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Faculty of Business Studies and Economics: Chair for Business Administration, in particular Financial Services and Financial Technology

Prof. Dr. Lars Hornuf

Professor Doktor Lars Hornuf
© Matej Meza

Professor for Business Administration, in particular Financial Services and Financial Technology

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Personal Details

2023
Since March 1, 2023 Professor (W3) of Business Administration with a focus on Finance at TU Dresden

2022
Fellow of the Project Group AI & Finance at the Centre Responsible Digitality (ZEVEDI)

since 2021
Fellow of the CESifo Research Network

since 2020
Member of the Advisory Council of the Frankfurter Institut für Risikomanagement und Regulierung (FIRM)

2019
Offer for a Full Professorship for Finance, Skema Business School Paris (declined)

2019
Habilitation at the Faculty of Economics, University of Regensburg (Venia Legendi Business Administration)

2018
Certified Derivatives Trader (Eurex)

2018
Guest lecturer at the Rotterdam School of Managment, Erasmus University

since 2017
Professor of Business Administration with a focus on Financial Services and Financial Technology, University of Bremen

2017-2021
Research Fellow at the Center of Finance der Universität Regensburg

2017-2021
Affiliate Member CESifo Research Network

2017-2018
Guest lecturer at the German Graduate School of Managment and Law

2016-2021
Affiliated Research Fellow, Max Planck Institute for Innovation and Competition

2016-2017
Visiting Researcher at the Georgetown Law School

2016
Visiting Researcher at the Center for Economic Studies, Ludwig-Maximilians-University Munich

2015
Visiting Professor at the Max-Planck-Institut for Innovation and Competition

2015
Offer for an Assistant Professorsship (W1) for Innovation with a focus on Digital Innovation in the Service Industry at European Business School / Strascheg Institute for Entrepreneurship and Innovation (declined)

2014-2017
Assistant Professor for Economic Analysis of Law at the University of Trier and at the Institute for Labour Law and Industrial Relations in the European Union (IAAEU)

2014
Visiting Research Fellow at the Social Science Research Institute, Duke University

2014
Professeur Invité, Faculté de Finance, Banque, Comptabilité, Université Lille 2

2013
Certified Exchange Trader (Xetra, Spot Market), Frankfurt Stock Exchange

2012-2013
Visiting Professor, House of Finance, Goethe-University Frankfurt

2012
Visiting Scholar at Stanford Law School

2012-2014
Postdoctoral Researcher, Faculty of Law, LMU Munich

2011
PhD in Economics, Department of Economics, University of Munich

2010
Visiting Scholar, University of California, Berkeley

2009
Certified Business Mediator (CVM)

2008-2012
Research Associate, Faculty of Law, University of Munich

2006-2008
Junior Researcher and PhD Student, Ifo Institute for Economic Research

2005
Deutsche Bank Research

2005
MA in Political Economy, University of Essex

 

Publications

2022

  • Hornuf, Lars (eds.) (2022): Diginomics Research Perspectives: The Role of Digitalization in Business and Society, Springer: Cham.

2019

  • Gregor Dorfleitner and Lars Hornuf (2019): FinTech and Data Privacy in Germany: An Empirical Analysis with Policy Recommendations, Springer: Cham.  Order here.
  • Gregor Dorfleitner and Lars Hornuf (2019): FinTech und Datenschutz: Eine empirische Untersuchung mit Empfehlungen für Politik und Praxis, Springer Gabler: Wiesbaden. Order here.
  • Hainz, Christa and Lars Hornuf (2019): Praxiserfahrungen mit den Befreiungsvorschriften des Kleinanlegerschutzgesetzes: Eine aktuelle Bestandsaufnahme, ifo Forschungsbericht 102, ifo Institute, Munich. Download

2018

  • Cumming, Douglas and Lars Hornuf (eds.) (2018): The Economics of Crowdfunding: Startups, Portals, and Investor Behavior, Palgrave Macmillan: London. Order here.

2017

  • Dorfleitner, Gregor, Lars Hornuf, Matthias Schmitt and Martina Weber (2017): The German FinTech Market, Springer: Heidelberg. Order here.
  • Hainz, Christa, Lars Hornuf and Lars Klöhn (2017): Praxiserfahrungen mit den Befreiungsvorschriften des Kleinanlegerschutzgesetzes, ifo Forschungsbericht 78, ifo Institute, Munich. Download.

2012

  • Hornuf, Lars (2012): Regulatory Competition in European Corporate and Capital Market Law: An Empirical Analysis, European Studies in Law and Economics, Volume 7, Intersentia: Cambridge. Discussed in: Hellgardt (2016) European Business Organization Law Review 17(4), 577-581. Heine (2014) Common Market Law Review 51(6), 1877-1879. Schammo (2013) European Law Review 38(5), 723-725. Clottens (2012) Le droit des affaires – Het ondernemingsrecht. Si Bouazza Derian (2012) Concurrences Journal 3, 272-273. Order here.

2006

  • Hornuf, Lars, Günter Britschkat, Robert Lechner and Gernot Nerb (2006): Die Auswirkungen des Bundesverfassungsgerichtsurteils zum Sportwettenmarkt auf die deutsche Volkswirtschaft, ifo Forschungsbericht, 32. Download

