Sarah Zhang

Sarah Zhang

Dr

 https://orcid.org/0000-0002-1612-453X

Accepting PhD Students

PhD projects

Starting from 2026/27

Personal profile

Research interests

Market Microstructure, Experimental Finance, FinTech (Open Banking, Cryptocurrencies), LawTech and Legal Tech

Memberships of committees and professional bodies

Member of: American Finance Association, European Finance Association, Financial Management Association, German Finance Association

2015/17 Program committee member, European Retail Investment Conference, Stuttgart, Germany
2011 Organizing team member, 12th Symposium of Finance, Banking and Insurance (FBI), Karlsruhe, Germany

Prizes and awards

2017-2020 ESRC grant "Experimental Assessment of the Societal Impact of Algorithmic Traders in Asset Markets" (Co-I) joint with Jason Shachat & Julian Williams, Durham University, and Tibor Neugebauer, University of Luxembourg
2014 Young Economist, 5th Nobel Laureates Meeting in Lindau
2012 EFA Doctoral Tutorial Best Paper Prize and CQA Award
2012 IME Graduate School Best Paper Award (1st prize)
2012 Karlsruhe House of Young Scientists - International fellowship for research visit at University of Toronto
2012 Karl Steinbuch scholarship of MFG Stiftung Baden-Württemberg
2012 Research grant for Experimental HFT Project
2011 Research grant for HFT Project 
2010-2013 Doctoral fellowship of German National Science Foundation (Deutsche Forschungsgemeinschaft)
2009 Scholarship of German National Academic Foundation (Studienstiftung des Deutschen Volkes)
2008-2009 Fulbright and VDAC scholarship

Expertise related to UN Sustainable Development Goals

In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):

  • SDG 4 - Quality Education
  • SDG 8 - Decent Work and Economic Growth
  • SDG 9 - Industry, Innovation, and Infrastructure
  • SDG 10 - Reduced Inequalities

Education/Academic qualification

Doctor of Philosophy, High-Frequency Trading in Financial Markets, Karlsruher Institut für Technologie (KIT)

Award Date: 31 Dec 2013

Master in Science, Industrial Engineering, Georgia Institute of Technology

Award Date: 31 May 2009

Bachelor of Science, Business Engineering and Management, Karlsruher Institut für Technologie (KIT)

Award Date: 31 May 2008

External positions

Visiting fellow, BCCaS (Centre for Business, Climate Change, and Sustainability) at University of Edinburgh Business School

1 Feb 2025 → …

Visiting Researcher - ESSEC Business School

Aug 2013 → Dec 2013

Visiting Researcher, Humboldt-Universitat zu Berlin

2013

Visiting PhD researcher, University of Toronto

Aug 2012 → Nov 2012

Areas of expertise

  • HG Finance

Research Beacons, Institutes and Platforms

  • Digital Futures

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Collaborations and top research areas from the last five years

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  • 7 Article
  • 3 Conference contribution
  • 2 Chapter
  • 1 Working paper

