Venue: GLO Hotel Kluuvi, Kluuvikatu 4, 2nd floor
18:00 - 20:00 | WELCOME RECEPTION |
Opening words by the Dean of the Aalto University School of Business, Timo Korkeamäki. Food and drinks will be served. The conference room is located on the 2nd floor. |
Venue: Hotel Kämp, Pohjoisesplanadi 29, Meeting rooms Akseli & Jean, 2nd floor
09:00 - 09:20 | COFFEE |
09:20 - 10:40 | Session 1: Professionals' Beliefs & Portfolio Choice |
Chair: Mikael Paaso (Erasmus University Rotterdam) | |
Equity Return Expectations and Portfolios: Evidence from Large Asset Managers | |
Markus Ibert (Board of Governonrs of the Federal Reserve System) and Magnus Dahlquist (Stockholm School of Economics and CEPR) | |
Discussant: Vesa Pursiainen (University of St. Gallen and Swiss Finance Institute) | |
Partisanship and Portfolio Choice: Evidence from Mutual Funds | |
William Cassidy (University of Chicago Booth School of Business) and Blair Vorsatz (University of Chicago Booth School of Business) | |
Discussant: Sami Torstila (Aalto University) | |
10:40 - 11:00 | BREAK |
11:00 - 12:20 | Session 2: ESG |
Chair: Markku Kaustia (Aalto University) | |
Do Preferences for Sustainable Investments Differ Across Countries?
A Large-Scale Experiment in Five European Countries
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Paul Smeets (Maastricht University) ,Daniel Engler (University of Kassel) and Gunnar Gutsche (University of Kassel) | |
Discussant: Augustin Landier (HEC Paris) | |
Gender, Performance, and Promotion in the Labor Market for Commercial Bankers |
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Marco Ceccarelli (Maastricht University), Christoph Herpfer (Emory University) and Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven, NTNU, and CEPR) | |
Discussant: Renée Adams (Saïd Business School, University of Oxford) | |
12:20 - 13:40 | LUNCH |
13:40 - 15:40 | Session 3: Individual Investing |
Chair: Ville Rantala (University of Miami) | |
Misperceived Returns to Active Investing:
Evidence From a Field Experiment Among Retail Investors
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Ole-Andreas Elvik Næss (Centre for Applied Research at NHH (SNF)) and Ingar Haaland (University of Bergen and CESifo) | |
Discussant: Christine Laudenbach (SAFE Leibniz Institute for Financial Research and Goethe University) | |
Stock Market Stimulus | |
Toomas Laarits (NYU Stern School of Business), Robin Greenwood (Harvard Business School and NBER) and Jeffrey Wurgler (NYU Stern School of Business and NBER) | |
Discussant: Fabio Braggion (Tilburg University) | |
Inflation and Individual Investors’ Behavior: Evidence from the German Hyperinflation | |
Felix von Meyerinck (Tilburg University), Fabio Braggion (Tilburg University) and Nic Schaub (WHU – Otto Beisheim School of Management) | |
Discussant: Zhi Da (University of Notre Dame) | |
15:40 - 16:00 | BREAK |
16:00 - 17:00 | KEYNOTE SPEECH |
TBA | |
Uri Gneezy (Rady School of Management, University of California) | |
19:00 onwards |
DINNER Restaurant Nokka |
Kanavaranta 7 F, Helsinki |
Venue: Hotel Kämp, Pohjoisesplanadi 29,
Meeting rooms Akseli & Jean,
2nd floor
09:00 - 09:20 | COFFEE |
09:20 - 11:20 | Session 4: Demand Matters |
Chair: Peter Nyberg (Aalto University) | |
Mutual Fund Risk Shifting and Risk Anomalies | |
Xiao Han (Bayes Business School, City, University of London), Nikolai Roussanov (The Wharton School, University of Pennsylvania and NBER) and Hongxun Ruan (Guanghua School of Management, Peking University) | |
Discussant: Petri Jylhä (Aalto University) | |
Factor Demand and Factor Returns | |
Cameron Peng (London School of Economics and Political Science) and Chen Wang (Mendoza College of Business, University of Notre Dame) | |
Discussant: Ran Xing (Stockholm Business School) | |
What Drives Momentum and Reversal? Evidence from Day and Night Signals | |
Vincent Bogousslavsky (Carroll School of Management, Boston College), Yashar H. Barardehi (Argyros School of Business & Economics, Chapman University) and Dmitriy Muravyev (Eli Broad College of Business, Michigan State University) | |
Discussant: Amit Goyal (University of Lausanne) | |
11:20 - 11:40 | BREAK |
11:40 - 13:00 | Session 5: Experimental Finance |
Chair: Martin Weber (University of Mannheim) | |
Asset Pricing in a World of Imperfect Foresight | |
Felix Fattinger (Vienna University of Economics and Business), Peter Bossaerts (University of Melbourne and the University of Cambridge), Frans van den Bogaerde (IFM Investors) and Wenhao Yang (Chinese University of Hong Kong) | |
Discussant: Daniel Hauser (Aalto University) | |
Disposed to Be Overconfident | |
Katrin Gödker (Maastricht University) and Terrance Odean (Haas School of Business, University of California, Berkeley) | |
Discussant: Zwetelina Iliewa (University of Bonn) | |
13:00 - 13:05 | CLOSING WORDS |
13:05 - | LUNCH |
Venue: Presented in the conference room throughout the conference
This Time is Different: Investing Preferences in the Age of Robinhood | |
Valeria Fedyk (London Business School | |
Slow Belief Updating and the Disposition Effect | |
Aleksi Pitkäjärvi (Aalto University) | |
Diversification at Work: Evidence from Employee Stock Options | |
Matteo Vacca (Aalto University) | |
TBA | |
Juuso Nissinen (Aalto University) |
Program for HFS 2015
Program for HFS 2014