Home | deutsch  | Legals | Data Protection | Sitemap | KIT

Dr. rer. pol. Philipp Schuster

Research Group Leader
Office Hours: During semester: Tuesday 11:15-12:15
During semester break: on request

Room: 204 (Geb. 09.21, Blücherstr. 17)
Phone: +49 721 / 608 - 48184
philipp schusterKgs5∂kit edu

Author page google.scholar

Author page SSRN

Short Biography

2010-2014 Karlsruhe Institute of Technology (KIT)
Ph. D. in Finance (grade: summa cum laude)
2004-2009 University of Karlsruhe (TH), Karlsruhe
Business engineering (with honours)
2007-2008 Georgia Institute of Technology, Atlanta (GA)
Industrial engineering

Miscellaneous / Professional Experience

Since 2014 Karlsruhe Institute of Technology (KIT)
Assistant Professor (Wissenschaftlicher Assistent)
Copenhagen Business School
Visiting Scholar
College of William and Mary, Williamsburg (VA)
Visiting Scholar


For questions concerning one of the following courses or problem sessions please contact me during my office hours:

Research Focus

  • Measuring and empirical analysis of liquidity and market frictions
  • Liquidity risk modelling
  • Asset Pricing
  • Bond and option markets
  • Mortgage-backed securities and other structured products

Publications and Other Achievements

Scientific Articles in Journals

Papers in Collected Editions and Miscellaneous Publications

Press Coverage
  • Börsenzeitung, February 25, 2017: "Besseres Risikomanagement dank Liquiditätsmessung".
  • Börsenzeitung, July 7, 2016: "Modelle zur Messung von Risiken".
  • Instituional Money, July 5, 2016: "FIRM verleiht Preis für Dissertation über Liquidität an Anleihemärkte".
  • Börsenzeitung, April 22, 2015: "DAI Hochschulpreis verliehen".

Presentations at Conferences and Workshops
  • Fraud in Open-End Mutual Funds: FMA 2017, Boston*; Ninth Professional Asset Management Conference 2018, Rotterdam*; DGF 2018, Trier; Conference on Empirical Legal Studies in Europe 2018, Leuven*
  • Size-Adapted Bond Liquidity Measures and their Asset Pricing Implications: WHU - Otto Beisheim School of Management, Valendar 2017; SAFE Asset Pricing Workshop 2018, Frankfurt; University of Hohenheim, Hohenheim 2018
  • Why Do Dealers Buy High and Sell Low? An Analysis of Persistent Crossing in Extremely Segmented Markets: DGF 2015, Leipzig; Auckland Finance Meeting 2015*; Federal Reserve Bank of Atlanta Real Estate Conference 2015*; Western Economic Association International Annual Conference 2016, Portland*; U.S. Security and Exchange Commission (SEC)*
  • Measuring Liquidity in Bond Markets: DGF 2013, Wuppertal; Market Microstructure Conference 2014 (Poster Session), Paris; FIRM Research Conference 2016, Montabaur
  • A Heterogeneous Agents Equilibrium Model for the Term Structure of Bond Market Liquidity: International Forum on Liquidity Risk 2013, Paris; FMA European Conference 2013, Luxembourg; DGF 2013, Wuppertal; Annual Meeting of the German Academic Association for Business Research (VHB) 2015, Vienna; Copenhagen Business School, Copenhagen 2015; Mason School of Business, Williamsburg 2016
  • The Term Structure of Bond Market Liquidity Conditional on the Economic Environment: An Analysis of Government Guaranteed Bonds: Workshop Financial Markets & Risk 2010, Obergurgl; DGF 2011 (Ph.D. Workshop), Regensburg; Deutsche Bundesbank 2011, Frankfurt; SGF 2012, Zürich; DGF 2012, Hannover; DZ Bank AG 2012, Frankfurt;  FMA 2012, Atlanta (GA)

* Presented by coauthor(s)