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  2. Dr Tomasz Wisniewski

Dr Tomasz Wisniewski

Profile summary

Professional biography

I joined the Open University in June 2018, having previously taught at the University of Leicester and Auckland University of Technology in New Zealand. I hold a first class BSc in Economics from the University of Hull, an MSc in Finance and Economics from the London School of Economics and Political Science, a PhD in Finance from the European University Viadrina (Germany) and a PG Cert. in Academic Practice in Higher Education from the University of Leicester.

Research interests

My primary research interests revolve around asset pricing and investment strategies. More specifically, I am interested in whether stock prices reflect available information efficiently or merely follow the behavioural tendencies of traders. In my early work, I focused on informational asymmetries and the impact of insider trading on market microstructure. More recently, I have concentrated my research efforts on examining the interplay between stock markets and political developments. Several of my publications also investigate the use of technology in payment systems and banking.  

Teaching interests

I have extensive experience in teaching stock market analysis, equity valuation, portfolio management, financial analysis, investment, international finance, derivatives and risk management, as well as econometrics and statistics. I have taught at both undergraduate and postgraduate levels utilising the face-to-face and distance learning modes of delivery.

Impact and engagement

I have acted as a reviewer for nearly 40 academic journals, including Accounting Forum, British Accounting Review, Economic Modelling, European Financial Management, European Journal of Finance, Financial Review, International Review of Economics and Finance, International Review of Financial Analysis, Journal of Banking and Finance, Journal of Economic Behavior and Organization, Journal of Economic Studies, Quantitative Finance, Quarterly Review of Economics and Finance, and Service Industries Journal.

My research findings have been reported on in many media outlets, including Reuters, Bloomberg, Financial Times Deutschland, Voice of America, The Economist, CNBC, The Huffington Post, Boston Globe, NASDAQ’s web page, The Globe and Mail (Canada), De Pers (Netherlands), El Cronista (Argentina), Les Echos (France), De Standaard (Belgium), Morgenbladet (Norway), Arab Times (Kuwait), Sydney Morning Herald (Australia), Brisbane Times (Australia), Canberra Times (Australia), Deutsche Welle (Germany), L'Économiste (Morocco), Bermuda Sun, Oman Daily Observer, Brunei Times, The Gulf (cover story), Pakistan Today and CoinDesk.


Perceptions of the threat to national security and the stock market (2021-06)
Omar, Ayman M. A.; Lambe, Brendan J. and Wisniewski, Tomasz Piotr
Journal of Economic Behaviour and Organization, 186 (pp. 504-522)

The Influence of General Strikes against Government on Stock Market Behavior (2020-02)
Wisniewski, Tomasz Piotr; Lambe, Brendan John and Dias, Alexandra
Scottish Journal of Political Economy, 67(1) (pp. 72-99)

Government debt expansion and stock returns (2020)
Wisniewski, Tomasz Piotr and Jackson, Peter M.
International Journal of Finance and Economics, 26(4) (pp. 5017-5030)

Do Stock Market Fluctuations Affect Suicide Rates? (2020)
Wisniewski, Tomasz Piotr; Lambe, Brendan John and Shrestha, Keshab
Journal of Financial Research, 43(4) (pp. 737-765)

Psychopathic Traits of Corporate Leadership as Predictors of Future Stock Returns (2019-11-01)
Omar, Ayman M.A.; Wisniewski, Tomasz Piotr and Yekini, Liafisu Sina
European Financial Management, 25(5) (pp. 1196-1228)

Does a manager’s gender matter when accessing credit? Evidence from European data (2017-07-31)
Moro, Andrea; Wisniewski, Tomasz Piotr and Mantovani, Guido Massimiliano
Journal of Banking and Finance, 80 (pp. 119-134)

Diversifying away the risk of war and cross-border political crisis (2017-05-31)
Omar, Ayman M. A.; Wisniewski, Tomasz Piotr and Nolte, Sandra
Energy Economics, 64 (pp. 494-510)

Market reaction to positiveness of annual report narratives (2016-12)
Yekini, Liafisu Sina; Wisniewski, Tomasz Piotr and Millo, Yuval
British Accounting Review, 48(4) (pp. 415-430)

Is there a link between politics and stock returns? A literature survey (2016-10)
Wisniewski, Tomasz Piotr
International Review of Financial Analysis, 47 (pp. 15-23)

Stock market returns and the content of annual report narratives (2015-12)
Wisniewski, Tomasz Piotr and Yekini, Liafisu Sina
Accounting Forum, 39(4) (pp. 281-294)

Does economic policy uncertainty drive CDS spreads? (2015-12)
Wisniewski, Tomasz Piotr and Lambe, Brendan John
International Review of Financial Analysis, 42 (pp. 447-458)

The gold price in times of crisis (2015-10-31)
Białkowski, Jędrzej; Bohl, Martin T.; Stephan, Patrick M. and Wisniewski, Tomasz P.
International Review of Financial Analysis, 41 (pp. 329-339)

