Research
Research
Asset pricing, information, and investor behavior.
Information, beliefs & asset prices
Information, beliefs & asset prices
How forecasts, beliefs, and macroeconomic news shape price discovery and risk premia.
Asset pricing, information, and investor behavior.
How forecasts, beliefs, and macroeconomic news shape price discovery and risk premia.
Samia Badidi, Martijn Boons, and Rik Frehen
Management Science, 2026, 72(10), 9215–9236.
The equity premium around macroeconomic announcements compensates investors for discount rate news and reinvestment risk.
Paper details · SSRN · Published article
Presentations
Alliance Manchester Business School*, City University of Hong Kong*, CUNEF*, ESSEC Business School, Lubrafin 2023, Robeco, Queen’s University Belfast*, Shanghai Advanced Institute of Finance*, Tilburg University, Universidade do Porto*, University of Bristol Business School*, and Vienna Graduate School of Finance*.
* Presentation by coauthors.
Samia Badidi
Working paper · 2026
The relationship between forecast dispersion and the price impact of macroeconomic news depends on the experience composition of the forecaster pool.
Paper details · PDF · SSRN
Presentations
Tilburg University, Toulouse School of Economics, 8th HEC Paris Finance PhD Workshop, 6th LTI-Bank of Italy Workshop, 8th Annual Dauphine Finance PhD Workshop, EFA 2025 Doctoral Tutorial, German Finance Association 31st Meeting, UT Dallas Fall Finance Conference (Poster), Inter-Finance PhD Seminar, 38th AFBC, and Colorado Finance Summit.
How market conditions shape fund flows, investment decisions, and managerial skill.
Samia Badidi, Martijn Boons, and Rafael Zambrana
Working paper · First circulated 2024
Investors respond disproportionately to fund performance on bad market days, when outperformance reflects a distinct and persistent form of managerial skill.
Presentations
HEC Paris, Nova School of Business and Economics*, Tilburg University, University of Notre Dame*, Vienna Graduate School of Finance*, BI Norwegian Business School*, CFR Research Seminar*, and EUROFIDAI-ESSEC 2024 Paris December Finance Meeting.
* Presentation by coauthors.