Other Publications

ZORA Publication List

Publications

• 2026

  • Conference or Workshop item

    • Ni, J., Fan, Y., Zouhar, V., Rooein, D., Hoyle, A. M., Sachan, M., Leippold, M., Hovy, D., & Ash, E. (2026). Can Reasoning Help Large Language Models Capture Human Annotator Disagreement? (V. Demberg, K. Inui, & L. Marquez, Eds.; Volume 1: Long Papers; pp. 36–54). Association for Computational Linguistics. https://doi.org/10.18653/v1/2026.eacl-long.3
    • Vaghefi, S., Hachcham, A., Grasso, V., Msemo, N., Colesanti Senni, C., & Leippold, M. (2026). AI for Climate Finance: Agentic Retrieval and Multi-Step Reasoning for Early Warning System Investments (D. Croce, J. Leidner, & N. S. Moosavi, Eds.; Volume 3: System Demonstrations; pp. 492–511). Association for Computational Linguistics. https://doi.org/10.18653/v1/2026.eacl-demo.34

  • Dissertation

    • Iwata, T. (2026). Essays on materiality of ESG data in asset pricing (Dissertation, University of Zurich)

  • Newspaper Article

    • Fasnacht, D. (2026, January 1). Smart Health Bilanz, 62. https://www.bilanz.ch/unternehmen/das-schweizer-gesundheitssystem-muss-digitaler-effizienter-und-patienten-zentrierter-werden-890471

  • Scientific Publication in Electronic Form

    • Farkas, E. W., & Fasnacht, D. (2026). Advancing Risk Management in Swiss Banking: AI-driven Client Documentation, Identity Matching, and Fraud Detection https://data-innovation.org/advancing-risk-management-in-swiss-banking-ai-driven-client-documentation-identity-matching-and-fraud-detection/

  • Working Paper

    • Hummel, K., & Krauss, A. (2026). Steering Banks towards Sustainability: External Drivers, Internal Change Levers, and Management Controls (No. 6079907; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.6079907
    • Coculescu, D., Chesney, M., Gökay, N. S., & Santos, M. H. (2026). Economic Growth Versus Nature Protection: A Real Option Approach (No. 6180720; SSRN). Elsevier BV. https://doi.org/10.2139/ssrn.6180720

• 2025

  • Conference or Workshop item

    • Usmanova, A., Abdullah, R., Banerjee, D., Leippold, M., & Usbeck, R. (2025). ReportGRI: Automating GRI Alignment and Report Assessment 6723–6727. https://doi.org/10.1145/3746252.3761469
    • Kolli, I., Vaghefi, S., Colesanti Senni, C., Raj, S., & Leippold, M. (2025). 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
    • Xiong, C., Ni, J., Fan, Y., Zouhar, V., Rooein, D., Calvo-Bartolomé, L., Hoyle, A. M., Jin, Z., Sachan, M., Leippold, M., Hovy, D., El-Assady, M., & Ash, E. (2025). 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
    • Ni, J., Schimanski, T., Lin, M., Sachan, M., Ash, E., & Leippold, M. (2025). 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

  • Dissertation

    • Beck, E. (2025). Improved inference and forecasting in economics and finance (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-280800
    • Benincasa, E. (2025). Three essays on banking, climate risks, and corporate sustainability (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-280238
    • Schneider, B. E. (2025). Essays on signaling, sustainability, and collateral in fixed-income markets (Dissertation, University of Zurich)
    • Trutwin, E. M. H. (2025). Sustainable finance and environmental outcomes: a three-part analysis of investment, welfare, and innovation (Dissertation, University of Zurich)
    • Sadeghi, M. H. (2025). Selected statistical approaches in quantitative risk management (Dissertation, University of Zurich)
    • Vasileva, A. (2025). Investing with intent: green preferences, political context, and corporate accountability (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-292613

  • Edited Scientific Work

    • Fasnacht, D., & Farkas, W. (Eds.). (2025). Innovation in Risk Management: Three AI-Enabled Solutions for Swiss Banking Department of Finance, University of Zurich. https://acrobat.adobe.com/id/urn:aaid:sc:EU:3b19fbfe-73e9-4536-b19a-e1562add18de
    • Fasnacht, D. (Ed.). (2025). Smart Health: Ansätze zur Digitalisierung und Demokratisierung des Schweizer Gesundheitsökosystems Springer Gabler. https://doi.org/10.1007/978-3-658-46762-3

  • Newspaper Article

    • Hilber, C., & Valda, A. (2025, December 3). Wenn wir so weitermachen, hat die Schweiz in zehn bis zwanzig Jahren ein grösseres soziales Problem Handelszeitung, online.
    • Hilber, C., & Valda, A. (2025, November 27). Verdichtetes Bauen ist teuer Handelszeitung, 6.
    • Krähenbühl, S., & Hens, T. (2025, November 25). 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
    • Hilber, C., & Vontobel, N. (2025, June 17). Für jede Generation wird es schwieriger: Warum der Traum von Eigenheim in die Ferne rückt Luzerner Zeitung, 1–12.
    • Chesney, M. (2025, May 30). 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/
    • Chesney, M. (2025, May 29). Mais comment être sûr des capitaux propres des banques systémiques? letemps.ch.
    • Fasnacht, D. (2025, April 13). Innovationsweltmeister wird man nicht allein - man bleibt es auch nicht Neue Zürcher Zeitung am Sonntag, 23–23. https://www.nzz.ch/nzz-am-sonntag/report-und-debatte/schweizer-innovation-risiken-ohne-eu-partnerschaft-ld.1879346
    • Fasnacht, D. (2025, January 24). Soziale Netzwerke - eine digitale Seuche? Neue Zürcher Zeitung, 21. https://www.nzz.ch/meinung/soziale-netzwerke-eine-digitale-seuche-ld.1864927
    • Hilber, C., & Watts, V. (2025, December). The Economics of Real Estate OEC, 8–10. https://www.oec.uzh.ch/static/epaper_24-2025/#0

  • Published Research Report

    • Amschwand, I., Grampp, M., Gruber, M., Laude, D., Maranghino-Singer, B., & Savoia, R. (2025). Organisational resilience – why resilient companies need a well-informed Board of Directors : Vol. II (SwissVR Monitor). swissVR. https://www.swissvr.ch/publikationen/monitor/
    • Adamek, J., Habib, M., Mellors, F., Müller, A., & Ongena, S. (2025). Navigating the World of Sovereign Debt (SFI Roundups, Vol. 1). Swiss Finance Institute. https://www.sfi.ch/de/publications/sfi-ru-sovereign-debt-20250410
    • Amschwand, I., Grampp, M., Gruber-Durrer, M., Laude, D., Maranghino-Singer, B., & Savoia, R. (2025). Demographic change – the role of Boards in preparing for the future : Vol. I (SwissVR Monitor). swissVR. https://www.swissvr.ch/publikationen/monitor/

  • Scientific Publication in Electronic Form

    • Gong, D., Ongena, S., Qi, S., & Yu, Y. (2025). 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/
    • Hilber, C., & Mense, A. (2025). 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/
    • Chesney, M., & Wiese, M. (2025). Moneyland - Die dunklen Geschäfte der Finanzindustrie https://marcchesney.com/de/media/27-05-2025-moneyland-die-dunklen-geschafte-der-finanzindustrie/
    • Hilber, C., & Leutenegger, M. (2025). 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

