Department of Economics and Business Economics

 Department of Economics and Business Economics Research Research sections Finance

Finance

Welcome to the Finance section. The section conducts theoretical and empirical research within all areas of finance, including asset pricing, household finance, corporate finance, quantitative finance, and financial institutions.

Our research is widely published in leading international journals, and our members regularly participate in scientific conferences around the world. We offer an active research environment that values regular research seminars with both leading international academics in our field and internal section members. Our members deliver high-quality research-based teaching to the department’s educational programmes within finance and participate in the public debate. The section is home to an international group of more than 30 faculty members and around 10 PhD students. Aarhus University is a member of the Nordic Finance Network (NFN)

Recent publications

Sort by: Date | Author | Title

Meyer, S. & Uhr, C. (2024). Ambiguity and private investors’ behavior after forced fund liquidations. Journal of Financial Economics, 156, Article 103849. https://doi.org/10.1016/j.jfineco.2024.103849
Hanson, S. G., Malkhozov, A. & Venter, G. (2024). Demand-and-Supply Imbalance Risk and Long-term Swap Spreads. Journal of Financial Economics, 154, Article 103814. https://doi.org/10.1016/j.jfineco.2024.103814
Christensen, B. J., Neri, L. & Parra-Alvarez, J. C. (2024). Estimation of continuous-time linear DSGE models from discrete-time measurements. Journal of Econometrics, 244(2), Article 105871. https://doi.org/10.1016/j.jeconom.2024.105871
Meyer, S. & Pagel, M. (2024). Fresh Air Eases Work—the Effect of Air Quality on Individual Investor Activity. Review of Finance, 28(3), 1105-1149. https://doi.org/10.1093/rof/rfae005
Kundu, S. (2024). Impact of Regulation on Shareholder Value: Evidence from the 2016 U.S. Presidential Election. Journal of Financial and Quantitative Analysis, 59(4).
Andersen, D. B., Eriksen, J. N., Kjær, M. M. & Thyrsgaard, M. (2024). Predicting bond return predictability. Management Science, 70(2), 931-951. https://doi.org/10.1287/mnsc.2023.4713
Møller, S. V., Pedersen, T. Q., Montes Schütte, E. C. & Timmermann, A. (2024). Search and Predictability of Prices in the Housing Market. Management Science, 70(1), 415–438. https://doi.org/10.1287/mnsc.2023.4672
Huang, T., Kumar, A., Sacchetto, S. & Vergara-Alert, C. (2024). Stock Comovement and Financial Flexibility. Journal of Financial and Quantitative Analysis, 59(3), 1141-1184. https://doi.org/10.1017/S0022109022001338
Hilpert, C., Hirth, S. & Szimayer, A. (2024). The Information Value of Distress. Management Science, 70(1), 78-97. https://doi.org/10.1287/mnsc.2022.4632
Merkle, C. & Ungeheuer, M. (2025). Beliefs about beta: upside participation and downside protection. Review of Finance, 29(5), 1397-1436. https://doi.org/10.1093/rof/rfaf028
Giambona, E., Kumar, A. & Phillips, G. M. (2025). Hedging, Contract Enforceability and Competition. Review of Financial Studies, 38(7), 2034-2087. https://doi.org/10.1093/rfs/hhaf025
Uhr, C. (2025). When Financial Advice Leads to Positive Performance: Evidence from Repeated Client–Advisor Interactions. The Review of Financial Studies, 38(11), 3245-3283. Article hhaf056. https://doi.org/10.1093/rfs/hhaf056

Head of section

Thomas Kokholm

Professor
M
H 1816, 528
P +4587165216

Section administrator

Pernille Vorsø Jachobsen

Section administrator, Center Administrator
M
H 1816, 415
P +4587166265
Revised 09.04.2026
-
Birgitte Højklint Nielsen