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Behavioural Finance Working Group

 

Behavioural finance is a topic that has gained considerable attention in recent years. It studies human behaviour in financial markets. As such, it is a truly interdisciplinary field at the cross section of finance, psychology, economics and sociology.

The Behavioural Finance Working Group (BFWG) was established in January 2008. It is led by Professor Gulnur Muradoglu at the School of Business and Management, Queen Mary, University of London.

BFWG exists to perform world leading research in Behavioural Finance. It brings together practitioners with internationally respected academics in finance, psychology, sociology and economics through discussion groups, workshops and conferences. We also provide specialist consultancy on financial decision making processes to financial services industry and regulatory agencies. We have sponsors from industry, we organise conferences with practitioner talks and dedicated PhD sessions as well as regular sessions where academic papers are presented. This makes us an ideal hub for research students in Behavioural Finance.

The group aims to:

  • Facilitate interdisciplinary work by integrating finance, psychology, sociology and economics
  • Promote the field of behavioural finance
  • Facilitate interaction between academia and industry to ensure that we have a better understanding of the world around us
  • Develop models that can be successfully implemented.

Contact us at bfwg@qmul.ac.uk

BFWG has more than six hundred members from all over the world including academics in Finance, Psychology, Sociology, Economics and Accounting, PhD students, and Practitioners.

How to become a member?

If you would like more information on the group or would like to join the BFWG please send your CV by email to bfwg@qmul.ac.uk along with the following with the following information: 

  • Affiliation
  • Job Title
  • Department
  • Message (max 250 words). 

Upon receipt of your email your request will be evaluated and you will be contacted by a member of staff.

Current members include:

International Institutions

  • Meir Statman, Santa Clara University, USA
  • Hersh Shefrin, Santa Clara University, USA
  • Richard Thaler, Chicago School of Business, USA
  • Werner DeBondt, DePaul University, Chicago, US
  • David Hirshleifer, University of California, Irvine, USA
  • Brian Kluger, University of Cincinnati, USA
  • John Nofsinger, College of Business, Washington State University, USA
  • Betty Simkins, Department of Finance, Oklahoma State University, USA
  • Richard Ackley, The Chicago School of Professional Psychology, USA
  • Donald Hantula, Temple University, Philadelphia, USA
  • Nigel Harvey, University College London, UK
  • David Tuckett, University College London, UK
  • Alex Preda, Kings College London, UK
  • Robert Olsen, Institute of Behavioral Finance, USA
  • Greg Davies, Barclays Wealth, UK
  • Charles MacKinnon, Thurleigh Investment Managers
  • Stuart Trow, European Bank for Reconstruction and Development, UK
  • Bilgehan Yazici, CitiGroup, Switzerland

Queen Mary University of London

PhD Students

  • Bayan Alsedais, School of Business and Management, Queen Mary, University of London
  • Duanjinyu Yin, School of Business and Management, Queen Mary, University of London
  • Fan Wang, School of Business and Management, Queen Mary, University of London

Forthcoming

Behavioural Finance in Advanced and Emerging Markets

Behavioural Finance Working Group (BFWG), Queen Mary, University of London, UK and the Society for the Study of Emerging Markets, USA

Date: 14-15 June 2018
Location: Queen Mary University of London
Keynote speaker: Avanidhar Subrahmanyam (UCLA)
Organisers: Gulnur Muradoglu (QMUL) and Ali M. Kutan (Southern Illinois University Edwardsville, USA) 

Special issue: Accepted papers will be considered for a special issue of The European Journal of Finance which will publish a selection of research presented at the conference.

Conference Fee: Early bird registration fee £200 before 18 May 2018,  Standard registration fee £300 from 19 May- 13 June 2018. Register here

PhD sessions supported by: ICAEW’s Charitable Trusts http://www.icaew.com/

Venue: Queen Mary University of London, Graduate Centre, Mile End Road, London, UK, E1 4NS

ProgrammeBFWG 2018 Conference Programme [PDF 1,201KB]

Overview 

In this two-day meeting which is jointly organized by the Behavioural Finance Working Group (BFWG), Queen Mary, University of London, UK, and the Society for the Study of Emerging Markets, USA, we will consider how the fields of behavioural finance, economic psychology, financial socio-analysis and other related areas can enhance our understanding of financial behaviours.

