Behavioural Finance in the age of Big Data

The HEC Paris UK office is delighted to invite you to a Masterclass with Professor Augustin Landier, professor at HEC Paris, PhD graduate from ENS and MIT, and Best Young Economis of France 2014

During the masterclass, Prof. Landier will draw from his latest research to explain how the use of big data is profoundly changing the investment industry and giving new material for practitioners eager to predict future performance,

and academics keen on understanding market participants’ behaviour. Here are a few examples:

Valuation – To estimate the fundamental value of companies, models can now make use of data such as Glassdoor or Linkedin which can help evaluate the organizational capital of a company, its ability to attract and retain talent etc.

Behavioral Finance – Investor sentiment and dispersion in beliefs can be directly evaluated using social media or survey data. Such measures can be useful in predicting risk and returns.

Forensic finance – The existence of fraud can be assessed by combining large market data with statistical analysis in a manner that is much more extensive than in the past

Impact investing and ESG – access to new data is reviving the possibility to invest in companies that reflect values that investors might ant to express in their portfolio.

Prof. Landier explains: “The proliferation of new datasets has drastically important implications for the financial industry: Whether you are an asset manager, a prime-broker or a regulator, Big data is raising new critical questions and

opportunities for new business models. ”

Agenda:

8 am – 8:30 am: Welcome & breakfast

8:30 – 9:00 am: Augustin Landier’s Keynote

9:00 – 9:30 am: Panel discussion with industry experts

9:30 – 10 am: Q&A and Networking

About Prof. Augustin Landier

Augustin Landier is professor of finance at HEC. Prior to that, he was professor at the Toulouse School of Economics. He has taught finance at New York University (2004-2009), at the University of Chicago (2002-2004), and was a
Resident Scholar at the International Monetary Fund (2009). He has been a visiting professor at Harvard Business School (2016) and Princeton (2013). He completed his PhD in Economics at the Massachusetts Institute of Technology
in 2002, and graduated from Ecole Normale Superieure in Paris in 1998.

His research is largely focused on behavioral finance, asset management, banking and corporate finance. It has been published in lead scientific Journals such as the Journal of Finance, the Quarterly Journal of Economics or the Review
of Economic Studies. He was awarded the 2014 “best french young economist” award. He is also active in the public policy debate, was a member of the French Council of Economic Analysis (2010-1012 and 2014-2016) and has published
several books, among which « Investing for Change » (Oxford Press 2009).

Latest Research:

Brokers and Order Flow Leakage: Evidence from Fire Sales (with A. Barbon, M. Di Maggio and F. Franzoni) Forthcoming, Journal of Finance

Sticky Expectations and Stock Market Anomalies (with J-P. Bouchaud, P. Krueger and Thesmar D.) Forthcoming, Journal of Finance

New Experimental Evidence on Expectations Formation (with Y. Ma and D. Thesmar)