Department of Finance

Matthijs Lof

Associate Professor of Finance, Head of the Department
Matthijs Lof, photo by Kukka-Maria Rosenlund

Room: T310 (School of Business building, 3rd floor)
Office hours: By appointment

Tel: +358 50 401 4448
Email: [email protected]
Website: personal webpage


Working papers

Comparing Market Beta Estimates (with Petri Jylhä and Yuekun Liu)

Predicting Winner and Loser Stocks: A Classification Approach (with Roope Rihtamo and Henri Nyberg)

Slow Trading and Stock Return Predictability (with Allaudeen Hameed and Matti Suominen)

What Matters to Individual Investors in a Welfare State (With Elias Rantapuska and Alexander Wirtz)


Discount rates and Cash Flows: A Local Projection Approach, 2024, with Henri Nyberg, Journal of Banking and Finance (forthcoming) 

Non-Standard Errors, 2024, with 342 co-authors, Journal of Finance (forthcoming)

Identifying Accounting Conservatism in the Presence of Skewness, 2024, with Henry Jarva, Review of Quantitative Finance and Accounting 62, 553–577.

Asymmetric information and the Distribution of Trading Volume, 2023, with Jos van Bommel, Journal of Corporate Finance 82, 102464. Internet appendixData.

Mind the Basel Gap, 2022, with Petri Jylhä, Journal of International Financial Markets, Institutions & Money 79, 101605.

“Expected market returns: SVIX, realized volatility, and the role of dividends”, 2019, Journal of Applied Econometrics 34, 858 - 864.

“Noncausality and the Commodity Currency Hypothesis”, 2017, with Henri Nyberg, Energy Economics 65, 424 - 433.

“Rational Speculators, Contrarians and Excess Volatility”, 2015, Management Science 61, 1889 - 1901.

“Aid and Income: Another Time-Series Perspective”, 2015, with T. Mekasha, and F. Tarp, World Development 69, 19-30.

“Rejoinder to Herzer, Nowak-Lehmann, Dreher, Klasen, and Martinez-Zarzoso”, 2015, with T. Mekasha, and F. Tarp, World Development 70, 397-399.

“GMM Estimation with Noncausal Instruments under Rational Expectations”, 2014, Oxford Bulletin of Economics and Statistics 76, 2, p. 279-286.

”Does sovereign debt weaken economic growth? A Panel VAR analysis”, 2014, with T. Malinen Economics Letters 122/3, 403-407. 

“Noncausality and Asset Pricing”, 2013,Studies in Nonlinear Dynamics & Econometrics 17, 211-220.

“Heterogeneity in Stock Prices: A STAR Model with Multivariate Transition Function”, 2012, Journal of Economic Dynamics and Control 36, 1845 – 1854.


Econometrics for Finance (BSc)

Advanced Econometrics for Finance (MSc)

Master Thesis Seminar

  • Published:
  • Updated: