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Member of CNRS-GREGHEC Research Group
Christophe Spaenjers is an Assistant Professor of Finance at HEC Paris. He earned his Ph.D. at Tilburg University. During his Ph.D., he also visited London Business School, Columbia Business School, and the International Center for Finance at Yale University.
His research interests include investments, investor behavior, household finance, corporate finance, and financial history.
He has published in journals such as the Journal of Financial Economics , American Economic Review (P&P), Management Science , and Oxford Economic Papers . Christophe Spaenjers teaches in the MBA programs.
"Organizational and Epistemic Change: The Growth of the Art Investment Field", Forthcoming, Accounting Organizations and Society, (in coll. with E. H. COSLOR).
"Subjective life horizon and portfolio choice", Journal of Economic Behavior and Organization, August 2015, vol. 116, pp. 94-106 (in coll. with S. M. SPIRA).
"The Economics of Aesthetics and Record Prices for Art since 1701 ", Explorations in Economic History, July 2015, vol. 57, pp. 79-94 (in coll. with W. GOETZMANN, E. MAMONOVA).
"The price of wine", Journal of Financial Economics, November 2015, vol. 118, n° 2, pp. 431-449 (in coll. with E. DIMSON, P. ROUSSSEAU).
"Investing in Emotional Assets", Financial Analysts Journal, March - April 2014, vol. 70, n° 2, pp. 20-25 (in coll. with E. DIMSON).
"Sentiment and Art Prices Records", Economics Letters, March 2014, vol. 122, n° 3, pp. 432-434 (in coll. with J. PENASSE, L. RENNEBOOG ).
"Buying Beauty: On Prices and Returns in the Art Market", Management Science, January 2013, vol. 59, n° 1, pp. 36-53 (in coll. with L. Renneboog).
"Hard assets: The returns on rare diamonds and gems", Finance Research Letters, December 2012, vol. 9, n° 4, pp. 220-230 (in coll. with L. Renneboog).
"Religion, economic attitudes, and household finance", Oxford Economic Papers, January 2012, vol. 64, n° 1, pp. 103-127 (in coll. with L. Renneboog).
"Art and Money", American Economic Review, May 2011, vol. 101, n° 3, pp. 222-226 (in coll. with W. Goetzmann, L. Renneboog).
"Ex post: The investment performance of collectible stamps", Journal of Financial Economics, May 2011, vol. 100, n° 2, pp. 443-458 (in coll. with E. Dimson).
"The Dutch Grey Market", De Economist, March 2011, vol. 159, n° 1, pp. 25-40 (in coll. with L. Renneboog).
"The iconic boom in modern Russian art", Journal of Alternative Investments, Winter 2011, vol. 13, n° 3, pp. 73-80 (in coll. with L. Renneboog).
Chapters in Edited Books
"Investment Returns and Economic Fundamentals in International Art Markets", in Cosmopolitan Canvases: The Globalization of Markets for Contemporary Art, O. Velthuis, S. Baia-Curioni (eds.), Oxford University Press, 2015, 129-146 (in coll. with L. RENNEBOOG).
"The investment performance of art and other collectibles", in Risk and Uncertainty in the Art World, A. Dempster (Ed.), Bloomsbury Publishing, 2014 (in coll. with E. DIMSON).
"Religion and finance", in Socially Responsible Finance and Investing, H. Kent Baker, J. Nofsinger (Eds), John Wiley & Sons, 2012 (in coll. with L. Renneboog).
"Real Estate as a Luxury Good: Non-Resident Demand and Property Prices in Paris", Cahier de Recherche du Groupe HEC, 2015 (in coll. with D. CVIJANOVIC).
"A Model of Trading in Unique Durable Assets", Cahier de Recherche du Groupe HEC, 2014 (in coll. with S. LOVO).
"The Economics of Aesthetics and Three Centuries of Art Price ", Cahier de Recherche du Groupe HEC, 2014 (in coll. with W. GOETZMANN, E. MAMONOVA).
"Organizational and Epistemic Change: The Growth of the Art Investment Field", Cahier de Recherche du Groupe HEC, 2013 (in coll. with E. COSLOR).
"Subjective Life Horizon and Portfolio Choice", Cahier de Recherche du Groupe HEC, 2013 (in coll. with S. M. SPIRA).
"The Price of Wine", Cahier de Recherche du Groupe HEC, 2013 (in coll. with E. DIMSON, P. ROUSSEAU).
Employment Date: 2011
Main courses taught at HEC
2011 Ph.D. in Finance, Tilburg University, The Netherlands.
2007 M.Phil. in Finance, Tilburg University, The Netherlands.
2004 M.Sc. in Business Economics, Ghent University, Belgium.
Academic responsibilities at HEC
2016- Associate Professor, Finance.
2011- Member, GREGHEC (CNRS).
2011-2016 Assistant Professor.
External academic responsibilities
2008-2010 Teaching, Tilburg University.
2004-2006 Research and teaching assistant in corporate Finance, Ghent University.
Reviewer, Economics Letters, European Financial Management, Financial History Review, International Journal of Finance and Economics, Journal of Cultural Economics, Journal of Economic Behavior & Organization, Journal of Socio-Eocnomics, Oxford Economic Papers, Quarterly Journal of Economics, Review of Finance.
Co-organizer, Art, Mind and Markets - Yale School of Management.
Member, Conference program committee, European Finance Association.
Coordinator, Finance Brown Bag seminars, HEC Paris.
Co-organizer, Art markets workshop.
Seminar coordinator, Finance Brown Bag seminars.
Awards & Honors
2015 Fondation Banque de France "Young Researcher in Economics" 2015 Prize .
2013 American Association of Wine Economists Prize for the Best Conference Presentation.
2010 AFA 2010 Annual Meeting Travel Award.