2023

  • Blaseg, Daniel and Lars Hornuf (2023): Playing the Business Angel: The Impact of Well-Known Business Angels on Venture Performance, Entrepreneurship Theory and Practice. (Impact Factor 9.993 (2021), VHB-Jourqual 3 "A", FT50 List Journal). Download.
  • Dorfleitner, Gregor, Lars Hornuf and Julia Kreppmeier (2023): Promise Not Fulfilled: FinTech, Data Privacy, and the GDPR, Electronic Markets. (Impact Factor 6.017 (2021), VHB-Jourqual 3 "B"). SSRN.
  • Haddad, Christian and Lars Hornuf (2023): The Impact of Fintech Startups on Financial Institutions' Performance and Default Risk, European Journal of Finance. (Impact Factor 1.903 (2021), VHB-Jourqual 3 "B") Download.
  • Hassan, Sana, Sebastian Huhn, Lars Hornuf and Rolf Drechsler (2023): A Novel Default Risk Prediction and Feature Importance Analysis Technique for Market-place Lending using Machine Learning, Credit and Capital Markets. (VHB-Jourqual 3 "C").
  • Hillebrand, Kirsten, Lars Hornuf, Benjamin Müller and Daniel Vrankar (2023): The Social Dilemma of Big Data: Donating Personal Data to Promote Social Welfare, Information and Organization. (Impact Factor 5.387 (2021), VHB-Jourqual 3 "B"). Download.
  • Hornuf, Lars, Sven Hartmann and Marc Rieger (2023): Can Television Reduce Xenophobia? The Case of East Germany, Kyklos, 76(1): 77-100. (Impact Factor 1.796 (2021), VHB-Jourqual 3 "B") Download.
  • Hornuf, Lars and Sabrina Jeworrek (2023): The Effect of Community Managers on Online Idea Crowdsourcing Activities, Journal of the Association for Information Systems. 24(1) 222-248 (Impact Factor 7.790 (2021), VHB-Jourqual 3 "A") Download.
  • Hornuf, Lars and Christoph Siemroth (2023): A Field Experiment on Attracting Crowdfunders, Economics Letters. 222: 110928 (Impact Factor 1.469 (2021), VHB-Jourqual 3 "B") Download.
  • Hornuf, Lars and Gül Yüksel (2023): The Performance of Socially Responsible Investments: A Meta-Analysis, European Financial Management (Impact Factor 2.295 (2021), VHB-Jourqual 3 "B").
  • Siemroth, Christoph and Lars Hornuf (2023): Why Do Retail Investors Pick Green Investments? A Lab-in-the-Field Experiment with Crowdfunders, Journal of Economic Behavior & Organization. (Impact Factor 1.635 (2021), VHB-Jourqual 3 "A")  SSRN.

2022

  • Cumming, Douglas and Lars Hornuf (2022): Marketplace Lending of SMEs, Strategic Entrepreneurship Journal, 16(1): 32-66. (Impact Factor 9.289 (2020), VHB-Jourqual 3 "A", FT50 List Journal) Download.
  • Dorfleitner, Gregor, Lars Hornuf and Martina Weber (2022): Paralyzed by Shock: The Portfolio Formation Behavior of Peer-to-Business Lending Investors, Review of Managerial Science. (Impact Factor 7.127 (2020), VHB-Jourqual 3 "B") Download.
  • Eisenbeiss, Maik, Sven Hartmann and Lars Hornuf (2022): Social Media Marketing for Equity Crowdfunding: Which Posts Trigger Investment Decisions?, Finance Research Letters, 103370 (Impact Factor 9.848 (2021), VHB-Jourqual 3 "B") Download. 
  • Hornuf, Lars, Tobias Schilling and Armin Schwienbacher (2022): The Relevance of Investor Rights in Crowdinvesting, Journal of Corporate Finance,  77: 101927. (Impact Factor 4.249 (2020), VHB-Jourqual 3 "B"). Download.
  • Hornuf, Lars, Theresa Kück and Armin Schwienbacher (2022): Initial Coin Offerings, Information Disclosure, and Fraud, Small Business Economics, 58, 1741–1759. Download. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B").
  • Hornuf, Lars, Eliza Stenzhorn and Tim Vintis (2022): Are Sustainability-Oriented Investors Different? Evidence from Equity Crowdfunding, Journal of Technology Transfer, 47: 1662–1689 (Impact Factor 5.783 (2020), VHB-Jourqual 3 "B") Download.
  • Hornuf, Lars, Matthias Schmitt and Eliza Stenzhorn (2022): The Local Bias in Equity Crowdfunding: Behavioral Anomaly or Rational Preference?, Journal of Economics and Management Strategy, 31(3): 693-733. (Impact Factor 1.871 (2020), VHB-Jourqual 3 "A")  Download.
  • Hornuf, Lars and Daniel Vrankar (2022): Hourly Wages in Crowdworking: A Meta-Analysis, Business & Information Systems Engineering, 64: 553–573 (Impact Factor 4.532 (2020), VHB-Jourqual 3 "B") Download.

2021

  • Block, Jörn, Alexander Groh, Lars Hornuf, Tom Vanacker and Silvio Vismara (2021): The Entrepreneurial Finance Markets of the Future:  A Comparison of Crowdfunding and Initial Coin Offerings, Small Business Economics, 57: 865–882. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B"). Download. 
  • Cumming, Douglas, Lars Hornuf, Moein Karami and Denis Schweizer (2021): Disentangling Crowdfunding from Fraudfunding, Journal of Business Ethics, https://doi.org/10.1007/s10551-021-04942-w. (Impact Factor 6.430 (2020), VHB-Jourqual 3 "B", FT50 List Journal)  Download.
  • Hornuf, Lars, Todor Lohwasser, Milan Klus and Armin Schwienbacher (2021): How Do Banks Interact with Fintechs?, Small Business Economics, 57: 1505–1526. Download. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B").
  • Göthner, Maximilian, Lars Hornuf and Tobias Regner (2021): Protecting Investors in Equity Crowdfunding: An Empirical Analysis of the Small Investor Protection Act, Technological Forecasting and Social Change, 162: 120352. (Impact Factor 8.593 (2020), VHB-Jourqual 3 "B"). Download.

2020

  • Dorfleitner, Gregor, Lars Hornuf and Lena Wannenmacher (2020): Der deutsche FinTech-Markt im Jahr 2020, ifo Schnelldienst, 8/2020: 33-40. Download.
  • Brandl, Barbara and Lars Hornuf (2020): Where Did FinTechs Come from, and Where Do They Go? The Transformation of the Financial Industry in Germany after Digitalization, Frontiers in Artificial Intelligence (Artificial Intelligence in Finance). Download. 