  • Nonstandard Errors

    Menkveld, A. J., Dreber, A., Holzmeister, F., Huber, J., Johannesson, M., Kirchler, M., Neusüß, S., Razen, M., Weitzel, U., Abad-Díaz, D., Abudy, M., Adrian, T., Ait-Sahalia, Y., Akmansoy, O., Alcock, J. T., Alexeev, V., Aloosh, A., Amato, L., Amaya, D. & Angel, J. J. & 323 others, Avetikian, A. T., Bach, A., Baidoo, E., Bakalli, G., Bao, L., Barbon, A., Bashchenko, O., Bindra, P. C., Bjønnes, G. H., Black, J. R., Black, B. S., Bogoev, D., Correa, S. B., Bondarenko, O., Bos, C. S., Bosch-Rosa, C., Bouri, E., Brownlees, C., Calamia, A., Cao, V. N., Capelle-Blancard, G., Romero, L. M. C., Caporin, M., Carrion, A., Caskurlu, T., Chakrabarty, B., Chen, J., Chernov, M., Cheung, W., Chincarini, L. B., Chordia, T., Chow, S. C., Clapham, B., Colliard, J. E., Comerton-Forde, C., Curran, E., Dao, T., Dare, W., Davies, R. J., Blasis, R. D., Nard, G. F. D., Declerck, F., Deev, O., Degryse, H., Deku, S. Y., Desagre, C., Dijk, M. A. V., Dim, C., Dimpfl, T., Dong, Y. J., Drummond, P. A., Dudda, T., Duevski, T., Dumitrescu, A., Dyakov, T., Dyhrberg, A. H., Dzieliński, M., Eksi, A., Kalak, I. E., Ellen, S. T., Eugster, N., Evans, M. D. D., Farrell, M., Felez-Vinas, E., Ferrara, G., Ferrouhi, E. M., Flori, A., Fluharty-Jaidee, J. T., Foley, S. D. V., Fong, K. Y. L., Foucault, T., Franus, T., Franzoni, F., Frijns, B., Frömmel, M., Fu, S. M., Füllbrunn, S. C., Gan, B., Gao, G., Gehrig, T. P., Gemayel, R., Gerritsen, D., Gil-Bazo, J., Gilder, D., Glosten, L. R., Gomez, T., Gorbenko, A., Grammig, J., Grégoire, V., Güçbilmez, U., Hagströmer, B., Hambuckers, J., Hapnes, E., Harris, J. H., Harris, L., Hartmann, S., Hasse, J. B., Hautsch, N., He, X. Z., Heath, D., Hediger, S., Hendershott, T., Hibbert, A. M., Hjalmarsson, E., Hoelscher, S. A., Hoffmann, P., Holden, C. W., Horenstein, A. R., Huang, W., Huang, D., Hurlin, C., Ilczuk, K., Ivashchenko, A., Iyer, S. R., Jahanshahloo, H., Jalkh, N., Jones, C. M., Jurkatis, S., Jylhä, P., Kaeck, A. T., Kaiser, G., Karam, A., Karmaziene, E., Kassner, B., Kaustia, M., Kazak, E., Kearney, F., Kervel, V. V., Khan, S. A., Khomyn, M. K., Klein, T., Klein, O., Klos, A., Koetter, M., Kolokolov, A., Korajczyk, R. A., Kozhan, R., Krahnen, J. P., Kuhle, P., Kwan, A., Lajaunie, Q., Lam, F. Y. E. C., Lambert, M., Langlois, H., Lausen, J., Lauter, T., Leippold, M., Levin, V., Li, Y., Li, H., Liew, C. Y., Lindner, T., Linton, O., Liu, J., Liu, A., Llorente, G., Lof, M., Lohr, A., Longstaff, F., Lopez-Lira, A., Mankad, S., Mano, N., Marchal, A., Martineau, C., Mazzola, F., Meloso, D., Mi, M. G., Mihet, R., Mohan, V., Moinas, S., Moore, D., Mu, L., Muravyev, D., Murphy, D., Neszveda, G., Neumeier, C., Nielsson, U., Nimalendran, M., Nolte, S., Norden, L. L., O'neill, P., Obaid, K., Ødegaard, B. A., Östberg, P., Pagnotta, E., Painter, M., Palan, S., Palit, I. J., Park, A., Pascual, R., Pasquariello, P., Pastor, L., Patel, V., Patton, A. J., Pearson, N. D., Pelizzon, L., Pelli, M., Pelster, M., Pérignon, C., Pfiffer, C., Philip, R., Plíhal, T., Prakash, P., Press, O. A., Prodromou, T., Prokopczuk, M., Putnins, T., Qian, Y., Raizada, G., Rakowski, D., Ranaldo, A., Regis, L., Reitz, S., Renault, T., Renjie, R. W., Reno, R., Riddiough, S. J., Rinne, K., Rintamäki, P., Riordan, R., Rittmannsberger, T., Longarela, I. R., Roesch, D., Rognone, L., Roseman, B., Roşu, I., Roy, S., Rudolf, N., Rush, S. R., Rzayev, K., Rzeźnik, A. A., Sanford, A., Sankaran, H., Sarkar, A., Sarno, L., Scaillet, O., Scharnowski, S., Schenk-Hoppé, K. R., Schertler, A., Schneider, M., Schroeder, F., Schürhoff, N., Schuster, P., Schwarz, M. A., Seasholes, M. S., Seeger, N. J., Shachar, O., Shkilko, A., Shui, J., Sikic, M., Simion, G., Smales, L. A., Söderlind, P., Sojli, E., Sokolov, K., Sönksen, J., Spokeviciute, L., Stefanova, D., Subrahmanyam, M. G., Szaszi, B., Talavera, O., Tang, Y., Taylor, N., Tham, W. W., Theissen, E., Thimme, J., Tonks, I., Tran, H., Trapin, L., Trolle, A. B., Vaduva, M. A., Valente, G., Ness, R. A. V., Vasquez, A., Verousis, T., Verwijmeren, P., Vilhelmsson, A., Vilkov, G., Vladimirov, V., Vogel, S., Voigt, S., Wagner, W., Walther, T., Weiss, P., Wel, M. V. D., Werner, I. M., Westerholm, P. J., Westheide, C., Wika, H. C., Wipplinger, E., Wolf, M., Wolff, C. C. P., Wolk, L., Wong, W. K., Wrampelmeyer, J., Wu, Z. X., Xia, S., Xiu, D., Xu, K., Xu, C., Yadav, P. K., Yagüe, J., Yan, C., Yang, A., Yoo, W., Yu, W., Yu, Y., Yu, S., Yueshen, B. Z., Yuferova, D., Zamojski, M., Zareei, A., Zeisberger, S. M., Zhang, L., Zhang, S. S., Zhang, X., Zhao, L., Zhong, Z., Zhou, Z. I., Zhou, C., Zhu, X. S., Zoican, M. & Zwinkels, R., 1 Jun 2024, In: Journal of Finance. 79, 3, p. 2339-2390 52 p.

