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Lisa A. Kramer

Lisa Kramer

    Lisa A. Kramer

    Professor of Finance, Department of Management, University of Toronto Mississauga
    Research Fellow, Behavioural Economics in Action at Rotman (BEAR) , University of Toronto

    Degrees: PhD, University of British Columbia
    BBA (Hons.), Simon Fraser University
    Email: Send an email to Lisa A. Kramer

    Bio

    Lisa Kramer is a Professor in the Department of Management at the University of Toronto Mississauga, with a cross-appointment in the Finance area at the Rotman School of Management and in the University of Toronto Department of Economics. She conducts interdisciplinary work in the field of behavioural finance, blending psychology and economics to study markets and financial decision making. She also has interests in neuroeconomics, investments, market seasonality, human decisions, mood, and emotions. Her research has appeared in economics, finance, and psychology journals, including the American Economic Review. Her studies have been extensively profiled by the popular press, including The Wall Street Journal, US News and World Reports, The Washington Post, Bloomberg Business, Business Week, and Time.

       

    Academic Positions

    2016-present  Visiting Scholar; Rady School of Management, University of California San Diego
    2016-present  Research Fellow; Behavioural Economics in Action at Rotman (BEAR), University of Toronto
    2015-present  Professor of Finance; University of Toronto
    2009-2010  Visiting Scholar; Stanford University, Psychology Department
    2008-2011  Canadian Securities Institute Research Foundation Term Professor
    2007-2015  Associate Professor; University of Toronto
    2001-2007  Assistant Professor; University of Toronto

    Selected Publications - Papers

    • Seasonal Asset Allocation: Evidence from Mutual Fund Flows; with M. Kamstra, M. Levi, and R. Wermers; Journal of Financial and Quantitative Analysis; Issue: 52(1); 2017; Pages: 71-109
    • The Spillover Effects of Management Overconfidence on analyst forecasts; with C. Liao; Journal of Behavioral and Experimental Finance; Issue: 12; 2016; Pages: 79-92
    • Seasonal Variation in Treasury Returns; with M. Kamstra and M. Levi; Critical Finance Review; Issue: 4(1); 2015; Pages: 45-115
    • Seasonally Varying Preferences: Theoretical Foundations for an Empirical Regularity; with M. Kamstra, M. Levi, and T. Wang; Review of Asset Pricing Studies; Issue: 4(1); 2014; Pages: 39-77
    • This is Your Portfolio on Winter: Seasonal Affective Disorder and Risk Aversion in Financial Decision Making; with J.M. Weber; Social Psychological and Personality Science; Issue: 3(2); 2012; Pages: 193-199
    • A Careful Re-Examination of Seasonality in International Stock Markets: Comment on Sentiment and Stock Returns; with M. Kamstra and M. Levi; Journal of Banking and Finance; Issue: 36; 2012; Pages: 934-956
    • Estimating the Equity Premium; with M. Kamstra and R.G. Donaldson; Journal of Financial and Quantitative Analysis; Issue: 45(4); 2010; Pages: 813-846
    • Effects of Daylight-Saving Time Changes on Stock Market Volatility: a Comment; with M. Kamstra and M. Levi; Psychological Reports; Issue: 107(3); 2010; Pages: 877-887
    • Is It the Weather? Comment; with M. Kamstra and M. Levi; Journal of Banking and Finance; Issue: 33(3); 2009; Pages: 578-582
    • Winter Blues and Time Variation in the Price of Risk; with I. Garrett and M. Kamstra; Journal of Empirical Finance; Issue: 12(2); 2005; Pages: 291-316
    • Winter Blues: A SAD Stock Market Cycle; with M. Kamstra and M. Levi; American Economic Review; Issue: 93(1); 2003; Pages: 324-343
    • Losing Sleep at the Market: The Daylight Saving Anomaly: Reply; with M. Kamstra and M. Levi; American Economic Review; Issue: 92(4); 2002; Pages: 1257-1263
    • Losing Sleep at the Market: The Daylight Saving Anomaly; with M. Kamstra and M. Levi; American Economic Review; Issue: 90(4); 2000; Pages: 1005-1011

    Academic / Professional Service

    2015-present  Advisor; Justwealth Financial
    2012-2016  Board of Directors; Northern Finance Association (President 2014-2015, Past President 2015-2016)

    Honors and Awards

    2014-present  SSHRC Insight Grant (Co-Investigator)
    2013-present  SSHRC Insight Grant
    2011-2014  SSHRC Insight Development Grant
    2010-2014  SSHRC Standard Research Grant
    2010-2014  SSHRC Standard Research Grant (Co-Investigator)
    2008-2011  Canadian Securities Institute Research Foundation Limited Term Professor
    2007-2010  SSHRC Standard Research Grant (Co-Investigator)
    2006-2009  Connaught Matching Grant
    2006-2009  SSHRC Standard Research Grant
    2003-2007  SSHRC Standard Research Grant
    2001-2002  Connaught Start-Up Grant

    Professional Affiliations/Memberships

    American Finance Association
    Western Finance Association
    European Finance Association
    Northern Finance Association
    Society for Neuroeconomics

    Research and Teaching Interests

    Teaches undergraduate courses in investments and graduate courses in behavioral finance. Research interests include behavioural finance, investments, neuroeconomics, household finance, experiments.  

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