We will have dedicated PhD sessions supported by ICAEW’s Charitable Trusts and a Practitioner’s Round Table.

Special Issue: Accepted papers will be considered for a special issue of Review of Behavioural Finance and Emerging Markets Finance and Trade (EMFT) which will publish a selection of research presented at the conference. Further information about the submission process will be shared during the conference and emailed to the participants. EMFT will consider papers on emerging markets only.

Special issue journal websites:

Review of Behavioural Financehttp://www.emeraldinsight.com/loi/rbf

Emerging Markets Finance and Tradehttp://www.tandfonline.com/mree 

Best Paper Awards: Two best paper awards will be given for the papers presented at the conference. Review of Behavioural Finance and Emerging Markets Finance and Trade will give a Best Quantitative Paper Award and the Qualitative Research in Financial Markets will give a Best Qualitative Paper award.

 

Papers that will be presented at the conference

 

Session 1A: CEO actions and outcomes

Chair Tom Aabo, Aarhus University

Room GC114

 

Optimal CEO Contract with Probability Weighting             

Speaker: Yuhao Zhu, Erasmus University Rotterdam

Discussant: Maurizio Montone, Erasmus University Rotterdam

1A Optimal CEO Contract with Probability Weighting [PDF 3,611KB]

 

CEO overconfidence and investor sentiment

Speaker: Maurizio Montone, Erasmus University Rotterdam

Co-author(s): Ingolf Dittmann and Yuhao Zhu, Erasmus University Rotterdam and Tinbergen Institute

Discussant: Tom Aabo, Aarhus University 

1A CEO Overconfidence and Investor Sentiment [PDF 134KB]

 

CEO narcissism, corporate risk, and the role of narcissistic supply

Speaker: Tom Aabo, Aarhus University

Co-author(s): Frederik Hoejland, QVARTZ, and Jesper Pedersen, Clearwater International Corporate Finance         

Discussant: Yuhao Zhu, Erasmus University Rotterdam

1A CEO Narcissism, Corporate Risk, and the Role of Narcissistic Supply [PDF 518KB]

 

Session 1B: Risk, Trading and Efficiency

Chair Robert Hudson, University of Hull

Room GC104

 

Financial traders network and systemic risk spillover channels

Speaker: Jaehak Hwang, University of Bath

Discussant: Lisa Kramer, University of Toronto

1B Financial traders network and systemic risk spillover channels [PDF 4,981KB]

 

Why do Moving Average Rules Work? Comprehensive Evidence from World Markets      

Speaker: Robert Hudson, University of Hull

Co-author(s): Andrew Urquhart, University of Southampton, and Jian Wang, University of Hull

Discussant: Jaehak Hwang, University of Bath

1B Why do Moving Average Rules Work [PDF 837KB]

 

Does Risk Aversion Vary During the Year? Evidence from Bid-Ask Spreads

Speaker: Lisa Kramer, University of Toronto

Co-authors: Ramon P. DeGennaro, University of Tennessee, and Mark J. Kamstra, York University

Discussant: Robert Hudson, University of Hull

1B Does Risk Aversion Vary During the Year [PDF 1,924KB]

 

Session 1C: Market Anomalies and Puzzles

Chair Mehrshad Motahari, Warwick Business School

Room GC103

 

Momentum, Reversals, and other Puzzles in Fama-MacBeth Cross-Sectional Regressions

Speaker: Mark J. Kamstra, York University

Discussant: Mehrshad Motahari, Warwick Business School

1C Momentum, Reversals, and other Puzzles.... [PDF 1,225KB]

 

The R2 and the Seven Events: The Dilemma between Return Synchronicity and Price Efficiency

Speaker: Iordanis Petsas, University of Scranton

Co-author(s): Fengyun Li, Renmin University of China, and Jinghan Cai, University of Scranton

Discussant: Mark J. Kamstra, York University       

1C The R2and the Seven Events..... [PDF 818KB] 

 

