Past Courses
Past Courses 2024
The Financial Economics of Entrepreneurship, Private Equity and Venture Capital | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | David Robinson (Fuqua School of Business, Duke University) |
Dates | August 26-30, 2024 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This course is designed to provide a deep, fast-paced dive into the emerging field of entrepreneurial finance. We will cover both classic papers as well as new work. The ultimate objective of the course is to prepare advanced graduate students for research in this rapidly growing sector. |
Applications | Please see course website for instructions. The deadline for applications is August 11, 2024. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. See instructions at the top of the page. |
Selected Topics in Asset Pricing | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Samuel Hartzmark (Carroll School of Management, Boston College) |
Dates | August 14-16, 2024 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This course will explore recent innovations in empirical asset pricing. Specific topics may include mispricing due to behavioral biases, predictable returns based on recurring firm events, and whether or not green investing has influenced market dynamics. |
Applications | Please see course website for instructions. The deadline for applications is August 1, 2024. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. See instructions at the top of the page. |
International Finance | |
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Organizer | Stockholm Business School, Stockholm University, Sweden |
Instructor | Lucio Sarno (Cambridge Judge Business School, Cambridge University) |
Dates | August 5-9, 2024 |
Place | Stockholm Business School, Stockholm University, Sweden |
Information | The course is intended for PhD students who have completed their core courses (macro, micro, econometrics, etc.). It could be considered a necessary “field course” for those interested in international macro and finance. The course is likely to be of interest to professionals in the investment industry (e.g., quants at HFTs, at hedge funds, or at buy-side institutions), or researchers in central banks or regulatory agencies. More information will be updated on the course website. |
Applications | Application instructions can be found on the course website in due course. |
Travel Grant | Please make sure to apply for the travel grant early enough in June as the NFN office is closed during July. NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. See instructions at the top of the page. |
Continuous Time Finance | |
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Organizer | Swedish House of Finance, Stockholm School of Economics |
Instructor | Johan Waldén (Haas School of Business, UC Berkeley) |
Dates | August 5-16, 2024 |
Place | Stockholm School of Economics, Stockholm, Sweden |
Information | The development of derivatives markets may be the single most important innovation in financial markets in the last fifty years. The celebrated Merton, Black & Scholes option pricing formula derived in the 70’s has arguably been the most successful research paper in social sciences. The formula has been widely adopted by market participants, and has initiated a new field, Financial Engineering, which occupies researchers in financial institutions and universities throughout the world. The focus of the course is on applied stochastic calculus applied to problems within finance. We will cover the theory of noarbitrage, Brownian motion, Ito integrals and calculus (Ito’s lemma), change of measure (Girsanov’s theorem), and links to partial differential equations (Feynman Kac’s theorem, Kolmogorov equations). We apply the theory to derive many continuous time asset pricing formulas, including the celebrated Black-Scholes formulas for pricing plain-vanilla options. We also discuss equilibrium models in continuous time (Lucas tree economy, Cox Ingersoll Ross economy). More information on the course website. |
Applications | Please register by sending an email to course secretary Jenny Wahlberg Andersson at jenny.wahlberg.andersson (@) hhs.se by June 30, 2024. |
Travel Grant | Please make sure to apply for the travel grant early enough in June as the NFN office is closed during July. NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. See instructions at the top of the page. |
Summer School in Market Microstructre | |
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Organizer | Stockholm Business School, Stockholm University |
Instructor | Thierry Foucault (HEC Paris) & Albert J. Menkveld (VU Amsterdam) |
Dates | July 1-5, 2024 |
Place | Stockholm Business School, Stockholm University, Sweden |
Information | A one-week full-time intensive course on market microstructure at PhD or advanced research master level. The course aims to acquaint students with the field of market microstructure, both theoretically and empirically. Market microstructure has grown rapidly as an important subfield of finance. Research in this field focuses on the intertwined relationships between volatility, liquidity, price discovery, market design, and ultimately welfare. Models in market microstructure provide a framework for the analysis of price movements and trading volume. More information is available at the course website. *This edition will feature a guest lecture by Paul Milgrom (Stanford)* |
Applications | Application is open, see the course website. The deadline for applications is December 1, 2023. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. See instructions at the top of the page. |
