Other Publications
ZORA Publication List
Publications
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2026
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Newspaper Article
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Smart Health Bilanz, 1, 62. https://www.bilanz.ch/unternehmen/das-schweizer-gesundheitssystem-muss-digitaler-effizienter-und-patienten-zentrierter-werden-890471
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Working Paper
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Steering Banks towards Sustainability: External Drivers, Internal Change Levers, and Management Controls (No. 6079907; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.6079907
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Economic Growth Versus Nature Protection: A Real Option Approach (No. 6180720; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.6180720
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2025
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Conference or Workshop item
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ReportGRI: Automating GRI Alignment and Report Assessment 6723–6727. https://doi.org/10.1145/3746252.3761469
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Automated Evidence Extraction and Scoring for Corporate Climate Policy Engagement: A Multilingual RAG Approach (I. Habernal, P. Schulam, & J. Tiedemann, Eds.; pp. 111–129). Association for Computational Linguistics. https://doi.org/10.18653/v1/2025.emnlp-demos.9
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Co-DETECT: Collaborative Discovery of Edge Cases in Text Classification (I. Habernal, P. Schulam, & J. Tiedemann, Eds.; pp. 354–364). Association for Computational Linguistics. https://doi.org/10.18653/v1/2025.emnlp-demos.25
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DIRAS: Efficient LLM Annotation of Document Relevance for Retrieval Augmented Generation (L. Chiruzzo, A. Ritter, & L. Wang, Eds.; Volume 1: Long Papers; Issue Volume 1: Long Papers, pp. 5238–5258). Association for Computational Linguistics. https://doi.org/10.18653/v1/2025.naacl-long.271
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Dissertation
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Improved inference and forecasting in economics and finance (Dissertation, University of Zurich)
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Three essays on banking, climate risks, and corporate sustainability (Dissertation, University of Zurich)
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Essays on signaling, sustainability, and collateral in fixed-income markets (Dissertation, University of Zurich)
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Sustainable finance and environmental outcomes: a three-part analysis of investment, welfare, and innovation (Dissertation, University of Zurich)
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Selected statistical approaches in quantitative risk management 2025, University of Zurich, Faculty of Economics.
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Edited Scientific Work
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Innovation in Risk Management: Three AI-Enabled Solutions for Swiss Banking Edited by: Fasnacht, Daniel; Farkas, Walter (2025). Zurich: Department of Finance, University of Zurich.
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Smart Health: Ansätze zur Digitalisierung und Demokratisierung des Schweizer Gesundheitsökosystems Edited by: Fasnacht, Daniel (2025). Wiesbaden: Springer Gabler.
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Newspaper Article
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Verdichtetes Bauen ist teuer Handelszeitung, 29, 6.
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Die Aktienkurse können sich nochmals verdoppeln: Interview mit Thorsten Hens Finanz und Wirtschaft, online. https://www.fuw.ch/thorsten-hens-die-aktienkurse-koennen-sich-nochmals-verdoppeln-952055119892
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Für jede Generation wird es schwieriger: Warum der Traum von Eigenheim in die Ferne rückt Luzerner Zeitung, 1–12.
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Wer hat Recht – die Börse oder die Grossbanker? Inside Paradeplatz, online. https://insideparadeplatz.ch/2025/05/30/wer-hat-recht-die-boerse-oder-die-bank-chefs/
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Innovationsweltmeister wird man nicht allein - man bleibt es auch nicht In: Neue Zürcher Zeitung am Sonntag, 13 April 2025, 23.
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Soziale Netzwerke - eine digitale Seuche? In: Neue Zürcher Zeitung, 24 January 2025, 21.
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Published Research Report
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Organisational resilience – why resilient companies need a well-informed Board of Directors : Vol. II (SwissVR Monitor). swissVR. https://www.swissvr.ch/publikationen/monitor/
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Navigating the World of Sovereign Debt Zürich: Swiss Finance Institute.
