Klaus Grobys

Klaus Grobys

Assistant professor in Accounting and Finance Klaus Grobys has just returned from Germany, where he was visiting his family.  In Finland he has lived since 2012. Grobys has a master’s degree from the University of Kiel in Econometrics, and he has also studied Economics and Finance at the University of Stockholm.

It was as Grobys’ friend who suggested the University of Vaasa and doctoral studies. Before studying in the university, Grobys worked as an analyst in the financial industry and was familiar with heavy work load.

Grobys finalized his doctoral degree at the end of 2014. He examined cross-sectional patterns in equity returns in six essays. Grobys finished his PhD in two years, dissertation was passed with distinction.

– After about 18 months I was done with the whole coursework and the essays.

The fast progress was mainly possible because of the high motivation, hard work and passion for the research work.

– I was familiar with the mathematical methods and econometrics as a research tool to solve the practical, real life problems in stock markets, Grobys tells.

– I had already in my master studies concentrated to most challenging econometrics courses. I was willing to “suffer” for results and to really learn things I was interested in.

At the moment Grobys has several articles in process, he’s continuing the research related to asset pricing in stock markets. Latest article addresses the suggestion of a new econometric technique to measure volatility spillover effect across markets based on realized volatility.

– The empirical results, based on a data set covering the period 1986–2014 suggest that the level of total volatility spillover effects is high only when they proceed periods of economic turbulence. If the economy is quiet, volatility spillover effects are virtually non-existent, Grobys explains.

Grobys also teaches master’s level course Advanced topics in finance – quantitative financial data analysis in Matlab.

According to Grobys there has to be time and freedom to really think and analyze the research work.

– Best part of the research work is academic freedom. I can plan my own schedule and work late, if I want, says Grobys who has now a three-year contract with the department.