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Dr. Benjamin Clapham

Telephone: | +49 (0)69 798-33870 |
E-Mail: | |
Room: | IKB-Building, 5th Floor, Room 5880 Eschersheimer Landstraße 121 60322 Frankfurt am Main |
Office Hours: | On Appointment |
After having studied economics and business administration, Benjamin Clapham successfully completed his doctorate in finance and information systems at Goethe University Frankfurt in November 2019. In his dissertation, he analyzed the integrity and efficiency of electronic securities markets. Since then, he has been working as a postdoctoral researcher at the Chair of e-Finance. His research interests are empirical financial market research, financial market regulation, and the automated detection of market manipulation.
Research Interests:
Market Microstructure
High-Frequency Trading
Securities Regulation
Market Manipulation
Publications:
Scientific Journals Menkveld, Albert J.; Dreber, Anna; Holzmeister, Felix; Huber, Juergen; Johannesson, Magnus; Kirchler, Michael; Neusüss, Sebastian; Razen, Michael; Weitzel, Utz; Clapham, Benjamin; Lausen, Jens; et al. Clapham, Benjamin; Haferkorn, Martin; Zimmermann, Kai
Clapham, Benjamin; Bender, Micha; Lausen, Jens; Gomber, Peter |
Bender, Micha; Clapham, Benjamin; Gomber, Peter; Koch, Jascha-Alexander
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Clapham, Benjamin; Siering, Michael; Gomber, Peter |
Clapham, Benjamin; Gomber, Peter; Lausen, Jens; Panz, Sven |
Clapham, Benjamin; Haferkorn, Martin; Zimmermann, Kai |
Lausen, Jens; Clapham, Benjamin; Siering, Michael; Gomber, Peter |
Siering, Michael; Clapham, Benjamin; Engel, Oliver; Gomber, Peter |
Clapham, Benjamin; Zimmermann, Kai |
Practitioner Journals |
Gomber, Peter; Clapham, Benjamin; Lausen, Jens; Panz, Sven |
Gomber, Peter; Clapham, Benjamin; Haferkorn, Martin; Panz, Sven; Jentsch, Paul |
Conference Proceedings Lausen, Jens; Clapham, Benjamin |
Gomber, Peter; Clapham, Benjamin; Lausen, Jens; Panz, Sven |
Books and Chapters in Books |
Gomber, Peter; Clapham, Benjamin |
Clapham, Benjamin; Koch, Jascha-Alexander |
Clapham, Benjamin |
Groß, Georg; Gomber, Peter; Lausen, Jens; Clapham, Benjamin |
Working Papers |
Lausen, Jens; Clapham, Benjamin; Gomber, Peter; Bender, Micha |
Clapham, Benjamin |
Clapham, Benjamin; Gomber, Peter; Panz, Sven |
Clapham, Benjamin; Gomber, Peter; Haferkorn, Martin; Panz, Sven |
Miscellaneous Clapham, Benjamin; Bender, Micha; Lausen, Jens; Gomber, Peter |
Clapham, Benjamin; Siering, Michael; Gomber, Peter |
Gomber, Peter; Clapham, Benjamin; Panz, Sven |
Clapham, Benjamin; Gomber, Peter; Lausen, Jens; Panz, Sven |
Gomber, Peter; Clapham, Benjamin; Haferkorn, Martin; Panz, Sven; Jentsch, Paul |
Clapham, Benjamin; Haferkorn, Martin; Zimmermann, Kai |
Journal articles
Menkveld, A. J., Dreber, A., Holzmeister, F., Huber, J., Johannesson, M., Kirchler, M., ... Lausen, J. (2023). Non-Standard Errors. The Journal of Finance, forthcoming. |
Clapham, B., Haferkorn, M., Zimmermann, K. (2023). The Impact of High-Frequency Trading on Modern Securities Markets – An Analysis Based on a Technical Interruption. Business & Information Systems Engineering, 65 (1), 7-24. Link |
Clapham, B., Bender, M., Lausen, J., Gomber, P. (2022). Policy Making in the Financial Industry: A Framework for Regulatory Impact Analysis Using Textual Analysis. Journal of Business Economics, forthcoming. Link |
Clapham, B., Bender, M., Gomber, P., Koch, J.-A. (2021). To Bundle or Not to Bundle? A Review of Soft Commissions and Research Unbundling. Financial Analysts' Journal, 77 (3), 69-92. |
Bender, M., Clapham, B., Gomber, P., Koch, J.-A. (2021). To Bundle or Not to Bundle? A Review of Soft Commissions and Research Unbundling. Financial Analysts' Journal, 77 (3), 69-92. Link |
Clapham, B., Siering, M., Gomber, P. (2021). Popular News Are Relevant News! How Investor Attention Affects Algorithmic Decision-Making and Decision Support in Financial Markets. Information Systems Frontiers, 23 (2), 477–494. Link |
Gomber, P., Clapham, B., Lausen, J., Panz, S. (2021). Liquidity Provider Incentives in Fragmented Securities Markets. Journal of Empirical Finance, 60, 16-38. Link |
Clapham, B., Haferkorn, M., Zimmermann, K. (2020). Does Speed Matter? The Role of High-Frequency Trading for Order Book Resiliency. Journal of Financial Research, 43 (4), 933-964. Link |
Lausen, J., Clapham, B., Siering, M., Gomber, P. (2020). Who Is the Next "Wolf of Wall Street"? Detection of Financial Intermediary Misconduct. Journal of the Association for Information Systems, 21 (5), Article 7. Link |
