Skip to main content
About HEC About HEC Faculty & Research Faculty & Research Master’s programs Master’s programs MBA Programs MBA Programs PhD Program PhD Program Executive Education Executive Education Summer School Summer School HEC Online HEC Online About HEC Overview Overview Who
We Are Who
We Are
Egalité des chances Egalité des chances HEC Talents HEC Talents International International Campus
Life Campus
Life
Sustainability Sustainability Diversity
& Inclusion Diversity
& Inclusion
Stories Stories The HEC
Foundation The HEC
Foundation
Coronavirus Coronavirus
Faculty & Research Overview Overview Faculty Directory Faculty Directory Departments Departments Centers Centers Chairs Chairs Knowledge Knowledge Master’s programs Master in
Management Master in
Management
Master in
International Finance Master in
International Finance
Specialized
Masters Specialized
Masters
Ecole Polytechnique
-HEC programs Ecole Polytechnique
-HEC programs
Dual-Degree
programs Dual-Degree
programs
Visiting
students Visiting
students
Certificates Certificates Student
Life Student
Life
MBA Programs MBA MBA Executive MBA Executive MBA TRIUM EMBA TRIUM EMBA PhD Program Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Masters Executive Masters Executive Certificates Executive Certificates Executive short programs Executive short programs Online Online Companies Companies Executive MBA Executive MBA Infinity Pass Infinity Pass Summer School Youth Programs Youth Programs Summer programs Summer programs HEC Online Overview Overview Degree Program Degree Program Executive certificates Executive certificates MOOCs MOOCs Summer Programs Summer Programs

Biography

Daniel Schmidt is Associate Professor of Finance at HEC Paris, where he teaches Financial Economics and Advanced Finance in the "Grande Ecole" programme. He earned his Ph.D. in Finance at INSEAD (France). His research interests concern information dissemination in financial markets, limited attention, market liquidity, short selling, and behavioral finance.

 

Scientific articles

Fundamental Arbitrage under the Microscope: Evidence from Detailed Hedge Fund Transaction Data

Review of Asset Pricing Studies, March 2022, vol. 12, n° 1, pp 199-242, (in coll. with B. von Beschwitz, S. Lunghi)

Learning from Noise? Price and Liquidity Spillovers around Mutual Fund Fire Sales

Review of Asset Pricing Studies, June 2022, vol. 12, n° 2, pp 593-637, (in coll. with P. Honkanen)

Noise traders incarnate: Describing a realistic noise trading process

Journal of Financial Markets, June 2021, vol. 54, (in coll. with J. PERESS)

Glued to the TV: Distracted Noise Traders and Stock Market Liquidity

Journal of Finance (The), April 2020, vol. 75, n° 2, pp 1083-1133, (in coll. with J. PERESS)

Stock Market Rumors and Credibility

Review of Financial Studies, August 2020, vol. 33, n° 8, pp 3804-3853,

Distracted Institutional Investors

Journal of Financial and Quantitative Analysis, December 2019, vol. 54, n° 6, pp 2453-2491,

Working papers

Scientific articles

Fundamental Arbitrage under the Microscope: Evidence from Detailed Hedge Fund Transaction Data

Review of Asset Pricing Studies, March 2022, vol. 12, n° 1, pp 199-242, (in coll. with B. von Beschwitz, S. Lunghi)

Learning from Noise? Price and Liquidity Spillovers around Mutual Fund Fire Sales

Review of Asset Pricing Studies, June 2022, vol. 12, n° 2, pp 593-637, (in coll. with P. Honkanen)

Noise traders incarnate: Describing a realistic noise trading process

Journal of Financial Markets, June 2021, vol. 54, (in coll. with J. PERESS)

Glued to the TV: Distracted Noise Traders and Stock Market Liquidity

Journal of Finance (The), April 2020, vol. 75, n° 2, pp 1083-1133, (in coll. with J. PERESS)

Working papers

Education

  • Ph.D. in Finance, INSEAD - France
  • M.Sc. in Management, INSEAD - France
  • Diplom-Volkswirt (M.Sc. in Economics equivalent)- specializations in econometrics and finance, Universität Münster - Westffälische Wilhelms - Germany

Academic appointments

Academic Responsibilities at HEC

  • 2020- Member of GREGHEC, the joint research laboratory CNRS-HEC Paris HEC Paris
  • 2019- Associate Professor, Finance HEC Paris
  • 2013-2019 Assistant Professor, Finance HEC Paris

Scientific Activities

Membership in Academic or Professional Organisation

  • Member, American Finance Association
  • Member, European Finance Association

Editorial activities

  • Reviewer, Review of Finance, Journal of Economics Behavior Organization