Young Scholars Nordic Finance Workshop

23-24 November

Aarhus University and The Nordic Finance Network (NFN) are organizing the 6th Finance Workshop for young scholars from Nordic universities on November 23-24, 2017 in Aarhus. The workshop offers junior faculty from Nordic universities a forum to present their research. In addition, the workshop aims to provide an opportunity for junior and senior faculty to meet and interact.

The Venue

Aarhus BSS
Department of Economics and Business Economics
Fuglesangs Allé 4
8210 Aarhus V
Building 2610, room 520

Paper presentations

Each paper has 40 minutes, divided as follows:

  • 20 min for the presenter to present the paper,
  • 15 min for the discussant,
  • 5 min for the presenter to answer the discussant, and take questions from the audience.

Programme Thursday 23 November

11:45-12:25     Sandwiches - served outside the lecture room    
12:25‐12:30 Welcome address: TBA
Session 1

Chair: Jan Bartholdy, Aarhus University


Daily Winners and Losers

Alok Kumar

Stefan Ruenzi

Michael Ungeheuer, Aalto University

Discussant: Stig Vinther Møller, Aarhus University


The Financial Intermediation Premium in the Cross Section of Stock Return

Tatyana Marchuk, BI Norwegian Business School

Discussant: Thomas Quistgaard Pedersen, Aarhus University


Borrower Heterogeneity and the (Ir)Rational Demand for Short-Term Credit

David M. Becker

Lena Jaroszek, Copenhagen Business School

Martin Weber

Discussant: Charlotte Christiansen, Aarhus University

14:30-14:50  Coffee Break 
Session 2  Chair: Carsten Tanggaard, Aarhus University

Retail trading costs in complex markets

Michał Dzieliński, Stockholm Business School

Björn Hagströmer

Lars L. Nordén

Discussant: Cristina Scherrer, Aarhus University


Riskiness of real Estate Development: A Perspective from Urban Economics & Option Value Theory

David Geltner

Anil Kumar, Aarhus University

Alex M. Van de Minne

Discussant: Stefan Hirth, University of Southern Denmark

16:10-16:25  Break
Session 3 Chair: Tom Engsted, Aarhus University

Cross-sectional return dispersion and currency momentum

Jonas N. Eriksen, Aarhus University

Discussant: Alberto Plazzi, Swiss Finance Institute


Size-related premiums

Thiago De Oliveira Souza, University of Southern Denmark

Discussant: Jylhä Petri, Aalto University


Departure for hotel Scandic Aarhus City, Østergade 10, 8000 Aarhus C

Dinner at Restaurant Komfur, Guldsmedegade 38-40, Aarhus C

Map of the workshop venues

How to get to Aarhus BSS from the hotel

Programme Friday 24 November

Session 4

Chair: Mikko Leppämäki, Aalto University


The Cost of Being Different: Peer Costs of Cash Holdings

Einar C. Kjenstadt, Aarhus University

Discussant: Kristian Miltersen, Copenhagen Business School


How (and why) do Firms Repurchase Stock?

Manoj Kulchania

Rohit Sonika, Aalto University

Discussant: Gonul Colak, Hanken School of Economics

9:35-9:55  Coffee Break 
Session 5  Chair: Niels Strange Grønborg, Aarhus University

Is There Flow-Driven Price Impact in Corporate Bond Markets

Jaewon Choi

Sean Seunghun Shin, Aalto University

Discussant: Jens Dick-Nielsen, Copenhagen Business School


An Explanation of Negative Swap Spreads

Sven Klingler, BI Norwegian Business School

Suresh Sundaresan

Discussant: Thomas Kokholm, Aarhus University

11:15-11:45  Sandwiches - served outside the lecture room 
11:45 Departure for the airport for SK1248 departure 13.15 – Aarhus University arranges the transport

Hotel and dinner

Confence hotel

Scandic City Aarhus
Østergade 10, DK-8000 Aarhus C


Conference dinner

Restaurant Komfur
Guldsmedgade 38-40, 8000 Aarhus C

Travel information

By plane

Aarhus Airport/Tirstrup is located 40 km north of Aarhus. There are several daily connections from Copenhagen International Airport (flying time 35 minutes). Aarhus Airport/Tirstrup has direct international flight connections to London, Prague, Malaga, Stockholm, Gothenburg and Oslo. The bus from Tirstrup to Aarhus costs DKK 115 one way (travel time approx. 50 minutes). The final stop is the train station in the center of Aarhus and close the major hotels.

There is a bus stop at main university campus. If you get off here you can either walk (about 2 km) or shift to bus line 5A (Tangkrogen). Get off at Viborgvej/Vestre Ringgade. The buildings on your right hand is the ECON department. The airport bus ticket is valid in bus line 5A if you connect right away.

Billund Airport is located 100 kilometers south of Aarhus and has direct international flight connections to many European cities. The bus ride from Billund to Aarhus takes approximately 1.5 hours, and costs around DKK 160 one way. Taxi and limousine services are also available.

By train

From Southern and Central Europe connections to Aarhus go via Hamburg/Flensburg. If you want to travel at night, it can be an advantage to go via Copenhagen. Travel time from Hamburg to Aarhus is about 5 hours. You may have to switch trains.

From Eastern Europe and CIS countries train connections to Aarhus go via Poland and Copenhagen.

From Scandinavian countries you can travel via Copenhagen or by ferry to Frederikshavn or Grenå, and from there by train or bus to Aarhus.

From Copenhagen Airport there are hourly direct connections to Aarhus with comfortable Inter City trains. The travel time is about 3.5 hours and a one way ticket costs approximately DKK 388 (standard - first class DKK 538) excluding recommended seat reservation (DKK 30).

By car

From Southern and Central Europe the route goes via Hamburg. Driving from Hamburg takes 4-5 hours by freeway. If you are traveling from other Scandinavian countries, there are ferries to Northern Jutland (Frederikshavn, Hirtshals or Grenå).

By bus

Bus line 3A (Tilst) goes directly to the university every 10th minute from the city center. Enter the yellow city busses ("bybus" in Danish) through the rear or middle door and buy your ticket at the ticket machine. Find the bus at Banegårdspladsen and get off the bus at the intersection Viborgvej/Vestre Ringgade. From here you enter the ECON department's buildings. The price is DKK 20 (2 zones).


All taxis in Aarhus are metered and most taxis accept major credit cards. Tax and tips are included in the meter price. Taxis can be hired on the street or ordered by phone (no extra charge).

You can also always find and hire a taxi at the railway station.

Aarhus Taxa: Tel. +45 89 484848
DanTaxi: Tel. +45 70 252525