Helsinki Finance Summit 2024 Program

WELCOME RECEPTION

Opening words by Associate Professor Petri Jylhä, Chair of the Helsinki Finance Summit 2024.

Food and drinks will be served. 

OPENING WORDS

Timo Korkeamäki, Dean of the Aalto University School of Business 

SESSION 1: Retail Stock Trading 

Chair: Matthijs Lof (Aalto University)

Retail Trading Frenzies and Real Investment Efficiency 

Clifton Green (Emory University) and Russell Jame (University of Kentucky)

Discussant: Valeria Fedyk (Arizona State University)

The Dynamics of Stock Market Participation 

Sigurd Mølster Galaasen (Norges Bank) and Akash Raja (Copenhagen Business School) 

Discussant: Claes Bäckman (SAFE)

SESSION 2: Behavioral Heterogeneity 

Chair: Matti Keloharju (Aalto University)

Behavioral Lock-In: Aggregate Implications of Reference Dependence in the Housing Market 

Cristian Badarinza (National University of Singapore), Tarun Ramadorai (Imperial College London), Juhana Siljander (Imperial College London), and Jagdish Tripathy (Bank of England)

Discussant: Marta Cota (Nova School of Business and Economics)

Mental Models of the Stock Market 

Peter Andre (SAFE and Goethe University Frankfurt), Philipp Schirmer (University of Bonn), and Johannes Wohlfart (University of Copenhagen)

Discussant: Samuel Hartzmark (Boston College)

SESSION 3: Targets 

Chair: Mikko Leppämäki (Aalto University)

Moving Targets 

Lauren Cohen (Harvard Business School) and Quoc Nguyen (DePaul University) 

Discussant: Vesa Pursiainen (University of St. Gallen)

Off Target: On the Underperformance of Target-Date Funds 

David Brown (University of Arizona) and Shaun William Davies (University of Colorado)

Discussant: Petra Vokata (Ohio State University)

SESSION 4: Risk, Return, and Growth 

Chair: Samuli Knüpfer (Aalto University)

The Return of Return Dominance: Decomposing the Cross-Section of Prices

Ricardo De la O (University of Southern California), Xiao Han (Bayes Business School), and Sean Myers (University of Pennsylvania)

Discussant: Paul Rintamäki (Aalto University)

The Subjective Risk and Return Expectations of Institutional Investors 

Spencer Couts (University of Southern California), Andrei Gonçalves (Ohio State University), and Johnathan Loudis (University of Notre Dame)

Discussant: David Brown (University of Arizona)

DINNER

Restaurant Garden by Olo, Helenankatu 2, Helsinki

SESSION 5: Thinking about Climate 

Chair: Petri Jylhä (Aalto University) 

Mental Models in Financial Markets: How Do Experts Reason About the Pricing of Climate Risk? 

Rob Bauer (Maastricht University), Katrin Gödker (Bocconi University), Paul Smeets (University of Amsterdam), and Florian Zimmermann (IZA and University of Bonn)

Discussant: Tuomas Tomunen (Boston College)

Climate Transition Beliefs 

Marco Ceccarelli (Vrije Universiteit Amsterdam) and Stefano Ramelli (University of St. Gallen)

Discussant: Christoph Huber (Aalto University) 

SESSION 6: Retail Option Trading 

Chair: Peter Nyberg (Aalto University) 

An Anatomy of Retail Option Trading

Vincent Bogousslavsky (Boston College) and Dmitriy Muravyev (Michigan State University) 

Discussant: Matteo Vacca (Hanken School of Economics) 

Striking Out: Biases and Losses of Retail Option Traders

Aleksi Pitkäjärvi (Vrije Universiteit Amsterdam) and Matteo Vacca (Hanken School of Economics) 

Discussant: Constantinos Antoniou (University of Warwick)

The Flattening Demand Curves 

Alireza Aghaee (Bocconi University)

Expectations and Attention to Experience 

Heiner Beckmeyer (University of Münster) and Ahmed Guecioueur (INSEAD)

Do Share Repurchases Increase the Value of Non-repurchasing Firms? 

Byungwook Kim (University of California, Irvine)

Nonbank Relationships and Investment Horizon 

Paul Rintamäki (Aalto University)