Michael Murg

Dr. Michael Murg is Chair of the Institute of Banking and Insurance Industry and the Head of the Degree Programmes Banking and Insurance Industries (Bachelor) and Banking and Insurance Management.

Dr. Murg graduated at the University of Applied Sciences Joanneum, Graz in Banking and Insurance Industries, holds a M.Sc. with specialization in Finance from the University of Graz, a MBA from the Josef Schumpeter Institute and a PhD with honors in Finance from University of Graz. Michael has more than 10 years’ experience as a financial advisor for private wealth management and corporate finance and spent several years in the financial industry. His scientific career began at the Department of Finance, University of Graz, where Michael was a Quantitative Research Scientist and Lecturer for Finance. He is licensed exchange trader for spot and derivative markets (XETRA) and was the Head of Portfolio and Risk Management in a FinTech company before returning to FH JOANNEUM.
Furthermore Dr. Murg is Court certified expert witness for money matters, currency matters, stock exchange matters, banking, securities transactions, fund transactions incl. advice and settlement, derivative financial products, investment advice, credit cooperatives, savings banks, lending, insurance brokers, insurance, cryptocurrencies and cryptoassets.

Current research focuses on the digitization of business models in finance, banking and insurance industries, innovation management in insurance companies and banks, digitization of business processes, data analytics, FinTech and InsureTechs, and financial education.
His research has been published in international journals as well as in co-authored books.



Publications in peer reviewed Journals and Conference Proceedings

Gheceva, S., Maček, A., Murg, M. Impact of Natural Disasters on the Value of (Re)Insurance Companies. Zeitschrift für die gesamte Versicherungswissenschaft, 112(4), 337-368. https://doi.org/10.3790/zverswiss.2023.1432801

"Algorithmic trading and liquidity: Long term evidence from Austria" (with Roland Mestel and Erik Theissen), Finance Research Letters, 2018, https://doi.org/10.1016/j.frl.2018.01.004 .

“Intraday effects of analysts’ recommendations on international stock markets. Does legislation influence information efficiency?”, Annual International Conference on Accounting and Finance – Conference Proceedings, 2016, DOI: 10.5176/2251-1997_AF16.19.

“A Combined Regime Switching and Black-Litterman Model for Optimal Asset Allocation” (with Edwin O. Fischer), Journal of Investment Strategies, Vol 4, 3, 2015, 1-36.

„The impact of analyst recommendations on stock prices in Austria (2000-1014): evidence from a small and thinly traded market“ (with M. Pachler und A. Zeitlberger), Central European Journal of Operations Research, Published online 08/2014.

“Impacts of analyst recommendations on Austrian and German stocks: Information leaks, overreaction, and the influence of firm size.” (with A. Zeitlberger), Journal of Banking and Financial Research (Bankarchiv), 2014.

Maček, A., Murg, M., & Čič, Ž. V. (2020). How robotic process automation is revolutionizing the banking sector. In Managing customer experiences in an omnichannel world: Melody of online and offline environments in the customer journey (pp. 271-286). Emerald Publishing Limited.

Books and Book Chapters

"Banking and Finance" as Eds. (with Haron, R., Husin, M. M.) (Eds.). InTechOpen, 2020.

“Zur Bedeutung der Volatilitätsschätzung bei der Bewertung von Kreditrisiken” (with Roland Mestel), In: Alexander Brauneis; Gudrun Fritz-Schmied; Sabine Kanduth-Kristen; Tanja Schuschnig; Reinhard Schwarz (Hg.): Bewertung von Unternehmen. Wien. Linde Verlag, 2016.

“Market Abuse and Price Manipulation on Security Markets” (with Marija Corluka), LAP Lambert Publishing, 2015, ISBN: 978-365969257.