Numerous researchers from the Department were honored by the Rector's Office for their dedication and research achievements over the past year. The department's awarded achievements can be found below and in the brochure WU Awards 2022.

The WU Best Paper Award, established in 2000, is presented annually to the authors of outstanding academic contributions published in the previous calendar year. The WU Best Paper Award is funded by the WU Anniversary Fund of the City of Vienna and is presented in 4 categories.

Category 1: Quantitative-analytical or theoretical work

• Hanspal, Tobin, Weber, Annika, Wohlfart, Johannes, 2021, Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations. Review of Economics and Statistics.

Star Journal publications are articles by WU researchers published in outstanding international journals. These journals are listed in WU’s Star Journal List.

• Chaderina, Maria, Weiß, Patrick, Zechner, Josef, 2021, The Maturity Premium, Journal of Financial Economics.

• Friewald, Nils, Nagler, Florian, Wagner, Christian, 2021, Debt Refinancing and Equity Returns, Journal of Finance.

• Bischof, Jannis, Laux, Christian, Leuz, Christian, 2021, Accounting for Financial Stability: Bank Disclosure and Loss Recognition in the Financial Crisis, Journal of Financial Economics.

• Della Corte, Pasquale, Sarno, Lucio, Schmeling, Maik, Wagner, Christian, 2021, Exchange Rates and Sovereign Risk, Management Science (MS).

• Fiechter, Peter, Novotny-Farkas, Zoltán, Renders, Annelies, 2021, Are Level 3 Fair Value Remeasurements Useful? Evidence from ASC 820 Rollforward Disclosures, The Accounting Review.

The Excellent Teaching Award gives special weight to our students’ opinions, because they are the ones who propose faculty members for this award. After expiration of the nomination period, the students’ submissions are forwarded to a jury that selects the winners based on course syllabi, evaluation results, and the reasons given in the students’ proposals.

• Markus Patloch-Kofler

WU awards bonuses to its researchers for publications in internationally renowned journals and other outstanding academic achievements.

• Bühlmaier, Matthias, Zechner, Josef, 2020, Financial Media, Price Discovery, and Merger Arbitrage., Review of Finance. 25 (4), 997–1046.

• Feinstein, Zachary, Rudloff, Birgit, 2021, Scalar multivariate risk measures with a single eligible asset., Mathematics of Operations Research.

• Feinstein, Zachary, Rudloff, Birgit, 2021, Time consistency for scalar multivariate risk measures., Statistics and Risk Modeling.

• Feinstein, Zachary, Rudloff, Birgit, Zhang, Jianfeng, 2021, Dynamic Set Values for Nonzero Sum Games with Multiple Equilibriums., Mathematics of Operations Research.

• Fissler, Tobias, Ziegel, Johanna F, 2019, Supplement to “Erratum: Higher Order Elicitability and Osband’s Principle”

• Bu, Di, Hanspal, Tobin, Liao, Yin, Liu, Yong, 2020, Cultivating Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing., Journal of Financial and Quantitative Analysis (JFQA).

• Schwendinger, Florian, Grün, Bettina, Hornik, Kurt, 2021, A comparison of optimization solvers for log binomial regression including conic programming., Computational Statistics. 36 (3), 1721–1754.

• Fissler, Tobias, Frongillo, Rafael, Hlavinova, Jana, Rudloff, Birgit, 2021, Forecast evaluation of quantiles, prediction intervals, and other set-valued functionals., Electronic Journal of Statistics. 15 (1), 1034–1084.

• Kovacova, Gabriela, Rudloff, Birgit, 2021, Convex Projection and Convex Vector Optimization., Journal of Global Optimization.

• Weber, Rüdiger, 2021, Institutional Investors, Households and the Time-Variation in Expected Stock Returns., Journal of Financial and Quantitative Analysis (JFQA).

• Grün, Bettina, Hofmarcher, Paul, 2021, Identifying Groups of Determinants in Bayesian Model Averaging Using Dirichlet Process Clustering., Scandinavian Journal of Statistics. 48 (3), 1018–1045.

• Hummel, Katrin, Szekely, Manuel, 2021, Disclosure on the Sustainable Development Goals – Evidence from Europe., Accounting in Europe.

• Cejnek, Georg, Randl, Otto, Zechner, Josef, 2021, The COVID-19 Pandemic and Corporate Dividend Policy., Journal of Financial and Quantitative Analysis (JFQA).
  56 (7), 2389–2410.

• Heinrich-Mertsching, Claudio, Fissler, Tobias, 2021, Is the mode elicitable relative to unimodal distributions?, Biometrika.

• Petutschnig, Matthias, Rechbauer, Martina, Winkelbauer, Bernhard, 2021, Führt die Hinzurechnungsbesteuerung der ATAD zu einem Rückgang der Investitionen in Steueroasen?, Empirische Evidenz aus Österreich. BFuP – Betriebswirtschaftliche Forschung und Praxis. 73 (4), 385–411.

• Fissler, Tobias, Ziegel, Johanna F, 2021, On the elicitability of range value at risk., Statistics and Risk Modeling. 38 (1–2), 25–46.

