Markku Kaustia

Professori
Professori
E707 Dept. Finance

Application of behavioral finance to a wide range of topics. Currently working on:

1. Fixing the world of finance - ethics in financial advice & democratizing finance

2. Fixing the world with finance - climate finance & digitalized finance

Full researcher profile
https://research.aalto.fi/...

Areas of expertise

Osakkeet, Financial markets, Sijoitusstrategiat, Behavioral finance, Sijoitustoiminta, Sijoittajien käyttäytyminen, Pääomamarkkinat, Pörssi, Kotitalouksien rahoituspäätökset, Osakemarkkinat, Sijoitusneuvojat, Finance, Rahoitus, Sijoittaminen

Honors and awards

Helsinki School of Economics Foundation, award for high quality research 2008

Award or honor granted for a specific work Department of Finance Jan 2008

The Foundation for the Promotion of Securities Markets in Finland, award for high quality research 2012

Award or honor granted for a specific work Department of Finance Jan 2012

The Foundation for the Promotion of Securities Markets in Finland, award for high quality research 2011

Award or honor granted for a specific work Department of Finance Jan 2011

The Foundation for the Promotion of Securities Markets in Finland, award for high quality research 2009

Award or honor granted for a specific work Department of Finance Jan 2009

Emerald Literati Network 2013 Award for Excellence for “Overconfidence and debiasing in the financial industry”, Review of Behavioral Finance 2012

Award or honor granted for a specific work Department of Finance Jan 2013

Top 3 (rank #1) list for the McKinsey Finance Teacher of the Year award 2015

Award or honor granted for a specific work Department of Finance Jan 2015

Top 3 (rank #1) list for the McKinsey Finance Teacher of the Year award 2016.

Award or honor granted for a specific work Department of Finance Jan 2016

Top 3 (rank #1) list for the McKinsey Finance Teacher of the Year award 2017

Award or honor granted for a specific work Department of Finance Jan 2017

Teacher of the year, Aalto University School of Business

Award or honor granted for a specific work Department of Finance Jan 2014

Award for top publication(s), Aalto BIZ Support Foundation

Award or honor granted for a specific work Department of Finance Jan 2015

Publications

Nonstandard Errors

Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Sebastian Neusüß, Michael Razen, Utz Weitzel, David Abad-Díaz, Menachem Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie T. Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James J. Angel, Jian Chen, Teodor Duevski, Petri Jylhä, Markku Kaustia, Yijie Li, Matthijs Lof, Kalle Rinne, Paul Rintamäki, Hai Tran, Wenjia Yu, Xiaoyu Zhang 2024 Journal of Finance

What drives stock market participation? The role of institutional, traditional, and behavioral factors

Markku Kaustia, Andrew Conlin, Niilo Luotonen 2023 Journal of Banking and Finance

Common Analysts

Markku Kaustia, Ville Rantala 2021 Journal of Financial and Quantitative Analysis

Does mood affect trading behavior?

Markku Kaustia, Elias Rantapuska 2016 Journal of Financial Markets

Stock ownership and political behavior

Markku Kaustia, Samuli Knüpfer, Sami Torstila 2016 Management Science

Stock ownership and political behavior

Markku Kaustia, Samuli Knüpfer, Sami Torstila 2016 Management Science

Social learning and corporate peer effects

Markku Kaustia, Ville Rantala 2015 Journal of Financial Economics

The gender effect in risky asset holdings

Marja-Liisa Halko, Markku Kaustia, Elias Alanko 2012 Journal of Economic Behavior and Organization

Overconfidence and debiasing in the financial industry

Markku Kaustia, Milla Perttula 2012 REVIEW OF BEHAVIORAL FINANCE