  • Working Paper

    • Yang, Y., Wang, C., Schaab, A., & Moll, B. (2025). Structural Reinforcement Learning for Heterogeneous Agent Macroeconomics (No. 25–109; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5988734
    • Mei, J., Moses, M., Wàlty, J., & Yang, Y. (2025). Deep Learning for Art Market Valuation (No. 25–110; Swiss Finance Institute Research Paper). Elsevier BV. https://doi.org/10.2139/ssrn.5988754
    • Renerte, B., Baader, M., Tanner Calmonte, C., Wagner, A., & Witt, N. (2025). 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
    • Baader, M., Egorov, M., Renerte, B., Tanner Calmonte, C., Wagner, A., & Witt, N. (2025). 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
    • Puschmann, T., Kirschner, T., & Büge, M. (2025). Digital ESG For Strategic Innovation (No. 3; Sustainable Digital Finance).
    • Puschmann, T., & Khmarskyi, V. (2025). Future Directions in Green Fintech (No. 1; Sustainable Digital Finance).
    • Shen, C., Kübler, F., Yang, Y., & Zhou, Z. (2025). 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
    • Tanner Calmonte, C., Witt, N., Dahinden, U., & Christen, M. (2025). 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
    • Payne, J. L., Rebei, A., & Yang, Y. (2025). Deep Learning for Search and Matching Models (No. 25–05; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4768566
    • Yang, Y. (2025). Redistributive Inflation and Optimal Monetary Policy (No. 25–07; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4275770
    • Han, J., Yang, Y., & E, W. (2025). DeepHAM: A Global Solution Method for Heterogeneous Agent Models with Aggregate Shocks (No. 25–06; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.3990409
    • Tanner Calmonte, C., & Mansell, W. (2025). 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
    • Puschmann, T., & Khmarskyi, V. (2025). An Approach to Calculate Crypto Asset Carbon Emissions (No. 2; Sustainble Digital Finance).

• 2024

  • Conference or Workshop item

    • Schimanski, T., Ni, J., Martín, R. S., Ranger, N., & Leippold, M. (2024). ClimRetrieve: A Benchmarking Dataset for Information Retrieval from Corporate Climate Disclosures Proceedings of the Conference on Empirical Methods in Natural Language Processing, 17509–17524. https://doi.org/10.18653/v1/2024.emnlp-main.969
    • Schimanski, T., Ni, J., Kraus, M., Ash, E., & Leippold, M. (2024). Towards Faithful and Robust LLM Specialists for Evidence-Based Question-Answering Proceedings of the Annual Meeting of the Association for Computational Linguistics, 1913–1931. https://doi.org/10.18653/v1/2024.acl-long.105

  • Dissertation

    • Kooij, I. (2024). Sustainabiltiy integration and trading behavior in financial markets (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-280273
    • Chitsiripanich, S. (2024). New momentum, reversal, and multivariate discrete mixtures for portfolio selection (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-269955
    • Wolff, V. (2024). The economics of financial markets with frictions: risk-taking, market liquidity, and transaction taxes (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-262058
    • Meisser, L. (2024). Essays in decentralized finance (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-259657
    • Svaton, M. (2024). Essays in volatility (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-260073
    • Gaegauf, L. (2024). Essays in finance (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-259424
    • Grosshans, D. (2024). Beliefs in financial economics (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-292611
    • Cornelli, G. (2024). Essays on fintech and digital currencies (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-268638
    • Rillaerts, J. (2024). Three essays in empirical finance (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-258534
    • Matyunina, A. (2024). Essays on bank credit supply (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-262839

  • Master's Thesis

    • Can Türetken, A. (2024). An Adversarial Attack Approach on Financial LLMs Driven by Embedding-Similarity Optimization (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-262354
    • Cantoni, N. E. (2024). Loss Aversion in the Context of Sustainability (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-268892
    • Holzheu, K. (2024). Financial advisors and the willingness to pay for sustainable finance products by private investors (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-261882
    • Swiac, O. (2024). The Role of the US Dollar in Global Monetary System (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-257031
    • Von Alten, L. (2024). How primary dealer privileges relate to overpricing occurrences in EMU government bond auctions (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-253205
    • Oser, K. (2024). Corporate Green Bonds: Greenwashing or Credible Signal? (Master’s thesis, University of Zurich) https://doi.org/10.5167/uzh-253919

