BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//132.216.98.100//NONSGML kigkonsult.se iCalcreator 2.20.4//
BEGIN:VEVENT
UID:20250512T150234EDT-5084Ubpx0t@132.216.98.100
DTSTAMP:20250512T190234Z
DESCRIPTION:Ms. Nan Ma\, a doctoral student at ÐãÉ«Ö±²¥ in the are
 a of Finance will be presenting her research proposal entitled:\n\nTwo ess
 ays on asset pricing and information economics\n\n \n\n\n\nTuesday\, Decem
 ber 10\, 2024\, at 10:00am – 12:00pm\n\nStudent Committee Chair: Professor
  Daniel Andrei & Professor Vihang Errunza\n\nPlease note that the presenta
 tion will be conducted on Zoom. Only the student and their committee membe
 rs will participate in the presentation.\n\n\nABSTRACT\n\nThis thesis comp
 rises two essays that explore the impact of information frictions and unce
 rtainty on investor learning and asset pricing in financial markets.\n\nTh
 e first essay develops a theoretical framework examining how social inform
 ation transmission within echo chambers affects financial markets. The res
 ults reveal that investors who acquire private information through word-of
 -mouth communication within echo chambers develop unconscious biases in th
 e information-sharing process. These biases foster polarized views among i
 nvestors\, contributing to belief polarization\, increased trading volume\
 , and influencing asset expected returns. I further show the speed-up of c
 ommunication intensifies these effects.\n\nThe second essay investigates h
 ow uncertainty resolution influences the well-known momentum and value ano
 malies\, shedding light on their theoretical origins. I first provide empi
 rical evidence that momentum and value anomalies predominantly earn abnorm
 al returns on days of high and low market uncertainty resolution\, respect
 ively. A theoretical model is further developed to explain this empirical 
 pattern\, offering economic insights into the anomalies’ abnormal returns 
 and their connection to market uncertainty resolution.\n
DTSTART:20241210T150000Z
DTEND:20241210T170000Z
SUMMARY:PhD Research Proposal Presentation: Nan Ma
URL:/desautels/channels/event/phd-research-proposal-pr
 esentation-nan-ma-361871
END:VEVENT
END:VCALENDAR