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Markus Broman

Markus Broman
Assistant Professor of Finance
Muck 207


  • Ph.D., Finance, Schulich School of Business - York University, 2015
  • B.Sc. (Econ.) and M.Sc. (Econ.), Finance, Hanken School of Economics, 2009

Research Interests

Asset management; investments; institutional investors; international finance; geography of finance.


  • Broman, Markus, Michael Densmore, and Pauline Shum Nolan. "The Geography of Subadvisors, Managerial Structure, and the Performance of International Equity Mutual Funds." Review of Asset Pricing Studies 13, no. 2 (2023): 343–374.
  • Broman, Markus, Debarshi K. Nandy, and Yisong S. Tian. "Industry co-agglomeration, executive mobility and compensation." Review of Quantitative Finance and Accounting 61 (2023): 817–854
  • Broman, Markus "Naïve style-level feedback trading in passive funds." Journal of Financial and Quantitative Analysis 57, no. 3 (2022): 1083-1114
  • Broman, Markus "Local demand shocks, excess co-movement and return predictability." Journal of Banking & Finance 119 (2020): 105910
  • Broman, Markus and Pauline Shum. "Relative liquidity, fund flows and shortterm demand: evidence from exchangetraded funds." Financial Review 53, no. 1 (2018): 87-115
  • Broman, Markus  "Liquidity, style investing and excess co-movement of exchange-traded fund returns." Journal of Financial Markets 30 (2016): 27-53

Presentations & Awards

  • Ohio University Copeland Fellowship
  • Winner of the 2019 CFA Society Toronto & Hillsdale Canadian Investment Research Award (paper:
    “Does Sub-Advising Abroad Improve the Performance of International Mutual Funds?”).
  • Financial Management Association Semifinalist for Best Paper Award, 2014 [x1], 2015 [x2]
  • Eastern Finance Association Outstanding Doctoral Student Paper, 2014


Markus Broman is an Assistant Professor of Finance at Ohio University. He has seven years of prior experience as an Assistant Professor of Finance at Syracuse University. His research is focused on asset management, investments, institutional investors, and international finance and has been published in leading finance journals, including the Journal of Financial and Quantitative Analysis, Journal of Banking and Finance, Journal of Financial Markets, and the Financial Review. Broman is a recipient of the CFA Society & Hillsdale Canadian Investment Research Award (2019). He received his Ph.D. in Finance from the Schulich School of Business at York University in 2015.