2019

  • Ariely, Dan, Ximena Garcia-Rada, Katrin Gödker, Lars Hornuf and Heather Mann (2019): The Impact of Two Different Economic Systems on Dishonesty, European Journal of Political Economy, 59: 179-195. (Impact Factor 2.366 (2020)). Download. 
  • Haddad, Christian and Lars Hornuf (2019): The Emergence of the Global Fintech Market: Economic and Technological Determinants, Small Business Economics, 53(1): 81-105. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B"). Download.
  • Hainz, Christa, Lars Hornuf, Lisa Nagel, Sarah Reiter and Eliza Stenzhorn (2019): Die Befreiungsvorschriften des Kleinanlegerschutzgesetzes: Eine Follow-up-Studie, ifo Schnelldienst, 9/2019: 26–37. Download.
  • Hainz, Christa, Lars Hornuf, Lisa Nagel, Sarah Reiter and Eliza Stenzhorn (2019): Exemption Provisions of the German Small Investor Protection Act: A Follow-up Study, CESifo DICE Report, 17(2): 41-51. Download.
  • Hornuf, Lars, Abdul Mohamed and Armin Schwienbacher (2019): The Economic Impact of Forming a European Company, Journal of Common Market Studies, 57(4): 659-674. Download. (Impact Factor 3.99 (2020)).
  • Hornuf, Lars and Lars Klöhn (2019): Do judges hate speculations? European Journal of Law and Economics, 47(2): 147-169. (Impact Factor 1.108 (2020), VHB-Jourqual 3 "C"). Download. 
  • Hornuf, Lars (2019): Libra: Eine Währung, die die Welt (nicht) braucht?, ifo Schnelldienst, 17/2019, 9-12. Download.

2018

  • Block, Jörn, Lars Hornuf and Alexandra Moritz (2018): Which Updates During an Equity Crowdfunding Campaign Increase Crowd Participation?, Small Business Economics, 50(1): 3-27. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B"). Download. 
  • Dorfleitner, Gregor, Lars Hornuf and Martina Weber (2018): Dynamics of Investor Communication in Equity Crowdfunding, Electronic Markets, 28(4): 523-540. (Impact Factor 6.017 (2021), VHB-Jourqual 3 "B"). Download. 
  • Engert, Andreas and Lars Hornuf (2018): Market Standards in Financial Contracting: The Euro’s Effect on Debt Securities, Journal of International Money and Finance, 85: 145-162. (Impact Factor 2.731 (2020), VHB-Jourqual 3 "B"). Download.
  • Hornuf, Lars and Armin Schwienbacher (2018): Internet-Based Entrepreneurial Finance: Lessons from Germany, California Management Review, 60(2): 150-175. (Impact Factor 8.836 (2020), VHB-Jourqual 3 "B"). Download.
  • Hornuf, Lars and Armin Schwienbacher (2018): Market Mechanisms and Funding Dynamics in Equity Crowdfunding, Journal of Corporate Finance, 50: 556-574. (Impact Factor 4.249 (2020), VHB-Jourqual 3 "B"). Download.
  • Hornuf, Lars, Lars Klöhn and Tobias Schilling (2018): Financial Contracting in Crowdinvesting - Lessons from the German Market, German Law Journal, 19(3): 509-578. Download.
  • Hornuf, Lars, Matthias Schmitt and Eliza Stenzhorn (2018): Equity Crowdfunding in Germany and the UK: Follow-Up Funding and Firm Failure, Corporate Governance: An International Review, 26(5): 331-354. (Impact Factor 3.396 (2020), VHB-Jourqual 3 "C"). Download.

2017

  • Hainz, Christa, Lars Hornuf, Lars Klöhn, Björn Brauer, Felix Ehrenfried and Gerrit Engelmann (2017): Exemptions Featured in the 2015 German Small Investor Protection Act, CESifo DICE Report,15(3): 35-42. Download.
  • Hainz, Christa, Lars Hornuf, Lars Klöhn, Björn Brauer, Felix Ehrenfried and Gerrit Engelmann (2017): Die Befreiungsvorschriften des Kleinanlegerschutzgesetzes, ifo Schnelldienst, 6/2017: 26-35. Download.
  • Hornuf, Lars and Armin Schwienbacher (2017): Should Securities Regulation Promote Equity Crowdfunding, Small Business Economics, 49(3): 579-593. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B"). Download. 
  • Hornuf, Lars and Matthias Neuenkirch (2017): Pricing Shares in Equity Crowdfunding, Small Business Economics, 48(4): 795-811. (Impact Factor 8.164 (2020), VHB-Jourqual 3 "B"). Download. 

2016

  • Hainz, Christa and Lars Hornuf (2016): Crowdinvesting, CESifo DICE Report, 14(1), 67-69. Download.
  • Hornuf, Lars and Matthias Schmitt (2016): Success and Failure in Equity Crowdfunding, CESifo DICE Report, 14(2), 16-22. Download.
  • Klöhn, Lars, Lars Hornuf and Tobias Schilling (2016): Crowdinvesting-Verträge - Inhalt, Entwicklung und praktische Bedeutung, Zeitschrift für Bankrecht und Bankwirtschaft, 27(3): 142-178. Download.
  • Klöhn, Lars, Lars Hornuf and Tobias Schilling (2016): The Regulation of Crowdfunding in the German Small Investor Protection Act: Content, Consequences, Critique, Suggestions, European Company Law, 13(2): 56-66. Reprint in: Rivista del Diritto Societario, 4/2015: 767-788. Download.
  • Mann, Heather, Ximena Garcia-Rada, Lars Hornuf, Juan Tafurt and Dan Ariely(2016): Cut from the Same Cloth: Similarly Dishonest Individuals Across Countries, Journal of Cross-Cultural Psychology, 47(6): 858-874. (Impact Factor 2.618 (2020)). Download.
  • Mann, Heather, Ximena Garcia-Rada, Lars Hornuf and Juan Tafurt (2016): What Deters Crime? Comparing the Effectiveness of Legal, Social, and Internal Sanctions Across Countries, Frontiers in Psychology (Cognitive Science), 7(85): doi: 10.3389/fpsyg.2016.00085. (Impact Factor 2.323 (2019)). Download.