Preference for Skewness and Market Anomalies

Speaker: Mehrshad Motahari, Warwick Business School

Co-author(s):  Alok Kumar, University of Miami and Richard J. Taffler, Warwick Business School

Discussant: Iordanis Petsas, University of Scranton

1C Preference for Skewness and Market Anomalies [PDF 439KB]

 

Session 2A: Debt and Equity Markets

Chair Massimiliano Affinito, Bank of Italy

Room GC104

 

Capital Redeployment in the Equity Market

Speaker: Huaizhi Chen, Harvard Business School                                                                

Discussant: Massimiliano Affinito, Bank of Italy

2A Capital Redeployment in the Equity Market [PDF 1,436KB]

 

Tobin Taxes and Dynamics of Interacting Financial Markets

Speaker: Heba M. Ezzat, Faculty of Economics and Political Science, Cairo University

Discussant: Huaizhi Chen, Harvard Business School

2A Tobin Taxes and Dynamics of Interacting Financial Markets [PDF 595KB]

 

Purchases of Sovereign Debt Securities by Banks During the Crisis: The Role of Balance Sheet Conditions

Speaker: Massimiliano Affinito, Bank of Italy                                                                       

Co-author(s): Giorgio Albareto, Bank of Italy and Raffaele Santioni, Bank of Italy

Discussant: Heba M. Ezzat, Faculty of Economics and Political Science, Cairo University

2A Purchases of Sovereign Debt Securities by Banks During the Crisis.... [PDF 843KB]

               

Session 2B: Investments

Chair Hava Orkut, University of Strasbourg

Room GC114

 

Do foreign institutional investors follow and exploit information content of insiders’ trade in emerging markets?

Speaker: Biwesh Neupane, University of Strathclyde                       

Co-authors:  Andrew Marshall, University of Strathclyde, Suman Neupane, Griffith University and Chandra Thapa, University of Strathclyde

Discussant: Hava Orkut, University of Strasbourg

2B Do foreign institutional investors mimic and exploit...... [PDF 890KB] 

 

Social recognition and investor overconfidence

Speaker: Matthias Pelster Paderborn University

Co-author(s): Bastian Breitmayer, Queensland University of Technology

Discussant: Biwesh Neupane, University of Strathclyde

2B Social recognition and investor overconfidence [PDF 553KB] 

 

Investment goals and mental accounting in French retail clients

Speaker: Hava Orkut, University of Strasbourg

Co-author(s): Marie-Hélène Broihanne, University of Strasbourg

Discussant: Matthias Pelster, Paderborn University

2B Investment goals and mental accounting in French retail clients [PDF 336KB]

 

Session 2C: Behavioral Portfolio

Chair Matthias Wibral, Maastricht University   

Room GC 103

                               

Household financial portfolios in an emerging economy – the case of Chile           

Speaker: Piotr Białowolski, Harvard University and University of Dabrowa Gornicza

Co-author(s): Florian Chávez-Juárez, National Laboratory of Public Policy

Discussant: Matthias Wibral, Maastricht University          

2C Household financial portfolios in an emerging economy.... [PDF 465KB]

 

Portfolio returns and investor sentiment: Do market states matter?         

Speaker: Md Lutfur Rahman, The University of Newcastle             

Co-author(s): Md Al Mamun, La Trobe University

Discussant: Piotr Białowolski, Harvard University and University of Dabrowa Gornicza

2C Portfolio returns and investor sentiment.... [PDF 1,383KB]

 

Skewness expectations and portfolio choice

Speaker: Matthias Wibral, Maastricht University

Co-author(s): Tilman Drerup, Stanford University

Discussant: Md Lutfur Rahman, The University of Newcastle

2C Skewness expectations and portfolio choice [PDF 2,102KB]

 

Session 3A: Mental and Emotional Finance

Chair Paul Ryan, University College Dublin

Room GC114

 

Psychopathic Traits of Corporate Leadership as Predictors of Future Stock Returns

Speaker: Ayman Omar, University of Leicester

Co-author(s): Tomasz Piotr Wisniewski, University of Leicester, and Liafisu Sina Yekini, Coventry University            

