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Setterberg, Hanna

Hanna Setterberg holds a Ph.D in Accounting from Stockholm School of Economics and a Bachelor degree in Political Science from Stockholm University. In 2012, Hanna was awarded the Jan Wallander Scholarship, a 3-year full time post-doc scholarship given for outstanding thesis. She has been a visiting researcher at Columbia Business School in NYC and ESMT Berlin (where she is still an affiliated researcher). 

For many years she was part of the Department of Accounting at SSE, doing research on the relation between stock market prices and accounting information, and how personal characteristics are related to corporate outcomes and investor behavior. She taught financial accounting, financial analysis and corporate valuation at the bachelor- master- and EMBA-levels. 

Since 2017 Hanna is a part-time affiliated researcher with MISUM, specializing in the field of sustainable finance. She was the lead researcher in the Swedish part of a project called "Action Lab: Integrated Communications on Financial and Sustainability Performance". The other part of the project was performed on US firms and coordinated by researchers at NYU. Another project was "Long-term perspectives in investment analysis"(with Emma Sjöström and Gregor Vulturius) that focused on the time perspective of sell-side analysts, buy-side analysts and investor relations officers in the Swedish equity market. She is currently doing research on the monetization of ESG in investment decisions in a Vinnova-funded project together with Emma Sjöström and Rachelle Belinga.

Hanna has also been part of expert committees for the Swedish Government Agency Tillväxtanalys in the project "ESG and Transparency - the road to a green transition?", and for the Royal Academy of Engineering Sciences (IVA) in the project "Resource Effectiveness and the Circular Economy" where she co-authored the chapter about the role of the financial market. She was also part of building the Stockholm Sustainable Finance Centre with the responsibility of educational programs.  

Hanna spends most of her time teaching executives, often in co-operation with SSE Executive Education. She is the program director for a 2-day open enrollment program Sustainable Finance, and a customized program for IFC called Green Bonds and Sustainable Finance Executive Program


(2022) Impact Reporting and Adding Green to the Microfinance Value Chain. SSE Teaching Case No. 2022-xx. Stockholm School of Economics. (with Martina Björklund, Johan Nordlund and Emma Sjöström)

(2021) ”IQ and Corporate Insiders’ Decisions to Time Insider and Outsider Trading”, European Financial Management vol. 27, pp 814-840. (with Eugster, F., Kallunki, J., Kallunki, J-P., Nilsson, H.)

(2021). Action Lab: Integrated Communications on Financial and ESG Performance in the Earnings CallMisum Working Paper Series, No 2021-1. (with Sjöström, E.)

(2020) Green bonds in emerging markets: Isbank. SSE Teaching Case No. 2020-xx. Stockholm School of Economics. (with Johan Nordlund, Anders Richtnér and Emma Sjöström)

(2019) Long-term perspectives in investment analysis. Report published by Stockholm Sustainable Finance Centre and Swesif. (with Emma Sjöström and Gregor Vulturius)

(2017) Integrating ESG into corporate valuation: the case of SSAB. SSE Teaching Case No. 2017-04. Stockholm School of Economics. (with Emma Sjöström)

(2016). Tax Noncompliance and Insider Trading. Journal of Corporate Finance, Vol. 36, pp 157-173. (with Kallunki, J-P., Mikkonnen, J., Nilsson, H.).

(2011) The Pricing of Earnings. Essays on the Post-Earnings Announcement Drift and Earnings Quality Risk, PhD thesis, Stockholm School of Economics.


Working Papers

(2020) ”Managerial Extraversion and Firm Disclosure” (with Eugster, F., Kallunki, J., Kallunki, J-P., Nilsson, H.).

(2016) ”Analysts’ Earnings Adjustments and IFRS Adoption” (with Ecker, F., Hjelström, T., Olsson, P.)