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Christophe SPAENJERS

Associate Professor

Finance

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Biography

Christophe Spaenjers is an Associate Professor of Finance at HEC Paris. He earned his Ph.D. at Tilburg University. 

His research interests include investments, investor behavior, household finance, corporate finance, and financial history.

He has published in journals such as the American Economic Review, Journal of Financial Economics, Management Science, and Oxford Economic Papers. Christophe Spaenjers teaches in the MBA programs.

Scientific articles

A Model of Trading in the Art Market

American Economic Review, March 2018, vol. 108, n° 3, pp 744-774

No-trade in second-price auctions with entry costs and secret reserve prices

Economics Letters, July 2017, vol. 156, pp 142-144

Organizational and Epistemic Change: The Growth of the Art Investment Field

Accounting, Organizations and Society, November 2016, vol. 55, pp 48 - 62

Subjective life horizon and portfolio choice

Journal of Economic Behavior and Organization, August 2015, vol. 116, pp 94-106

The Economics of Aesthetics and Record Prices for Art since 1701

Explorations in Economic History, July 2015, vol. 57, pp 79-94

The price of wine

Journal of Financial Economics, November 2015, vol. 118, n° 2, pp 431-449

Investing in Emotional Assets

Financial Analysts Journal, March - April 2014, vol. 70, n° 2, pp 20-25

Sentiment and Art Prices Records

Economics Letters, March 2014, vol. 122, n° 3, pp 432-434

Buying Beauty: On Prices and Returns in the Art Market

Management Science, January 2013, vol. 59, n° 1, pp 36-53

Hard assets: The returns on rare diamonds and gems

Finance Research Letters, December 2012, vol. 9, n° 4, pp 220-230

Chapters edited in books

Religion and finance

Socially Responsible Finance And Investing, H. Kent Baker, J. Nofsinger (Eds), John Wiley & Sons

Working papers

A Model of Trading and Price Indexes in the Art Market

Cahier de Recherche du Groupe HEC , 2016

Auctions with Participation Costs and Secret Reserve Prices

Cahier de Recherche du Groupe HEC , 2016

A Model of Trading in Unique Durable Assets

Cahier de Recherche du Groupe HEC , 2014

The Long-Term Returns to Durable Assets

Cahier de Recherche du Groupe HEC , 2016

Subjective Life Horizon and Portfolio Choice

Cahier de Recherche du Groupe HEC , 2013

The Price of Wine

Cahier de Recherche du Groupe HEC , 2013

Scientific articles

A Model of Trading in the Art Market

American Economic Review, March 2018, vol. 108, n° 3, pp 744-774

No-trade in second-price auctions with entry costs and secret reserve prices

Economics Letters, July 2017, vol. 156, pp 142-144

Organizational and Epistemic Change: The Growth of the Art Investment Field

Accounting, Organizations and Society, November 2016, vol. 55, pp 48 - 62

Subjective life horizon and portfolio choice

Journal of Economic Behavior and Organization, August 2015, vol. 116, pp 94-106

Chapters edited in books

Religion and finance

Socially Responsible Finance And Investing, H. Kent Baker, J. Nofsinger (Eds), John Wiley & Sons

Working papers

A Model of Trading and Price Indexes in the Art Market

Cahier de Recherche du Groupe HEC , 2016

Auctions with Participation Costs and Secret Reserve Prices

Cahier de Recherche du Groupe HEC , 2016

A Model of Trading in Unique Durable Assets

Cahier de Recherche du Groupe HEC , 2014

Education

  • Ph.D. in Finance , Tilburg University - The Netherlands
  • M.Phil. in Finance , Tilburg University - The Netherlands
  • M.Sc. in Business Economics , Ghent University - Belgium

Academic appointments

Academic responsabilities at HEC

  • 2016- Associate Professor, Finance
  • 2011-2016 Assistant Professor, Finance
  • 2011- Member of GREGHEC (CNRS)

Scientific Activities

Editorial activities

  • 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

  • Conference organisation

  • 2014-2014 Co-organizer, Art, Mind and Markets - Yale School of Management
  • 2012-2014 Coordinator, Finance Brown Bag seminars, HEC Paris
  • Awards & honors

    Membership in Academic or Professional Organisation

    • 2015 Fondation Banque de France "Young Researcher in Economics" 2015 Prize
    • 2013 American Association of Wine Economists Prize for the Best Conference Presentation