  • Newspaper Article

    • von Liechtenstein, M., & Puschmann, T. (2024, November 20). Das globale Finanzsystem wird sich stark verändern Neue Zürcher Zeitung, 19.
    • Hilber, C., Zulliger, J., & Honegger, L. (2024, October 21). “Man sollte die Anwohner entschädigen” : Der Professor für Wirtschaftsgeografie Christian Hilber sagt, warum die Situation am hiesigen Wohnungsmarkt noch lange nicht so angespannt ist wie in Grossbritannien - warum sie es aber werden könnte. Neue Zürcher Zeitung, 21.
    • Fasnacht, D. (2024, January 19). Virtuelle Konsumwelten –Trends mit Risiken: Gastkommentar Neue Zürcher Zeitung, 21.

  • Published Research Report

    • Leippold, M. (2024). The Role of AI in Transforming Financial Practices (SFI Public Discussion Note). Swiss Finance Institute. https://www.sfi.ch/en/publications/sfi-pdn-role-of-ai-20241112
    • Ongena, S., & Nistor, S. (2024). Bank Capital Requirements: Why, How High, Increasing them, Alternatives? (SFI Public Discussion Note). Swiss Finance Institute. https://www.sfi.ch/en/publications/bank-capital-requirements
    • Lau, A., Morellec, E., Ongena, S., Sautner, Z., & Zukas, T. (2024). Climate-Related Risks - A Focus on Banks and Credit Risk (SFI Roundups, Vol. 1). Swiss Finance Institute. https://www.sfi.ch/en/publications/sfi-roundup-climate-related-risk-20240827
    • Amschwand, I., Maranghino-Singer, B., Savoia, R., Grampp, M., & Laude, D. (2024). Generative künstliche Intelligenz - neue Horizonte für Verwaltungsräte (swissVR Monitor). swissVR. https://www2.deloitte.com/ch/de/pages/cxo/executives-and-board-programme/boardroom-programme/board-survey.html
    • Pasche, C., & Sautner, Z. (2024). The Value of ESG: Where and Why It Matters (SFI Public Discussion Note). Swiss Finance Institute. https://www.sfi.ch/en/publications/value-of-esg
    • Mettler, A., Ongena, S., Basten, C., & Bürgi, M. P. H. (2024). Updated Global Financial Regulation, Transparency, and Compliance Index (GFRTCI) (SFI Public Discussion Note). Swiss Finance Institute. https://www.sfi.ch/en/publications/gfrtci2024
    • Nyborg, K. G., & Pasche, C. (2024). Central Banks: Money, Policies, and Impact (SFI Public Discussion Note). Swiss Finance Institute. https://www.sfi.ch/en/publications/pdn-central-banks
    • Ryf, S., Fasnacht, D. P., & Fichter, C. (2024). Wirtschaftliche Situation der KMU angespannter als im Vorjahr (NZZ KMU Baromer, Vol. 2024). NZZ Verlag. https://www.kalaidos-fh.ch/de-CH/News/2024/Wirtschaftliche-Situation-der-KMU-angespannter-als-im-Vorjahr
    • Ritz Bossicard, C., Gruber-Durrer, M., Maranghino-Singer, B., Savoia, R., Grampp, M., & Laude, D. (2024). Nachhaltigkeit im Verwaltungsrat - gekommen, um zu bleiben (swissVR Monitor). swissVR. https://www2.deloitte.com/content/dam/Deloitte/ch/Documents/audit/deloitte-ch-de-swissvr-i-2024.pdf

  • Scientific Publication in Electronic Form

    • Delis, M., Galariotis, E., Iosifidi, M., & Ongena, S. (2024). Corporate taxes and economic inequality: A credit channel https://cepr.org/voxeu/columns/corporate-taxes-and-economic-inequality-credit-channel
    • Fasnacht, D. (2024). Beyond the hype: sensitive data on the blockchain https://cryptovalleyjournal.com/focus/background/beyond-the-hype-sensitive-data-on-the-blockchain/

