Meet Our New PhD Students at the Department of Finance

The Department of Finance and Center for Big Data in Finance welcomes five new PhD Students


We are delighted to introduce you to our five new PhD students at the Department of Finance. Each with unique and interesting research areas. Let's get to know them:

Clara Egehoved Tørsløv

My research interest is climate finance. My current project is aiming to compare European and US firms in order to examine the impact of the world's biggest and first major carbon market, the European Emissions Trading System. I'm matching compliant EU firms to twin US firms, and examining differences between groups, to study whether mentioned carbon initiative affects fx. profitability and emission reductions. This is interesting as it's consensus among leading economists to fight climate change with carbon pricing (The Economists’ Statement), and further as the carbon market is an already substantial and fast-growing market.

Clara has joined the Department as a BIGFI PhD Student.

Felix Lundén

The research aims to investigate drivers of variability in excess returns. In my research proposal, I propose the utilization of the statistical method instrumented principal component analysis (IPCA) on a comprehensive data set containing information about stocks, corporate bonds, capital structures, stock options, and macroeconomic variables. While individual factors have shown a strong connection to equity returns, an integrated study is lacking. IPCA offers advantages over traditional factor models and PCA, as it circumvents the need of an ex-ante understanding of empirical behavior of average cross-sectional returns and allows for time-varying factor exposures.

Felix has joined the Department as a BIGFI 4+4 PhD Student.

Jan Gabriel Roth

The PhD project aims to investigate the discrepancy between expected and realized ESG (Environmental, Social, and Governance) returns, drawing upon the theoretical framework developed by Pastor et al. (2021). The study's approach involves the construction of concern indices utilizing both news and social media data, aiming to assess the significance of unforeseen spikes in ESG concerns and their influence on ESG returns. This project therefore expands and complements prior research by examining concern shocks within governance and social dimensions. Furthermore, the proposal explores the utilization of social media sentiment as a proxy for capturing public concerns in the ESG domain.

Jan has joined the Department as a FI PhD Student.

Filip Jedmo

I am researching how global money supply impacts financial markets to determine if expansions and contractions in money or money-like assets have an impact on risk premia in markets.

Filip has joined the Department as a FI PhD Student.

Jon Irizar Amuchastegui

My PhD research will focus on the field of household finance. With Kasper Meisner Nielsen as my supervisor, I aim to investigate the presence of behavioral biases in financial markets, how these affect investors’ decisions and the markets themselves. I also intend to explore the normative side by conducting research on the area of household financial engineering. As of now, I am interested in studying the effect that the COVID-19 pandemic has had on the existing investor base and biases, where the increased informational availability of a new generation of investors may be advantageous for market efficiency.

Jon has joined the Department as a 4+4 PhD Student financed by Kasper Meisner Nielsen’s grant Financial Mistakes.

We are excited to follow their progress and we look forward to the valuable contributions they will make in the field of finance. We hope you will welcome them and take the opportunity to get to know them even better over a cup of coffee. Stay tuned for more updates on their research journeys.

The page was last edited by: Department of Finance // 09/11/2023