Lars Hornuf

University of Trier

Professor of Law and Economics

Behringstraße 21

Trier, 54296

Germany

Max Planck Institute for Innovation and Competition

Affiliated Research Fellow

Marstallplatz 1

Munich, 80539

Germany

Institute for Labour Law and Industrial Relations in the European Union (IAAEU)

Behringstr. 21

Campus II, Building H, 7. Floor

Trier, DE 54296

Germany

SCHOLARLY PAPERS

26

DOWNLOADS
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CITATIONS
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Top 45,209

in Total Papers Citations

3

Scholarly Papers (26)

1.

The (True) Legacy of Two Really Existing Economic Systems

Munich Discussion Paper No. 2014-26
Number of pages: 26 Posted: 22 Jun 2014 Last Revised: 30 Apr 2015
Duke University - Fuqua School of Business, Duke University, University of Trier and Duke University - Fuqua School of Business
Downloads 3,146 (2,031)

Abstract:

experimental economics, cheating, cross-culture study

2.

Crowdinvesting – Angel Investing for the Masses?

Handbook of Research on Venture Capital: Volume 3. Business Angels, Forthcoming
Number of pages: 20 Posted: 26 Feb 2014 Last Revised: 02 Nov 2014
Lars Hornuf and Armin Schwienbacher
University of Trier and SKEMA Business School
Downloads 933 (7,123)

Abstract:

crowdinvesting, equity crowdfunding, business angels, regulation

3.

Incorporating under European Law: The Societas Europaea as a Vehicle for Legal Arbitrage

Number of pages: 33 Posted: 15 Dec 2008
University of Oxford, University of Trier and University of Mannheim
Downloads 905 (16,707)
Citation 1

Abstract:

legal arbitrage, regulatory arbitrage, regulatory competition, charter competition, Societas Europaea, European Company, EC company law, incorporation

4.

The Societas Europaea: Good News for European Firms

ECGI - Law Working Paper No. 127/2009
Number of pages: 31 Posted: 25 May 2009 Last Revised: 10 Oct 2010
University of Oxford, University of Mannheim and University of Trier
Downloads 878 (17,211)
Citation 1

Abstract:

event study, Societas Europaea, European Company, EC company law, incorporation, charter competition, regulatory competition, legal arbitrage

5.

The Emergence of the Global Fintech Market: Economic and Technological Determinants

CESifo Working Paper Series No. 6131
Number of pages: 37 Posted: 27 Aug 2016 Last Revised: 05 Dec 2016
Christian Haddad and Lars Hornuf
Univ. Lille, SKEMA Business School, EA4112 - LSMRC and University of Trier
Downloads 602 (33,591)

Abstract:

Fintech, Entrepreneurship, Startups, Financial institutions

6.

Should Securities Regulation Promote Equity Crowdfunding?

Number of pages: 29 Posted: 22 Mar 2014 Last Revised: 17 Dec 2016
Lars Hornuf and Armin Schwienbacher
University of Trier and SKEMA Business School
Downloads 590 (14,953)

Abstract:

crowdinvesting, crowdfunding, securities regulation, investor protection

7.

The Emergence of Crowdinvesting in Europe: With an In-Depth Analysis of the German Market

Posted: 18 Aug 2014 Last Revised: 06 Oct 2016
Lars Hornuf and Armin Schwienbacher
University of Trier and SKEMA Business School

Abstract:

entrepreneurial finance, crowdinvesting, equity crowdfunding

Does Charter Competition Foster Entrepreneurship? A Difference-in-Difference Approach to European Company Law Reforms

ECGI - Finance Working Paper No. 308/2011
Number of pages: 40 Posted: 27 Jan 2012
University of Trier, University of Oxford, University of Mannheim and Technische Universität München (TUM) - TUM School of Management
Downloads 374 (60,675)

Abstract:

entrepreneurship, regulatory competition, charter competition, corporate mobility

Does Charter Competition Foster Entrepreneurship? A Difference‐In‐Difference Approach to European Company Law Reforms

JCMS: Journal of Common Market Studies, Vol. 51, Issue 3, pp. 399-415, 2013
Number of pages: 17 Posted: 28 Mar 2013
Ludwig Maximilian University of Munich, University of Mannheim and University of Trier
Downloads 1 (549,098)

Abstract:

9.

