 (71,516)
Citation 9

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

24.

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
University of Melbourne - Department of Finance, Columbia University and University of Technology Sydney (UTS)
Downloads 607 (77,387)
Citation 7

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

25.

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 591 (80,009)
Citation 3

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

26.

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), Nasdaq, Inc. and University of Vienna - Department of Finance
Downloads 587 (80,648)
Citation 4

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

27.

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 566 (84,651)
Citation 33

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

28.

Information Flows and Systematic Risk

Society for Financial Studies Cavalcade, Forthcoming
Number of pages: 41 Posted: 08 Jul 2021 Last Revised: 04 Mar 2022
Cornell University - Department of Economics, University of Technology Sydney (UTS) - School of Finance and Economics, Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 538 (89,995)
Citation 1

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information flows, asset pricing, return premium, systematic risk

29.

Biased volatility perceptions: Evidence from the laboratory and financial markets

Journal of Banking and Finance, Forthcoming, UNSW Business School Research Paper No. 04, 2019
Number of pages: 75 Posted: 24 Jan 2015 Last Revised: 07 Oct 2022
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 522 (93,683)
Citation 1

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behavioral finance, neurofinance, risk perception, decision making under uncertainty, efficient coding

30.

Evading Capital Controls via Cryptocurrencies: Evidence from the Blockchain

Number of pages: 61 Posted: 08 Nov 2021 Last Revised: 10 Sep 2023
Maggie Hu, Adrian D. Lee and Tālis J. Putniņš
The Chinese University of Hong Kong, Deakin University - Department of Finance (Property and Real Estate) and University of Technology Sydney (UTS)
Downloads 507 (96,839)
Citation 3

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bitcoin, blockchain, capital flight, cryptocurrency, capital control

31.

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 431 (117,475)
Citation 9

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Price Discovery, Gold, Gold Futures, Market Microstructure

32.

Learning about adverse selection in markets

Number of pages: 85 Posted: 13 Dec 2018 Last Revised: 05 Dec 2023
Nihad Aliyev, Xuezhong He and Tālis J. Putniņš
Macquarie University, Xi'an Jiaotong-Liverpool University (XJTLU) and University of Technology Sydney (UTS)
Downloads 419 (121,759)
Citation 2

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adverse selection, multidimensional learning, market stability, extreme price movements.

33.

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, Eberhard-Karls University Tübingen, Macquarie University, Technische Universität München (TUM) - TUM School of Management, Melbourne Law School, University of Virginia School of Law, Singapore Management University - Yong Pung How School of Law, European University Viadrina Frankfurt (Oder) - European New School of Digital Studies, City University of Hong Kong (CityU) – School of Law; Centre for Public Affairs and Law; Centre for Chinese and Comparative Law, National University of Singapore Faculty of Law, Hogan Lovells, Hogan Lovells, Tel Aviv University - Cegla Center for Interdisciplinary Research of the LawThe Hadar Jabotinsky Center for Interdisciplinary Research of Financial Markets, Crises and Technology (HJC), Cleary Gottlieb Steen & Hamilton LLP, Public Sector Credit Solutions, The University of Western Australia, 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 School, 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, University of Vienna, Faculty of Law, City University of Hong Kong (CityU) - Centre for Chinese & Comparative Law, University of Melbourne - Law School, London School of Economics & Political Science (LSE), Students and White & Case LLP
Downloads 357 (145,407)

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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

34.

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
University of Melbourne - Department of Finance, University of Technology Sydney (UTS) and University of Sydney - Discipline of Finance
Downloads 352 (147,613)
Citation 4

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Anonymity, execution cost, broker identity, strategic trading

35.

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
University of Melbourne - Department of Finance and University of Technology Sydney (UTS)
Downloads 320 (163,524)
Citation 10

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manipulation, closing price, high-closing, experimental market

36.

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 283 (185,898)
Citation 1

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

37.

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 University and University of Technology Sydney (UTS)
Downloads 274 (192,180)
Citation 8

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

38.

Spiraling Downward: The Real Impacts of Public Short Campaigns on Product Innovation

Nanyang Business School Research Paper No. 22-28
Number of pages: 68 Posted: 29 Jul 2022 Last Revised: 31 Jan 2023
Claire Liu, Angie Low and Tālis J. Putniņš
University of Sydney, Nanyang Business School, Nanyang Technological University and University of Technology Sydney (UTS)
Downloads 259 (203,297)
Citation 1

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Public Short Campaigns, Short Selling, Product Innovation, Real Effects, Stakeholder Relationship

39.

Digital Assets and Markets: A Transaction-Cost analysis of market architectures

SWIFT Institute Working Paper No. 2021-001
Number of pages: 48 Posted: 14 Dec 2022 Last Revised: 16 Dec 2022
Angelo Aspris, Anne Haubo Dyhrberg, Tālis J. Putniņš and Sean Foley
University of Sydney - Discipline of Finance, Wilfrid Laurier University - Lazaridis School of Business and Economics, University of Technology Sydney (UTS) and Macquarie University
Downloads 256 (205,655)

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tokenized assets, digital assets, market architectures, tokenzied economy

40.

A Better Market Design? Applying ‘Automated Market Makers’ to Traditional Financial Markets

Number of pages: 58 Posted: 26 May 2023 Last Revised: 18 Jun 2023
Sean Foley, Peter O'Neill and Tālis J. Putniņš
Macquarie University, UNSW Australia Business School, School of Banking and Finance and University of Technology Sydney (UTS)
Downloads 249 (211,318)

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Market Design, Liquidity, Automated Market Makers, Cryptocurrency, Uniswap

41.

