Behavioural finance is a topic that has gained considerable attention in recent years. It studies human behaviour in financial markets. As such, it is a truly interdisciplinary field at the cross section of finance, psychology, economics and sociology.
The Behavioural Finance Working Group (BFWG) was established in January 2008. It is led by Professor Gulnur Muradoglu at the School of Business and Management, Queen Mary, University of London.
BFWG exists to perform world leading research in Behavioural Finance. It brings together practitioners with internationally respected academics in finance, psychology, sociology and economics through discussion groups, workshops and conferences. We also provide specialist consultancy on financial decision making processes to financial services industry and regulatory agencies. We have sponsors from industry, we organise conferences with practitioner talks and dedicated PhD sessions as well as regular sessions where academic papers are presented. This makes us an ideal hub for research students in Behavioural Finance.
The group aims to:
Contact us at firstname.lastname@example.org
BFWG has more than six hundred members from all over the world including academics in Finance, Psychology, Sociology, Economics and Accounting, PhD students, and Practitioners.
How to become a member?
If you would like more information on the group or would like to join the BFWG please send your CV by email to email@example.com along with the following with the following information:
Upon receipt of your email your request will be evaluated and you will be contacted by a member of staff.
Current members include:
Queen Mary University of London
Can Behavioural Finance inform Volatility Modeling/Forecasting?
Dates: 6-7 June 2019
Location: Queen Mary University of London, Graduate Centre, 327 Mile End Road, London E1 4NS
Keynote Speaker: Richard Sias (University of Arizona)
Practitioner Keynote: Emily Haisley (Blackrock)
Organisers: Gulnur Muradoglu (Queen Mary, University of London, UK), Vasileios Kallinterakis (University of Liverpool, UK) and Dimos Kambouroudis (Stirling University, UK
Conference fee: Early bird registration fee £200 before 29 March 2019, standard registration fee £300 after 30 March- 7 June 2019. Register here
Submission: To submit a paper or extended abstract for consideration complete the following online form and submit your final call for papers (ONCE SUBMITTED NO AMENDMENTS OR ALTERATIONS CAN BE MADE TO THE TITLE OR CONTENT) here
Call for Papers: Call for papers BFWG 2019 updated [DOC 67KB]
In this two-day meeting jointly organized by the Behavioural Finance Working Group (BFWG) and Queen Mary, University of London, UK, we will consider how the fields of behavioural finance, economic psychology, financial socio-analysis and other related areas can enhance our understanding of financial behaviours. Papers exploring any Behavioural Finance issue will be considered, but those related to the contributions of behavioural finance (e.g. via sentiment, over/under reaction, specific biases/heuristics etc) to informing the modelling and forecasting of volatility in various asset classes (e.g. equities, fixed-income, derivatives, exchange-traded funds and currencies, to mention but a few) will be particularly welcome.
As usual, we will consider papers in all areas of common concern to those working in behavioural finance and related areas. These include processes underlying the financial judgments and decisions involved in investing, trading, forecasting, risk assessment, asset valuations, acquisitions, IPOs, asset pricing bubbles, financial crises, and other financial behaviours. As well as such associated cognitive phenomena as overconfidence, framing, loss aversion, herding, optimism, biased information search, and the money illusion, we are equally interested in drawing on emotional and psychodynamic perspectives, group psychology, personality theory including narcissism and psychopathology, and narratology in the context of the role story telling plays in all financial activity. We seek contributions relating to these issues at the level of markets and institutions of various types, households, corporations, boards and other financially active groups, individual and institutional investors and traders.
We will also have:
Special Issue: Accepted papers will be considered for a special issue of the Review of Behavioural Finance which will publish a selection of research presented at the conference. Further information about the submission process will be shared during the conference and emailed to the participants.
Special issue journal website:
Review of Behavioural Finance: http://www.emeraldinsight.com/loi/rbf
Best Paper Awards: Two best paper awards will be given for the papers presented at the conference. Review of Behavioural Finance will give a Best Quantitative Paper Award and the Qualitative Research in Financial Markets will give a Best Qualitative Paper award.
Deadline: We invite you to submit extended abstracts, papers-in-progress or full papers by the deadline of February 1st, 2019.
The organizers will come back with a decision within three weeks after this deadline.
To submit a paper or extended abstract for consideration complete the following online form and submit your final call for papers (ONCE SUBMITTED NO AMENDMENTS OR ALTERATIONS CAN BE MADE TO THE TITLE OR CONTENT) here
Any issues with submitting your paper, please email a PDF version of the manuscript to: firstname.lastname@example.org.
BFWG 2019 Conference Sessions
Thursday 6 June 2019
|Timings||Session A||Session B||Session C|
Session 1A: Herding and Feedback Trading
Session 1B: Behavioural Decision Making
Session 2A: Behavioral Corporate Finance
Session 2B: Fund Management
Session 2C: Behavioural Corporate Finance
Session 3A: Forecasting Behaviour
Session 3B: Behavioural Anomalies
Session 4C: Behavioural Biases
Friday 7 June 2019
|Timings||Session A||Session B||Session C||Session D|
Session 5A: Behavioral Corporate Finance
Session 5B Emotions and Gender
Session 5C Behavioural Corporate Finance
Session 5D Biases and Decision Making
Session 6A: Behavioural Asset Pricing
Session 6C: Sentiment
Session 6D: Behavioural Corporate Finance
Session 7A: Behavioural Corporate Finance
Session 7B: Behavioural Strategies
Session 7C: Financial Behaviour
2018 Conference - Behavioural finance in advanced and emerging markets
Organised and chaired by Professor Ali M. Kutan (Southern Illinois University Edwardsville, USA) and Professor Gulnur Muradoglu, Queen Mary University of London.