Empirical Finance: Identification Strategies in Corporate FInance | |
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Organizer | Copenhagen Business School |
Instructor | Kasper Meisner Nielsen (Copenhagen Business School) |
Dates | June 26-27, 2024 |
Place | Copenhagen Business School, Frederiksberg, Denmark |
Information | The aim of the class is to introduce PhD students in finance and related fields to identification strategies in corporate finance. The course is designed to provide an introduction to some of the empirical methods used to identify causal effects in corporate finance. We will examine how to estimate causal effects in the presence of potentially unobserved confounding factors and how to make proper statistical inference about empirical estimates. The goal of the course is to provide PhD students with a methodological framework that will enhance their ability to design sound identification strategies in the area of corporate finance. |
Applications | Registration deadline is May 13, 2024. Link to registration can be found on the course website. Course fee is waived for NFN students. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. See instructions at the top of the page. |
Behavioral Finance | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Markku Kaustia (Aalto University) |
Dates | June 10-14, 2024 |
Place | Aalto University School of Business, Espoo, Finland |
Information | Behavioral Finance is an approach to the analysis of asset prices, corporate finance, and financial decision-making in general, that relaxes some key assumptions of neoclassical financial economics. Namely, it considers a larger class of objective functions, not always compatible with expected utility. Second, it entertains the possibility that expectations are sometimes biased, and not updated in a Bayesian manner. Third, it considers how various financial market frictions can form strong ‘limits to arbitrage’. This course is designed to introduce doctoral students to these concepts, and to support them in developing behavioral research ideas of their own. |
Applications | Application instructions can be found on the course website. The deadline for applications is May 26, 2024. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. See instructions at the top of the page. |
Experimental Finance Summer School | |
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Organizer | University of Stavanger |
Instructor | Jacopo Magnani (Norwegian University of Science and Technology), Nadya Malenko (Boston College), Olga A. Rud (University of Stavanger) & Orly Sade (Hebrew University of Jerusalem) |
Dates | June 8-10, 2024 |
Place | University of Stavanger, Stavanger, Norway |
Information | The goal of the summer school is to deepen students’ understanding and knowledge of the field of experimental finance. More information on the course website. The Summer School is organized in connection with the Experimental Finance 2024 Conference taking place on June 10-13. The students are also invited to attend the conference.The conference will also host a networking session on women in finance. More information on the conference page. |
Applications | The application deadline for the summer school is March 12, 2024. Please submit your CV and letter of motivation via https://www.conftool.org/ef2024/ |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Norway. See instructions at the top of the page. |
Advanced Topics in Asset Pricing | |
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Organizer | BI Norwegian Business School |
Instructor | Jules H. van Binsbergen (University of Pennsylvania) |
Dates | June 3-6, 2024 |
Place | BI Norwegian Business School, Oslo, Norway |
Information | This course exposes students to recent developments in the asset pricing literature. The starting point for the course is the standard neo-classical rational expectations framework. We will then critically investigate where this framework has succeeded and where it has not. Recently documented deviations from the framework in the literature are discussed and placed in context. The course will also focus on hypothesis development, recent research methods, and research writing. The ultimate objective is for students to develop their own hypotheses and research ideas. The final deliverable for the course is a research proposal or (even better) a paper. In addition to lecturing by the instructor, the second half of the course (quarter 2) will feature presentations of research proposals as well as discussions of recent papers by the students More information on the course syllabus. |
Applications | If you are interested in participating in the course, please contact Professor Paul Ehling at paul.ehling (@) bi.no |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Norway. See instructions at the top of the page. |
Empirical Corporate Finance | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Renée Adams (Saïd Business School, University of Oxford) |
Dates | May 21-25, 2024 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This course offers a doctoral level introduction to Empirical Corporate Finance and aims to prepare doctoral students to do research on their own in this field. More information will be updated on the course website. |
Applications | Application instructions can be found on the course website in due course. The deadline for applications is May 6, 2024. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. See instructions at the top of the page. |
Advanced Empirical Market Microstructure | |
