Department of Finance

Department of Finance

The Department of Finance is the leading finance department in Finland with a strong dedication to research, as shown by a stream of research published in top Finance and Economics journals.

The department runs an excellent seminar series and is equipped with all major finance databases. The department offers finance education at Bachelor, Master and Doctoral level. Finance PhD studies are organized within the Graduate School of Finance (GSF). The Department of Finance also hosts the Nordic Finance Network (NFN).

 

Architectural picture of the inside of the School of Business. Many people sitting on different coloured chairs.

People

Professors

Vesa Puttonen

Professor of Finance, Head of the Department

Vesa Puttonen, photo by Evelyn Kask

Renée Adams

Visiting Distinguished Professor

Renée Adams, Visiting Distinguished Professor

Zhi Da

Visiting Distinguished Professor

Zhi Da, Visiting Distinguished Professor

Juha Joenväärä

Assistant Professor of Finance

Juha Joenväärä, photo by Evelin Kask

Petri Jylhä

Assistant Professor of Finance

Petri Jylhä, photo by Kreetta Järvenpää

Eero Kasanen

Professor Emeritus of Finance

Eero Kasanen

Markku Kaustia

Professor of Finance, Hannes Gebhard Professor in Finance and Insurance

Markku Kaustia, photo by Kreetta Järvenpää

Matti Keloharju

Professor of Finance, Aalto Distinguished Professor

Matti Keloharju

Joni Kokkonen

Visiting Assistant Professor

Visiting Assistant Professor Joni Kokkonen, photo by Evelin Kask

Matthijs Lof

Assistant Professor of Finance

Matthijs Lof, photo by Aino Huovio

Peter Nyberg

Assistant Professor of Finance

Peter Nyberg, photo by Kreetta Järvenpää

Elias Rantapuska

Associate Professor of Finance

Elias Rantapuska, photo by Evelin Kask

Sean Seunghun Shin

Assistant Professor of Finance

Sean Seunghun Shin, photo by Lasse Lecklin

Antti Suhonen

Professor of Practice in Finance

Antti Suhonen, photo by Lasse Lecklin

Matti Suominen

Professor of Finance

Matti Suominen, photo by Kreetta Järvenpää

Sami Torstila

Associate Professor of Finance

Sami Torstila, photo by Lasse Lecklin

Michael Ungeheuer

Assistant Professor of Finance

Michael Ungeheuer, photo by Lasse Lecklin

Job Market Candidates

Ellapulli Vasudevan (Vasu)

Doctoral Student

Ellapulli Vasudevan

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Graduate School of Finance

Mikko Leppämäki

Director, GSF

Mikko Leppämäki, photo by Kreetta Järvenpää

Reetta Ali-Alha

Coordinator, GSF

Reetta Ali-Alha, photo by Lasse Lecklin

Postdoctoral Researchers

Nikolas Breitkopf

Postdoctoral Researcher

Nikolas Breitkopf, photo

Niilo Luotonen

Postdoctoral Researcher

Niilo Luotonen, Postdoctoral Researcher

Theresa Spickers

Postdoctoral Researcher

Theresa Spickers, photo by Lasse Lecklin

Tõnn Talpsepp

Postdoctoral Researcher

Tõnn Talpsepp, Postdoctoral Researcher

Affiliated Researchers

Petra Vokata

Affiliated Researcher

Petra Vokata, photo by Lasse Lecklin

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Research

The Department of Finance's research covers a broad range of topics in the areas of corporate finance and financial markets. The current focus areas in the research are:

  • behavioral finance
  • corporate finance
  • asset pricing

 

Ongoing research:

Privacy statement for SME survey on financing options during COVID-19 crisis | Tietosuojaseloste kyselyyn pk-yritysten rahoitusvaihtoehdoista koronakriisissä (only in Finnish)

Latest Publications, Department of Finance

Publications

The Department of Finance actively publishes in leading Finance and Economics journals.

Department of Finance
Financial Data, Department of Finance

Financial Data

The Department of Finance has access to high-quality financial databases, such as Datastream, Compustat and CRSP.

Department of Finance
Aalto University/Unto Rautio

Aalto Choice Tank

The purpose of Aalto Choice Tank is to provide a state-of-the-art open-access facility in the Aalto University Otaniemi campus area for experimental research in economics and business.

Studies

Bachelor's Admissions

Familiarise yourself with the application processes by selecting the field and degree level suitable for you. The bachelor’s degree is a lower university degree preceding the master’s degree studies. The master’s degree is a higher university degree.

kauppis_promo_aki-pekka_sinikoski_006_web_fi_fi.jpg

Master's Programme in Finance

The Master’s Programme in Finance prepares students for various leadership and C-level positions in the world’s top companies, including the most prestigious investment banks and management consultancies. Students selected into the programme share high academic potential, motivation and ambition, making Finance graduates an extremely attractive talent pool for global employers. Their critical and truth-seeking mindset, combined with strong analytical skills help solve global business problems across industries from both strategic and practical perspectives.

School of Business Finance

CFA University Affiliation Program

Aalto University is a member the CFA Institute University Affiliation Program, widely considered the investment profession’s most rigorous credentialing scheme.

CFA Institute University Affiliation program logo

PhD Programme in Finance

The PhD programme at the Aalto University School of Business is intended for candidates of excellent academic background and intellectual ambition who are motivated in producing research at the highest international level and pursuing careers in the academic and business world.

