Tim Baumgartner

Academic staff


Tim studied Mathematics and Economics ("Wirtschaftsmathematik") at Ulm University and at Fudan University, Shanghai. He has been a visiting researcher at the National University of Singapore from April to May 2023. Previously, Tim worked in Investment Banking and for a Big Four accounting firm.


Research Interests

  • Financial Markets
  • Market Microstructure
  • Forensic Finance
  • Empirical Asset Pricing
  • Market Manipulation
  • Derivatives
  • Crypto Assets


Working Papers

"Has Manipulation in the VIX Decreased?"

   with Andre Guettler.

   Conference Presentations:

  • Spanish Finance Association (AEFIN) Finance Forum 2021
  • AEFIN PhD Mentoring Day 2021
  • International Young Finance Scholars Conference (Peking University) 2021
  • German Finance Association (DGF) Annual Meeting 2021, Innsbruck
  • Swiss National Bank (SNB) Microstructure Conference 2021, Zurich
  • National University of Singapore Brown Bag Seminar 2023


"Trust in a Trustless Network: The Case of the Bitcoin Flash Crash on May 19, 2021"

   with Andre Guettler.

   Conference Presentations:

  • Spanish Finance Association (AEFIN) Finance Forum 2022, Santiago de Compostela
  • AEFIN PhD Mentoring Day 2022, Santiago de Compostela
  • British Accounting and Finance Association 2022, Bristol
  • Auckland Centre for Financial Research Conference on Derivative Markets 2022
  • MIT Golub Center for Finance and Policy (GCFP) 2022, Cambridge, MA
  • Boca Corporate Finance and Governance Conference, Boca Raton, FL
  • Paris December Finance Meeting 2022
  • Chain Workshop 2023, Blockchain Center Kassel University
  • Singapore Blockchain and Impact Conference 2023, Singapore Management University

It has been included into the discussion paper series of the Halle Institute for Economic Research (IWH).

There is also a short and non-technical Medium article covering our main findings.

Previous Title: "Bitcoin Flash Crash on May 19, 2021: What did really happen on Binance?"





  • Winter 2023/2024: Research in Finance
  • Winter 2023/2024: Fundamentals of Business Administration
  • Summer 2023: Valuation
  • Summer 2023: Project Class Asset Management
  • Winter 2022/2023: Research in Finance
  • Winter 2022/2023: Fundamentals of Business Administration
  • Winter 2022/2023: Business Unit Strategy and Corporate Finance
  • Summer 2022: Valuation
  • Summer 2022: Project Class Asset Management
  • Winter 2021/2022: Research in Finance
  • Winter 2021/2022: Introduction to Business Administration
  • Winter 2021/2022: Business Unit Strategy and Corporate Finance
  • Summer 2021: Valuation
  • Summer 2021: Project Class Asset Management


I offer Master thesis supervision for motivated students. Have a look at our proposals or feel free to bring your own idea.



Tim Baumgartner


Tim Baumgartner

Room: 203
Phone: +49 731 50 - 3 10 33
Fax:       +49 731 50 - 3 10 32

E-mail: tim.baumgartner@uni-ulm.de


Ulm University
Institute of Strategic Management and Finance
Helmholtzstraße 22
89081 Ulm