2015

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2015): Where Do Firms Issue Debt? An Empirical Analysis of Issuer Location and Regulatory Competition in the European Corporate Debt Market, International Review of Law and Economics, 41: 103-115. (Impact Factor 0.928
    (2020), VHB-Jourqual 3 "B"). Download. 
  • Hornuf, Lars, Markus Reps and Stefan Schäferling (2015): Covenants in European Investment-Grade Corporate Bonds, Capital Markets Law Journal, 10(3): 345-361. Download.
  • Hornuf, Lars and Stefan Voigt (2015): Analyzing Preliminary References as the Powerbase of the European Court of Justice, European Journal of Law and Economics, 39(2): 287-311. (Impact Factor 1.108 (2020), VHB-Jourqual 3 "C"). Download.
  • Klöhn, Lars and Lars Hornuf (2015): Die Regelung des Crowdfunding im Regierungsentwurf des Kleinanlegerschutzgesetzes: Inhalt, Auswirkungen, Kritik, Änderungsvorschläge, Der Betrieb, 68(1): 47-53. 
  • Tzur Bitan, Dana, Maria Christina Müller, Shlomit Keren, Israel Krieger, Lars Hornuf (2015): War Within, War Outside: A Psychoanalytic Account of Delusional Themes in Germany and Israel During the Twentieth Century, Journal of the American Psychoanalytic Association, 63(1): NP1-NP7. Download.
  • Hornuf, Lars (2015): Barbara Gabor: Regulatory Competition in the Internal Market: Comparing Models for Corporate Law, Securities Law and Competition Law, European Journal of Law and Economics, 40(1): 179-182. (Impact Factor 1.108 (2020), VHB-Jourqual 3 "C"). Download. 

2014

  • Hornuf, Lars and Georg Haas (2014): Regulating Fraud in Financial Markets: Can Behavioural Designs Prevent Future Criminal Offences?, Journal of Risk Management in Financial Institutions, 7(2): 192-201. Reprint in: European Business Law Review, 28(1): 41-54.

2013

  • Braun, Reiner, Horst Eidenmüller, Andreas Engert and Lars Hornuf (2013): Does Charter Competition Foster Entrepreneurship? A Difference-in-Difference Approach to European Company Law Reforms, Journal of Common Market Studies, 51(3): 399-415. (Impact Factor 3.99 (2020)). Download.
  • Braun, Reiner, Horst Eidenmüller, Andreas Engert and Lars Hornuf (2013): Unternehmensgründungen unter dem Einfluss des Wettbewerbs der Gesellschaftsrechte, Zeitschrift für das gesamte Handelsrecht und Wirtschaftsrecht, 177(1): 131-148. Download.
  • Engert, Andreas and Lars Hornuf (2013): Market Standards in Public Sector Debt Contracting, CESifo DICE Report, 11(3):16-20. Download.
  • Hornuf, Lars, Markus Reps and Stefan Schäferling (2013): Covenants in europäischen Investment-grade-Unternehmensanleihen, Zeitschrift für Bankrecht und Bankwirtschaft, 26(3): 202-210. Download.

2012

  • Eidenmüller, Horst, Lars Hornuf and Markus Reps (2012): Contracting Employee Involvement: An Analysis of Bargaining over Employee Involvement Rules for a Societas Europaea, Journal of Corporate Law Studies, 12(2): 201-235. Download.
  • Engel, Martin and Lars Hornuf (2012): Mediation als Verbraucherschutz – oder Verbraucherschutz vor Mediation?”, Neue Zeitschrift für Schiedsverfahren, 10(1): 26-32. Download.
  • Klöhn, Lars and Lars Hornuf (2012): Crowdinvesting in Deutschland – Markt, Rechtslage und Regulierungsperspektiven, Zeitschrift für Bankrecht und Bankwirtschaft, 24(4): 237-266. Download.

2011

  • Engel, Martin and Lars Hornuf (2011): Vexierbild Richtermediation – Eine Studie zur Wahrnehmung verschiedener Mediationsformen in Deutschland, Zeitschrift für Zivilprozess, 4: 505-518.
  • Engel, Martin and Lars Hornuf (2011): Das deutsche Glücksspielmonopol – Eine ordnungspolitische und rechtsökonomische Analyse, Zeitschrift für Wirtschaftspolitik, 60(1): 86-109. Download.
  • Hornuf, Lars and Ulrich Zanconato (2011): Material Adverse Change Klauseln in deutschen Übernahmeangeboten: Eine rechtstatsächliche Untersuchung, Zeitschrift für Bankrecht und Bankwirtschaft, 5: 412-416.

2010

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2010): How Does the Market React to the Societas Europaea?, European Business Organization Law Review, 11(1): 35-50. Download.

2009

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2009): Incorporating Under European Law: The Societas Europaea as a Vehicle for Legal Arbitrage, European Business Organization Law Review, 10(1): 1-33. Download.
  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2009): Vom Wert der Wahlfreiheit: Eine empirische Analyse der Societas Europaea als Rechtsformalternative, Die Aktiengesellschaft, 54(23): 845-855.

2008

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2008): Die Societas Europaea: Empirische Bestandsaufnahme und Entwicklungslinien einer neuen Rechtsform, Die Aktiengesellschaft, 53(20): S. 721-730.

2007

  • Gluch, Erich and Lars Hornuf (2007): Europäischer Nichtwohnhochbau weiterhin auf Wachstumskurs, ifo Schnelldienst, 60(5): 31-36. Download.
  • Gluch, Erich and Lars Hornuf (2007): Auswirkungen der Globalisierung auf die Bauwirtschaft, ifo Schnelldienst, 60(3): 41-49. Download.

2022

  • Hornuf, Lars and Sonja Mangold (2022): Dark Digital Nudges, in: Lars Hornuf (Hrsg.): Diginomics Research Perspectives: The Role of Digitalization in Business and Society, Cham.

