Venue: Kappeli Cellar, Eteläesplanadi 1, Esplanadi Park
18:00 - 20:00 | WELCOME RECEPTION KAPPELI CELLAR |
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).
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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 |
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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 |
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Yang Sun (Brandeis University) and Richard B. Evans (University of Virginia) | |
Discussant: Michael Ungeheuer (Aalto University) | |
Engineering Lemons |
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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 |
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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) | |
18:30 onwards |
DINNER 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. |
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More information about the dinner |
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) |
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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) |
Program for HFS 2015
Program for HFS 2014