    Research output: Contribution to journal › Article › peer-review

    Open Access

  • Non-Standard Errors

    Kazak, E., Kolokolov, A., Mu, L., Rognone, L., Schenk-Hoppé, K. R., Zhang, S. & et al., 1 Jun 2024, In: Journal of Finance. 79, 3, p. 2339-2390

    Research output: Contribution to journal › Article › peer-review

    Open Access
    6 Downloads (Pure)

  • Speed traps: Algorithmic trader performance under alternative market balances and structures

    Peng, Y., Shachat, J., Wei, L. & Zhang, S., 1 Apr 2024, In: Experimental Economics. 27, 2, p. 325-350 26 p.

    Research output: Contribution to journal › Article › peer-review

    Open Access

  • Legal Tech and Lawtech: Towards a Framework for Technological Trends in the Legal Services Industry

    Harper, C. & Zhang, S., 5 Apr 2021, Market Engineering: Insights from Two Decades of Research on Markets and Information. Gimpel, H., Krämer, J., Neumann, D., Pfeiffer, J., Seifert, S., Teubner, T., Veit, D. & Weidlich, A. (eds.). 1 ed. Springer Nature, p. 183-197 15 p.

    Research output: Chapter in Book/Conference proceeding › Chapter › peer-review

    Open Access

  • News Sentiment in the Cryptocurrency Market: an Empirical Comparison with Forex

    Rognone, L., Hyde, S. & Zhang, S., 2020, In: International Review of Financial Analysis.

    Research output: Contribution to journal › Article › peer-review

View all 13 research outputs