Lars Hornuf

CESifo (Center for Economic Studies and Ifo Institute)

Visiting Researcher

Poschinger Str. 5

Munich, DE-81679

Germany

University of Bremen - Faculty of Business Studies and Economics

Professor of Finance

Bremen, D-28359

Germany

http://www.hornuf.com

Max Planck Institute for Innovation and Competition

Affiliated Research Fellow

Marstallplatz 1

Munich, 80539

Germany

SCHOLARLY PAPERS

29

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CITATIONS
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Top 44,864

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3

Scholarly Papers (29)

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 Bremen - Faculty of Business Studies and Economics and Duke University - Fuqua School of Business
Downloads 3,146 (2,206)

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experimental economics, cheating, cross-culture study

2.

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 Bremen - Faculty of Business Studies and Economics
Downloads 3,093 (2,984)

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Fintech, Entrepreneurship, Startups, Financial institutions

3.

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 Bremen - Faculty of Business Studies and Economics and SKEMA Business School
Downloads 933 (5,352)

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crowdinvesting, equity crowdfunding, business angels, regulation

4.

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 Bremen - Faculty of Business Studies and Economics and University of Mannheim
Downloads 905 (18,064)
Citation 1

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

5.

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 Bremen - Faculty of Business Studies and Economics
Downloads 878 (18,299)
Citation 1

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

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 Bremen - Faculty of Business Studies and Economics and SKEMA Business School
Downloads 590 (11,419)

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crowdinvesting, crowdfunding, securities regulation, investor protection

7.

Internet-Based Entrepreneurial Finance: Lessons from Germany

Number of pages: 36 Posted: 18 Aug 2014 Last Revised: 31 Jan 2018
Lars Hornuf and Armin Schwienbacher
University of Bremen - Faculty of Business Studies and Economics and SKEMA Business School
Downloads 458 (28,500)

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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 Bremen - Faculty of Business Studies and Economics, University of Oxford, University of Mannheim and Technische Universität München (TUM) - TUM School of Management
Downloads 393 (65,725)

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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
University of Oxford, University of Mannheim and University of Bremen - Faculty of Business Studies and Economics
Downloads 1 (612,296)
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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 Bremen - Faculty of Business Studies and Economics
Downloads 357 (59,515)

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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 Bremen - Faculty of Business Studies and Economics and Ludwig Maximilian University of Munich
Downloads 302 (66,507)

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

11.

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 Bremen - Faculty of Business Studies and Economics and University of Hamburg - Institute of Law & Economics
Downloads 238 (115,503)

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

12.

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

European Company Law, 13(2): 56-66, 2016
Number of pages: 21 Posted: 19 Apr 2015 Last Revised: 17 Jun 2017
Lars Klöhn, Lars Hornuf and Tobias Schilling
Humboldt University of Berlin - Faculty of Law, University of Bremen - Faculty of Business Studies and Economics and Humboldt University of Berlin - Faculty of Law
Downloads 237 (13,929)

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crowdfunding, crowdinvesting, startups, entrepreneurship, securities law

13.

Equity Crowdfunding in Germany and the UK: Follow-Up Funding and Firm Failure

Max Planck Institute for Innovation & Competition Research Paper No. 17-09, CESifo Working Paper Series No. 6642
Number of pages: 41 Posted: 20 Aug 2017 Last Revised: 14 Feb 2018
University of Bremen - Faculty of Business Studies and Economics, Max Planck Institute for Innovation and Competition, Students and University of Bremen - Faculty of Business Studies and Economics
Downloads 227 (121,016)

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Equity Crowdfunding; Follow-Up Funding; Firm Survival

14.

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 Bremen - Faculty of Business Studies and Economics and Goethe University Frankfurt - Faculty of Law
Downloads 215 (89,020)

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

15.

Covenants in European Investment-Grade Corporate Bonds

Number of pages: 23 Posted: 10 Feb 2014 Last Revised: 10 Jan 2015
Lars Hornuf, Markus Reps and Stefan Schäferling
University of Bremen - Faculty of Business Studies and Economics, Ludwig Maximilian University of Munich and Ludwig Maximilian University of Munich - Faculty of Law
Downloads 213 (89,366)

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bond financing, covenants, creditor protection, debt governance

16.

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

Journal of International Money and Finance, Vol. 85, 2018
Number of pages: 18 Posted: 02 Oct 2012 Last Revised: 30 Apr 2018
Andreas Engert and Lars Hornuf
University of Mannheim and University of Bremen - Faculty of Business Studies and Economics
Downloads 153 (133,637)
Citation 1

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

17.