Where Do Firms Issue Debt? An Empirical Analysis of Issuer Location and Regulatory Competition in Europe

ECGI - Finance Working Paper No. 292/2010
Number of pages: 43 Posted: 10 Oct 2010
University of Oxford, University of Mannheim and University of Trier
Downloads 357 (56,684)

Abstract:

debt securities, corporate bonds, external finance, regulatory competition, tax competition, legal arbitrage, multinational corporations, subsidiaries

10.

Contracting Employee Involvement: An Analysis of Bargaining Over Employee Involvement Rules for a Societas Europaea

ECGI - Law Working Paper No. 185/2012
Number of pages: 42 Posted: 04 Jan 2012 Last Revised: 30 Jan 2012
Horst Eidenmueller, Lars Hornuf and Markus Reps
University of Oxford, University of Trier and Ludwig Maximilian University of Munich
Downloads 302 (63,423)

Abstract:

European Company, Societas Europaea, employee involvement, contractual negotiations, contract governance

11.

The Regulation of Crowdfunding in the German Small Investor Protection Act: Content, Consequences, Critique, Suggestions

Diritto Della Banca e del Mercato Finanziario, Forthcoming
Number of pages: 21 Posted: 19 Apr 2015 Last Revised: 09 Jun 2015
Lars Klöhn, Lars Hornuf and Tobias Schilling
Humboldt University of Berlin - Faculty of Law, University of Trier and Humboldt University of Berlin - Faculty of Law
Downloads 237 (19,744)

Abstract:

crowdfunding, crowdinvesting, startups, entrepreneurship, securities law

12.

Preliminary References - Analyzing the Determinants that Made the ECJ the Powerful Court It Is

CESifo Working Paper Series No. 3769
Number of pages: 32 Posted: 16 May 2011 Last Revised: 13 Aug 2013
Lars Hornuf and Stefan Voigt
University of Trier and University of Hamburg - Institute of Law & Economics
Downloads 227 (105,928)

Abstract:

European Court of Justice, economic analysis of court behavior, preliminary reference procedure

13.

Regulating Fraud in Financial Markets: Can Behavioural Designs Prevent Future Criminal Offences?

Journal of Risk Management in Financial Institutions, 2014 (2), Forthcoming
Number of pages: 16 Posted: 21 Dec 2013
Lars Hornuf and Georg Haas
University of Trier and Ludwig Maximilian University of Munich - Faculty of Law
Downloads 215 (89,398)

Abstract:

cheating, fraud, behavioural designs, Bernard Madoff, Kweku Adoboli, LIBOR scandal

14.

Covenants in European Investment-Grade Corporate Bonds

Number of pages: 23 Posted: 10 Feb 2014 Last Revised: 10 Jan 2015
University of Trier, Ludwig Maximilian University of Munich and Ludwig Maximilian University of Munich - Faculty of Law
Downloads 213 (86,948)

Abstract:

bond financing, covenants, creditor protection, debt governance

15.

Market Standards in Financial Contracting: The Euro’s Effect on Choice of Law in European Debt Securities

Number of pages: 48 Posted: 02 Oct 2012 Last Revised: 13 Jul 2015
Andreas Engert and Lars Hornuf
University of Mannheim and University of Trier
Downloads 153 (128,942)
Citation 1

Abstract:

financial contracting, netwoerk effect, debt securitis, economic and monetary union

16.

Funding Dynamics in Crowdinvesting

Number of pages: 46 Posted: 12 Jun 2015 Last Revised: 21 Sep 2015
Lars Hornuf and Armin Schwienbacher
University of Trier and SKEMA Business School
Downloads 134 (47,608)

Abstract:

crowdinvesting, startups, securities issuance, IPO investment dynamics, entrepreneurial finance

17.

The End of Regulatory Competition in European Company Law?