  • Working Paper

    • Iwata, T., Orpiszewski, T., & Thompson, M. (2024). Betting Against ESG Sinners: Evidence From Short Selling Around the World (No. 4818314; SSRN). https://doi.org/10.2139/ssrn.4818314
    • Heeb, F., Kölbel, J., Ramelli, S., & Vasileva, A. (2024). Sustainable Investing and Political Behavior (No. 23–46; Swiss Finance Institute Research Paper). https://doi.org/10.2139/ssrn.4484166

• 2023

  • Conference or Workshop item

    • Schimanski, T., Bingler, J., Kraus, M., Hyslop, C., & Leippold, M. (2023). ClimateBERT-NetZero: Detecting and Assessing Net Zero and Reduction Targets Proceedings of the Conference on Empirical Methods in Natural Language Processing, 15745–15756. https://doi.org/10.18653/v1/2023.emnlp-main.975
    • Ni, J., Bingler, J., Colesanti Senni, C., Kraus, M., Gostlow, G., Schimanski, T., Stammbach, D., Ashraf Vaghefi, S., Wang, Q., Webersinke, N., Wekhof, T., Yu, T., & Leippold, M. (2023). CHATREPORT: Democratizing Sustainability Disclosure Analysis through LLM-based Tools Proceedings of the Conference on Empirical Methods in Natural Language Processing, 21–51. https://doi.org/10.18653/v1/2023.emnlp-demo.3
    • Leippold, M., Stammbach, D., Webersinke, N., Bingler, J. A., & Kraus, M. (2023). Environmental Claim Detection Proceedings of the Annual Meeting of the Association for Computational Linguistics, 1051–1066. https://doi.org/10.18653/v1/2023.acl-short.91
    • Leippold, M., Ni, J., Jin, Z., Wang, Q., & Sachan, M. (2023). When does aggregating multiple skills with multi-task learning work? A case study in financial NLP Proceedings of the Annual Meeting of the Association for Computational Linguistics, 7465–7488. https://aclanthology.org/2023.acl-long.412/
    • Leippold, M., Stammbach, D., Webersinke, N., Bingler, J. A., & Kraus, M. (2023). A dataset for detecting real-world environmental claims 1–14. https://doi.org/10.48550/arXiv.2209.00507

  • Dissertation

    • Rey, R. (2023). Three Essays in Small Business and Consumer Finance (Dissertation, University of Zurich)
    • Zheng, J. (2023). Climate change, biodiversity losses and financial risks (Dissertation, University of Zurich)
    • Meyer, K. (2023). Three Essays in Finance (Dissertation, University of Zurich)
    • Zheng, J. (2023). Climate Change, Biodiversity Losses and Financial Risks (Dissertation, University of Zurich)
    • Bergesio, A. (2023). Frictional costs in insurance (Dissertation, University of Zurich) https://doi.org/10.5167/uzh-252690
    • Huang, J. (2023). Factor structure and Machine Learning in Finance (Dissertation, University of Zurich)
    • Deng, M. (2023). Corporate Communication and News Media in the Financial Market (Dissertation, University of Zurich)
    • Pohl, S. (2023). Three Essays on Empirical Financial Intermediation (Dissertation, University of Zurich)
    • Toczynski, J. (2023). Essays in Empirical Finance (Dissertation, University of Zurich)

  • Newspaper Article

    • Farkas, W. (2023, December 21). Anlegen mit KI - Herausforderung und Chance Finanz und Wirtschaft, 15. https://www.fuw.ch/kuenstliche-intelligenz-anlegen-mit-ki-zwischen-herausforderung-und-chance-772747011940
    • Hens, T., & Walter, S. (2023, December 20). “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. Finanz und Wirtschaft, 15–16.
    • Chesney, M. (2023, December 19). The Smell Of Hypocrisy In Dubai The London Economic Newspaper, online. https://www.thelondoneconomic.com/business-economics/business/the-smell-of-hypocrisy-in-dubai-365421/
    • Chesney, M. (2023, April 1). Credit Suisse: The Party is Over The London Economic Newspaper, online. https://marcchesney.com/en/media/01-04-2023-london-economic-credit-suisse-the-party-is-over/

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