2017 Conference - Sentiment and mood finance
Organised and chaired by Professor Darren Duxbury, Newcastle University Business School and Professor Gulnur Muradoglu, Queen Mary University of London.
2016 Conference - Financial regulation and the politics of finance
Organised and chaired by Dr Kim Kaivanto, Lancaster University, and Professor Gulnur Muradoglu, Queen Mary University of London.
2015 Conference - Financial regulation in response to the financial crisis: seven years on
Organised and chaired by Professor William Forbes, Loughborough University, Professor Joanna Gray, Newcastle University, and Professor Gulnur Muradoglu, Queen Mary University of London.
2014 Conference - Emotions in finance
Organised and chaired by Professor Richard Taffler, Edinburgh University, and Professor Gulnur Muradoglu, Queen Mary University of London.
2013 Conference - How the poor manage their finances
Organised and chaired by Professor Peter Ayton, School of Psychology, City University London, and Professor Gulnur Muradoglu, Queen Mary University of London.
2012 Conference - Behavioural corporate finance
Organised and chaired by Professor Scott Moeller, Cass Business School, and Professor Gulnur Muradoglu, Cass Business School.
2011 Conference - Behavioural finance and economic psychology: Recent developments
Organised and chaired by Professor Nigel Harvey, University College London Psychology Department and Professor Gulnur Muradoglu, Cass Business School.
2010 Conference - Fairness, trust and emotions in finance
Organised and chaired by Dr Richard Fairchild, School of Management, University of Bath and Professor Gulnur Muradoglu, Cass Business School.
Conference programme [.docx]
2009 Conference - Behavioural perspectives on the financial crisis
Organised and Chaired by Professor William Forbes, Loughborough University and Professor Gulnur Muradoglu Cass Business School.
2009 - Behavioural Finance Working Group First Meeting
Organised by Professor Gulnur Muradoglu, Cass Business School.
There are currently no seminars confirmed.
Monday 8 July 2013
Seminar title - Incorporation in Offshore Financial Centers: Naughty or Nice?
Speaker - Professor Warren Bailey, Cornell University
Location - School of Business and Management, Mile End Campus, Queen Mary University of London, E1 4NS
Warren Bailey, born and raised in Brooklyn, is a Professor of Finance at the Samuel Curtis Johnson Graduate School of Management of Cornell University. Professor Bailey's interests include international finance, international securities markets, and investments. He has a special interest in emerging capital markets, particularly in Asia. He has published widely in all top finance journals. He has been featured and quoted extensively in the financial and mainstream press, including The New York Times, The Economist, and The Far Eastern Economic Review, and television interviews on CNN-FN and CNBC. He is an associate editor of The Journal of Financial and Quantitative Analysis and The Pacific Basin Finance Journal and the co-editor of Journal of Financial Services Research. He received the Class of 1992 Award for Teaching Excellence and the Stephen Russell Distinguished Teaching Award in 1999
Incorporation in Offshore Financial Centers: Naughty or Nice? by Warren Bailey and Edith X. Liu (both Cornell University)
We study associations between measures of firm value and quality and the firm’s choice of legal and regulatory environment though incorporation in an offshore financial center. Preliminary empirical results suggest that incorporation in such a jurisdiction, or switching incorporation to one, is associated with lower value as measured by Tobin’s q and poor corporate governance as measured by higher insider holdings. These effects vary with the quality of the firm’s home country environment and the offshore domicile it selects.
Monday 21 June 2013
Seminar title - How do we reverse the current economic malaise?
Speaker - Professor Werner F.M. De Bondt, Driehaus Center for Behavioral Finance, DePaul University in Chicago
Location - School of Business and Management, Mile End Campus, Queen Mary University of London, E1 4NS
Werner F.M. De Bondt is director of the Richard H. Driehaus Center for Behavioral Finance at DePaul University in Chicago. He is also the Driehaus Professor of Behavioral Finance. De Bondt is an economist who studies the psychology of financial decision-making. He is one of the founders of behavioral finance.. De Bondt’s research articles have appeared in many books and scholarly journals, including the Journal of Finance, the Financial Analysts Journal, the American Economic Review, and the European Economic Review. His work on stock market overreaction and the speculative dynamics of world financial markets has received a great deal of attention. Werner De Bondt is a frequent speaker to academics and investment professionals around the world. He holds a Ph.D. in Business Administration from Cornell University (1985). In past years, he was a member of the faculty at various universities in Europe, e.g., the KU Leuven (Belgium) and the University of Zurich (Switzerland). Between 1992 and 2003, he was the Frank Graner Professor of Investment Management at the University of Wisconsin-Madison.
“We failed as regulators, we failed as supervisors, we failed as corporate governance managers, we failed as risk managers, and we also failed in the allocation of roles and responsibilities for international economic organisations.”Angel Gurria, Secretary General, OECD
The world is out of kilter. Confusion and disorder reign at all levels: economic, social, political, and moral. The crisis that started in 2007, preceded by many years of economic stagnation in the industrialized nations, has revealed the fragility of our market-based society. In the United States, Europe, and Japan, anger about the past and anxiety about the future is widespread. Many people are in pain, yet also feel powerless. Today’s capitalism, they believe, is inherently unstable, inefficient, unfair, and corrupt. A more responsible capitalism is sorely needed. Democracy has to be strengthened. Trust in business corporations, financial institutions, and government has to be restored. In order to realize this utopian vision, the world needs authentic thought leadership and the moral regeneration of its power elite.