Research

Department of Finance

The Department of Finance has a strong international orientation, with faculty from leading schools in finance and economics. Our research is published in top journals and covers all areas of finance.

    • Cooper, Ilan; Mitrache, Andreea; Priestley, Richard

      A Global Macroeconomic Risk Model for Value, Momentum and Other Asset Classes

      Journal of Financial and Quantitative Analysis, forthcoming

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    • Nicole Branger, Patrick Konermann, Christoph Meinerding, and Christian Schlag

      Equilibrium Asset Pricing in Directed Networks

      Review of Finance, forthcoming

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    • Andreas Fagereng, Magne Mogstad and Marte Rønning

      Why do Wealthy Parents Have Wealthy Children?

      Journal of Political Economy, forthcoming

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    • Chen, Zhanhui and Cooper, Ilan and Ehling, Paul and Xiouros, Costas

      Risk Aversion Sensitive Real Business Cycles

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      Management Science. Forthcoming
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    • Andreas Fagereng, Luigi Guiso, Davide Malacrino & Luigi Pistaferri

      Heterogeneity and Persistence in Returns to Wealth

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      Econometrica, Vol. 88, No.1, 115–170, 2020.

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    • Anatasov, Victoria; Muller, Stig; Priestley, Richard

      Consumption Fluctuations and Expected Returns

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      Journal of Finance, Vol 73(3) p. 1677-1713. 2020.
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    • Nicole Branger, Patrick Konermann and Christian Schlag

      Optimists and Pessimists in (In)Complete Markets

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      Journal of Financial and Quantitative Analysis. Forthcoming.
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    • Øyvind Bøhren, Bogdan Stacescu, Line Almli and Kathrine L. Søndergaard

      When Does the Family Govern the Family Firm?

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      Journal of Quantitative and Financial Analysis. Forthcoming.
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    • Ilan Cooper and Paolo Maio

      New evidence on conditional factor models

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      Journal of Financial and Quantitative Analysis. Forthcoming.
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    • Espen Henriksen and Thomas Cooley

      The Demographic Deficit

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      Journal of Monetary Economics, forthcoming. 

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    • Ilan Cooper and Paulo Maio

      Asset Growth, Profitability, and Investment Opportunities

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      Management Science, Forthcoming.

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    • Sven Klingler and Suresh Sundaresan

      An Explanation of Negative Swap Spreads: Demand for Duration from Underfunded Pension Plans

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      Journal of Finance, forthcoming.
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    • Renee B. Adams, Matti Keloharju and Samuli Knüpfer

      Are CEOs Born Leaders? Lessons from Traits of a Million Individuals

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      Journal of Financial Economics. Volume 130(2), 392-408, 2018.
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    • Janis Berzins, Øyvind Bøhren and Bogdan Stacescu

      Shareholder Conflicts and Dividends

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      Review of Finance. Forthcoming.

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    • Paul Ehling, Alessandro Graniero, and Christian Heyerdahl-Larsen

      Asset Prices and Portfolio Choice with Learning from Experience

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      Review of Economic Studies, Volume 85, Issue 3, Pages 1752–1780, 2018. 
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    • Paul Ehling, Michael F. Gallmeyer, Sanjay Srivastava, Stathis Tompaidis, and Chunyu Yang

      Portfolio Tax Trading with Carry-Over Losses

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      Management Science. Volume 64, Pages 3971-4470, 2018.

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    • Hamid Boustanifar, Rett Grant and Ariell Reshef

      Wages and Human Capital in Finance: International Evidence, 1970-2011

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      Review of Finance. Volume 22, pp. 699–745, 2018.
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    • Paul Ehling, Michael F. Gallmeyer, Christian Heyerdahl-Larsen and Philipp Illeditsch

      Disagreement about inflation and the yield curve

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      Journal of Financial Economics. Volume 127, Issue 3, Pages 459-484, 2018.
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    • Ingolf Dittmann, Ko-Chia Yu and Danielle Zhang

      How Important are Risk-Taking Incentives in Executive Compensation?

