Prof. Dr. Andreas Hackethal
Member of the Board
Andreas is a Professor of Finance at Goethe University in Frankfurt. He joined Goethe’s Faculty of Economics and Business Administration in 2008. He served as Dean from 2011 to 2015 and is now serving as Dean of Studies. His empirical research is on individual investment behavior, the role of financial advice and on financial innovations. It was published in the Journal of Finance, the Review of Financial Studies and the Review of Finance. He acts as the head of the research area “household finance” at Goethe’s SAFE research center and as academic director of the University’s startup center. He is a member of the advisory council to the German Financial Supervisory Authority, of the Exchange Experts Commission (advising the German Federal Ministry of Finance), of the working group consulting ESMA’s Financial Innovation Standing Committee and of Frankfurt’s Fintech center Techquartier.com. He won several teaching awards and was awarded the title “German Professor of the Year” by the student magazine unicum in 2010.
Publications
VHB A+
(2011)
Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study
Review of Financial Studies, Vol. 25 (4), 975-1032
VHB A
(2015)
The Impact of Weather on German Retail Investors
Review of Finance (2015) 19 (3), pp. 1143-1183.
(2011)
Financial Advisors: A Case of Babysitters?
Journal of Banking and Finance, Vol 35, Issue 2, 509-524
VHB B
(2013)
Portfolio Risk Forecasting
Journal of Risk, Vol. 16(1), pp. 35-68
(2009)
Migration and the Retail Banking Industry - An Examination of Immigrants´ Bank Nationality Choice in Germany
European Journal of Finance (forthcoming)
(2006)
Strategic Decisions regarding the Vertical Integration of Human Ressource Organizations of Financial Services Firms and Industry Companies
The International Journal of Human Resource Management 17 (10), p1726-1771.
VHB C
(2009)
The Role of Process Standardization in Achieving IT Business Value
Hawaii International Conference on System Sciences (HICSS-42)
(2004)
Multi-Bank Loan Pool Contracts – Enhancing the Profitability of Small Commercial Banks
Applied Financial Economics, Vol. 14, (17), S.1239-1252, 2004
No VHB Rating
(2020)
Consuming Dividends
Working Paper; presented at the American Finance Association Ph.D. Student Poster Session (AFA 2020), the European Finance Association (EFA 2019) and the CEPR European Conference on Household Finance 2019.
(2015)
Asset Allocation vs. Security Selection – New Insights from Individual Investors
EFL Quarterly 3/15
(2015)
Neue Wege in der Anlageberatung
Die Bank, 2015, 2, pp. 16-19
(2014)
Which Investment Behaviors Really Matter for Individual Investors?
Working Paper
(2014)
Kosten und Nutzen werden selten hinterfragt
Jahrbuch Frankfurt Main Finance
(2014)
Trading on Noise: Moving Average Trading Heuristics and Private Investors
Dissertation Paper
(2014)
On the Applicability of Maximum Likelihood Methods: From Experimental to Financial Data
Working Paper
(2014)
Grenzen des Informationsmodells im Anlegerschutz
Zeitschrift für Vergleichende Rechtswissenschaft, 113 (2014), pp. 574-585
(2013)
The Impact of Google Search and Print Media on Private Investors Trading Volume
(2013)
Is Proprietary Trading Detrimental to Retail Investors?
Working Paper
(2013)
The Dark Side of ETFs and Index Funds
Proceedings of 40th Annual Conference of the European Finance Association, Cambridge
(2013)
How to Make the Market for Financial Advice Work
Mitchell, O.; Smetters, K. (eds.): The Market for Retirement Financial Advice, pp. 213-228
(2013)
Individual Investors Trading Motives and Security Selling Behavior
Working Paper
(2012)
The Impact of Weather on German Retail Investors
Proceedings of 20th Annual Meeting of the German Finance Association (DGF)
(2012)
Passive Aggressive: Index-Linked Securities and Individual Investors
Proceedings of DGF 2012 - 19th Annual Meeting of the German Finance Association (DGF), Hannover
(2012)
Der Homo Oeconomicus - Wie rational gehen Menschen mit Geld um?
Forschung Frankfurt 2/2012, 70-72
(2012)
Just Unlucky? -A Bootstrapping Simulation to Measure Skill in Individual Investors Investment Performance
Working Paper
(2012)
Information Diffusion in Financial Markets - Evidence from Retail Investors
Proceedings of 20th Annual Meeting of the German Finance Association (DGF)
(2012)
Individual investors trading and performance around earnings announcements of volatile and short-sale constraint stocks
EFL Quarterly 4/12
(2012)
Do Individual Investors Learn from Their Mistakes?
