On May 10-June 13, 2020, David Dickinson, Chair Professor of CUFE & Professor of Birmingham Business School, gave an online lecture course on Behavioral Finance to our school’s 2019 postgraduate and PhD students (including international students). This course was supported by the “CUFE talent introduction program”.
During the course, Prof. Dickinson explained in vivid terms the concept, connotations, basic theories and views of behavioral finance, as well as the outlook thereon, and expounded on the consumption-based capital asset pricing model, time-series behavioral analysis of asset returns, overconfidence, overreaction, prospect theory, theories of behavioral corporate finance and application thereof, and the noise trader model, among other important phenomena and theories about behavioral finance, by way of mathematical models and theoretical derivation. He also conducted data analysis of the bubbles caused by investors’ irrational behaviors, explained corporate finance phenomena from the behavioral finance perspective, and introduced the applications of relevant theories in realities.
A recorded video snapshot
In recent years, psychology has contributed substantially to the development of finance. Analyses of individual investors’ investment motives and behaviors based on psychological knowledge can provide references for the scientific prediction of investment and development of financial institutions and financial markets. Behavioral finance offers a new theoretical direction for some unexplainable abnormalities in financial markets. Prof. Dickinson’s course has brought a lot of cutting-edge theoretical knowledge to the students, widened their horizon, and provided relatively new theoretical research methods. And students developed a broader international perspective during learning.
Interactions in WeChat groups
During group presentations, Prof. Dickinson listened carefully to students’ empirical presentations on the subject of behavioral finance, commented on the direction and result of each group’s empirical research subject, and offered corresponding opinions for improvement.
During the interaction session after each lesson, students and Prof. Dickinson had heated discussions about theoretical knowledge gained from the course. He answered students’ questions, and offered theoretical assistance regarding their research directions and interests. Students enhanced their research capabilities and expanded relevant theoretical knowledge with the help of Prof. Dickinson.
Interactions via Tencent Meeting