Ingrid  Werner

Ingrid Werner

Martin & Andrew Murrer Professor of Finance

Finance

Background

Ingrid M. Werner has an MBA and an Ekon. Lic. from Stockholm School of Economics, a PhD in Economics from the University of Rochester (1990), and an Honorary Doctorate in Economics from Stockholm School of Economics (2013). She joined the Finance group at Fisher College of Business, The Ohio State University, in 1998 and holds the Martin and Andrew Murrer Endowed Professorship in Finance.

Professor Werner is currently the President-Elect of the Western Finance Association, and a Past President of the European Finance Association. She is a non-executive director of the Fourth Swedish AP Fund and is a member of the FINRA Economic Advisory Committee.  Professor Werner serves on the prize committee for the Swedish Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.  She chairs the scientific advisory board of the Swedish House of Finance (SHoF), serves on the board of Mistra Financial Systems (MFS) at Stockholm School of Economics, the scientific advisory board of the Danish Finance Institute at Copenhagen Business School. Professor Werner serves on the editorial boards of several academic journals, including the Journal of Finance, Journal of Financial Markets, and European Financial Management.

Professor Werner’s research interests range from international finance to market microstructure. Her research has been published in top-tier economics and finance journals such as Journal of Finance, Journal of Financial Economics, the Review of Financial Studies, and Journal of Economic Theory. In the international finance area, she has worked on home bias and cross-border securities trading. In the market microstructure area, she has studied a range of topics: cross-listed securities; interdealer trading; floor trading; institutional trading; ramifications of de-listings; short-sale trading strategies; and the effect of suspending short-sale price tests. Current research projects include dark pool trading, tick size, trading fees, OTC market regulatory regimes, and liquidity and asset pricing.

Professor Werner currently teaches Trading and Markets to Fisher graduate and undergraduate students. She has taught at the graduate level at Stanford Graduate School of Business, University of Michigan, University of Toronto, Bocconi University, and the University of Bologna.

Areas of Expertise

Corporate Finance

  • Bankruptcy

Finance

International

  • International Finance

Education

  • PhD from the University of Rochester
  • MBA and an Ekon. Lic. from Stockholm School of Economics

Publications

Publications in Refereed Journals 
 Publications in Books
  • International Equity Transactions and U.S. Portfolio Choice, with Linda L. Tesar, in Jeffrey Frankel Ed, Internationalization of Equity Markets, NBER Project Report, University of Chicago Press, 1994, 185-216.
  • Transaction Costs in Dealer Markets: Evidence from The London Stock Exchange, with Peter C. Reiss, in Andrew Lo ed., The Industrial Organization and Regulation of the Securities Industry, University of Chicago Press, 1996, 125-176.
  • The Internationalization of Global Securities Markets Since the 1987 Crash, with Linda L. Tesar, in R.E. Litan and A.M. Santomero Eds, Brookings-Wharton Papers on Financial Services, vol. 1, 1998, 281-372.
 Other Materials

Working Papers

You can access my papers on the Social Science Research Network (SSRN) at:http://ssrn.com/author=497674

  • Sub-Penny and Queue Jumping, with Sabrina Buti, Francesco Consonni, Barbara Rindi, and Yuanji Wen, Charles A. Dice Center Working Paper No. 2013-18, July, 2015.  
  • Tick Size: Theory and Evidence, with Sabrina Buti, Francesco Consonni, Barbara Rindi, and Yuanji Wen, Charles A. Dice Center Working Paper No., March, 2015.  
  • Dark Trading under Blue Skies:  Regulatory Regimes in the OTC Markets, with Ulf Bruggeman, Aditya Kaul, and Christian Leuz, April 2013. 
  • Microstructure Bias, Illiquidity, and the Cross-Section of Expected Returns, with Kewei Hou and Peter Wong, March 2013.
  • Tick Size Regulation, Intermarket Competition and Sub-Penny Trading, with Sabrina Buti, Barbara Rindi, and Yuanji Wen, August 2011.
  • Diving into Dark Pools, with Sabrina Buti and Barbara Rindi, June, November 2011.
  • When Constraints Bind, with Karl B. Diether, July 2011.
  • The Changing Nature of Chapter 11, with Sreedhar Bharath, Venkatesh Panchapagesan, November 2010.
  • Fighting for Survival:  The Case of Low-Priced Stocks, with Jennifer Koski, September 2010.
  • Off but Not Gone: A Study of Nasdaq Delistings, with Jeffrey Harris, and Venkatesh Panchapagesan, May 2006.

Courses

  • BUSFIN 4227 - Trading & Markets

    Action-based course on market design and trading cost analysis, including interactive trading simulation. Prereq: 4211, 4221 and BUSMHR 2292. Not open to students with credit for 730.

  • BUSFIN 7224 - Trading & Markets

    Advanced theories of market design applied in an interactive trading simulation, Action-Based. Prereq: MBA 6221 (810) and 6222 (BusFin 811), or prereq or concur: BusFin 7210, 7220 (822), or 7230 (823). Not open to students with credit for 830.