Michael Ungeheuer

Michael Ungeheuer is an Associate Professor of Finance (tenured) at Aalto University's Department of Finance and a Research Council of Finland Research Fellow (2022–2027). His research focuses on behavioral finance, investor decision-making under risk, and the impact of learning environments on investment choices. He holds a Ph.D. in Finance from the University of Mannheim and has held visiting scholar positions at institutions including the University of Chicago Booth School of Business and the University of Zurich.

**Education**:

• Ph.D. in Finance (summa cum laude), University of Mannheim (2017)
• M.Sc. in Finance, Illinois Institute of Technology (2011), funded by a Fulbright Scholarship
• Diplom Business Economics (equivalent to M.Sc.), University of Mannheim (2010)

**Research Interests**: Behavioral Finance (investor behavior, household finance, portfolio choice), Judgment and Decision Making (risk perception, learning environments). His empirical work combines archival data and randomized experiments.

**Awards and Grants**: Extensive funding from institutions like the Academy of Finland, Nasdaq Nordic Foundation, and OP Financial Group. Notable awards include the Karins-Islinger Dissertation Award (2017) and DAAD research grants.

**Teaching**: Leads courses in Corporate Finance, Experimental Design in Economics, and PhD-level seminars. Advised over 63 Bachelor’s, 16 Master’s, and 1 PhD thesis. Engages in executive education through Aalto Executive Education.

**Professional Activities**: Co-chair of Helsinki Finance Summit, reviewer for top journals (Journal of Finance, Management Science), and academic service roles in global finance associations.