Pekka Honkanen

I am an Assistant Professor of Finance at the Terry College of Business at the University of Georgia. My primary fields of research are mutual funds and market microstructure. I am interested in securities lending, short selling, and mutual fund investments, with a focus on information transmission in the financial markets.

• ETFs and mutual funds; financial market intermediaries; short selling; securities lending.

Working Papers

• Passive Ownership and Short Selling (with Bastian von Beschwitz and Daniel Schmidt, Conditionally accepted: Review of Finance)
• Intermediation, Pricing, and Hedging in OTC Markets Equity Total Return Swaps

Journal Articles

• Learning from Noise? Price and Liquidity Spillovers around Mutual Fund Fire Sales (with Daniel Schmidt, The Review of Asset Pricing Studies, Volume 12, Issue 2, June 2022, Pages 593–637)
• Securities Lending and Trading by Active and Passive Funds (Forthcoming: Journal of Financial and Quantitative Analysis)
• ETF Dividend Cycles Predict Money Market Fund Flows and Treasury Yield Changes (with Yapei Zhang and Tony Zhou, Forthcoming: Critical Finance Review)