The Economics of Value

Speaker: Dimitris Papanikolaou is Associate Professor at the Kellogg School of Management at Northwestern University, a NBER Fellow and a Fellow at the Institute of Finance and Financial Regulation (IFFR). Professor Papanikolaou began his academic career at Kellogg in 2007. His research interests lie at the intersection of finance and innovation. He works on a variety of topics including the measurement and valuation of intangible assets; the effects of technological shocks on asset returns, firm investment decisions and income inequality; and the effects of financing frictions on investment and employment. Professor Papanikolaou holds a Ph.D. from the Massachusetts Institute of Technology, an M.Sc. in Finance, from the London School of Economics and B.A. in Finance from the University of Piraeus, Greece.

Value-like strategies have historically delivered returns that beat the market. Are these abnormal returns evidence of market irrationality or due to priced economic risks? The answer determines whether these patterns are likely to persist going forward. The event was jointly organized by the IFFR and the CFA Society Greece.