Andrássy Working Paper Series No 33,
Number of pages: 28 Posted: 12 Sep 2014
Lars Hornuf and Julia Lindner
University of Trier and Ludwig Maximilian University of Munich
Downloads 77 (172,279)

Abstract:

regulatory competition, charter competition, legal arbitrage

18.

Pricing Shares in Equity Crowdfunding

Research Papers in Economics, No. 7/15
Number of pages: 29 Posted: 30 Jun 2015 Last Revised: 28 Jul 2016
Lars Hornuf and Matthias Neuenkirch
University of Trier and University of Trier - Faculty of Economics
Downloads 70 (124,538)

Abstract:

Auctions, Equity crowdfunding, Valuation of shares

19.

Marketplace Lending of SMEs

Number of pages: 39 Posted: 09 Jan 2017
Douglas J. Cumming and Lars Hornuf
York University - Schulich School of Business and University of Trier
Downloads 0 (312,150)

Abstract:

Debt Crowdfunding, Entrepreneurial Finance, Internet

20.

The Fintech Market in Germany

Number of pages: 100 Posted: 16 Dec 2016
Universität Regensburg, University of Trier, Max Planck Institute for Innovation and Competition and University of Regensburg
Downloads 0 (119,951)

Abstract:

FinTech, Crowdlending, Social Trading, Robo-Advice, Personal Financial Management, Payments, Insurance

21.

Financial Contracting in Crowdinvesting: Lessons from the German Market

Number of pages: 58 Posted: 15 Sep 2016
Lars Klöhn, Lars Hornuf and Tobias Schilling
Humboldt University of Berlin - Faculty of Law, University of Trier and Humboldt University of Berlin - Faculty of Law
Downloads 0 (173,313)

Abstract:

Crowdinvesting, Equity Crowdfunding, Financial Contracting

22.

The Economic Impact of Forming a European Company

Number of pages: 43 Posted: 11 Sep 2016 Last Revised: 16 Nov 2016
University of Trier, Cranfield University - School of Management and SKEMA Business School
Downloads 0 (323,587)

Abstract:

corporate governance, incorporation, board structure, transfer of seat, Societas Europaea (SE)

23.

Disentangling Crowdfunding from Fraudfunding

Max Planck Institute for Innovation & Competition Research Paper No. 16-09
Number of pages: 58 Posted: 26 Aug 2016 Last Revised: 30 Aug 2016
York University - Schulich School of Business, University of Trier, Concordia University and Concordia University
Downloads 0 (120,546)

Abstract:

Crowdfunding, Entrepreneurial Finance, Fraud, Internet

24.

Does a Local Bias Exist in Equity Crowdfunding?

Max Planck Institute for Innovation & Competition Research Paper No. 16-07
Number of pages: 58 Posted: 27 Jun 2016 Last Revised: 06 Jan 2017
Lars Hornuf and Matthias Schmitt
University of Trier and Max Planck Institute for Innovation and Competition
Downloads 0 (149,247)

Abstract:

Equity crowdfunding, Crowdinvesting, Local bias, Individual investor behavior, Entrepreneurial finance

25.

Which Updates During an Equity Crowdfunding Campaign Increase Crowd Participation?

Research Papers in Economics No. 6/16
Number of pages: 31 Posted: 21 May 2016 Last Revised: 16 Sep 2016
Jorn H. Block, Lars Hornuf and Alexandra Moritz
University of Trier - Faculty of Management, University of Trier and University of Trier - Faculty of Management
Downloads 0 (116,631)

Abstract:

equity crowdfunding, crowdinvesting, updates, information disclosure, investment dynamics, entrepreneurial finance

26.

Leadership and Persistency in Spontaneous Dishonesty

IAAEU Discussion Paper Series in Economics No. 10/2015
Number of pages: 29 Posted: 17 Oct 2015
Susanne Braun and Lars Hornuf
Ludwig Maximilian University of Munich and University of Trier
Downloads 0 (277,056)

Abstract:

Cheating, dishonest behavior, authentic leadership, self-concept maintenance, organizations