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Demographic change – the role of Boards in preparing for the future : Vol. I (SwissVR Monitor). swissVR. https://www.swissvr.ch/publikationen/monitor/
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Scientific Publication in Electronic Form
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Information frictions inside a bank: Evidence from borrower switching between branches 1328. https://www.suerf.org/publications/suerf-policy-notes-and-briefs/information-frictions-inside-a-bank-evidence-from-borrower-switching-between-branches/
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What the price-to-rent ratio reveals about Britain’s housing crisis https://blogs.lse.ac.uk/politicsandpolicy/what-the-price-to-rent-ratio-reveals-about-britains-housing-crisis/
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Die dunklen Geschäfte der Finanzindustrie. https://marcchesney.com/de/media/27-05-2025-moneyland-die-dunklen-geschafte-der-finanzindustrie/
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Kopiert die Schweiz Englands Sünden? Immobilienexperte warnt vor einem Irrlauf in der Wohnbaupolitik https://www.swissinfo.ch/ger/wohnen/wohnungsnot-kopiert-die-schweiz-englands-s%C3%BCnden/89317740
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Working Paper
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Deep Learning for Art Market Valuation (No. 25–110; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5988754
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Structural Reinforcement Learning for Heterogeneous Agent Macroeconomics (No. 25–109; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5988734
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Organizational Ethics in Action: The Use of Contemplation Questions as Decision Aids in Large Companies (No. 25–103; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5680982
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The Unintended Effects of Ethical Decision Aids in Organizations (No. 25–18; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5136031
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Digital ESG For Strategic Innovation Sustainable Digital Finance 3, Global Center for Sustainable Digital Finance.
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Future Directions in Green Fintech Sustainable Digital Finance 1, Global Center for Sustainable Digital Finance.
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A Lagrangian Approach to Optimal Lotteries in Non-Convex Economies (No. 25–48; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5233164
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Big Data in Insurance: Understanding Customer Resistance and Ethical Boundaries In SSRN Electronic Journal (No. 5309832; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.5309832
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Deep Learning for Search and Matching Models (No. 25–05; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4768566
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DeepHAM: A Global Solution Method for Heterogeneous Agent Models with Aggregate Shocks Swiss Finance Institute Research Paper 25-06, University of Zurich.
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Redistributive Inflation and Optimal Monetary Policy Swiss Finance Institute Research Paper 25-07, University of Zurich.
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The Dynamics of Deception: Lessons from the Volkswagen Emissions Scandal In SSRN Electronic Journal (No. 4986485; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.4986485
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An Approach to Calculate Crypto Asset Carbon Emissions Sustainble Digital Finance 2, Global Center for Sustainable Digital Finance.
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2024
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Conference or Workshop item
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ClimRetrieve: A Benchmarking Dataset for Information Retrieval from Corporate Climate Disclosures In: The 2024 Conference on Empirical Methods in Natural Language Processing, Miami, Florida, USA, 12 November 2024 - 16 November 2024. Association for Computational Linguistics, 17509-17524.
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Towards Faithful and Robust LLM Specialists for Evidence-Based Question-Answering In: The 62nd Annual Meeting of the Association for Computational Linguistics, Bangkok, Thailand, 11 August 2024 - 16 August 2024. Association for Computational Linguistics, 1913-1931.
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Dissertation
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Sustainabiltiy integration and trading behavior in financial markets (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-280273
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New momentum, reversal, and multivariate discrete mixtures for portfolio selection 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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The economics of financial markets with frictions: risk-taking, market liquidity, and transaction taxes 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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Essays in decentralized finance 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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Essays in volatility 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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Essays in finance 2024, University of Zurich, Faculty of Economics.
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Essays on bank credit supply 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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Three essays in empirical finance 2024, University of Zurich, Faculty of Economics.
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Essays on fintech and digital currencies 2024, University of Zurich, Faculty of Economics.
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Master's Thesis
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An Adversarial Attack Approach on Financial LLMs Driven by Embedding-Similarity Optimization 2024, University of Zurich, Faculty of Economics.
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Loss Aversion in the Context of Sustainability 2024, University of Zurich, Faculty of Economics.
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Financial advisors and the willingness to pay for sustainable finance products by private investors 2024, University of Zurich, Wirtschaftswissenschaftliche Fakultät.
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The Role of the US Dollar in Global Monetary System 2024, University of Zurich, Faculty of Economics.
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How primary dealer privileges relate to overpricing occurrences in EMU government bond auctions 2024, University of Zurich, Faculty of Economics.
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Corporate Green Bonds: Greenwashing or Credible Signal? 2024, University of Zurich, Faculty of Economics.
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Newspaper Article
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Das globale Finanzsystem wird sich stark verändern In: Neue Zürcher Zeitung, 20 November 2024, 19.
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Virtuelle Konsumwelten –Trends mit Risiken: Gastkommentar In: Neue Zürcher Zeitung, 19 January 2024, 21.
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Published Research Report
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The Role of AI in Transforming Financial Practices Zürich: Swiss Finance Institute.
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Bank Capital Requirements: Why, How High, Increasing them, Alternatives? Zürich: Swiss Finance Institute.
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Climate-Related Risks - A Focus on Banks and Credit Risk Zürich: Swiss Finance Institute.