Discussant: Paul Ryan, University College Dublin

3A Psychopathic Traits of Corporate Leadership.... [PDF 982KB]

 

Crash-o-phobia in Currency Carry Trade Returns

Speaker: Alexandra Janssen, University of Zurich

Co-author(s): Regina Hammerschmid, University of Zurich

Discussant: Ayman Omar, University of Leicester

3A Crashophobia in Currency Carry Trade Returns [PDF 723KB]

 

The Psychodynamics of a Dramatic Housing Bubble: Denial and the Case of the Celtic Tiger            

Speaker: Paul Ryan, University College Dublin     

Co-author(s): Richard Taffler, Warwick Business School, and Clare Branigan, University College Dublin

Discussant: Alexandra Janssen, University of Zurich  

3A The Psychodynamics of a Dramatic Housing Bubble [PDF 626KB]

 

Session 3B: Herding and Investor Sentiment

Chair Vasileios Kallinterakis, University of Liverpool Management School

Room GC103

 

Gambling and herding in stock markets: Evidence from China

Speaker: Cynthia M. Gong, Loughborough University

Discussant: Vasileios Kallinterakis, University of Liverpool Management School

3B Gambling and herding in stock markets.... [PDF 254KB] 

 

Herding in FDI outflows

Speaker: Kristina Vasileva, University of Westminster     

Co-author(s): Gulnur Muradoglu, Queen Mary University of London and Mario Levis, Cass Business School             

Discussant: Cynthia M. Gong, Loughborough University

3B Herding in FDI outflows [PDF 1,234KB] 

 

Institutional herding and mood 

Speaker: Vasileios Kallinterakis, University of Liverpool Management School

Co-author(s): Konstantinos Gavriilidis, University of Stirling and Belma Öztürkkal, Kadir Has University     

Discussant: Kristina Vasileva, University of Westminster

3B Institutional herding and mood [PDF 1,019KB] 

 

Session 3C: Performance

Chair Ros Zam Zam Sapian, National University of Malaysia

Room GC104

 

Mutual Fund performance amidst International Market Exposure

Speaker: Ruzita Abdul Rahim, Universiti Kebangsaan Malaysia

Co-author(s): Ling Pick-Soon, Universiti Kebangsaan Malaysia and Rasidah Mohd Rashid, Universiti Utara Malaysia

Discussant: Teng Yuan Cheng, Nanjing Audit University

 3C Mutual Fund performance amidst International Market Exposure [PDF 1,101KB]

 

Foreign Equity Flows and Country Fund Return: Emerging Market Evidence

Speaker: Ros Zam Zam Sapian, National University of Malaysia

Co-author(s): Siti Fatin Nabila Mohd Nasir, National University of Malaysia

Discussant: Ruzita Abdul Rahim, Universiti Kebangsaan Malaysia

3C Foreign Equity Flows and Country Fund Return [PDF 366KB] 

 

Risk-Seeking Propensity, Trading Volume, and Trading Performance        

Speaker: Teng Yuan Cheng, Nanjing Audit University

Co-author(s): Chun I.  Lee, Loyola Marymount University and Chao Hsien Lin, National Kaohsiung First University of Science and Technology

Discussant: Ros Zam Zam Sapian, National University of Malaysia

 3C Risk-Seeking Propensity Trading Volume and Trading Performance [PDF 223KB]

 

Session 4A: Financial Markets 1

Chair Werner De Bondt, DePaul University

Room GC104

 

Inclusive Banking, Financial Regulation and Bank Performance: Cross-Country Evidence

Speaker: Sushanta Mallick, Queen Mary University of London

Co-author(s) M. Mostak Ahamed, University of Sussex, Shirley J. Ho, National Chengchi University and  Roman Matousek, University of Nottingham                                      

Discussant: Sean Hundtofte, Federal Reserve Bank of New York

 4A Inclusive Banking Financial Regulation and Bank Performance [PDF 450KB]

 

In the spotlight: How Celebrity Investors Sway Financial Markets 

Speaker: Werner De Bondt, DePaul University

Co-author(s): Marco D'Errico, European Central Bank, Gulnur Muradoglu, Queen Mary University of London, and Silvana Stefani, University of Milano-Bicocca

