Dr. Alexander Hillert

University of Mannheim
Business School
Chair of International Finance
D-68161 Mannheim


Note: This page is not being updated since 09/2016!



Current Position

  • Postdoctoral fellow at the Chair of International Finance.

Research Interests

  • Empirical asset pricing
  • Textual analysis
  • Behavioral finance
  • Empirical corporate finance


  • "Stock Repurchases and Liquidity" (with E. Maug and S. Obernberger), Journal of Financial Economics, 2016, Vol. 119, pp. 186-209. Download here.
  • "Alphabetic Bias, Investor Recognition, and Trading Behavior" (with H. Jacobs), Review of Finance, 2016, Vol. 20, pp. 693-723. Downlod here.
  • "Media Makes Momentum" (with H. Jacobs and S. Müller), Review of Financial Studies, 2014, Vol. 27, pp. 3647-3501. Download here.

Working Papers

  • "Ninety Years of Media Coverage and the Cross-Section of Stock Returns" (with M. Ungeheuer), 2015. Download here.
  • "Mutual Fund Shareholder Letters: Flows, Performance, and Managerial Behavior" (with A. Niessen-Ruenzi and S. Ruenzi), 2016. Previous title: "Mutual Fund Shareholder Letter Tone - Do Investors Listen?". Download here.
  • "Journalist Disagreement" (with H. Jacobs and S. Müller), 2015.

Work in Progress

  • "Newspaper Coverage and Lottery Stocks".
  • "M & A(dvertising)" (with A. Kunzmann and S. Ruenzi).

Academic Awards

  • "Nachwuchspreis" (Young Researcher Award) of the Verband der Hochschullehrer für Betriebswirtschaftslehre (German Academic Association for Business Research), for "Media Makes Momentum", 2015.
  • 1st prize for "Media Makes Momentum", ACATIS Value Award, 2015.
  • 2nd prize for "Media Makes Momentum", Finanzkompass – Innovationspreis des Finanzplatz Hamburg e.V. (Award for innovative research by the Financial Center Hamburg), 2015.
  • Scholarship of the University of Mannheim, 2007-2009.
  • Oliver Wyman Vordiplomspreis, University of Mannheim, 2007.

Education and Academic Degrees

  • 09/09 - 05/15: University of Mannheim, Germany.
    Ph. D. student of the doctoral program in finance (CDSB)

    • Dissertation: "Essays in Empirical Finance"
    • Adviser: Prof. Dr. Stefan Ruenzi

  • 09/08 - 12/08: HEC (École des Hautes Études Commerciales) Paris, France.

    • Semester abroad.

  • 09/05 - 07/09 : University of Mannheim, Germany.

    • Diploma in Business Economics (M.Sc. equivalent)

Professional Service:

  • Referee: Journal of Banking and Finance, Review of Managerial Studies
  • Reviewer: Canadian SSHRC