Egle Karmaziene

Assistant Professor of Finance at Vrije Universiteit Amsterdam

Visiting Researcher at Swedish House of Finance
Candidate Fellow at Tinbergen Institute
Vice-chair of the Benelux Corporate Finance Network

Founder of mybe, a mindfulness app for children. You can download the app in Lithuanian (Android, iOS) and Ukrainian (Android, iOS) languages.

I have co-organized the 19th Corporate Finance Day. Please find the program here.

Research interests

Financial markets

Corporate governance

e.karmaziene@vu.nl

SSRN, Google Scholar 

Published Papers


Non-Standard Errors
with Albert Menkveld and 341 other authorsJournal of Finance (Forthcoming).
Short Selling Equity Exchange Traded Funds and its Effect on Stock Market Liquidity
with Valeri Sokolovski
Journal of Financial and Quantitative Analysis (2022), Vol. 57(3).

Media: “Beware of the Spider: Exchange Traded Funds and the Short-Sale Ban” Oxford Business Law Blog.

Common Ownership and Firm Dividend Policies
with Alberta Di Giuli and Naciye Sekerci
Finance Research Letters (2021), Vol.40.


The Greater the Volume, the Greater the Analyst
Finance Research Letters (2023), Vol. 51.

Working Papers


🚩 NEW PAPER 🚩Competing for Dark Trades with Paul J. IrvinePresented at: Baltic Economic Conference 2021

The Two Sides of the Corporate Bond ETF Liquidity Transformationwith Caitlin D. DannhauserPresented at: 4th Baltic Economic Conference, BI Norwegian Business School, NFN Webinar, Queen’s University Belfast, Vilnius Winter Meeting 2021, Vrije Universiteit Amsterdam

Trainspotting: Board Appointments in Private Firms with Audinga BaltrunaiteBank of Italy Temi di Discussione (Working Paper) No. 1278, CEPR Discussion paper n. 15828.Presentation on Youtube
Presented at: the Bank of Italy workshop on "Labour mobility and migration: determinants and consequences'' in Rome, the 2nd Baltic Economic Conference in Riga, 4th Marco Fanno Alumni Workshop in Naples, 25th International Panel Data Conference in Vilnius, the Ben-Gurion University, Corporate Finance Webinar, the European Finance Association in Aalto, the University of Edinburgh, the University of Ghent, the University of Groningen, the University of Namur, Workshop for Women in Political Economy 2019 in Mannheim.
Media: Voxeu, MAKING GOOD CORPORATE BOARD APPOINTMENTS: Evidence from Italy of the productivity advantages for firms in bigger and better-connected cities“, EEA media briefing."The unexpected effect of high-speed trains on board talent", LSE Business Review"Un treno carico di amministratori", Lavoce 

Incentives of Financial Analysts: Trading Turnover and CompensationPresented at: Belgian Finance Forum, EFA (Lisbon), ISM, University of Gothenburg, SIFR, 2nd Annual Lithuanian Conference on Economic Research, NFN2013.Media: "Are Analysts Paid for Turnover-generating Research?", Oxford Business Law Blog

Work in Progress

Mutual Fund Flows and Investor SentimentPresented at: Swedish House of Finance

Motives for Entrepreneurial Saving: Evidence from Sweden
with Fatemeh Hosseini
Presented at: Bank of Lithuania, Bank of Hungary, Boğaziçi University, Copenhagen Business School, Erasmus University Rotterdam, University of Gothenburg, University of Groningen, ICEF, Istanbul Technical University, LSE, NFN2016, Stockholm Business School, Stockholm School of Economics.