25th Annual Conference of the
Multinational Finance Society
June 24-27, 2018, Budapest, Hungary


DATE: June 24-27, 2018
LOCATION: Budapest, Hungary


Jarrad Harford – Foster School of Business – University of Washington, USA
Kris Jacobs – C.T. Bauer College of Business – University of Houston, USA


Panayiotis Theodossiou – Cyprus University of Technology, Cyprus


The objective of the conference is to bring together academic researchers, educators, doctoral students and practitioners from various international institutions to focus on timely financial issues and research findings pertaining to industrialized and developing countries including the recent financial and economic crisis.


Papers in all areas of finance, accounting and economics dealing with developed and developing countries are welcome. Specific topics include, but are not limited to: Asset Pricing; Banking; Behavioral Finance; Buyouts; Capital Structure; CDS; Commodities; Contagion in Financial Markets; Corporate Governance; Corporate Restructuring; Cost of Bankruptcy; Credit Scoring Models; Cross Listing; Derivatives; Emerging Markets; Entrepreneurial and Start-up Financing; Executive Compensation; Financial Accounting; Financial Analysts; Financial Reporting; FinTech; FX Arbitrage; Investment Banking; IPOs; M&As; Macro Finance; Market Efficiency; Market Microstructure; Payout Policy; Portfolio Management; Real Options; Regulation; Risk Measurement; Scale-up Financing; Shipping Finance; Term Structure of Interest Rates; Trading Behavior; Valuation; and Volatility.


The Multinational Finance Society is offering special tutorial lectures for advanced finance doctoral students working on their dissertations. Following the lectures participating students will have the opportunity to discuss their research with our feature speakers and other senior members. Financial support will be provided to a limited number of registered doctoral students not sponsored by their institutions.


Please visit our website at to submit a copy of a completed or nearly completed paper or a detailed dissertation proposal (PDF format) by January 15, 2018.

The cover page should include the affiliation, address, phone and email of each author. Each participant agrees to serve as a discussant of a paper of his/her own area of interest, if needed.

Please include of whether you would like your paper to be considered for any of the awards mentioned below. Only completed papers qualify for any of the awards.


Best Paper Award (prize 1,000 USD)
(Open to all papers presented at the conference)

Ben Graham Center for Value Investing Award (prize 1,000 CAD)
(For best paper in areas related to value investing such as asset pricing, market anomalies and behavioral finance)

The Ben Graham Center of Value Investing, one of two similar centers in the world, was established in 2006 with a mission to teach, research, apply and promote the style of investing referred to as Value Investing. The center delivers on its mission by developing courses, carrying out research on topics related to value investing and spreads the word via conferences, seminars, symposiums, stock picking competitions and so on. Consistent with its mission to promote research on value investing the Center sponsors the Ben Graham Center for Value Investing Award for the best paper in areas related to Value investing, such as Market Anomalies, Behavioral Finance and Asset Pricing Models that test the pricing or not of discovered anomalies.

Best Doctoral Paper Award (prize 500 USD)
(Open to all thesis papers presented at the conference)

Past Winners


Registrations fee by March 1, 2018 is €425 and by April 3, 2018 is €530. Registration fee after April 3, 2018is 20% extra. For doctoral students, a discount of €120 applies. Registered participants can attend all social functions, which include Sunday’s tour of the city, gala dinner, reception, two lunches and coffee breaks during the conference.

Papers registered after April 3 cannot be considered for the awards.


Information regarding the conference, accommodations, feature speakers, travel arrangements, fees and other activities will be published on the MFS website as needed. Information about past conference can be found on the website as well.


