Curriculum Vitae
Experience
Associate Professor of Finance, INSEAD, Fontainebleau, France, July 2002-2006 (2004-2006 on a partial leave of absence). Program Director of the "Finance for Executives" executive course.
Visiting Associate Professor of Finance, Wharton, USA, July 2005- December 2005.
Assistant Professor of Finance, INSEAD, Fontainebleau, France, July 1997 – June 2002.
Engagement Manager, McKinsey & Co., European Corporate Finance Practice, August 2000 – May 2001.
Selected Working Papers
“Short term reversals,returns to liquidity provision and the costs of immediacy”, Working Paper, 2010, with Kalle Rinne.
“A structural model of short term reversals”, Working Paper, 2009, with Kalle Rinne.
“Value uncertainty, price impact and the choice of the equity issuing method”, Working Paper, 2008, with Kalle Rinne.
“Does bad corporate governance lead to too little competition?”, European Corporate Governance Institute Working Paper 74/2005, March 2005, with Paolo Fulghieri.
Selected Publications
“Speculative capital and currency carry trades”, forthcoming in the Journal of Financial Economics, with Petri Jylhä.
“The manipulation of closing prices”, Journal of Financial Markets 7(4), 351-375, 2004, with Pierre Hillion. Winner of the Journal of Financial Markets 2004 Best Paper Award.
“Industry equilibrium with outside financing and moral hazard: Effects of market integration”, European Economic Review 48(6), 1227-1241, 2004.
“Trading volume and information revelation in stock markets”, Journal of Financial and Quantitative Analysis 36(4), 545-567, 2001.
“Word-of-mouth communication and community enforcement”, International Economic Review 42(2), 399-417, 2001, with Iltae Ahn.
“Measuring competition in banking: A two-product model”, The Scandinavian Journal of Economics 96(1), 95-110, 1994.
“Banking efficiency in the Nordic countries”, Journal of Banking and Finance 17(2-3), 371-388, 1993, with Sigbjorn Atle Berg, Finn R. Førsund, and Lennart Hjalmarsson.
“eBanking in the Nordic countries – its emergence and perspectives”, Management Handbook eBanking, edited by Jürgen Krumnow and Thomas A. Lange, December 2001.
“Deadline effect on an order driven market: An analysis of the last trading minute on the Paris – Bourse”, Global Equity Markets Conference Proceedings, Paris – Bourse and NYSE edited, December 1998, with Pierre Hillion.
Teaching
Advanced Investment Theory (28E00300)
Derivatives and Risk Management (28C00400)
Master’s Thesis Seminar (28E99901)