2021

  • Dorfleitner, Gregor and Lars Hornuf (2021): Der deutsche FinTech-Markt, in: Thorsten Voß (eds.): Recht der FinTechs, Berlin. Link to the Book.
  • Dorfleitner, Gregor and Lars Hornuf (2021): Allgemeiner Marktüberblick, in: Florian Möslein und Sebastian Omlor (eds.): FinTech Handbuch, 2nd edition, Munich.

2019

  • Dorfleitner, Gregor, Lars Hornuf, Matthias Schmitt and Martina Weber (2019): Marktüberblick, in: Florian Möslein and Sebastian Omlor (eds.): FinTech Handbuch, Munich. Link to the Book.
  • Gödker, Katrin and Lars Hornuf (2019): Regulatory Competition, in: Alain Marciano and Giovanni Battista Ramello (eds.): Encyclopedia of Law and Economics, New York. Link to the Book.

2018

  • Braun, Susanne and Lars Hornuf (2018): Authentic leadership and followers’ cheating behavior – A laboratory experiment from a self-concept maintenance perspective, in: Dorianne Cotter-Lockard (eds.): Authentic Leadership and Followership: International Perspectives, Palgrave Macmillan: 215-244. Link to the Book.

2016

  • Hornuf, Lars and Armin Schwienbacher (2016): Crowdinvesting – Angel Investing for the Masses?, in: Colin Mason and Hans Landström (eds.):Handbook of Research on Venture Capital, Vol. 3, Cheltenham: 381-397.
  • Hornuf, Lars and Julia Lindner (2016): The End of Regulatory Competition in European Corporate Law?, in: E. Bos et al. (eds.): Wettbewerb der Gesellschaftsrechtsordnungen in Ostmitteleuropa?, Baden-Baden: 117-138. Link to the Book.

2015

  • Hornuf, Lars (2015): Equity Premium Puzzle, in: Morris Altman (eds.): Real World Decision Making: An Encyclopedia of Behavioral Economics, Santa Barbara: 123-124. Link to the Book.

2013

  • Eidenmüller, Horst, Lars Hornuf and Markus Reps (2013): Contracting Employee Involvement: An Analysis of Bargaining over Employee Involvement Rules for a Societas Europaea, in: Horst Eidenmüller (eds.): Regulatory Competition in Contract Law and Dispute Resolution, Munich: 155-186. Link to the Book.
  • Hornuf, Lars (2013): Comment on Theodore Eisenberg and Geoffrey Miller: The English vs. the American Rule on Who Pays Attorney fees: An Empirical Study of Publicly-Held Companies’ Contracts, in: Horst Eidenmüller (eds.): Regulatory Competition in Contract Law and Dispute Resolution, Munich: 497-498. Link to the Book.

2011

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2011): Europäischer Rechtswettbewerb bei der Wahl des Emissionsstandorts für Schuldtitel. Eine empirische Analyse, in: Peter Behrens, Thomas Eger und Hans-Bernd Schäfer (eds.): Ökonomische Analyse des Europarechts – Beiträge zum XII. Travemünder Symposium zur ökonomischen Analyse des Rechts, Tübingen: 233-274. Link to the Book.

2010

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2010): How Does the Market React to the Societas Europaea?, in: Ulf Bernitz and Wolf-Georg Ringe (eds.): Company Law and Economic Protectionism – New Challenges for European Integration, Oxford: 134-148. Link to the Book.

2009

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2009): Incorporating Under European Law: The Societas Europaea as a Vehicle for Legal Arbitrage, in: Alessio M. Pacces (eds.): The Law and Economics of Corporate Governance, Cheltenham: 82-116. Link to the Book.

Work in Progress

  • Dombrowski, Niklas, Wolfgang Drobetz, Lars Hornuf and Paul Momtaz (2022): The Operating Performance of Blockchain-based Crowdfunding Projects. Prepared for Entrepreneurship Theory and Practice.
  • Hornuf, Lars und Lisa Nagel (2022): Revealed Preferences of Online Workers. Prepared for Applied Psychology.

2023

  • Bao, Yongpin, Ludwig Danwitz, Fabian Dvorak, Sebastian Fehrler, Lars Hornuf, Hsuan Yu Lin, and Bettina von Helversen (2023): Similarity and Consistency in Algorithm-Guided Exploration, CESifo Working Paper Series. Under Review: Management Science.
  • Hornuf, Lars, Paul Momtaz, and Rachel Nam (2023): Cybercrimes on the Ethereum Blockchain, mimeo. Prepared for Management Science.

2021

  • Behrmann, Vanessa, Lars Hornuf and Jochen Zimmermann (2021): Disclosure Deregulation of Quarterly Reportings, CESifo Working Paper Series No. 9344. SSRN.
  • Ciotti, Fabrizio, Lars Hornuf and Eliza Stenzhorn (2021): Lock-In Effects in Online Labor Markets,CESifo Working Paper Series No. 9379. SSRN.

2020

  • Hornuf, Lars and Christian Fieberg (2020): Are Characteristics Covariances or Characteristics?, CESifo Working Paper Series No. 8377. SSRN.

2021

  • Ciotti, Fabrizio, Hornuf Lars, Stenzhorn Eliza (2021): Lock-In Effects in Online Labor Markets, Machine Lawyering. Link.
  • Behrmann, Vanessa, Hornuf Lars, Zimmermann Jochen (2021): Disclosure Deregulation of Quarterly Reporting, Machine Lawyering. Link.
  • Behrmann, Vanessa, Hornuf Lars, Zimmermann Jochen (2021): Disclosure Deregulation of Quarterly Reporting, Oxford Business Law Blog. Link.
  • Dorfleitner, Gregor , Hornuf Lars , Kreppmeier Julia (2021): Promise Not Fulfilled: FinTech, Data Privacy, and the GDPR, Machine Lawyering. Link.
  • Dorfleitner, Gregor , Hornuf Lars , Kreppmeier Julia (2021): Promise Not Fulfilled: FinTech, Data Privacy, and the GDPR, Oxford Business Law Blog. Link.
  • Siemroth, Christoph, Hornuf Lars (2021): Do crowdfunding investors value environmental impact?, Machine Lawyering. Link.
  • Siemroth, Christoph, Hornuf Lars (2021): Do retail investors value environmental impact?, Oxford Business Law Blog. Link.
  • Hornuf, Lars (2021): Ist FinTech systemrelevant? Ökonomenstimme. Link.

