Ms. Huynh is a PhD candidate in finance at Université Toulouse 1 Capitole. She obtained her Master Science in finance at Toulouse School of Management. Ms. Huynh used to work as an executive assistant to Research Director in HSC, a leading brokerage house and investment bank in Vietnam. Her research focus is on behavioural finance and corporate finance.
- Experimental finance
- Investment
- Agent's psychology
- Corporate Finance
- Derivatives
- Corporate Valuation
- Portfolio Theory
- My research focuses on long-term portfolio choice. Below is the description of my recent works: 1. LONG-TERM INVESTMENT: EXPECTATION FORMATION AND PORTFOLIO ALLOCATION WHEN RETURNS ARE PREDICTABLE We conduct an experiment to explore how investors’ forecast regarding long-term future return is formed and subjects make allocations given their forecasts. Our preliminary results show that subjects form their forecasts in a way that reflects their possible mistake when perceiving the predictability in returns. We also found that subjects are extrapolative in the sense that they expect future return to be high if today return is high and vice versa. However, such extrapolation disappears when subjects are provided with variables useful to forecast returns. Additionally, subjects rely more on their forecast to make portfolio allocation when those forecasts are made using the state variables. We also test the long-term asset allocation problem on our experiment data assuming power utility and cannot reject the model. 2. FREQUENCY OF RETURNS AND PORTFOLIO ALLOCATION: There is sufficient evidence showing that subjects would allocate more of their wealth to risky assets if they observe the risky return less frequently. We conduct an experiment with a design that is closer to investors’ experience: less frequent returns often goes with less information available to investors. In one of the treatment where return display is infrequent, we simply let subjects experience the time passing by without information regarding their portfolio. The preliminary result shows that subjects allocate significantly less wealth to risky return in such treatment. This suggests that the results in the earlier seminal paper of Thaler, Twersky, Kahneman and Schwartz (1997) and Gneezy and Potters (1997) are fragile and their implications are not so straight-forward.
- Finance, Massachusetts Institute of Technology, USA, 2020
- 2017 - MSc in Finance / Toulouse School of Management
- 2012 - Bachelor, Business administration, Business administration / Foreign Trade University
- Since 2017 - PhD in Finance / Toulouse School of Management