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      Review of Finance. Volume 21(5), 1805-1846, 2017. (lead article)

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    • Samuli Knüpfer, Elias Henrikki Rantapuska and Matti Sarvimäki.

      Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression

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      Journal of Finance. Volume 72(1), pp. 133-166. 2017.

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    • Ibolya Schindele, Bent Vale and Charlotte Østergaard

      Social Capital and the Viability of Nonprofit Firms: Evidence from Savings Banks

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      Review of Finance, Volume 29(5), 1673-1718. 2016. (lead article)

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    • Ilan Cooper and Richard Priestley

      The Expected Returns and Valuations of Private and Public Firms

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      Journal of Financial Economics. Volume 120(1) pp. 41-57, 2016.

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    • Juan-Pedro Gomez, Richard Priestley, Fernando Zapatero

      Labor Income, Relative Wealth Concerns, and the Cross-Section of Stock Returns

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      Journal of Financial and Quantitative Analysis. Volume 51(4) pp. 1111-1133, 2016. 

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    • Mark Grinblatt, Seppo Ikäheimo, Matti Keloharju and Samuli Knüpfer

      IQ and Mutual Fund Choice

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      Management Science. Volume 62(4), pp. 924-944. 2016.

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    • Markku Kaustia, Samuli Knüpfer and Sami Torstila

      Stock Ownership and Political Behavior: Evidence from Demutualizations

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      Management Science. Volume 62(4), pp. 945-963. 2016.

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    • Esther Eiling and Bruno Gerard

      Emerging equity market comovements: trends and macroeconomic fundamentals

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      Review of Finance. Volume 19(4), p. 1543-1585. 2015.

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    • Øyvind Norli; Charlotte Ostergaard; Ibolya Schindele

      Liquidity and Shareholder Activism

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      Review of Financial Studies. Volume 28(2), p.486-520. 2015.

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    • Marcel Fratzscher, Dagfinn Rime, Lucio Sarno and Gabriele Zinna

      The Scapegoat Theory of Exchange Rates: The First Tests

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      Journal of Monetary Economics, vol. 70, pp. 1-21, 2015. 

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    • Karapetyan, Artashes; Stacescu, Bogdan

      Information Sharing and Information Acquisition in Credit Markets

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      Review of Finance. Volume 18(4), p.1583-1615. 2014.

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    • Berzins, Janis; Trzcinka, Charles; Liu, Crocker

      Asset management and investment banking

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      Journal of Financial Economics. Volume 110.(1) p. 215-231. 2013.

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    • Espen Henriksen, Finn Kydland and Roman Šustek

      Globally Correlated Nominal Fluctuations

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      Journal of Monetary Economics, Volume 60(6), pp. 613-631, 2013. 

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    • Cooper, Ilan; Priestley, Richard

      The World Business Cycle and Expected Returns

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      Review of Finance. Vol, 17.(3) p. 1029-106. 2013.

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    • Roche, Hervé; Tompaidis, Stathis; Yang, Chunyu

      Why does junior put all his eggs in one basket? A potential rational explanation for holding concentrated portfolios

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      Journal of Financial Economics 2013. Vol, 109.(3) p. 775-796. 2013.

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    • Chen, Long; Da, Zhi; Priestley, Richard

      Dividend Smoothing and Predictability

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      Management Science. Vol, 58.(10) p. 1834-1853, 2012.

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    • Eiling, Esther; Gerard, Bruno; de Roon, Frans

      Euro-zone equity returns: country versus industry effects

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      Review of Finance 2012. Vol, 16.(3) p. 755-798. 

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    • Garcia, Diego; Norli, Øyvind

      Geographic dispersion and stock returns

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      Journal of Financial Economics 2012. Vol, 106.(3) p. 547-565. 

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    • Garrett, I.; Priestley, Richard

      Dividend Growth, Cash Flow and Discount Rate News

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      Journal of Financial and Quantitative Analysis 2012. Vol, 47.(5) p. 1003-1028.  

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    • Cooper, Ilan; Priestley, Richard

      Real Investment and Risk Dynamics

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      Journal of Financial Economics 2011. Vol, 101.(1) p. 182-205. 

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    • Xiouros, Costas; Zapatero, Fernando

      The Representative Agent of an Economy with External Habit Formation and Heterogeneous Risk Aversion

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      Review of Financial Studies 2010. Vol, 23.(8) p. 3017-3047. 

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    • Gómez, Juan-Pedro; Priestley, Richard; Zapatero, Fernando

      Implications of Keeping-Up-with-the-Joneses Behavior for the Equilibrium Cross Section of Stock Returns: International Evidence

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      Journal of Finance 2009. Vol, 64.(6) p. 2703-273. 

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    • Cooper, Ilan; Priestley, Richard

      Time-Varying Risk Premiums and the Output Gap

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      Review of Financial Studies 2009. Vol, 22.(7) p. 2801-2833. 

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    • Aunon-Nerin, Daniel; Ehling, Paul

      Why firms purchase property insurance

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      Journal of Financial Economics 2008. Vol, 90.(3) p. 298-312.  

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    • David K. Backus, Espen Henriksen and Kjetil Storesletten

      Taxes and the global allocation of capital

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      Journal of Monetary Economics, Volume 55(1), pp. 48-61, 2008.

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    • Demyanyk, Yuliya; Ostergaard, Charlotte; Sørensen, Bent E.

      U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income

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      Journal of Finance 2007. Vol, 62.(6) p. 2763-2801.

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    • Edmans, Alex; Garcia, Diego; Norli, Øyvind

      Sports Sentiment and Stock Returns

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      Journal of Finance 2007. Vol, 62.(4) p. 1967-1998

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    • Cooper, Ilan

      Asset pricing implications of nonconvex adjustment costs and irreversibility of investment

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      Journal of Finance 2006. Vol, 61.(1) p. 139-170. 

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    • Gerard, Bruno; Wu, Gengshu

      How important is intertemporal risk for asset allocation?

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      Journal of Business 2006. Vol, 79.(4) p. 2203-2241

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    • Hardouvelis, G.A.; Malliaropulos, D.; Priestley, Richard

      EMU and European stock market integration

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      Journal of Business 2006. Vol, 79.(1) p. 365-392

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    • Bjønnes, Geir Høidal; Rime, Dagfinn

      Dealer behavior and trading systems in foreign exchange markets

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      Journal of Financial Economics 2005. Vol, 75.(3) p. 571-605

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    • Ongena, Steven; Smith, David; Michalsen, Dag

      Firms and their distressed banks: lessons from the Norwegian banking crisis

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      Journal of Financial Economics 2003. Vol, 67. p. 81-112

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    • Nyborg, Kjell G.; Rydqvist, Kristian; Sundaresan, Suresh M.

      Bidder Behavior in Multiunit Auctions - Evidence from Swedish Treasury Auctions

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      Journal of Political Economy 2002. Vol, 110.(2) p. 394-424

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    • Ostergaard, Charlotte; Sørensen, Bent E.; Yosha, Oved

      Consumption and Aggregate Constraints: Evidence from U.S. States and Canadian Provinces

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      Journal of Political Economy 2002. Vol, 110.(3) p. 634-645

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    • Garrett, I.; Priestley, Richard

      Dividend Behaviour and Dividend Signaling

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      Journal of Financial and Quantitative Analysis 2000. Vol, 35.(2) p. 173-189

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    • Rydqvist, Kristian; Green, Rick

      Ex-Day Behavior with Dividend Preference and Limitations to Short-Term Arbitrage: The Case of Swedish Lottery Bonds

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      Journal of Financial Economics 1999. Vol, 53. p. 145-187

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    • Bøhren, Øyvind; Eckbo, Espen B.; Michalsen, Dag

      Why underwrite rights offerings? Some new evidence

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      Journal of Financial Economics 1997. Vol, 46. p. 223-261

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    • Green, Richard C.; Ødegaard, Bernt A.

      Are There Tax Effects in the Relative Pricing of U.S. Government Bonds?

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      Journal of Finance 1997. Vol, 52. p. 609-633

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