Prof. Dr. habil. Maria Kasch

Gastprofessur für Behavioral Finance

Wirtschaftswissenschaftliche Fakultät
Humboldt University of Berlin
Dorotheenstr. 1
10117 Berlin

maria.kasch [at]

Research Interests

Empirical Asset Pricing

Sources of Volatility

Market Frictions

Trading and Price Dynamics



Behavioral Finance and Asset Pricing, HU Berlin, Spring 2017

Advanced Financial Economics: Asset Pricing (PhD level), HU Berlin, Spring 2016

Market Frictions and Asset Pricing

Investments I FIN 500

Introduction to Investment Analysis FIN 356


Academic Visits 

Stern School of Business, NYU, Department of Finance

Federal Reserve Bank of New York 

University of Texas at Austin, Department of Finance


Selected Working Papers

Opens external link in new windowSystematic Risk and Share Turnover 

Finalist for the Best Paper Award, FMA European Conference 2016; Humboldt/ESMT Finance-Accounting Research Seminar 2016; Paris December Finance Meeting 2016

Is There an S&P 500 Index Effect? with Asani Sarkar

Federal Reserve Bank of New York Staff Report no. 484; Portuguese Finance Network 2014; FIRS 2013; 1st Luxembourg Asset Management Summit 2012; 9th European Winter Finance Summit (Skinance) 2013; DGF 2013; University of Mannheim; University of Texas at Austin; University of Rotterdam; Federal Reserve Bank of New York 

Market Crashes, with Jose Gonzalo Rangel and Moritz Weigand

Central Bank Workshop on the Microstructure of Financial Markets 2011, DGF 2011, FMA 2011, European Meeting FMA 2010,  University of Mannheim


Published Papers

Volatility Threshold Dynamic Conditional Correlations: An International Analysis, with Massimiliano Caporin, 2013, Journal of Financial Econometrics 11 (4), 706-742

A Closer Look at Comovements Among Stock Returns, with Allan Zebedee, 2009, Journal of Economics and Business 61, 279-294

Competition between Exchanges: Euronext versus Xetra, with Erik Theissen, 2008, European Financial Management 15, 181-207.

Volatility in the Transition Market of Central Europe,  with Simon Price, Applied Financial Economics 11, 93 - 105.


Recent Discussions

Kil A. Y., Capital Heterogeneity, Volatility Shock, and the Value Premium, Paris December Finance Meeting 2016

Liu H. and L. Peng, Investor Attention: Seasonal Patterns and Endogenous Allocations, FMA European Conference 2016 

Peress J. and D. Schmidt, Glued to the TV: The Trading Activity of Distracted Investors, European Finance Association 2015

Keloharju M., Linnainmaa J.T., and P. Nyberg, Common Factors in Return Seasonalities, European Finance Association 2014


Industry Experince

ING Barings, Emerging Markets Research, London

Allianz Asset Management, Passive Portfolio Management, Munich