2020

  • Hornuf, Lars, Tobias Schilling and Armin Schwienbacher (2020): The Relevance of Investor Rights in Equity Crowdfunding, Machine Lawyering. Link.
  • Hornuf, Lars, Tobias Schilling and Armin Schwienbacher  (2020): The Relevance of Investor Rights in Equity Crowdfunding, Oxford Business Law Blog. Link
  • Hornuf, Lars, Todor Lohwasser, Milan Klus and Armin Schwienbacher (2020): How Do Banks Interact with Fintechs? Forms of Alliances and Their Impact on Bank Value, Machine Lawyering. Link.
  • Dorfleitner, Gregor and Lars Hornuf (2020): FinTech and Data Privacy in Germany, Oxford Business Law Blog. Link.
  • Hornuf, Lars and Gregor Dorfleitner (2020): FinTech and Data Privacy in Germany, Machine Lawyering. Link.
  • Hornuf, Lars, Theresa Kück and Armin Schwienbacher (2020): Initial Coin Offerings, Information Disclosure, and Fraud, Oxford Business Law Blog. Link.

2017

  • Hornuf, Lars and Christian Haddad (2017): The Emergence of the Global Fintech Market: Economic and Technological Determinants, Oxford Business Law Blog. Link.

2016

  • Klöhn, Lars, Lars Hornuf and Tobias Schilling (2016): Financial Contracting in Crowdinvesting: Lessons from the German Market, Oxford Business Law Blog. Link.
  • Hornuf, Lars, Abdul Mohamed and Armin Schwienbacher (2016): The Economic Impact of Forming a European Company, Oxford Business Law Blog. Link.

2014

  • Hornuf, Lars (2014): Braucht Deutschland ein Crowdinvesting Gesetz?, VentureCapital Magazin, 4: 58-59.
  • Klöhn, Lars and Lars Hornuf (2014): Ein sicherer Rechtrahmen für das Crowdinvesting, Der Betrieb, 67(14): 1.
  • Hornuf, Lars (2014): Bleibt Deutschland Spitzenreiter bei der internetbasierten Finanzierung von Start-up-Unternehmen? in: iRights.Lab and Philipp Otto (eds.): Das Netz – Jahresrückblick Netzpolitik 2014-2015, Berlin: 96-97.
  • Hornuf, Lars (2014): Warum Deutschland (k)ein Crowdinvesting-Gesetz braucht, guest contribution MUCrowd-Blog.

2013

  • Hornuf, Lars and Lars Klöhn (2013): Crowdinvesting und Portfoliodiversifizierung – Eine rechtsökonomische Analyse, VentureCapital Magazin, 2: 34-35.

2009

  • Eidenmüller, Horst, Andreas Engert and Lars Hornuf (2009): Warum unterstellen sich Unternehmen europäischem Recht? Ein erster empirischer Befund, Finanzplatz-Report, 5: 20-21.

2008

  • Hornuf, Lars and Günter Britschkat (2008): Studie über die Auswirkungen des Glücksspielstaatsvertrages zum Lotterie- und Sportwettmarkt auf die deutsche Volkswirtschaft, expert opinion for the MKW Wirtschaftsforschung GmbH.

Presentations

2022

Hanse Institute for Advanced Study • Interdisciplinary workshop of the project group AI & Finance - Innovation, Resilience and Responsibility of the Center for Responsible Digitization (ZEVEDI) (Goethe University Frankfurt) • International Conference for Crowdfunding Research (University of Agder's School of Business and Law) Keynote Speech • FIRM Research Conference • BaFin-Tech 2022 • 2. Magnus Symposium On the Nature of Information (DPG Magnus House) • RegulationResearch Workshop (University of Regensburg) • Research Seminar European New School of Digital Studies (European University Viadrina)

2021

Fintech and its Impact on Central Banking (Deutsche Bundesbank) • European Privacy, InfoSec & Compliance Summit (EPIC) Summit • Virtual Workshop on AI & FINANCE (Goethe University Frankfurt) • Finanzbranche im Umbruch – wie die Digitalisierung die Finanzwelt verändert (WK Café WESER-Strand) • Finance Seminar (Skema Business School Paris) • Sustainable Finance Research Seminar (University of Zurich) • FinTech and cryptofinance Webinar (Sorbonne Université) • Ringvorlesung Universelle Eigenschaften des Entscheidens (Univesität Bremen) • ITM (Information Technology Management) Distinguished Speaker Series (Scheller College of Business - Georgia Tech) • Data Science Forum (Univesität Bremen) • Field Day in Field Experients (Univesität Bremen) • Economics Lunchtime Seminar (University of Regensburg) • Finance Research Seminar (TU München)

2020

Empirical Research in Corporate and Financial Law (European University Institute Florence) • Center for Advanced Management Studies (LMU Munich) • Autumn Meeting Frankfurt Institute for Risk Management and Regulation (FIRM) (House of Finance, Goethe University) • AI in Finance: privacy and Data Protection Sectoral Dialogue (Singapore Management University) • Danish Finance Institute Seminar (University of Southern Denmark) • Finance, Accounting und Insurance (FIA) Seminar (University of Hamburg) • Determinants of Non-cash Transactions Conference (Hochschule Bremen) • Digitalization of Financial Services (Federal Association of Consumers) • Virtual Money Conference - Virtual Crime Scenes (Society for Security Policy Bremen) (rescheduled) • Conference on Fintech Startups and Incumbent Players:  Policy Challenges and Opportunities (University of Oxford)

