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Photo: Adelheid Rutenburges

Photo: Adelheid Rutenburges

Photo: Adelheid Rutenburges

Photo: Adelheid Rutenburges


Prof. Dr. Matthias Pelster

Prof. Dr. Matthias Pelster


Professor - Finance

+49 5251 60-3766
+49 5251 60-4207
Office hours:

by appointment

Warburger Str. 100
33098 Paderborn

Matthias Pelster is Professor for Finance at Paderborn University. His research interests cover the areas of financial risk management and behavioral finance.

Matthias received his Doctorate in Finance in 2013 from TU Dortmund University and his diploma in Business Mathematics in 2009 from TU Dortmund University. Matthias’ Ph.D thesis was awarded the Best Dissertation of the Year Award of the Faculty of Business, Economics and Social Sciences in 2013 at TU Dortmund University. Prior to his current appointment, Matthias was assistant professor for finance at Leuphana University (2014-2017) and at Paderborn University (2017-2020). He completed his habilitation at Paderborn University in 2019.

Matthias visited the New York University Stern School of Business, the Durham University Business School, the Maurice R. Greenberg School of Risk Management and the German Bundesbank to advance his research projects. Contributions by Matthias have been published in the Journal of Financial Economics, the Journal of Banking & Finance, the Journal of Economic Behavior & Organization, and the Journal of Futures Markets, amongst others. In 2017, he was awarded the Teaching Award for his lecture "Econometrics of Financial Markets".

Prof. Dr. Matthias Pelster
23.09.2020 - today

Professor for Finance

Paderborn University

01.12.2017 - 22.09.2020

Assistant Professor for Finance

Paderborn University

18.09.2019 - 18.03.2020

Visiting Research Professor

New York University, Leonard N. Stern School of Business

01.12.2014 - 30.11.2017

Assistant Professor for Finance

Leuphana University Lueneburg

01.08.2014 - 30.11.2014

Akademischer Rat

Lehrstuhl für Investition und Finanzierung, TU Dortmund

01.04.2009 - 31.07.2014

Wissenschaftlicher Mitarbeiter

Lehrstuhl für Investition und Finanzierung, TU Dortmund

Selected peer-reviewed publications

Arnold, M.; Pelster, M.; Subrahmanyam, M.G. (2021): 'Attention triggers and investors' risk-taking', Journal of Financial Economics. (a Financial Times top 50 journal)

Breitmayer, B.; Hasso, T.; Pelster, M. (2019): 'Culture and the disposition effect', Economics Letters 184, 108653.

Breitmayer, B.; Pelster, M. (2018): 'Affect and stock returns', Journal of Behavioral and Experimental Finance 18, 76-84.

Hasso, T.; Müller, D.; Pelster, M.; Warkulat, S. (2021): 'Who participated in the GameStop frenzy? Evidence from brokerage accounts', Finance Research Letters, 102140.

Hasso, T.; Pelster, M.; Breitmayer, B. (2019): 'Who trades cryptocurrencies, how do they trade it, and how do they perform? Evidence from brokerage accounts', Journal of Behavioral and Experimental Finance 23, 64-74.

Hasso, T.; Pelster, M.; Breitmayer, B. (2020): 'Terror attacks and individual investor behavior: Evidence from the 2015-2017 European terror attacks', Journal of Behavioral and Experimental Finance 28, 100397.

Koester, H.; Pelster, M. (2017): 'Financial penalties and bank performance', Journal of Banking and Finance 79, 57-73. (Latest thinking video)

Koester, H.; Pelster, M. (2018): 'Financial penalties and the systemic risk of banks', Journal of Risk Finance 19, 154-173.

Liêu, M.L.; Pelster, M. (2020): 'Framing and the disposition effect in a scopic regime', Quarterly Review of Economics and Finance 78, 175-185. (Data)

Mutschmann, M.; Hasso, T.; Pelster, M. (2021): 'Dark triad managerial personality and financial reporting manipulation', Journal of Business Ethics. (a Financial Times 50 Journal)

Ortmann, R.; Pelster, M.; Wengerek, S.T. (2020): 'COVID-19 and investor behavior', Finance Research Letters 37, 101717.

Pelster, M. (2017): 'I’ll Have What S/he’s Having: A Case Study of a Social Trading Network’, Proceedings of the International Conference on Information Systems 2017.

Pelster, M. (2020): 'The gambler’s and hot-hand fallacies: Empirical evidence from trading data', Economics Letters 187, 108887.

Pelster, M.; Breitmeyer, B. (2019): 'Attracting attention from peers: Excitement in social trading', Journal of Economic Behavior & Organization 161, 158-179.

Pelster, M.; Hagemann, V.; Laporte Uribe, F. (2016): 'Key aspects of a sustainable health insurance System in Germany', Applied Health Economics and Healths Policy 14, 293-312.

Pelster, M.; Hasso, T.; Breitmayer, B. (2019): 'Are cryptocurrency traders pioneers or just risk-seekers? Evidence from brokerage accounts', Economics Letters 182, 98-100. (Media coverage: yahoo finance,, pressetext)

Pelster, M.; Hofmann, A. (2018): 'About the fear of reputational loss: Social trading and the disposition effect', Journal of Banking and Finance 94, 75-88.

Pelster, M.; Hofmann, A.; Klocke, N.; Warkulat, S. (2021): 'Managerial personality traits and selective hedging', Journal of Business Ethics, forthcoming. (a Financial Times 50 Journal)

Pelster, M; Irresberger, F.; Weiß, G. (2018): 'Bank stock performance and bank regulation around the globe', European Journal of Finance 24, 77-113.

Pelster, M.; Schaltegger, S. (2021): 'The dark triad and corporate sustainability: An empirical analysis of personality traits of middle managers', Business Ethics, the Environment & Responsibility, forthcoming.

Pelster, M.; Schertler, A. (2019): 'Pricing and issuance dependencies in structured financial product portfolios', Journal of Futures Markets 39, 342-365.

Pelster, M.; Vilsmeier, J. (2018): 'The determinants of CDS spreads: evidence from the model space', Review of Derivatives Research 21, 63-118.

Steiger, S.; Pelster, M. (2020): 'Social interactions and asset pricing bubbles', Journal of Economic Behavior & Organization. (Data)

German publications

Pelster, M.; Kaposty, F. (2015): 'Optimales Anlagevermögen von Versicherungsunternehmen', Zeitschrift für die gesamte Versicherungswissenschaft 104, 113-129.

Pelster, M.; Thamm, S. (2016): 'Markttransparenz im CO2-Emissionshandel und Risikomanagement von Stromerzeugern', Zeitschrift für Energiewirtschaft 40, 15-31.


Eine Übersicht über das Lehrangebot von Prof. Dr. Matthias Pelster finden Sie hier.

The University for the Information Society