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Organizer | Norwegian School of Economics |
Instructor | Jonathan Brogaard (University of Utah) |
Dates | May 20 – 24, 2024 |
Place | Norwegian School of Economics, Bergen, Norway |
Information | The course introduces students to recent advances in the area of empirical market microstructure. After an introduction to event studies, we will cover the topic of news and price discovery. We will also deal with algorithmic / high frequency trading. Finally, we will examine more specialized topics such as the effect of short sales on market quality. More information on the course website. |
Applications | If you are interested in participating in the course, please contact Associate Professor Konrad Raff at konrad.raff (@) nhh.no. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Norway. See instructions at the top of the page. |
Advanced Topics in Corporate Finance | |
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Organizer | Norwegian School of Economics |
Instructor | Ran Duchin (Boston College) |
Dates | May 13-16, 2024 (& final onlince session later) |
Place | Norwegian School of Economics, Bergen, Norway |
Information | This is an advanced PhD level course on corporate finance. Primary topics of the course concern finance & political economy and corporate governance. Moreover, the course will cover finance & ESG and financial crises. On the methodological side, emphasis will be placed on causality and identification. Finally, the course will also include sessions on the publication process and on how to conduct research. More information on the course website. |
Applications | If you are interested in participating in the course, please contact Associate Professor Konrad Raff at konrad.raff (@) nhh.no. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Norway. See instructions at the top of the page. |
Topics in Empirical Asset Pricing | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Tarun Chordia (Emory University) |
Dates | April 2-5, 2024 |
Place | Aalto University School of Business, Espoo, Finland |
Information | More information will be updated on the course website. This NFN course refers to part II of the GSF course Empirical Asset Pricing. This intensive course is worth 3 ECTS credits. |
Applications | Application deadline is March 11, 2024. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Long-Term Asset Pricing and Sustainability | |
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Organizer | Norwegian School of Economics |
Instructor | Christian Gollier (Toulouse School of Economics) |
Dates | March 19-22, 2024 |
Place | Norwegian School of Economics, Bergen, Norway |
Information | This course aims at providing science-based instruments to assist public and private decision makers in their evaluation of actions and policies in the face of long-term global risks. How should we manage nuclear wastes? How should we price greenhouse gases? What is the optimal capacity of intensive care units in hospitals in the face of the next “black death” pandemic? I will show standard asset pricing theories can be extended to extreme risks and very long time horizons to translate our responsibility towards future generations and the notion of sustainability into practical evaluation tools such as risk-adjusted discount rates (ineffectively) used by corporations and evaluators of public investment projects around the world. This course will be mostly about how one should value investments from the viewpoint of the public good, i.e., including environmental externalities and secular impacts. I will also talk about climate finance, including the concepts of CSR and ESG criteria, and how firms and markets actually value green investments. More information on the course website. |
Applications | If you are interested in participating in the course, please contact Associate Professor Konrad Raff at konrad.raff (@) nhh.no. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Norway. |
Big Data Asset Pricing | |
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Organizer | Copenhagen Business School |
Instructor | Lasse Heje Pedersen & Marc Hartung Eskildsen (Copenhagen Business School) |
Dates | January 18 – February 29, 2024 |
Place | Copenhagen Business School, Frederiksberg, Denmark / Hybrid |
Information | The aim of the class is to introduce Ph.D. students in finance and related fields to empirical asset pricing research methods using big data. The course provides students with empirical asset pricing tools to use big data to analyze modern topics in financial economics. The course starts with a quick overview of asset pricing, empirical asset pricing, and how to work with big financial data. The course then covers the factor zoo, multiple testing adjustments, replication, machine learning in asset pricing, and asset pricing with frictions. In addition to the theoretical discussion, the students will gain access to a large data set of global equity returns and use this data to solve several mandatory exercises, which constitute an essential part of the course. More information on the course website |
Applications | Registration deadline is December 7, 2023. Link to registration can be found on the course website. Course fee is waived for NFN students. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |
Past Courses 2023
Continuous-Time Models for Empirical Corporate Finance | |
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Organizer | Aarhus University |
Instructor | Christopher Hennessy (London Business School) |
Dates | October 24-26, 2023 |