Discussant: Sushanta Mallick, Queen Mary University of London

4A In the spotlight How Celebrity Investors Sway Financial Markets [PDF 268KB] 

 

Relative Price ≠ Relative Value: Evidence of Anchoring to Industry Multiples in IPO Pricing

Speaker: Sean Hundtofte, Federal Reserve Bank of New York

Co-author(s): Sami Torstila, Aalto University

Discussant: Werner De Bondt, DePaul University                                                              

4A Relative Price Relative Value [PDF 451KB] 

 

Session 4B: Credit Risk and Finance

Chair Darren Duxbury Newcastle University Business School     

Room GC114

 

Experience Wears the Trousers: Exploring Gender and Attitude to Financial Risk 

Speaker: Ivan Sangiorgi, University of Reading

Co-author(s): Chris Brooks, Carola Hillenbrand and Kevin Money, University of Reading

Discussant: Zunaira Aman, Queen Mary, University of London

4B Experience Wears the Trousers [PDF 1,381KB] 

 

High Cost Short Term Credit (HCSTC): Can users’ attitudes be changed?
Speaker: Darren Duxbury Newcastle University Business School 

Co-authors:  Karim Aldohni, Newcastle Law School

Discussant: Ivan Sangiorgi, University of Reading

4B High Cost Short Term Credit [PDF 139KB] 

 

Explaining REER Misalignment: The Role of Currency Regimes, Financial Openness & Trade Agreements

Speaker: Zunaira Aman, Queen Mary, University of London

Co-authors:  Sushanta Mallick, Queen Mary, University of London                                                                             

Discussant: Speaker: Darren Duxbury Newcastle University Business School         

4B Explaining REER Misalignment [PDF 31KB] 

 

Session 5A: Investor Sentiment 1

Chair Hannes Stieperaere, Ghent University

Room GC114

 

Small Investors, Internet Sentiment and Return Predictability

Speaker: Antti Klemola, University of Vaasa

Discussant: Karolina Krystyniak, University of Ontario Institute of Technology

5A Small Investor Internet Sentiment [PDF 684KB]

 

Investor Behavior under Fiscal Policy Changes

Speaker: Hannes Stieperaere, Ghent University 

Co-author(s): Nicolas Dierick , Ghent University, and Koen Inghelbrecht, Ghent University

Discussant: Antti Klemola, University of Vaasa

5A Investor Behavior under Fiscal Policy Changes [PDF 232KB]

 

What’s trending? Stock-level investor sentiment and returns

Speaker: Karolina Krystyniak, University of Ontario Institute of Technology           

Co-author(s): Hongqi Liu, Chinese University of Hong Kong

Discussant: Hannes Stieperaere, Ghent University           

5A What’s trending Stock-level investor sentiment and returns [PDF 1,142KB]

 

Session 5B Behavioural Finance and Efficiencey

Chair Khelifa Mazouz and Qingwei Wang

Room GC103

 

Volatility Timing, Sentiment, and the Short-term Profitability of VIX-based Cross-sectional Trading Strategies 

Speaker: Wenjie Ding, Cardiff University               

Co-author(s): Khelifa Mazouz and Qingwei Wang

Discussant: Matthias Horn, Bamberg University

5B Volatility Timing, Sentiment, and the Short-term Profitability of VIX-based Cross-sectional Trading Strategies [PDF 770KB]

 

Bubbles and Financial Professionals

Speaker: Christoph Huber, University of Innsbruck           

Utz Weitzel, Jürgen Huber, Michael Kirchler, Florian Lindner and Julia Rose

Discussant: Wenjie Ding, Cardiff University          

5B Bubbles and Financial Professionals [PDF 3,760KB]

 

Behavioral Theory Revisited: Lessons Learned from the Field 

Speaker: Matthias Horn, Bamberg University

Co-author(s): Andreas Oehler, Bamberg University

Discussant: Christoph Huber, University of Innsbruck

5b Behavioral Portfolio Theory Revisited: Lessons Learned from the Field [PDF 517KB]

 

Session 6A: Financial Risk and Constraints

Chair Daphne Sobolev, School of Management, University College London

Room GC114

 

