address / office:
C/ Madrid, 126 - 28903 Getafe (Madrid) Spain / 6.0.40
phone / fax:
(34) 91 624 96 39 / (34) 91 624 96 07
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Professor of Finance


1996. PhD Economics. Universidad del País Vasco.

1992. MA in Economics. Universidad del País Vasco.

1990. BA in Economics. Universidad del País Vasco.

Research interests

Market Microstructure


Algo and High Frequency Trading

Selected publications

Ultra-Fast Activity and Intraday Market Quality, (with Cartea, A., Payne, R. and  J. Penalva).  Journal of Banking and Finance, 99, 2019, pp 157-181.

Modeling the shape of the limit order book, (with Platania, F. and P. Serrano). Quantitative Finance,18, 2018, pp 1575-1597

Fragmentation vs. consolidation in Spanish Stock Exchange. A note. The Spanish Review of Financial Economics, 15, 2017, pp. 33–39.

Globalization, Superstars, and Reputation: Theory & Evidence from the Wine Industry,  (with Gibbs, M., and  F. Warzynski). Journal of Wine Economics, 4, 2009, pp. 50–65.

Disclosure and Liquidity in a Driven by Orders Market: Empirical Evidence from Panel Data, (with Espinosa, M., and M. Trombetta). Investigaciones Económicas, vol.XXXII, 2008, pp.339-370.

Price Dynamics, Informational Efficiency and Wealth Distribution in Continuous Double Auction Markets, (with Gil-Bazo, J., and D. Moreno). Computational Intelligence, 23, 2007, pp. 176-196.

Asset Pricing and Systematic Liquidity Risk: an Empirical Investigation of the Spanish Stock Market (with Martínez, M. A., B. Nieto, and G. Rubio). International Review of Economics & Finance, 14. 2005, pp. 81-103.

Adverse Selection Costs, Trading Activity and Liquidity in the NYSE: An Empirical Analysis (with Pascual, R., and A. Escribano). Journal of Banking and Finance, 28. 2004, pp. 107-128. 
Mikel Tapia is Professor of Finance at UC3M. His research and teaching activities have focused on the study of the market design in liquidity and asset prices. His results has been published in journals such as the Journal of Banking and Finance or Quantitative Finance