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Generative künstliche Intelligenz - neue Horizonte für Verwaltungsräte Rotkreuz: swissVR.
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The Value of ESG: Where and Why It Matters Zürich: Swiss Finance Institute.
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Updated Global Financial Regulation, Transparency, and Compliance Index (GFRTCI) Zürich: Swiss Finance Institute.
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Central Banks: Money, Policies, and Impact Zürich: Swiss Finance Institute.
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Wirtschaftliche Situation der KMU angespannter als im Vorjahr Zürich: NZZ Verlag.
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Nachhaltigkeit im Verwaltungsrat - gekommen, um zu bleiben Zürich: swissVR.
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Scientific Publication in Electronic Form
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Corporate taxes and economic inequality: A credit channel cepr.org: Centre for Economic Policy Research (CEPR).
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Beyond the hype: sensitive data on the blockchain cryptovalleyjournal.com: CV Publishing AG.
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Working Paper
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Betting Against ESG Sinners: Evidence From Short Selling Around the World SSRN 4818314, University of Zurich.
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Sustainable Investing and Political Behavior Swiss Finance Institute Research Paper 23-46, University of Zurich.
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2023
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Conference or Workshop item
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CHATREPORT: Democratizing Sustainability Disclosure Analysis through LLM-based Tools In: The 2023 Conference on Empirical Methods in Natural Language Processing, Singapore, Singapore, 6 December 2023 - 10 December 2023. Association for Computational Linguistics, 21-51.
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ClimateBERT-NetZero: Detecting and Assessing Net Zero and Reduction Targets In: The 2023 Conference on Empirical Methods in Natural Language Processing, Singapore, Singapore, 6 December 2023 - 10 December 2023. Association for Computational Linguistics, 15745-15756.
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A dataset for detecting real-world environmental claims In: 61st Annual Meeting of the Association for Computational Linguistics (ACL’23), Toronto, Canada, 9 July 2023 - 14 July 2023. arxiv.org, 1-14.
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When does aggregating multiple skills with multi-task learning work? A case study in financial NLP In: 61st Annual Meeting of the Association for Computational Linguistics (ACL’23), Toronto, Canada, 9 July 2023 - 14 July 2023. Association for Computational Linguistics, 7465-7488.
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Environmental Claim Detection In: 61st Annual Meeting of the Association for Computational Linguistics (ACL’23), Toronto, Canada, 9 July 2023 - 14 July 2023. Association for Computational Linguistics, 1051-1066.
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Dissertation
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Three Essays in Small Business and Consumer Finance 2023, University of Zurich, Faculty of Economics.
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Climate change, biodiversity losses and financial risks (Dissertation, University of Zurich)
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Factor structure and Machine Learning in Finance 2023, University of Zurich, Faculty of Economics.
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Three Essays in Finance 2023, University of Zurich, Faculty of Economics.
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Essays in Empirical Finance 2023, University of Zurich, Faculty of Economics.
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Corporate Communication and News Media in the Financial Market 2023, University of Zurich, Faculty of Economics.
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Three Essays on Empirical Financial Intermediation 2023, University of Zurich, Faculty of Economics.
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Frictional costs in insurance 2023, University of Zurich, Faculty of Economics.
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Climate Change, Biodiversity Losses and Financial Risks 2023, University of Zurich, Faculty of Economics.
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Newspaper Article
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Anlegen mit KI - Herausforderung und Chance In: Finanz und Wirtschaft, 101, 21 December 2023, 15.
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"Das süsse Gift der Gewinne vergiftet mich": Interview mit Thorsten Hens: Der Professor am Institut für Banking und Finance erwartet für das kommende Jahr weniger Aktienperformance als in 2023 In: Finanz und Wirtschaft, 20 December 2023, 15-16.
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The Smell Of Hypocrisy In Dubai In: The London Economic Newspaper, 19 December 2023, online.
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Credit Suisse: The Party is Over In: The London Economic Newspaper, 1 April 2023, online.
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Das Revival von Open Innovation In: Unternehmerzeitung, 2, 1 April 2023, 40-42.
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Credit Suisse: la fête est finie In: Le Temps, 27 March 2023, 10.
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Die digitale Disruption bewältigen In: Computerworld Schweiz, 6, 2023, 78-79.
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Published Research Report
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Cyber-Resilienz - Steigende Bedeutung für Verwaltungsräte Rotkreuz: swissVR.
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Mobilizing Finance for the Just Energy Transition in the European Union Washington, DC: World Bank Group.
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Insights Into Today’s Real Estate Market - A Focus on Switzerland Zürich: Swiss Finance Institute.
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