Department of Finance

Elias Rantapuska

Associate Professor of Finance
Associate Professor Elias Rantapuska. Photo by Linda Lehtovirta.

Room: T308 (School of Business building, 3rd floor)
Office hours: Mondays 14-15

Tel: +358 40 353 8419
Email: [email protected]
Skype: eliasrantapuska

Maksuhäiriöt Suomessa 2015-2020 (9.5.2021), a descriptive research report on payment defaults in Finland

More information on the project at, only in Finnish (Lisätietoa hankkeesta sekä oheisen raportin kuviot ja taulukot erikseen ladattavissa sivustolla)


Aalto University
- Associate Professor of Finance (with tenure) 9/2018 -
- Assistant Professor of Finance 7/2010 - 8/2018

McKinsey & Company
- Senior Associate 8/2006-6/2010

Helsinki School of Economics
- Assistant, Researcher, and Assistant Professor of Finance 1/2002-8/2006

J.P. Morgan 
- Intern 6/2002-8/2002


The Banker in Your Social Network by Samuli Knüpfer, Elias Henrikki Rantapuska, Theresa Spickers :: SSRN, 2023.  With Samuli Knüpfer and Theresa Spickers. Working paper.

What Matters to Investors in a Welfare State?”, 2023. With Matthijs Lof and Alexander Wirtz. Working paper. 

"Social Interaction in the Family: Evidence from Investors’ Security Holdings", 2023. With Samuli Knüpfer and Matti Sarvimäki. Review of Finance 27 (4), 1297-1327.

"Ability, Educational Attainment, and Household Financial Distress", 2022. With Vesa Puttonen and Niilo Luotonen. Journal of Consumer Policy, Vol.  45, pages 655–672.

“Maksuhäiriöt Suomessa 2015-2020”, 2022. With Niilo Luotonen and Vesa Puttonen. Kansantaloudellinen aikakauskirja 2/2022, 118(2), 194-216. 

"Mutual Fund and Share Ownership in Finland: Trends and Patterns in 2004-2016", 2021. Nordic Journal of Business Vol. 70, No. 4 (Winter 2021), Nikolas Breitkopf, Samuli Knüpfer and Elias Rantapuska.

”Irrevocable Commitments and Tender Offer Outcomes”, 2021, Journal of Business Finance and Accounting 48, 1290–1331. With Tomi Fyrqvist and Sami Torstila.

Irrevocable commitment data

"Does Short-Term Hunger Increase Trust and Trustworthiness in a High Trust Society?", 2017. With Riitta Freese, Kaisa Hytönen and Iiro Jääskeläinen. Frontiers in Psychology, 07 November 2017.

“Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression”, 2017. With Samuli Knüpfer and Matti Sarvimäki. Journal of Finance 73 (1), 133-166. Featured in the EconomistInternet Appendix.

"Does mood affect trading behavior?", 2016. Journal of Financial Markets 29, 1-26, 2016 (with Markku Kaustia). Internet appendix.

“Mutual fund and share ownership in Finland”, Finnish Journal of Business Economics 61, 178-198, 2012. With Matti Keloharju and Samuli Knüpfer.

“Rational and behavioral motives to trade: Evidence from reinvestment of dividends and tender offer proceeds”, Journal of Banking and Finance, 36(8), 2366–2378, 2012. With Markku Kaustia.

“Which investors leave money on the table? Evidence from rights issues”, Review of Finance, 12(4), 701-733, 2008. With Samuli Knüpfer.

“Ex-dividend day trading: Who, how and why? Evidence from the Finnish market”, Journal of Financial Economics, 88(2), 355-374, 2008.


Advanced Corporate Finance

Capstone: Valuation

Master's thesis

Office hours

Mondays 14-15

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