Marek Jochec
PhD (Finance) University of Illinois at Urbana-Champaign, USA
Academic Director of the MSF Program, Associate Professor of Finance
  • Biography
  • Publications
  • Research
  • Teaching
  • Contact

Before joining Nazarbayev University, Marek was as Assistant Professor of Finance at ISCTE Business School in Portugal, and visiting professor at School of Commerce, University of Otago, New Zealand. Before his PhD, Marek was a lecturer of finance at KIMEP (Kazakhstan). Marek also holds MBA in Finance from Wharton and MA in Economics from Central European University in Prague. Marek’s major research interest is in Behavioral Finance and Entrepreneurship. His paper “Patriotic Name Bias and Stock Returns” (Journal of Financial Markets, 2013) was cited by Robert Shiller in his Nobel Prize acceptance lecture. Marek also wrote articles in market microstructure, asset management, and on Belt&Road Initiative (BRI, also known as One Belt, One Road, OBOR). Marek frequently writes articles on economic topics in Kazakhstani media, such as Kapital and National Business. Marek’s teaches Principles of Finance, International Finance, Financial Modeling, Project Evaluation, and Valuation. Before starting an academic career, Marek worked as consultant at Roland Berger and Partner and was an intern with JP Morgan in London.

Recent Academic Publications

“Patriotic Name Bias and Stock Returns”, Journal of Financial Markets, 2013 (cited by Rebert Shiller in his Nobel Prize Recipient Lecture)

“Can Mutual Funds Time Risk Factors?”, Quarterly Review of Economics and Finance, 2009

“Short Term Persistence in Mutual Fund Market-Timing and Stock-Selection Abilities”, Annals of Finance, 2010

Working Papers

Testing the PIN Variable

Liberalism and Home Equity Bias

Testing PIN Algorithms through Simulation

Recent Presentations or Conference Papers

Testing PIN Algorithms through Simulation, International Week, Ostrava (October 2015)


“Эра незафиксированного тенге” (“Now that we have free float…”), National Business, October 2015, 

“Нацфонд Казахстана – куда двигаться дальше?” (“National Fund of RK: Where to go from here?”), National Business, June 2016,

interview on Atameken TV program on Development of Entrepreneurial Skills of Children (November 7, 2016)”:

«Рецепты успеха для отечественной экономики» (“FDI and a Cool Country”), Kapital, November 18, 2016

Marek was quoted in WSJ:

“Больше Excel, пожалуйста!”,, January 12, 2017, 

“Невидимая рука рынка – Как наличие альтернатив влияет на поведение в экономике”, Kapital, January 26, 2017,

Зачем рынкам нужно “созидательное разрушение”,, November 27, 2017

  • Behavioral Finance
  • Market Microstructure
  • Asset Management
  • Foreign Investment/BRI (formerly OBOR)    

Global Financial Management 

International Finance 

Financial Evaluation of Business Projects

Math Orientation 

Nazarbayev University Graduate School of Business

Office No. 6.037


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