Doctoral Program

Former WHU Doctoral Student Awarded

Former doctoral student Alex Kusen has achieved an excellent 2nd place at the ACATIS-Value-Award 2019.

Former doctoral student Alex Kusen has achieved an excellent 2nd place at the ACATIS-Value-Award 2019 with his paper “Feedback trading: Strategies during day and night with global interconnectedness”, co-written by Professor Dr. Markus Rudolf.

The Frankfurt-based ACATIS Investment Kapitalverwaltungsgesellschaft mbH specializes in value investing and has been funding scientific work in this area for more than a decade and a half. In the opinion of its founder and managing director, Dr. Hendrik Leber, many aspects are not yet sufficiently researched or could be further improved.

The 2nd place of this year's competition, and therefore a financial reward of €2,000, was achieved by Alex Kusen and Professor Dr. Markus Rudolf from WHU – Otto Beisheim School of Management with their study "Feedback trading: Strategies during the day and night with global interconnectedness". The knowledge about the existence of positive or negative feedback trading is beneficial for traders in any given market. A more rational investor could use the diverse implications arising from day and night returns for own arbitrage opportunities by catching incipient trends in stock prices. Investors with low marginal trading costs can develop profitable conditional strategies and time their buy and sell orders better. Thus, strategies must be adjusted with respect to trading hours and the stock market of interest.

Further information on the ACATIS-Value-Award 2019, the winners, the summaries of the award-winning scientific papers, and the press release on the 17th ACATIS-Value-Award can be found here.