Place | Aarhus University, Aarhus, Denmark |
Information | This course offers a practical tool-box of corporate finance models that can be mapped tightly to the data. Emphasis will be placed on practicality and simplicity, as opposed to theoretical rigor. Hence, we will focus on those models that are easiest to implement and build upon. More information on the course website |
Applications | Registration deadline is October 1, 2023. Instructions for registration will be updated on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |
Survey Evidence in Finance | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Samuel Hartzmark (Carroll School of Management, Boston College |
Dates | October 4-6, 2023 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This course will explore survey design and the application of survey evidence to the study of finance. The class will include an overview of the literature surrounding survey design with a focus on learning how to design questions that elicit accurate and meaningful answers. It will discuss strengths and shortcomings of survey evidence and what finance applications are promising for its use. The course will cover the evolution of surveys in finance and discuss a number of current papers that utilize survey evidence. More information will be updated on the course website |
Applications | Application deadline is September 22, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Sustainable Finance | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Philipp Krüger (University of Geneva) |
Dates | August 21-25, 2023 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This PhD course will provide an introduction to the dynamic and fast expanding research area of sustainable finance.We will start by discussing data and measurement related issues. In doing so, we will cover common ways of quantifying the environmental, social, and governance (ESG) profiles of firms, challenges regarding current data and measurement approaches, and also zoom in on the important topics of ESG reporting standards and disclosure requirements. The second part of the course will focus on the abundant research concerned with the financial performance implications of ESG.We will consider performance issues from both the firm and the invstor perspective. The third part of the course will address the topic of greenwashing and more generally institutional investor behavior when it comes to ESG and sustainability considerations. The fourth part will provide an overview of issues related to GHG emissions and discuss climate finance more generally. In the last part of the course, we will study ESG and sustainability considerations in other asset classes (e.g., fixed income or private equity). More information on the course website |
Applications | Application deadline is August 6, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Financial Intermediation Theory | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Itay Goldstein (Wharton School, University of Pennsylvania) |
Dates | August 1-3, 2023 |
Place | Aalto University School of Business, Espoo, Finland |
Information | More information will be updated on the course website. |
Applications | Application deadline is June 29, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Continuous Time Finance | |
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Organizer | Swedish House of Finance, Stockholm School of Economics |
Instructor | Johan Waldén (Haas School of Business, UC Berkeley) |
Dates | August 1-11, 2023 |
Place | Stockholm School of Economics, Stockholm, Sweden |
Information | More information will be updated on the course page. |
Applications | Please register by sending an email to course secretary Jenny Wahlberg Andersson at jenny.wahlberg.andersson (@) hhs.se by June 30, 2023. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. |
Informational Cascades: Theory and Applications | |
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Organizer | Swedish House of Finance, Stockholm School of Economics |
Instructor | Ivo Welch (UCLA) |
Dates | June 5-9, 2023 |
Place | Stockholm School of Economics, Stockholm, Sweden |
Information | More information will be updated on the course page. |
Applications | Please register by sending an email to course secretary Jenny Wahlberg Andersson at jenny.wahlberg.andersson (@) hhs.se by May 30, 2023. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. |
Household Finance | |
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Organizer | Lund University |
Instructor | Kaveh Majlesi (Monash Business School & Lund University) |
Dates | May 15-16, 2023 (on-campus sessions in Lund) |
Place | Lund University, Lund, Sweden |
Information | The course will be taught in hybrid mode. Outline of the course schedule: 1. End of March: video lectures distributed to registered participants 2. Lasf week of April: online sessions to discuss the material covered in the lecture videos 3. May 15-16: on-campus sessions in Lund See course syllabus here |
Applications | Please contact ulf.persson (@) nek.lu.se for registrations. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Sweden. |
Empirical Corporate Finance | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Renée Adams (Saïd Business School, University of Oxford) |
Dates | May 4-6 & 15-16, 2023 |
Place | Aalto University School of Business, Espoo, Finland |
Information | This course offers a doctoral level introduction to Empirical Corporate Finance and aims to prepare doctoral students to do research on their own in this field. More information will be updated on the course website. |
