Using account-level trading data, we show that option features influence the behavior of retail investors and exacerbate their behavioral biases. These biases contribute negatively to option trading performance.
I am an Assistant Professor of Finance at the Hanken School of Economics, in Finland.
I hold a PhD from Aalto University, also in Finland.
In my research, I focus on the decision-making of retail investors, employees, and executives.
For my CV, please click here.
Research
Striking Out: Losses and Biases of Retail Option Traders (With Aleksi Pitkäjärvi)
Insider Trading With Options
Best PhD student paper at the 6th FutFinInfo Conference
This paper examines employees' trading of own-company options using data from Finland.
Comments to the Editor on "The Willingness to Pay for Diversification" (With Aleksi Pitkäjärvi)
This work grew out of an assignment in the Management Science Reproducibility Project. We document numerous discrepancies between the results reported in Mahmoud (2022) and the results calculated from the experimental data.
Reproducibility in Management Science (With Miloš Fišar et al.)
Note: as member of the Management Science Reproducibility Collaboration
As part of a team of over 700 reviewers, I assessed the reproducibility of two articles published in Management Science.
Diversification at Work: Evidence From Employee Stock Options
This Draft: 09/2024 | PDF |Utilizing granular data on direct stock holdings, I analyze how portfolio considerations and outside wealth influence the decisions of employee stock option grantees.
Panic Herding: COVID-19 Experiences and the Interpretation of Earnings News
Journal of Economics and Business (forthcoming) | DOI | PDF | Analysts' Information |This work is based on my second-year summer PhD paper. I examine how local experiences of the COVID-19 pandemic affect sell-side analysts’ interpretation of earnings news.