Gomber, P., Clapham, B., Lausen, J., Panz, S. (2018). The Impact of MiFID II/MiFIR on European Market Structure: A Survey among Market Experts. The Journal of Trading, 13 (2), 35-46. |
Siering, M., Clapham, B., Engel, O., Gomber, P. (2017). A Taxonomy of Financial Market Manipulations: Establishing Trust and Market Integrity in the Financialized Economy Through Automated Fraud Detection. Journal of Information Technology, 32 (3), 251-269. Link |
Clapham, B., Zimmermann, K. (2016). Price discovery and convergence in fragmented securities markets. International Journal of Managerial Finance, 12 (4), 381-407. Link |
Monographs
Clapham, B. (2019). Integrity and Efficiency of Electronic Securities Markets - Fraud Detection, Safeguards, and the role of High-Frequency Trading., Frankfurt, Germany. |
Book chapters
Clapham, B., Gomber, P. (2022). Die Börse im Zeitalter der Digitalisierung. In Floto-Degener, H., Rudolph, B. (Eds.), Von der Traditionsbörse zum digitalen Marktplatz – Die Frankfurter Wertpapierbörse und der Wertpapierhandel in Deutschland von der Weimarer Zeit bis ins 21. Jahrhundert (pp. 231-326). Franz Steiner. |
Groß, G., Gomber, P., Lausen, J., Clapham, B. (2018). Regulatory Reporting Solutions: (Mehr-)Wert aus regulatorischen Verpflichtungen schaffen. In Eisenhofer, A. & Brooimans, K. (Eds.), Handbuch Finanzinformationen: Der digitale Wandel und die naechste Generation von Finanzinformationssystemen (pp. 227-248). Finanzbuch Verlag. Link |
Contributions to Conference Proceedings
Clapham, B., Lausen, J. (2023). Give Them a Second Chance? Prediction of Recurrent Financial Intermediary Misconduct. Lecture Notes in Business Information Processing. |
Clapham, B., Koch, J.-A. (2020). Enterprise Applications, Markets and Services in the Finance Industry - Proceedings of the 10th International FinanceCom Workshop. Lecture Notes in Business Information Processing, Helsinki, Finland. Link |
Gomber, P., Clapham, B., Lausen, J., Panz, S. (2019). The MiFIR Trading Obligation: Impact on Trading Volume and Liquidity in Electronic Trading. Lecture Notes in Business Information Processing, Manchester, Great Britain. Link |
Applied Research
Clapham, B., Bender, M., Lausen, J., Gomber, P. (2023). Regulatory Impact Analysis in Case of Unstructured Data. efl insights, pp. 6-8. Link |
Clapham, B., Siering, M., Gomber, P. (2020). Investor Attention and Algorithmic Decision Making in Financial Markets. efl insights, pp. 6-8. |
Gomber, P., Clapham, B., Panz, S. (2018). Management of Market Price Risks: Regulation and Coordination of Volatility Interruptions in Europe. FIRM Yearbook, pp. 167-168. |
Gomber, P., Clapham, B., Lausen, J., Panz, S. (2018). The Impact of MiFID II/MiFIR on European Market Structure: A Survey among Market Experts. The Journal of Trading, 13 (2), 35-46. Link |
Clapham, B., Gomber, P., Lausen, J., Panz, S. (2018). Enhancing Market Liquidity through Liquidity Provider Incentives. EFL Quarterly, 2018 (1), 6-8. |
Gomber, P., Clapham, B., Haferkorn, M., Panz, S., Jentsch, P. (2017). Ensuring Market Integrity and Stability - Circuit Breakers on International Trading Venues. The Journal of Trading, 12 (1), 42-54. Link |
Clapham, B., Haferkorn, M., Zimmermann, K. (2015). The Role of High-Frequency Trading for Order Book Resiliency. EFL Quarterly, 2015 (4). |
Current position
From 2019: Postdoctoral Researcher, Chair of e-Finance (Prof. Dr. Peter Gomber) (Goethe University, Frankfurt, Germany) |
Former position
2015 - 2019: Teaching Assistant, Chair of e-Finance (Prof. Dr. Peter Gomber) (Goethe University, Frankfurt, Germany) |
Awards
2021: AIS Best Information Systems Publications Award (Association for Information Systems, Atlanta, United States of America) |
2020: FIRM Research Award for the dissertation "Integrity and Efficiency of Electronic Securities Markets: Fraud Detection, Safeguards, and the Role of High-Frequency Trading" (Frankfurt Institute for Risk Management and Regulation, Frankfurt, Germany) |
2020: Best Paper Award for the publication "Who Is the Next 'Wolf of Wall Street'? Detection of Financial Intermediary Misconduct", (Journal of the Association for Information Systems) |
2017: Plato MI3 Best Paper Award (Centre for Economic Policy Research, London, Great Britain) |
2015: Maravon Markets Award for the master's thesis "Price Discovery in Fragmented Markets - An Event Study Based on Trading Data from Deutsche Börse and BATS Chi-X Europe" (Maravon GmbH, Frankfurt, Germany) |
2013: QuestBack Science Award 2013 for the bachelor thesis "Financial Valuation of Facebook" (Duale Hochschule Baden-Württemberg, Stuttgart, Germany) |
Summer 2023
Microstructure of Financial Markets |
Winter 2022 / 2023
Microstructure of Financial Markets |