Applications | Application deadline is April 19, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Dynamic Corporate Finance | |
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Organizer | Copenhagen Business School |
Instructor | Thomas Geelen (Copenhagen Business School) |
Dates | April 11-14, 2023 |
Place | Copenhagen Business School, Frederiksberg, Denmark |
Information | Recent advances in dynamic corporate finance. The aim of this course is two fold. First, it further develops understanding of stochastic calculus and dynamic optimization. Second, it examines how these tools are applied in state of the art theoretical corporate finance research. The course will cover several corporate finance topics: leverage and debt maturity choice; investment in innovation; due diligence, cash holdings, and debt runs More information on the course website |
Applications | Application deadline is March 1, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |
Topics in Empirical Asset Pricing | |
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Organizer | Graduate School of Finance / Aalto University |
Instructor | Tarun Chordia (Emory University) |
Dates | April 11-14, 2023 |
Place | Aalto University School of Business, Espoo, Finland |
Information | More information will be updated on the course website. This NFN course refers to part II of the GSF course Empirical Asset Pricing. This intensive course is worth 3 ECTS credits. |
Applications | Application deadline is March 20, 2023. Application instructions can be found on the course website. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. |
Empirical Finance: Fixed Income | |
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Organizer | Copenhagen Business School |
Instructor | Peter Feldhütter (Copenhagen Business School) |
Dates | March 8 -22, 2023 |
Place | Copenhagen Business School, Frederiksberg, Denmark |
Information | This course is a course on fixed income at the PhD level. The course attempts to lay the groundwork for students who will later do actual empirical research work in fixed income. It is therefore a hands on course where the students will have to perform analysis on actual data, and where the examples are chosen to illustrate the typical questions asked in finance research. The focus is on classic estimation methods, but the course will also, where relevant, outline recent developments. More information on the course website |
Applications | Registration deadline is February 1, 2023. Link to registration can be found on the course website. Course fee is waived for NFN students. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |
Empirical Finance: Identification Strategies in Corporate Finance | |
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Organizer | Copenhagen Business School |
Instructor | Kasper Meisner Nielsen (Copenhagen Business School) |
Dates | February 28 – March 1, 2023 |
Place | Copenhagen Business School, Frederiksberg, Denmark |
Information | The course is designed to provide an introduction to some of the empirical methods used to identify causal effects in corporate finance. We will examine how to estimate causal effects in the presence of potentially unobserved confounding factors and how to make proper statistical inference about empirical estimates. The goal of the course is to provide PhD students with a methodological framework that will enhance their ability to design sound identification strategies in the area of corporate finance. The course content has three main elements: 1. The students will be introduced to the main empirical methods used to identify causal effects in corporate finance. The lectures cover the main econometric challenges as well as guidance on how to estimate causal effects. 2. The course combines lectures on microeconometrics with lectures on seminal papers that apply the empirical methods to research questions in the area of corporate finance. 3. The course has a two problem sets that students must complete. More information on the course website |
Applications | Registration deadline is January 20, 2023. Link to registration can be found on the course website. Course fee is waived for NFN students. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |
Big Data Asset Pricing | |
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Organizer | Copenhagen Business School |
Instructor | Lasse Heje Pedersen & Theis Ingerlsev Jensen (Copenhagen Business School) |
Dates | February 16 – March 23, 2023 |
Place | Copenhagen Business School, Frederiksberg, Denmark |
Information | The aim of the class is to introduce Ph.D. students in finance and related fields to empirical asset pricing research methods using big data. The course provides students with empirical asset pricing tools to use big data to analyze modern topics in financial economics. The course starts with a quick overview of asset pricing, empirical asset pricing, and how to work with big financial data. The course then covers the factor zoo, multiple testing adjustments, replication, machine learning in asset pricing, and asset pricing with frictions. In addition to the theoretical discussion, the students will gain access to a large data set of global equity returns and use this data to solve several mandatory exercises, which constitute an essential part of the course. More information on the course website |
Applications | Registration deadline is January 5, 2023. Link to registration can be found on the course website. Course fee is waived for NFN students. |
Travel Grant | NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Denmark. |