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University of Essex homepage Events Business Education and Portfolio Returns
Event

Business Education and Portfolio Returns

  • Wed 12 Nov 25

    13:00 - 14:30

  • Online

    Zoom (email for link)

  • Event speaker

    Dr Yigitcan Karabulut

  • Event type

    Lectures, talks and seminars

  • Event organiser

    Essex Finance Centre

  • Contact details

    Dr Mehmet Furkan Karaca

The Essex Finance Centre (EFiC) warmly invites you to join the research seminar with Dr Yigitcan Karabulut from Frankfurt School of Finance and Management.

Using university admission cut-offs that generate exogenous variation in college-major choices, we provide causal evidence that enrolling in a business or economics program leads individuals to invest more in the stock market and earn higher risk-adjusted portfolio returns compared to similar peers.

The documented return effects are not primarily driven by differences in risk-taking, innate ability, labour market outcomes, or scale effects, but by the financial knowledge and skills acquired through business education, which lead to better investment choices. This ultimately results in higher wealth accumulation over time, highlighting how early investments in financial knowledge can shape life-cycle wealth trajectories.

Speaker

Yigitcan Karabulut is an Associate Professor of Finance at Frankfurt School of Finance & Management. He is also a Research Fellow of the Network for Studies on Pension, Aging and Retirement (Netspar), and a Network Associate of the Centre for Economic Policy Research (CEPR). Prior to joining the faculty of Frankfurt School, he was a faculty member at the Rotterdam School of Management, Erasmus University (RSM), and an Associate Member of the Erasmus Research Institute of Management (ERIM) in the Netherlands.

Dr Karabulut’s research interests are in the areas of household finance, behavioural finance, and empirical asset pricing. His research has been published in leading finance and management journals. It is also featured in various international media outlets including the Wall Street Journal, BBC, and Spiegel. He received his doctoral degree from Goethe University Frankfurt.

Essex Finance Centre (EFiC)
Research degrees at Essex Business School
Research from Essex Business School
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