NTT Fellow Presents Compelling Research at NTT Dinner
February 4, 2014
Denis Sosyura, the NBD Bancorp Assistant Professor of Finance and the recipient of the NTT Fellowship Award, presented two new papers. The first paper, “Rumor Has It: Sensationalism in Financial Media” (with Kenneth Ahern), shows that financial media skew news coverage toward sensational news, and this news has a large effect on stock prices. The paper provides the first evidence that the accuracy of financial news is predicted by newspaper, journalist, and article characteristics. The findings imply that the fundamental relation between information and asset prices varies based on who is relaying the information to investors.
The second paper, “Managers’ Wealth and Risk-taking: Evidence from Shocks to Managers’ Personal Assets” (with Oleg Chuprinin), provides the first evidence on the income and wealth of mutual fund managers. The paper shows that mutual fund managers alter the risk of their funds’ portfolios in response to changes in managers’ personal wealth. The evidence implies that idiosyncratic shocks to managers’ personal wealth affect the wealth of their clients.
CLICK HERE to view the full presentation.
PhD Students Earn Mitsui Life Awards
October 4, 2013
Each year the Mitsui Life Financial Research Center sponsors graduate student awards in the Ross School of Business Finance Department. This year, two PhD students in the program were honored in early October at a fall award lunch celebrating their achievements. After Professor E. Han Kim delivered opening remarks, Professor Stefan Nagel, PhD Advisor, and E. Han Kim, Director of the Mitsui Center, presented a financial award and plaque to Rahul Chhabra for Best Overall Performance in the First Year and Bret Herzig for Best Overall Performance in the Second Year.