Managerial Optimism and the Perception of Financial Constraints             

Speaker: David  Florysiak, University of Southern Denmark

Co-authors(s): Tobias Heizer, University of Munich

Discussant: Daphne Sobolev, School of Management, University College London

6A Managerial Optimism and the Perception of Financial Constraints [PDF 579KB]

 

Causes and Consequences of Consumer Budget Non-Compliance

Speaker: Marcel Lukas, University of Edinburgh 

Co-author(s): Chuck Howard, University of British Columbia

Discussant: David Florysiak, University of Southern Denmark       

 

                                

Consumer judgments of morally-questionable behaviours: Loss aversion, risk aversion, crime aversion, or propensity for ethics?          

Speaker: Daphne Sobolev, School of Management, University College London     

Co-author(s): Radu Mazilu and Ines Almeida, University College London

Discussant: Marcel Lukas, University of Edinburgh            

 

 

Session 6B: Sentiment in Financial Markets 2

Chair Carolin Hartmann, University of Hohenheim

Room GC103

 

Can Investor Sentiment Predict Stock Returns? Evidence from a New Investor Sentiment Index

Speaker: Sze Nie Ung, Newcastle University

Co-author(s): Bartosz Gebka, Newcastle University, and Robert Anderson, Newcastle University

Discussant: Carolin Hartmann, University of Hohenheim

6B Can Investor Sentiment Predict Stock Returns.... [PDF 1,306KB] 

 

Does Investor Sentiment Affect Market Response to Earnings Restatements?

Speaker: Brian Thompson, DePaul University      

Co-author(s): Erik Davidson, David Stubing, and Vahap Uysal

Discussant: Sze Nie Ung, Newcastle University

 

 

Is Stuttgart more sentiment-prone than Frankfurt? The case of retail-oriented structured products in Germany

Speaker: Carolin Hartmann, University of Hohenheim

Co-author(s) Patrick Roger, University of Strasbourg

Discussant: Brian Thompson, DePaul University 

 

 

Session 6C: Expectations and Information Processing

Chair Pierre Siklos, Wilfrid Laurier University

Room GC104

 

Irrational Expectations Concerning Future Social Security Benefits: United States, Canada and Ireland

Speaker: John Turner, Pension Policy Center, United States

Co-author(s): Saisai Zhang, University of Waterloo, Gerard Hughes, Trinity College Dublin and David Rajnes, Social Security Administration, United States

Discussant: Pierre Siklos, Wilfrid Laurier University

6C Irrational Expectations Concerning Future Social Security Benefits [PDF 885KB] 

 

Stock return comovement when investors are distraced: more and more homogenous         

Speaker: Michael Ehrmann, European Central Bank

Co-author(s): David-Jan Jansen, European Central Bank 

Discussant: John Turner, Pension Policy Center, United States    

6C Stock return comovement ..... [PDF 160KB]

 

What Drives Household’s Inflation Expectations? Socio-Economic Conditions, Anchoring, and the South African Experience

Speaker: Pierre Siklos, Wilfrid Laurier University

Co-author(s): Monique Reid and Stan Du Plessis University of Stellenbosch, South Africa

Discussant: Michael Ehrmann, European Central Bank

6C What Drives Household’s Inflation Expectations.... [PDF 563KB] 

                                  

Session 7A: Experimental and Behavioral Studies

Chair Richard Fairchild, University of Bath

Room GC104

 

An experimental study of financial options markets and the “overpriced puts puzzle”

Speaker: Gonçalo Faria, Universidade Católica Portuguesa           

Co-author(s): Giuseppe Danese, Universidad del Rosario, Colombia

Discussant: Richard Fairchild, University of Bath

7A An experimental study of financial options markets and the “overpriced puts puzzle” [PDF 536KB]

                                                                          

Ambiguity Aversion and Experiential Learning: Implications for Retirement Planning         

Speaker: Bryan Foltice, Butler University

Co-author(s): Rachel Rogers, Butler University

Discussant: Gonçalo Faria, Universidade Católica Portuguesa

 

 

A Development Bank’s Choice of Private Equity partner:  A Behavioural Game-theoretic Approach