PhD lecture in Finance, photo: Roope Kiviranta

Seminars

Department of Finance has two weekly seminars:

 

Helsinki Finance Seminar

Helsinki Finance Seminar hosts international guest speakers on Mondays. The presentations take 75 minutes, including discussion. The seminar is organized in co-operation with the Graduate School of Finance (GSF) and Hanken School of Economics. The seminar schedule and contact information of the seminar organizers can be found on the seminar homepage.

Learn more about Helsinki Finance Seminar program

 

Finance Brown Bag Seminar 

The Finance Brown Bag Lunch Seminar is held on Wednesdays from 12:15 to 13:00 at room T004. The Seminar is organized by Assistant Professor Sean S. Shin. All questions related to the seminar can be addressed to him.

Date Presenter Paper
22.1.2020 Matthijs Lof (Aalto University) Mind the Basel Gap
29.1.2020 Sean Shin (Aalto University) The More Illiquid, The More Expensive: A Search-Based Explanation of Illiquidity Premium
12.2.2020 Ivika Jäger (Stockholm School of Economics) The Impact of Automated Information Acquisition on the Stock Market

Friday 14.2.2020

Note exceptional day!

Dinh-Vinh Vo (Lund University) The Response of Exchange Rates to Central Bank Communication: A Textual Analysis Approach
11.3.2020 Michael Ungeheuer (Aalto University) Growth Expectations out of WACC
18.3.2020 ***CANCELLED*** Michael Ungeheuer (Aalto University) Information, Trade, and Salient Returns

25.3.2020 ***CANCELLED***

Kam-Ming Wan (Hanken School of Economics) Treatment of Outliers: Firm Heterogeneity in Managerial Incentives and Corporate Innovation
8.4.2020 ***CANCELLED*** Petri Jylhä (Aalto University) Leverage Constraints and Portfolio Choice

Thursday 16.4.2020 ***CANCELLED***

Tarun Chordia (Emory University) Market Efficiency in Real Time: Evidence from Low Latency Activity around Earnings Announcements
22.4.2020 ***CANCELLED*** George Aragon (Arizona State University) TBA
27.5.2020 ***CANCELLED*** Renée Adams (University of Oxford) TBA

Friday 14.8.2020 at 11.15

***CANCELLED***

Zhi Da (University of Notre Dame) TBA

Past Brown Bags

Graduate School of Finance banner

Graduate School of Finance

Nordic Finance Network

The Department of Finance hosts the Graduate School of Finance (GSF), the national PhD program in Finance, and the Nordic Finance Network (NFN), a collaborative network for research and doctoral training in the Nordic countries.

Contact information

Visiting address

School of Business building (3rd floor)
Ekonominaukio 1
FI-02150 Espoo
Finland

Postal address

Department of Finance
Aalto University School of Business
PO BOX 21210
FI-00076 AALTO
FINLAND

Department Administration

Head of the Department: Professor Vesa Puttonen
Secretaries of the Department: Sara Viitala and Reetta Ali-Alha

Inquiries regarding

Aalto-yliopisto Kauppakorkeakoulu julkisivu Ekonominaukio helmikuu 2019 Kuva: Mikko Raskinen

School of Business

Address: Ekonominaukio 1, 02150 Espoo
Open Mon-Thu 7.45-21.00, Fri 7.45-20.00, Sat-Sun Closed

Locations

News

Vesa Puttonen's book Miten sijoitan rahastoihin (How to invest in mutual funds)
Research & Art Published:

New book from Professor Vesa Puttonen

The book is titled “Miten sijoitan rahastoihin” (How to invest in mutual funds).
Vesa Puttonen's book published in Estonian.
Research & Art Published:

Professor Vesa Puttonen’s book published in Estonian

The book ”Navigating the investment minefield” by H. Kent Baker and Vesa Puttonen has been published now in Estonian by the publisher Äripäev.
Research & Art Published:

During the COVID-19 crisis, nearly half of Finnish SMEs have applied for public financing, while less than one sixth have applied for a bank loan

Researchers from Aalto University, Erasmus University (The Netherlands) and the University of St. Gallen (Switzerland) have studied Finnish SMEs' financing options and prospects in the covid-19 crisis.
Research & Art Published:

Michael Ungeheuer’s paper accepted to be published in the Journal of Banking and Finance

Finance Assistant Professor Michael Ungeheuer’s paper has been accepted for publication in the Journal of Banking and Finance.

Events

Yellow Aalto pen
Dissertations

Defence of a Doctoral Dissertation in the field of Management Science, Henrik Kallio (M.Sc.)

The title of the dissertation is “Essays on small group decision-making in a dynamic business simulation game”.
Aalto University Learning Center by Tuomas Uusheimo
Lectures and seminars

Aalto Research Ethics

Course is designed for doctoral students and recommended for first or second year of study. This 2 ECTS course comprises of 46 hours of independent study and 8 hours of workshops with compulsory attendance.
Better Business - Better Society -seminaarin otsikkokuva.
Lectures and seminars

Better Business - Better Society Seminar: ”Koronakriisi ja kansainväliset toimitusketjut – mitä opittiin, mikä muuttuu?”

Better Business — Better Society Seminar Series offers opportunities to learn about and discuss current societally important topics monthly.
Aalto Talent Expo 2020 illustration / Graphic designer Babi Brasileiro.
Exhibitions and fairs

Aalto Talent Expo 2020-21

The recruitment and contact fair Aalto Talent Expo will be organised in Otahalli on the 14th of January 2021. The fair, originally planned for the fall of 2020, has been postponed due to the COVID-19 pandemic.
School of Business
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