Market Mechanisms and Funding Dynamics in Equity Crowdfunding

Journal of Corporate Finance, Forthcoming
Number of pages: 47 Posted: 12 Jun 2015 Last Revised: 31 Aug 2017
Lars Hornuf and Armin Schwienbacher
University of Bremen - Faculty of Business Studies and Economics and SKEMA Business School
Downloads 134 (33,038)

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Equity crowdfunding, Crowdinvesting, Startups, Securities issuance, investment dynamics, Entrepreneurial finance

Can Television Reduce Xenophobia? The Case of East Germany

Number of pages: 30 Posted: 16 Mar 2017
Lars Hornuf and Marc Oliver Rieger
University of Bremen - Faculty of Business Studies and Economics and University of Trier
Downloads 56 (339,706)

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Mass media, Television, Xenophobia, Attitudes towards foreigners, East Germany, Natural experiment

Can Television Reduce Xenophobia? The Case of East Germany

CESifo Working Paper Series No. 6632
Number of pages: 32 Posted: 20 Sep 2017
Lars Hornuf and Marc Oliver Rieger
University of Bremen - Faculty of Business Studies and Economics and University of Trier
Downloads 21 (485,637)

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mass media, television, xenophobia, attitudes towards foreigners, East Germany, natural experiment

19.

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 Bremen - Faculty of Business Studies and Economics and Ludwig Maximilian University of Munich
Downloads 77 (138,581)

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regulatory competition, charter competition, legal arbitrage

20.

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 Bremen - Faculty of Business Studies and Economics and University of Trier - Faculty of Economics
Downloads 70 (113,035)

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Auctions, Equity crowdfunding, Valuation of shares

21.

Where Did Fintechs Come from, and Where Do They Go? The Transformation of the Financial Industry in Germany after Digitalization

Number of pages: 25 Posted: 18 Sep 2017
Barbara Brandl and Lars Hornuf
University of Jena and University of Bremen - Faculty of Business Studies and Economics
Downloads 0 (149,897)

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FinTech, Founders, Financial industry, IT infrastructure

22.

Dynamics of Investor Communication in Equity Crowdfunding

Max Planck Institute for Innovation & Competition Research Paper No. 17-06
Number of pages: 35 Posted: 04 May 2017
University of Regensburg - Department of Finance, University of Bremen - Faculty of Business Studies and Economics and University of Regensburg - Department of Finance
Downloads 0 (204,422)

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Crowdfunding, Investor Communication, Entrepreneurial Finance, Sentiment Analysis, Linguistic Devices

23.

The Fintech Market in Germany

Number of pages: 100 Posted: 16 Dec 2016 Last Revised: 02 Mar 2017
University of Regensburg - Department of Finance, University of Bremen - Faculty of Business Studies and Economics, Max Planck Institute for Innovation and Competition, Students and University of Regensburg - Department of Finance
Downloads 0 (19,442)

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

24.

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 Bremen - Faculty of Business Studies and Economics and Humboldt University of Berlin - Faculty of Law
Downloads 0 (90,722)

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Crowdinvesting, Equity Crowdfunding, Financial Contracting

25.

The Economic Impact of Forming a European Company

Number of pages: 43 Posted: 11 Sep 2016 Last Revised: 16 Nov 2016
University of Bremen - Faculty of Business Studies and Economics, Cranfield University - School of Management and SKEMA Business School
Downloads 0 (240,119)

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

26.

Disentangling Crowdfunding from Fraudfunding

Max Planck Institute for Innovation & Competition Research Paper No. 16-09
Number of pages: 62 Posted: 26 Aug 2016 Last Revised: 16 Apr 2017
York University - Schulich School of Business, University of Bremen - Faculty of Business Studies and Economics, Concordia University and Concordia University
Downloads 0 (44,061)

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Crowdfunding, Entrepreneurial Finance, Fraud, Internet

27.

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: 13 Mar 2017
Lars Hornuf and Matthias Schmitt
University of Bremen - Faculty of Business Studies and Economics and Max Planck Institute for Innovation and Competition, Students
Downloads 0 (75,737)

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

28.

Which Updates During an Equity Crowdfunding Campaign Increase Crowd Participation?

Research Papers in Economics No. 6/16
Number of pages: 39 Posted: 21 May 2016 Last Revised: 31 Mar 2017
Jorn H. Block, Lars Hornuf and Alexandra Moritz
University of Trier - Faculty of Management, University of Bremen - Faculty of Business Studies and Economics and University of Trier - Faculty of Management
Downloads 0 (79,064)

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

29.

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 Bremen - Faculty of Business Studies and Economics
Downloads 0 (280,737)

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