Speaker:  Richard Fairchild, University of Bath    

Co-author(s): Ian Crawford, University of Bath

Discussant: Bryan Foltice, Butler University

 

 

Session 7B: Financial Professionals and Advisors

Chair Sarah McGill, University of Oxford

Room GC114

 

Why do you Trust me? A Structural Equation Model of Trustworthiness in Financial Advisory

Speaker: Caterina Cruciani, Ca' Foscari University of Venice

Co-author(s): Gloria Gardenal, Ca' Foscari University of Venice and Ugo Rigoni, Ca' Foscari University of Venice                    

Discussant: Sarah McGill, University of Oxford   

 

                                                   

Financial Advice, Gender and Wealth: Risk Tolerance, Knowledge and confidence in Advised and Self- Managed Investors

Speaker: Ylva Baeckstrom, Cass Business School

Co-author(s): Jo Silvester, Exeter University Business School, and Ian W. Marsh, Cass Business School       

Discussant: Caterina Cruciani, Ca' Foscari University of Venice

 

 

Do health adversities trump financial literacy in insurance purchasing decisions? Evidence from 11 countries

Speaker: Sarah McGill, University of Oxford

Co-author(s): Gordon Clark, Oxford University and Monash University, Juncal Cuñado, University of Navarra, and Stefania Innocenti, Oxford University

Discussant: Ylva Baeckstrom, Cass Business School           

 

 

Session 7C: Equity markets

Chair William Forbes, Queen Mary University

Room GC103

 

The Holy Spirit and performativity: Institutionalization of noise trading in financial markets

Speaker: Arie Gozluklu, Warwick Business School

Co-author(s): Emre Tarim, Lancaster University and Gulnur Muradoglu, Queen Mary University of London                              

Discussant: William Forbes, Queen Mary University of London    

 

 

Do Investors Gamble Excessively in the Stock Market?    

Speaker: Atcha Kamolsareeratana, Mahidol University   

Co-author(s): Roy Kouwenberg, Erasmus University Rotterdam

Discussant: Arie Gozluklu, Warwick Business School

 

 

Attention! Air pollution not only corrupts your health: Evidence from the Chinese stock market 

Speaker: Wenzhao Wang, Newcastle University Business School

Discussant: Atcha Kamolsareeratana, Mahidol University              

 

                                                               

The evolution of norms of good corporate governance: Evidence from the UK FTSE 350 

Speaker: William Forbes, Queen Mary University of London

Co-author(s): Alan Benson, University of Exeter and James Littlefair, Independent Audit

Discussant: Wenzhao Wang, Newcastle University Business School

 

 

Previous

2017 Conference - Sentiment and mood finance

Organised and chaired by Darren Duxbury, Newcastle University Business School and Gulnur Muradoglu, Queen Mary University of London.

2016 Conference - Financial regulation and the politics of finance
Organised and chaired by Dr Kim Kaivanto, Lancaster University, and Professor Gulnur Muradoglu, Queen Mary University of London.

2015 Conference - Financial regulation in response to the financial crisis: seven years on
Organised and chaired by Professor William Forbes, Loughborough University, Professor Joanna Gray, Newcastle University, and Professor Gulnur Muradoglu, Queen Mary University of London.

2014 Conference - Emotions in finance
Organised and chaired by Professor Richard Taffler, Edinburgh University, and Professor Gulnur Muradoglu, Queen Mary University of London.

2013 Conference - How the poor manage their finances
Organised and chaired by Professor Peter Ayton, School of Psychology, City University London, and Professor Gulnur Muradoglu, Queen Mary University of London.

2012 Conference - Behavioural corporate finance
Organised and chaired by Professor Scott Moeller, Cass Business School, and Professor Gulnur Muradoglu, Cass Business School.

2011 Conference - Behavioural finance and economic psychology: Recent developments
Organised and chaired by Professor Nigel Harvey, University College London Psychology Department and Professor Gulnur Muradoglu, Cass Business School.