Alkotas utca 63-67
1123, Budapest, Hungary


Nihat Aktas – WHU – Otto Beisheim School of Management, Germany
Ashiq Ali – University of Texas at Dallas, USA
Andreas Andrikopoulos – University of the Aegean, Greece
George Athanassakos – University of Western Ontario, Canada
Balasingham Balachandran – La Trobe University, Australia
Wolfgang Bessler – Justus-Liebig University Giessen, Germany
George Blazenko – Simon Fraser University, Canada
Laurence Booth – University of Toronto, Canada
Scott Brown – University of Puerto Rico, USA
Christian Bucio – Universidad Autónoma del Estado de México, Mexico
Martin Bugeja – University of Technology Sydney, Australia
Hans Byström – Lund University, Sweden
Jeffrey Lawrence Callen – University of Toronto, Canada
Jean-Marie Cardebat – University of Bordeaux, France
Chun-Hao Chang – Florida International University, USA
Chao Chen – Fudan University, China
Pornchai Chunhachinda – Thammasat University, Thailand
Ephraim Clark – Middlesex University Business School, UK
George Constantinides – University of Chicago, USA
James Cummings – Macquarie University, Australia
Serge Darolles – Université Paris-Dauphine, France
Chanaka Edirisinghe – Rensselaer Polytechnic Institute, USA
Elyas Elyasiani – Temple University, USA
Walter Farkas – University of Zurich, Switzerland
Bill Francis – Rensselaer Polytechnic Institute, USA
Anthony Yanxiang Gu – State University of New York, USA
Zhaoyang Gu – Chinese University of Hong Kong, Hong Kong
John Hall – University of Pretoria, South Africa
Terrence Hallahan – Victoria University, Australia
Gikas Hardouvelis – University of Piraeus, Greece
Soosung Hwang – Sungkyunkwan University, Korea
Can Inci – Bryant University, USA
Hideki Iwaki – Kyoto Sangyo University, Japan
Petko Kalev – La Trobe University, Australia
Kiridaran Kanagaretnam – York University, Canada
Olga Kandinskaia – CIIM, Cyprus
Mehmet Karan – Hacettepe University, Turkey
Johan Knif – Hanken School of Economics, Finland
Robert Korajczyk – Northwestern University, USA
Yoram Kroll – Ono Academic College (OAC), Israel
Lawrence Kryzanowski – Concordia University, Canada
Van Son Lai – Laval University, Canada
Woon Leung – Cardiff Universit, UK
Yueh-Neng Lin – National Chung Hsing University, Taiwan
Christodoulos Louca – Cyprus University of Technology, Cyprus
Tim Loughran – Notre Dame, USA
Radu Lupu – Bucharest University of Economic Studies, Romania
Didier Maillard – CNAM, France
Anastasios Malliaris – Loyola University Chicago, USA
Minna Martikainen – Hanken School of Economics, Finland
Robert Mathieu – Wilfrid Laurier University, Canada
William Megginson – University of Oklahoma, USA
Roni Michaely – Cornell University, USA
David Michayluk – University of Technology Sydney, Australia
Nikolaos T. Milonas – University of Athens, Greece
Usha Mittoo – University of Manitoba, Canada
Imad Moosa – RMIT University, Australia
Louis Murray – University College Dublin, Ireland
Silvia Muzzioli – University of Modena and Reggio Emilia, Italy
Nandkumar Nayar – Lehigh University, USA
Christos Negakis – University of Macedonia, Greece
Andreas Oehler – Bamberg University, Germany
Steven Ongena – University of Zurich & Swiss Finance Institute, Switzerland
Edgar Ortiz – Universidad Nacional Autonoma de Mexico, Mexico
Andrzej Palczewski – University of Warsaw, Poland
Dan Palmon – The State University of New Jersey, Rutgers
Stylianos Perrakis – Concordia University, Canada
Dionisis Philippas – ESSCA Grand Ecole de Management, France
Nikolaos Philippas – University of Piraeus, Greece
Sunil Poshakwale – Cranfield University, UK
Leszek Preisner – AGH, Poland
Agnieszka Pres-Perepeczo – The University of Szczecin, Poland
Timothy Riddiough – University of Wisconsin, USA
Gordon Roberts – York University, Canada
Patrick Roger – University of Strasbourg, France
Wendy Rotenberg – University of Toronto, Canada
Ghulame Rubbaniy – Zayed University, United Arab Emirates
Richard Saito – Fundacao Getulio Vargas, Brazil
Peter Scholz – Hamburg School of Business Administration, Germany
Sanjay Sehgal – University of Delhi, India
Yoko Shirasu – Aoyama Gakuin University, Japan
Ajai Singh – University of Central Florida, USA
Frank Skinner – Brunel University, UK
Hui Sono – James Madison University, USA
Theodore Sougiannis – University of Illinois, USA
David Stolin – University of Toulouse, France
Raul Susmel – University of Houston, USA
Lorne Switzer – Concordia University, Canada
Malick Sy – RMIT University, Australia
Samuel Szewczyk – Drexel University, USA
OnKit Tam – RMIT University, Australia
Alireza Tourani-Rad – Auckland University of Technology, New Zealand
Dimitris Tsouknidis – Cyprus University of Technology, Cyprus
Sami Vähämaa – University of Vaasa, Finland
Mika Vaihekoski – University of Turku, Finland
Willem Verschoor – VU University Amsterdam, Netherlands
Uwe Walz – Goethe University of Frankfurt, Germany
Shuye Wang – Renmin University of China, China
Jason Wei – University of Toronto, Canada
Chaopeng Wu – Xiamen University, China
Yukihiro Yasuda – Hitotsubashi University, Japan
Yin-Hua Yeh – National Chiao Tung University, Taiwan
Yildiray Yildirim – Baruch College-CUNY, USA
Ania Zalewska – University of Bath, UK