Price Fluctuations and the Use of Bitcoin: An Empirical Inquiry (2015)
Polasik, Michal; Piotrowska, Anna Iwona; Wisniewski, Tomasz; Kotowski, Radoslaw and Lightfoot, Geoffrey
International Journal of Electronic Commerce, 20(1) (pp. 9-49)

Political environment and foreign direct investment: Evidence from OECD countries (2014-12)
Wisniewski, Tomasz P. and Pathan, Saima K.
European Journal of Political Economy, 36 (pp. 13-23)

Information asymmetry and power in a surveillance society (2014-10)
Lightfoot, Geoffrey and Wisniewski, Tomasz Piotr
Information and Organization, 24(4) (pp. 214-235)

When EU Leaders Speak, the Markets Listen (2014)
Wisniewski, Tomasz Piotr and Moro, Andrea
European Accounting Review, 23(4) (pp. 519-551)

Do mutual fund managers exploit the Ramadan anomaly? Evidence from Turkey (2013-06)
Białkowski, Jędrzej; Bohl, Martin T.; Kaufmann, Philipp and Wisniewski, Tomasz P.
Emerging Markets Review, 15 (pp. 211-232)

The role of media in the credit crunch: The case of the banking sector (2013-01)
Wisniewski, Tomasz Piotr and Lambe, Brendan
Journal of Economic Behavior and Organization, 85 (pp. 163-175)

Another look at the uncovered interest rate parity: Have we missed the fundamentals? (2012-09)
Pikoulakis, Emmanuel V. and Wisniewski, Tomasz Piotr
Economics Letters, 116(3) (pp. 476-479)

Fast profits: Investor sentiment and stock returns during Ramadan (2012-03)
Bialkowski, Jedrzej; Etebari, Ahmad and Wisniewski, Tomasz Piotr
Journal of Banking and Finance, 36(3) (pp. 835-845)

Speculating on presidential success: exploring the link between price-earnings ratio and approval ratings (2012-01)
Wisniewski, Tomasz Piotr; Lightfoot, Geoffrey and Lilley, Simon
Journal of Economics and Finance, 36(1) (pp. 106-122)

Modelling customers’ intentions to use contactless cards (2012)
Polasik, Michal; Wisniewski, Tomasz Piotr and Lightfoot, Geoffrey
International Journal of Banking, Accounting and Finance, 4(3) (pp. 203-231)

Can political factors explain the behaviour of stock prices beyond the standard present value models? (2009)
Wisniewski, Tomasz Piotr
Applied Financial Economics, 19(23) (pp. 1873-1884)

Empirical analysis of internet banking adoption in Poland (2009)
Polasik, Michael and Wisniewski, Tomasz Piotr
International Journal of Bank Marketing, 27(1) (pp. 32-52)

Stock market volatility around national elections (2008)
Białkowski, Jędrzej; Gottschalk, Katrin and Wisniewski, Tomasz Piotr
Journal of Banking and Finance, 32(9) (pp. 1941-1953)

Insiders and the Law: The Impact of Regulatory Change on Insider Trading (2007-09)
Gilbert, Aaron; Tourani-Rad, Alireza and Wisniewski, Tomasz Piotr
Management International Review, 47(5) (pp. 745-765)

Political orientation of government and stock market returns (2007)
Bialkowski, Jedrzej; Gottschalk, Katrin and Wisniewski, Tomasz Piotr
Applied Financial Economics Letters, 3(4) (pp. 269-273)

Do Insiders Crowd out Analysts? (2006-03)
Gilbert, Aaron; Tourani-Rad, Alireza and Wisniewski, Tomasz
Finance Research Letters, 3(1) (pp. 40-48)

The Information Content of Registered Insider Trading under Lax Law Enforcement (2005-06)
Wisniewski, Tomasz Piotr and Bohl, Martin T.
International Review of Law and Economics, 25(2) (pp. 169-185)

Reexamination of the link between insider trading and price efficiency (2004-06)
Wisniewski, Tomasz P.
Economic Systems, 28(2) (pp. 209-228)

Insiders' Market Timing and Real Activity: Evidence from an Emerging Market (2005)
Wisniewski, Tomasz Piotr
In: Motamen-Samadian, S. ed. Risk Management in Emerging Markets. Centre for the Study of Emerging Markets Series (pp. 71-89)
ISBN : 978-1-4039-9153-9 | Publisher : Palgrave MacMillan

The impact of regulatory change on insider trading profitability: some early evidence from New Zealand (2005)
Gilbert, A.; Tourani-Rad, A. and Wisniewski, T. P.
In: Hirschey, Mark; John, Kose and Makhija, Anil K. eds. Corporate Governance: A Global Perspective. Advances in Financial Economics (pp. 113-130)
ISBN : 9780762311873 | Publisher : Emerald Group Publishing Limited