CONFERENCE PROGRAM
Program for the 11th Helsinki Finance Summit
Sunday, August 20, 2023
Venue: Solo Sokos Hotel Helsinki, Kluuvikatu 8, Helsinki. Blomsted hall, ground floor
| 18:00 - 20:00 | WELCOME RECEPTION |
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Opening words by the Dean of the Aalto University School of Business, Timo Korkeamäki. Food and drinks will be served. The venue is located on the ground floor of the conference hotel. |
Monday, August 21, 2023
Venue: Aalto University School of Business, Ekonominaukio 1, Espoo. Lecture halls V001 & V002, ground floor
| 09:00 - 09:15 | COFFEE |
| 09:15 - 09:20 | OPENING WORDS |
| Samuli Knüpfer, Chair of the Helsinki Finance Summit 2023 | |
| 09:20 - 10:40 | Session 1: Investor Demand |
| Chair: Matthijs Lof (Aalto University) | |
| The Making of Momentum: A Demand-System Perspective | |
| Paul Huebner (Stockholm School of Economics) | |
| Discussant: Petri Jylhä (Aalto University) | |
| Which Investors Drive Anomaly Returns and How? | |
| Stanislav Sokolinski (Broad College of Business, Michigan State University), Yizhang Li (Rutgers Business School) and Andrea Tamoni (Rutgers Business School) | |
| Discussant: Petra Vokata (Ohio State University) | |
| 10:40 - 11:00 | BREAK |
| 11:00 - 12:20 | Session 2: Retail Trading |
| Chair: Elias Rantapuska (Aalto University) | |
| Are Cryptos Different? Evidence from Retail Trading
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| Marina Niessner (Wharton School, University of Pennsylvania) ,Shimon Kogan (Arison School of Business, Reichman University and the Wharton School), Igor Makarov (London School of Economics) and Antoinette Schoar (Sloan School of Business, MIT) | |
| Discussant: Ville Rantala (University of Miami) | |
| Stakes and Investor Behaviors |
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| Pengfei Sui (School of Economics and Management, Chinese University of Hong Kong) and Baolian Wang (Warrington College of Business, University of Florida) | |
| Discussant: Sam Hirshman (Norwegian School of Economics) | |
| 12:20 - 13:40 | LUNCH |
| 13:40 - 15:00 | Session 3: Anomalies |
| Chair: Matti Suominen (Aalto University) | |
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Anomalies and Their Short-Sale Costs
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| Neil Pearson (University of Illinois at Urbana-Champaign and Canadian Derivatives Institute) , Dmitriy Muravyev (Broad College of Business, Michigan State University and Canadian Derivatives Institute) and Joshua Pollet (University of Illinois at Urbana-Champaign) | |
| Discussant: Pedro Saffi (Judge Business School, University of Cambridge) | |
| The Cross-Section of Subjective Expectations: Understanding Prices and Anomalies | |
| Ricardo De la O (Marshall School of Business, University of Southern California) , Xiao Han (Bayes Business School, City University London) and Sean Myers (Wharton School, University of Pennsylvania) | |
| Discussant: Michael Ungeheuer (Aalto University) | |
| 15:00 - 15:20 | BREAK |
| 15:20 - 16:40 | Session 4: Corporate Valuation and Investment |
| Chair: Renée Adams (Saïd Business School, University of Oxford) | |
| Corporate Valuation: An Empirical Comparison of Discounting Methods | |
| Augustin Landier (HEC Paris), Nicolas Hommel (Princeton University) and David Thesmar (MIT, NBER and CEPR) | |
| Discussant: Peter Nyberg (Aalto University) | |
| The Horizon of Investors’ Information and Corporate Investment | |
| Olivier Dessaint (INSEAD), Thierry Foucault (HEC Paris) and Laurent Frésard (Università della Svizzera Italiana, Swiss Finance Institute) | |
| Discussant: Tomislav Ladika (University of Amsterdam) | |
| 19:00 onwards |
DINNER Restaurant Sekel |
| Bulevardi 7, Helsinki |
Tuesday, August 22, 2023
Venue: Aalto University School of
Business, Ekonominaukio 1, Espoo. Lecture halls V001 & V002, ground floor
| 09:00 - 09:20 | COFFEE |
| 09:20 - 10:40 | Session 5: ESG |
| Chair: Mikko Leppämäki (Aalto University) | |
| Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms | |
| Samuel Hartzmark (Boston College and NBER) and Kelly Shue (Yale School of Management and NBER) | |
| Discussant: Philippe Krüger (University of Geneva) | |
| ESG Investing: A Tale of Two Preferences | |
| Paul Yoo (Kogod School of Business, American University) | |
| Discussant: Tuomas Tomunen (Boston College) | |
| 10:40 - 11:00 | BREAK |
| 11:00 - 12:20 | Session 6: Expectations |
| Chair: Matti Keloharju (Aalto University) | |
| Extrapolators and Contrarians: Forecast Bias and Household Equity Trading | |
| Steffen Andersen (Copenhagen Business School and CEPR), Stephen Dimmock (National University of Singapore), Kasper Meisner Nielsen (Copenhagen Business School) and Kim Peijnenburg (EDHEC Business School and CEPR) | |
| Discussant: Theresa Spickers (University of Amsterdam) | |
| Inflation, Net Nominal Positions, and Consumption | |
| Philip Schnorpfeil (Goethe University Frankfurt), Michael Weber (Booth School of Business, University of Chicago, CEPR and NBER) and Andreas Hackethal (Goethe University Frankfurt and SAFE) | |
| Discussant: Katrin Gödker (Bocconi University) | |
| 12:20 - 12:25 | CLOSING WORDS |
| 12:25 - | LUNCH |
POSTER SESSION
Venue: Presented in the conference lobby area throughout the conference
| Narrative Persuasion | |
| Kai Barron (WZB Berlin) and Tilman Fries (WZB Berlin) | |
| Revisiting Discount Rates: New Evidence from Surveys | |
| Phillipp Gnan (WU Vienna University of Economics and Business) and Maximilian Schleritzko (Vienna Graduate School of Finance) | |
| To the Moon or Bust: Do Retail Investors Profit From Social Media-Induced Trading? | |
| Botir Kobilov (Harvard Business School) and Liran Eliner (Harvard Business School) | |
| Insider Trading with Options | |
| Matteo Vacca (Aalto University) |
See also the programs for previous Summits:
Program for HFS 2015
Program for HFS 2014