About me
I am an Assistant Professor of Finance at the Terry College of Business at the University of Georgia. My primary fields of research are mutual funds and market microstructure. I am interested in securities lending, short selling, and mutual fund investments, with a focus on information transmission in the financial markets.
Research interests
Market microstructure, asset management, investment funds, information in financial markets
Education (full CV)
PhD in Finance, HEC Paris, Supervisor: Thierry Foucault (2014–2020)
Visiting scholar at UC Berkeley (February–May 2018)
MSc Economics (Analysis and Policy in Economics), Paris School of Economics-EHESS (2014)
BSc Accounting and Finance, London School of Economics and Political Science (2012)
Publications
Learning from Noise? Price and Liquidity Spillovers around Mutual Fund Fire Sales (with Daniel Schmidt, The Review of Asset Pricing Studies, Volume 12, Issue 2, June 2022, Pages 593–637)
Securities Lending and Trading by Active and Passive Funds (job market paper, Forthcoming: Journal of Financial and Quantitative Analysis)
ETF Dividend Cycles Predict Money Market Fund Flows and Treasury Yield Changes (with Yapei Zhang and Tony Zhou, Forthcoming: Critical Finance Review)
Working papers
Passive Ownership and Short Selling (joint with Bastian von Beschwitz and Daniel Schmidt, R&R Review of Finance)
Intermediation and Friction in Equity Swap Markets
Strategic Allocation of Securities Lending Profits
Index Crowding by Replication Funds
Media
Contact information:
Email: pekka.honkanen@uga.edu
University of Georgia – Terry College of Business
620 South Lumpkin Street
30602 Athens, GA, USA