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.
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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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Sven Klingler and Olav Syrstad
Life after Libor
Journal of Financial Economics, forthcoming
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Chen, Zhanhui and Cooper, Ilan and Ehling, Paul and Xiouros, Costas
Risk Aversion Sensitive Real Business Cycles
Read more (+)Management Science. Forthcoming
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Andreas Fagereng, Luigi Guiso, Davide Malacrino & Luigi Pistaferri
Heterogeneity and Persistence in Returns to Wealth
Read more (+)Econometrica, Vol. 88, No.1, 115–170, 2020.
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Anatasov, Victoria; Muller, Stig; Priestley, Richard
Consumption Fluctuations and Expected Returns
Read more (+)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
Read more (+)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?
Read more (+)Journal of Quantitative and Financial Analysis. Forthcoming.
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Ilan Cooper and Paolo Maio
New evidence on conditional factor models
Read more (+)Journal of Financial and Quantitative Analysis. Forthcoming.
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Sven Klingler and David Lando
Safe Haven CDS Premiums
Read more (+)Review of Financial Studies. Forthcoming.
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Espen Henriksen and Thomas Cooley
The Demographic Deficit
Read more (+)Journal of Monetary Economics, forthcoming.
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Ilan Cooper and Paulo Maio
Asset Growth, Profitability, and Investment Opportunities
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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?
Read more (+)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
Read more (+)Journal of Finance. Volume 72(1), pp. 133-166. 2017.
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Paul Ehling, Christian Heyerdahl-Larsen
Correlations
Read more (+)Management Science. Volume 63, pp. 1919-1937, 2017.
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Ibolya Schindele, Bent Vale and Charlotte Østergaard
Social Capital and the Viability of Nonprofit Firms: Evidence from Savings Banks
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)Review of Finance. Volume 19(4), p. 1543-1585. 2015.
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Øyvind Norli; Charlotte Ostergaard; Ibolya Schindele
Liquidity and Shareholder Activism
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)Review of Finance 2012. Vol, 16.(3) p. 755-798.
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Garcia, Diego; Norli, Øyvind
Geographic dispersion and stock returns
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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?
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)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
Read more (+)Journal of Political Economy 2002. Vol, 110.(3) p. 634-645
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Garrett, I.; Priestley, Richard
Dividend Behaviour and Dividend Signaling
Read more (+)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
Read more (+)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
Read more (+)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?
Read more (+)Journal of Finance 1997. Vol, 52. p. 609-633