2010 Conference - Fairness, trust and emotions in finance
Organised and chaired by Dr Richard Fairchild, School of Management, University of Bath and Professor Gulnur Muradoglu, Cass Business School.
Conference programme [.docx]

2009 Conference - Behavioural perspectives on the financial crisis
Organised and Chaired by Professor William Forbes, Loughborough University and Professor Gulnur Muradoglu Cass Business School.

2009 - Behavioural Finance Working Group First Meeting
Organised by Professor Gulnur Muradoglu, Cass Business School.

Forthcoming seminars

There are currently no seminars confirmed.

Past seminars

Monday 8 July 2013
Seminar title - Incorporation in Offshore Financial Centers: Naughty or Nice?
Speaker - Professor Warren Bailey, Cornell University
Location - School of Business and Management, Mile End Campus, Queen Mary University of London, E1 4NS

Biography:
Warren Bailey, born and raised in Brooklyn,  is a Professor of Finance at the Samuel Curtis Johnson Graduate School of Management of Cornell University. Professor Bailey's interests include international finance, international securities markets, and investments. He has a special interest in emerging capital markets, particularly in Asia. He has published widely in all top finance journals. He has been featured and quoted extensively in the financial and mainstream press, including The New York Times, The Economist, and The Far Eastern Economic Review, and television interviews on CNN-FN and CNBC. He is an associate editor of The Journal of Financial and Quantitative Analysis and The Pacific Basin Finance Journal and the co-editor of Journal of Financial Services Research. He received the Class of 1992 Award for Teaching Excellence and the Stephen Russell Distinguished Teaching Award in 1999

Seminar Abstract:
Incorporation in Offshore Financial Centers: Naughty or Nice? by Warren Bailey and Edith X. Liu  (both Cornell University)
We study associations between measures of firm value and quality and the firm’s choice of legal and regulatory environment though incorporation in an offshore financial center. Preliminary empirical results suggest that incorporation in such a jurisdiction, or switching incorporation to one, is associated with lower value as measured by Tobin’s q and poor corporate governance as measured by higher insider holdings. These effects vary with the quality of the firm’s home country environment and the offshore domicile it selects.

Monday 21 June 2013
Seminar title - How do we reverse the current economic malaise?
Speaker - Professor Werner F.M.  De Bondt, Driehaus Center for Behavioral Finance, DePaul University in Chicago
Location - School of Business and Management, Mile End Campus, Queen Mary University of London, E1 4NS

Biography:
Werner F.M. De Bondt is director of the Richard H. Driehaus Center for Behavioral Finance at DePaul University in Chicago. He is also the Driehaus Professor of Behavioral Finance. De Bondt is an economist who studies the psychology of financial decision-making. He is one of the founders of behavioral finance.. De Bondt’s research articles have appeared in many books and scholarly journals, including the Journal of Finance, the Financial Analysts Journal, the American Economic Review, and the European Economic Review. His work on stock market overreaction and the speculative dynamics of world financial markets has received a great deal of attention. Werner De Bondt is a frequent speaker to academics and investment professionals around the world. He holds a Ph.D. in Business Administration from Cornell University (1985). In past years, he was a member of the faculty at various universities in Europe, e.g., the KU Leuven (Belgium) and the University of Zurich (Switzerland). Between 1992 and 2003, he was the Frank Graner Professor of Investment Management at the University of Wisconsin-Madison.

Seminar Abstract:
“We failed as regulators, we failed as supervisors, we failed as corporate governance managers, we failed as risk managers, and we also failed in the allocation of roles and responsibilities for international economic organisations.”Angel Gurria, Secretary General, OECD

The world is out of kilter. Confusion and disorder reign at all levels: economic, social, political, and moral. The crisis that started in 2007, preceded by many years of economic stagnation in the industrialized nations, has revealed the fragility of our market-based society. In the United States, Europe, and Japan, anger about the past and anxiety about the future is widespread. Many people are in pain, yet also feel powerless. Today’s capitalism, they believe, is inherently unstable, inefficient, unfair, and corrupt. A more responsible capitalism is sorely needed. Democracy has to be strengthened. Trust in business corporations, financial institutions, and government has to be restored. In order to realize this utopian vision, the world needs authentic thought leadership and the moral regeneration of its power elite.

 

 

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