• Hosszejni, Darjus, Kastner, Gregor, 2021, Modeling Univariate and Multivariate Stochastic Volatility in R with stochvol and factorstochvol., Journal of Statistical Software. 100 (12), 1–34.

• Knaus, Peter, Bitto-Nemling, Angela, Cadonna, Annalisa, Frühwirth-Schnatter, Sylvia, 2021, Shrinkage in the Time-Varying Parameter Model Framework Using the R Package shrinkTVP., Journal of Statistical Software. 100 (13)

• Hackethal, Andreas, Hanspal, Tobin, Lammer, Dominique, Rink, Kevin, 2021, The Characteristics and Portfolio Behavior of Bitcoin Investors: Evidence from Indirect Cryptocurrency Investments., Review of Finance.

• Colaneri, Katia, Frey, Rüdiger, 2021, Classical solutions of the backward PIDE for Markov modulated marked point processes and applications to CAT bonds., Insurance: Mathematics and Economics. 101 498–507.

• Frühwirth-Schnatter, Sylvia, Malsiner-Walli, Gertraud, Grün, Bettina, 2021, Generalized Mixtures of Finite Mixtures and Telescoping Sampling., Bayesian Analysis. 16 (4), 1279–1307.

• Vana Gür, Laura, Hornik, Kurt, 2021, Dynamic modelling of corporate credit ratings and defaults., Statistical Modelling.

• Jankowitsch, Rainer, Ottonello, Giorgio, Subrahmanyam, Marti, 2022, Regulation, Asset Complexity, and the Informativeness of Credit Ratings., Review of Corporate Finance Studies.

• Sablica, Lukas, Hornik, Kurt, 2021, On bounds for Kummer’s function ratio., Mathematics of Computation.
  
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• Sailer, Mariana, 2021, Who Cares About the Future? Short- and Long-Term Performance Measures and Their Impact on Firm Success., EAA Virtual Congress, online, Österreich, 26.05.–28.05.

• Amberger, Harald, Robinson, Leslie, 2021, The Effect of the U.S. Tax Reform on Foreign Acquisitions.
  EAA Annual Congress, Online Meeting, Rumänien, 26.05.–28.05.

• Els, Karoline, Bornemann, Tobias, Novotny-Farkas, Zoltán, 2021, Equity or Debt – How do Investors perceive Perpetual Corporate Hybrid Bonds?, EAA Virtual Annual Congress 2021, Brüssel, Belgien, 26.05.–28.05.

• Parlasca, Markus, 2021, Time Inconsistency in Stress Test Design., German Economic Association of Business Administration Young Scholars Conference, virtual, Deutschland, 17.09.

• Parlasca, Markus, 2021, Time Inconsistency in Stress Test Design. Annual Meeting of the German Finance Association, Innsbruck, Österreich, 30.09.–02.10.

• Mahlstedt, Robert, Weber, Rüdiger, 2021, Risk Sharing Within and Outside the Firm: The Disparate Effects of Employment Protection on Expected Stock Returns., DGF Annual Meeting, Innsbruck, Österreich, 01.10.–02.10.

• Jankowitsch, Rainer, Pauer, Florian, 2021, The Effect of Credit, Liquidity and Rollover Risk on Bondholder Wealth in Mergers and Acquisitions. Jahrestagung der deutschen Gesellschaft für Finanzwirtschaft, Innsbruck, Österreich, 01.10.–02.10.

• Jankowitsch, Rainer, Pauer, Florian, 2021, The Effect of Credit, Liquidity and Rollover Risk on Bondholder Wealth in Mergers and Acquisitions., 34th Australasian Finance & Banking Conference, Sydney, Australia, 15.12.–17.12.

• Hanspal, Tobin, 2021, Risk Taking, Preferences, and Beliefs: Evidence from Wuhan., SFS Cavalcade North America 2021, Virtual, United States/USA, 24.05.–27.05.

• Mahlstedt, Robert, Weber, Rüdiger, 2021, Risk Sharing Within and Outside the Firm: The Disparate Effects of Employment Protection on Expected Stock Returns., AFFI, Nantes, Frankreich, 26.05.–28.05.

• Bornemann, Tobias, Novotny-Farkas, Zoltán, Moosmann, Anna-Lena, 2021, The Consequences of Abandoning the Quarterly Reporting Mandate in the Prime Market Segment: Evidence from Austria., 16th workshop on European Financial Reporting (EUFIN), online, Vereinigtes Königreich von Großbrit. u. Nordirland, 02.09.–03.09. 

These research projects carried out by WU researchers have been awarded third-party funding after undergoing rigorous international peer review.

• Shrinking and Regularizing Finite Mixture Models
  Austrian Science Fund (FWF)
  Sylvia Frühwirth-Schnatter

• Vienna Graduate School of Finance – VGSF
  Austrian Science Fund (FWF)
  Rüdiger Frey, Rainer Jankowitsch, Christian Laux, Alexander Mürmann, Stefan Pichler, Christian Wagner, Josef Zechner

Congratulation!