Behavioral Finance: Implications of modern theory & practice

Friday, 09/03/2007

The event took place at 18.30-20.30 at Cotsen Hall of Gennadeios Library (entrance from 9 Anapiron Polemou Str.) and was held in English language.

Until recently, economists have always assumed that people act rationally when investing in the stock market. However, much evidence, including the stock market bubbles in many countries in the late 1990s, has cast doubt on this view. As a result, there is much interest in an alternative view of financial markets, Behavioral Finance, which argues that some financial phenomena are the result of irrational behavior on the part of some market participants, and which draws on research in psychology in order to understand the ways in which people are irrational. This talk was an introduction to recent research in Behavioral Finance and included examples of applications in a number of different areas: understanding the prices of individual stocks and of stock markets; understanding how ordinary investors choose their portfolios and trade stocks over time; and understanding the actions of firm managers.

Program:

Welcome address:
Professor Nickolaos G. Travlos, The Kitty Kyriacopoulos Chair in Finance and Dean, ALBA Graduate Business School
Mr. Alexios Pilavios, Chairman, Hellenic Capital Market Commission
Mr. Spyridon Capralos, Chairman, Athens Stock Exchange

Guest Speaker:
Professor Nicholas C. Barberis, Stephen and Camille Schramm Professor of Finance, Yale School of Management

Commentators:
Dr. Stavros Siokos, Managing Director, Alternative Execution Sales, Citigroup Corporate and Investment Banking
Mr. Constantinos Thanassoulas, CEO, LARCO GMM S.A.
Mr. George Papoutsis, Association of Greek Institutional Investors

Coordinator:
Dr. Nicholas Tessaromatis, Associate Professor of Finance and Academic Director of MSc in Finance Program, ALBA Graduate Business School

Nicholas Barberis is one of the best-known researchers in the field of behavioral finance. Winner of the Paul A. Samuelson Prize for outstanding research, the FAME Research Prize, as well as multiple teaching awards and other honors, he is the Stephen and Camille Schramm Professor of Finance at Yale University. Educated at Cambridge University, he earned his Ph.D. in Business Economics from Harvard. Prior to his appointment at Yale, he taught for several years at the University of Chicago’s Graduate School of Business. Along with authoring numerous research papers for scholarly journals, he gives frequent talks to practitioner audiences about his work.

For more information you may contact Ms. Sophie Dimitriadou, tel. 210 8964531-8, e-mail: communications@alba.edu.gr