The Essex Finance Centre (EFiC) warmly invites you to join guest speaker Professor Wei Song for Southampton University.
14:00 - 16:00
Dr Wei Song, Associate Professor in Finance, Southampton Business School
Lectures, talks and seminars
EFiC Research Seminar Series
Essex Business School
Dr Nikolaos Vlastakis firstname.lastname@example.org
The Essex Finance Centre (EFiC) Research Seminar Series invites you to join guest speaker Dr Wei Song, Associated Professor in Finance at Southampton Business School. This seminar aims to explore recession managers and the production of superior returns.
This research finds that fund managers who began their careers during recessions (i.e. recession managers) produce superior returns.
However, their excess performance is time varying, as while they exhibit better market timing in recessions than their no-recession counterparts, they do not show better stock picking in booms.
This study explores in detail how managers time the market and find that recession managers hold more cash and tilt their investments towards defensive, rather than cyclical, industries in recession periods.
It is also found that funds managed by recession managers increase portfolio holdings of defensive stocks before the economic downturn starts.
Overall, the findings support the argument that the economic conditions under which an individual initially entered the labour market have a long-term impact on the career outcomes and decision making.
This seminar is free to attend with no need to book in advance. Please bring your colleagues, friends and classmates along.
Dr Wei Song is an Associate Professor in Finance at Southampton Business School.
Prior to joining Southampton in 2019, he was a lecturer in finance at Swansea University, a teaching fellow in finance at Durham University, and a Strategic Investment Manager at SinoChem in China.
Dr Song's research interests mainly focus on empirical corporate finance and corporate governance, including;
He is also interested in mutual fund management and stock price behaviour in emerging markets.
Wei's work has been published / featured in the following journals;