Author's profile

Alessandro Beber
Cass Business School

Background

Professor in Finance, Faculty of Finance.

Prior to joining Cass, Alessandro held teaching and research positions at several universities, including Amsterdam Business School, HEC Lausanne, the Wharton School of the University of Pennsylvania, Columbia University GSB, and the London Business School. Professor Beber conducts empirical and theoretical research in Finance. His current work focuses on liquidity and asset pricing, risk management, currency and fixed income markets, and financial econometrics. His research has appeared in leading academic journals, including the Journal of Financial Economics, the Review of Financial Studies, the Journal of Monetary Economics and the Review of Finance. Alessandro is also a Research Affiliate of the Center for Economic Policy Research (CEPR). Alessandro won the prize for the best symposium paper at the European Finance Association Conference in 2003 for his research on macroeconomic news and investor preferences and beliefs, the Goldman Sachs Asset Management Award for the best paper published in the Review of Finance in 2009, and various teaching awards at the University of Lausanne and at the Amsterdam Business School.

Author articles

  • Differences in beliefs and currency risk premia
    Finance
    Asset Management

    Standard asset pricing theories have difficulty explaining episodes that are not simply linked to fundamentals. Notable examples in the dynamics of capital markets are the equity premium puzzle or the excess volatility puzzle.

    These puzzles have motivated an increasingly large literature over the last couple of decades that explores the general equilibrium implications of uncertainty for asset prices.This paper studies the importance of heterogeneous beliefs for the dynamics of asset prices.

    14/01/2013 | 2,750
  • Corporate speculation and CEO characteristics
    Finance
    Banking

    Managers are acknowledged to have their own style when taking corporate decisions. Personal characteristics of CEOs are empirically important determinants of a large range of corporate variables. However, there are still a number of unexplored research questions. One of these is to what extent the corporate risk management policies of non-financial firms departs from textbook hedging.

    In this paper, Cass researchers study to what extent CEO personal beliefs and individual characteristics explain the time-series variation of foreign currency derivatives beyond industry, firm, and market fundamentals.

    14/01/2013 | 3,019
  • What does equity sector orderflow tell us about the economy?
    Finance, Investment and Risk Management
    Asset Management, Banking

    Investors rebalance their portfolios as their views about expected returns and risk change.

    In this study empirical measures of portfolio rebalancing were used to back out investors' views, specifically their views about the state of the economy.

    Contrary to many theories of price formation, did trading activity therefore contain information that that is not entirely revealed by resulting relative price changes?

    14/01/2013 | 3,065
  • Short-Selling Bans around the World: Evidence from the 2007-09 Crisis
    Finance
    Asset Management

    Most regulators around the world reacted to the 2007-09 crisis by imposing bans or constraints on short-selling. These were imposed and lifted at different dates in different countries, often applied to different sets of stocks and featured varying degrees of stringency. This 2011 article by Professor Alessandro Beber explores the ban on short-selling to identify their effects on liquidity, price discovery and stock prices.

    14/01/2013 | 3,146