2019

Law, Finance, and Technology Seminar (University of Hamburg) • Networking by, for and with Alumni (University of Bremen) • Bündnis 90/Die Grünen • Finance Seminar (Bremen University of Applied Sciences) • Seminar-Talk (Nijmegen School of Management, Radboud University) • Conference Don’t Be Afraid of the German Angst (Hamburg FinTech Week) • 2nd FinTech Meetup (Strascheg Center for Entrepreneurship at the Munich University of Applied Science) Keynote Speech • Diginomics Lunchtime Seminar (University of Bremen) • Expert Panel - FinTechs and Their Impact on Central Banking (German Central Bank) • Ringvorlesung (University of Paderborn) • MACIE-Seminar (University of Marburg) • Conference on Fintech & Digital Finance (SKEMA Business School – Nice Campus) • Seminar - Banken aktuell (Federal Association of Consumers) • Workshop Fintech Adoption and Economic Behavior: Where Do We Stand? (LaRGE Research Center, University of Strasbourg) Keynote Speech • Brownbag Seminar (Free University of Bozen) • Finance Research Seminar (University of St. Gallen) • FinTech Law – Legal Issues Relating to Regulation, Transactions, and Investment Products (WM Praxisforum) • EBI Global Annual Conference on Banking Regulation (Goethe University, European Stability Mechanism (ESM) and Institute for Monetary and Financial Stability (IMFS)) • Neujahrsempfang der Unifreunde (Bremen City Hall)

2018

Research Seminar (Kyung Hee University Seoul) • Research Seminar (Shanghai University) • Regulatory meets FinTech (WM Seminar) • 1st International FinTech, InsurTech & Blockchain Forum (University of Zurich) Best Paper Award • ABIDA-Expert Conference (Federal Ministry of Education and Research) • 4th Luxembourg FinTech Conference (The University of Luxembourg, Banque Internationale à Luxembourg (BIL) and the Luxembourg House of Financial Technology (LHoFT)) • Münchner Seminare (ifo Institut) • Research Workshop (IAAEU, University of Trier) • Opening of the Zentrum für das Recht der Digitalisierung (University of Marburg) • 2nd Workshop on Financial Literacy and Entrepreneurship (Lyon Business School – Paris Campus) • Workshop Developments in Entrepreneurial Finance: Crowdfunding, Blockchain, and ICOs (Lyon Business School – Lyon Campus) • Conference on Recent Developments in Crowdfunding (University of Essex) • University of Bremen, Inaugural Lecture • Hamburg Lecture in Law and Economics (University of Hamburg) • FinTech Workshop (University of Muenster) • Meeting ESCB Monitoring Working Group (European Central Bank) • International Central Banking Course: Digital Financial Innovations (German Central Bank) • Brownbag Seminar (Zeppelin University)

2017

Panel Discussion Electronic Payment – Opportunities and Risks for Consumers (Federal Association of Consumers) • Conference The Future of Banking (Forum Digital – VR-NetWorld) • Panel Discussion, The New Payment Services Directive (RWS Forum PSD II) • 15th Meeting of the Central Banks and Monetary Authorities of the Organization of Islamic Cooperation (OIC) Member Countries (Muğla Turkey) • 7th Alvara Innovation Days Keynote Speech • SKEMA Conference (Skema Business School – Nice Campus) • Business Law Workshop (Oxford University) • FinMeetsTech Keynote Speech • Digitising Finance, Financial Inclusion and Financial Literacy (G20-Conference)

2016

Bitkom hub conference (STATION Berlin) • Goethe/Penn Conference on Law and Finance (Goethe University Frankfurt) • Digital Finance Berlin Konferenz (Berlin School of Digital Business) Keynote Speech • Panel Discussion 11th International Conference on Financial Services (iff Institute for Financial Services) • Gelsenkirchen Economic Congress Opportunities for a Green Economy (Diskussionsforum KMU/Gründungen Gelsenkirchen)

2015

Conference Corporate Acquisitions and Access to Entrepreneurial Financing in the Post-Accession Era (Jean Monnet Inter-University Centre of Excellence Opatija) • Research Workshop (Max Planck Institute for Innovation and Competition) • Research Workshop (John Molson School of Business, Concordia University) • Panel Discussion Munich, Finance Technology Transaction Conference • Conference on Finance, Ethics and Society (University of Oslo) • Law and Economics Forum (London School of Economics and Political Science) • Research Workshop (Center for Advanced Studies in Law and Economics, University of Bonn) • Moderation Moral Psychology, Jurisprudence, and Human Rights (Center for Advanced Studies, LMU Munich)

2014

MACIE-Seminar (University of Marburg) • The 3rd Peking-Stanford-Oxford University Internet Law and Public Policy Conference (Peking University) • Research Workshop (Center for Advanced Hindsight, Duke University) • Finance Group Research Seminar (Skema Business School – Lille Campus)

2013

LawEcon Workshop (Max Planck Institute for Collective Goods) • Research Workshop (IAAEU, University of Trier) • CESifo Group Seminar (LMU Munich) • Public Economics Seminar (LMU Munich)

2012

Guest Lecture (RWTH Aachen) • Technology and Innovation Management Seminar (RWTH Aachen) • Research Seminar (House of Finance, Goethe University Frankfurt) • Law and Business Workshop (Vanderbilt University) • Workshop Privatrecht (LMU Munich) • 15th Mediation Congress (LMU Munich)

2011

Law & Finance Seminar Series (University of Oxford)

2010

Law and Economics Workshop (University of California, Berkeley) • Public Economics Seminar (LMU Munich)

2009

Empirical Economics Research Workshop (LMU Munich)

2022

4th International Conference on the World Economy in the Great Changes 2022 (Shanghai University) • 3rd CEFGroup Climate Finance (University of Otago Business School) • Causal Data Science Meeting 2022 • 6th European Alternative Finance Research Conference (Utrecht University) • 3rd Machine Lawyering Conference (Chinese University of Hong Kong)

2021

2nd CEFGroup Climate Finance Symposium (University of Otago Business School) • 2021 CESifo Area Conference on Economics of Digitization (LMU Munich) • IFABS Conference (Oxford University) • European Alternative Finance Research Conference (Utrecht University) 

2020

Social Impact Investments International Conference • CESifo Area Conference on Economics of Digitization • 4th European Alternative Finance Research Conference • 2020 Annual Meeting of American Economic Association (UC San Diego) (acceptance but represented by coauthor Sven Hartmann)

