Department of Finance

Richard Priestley

HEAD OF DEPARTMENT Richard Priestley

The Department of Finance has a strong international orientation, and had employees from 20 different nations in 2015.

The international profile is reflected both in scientific publications and in teaching. Most of the department's courses are taught in English, and courses are offered at all levels. In the classroom, the students meet high quality researchers who convey updated academic and research material. The department integrates the use of relevant tools in their teaching and has in 2015 strengthened the academic community further by hiring Espen Henriksen and Samuli Knüpfer.

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The Department of Finance’s research is published in leading international journals, covering all areas of finance. The department is ranked number nine in Europe and number two in the Nordic countries during the period 2005-2015, based on publications in top journals (U of Texas Dallas rankings).

Publications accepted in Financial Times journals in 2015:

  • Paul Ehling; Christian Heyerdahl-Larsen. Correlations. Forthcoming in Management Science.
  • Charlotte Ostergaard; Ibolya Schindele; Bent Vale. Social Capital and the Viability of Nonprofit Firms: Evidence from Norwegian Savings Banks. Forthcoming in Review of Finance.
  • Cooper, Ilan Cooper; Priestley, Richard. The Expected Returns and Valuations of Private and Public Firms. Forthcoming in Journal of Financial Economics.
  • Juan-Pedro Gomez; Richard Priestley; Fernando Zapatero. Labor Income, Relative Wealth Concerns, and the Cross-Section of Stock Returns. Forthcoming in Journal of Financial and Quantitative Analysis
  • Mark Grinblatt, Seppo Ikäheimo, Matti Keloharju and Samuli Knüpfer. IQ and Mutual Fund Choice. Forthcoming in Management Science.
  • Markku Kaustia, Samuli Knüpfer and Sami Torstila. Stock Ownership and Political Behavior: Evidence from Demutualizations. Forthcoming in Management Science.
  • Esther Eiling and Bruno Gerard. Emerging equity market comovements: trends and macroeconomic fundamentals. Review of Finance. Volume 19(4), p. 1543-1585.
  • Øyvind Norli; Charlotte Ostergaard; Ibolya Schindele. Liquidity and Shareholder Activism. Review of Financial Studies. Volume 28(2), p.486-520.
  • Bogdan Stacescu was in 2015 awarded FIBE Best paper award. Øyvind Norli was named the best teacher in the Executive MBA programme.

Every year the department organizes about 50 research seminars where renowned international scientists present their research. The department’s research is presented similarly at scientific conferences nationally and internationally and at research seminars at the invitation of other leading institutions.

Department of Finance and BI Norwegian Business School was in 2015 assigned responsibility for planning and implementing the world's second largest financial conference, the 43rd European Finance Association (EFA) conference. The conference will be held at BI campus Oslo in August 2016.

Faculty members Priestley, Bøhren and Henriksen have all contributed in DN to the debate on the management of the oil fund. This has led to significant changes in the reporting of the performance of the oil fund and the control function of Norges Bank.

Three research centres are linked to the Institute:

  • Center for corporate Governance research (Director: Øyvind Bøhren)
  • Center for Asset Pricing Research (Director: Paul Ehling)
  • Center for Applied Finance (Director: Richard Priestley)