Department of Finance

People

Matti Keloharju

Research    Teaching

Matti Keloharju. Photographer Kreetta Järvenpää.Eero Kasanen Professor of Finance

Room: G-205 (Chydenia 2nd floor)
Office hours: Fridays 12:15 - 13:15

Tel: +358 40 353 8043
Email: matti.keloharju [at] aalto [dot] fi

 

 

Research

"Match Made at Birth? What Traits of a Million Swedes Tell Us about CEOs”, working paper, 2014, with Renée Adams and Samuli Knüpfer.

"IQ and Mutual Fund Choice", working paper, 2014, with Mark Grinblatt, Seppo Ikäheimo and Samuli Knüpfer. Revise and resubmit, Management Science.

"Common Factors in Stock Market Seasonalities", working paper, 2013, with Juhani Linnainmaa and Peter Nyberg. Revise and resubmit, Journal of Finance.

Do investors buy what they know? Product market choices and investment decisions”, Review of Financial Studies, 25(10), 2921-2958, 2012, with Samuli Knüpfer and Juhani Linnainmaa. Lead article.

IQ, trading behavior, and performance”, Journal of Financial Economics, 104(2), 339-362, 2012, with Mark Grinblatt and Juhani Linnainmaa. Winner of Best Conference Paper Award at the 2010 European Finance Association Conference. (Previously titled: "Do smart investors outperform dumb investors?")

“IQ and stock market participation”, Journal of Finance, 66(6), 2121-2164, 2011, with Mark Grinblatt and Juhani Linnainmaa.

Sensation seeking, overconfidence, and trading activity”, Journal of Finance 64(2), 549-578, 2009, with Mark Grinblatt. Lead article.

Social influence and consumption: Evidence from the automobile purchases of neighbors”, Review of Economics and Statistics 90(4), 735–753, 2008, with Mark Grinblatt and Seppo Ikäheimo.

Do retail incentives work in privatizations?”, Review of Financial Studies 21, 2061-2095, 2008, with Samuli Knüpfer and Sami Torstila.

Strategic behavior and underpricing in uniform price auctions: Evidence from Finnish treasury auctions”, Journal of Finance 60, 1865-1902, 2005, with Kjell G. Nyborg and Kristian Rydqvist.

Tax-loss trading and wash sales”, Journal of Financial Economics 71, 51-76, 2004, with Mark Grinblatt.

What Makes Investors Trade?”, Journal of Finance 56, 589-616, 2001, with Mark Grinblatt. Winner of Smith Breeden Distinguished Paper prize.

How distance, language, and culture influence stockholdings and trades”, Journal of Finance 56, 1053-1073, 2001, with Mark Grinblatt.

The investment behavior and performance of various investor types: A study of Finland's unique data set”, Journal of Financial Economics 55, 43-67, 2000, with Mark Grinblatt.

Why do firms raise foreign currency denominated debt? Evidence from Finland”, European Financial Management 7, 481-496, 2001, with Mervi Niskanen. Winner of EFM 2001 Best Paper Award.

"The Winner's Curse, Legal Liability, and the Long-Run Price Performance of Initial Public Offerings in Finland", Journal of Financial Economics 34, 251-277, 1993.

Descriptive Research

"Mutual Fund and Share Ownership in Finland", Finnish Journal of Business Economics 60, 180-200, 2012, with Samuli Knüpfer and Elias Rantapuska.

What's new in finance?”, European Financial Management 14(3), 564-608, 2008.

A descriptive analysis of the Finnish treasury bond market 1991-99”, Finnish Journal of Business Economics 51, 259-279, 2002, with Markku Malkamäki, Kjell G. Nyborg, and Kristian Rydqvist.

Shareownership in Finland 2000”, Finnish Journal of Business Economics 50, 188-226, 2001, with Jussi Karhunen.

Teaching

Advanced Corporate Finance, lectures

Master’s Thesis Seminar

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