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 248 (212,102)

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liquidity, informational efficiency, market makers, stock analysts

42.

Detecting Layering and Spoofing in Markets

Number of pages: 58 Posted: 01 Aug 2023 Last Revised: 03 Nov 2023
Bao Linh Do and Tālis J. Putniņš
University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 230 (228,364)

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layering, spoofing, manipulation, detection

43.

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 214 (245,408)
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Shadow Economy, Latvia, Lithuania, Estonia

44.

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 203 (256,507)
Citation 1

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

45.

Noisy Stock Prices and Capital Allocation Efficiency

Number of pages: 42 Posted: 20 Jan 2022
Jonathan Brogaard, Huong Nguyen and Tālis J. Putniņš
University of Utah - David Eccles School of Business, Faculty of Finance, University of Economics, The University of Danang, Vietnam and University of Technology Sydney (UTS)
Downloads 202 (257,638)

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capital allocation, investment-to-Q sensitivity, investment-to-value-added elasticity, informational efficiency

46.

The Real Effects of Dark Trading

Number of pages: 68 Posted: 01 Feb 2023 Last Revised: 05 Aug 2023
Leonidas G. Barbopoulos, Tālis J. Putniņš and Khaladdin Rzayev
University of Edinburgh, University of Technology Sydney (UTS) and University of Edinburgh
Downloads 192 (270,953)

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Dark trading, informational efficiency, investment-to-price sensitivity, corporate decisions

47.

Algos Gone Wild: What Drives the Extreme Order Cancellation Rates in Modern Markets?

Journal of Banking and Finance, Forthcoming
Number of pages: 49 Posted: 30 Dec 2020 Last Revised: 04 May 2021
Marta Khomyn and Tālis J. Putniņš
University of Adelaide and University of Technology Sydney (UTS)
Downloads 188 (274,830)

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order-to-trade ratio, market fragmentation, regulation, liquidity, HFT

48.

Stealing Digital Assets: Evidence From Cryptocurrency Exchange Hacks

Number of pages: 23 Posted: 01 Aug 2023
Khanh Quoc Nguyen and Tālis J. Putniņš
University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 171 (298,539)

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cryptocurrencies, digital assets, centralized exchanges, theft, hack, cyber crime

49.

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 169 (302,991)
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Shadow Economy, Moldova, Romania, Poland, Baltic States

50.

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 165 (307,708)

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

51.

How Should We Ring the Closing Bell? Determining Optimal Closing Auction Design

Number of pages: 52 Posted: 06 Apr 2022 Last Revised: 13 Aug 2023
Wilfrid Laurier University - Lazaridis School of Business and Economics, University of Technology Sydney, Macquarie University and University of Technology Sydney (UTS)
Downloads 128 (377,227)

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Closing Auction, Auction Design, Market Quality, Market Integrity

52.

Contagious Crime: How Cryptocurrency Manipulation Spills into Stocks

Number of pages: 32 Posted: 19 Jul 2023
Anirudh Dhawan, Tālis J. Putniņš and Atiqur Rahman Rasel
Indian Institute of Management Bangalore, University of Technology Sydney (UTS) and University of Technology Sydney (UTS), UTS Business School, Students
Downloads 126 (381,753)

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market manipulation, pump-and-dump, securities regulation

53.

Benchmarking Benchmarks

Number of pages: 41 Posted: 23 Jun 2022
Marta Khomyn and Tālis J. Putniņš
University of Adelaide and University of Technology Sydney (UTS)
Downloads 110 (421,822)

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benchmark prices, information shares, price discovery

54.

Is public distrust to the finance sector warranted? Evidence from the extent of financial adviser misconduct

Number of pages: 55 Posted: 11 Dec 2022 Last Revised: 23 Sep 2023
Nihad Aliyev, Inji Allahverdiyeva and Tālis J. Putniņš
Macquarie University, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 101 (448,323)

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Trust, financial advisers, financial misconduct, consumer finance

55.

Does DeFi Remove the Need for Trust? Evidence From a Natural Experiment in Stablecoin Lending

Number of pages: 21 Posted: 22 Jul 2022
Kanis Saengchote, Tālis J. Putniņš and Krislert Samphantharak
Department of Banking and Finance, Chulalongkorn Business School, University of Technology Sydney (UTS) and University of California, San Diego - School of Global Policy and Strategy
Downloads 100 (451,376)
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DeFi, stablecoin, trust, incomplete contracts, regulation

56.

Scam Alert: Can Cryptocurrency Scams Be Detected Early?

Number of pages: 55 Posted: 26 Jun 2023
Nihad Aliyev, Inji Allahverdiyeva and Tālis J. Putniņš
Macquarie University, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 83 (511,453)

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Cryptocurrencies, scams, rug pulls, hard rug pulls, soft rug pulls

57.

The Real Effects of Market Manipulation

Number of pages: 53 Posted: 26 Jun 2023
Nihad Aliyev, Inji Allahverdiyeva and Tālis J. Putniņš
Macquarie University, University of Technology Sydney (UTS) and University of Technology Sydney (UTS)
Downloads 72 (555,485)

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Market manipulation, investment-to-price sensitivity, corporate investment

58.

The Falling Number of Us Listed Stocks: Is Market Structure to Blame?

Number of pages: 41 Posted: 04 Jun 2022 Last Revised: 21 Nov 2023
Man Nguyen and Tālis J. Putniņš
affiliation not provided to SSRN and University of Technology Sydney (UTS)
Downloads 61 (606,839)

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G10, G15, G30