Ivika Jäger
I am a PhD candidate at the Swedish House of Finance at the Stockholm School of Economics. My main research interests are financial institutions and information acquisition with special focus on how digitization and new technologies affect firms, the financial markets and the overall financial system. 
Please see a brief overview of my research and teaching experience below, further details are available in my CV. 
Selected research:
1) Do Robots Matter? The Impact of Automated Information Acquisition on the Stock Market (job market paper)
Does collecting regulatory financial information with the help of automated computer algorithms (robots) affect the stock market? Using the EDGAR Server Log data set, I construct rm-level measures of information acquisition by robots and non-robots and show that robots are extensively used for information acquisition when new information becomes available. The SEC's mandate regarding interactive data leads to a notable increase in information demand, consistent with decreased information acquisition costs for standardized regulatory financial information in XBRL-format. A higher relative importance of robots acquiring information about a firm combined with the XBRL adoption is associated with a consequent increase in trading volume, smaller bid-ask spreads, lower volatility, positive cumulative abnormal return and increased volume coefficient of variation. The findings are consistent with the idea that automation and standardization benets informed investors disproportionately more than uninformed traders.
Latest draft available here
2) Liability Structure and Risk-Taking: Evidence from the Money Market Fund Industry (co-authored with Mariassunta Giannetti and Ramin Baghai)
We investigate how the structure of liabilities affects financial intermediaries’ asset holdings. Following a change in regulation that made prime money market funds’ liabilities less money-like, safer funds exited the industry. The remaining funds increased the riskiness of their portfolios in response to an increase in the sensitivity of flows to performance. Consequently, issuers with lower credit risk have less access to funding from US money market funds. These findings indicate that regulation is crucial for liquidity creation and provide evidence for theories highlighting that financial intermediaries’ assets and liabilities are jointly determined.
Latest version available on SSRN​​​​​​​
Teaching:
1) Finance - lecturer/course director (2 years), teaching assistant (2 years)
Mandatory second year course for the BSc program in Retail Management at the Stockholm School of Economics covering fundamental topics in finance (risk and return, investment management and corporate finance).
2) Corporate Finance - teaching assistant (3 years)
Mandatory second year course for the BSc Program in Business and Economics at the Stockholm School of Economics.
Thesis committee:
Primary advisor: Per Strömberg
Committee members: Ramin Baghai, Michael Halling