3rd Annual News and Finance Conference

Thursday, March 8, 2018
8:30 a.m.–5:00 p.m., Reception to follow
Pulitzer Hall | Lecture Hall, Columbia Journalism School


Conference Brief

Financial economists have long been interested in how markets incorporate information. In the last decade, the confluence of improved computational tools and data availability for text analysis have led to new research methods and many important insights into how markets respond to the news media. But how does information become news in the first place? How do choices made by journalists shape the news to which markets react?

Organized by the News and Finance Initiative of Columbia Business School’s Program for Financial Studies and its faculty directors Paul Glasserman, Harry Mamaysky, and Paul Tetlock around their current research, this major conference will bring together an unprecedented group of interdisciplinary leaders from across academia, business, government, and the media to explore new frontiers in the study of the dissemination of news and its influence on markets. The event is expected to draw 150+ leaders from across these sectors, building upon the past two successful News and Finance conferences in 2017 and 2016.

The News and Finance Initiative of the Program for Financial Studies gratefully acknowledges its Lead Industry Sponsors:


its Affiliate Industry Sponsor:

as well as the following conference sponsors:


The Program for Financial Studies gratefully acknowledges Thomson Reuters for generously providing access to data sets that have enabled the research upon which the News and Finance initiative has been built.

For information regarding the conference, contact Melina Robbana, Program Director of the Program for Financial Studies, at 646-745-8554 or [email protected].

For information on sponsorship opportunities, contact Elena Piercy, Senior Executive Director of Corporate and Foundation Relations, at 212-854-6953 or [email protected].





Registration and light breakfast

Introductory remarks by:

Harry Mamaysky, Associate Professor of Professional Practice; Director of the News and Finance Initiative, Program for Financial Studies, Columbia Business School

Jeannette M. Wing, Avanessians Director of the Data Science Institute, Columbia University

9:00-9:35 Matthew D. Shapiro, Lawrence R. Klein Collegiate Professor of Economics, University of Michigan presenting: "Things Fall Apart: Learning About the New Economy from the Instability of Nowcasters Based on Social Media"

Joel Peress, Claude Janssen Chair in Business, INSEAD presenting: "Glued to the TV: Distracted Noise Traders and Stock Market Liquidity"

10:10-10:25 Break
10:25-11:00 Steven A. Sharpe, Deputy Associate Director, Federal Reserve Board presenting: "What’s the Story? A New Perspective on the Value of Economic Forecasts"

Marina Niessner, Assistant Professor of Finance, Yale School of Management presenting: “Fake News in Financial Markets”


Journalist Panel

Moderator: Charles W. Calomiris, Henry Kaufman Professor of Financial Institutions; Faculty Director of the Program for Financial Studies, Columbia Business School

Shannon Bond, U.S. Media Correspondent, Financial Times
Sarah Kopit, Editor, Bloomberg
Francine McKenna, Transparency Reporter, MarketWatch
Chris Wiggins, Associate Professor in the Department of Applied Physics and Applied Mathematics, Columbia University; Chief Data Scientist, New York Times


Lunch and Keynote: Robert J. Shiller, Nobel Laureate and Sterling Professor of Economics, Yale University presenting: "Narrative Economics Revisited"


R. David McLean, Associate Professor of Finance and Anderson Faculty Fellow, McDonough School of Business, Georgetown University presenting: "Anomalies and News"


Industry Panel

Moderator: Jeannette M. Wing, Avanessians Director of the Data Science Institute, Columbia University

Alessandro Beber, Managing Director, Global Equity Research, Blackrock
Peter Hafez, Chief Data Scientist, Ravenpack
Tsveta Petrova, Practice Head, EG Labs, Eurasia Group
Thanos Vassilakis, Managing Director, RBC Capital Markets




Xiaoxia Lou, Associate Professor of Finance, University of Delaware presenting: "Media Reinforcement in International Financial Markets"


Tarik Umar, Assistant Professor of Finance, Jones Graduate School of Business, Rice University presenting: "Complexity Aversion When Seeking Alpha"

5:00-6:00 Reception


The Program for Financial Studies has partnered with the Master of Science in Financial Economics (MSFE) degree at the Business School. Click HERE to read the FT article featuring the MSFE program and recent graduate Kevin Guo.

For more information about the MSFE program, please visit: https://academics.gsb.columbia.edu/msfe