Paul Karehnke is a Professor of Finance at ESCP Business School. He received a joint PhD from Université Paris-Dauphine and Tilburg University in 2014 and a research direction degree (HDR) from Université Toulouse 1 Capitole in 2021. Prior to joining ESCP in 2018, he was a Lecturer and then a Senior Lecturer at the University of New South Wales in Sydney (Australia).

His research interests include asset pricing, portfolio choice, investments, behavioral finance, and choice under risk. His work has been published in journals such as the Journal of Financial EconomicsJournal of Financial and Quantitative AnalysisManagement Science, and Review of Finance.

His research has also been recognized by the AMF Young Researcher Award in 2021, the ESCP Research Award in 2022, and the Best Young Researcher in Finance and Insurance Award in 2024 from IEF/SCOR Foundation for Science.

He regularly serves as a referee for top-tier finance and economics journals, and he is currently an associate editor at the Journal of Empirical Finance.

At ESCP, he teaches Corporate Finance in the Master in Management, Financial Economics & Investments in the Master of Finance, and Asset Pricing in the PhD program.

More information is available here: https://sites.google.com/site/paulkarehnke/  

Research papers are available here: https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1489615

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7 publications

Academic Articles

2024

KAREHNKE, P., G.

Systematic Skewness and Stock Returns

REVIEW OF ASSET PRICING STUDIES, 14(4), 578–612

Academic Articles

2022

BARROSO, P., R. EDELEN, P. , G. KAREHNKE

Crowding and Tail Risk in Momentum Returns

JFQA JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, 57(4), 1313-1342

Academic Articles

2021

BARROSO, P., M. BOONS, P. , G. KAREHNKE

Time-varying state variable risk premia in the ICAPM

JOURNAL OF FINANCIAL ECONOMICS, 139(2), 428-451

Academic Articles

2020

KAREHNKE, P., G., F. DE ROON

Spanning Tests for Assets with Option-Like Payoffs: The Case of Hedge Funds

MANAGEMENT SCIENCE, 66(12), 5969-5989

Academic Articles

2018

JOUINI, E., P. , G. KAREHNKE, C. NAPP

Stereotypes, Underconfidence and Decision-Making with an Application to Gender and Math

JOURNAL OF ECONOMIC BEHAVIOR AND ORGANIZATION, 148, 34-45

Academic Articles

2017

DE ROON, F., P. , G. KAREHNKE

A Simple Skewed Distribution with Asset Pricing Applications

REVIEW OF FINANCE, 21(6), 2169-2197

Academic Articles

2014

JOUINI, E., P. , G. KAREHNKE, C. NAPP

On Portfolio Choice with Savoring and Disappointment

MANAGEMENT SCIENCE, 60(3), 796-804