Publications in Refereed Journals


Ruenzi, S.Hoechle, D., Schaub, N., Schmid, M. (2018): Financial Advice and Bank Profits, forthcoming in: Review of Financial Studies.

Niessen-Ruenzi, A.Ruenzi, S. (2018): Sex Matters – Gender Bias in the Mutual Fund Industry, forthcoming in: Management Science.


Agarwal, V., Ruenzi, S., Weigert, F. (2017): Tail Risk in Hedge Funds: A Unique View from Portfolio Holdings, in: Journal of Financial Economics, Vol. 125 (3), pp. 610-636.

Arnold, Marc, D. Hackbarth, and Tatjana Xenia Puhan (2017): Financing Asset Sales and Business Cycles, forthcoming in: Review of Finance.

Chabi-Yo, F., Ruenzi, S., Weigert, F. (2017): Crash Sensitivity and the Cross-Section of Expected Stock Returns, forthcoming in: Journal of Financial and Quantitative Analysis

Focke, F., Maug, E., Niessen-Ruenzi, A. (2017): The Impact of Firm Prestige on Executive Compensation, in: Journal of Financial Economics, Vol. 123 (2), pp. 313-336.

Hoechle, D., Ruenzi, S.Schaub, N., Schmid, M. (2017): The Impact of Financial Advice on Trade Performance and Behavioral Biases, in: Review of Finance, Vol. 21 (2), pp. 871-910.


Koch, A., Ruenzi, S., Starks, L. T. (2016): Commonality in Liquidity: A Demand-Side Explanation, in: Review of Financial Studies, Vol. 29 (8), pp. 1943-1974.

Jacobs, H., Hillert, A. (2016): Alphabetic Bias, Investor Recognition, and Trading Behavior, in: Review of Finance, Vol. 20 (2), pp. 693-723.


Hillert, A., Maug, E., Obernberger, S. (2015): Stock Repurchases and Liquidity, in: Journal of Financial Economics, Vol. 119 (1), pp. 186-209.


von Lilienfeld-Toal, U., Ruenzi, S. (2014): CEO Ownership, Stock Market Performance, and Managerial Discretion, in: Journal of Finance, Vol. 69, pp. 1013-1050.

Hillert, A., Jacobs, H., Müller, S. (2014): Media Makes Momentum, in: Review of Financial Studies, Vol. 27, pp. 3467-3501.

Fang, J., Kempf, A., Trapp, M. (2014): Fund Manager Allocation, in: Journal of Financial Economics, Vol. 111, pp. 661-674.


Schaub, N., Schmid, M. (2013): Hedge Fund Liquidity and Performance: Evidence from the Financial Crisis, in: Journal of Banking and Finance, Vol. 37, pp. 671-692.


Finter, P., Niessen-Ruenzi, A., Ruenzi, S. (2012): The Impact of Investor Sentiment on the German Stock Market, in: Zeitschrift für Betriebswirtschaft, Vol. 82(2), pp. 133-163.


Pütz, A., Ruenzi, S. (2011): Overconfidence Among Mutual Fund Managers, in: Journal of Business Finance & Accounting, April, Vol. 38 (5-6), pp. 684-712.

Bär, M., Kempf, A., Ruenzi, S. (2011): Is a Team Different from the Sum of Its Parts? Team Management in the Mutual Fund Industry, in: Review of Finance, April,  Vol. 15 (2), pp. 359-396.


Fang, J.Ruenzi, S. (2010): Rapid Trading bei deutschen Aktienfonds: Evidenz aus einer großen deutschen Fondsgesellschaft, in: Zeitschrift für Betriebswirtschaft, Vol. 80 (9), p. 883-920.

Niessen, A., Ruenzi, S. (2010): Political Connectedness and Firm Performance - Evidence from Germanyin: German Economic Review, Vol. 11 (4), p. 441 - 464.


Fischer, M., Köck, C., Schlüter, S., Weigert, F. (2009): An Empirical Comparison of Multivariate Copula Models, Quantitative Finance, Vol 9(7), S. 839-854.

Kempf, A., Ruenzi, S., Thiele, T. (2009):  Employment Risk, Compensation Incentives, and Managerial Risk Taking: Evidence from the Mutual Fund Industry, Journal of Financial Economics, Vol. 92, S. 92 - 108.


Kempf, A., Ruenzi, S. (2008): Tournaments in Mutual Fund Families, Review of Financial Studies, Vol.  21 (2), S. 1013 - 1036. Ausgezeichnet mit dem Global Finance Conference Best Paper Award 2003.

Kempf, A., Ruenzi, S. (2008):  Family Matters: The Performance-Flow Relationship in the Mutual Fund Industry, Journal of Business Finance & Accounting, Vol. 35 (1) & (2), S. 177 - 199.


Ber, S., Kempf, A., Ruenzi, S. (2007): Determinanten der Mittelzuflüsse bei deutschen Aktienfonds, Zeitschrift für betriebswirtschaftliche Forschung, Vol. 59 (Jan), S. 35 - 60.


Kempf, A., Ruenzi, S. (2006):  Status Quo Bias and the Number of Alternatives - An Empirical Illustration from the Mutual Fund Industry, Journal of Behavioral Finance, Vol. 7 (4), S. 204 - 213. 


Ruenzi, S. (2005): Mutual Fund Growth in Standard and Specialist Market Segments, Financial Markets and Portfolio Management, Vol. 19 (2), S. 151 - 165. Ausgezeichnet mit dem Swisscanto Best Professional Paper in FMPM Award 2005.

Ruenzi, S. (2005): EthikfondsDie Betriebswirtschaft, Vol 65, S. 101 - 104.