(2011)
Can unbiased financial advice steer retail investors towards efficient portfolios?
Proceedings of European Retail Investment Conference, Stuttgart
(2010)
Do Financial Advisors Correct the Investment Mistakes of Individual Investors?
Working Paper
(2010)
Trading on Advice
CEPR Discussion Paper No. DP8091
(2010)
Do Financial Advisors Take Advantage of Naive Investors?
Working Paper
(2010)
Tax Efficient Financial Advice - Myth or Truth?
(2009)
The Influence of Financial Advisors on Household Portfolios: A Study on Private Investors Switching to Financial Advice
Working Paper
(2009)
Whose Money is Smart? Mutual Fund Purchases of Private Investors
Working Paper
(2009)
Smart Investing and the Role of Financial Advice - Evidence from a Natural Experiment Using Data Around a Tax Law Change
(2008)
Die Bank auf Kurs bringen
Die Bank - Zeitschrift für Bankpolitik und Praxis, 3/2008, S. 58-60
(2008)
High Quality Financial Advice Wanted!
(2008)
Savings Banks, Liquidity Creation and Monetary Policy
Working Paper
(2007)
Den Beratungsprozess optimieren - Eine Analyse zum Einsatz von Marktdaten und technischen Systemen in der Anlageberatung bei Deutschlands 500 größten Kreditinstituten
(2007)
Moderne Banksteuerung
Books on Demand
(2007)
Drivers of and barriers to management accounting change
(2007)
The Impact of Business Process Outsourcing on Firm Performance and the Influence of Governance
(2006)
Kreditprozesse aus Sicht des Mittelstands
IHK Wirtschaftsforum
(2006)
SMEs view on German banks credit process
EFL Quarterly
(2006)
The Anatomy of Bank Diversification
(2006)
Involvement - eine innovative Segmentierungsstrategie
Die Bank, Sonderausgabe zur E.B.I.F. (European Banking & Insurance Fair) 2006
(2006)
How to meet private investors' advisory needs
(2006)
How ING-DiBa conquered the German retail banking market
Working Paper
(2005)
Kreditprozess-Management
Books on Demand
(2005)
Les restructurations bancaire européennes
Revue d'économie financière 78, 2005, S. 125-169
(2005)
Structural Change in the German Banking System?
(2005)
Vertical Integration and Bank Performance
Proceedings of the INFORMS Annual Meeting, New Orleans, USA
(2005)
Vers une mutation structurelle du systeme bancaire allemand?
Revue deconomie financiere 78, 2005, S. 125-169
(2005)
Differences internationale dans les structures de financement des entreprises
"La nouvelle économie bancaire" hrsg. v. O. Pastré, Paris: Economica, 2005
(2005)
Banks and German Corporate Governance: On the Way to a Capital Market-Based System?
Finance and Accounting, Working Paper Series, Goethe-University Frankfurt/Main Nr. 146 (erscheint in “Corporate Governance” (Blackwell), 2005)
(2005)
Kreditprozesse aus Sicht des Mittelstandes
Working Paper
(2005)
Vertical Integration and Bank Performance
(2005)
Structural Change in the German Banking System?
(2005)
What Retail Financial Services Firms Can Learn from Behavioral Finance
Working Paper
(2005)
Banks and Corporate Governance
Corporate Governance: An International Review, Vol. 13(3), 2005, pp.397-418
(2005)
Personalwesen: Wertschöpfungsstrukturen und Prozessoptimierung: Ein Vergleich von Finanzdienstleistern und Industrie
E-Finance Lab Ergebnisband
(2005)
Kreditprozess heute und morgen
(2004)
Intensivbetreuung von Ratenkrediten
bank und markt, June 2004
(2004)
Signaling Power of Open Market Share Repurchases in Germany
Working Paper
(2004)
Intelligentes Sourcing - Eine theoretische Fundierung
FAZ-Management-Handbuch, Hrsg. von Accenture
(2004)
Vertical Integration and Bank Performance
(2004)
Kreditkostenkalkulation und strategische Implikationen
Zeitschrift für das gesamte Kreditwesen, Nr. 3, S. 137-139
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