2019

26th Annual Meeting of German Finance Association (University of Duisburg-Essen)

2017

Annual Meeting of the Vereins für Socialpolitik (University of Vienna) • European Economic Association (University of Lisbon) (2 presentations) • World Finance Conference (Cagliari University) (3 presentations) • 2nd Entrepreneurial Finance Conference (Vlerick Business School) • 5th Workshop Household Finance and Consumption (Banque Centrale du Luxembourg) • VHB-Jahrestagung 2017 (University of St.Gallen) (2 presentations) • Munich Summer Institute 2017 (Bavarian Academy of Science) • Annual Meeting of the American Law and Economics Association (Yale Law School) • Royal Economic Society Conference (University of Bristol)

2016

Conference on Subjective Survey Data in Labour Market Research (IAAEU, University of Trier) • Munich Summer Institute 2016 (Bavarian Academy of Science) • 3rd International ZEW Conference on the Dynamics of Entrepreneurship (Centre for European Economic Research) • Conference on Past and Future of Corporate Governance: Practices, Reforms and Regulations (Roma Tre University) • Conference What does Co-determination do? What can we learn from research? (Wissenschaftszentrum Berlin für Sozialforschung) • 8th Economic Workshop (IAAEU, University of Trier) (2 presentations) • Workshop on the Autonomy at Work and Employee Involvement: Causes and Consequences (Institute for Employment Research (IAB))

2015

3rd Crowdinvesting Symposium (LMU Munich) • Workshop on Experimental Labour and Personnel Economics (IAAEU, University of Trier) • Annual Meeting of the Verein für Socialpolitik (University of Münster) • Annual Meeting of the European Finance Association (WU Vienna University of Economics and Business) • Annual Meeting of the European Financial Management Association (Nyenrode Business University) • Workshop on the Economics of Entrepreneurship and Innovation (University of Trier) (2 presentations) • Annual Meeting of the American Law and Economics Association (Columbia Law School) • 7th Economic Workshop (IAAEU, University of Trier)

2014

Centre for European Economic Research, Mannheim-ZEW Conference on Financial Regulation and Competition (Centre for European Economic Research) • 31th Annual Meeting of the European Association of Law and Economics (Aix-Marseille Université) • 2nd Crowdinvesting Symposium (LMU Munich) (2 presentations) • Conference Wettbewerb der Gesellschaftsrechtsordnungen in Ostmitteleuropa? (Andrássy University Budapest)

2013

20th Annual Meeting of the German Finance Association (University of Wuppertal) • Annual Meeting of the Verein für Socialpolitik (University of Düsseldorf) • Summer Institute on Bounded Rationality (Max-Planck-Institute for Human Development) • Annual Conference of the Mannheim Centre for Competition and Innovation (MaCCI) (Centre for European Economic Research) • 1st Crowdinvesting Symposium (LMU Munich)

2012

22nd Annual Meeting of the American Law and Economics Association (Stanford University)

2011

9th Annual Conference of the German Law & Economics Association (University of Bonn) • Konfliktmanagement-Kongress 2011 (Ministry of Justice Lower Saxony) • 28th Annual Conference of the European Law & Economics Association (University of Hamburg) (2 presentations)

2010

6th Annual Conference of the Italian Law & Economics Society (Libera Universita di Bolzano) • 8th Annual Conference of the German Law & Economics Association (European Business School) • Presentation Summer School (Goethe University Frankfurt, Center for Financial Studies / Program in Law and Economics of Money and Finance) • XII. Travemünder Symposium zur ökonomischen Analyse des Rechts (University of Hamburg)

2009

7th Annual Conference of the German Law & Economics Association (University of Trier)

2008

6th Annual Conference of the German Law & Economics Association (University of Innsbruck)

2006

Dow Jones Newswires Workshop (Frankfurt Stock Exchange)

Reviewing

Research Grant Institutions

Prize Committee Distinguished CESifo Affiliate Award CESifo Area Conference on the Economics of Digitization

German Council of Science and Humanities (WR)

German Research Foundation (DFG)

Belgian Fund for Scientific Research (F.R.S. – FNRS)

UK Research and Innovation (UKRI) / Future Leaders Fellowship Scheme

Luxembourg National Research Fund (FNR)

Swiss National Science Foundation

The German Israeli Foundation for Scientific Research and Development (GIF)

European Science Foundation (ESF)

Research Foundation Flanders

 

Journals

British Journal of Management

Business Research

California Management Review

Corporate Governance: An International Review

DIW Vierteljahrshefte zur Wirtschaftsforschung

Economics Bulletin

Electronic Markets

Energy Economics

Entrepreneurship Theory and Practice

Eurasian Business Review

European Business Organization Law Review

European Journal of Finance

European Journal of Law and Economics

European Journal of Political Economy

Financial Research Letters

International Journal of Information Management

Journal of Banking and Finance

Journal of Behavioral and Experimental Economics

Journal of Business Venturing

Journal of Corporate Finance

Journal of Economic Surveys

Journal of Economics & Management Strategy

Journal of Institutional Economics

Journal of Political Economy

Journal of Small Business Management

Nature Communications Earth & Environment 

Neurocomputing

Pacific-Basin Finance Journal

Quarterly Journal of Economic Research

Schmalenbach Journal of Business Research

Small Business Economics

Strategic Management Journal

Technological Forecasting and Social Change

Technovation

Telematics and Informatics

Venture Capital - An International Journal of Entrepreneurial Finance

 

Conferences

Annual Meeting German Economic Association 2021

International Conference on Information Systems 2021, 2020, 2019, 2018

Interdisziplinäre Jahreskonferenz zu Entrepreneurship, Innovation und Mittelstand (G-Forum) 2019, 2018, 2017, 2016, 2015

Associate Editor Pre-ICIS Workshop Changing Nature of Work (CNoW) 2019

"FinTech" Track European Conference on Information Systems 2018, 2017

2nd Abbé Grégoire Innovation Day

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