Program for the 8th Helsinki Finance Summit

Sunday August 19, 2018

Venue: Kappeli Cellar, Eteläesplanadi 1, Esplanadi Park


Opening words by the Head of the Department of Finance, Vesa Puttonen, and the Program Committee Chair, Elias Rantapuska, Aalto University School of Business.

Food and drink will be served. The reception will be held in Kappeli Cellar, which is located in the Esplanadi Park. The address is Eteläesplanadi 1. The entrance to the Cellar is from the east side of the building (see map).


Monday August 20, 2018

Venue: Hotel Kämp, Meeting room Peilisali

08:40 - 09:00 COFFEE
09:00 - 10:20 Session 1: Don't Get Too Sentimental
  Chair: Markku Kaustia (Aalto University)
  Speculation Sentiment
  Shaun William Davies (University of Colorado)
  Discussant: Joni Kokkonen (Católica-Lisbon School of Business and Economics)
  When Paper Losses Get Physical: Domestic Violence and Stock Returns
  Tse-Chun Lin (University of Hong Kong) and Vesa Pursiainen (University of Hong Kong)
  Discussant: Ville Rantala (University of Miami)
10:20 - 10:40 BREAK
10:40 - 12:00 Session 2: Out of This World Investment: Stars and Negative Net Expected Returns
  Chair: Harrison Hong (Columbia University)
  Models or Stars: The Role of Asset Pricing Models and Heuristics in Investor Risk Adjustment
  Yang Sun (Brandeis University) and Richard B. Evans (University of Virginia)
  Discussant: Michael Ungeheuer (Aalto University)
  Engineering Lemons
  Petra Vokatá (Aalto University)
  Discussant: Matti Ilmanen (Bank of Finland)
12:00 - 13:20 LUNCH
Foyer lobby on the 2nd floor
13:20 - 14:40 Session 3: Beliefs
  Chair: Elias Rantapuska (Aalto University)
  The Long-Lasting Effects of Experiencing Communism on Financial Risk-Taking
  Christine Laudenbach (Goethe University), Ulrike Malmendier (UC Berkeley) and Alexandra Niessen-Ruenzi (University of Mannheim)
  Discussant: Rawley Z. Heimer (Boston College)
  What Matters to Individual Investors? Evidence from the Horse's Mouth
  Adriana Robertson (University of Toronto) and James J. Choi (Yale University and NBER)
  Discussant: Richard B. Evans (University of Virginia)
14:40 - 15:00 BREAK
15:00 - 16:00 KEYNOTE SPEECH
  Corporate Actions and the Manipulation of Retail Investors
  Sheridan Titman (University of Texas at Austin)
Restaurant Lonna, on Lonna Island
  OPTION 1: Sightsee Suomenlinna Sea Fortress with the organizers briefly before the dinner. This group will meet in front of Hotel Kämp at 16:40. The JT-Line waterbus departs at 17:00 from the Market Square and takes you to Suomenlinna. We will catch another waterbus to Lonna from Suomenlinna after a short sightseeing tour.

OPTION 2: Go straight to the dinner. Please be at the Market Square by 17:45 to catch the 18:00 waterbus to Lonna.
  More information about the dinner


Tuesday August 21, 2018

Venue: Hotel Kämp, Meeting room Peilisali

09:00 - 09:20 COFFEE
09:20 - 10:40 Session 4: Access to Finance
Chair: Sami Torstila (Aalto University)
Banking the Unbanked: What Do 255 Million New Bank Accounts Reveal about Financial Access?
Shashwat Alok (Indian School of Business), Sumit Agarwal (Georgetown University), Pulak Ghosh (Indian Institute of Management), Soumya Kanti Ghosh (State Bank of India), Tomsz Piskorksi (Columbia Graduate School of Business and NBER) and Amit Seru (Stanford Graduate School of Business, Hoover Institution, SIEPR and NBER)
Discussant: Niilo Luotonen (Hanken Centre for Corporate Governance)
Doing Less with More
  Rawley Z. Heimer (Boston College) and Alex Imas (Carnegie Mellon and University of Chicago)
  Discussant: Samuli Knüpfer (BI Norwegian Business School)
10:40 - 11:00 BREAK
11:00 - 12:20 Session 5: Margin(al) Investors
  Chair: Matti Keloharju (Aalto University)
  Leverage Networks and Market Contagion
Jiangze Bian (University of International Business and Economics), Zhi Da (University of Notre Dame), Dong Lou (London School of Economics and CEPR) and Hao Zhou (PBC School of Finance, Tsinghua University)
  Discussant: Tuugi Chuluun (Loyola University Maryland)
  Attention to Global Warming
  Zhenyu Gao (CUHK Business School, The Chinese University of Hong Kong), Darwin Choi (CUHK Business School, The Chinese University of Hong Kong) and Wenxi Jiang (CUHK Business School, The Chinese University of Hong Kong)
  Discussant: Adriaan Perrels (Finnish Meteorological Institute)
12:20 - 12:25 CLOSING WORDS
12:25 - LUNCH
Foyer lobby on the 2nd floor


Venue: Presented in the conference room throughout the conference

  Perfect Pitch: Entrepreneur Appearance and Early-Stage Investors
  Mikael Paaso (Aalto University) and Elina Koivisto (Aalto University)
  Cultural Biases in Equity Analysis
  Vesa Pursiainen (University of Hong Kong)
  To Weather the Storm or not? Volatility Changes and the Disposition Effect
  Ellapulli Vasudevan (Aalto University)
  Friends at WSJ: Journalist Connections, News Tone, and Stock Returns
  Guosong Xu (WHU - Otto Beisheim School of Management)


See also the programs for previous Summits:

Program for HFS 2017

Program for HFS 2016

Program for HFS 2015

Program for HFS 2014

Program for HFS 2013

Program for HFS 2012

Program for HFS 2011