Annual Financial Markets and Liquidity Conference
The Institute of Finance at Corvinus University of Budapest; the Game Theory Research Group, HUN-REN Centre for Economic and Regional Studies; the Department of Finance at ESSEC Business School; and the Faculty of Economics at Eötvös Loránd University invite you to the 16th Annual Financial Markets and Liquidity (AFML) Conference, in Budapest, Hungary, on 15th – 17th October 2025,
with Distinguished Keynote Speaker:
The 16th edition of the Annual Financial Markets and Liquidity (AFML) Conference aims to unite academics and practitioners to discuss cutting-edge research in financial markets, the broad field of liquidity, and its societal implications. The conference welcomes papers on all general finance topics, such as Corporate finance; Investments; Banking; Asset Pricing; Mathematical Finance; Systemic Risk; Regulations; ESG Investments and Sustainability; Climate Finance; Household Finance; AI and Machine Learning; and Game Theoretic Aspects of Financial Markets. The conference also welcomes submissions on liquidity-focused topics, such as Market and Funding Liquidity; Global Liquidity (both Public and Private); Leverage and Macroeconomic Determinants; Market Microstructure; Illiquid Alternative Investments; and Asset Innovations.
The conference will start with a networking session on the 15th, followed by two full days of presentations, including short paper pitching sessions to editors and an editorial plenary session.
We are honored to have at the conferences the following distinguished and invited speakers:
- AI and Machine Learning special session: Fabio Trojani, University of Geneva
- Household finance special session: Laurent Bach, ESSEC Business School
- Climate finance special session: Simona Mateut, Nottingham University
- Mathematical Finance and game theory special session: Luitgard A. M. Veraart, LSE
- Modern Debt Markets Special Session: Adam Zawadowski, Central European University
- Special Paper Pitching to the Editor: Robert Faff, Editor-in-chief, Pacific-Basin Finance Journal
- Special Paper Pitching to the Editor: Jonathan Batten (RMIT University), Chief Editor, Finance Research Letters
- Hubert János Kiss (HUN-REN Centre for Economic and Regional Studies and Corvinus University of Budapest)
- Gábor Neszveda (Central Bank of Hungary)
- Alexander Szimayer (University of Hamburg)
- Gyuri Venter (University of Warwick)
- Paul Whelan(The Chinese University of Hong Kong)
- Tamas Vadasz (KU Leuven)
- Anthony Saunders(NYU Stern)
If you have any questions, please contact us at afml@uni-corvinus.hu.
Registration, Payment, and Conference Details
- All submissions are reviewed by at least two members of the Scientific Committee. Authors of accepted papers are notified of the Program Committee’s decisions via email.
- Submissions may be accepted for full presentations, short pitch talks, or poster presentations.
- Registrations are open until the 1st of September 2025. Click here to register and guarantee the early bird fee.
- Conference registration fee: The AFML 2025 participation costs EUR 450 (early bird registration by 1st of August is EUR 350). For PhD students, participation costs EUR 350 (early bird registration by 1st of August is EUR 250). It includes coffee breaks, two lunches, a conference dinner, and conference accessories.
- The payment can be made online with a credit card or via bank transfer. More information will be provided via email to registered participants.
- Please note that the conference will be held in person only, in the main campus of the Corvinus University of Budapest (Budapest, Fővám tér 8, 1093).
Program and book of abstracts
The program and book of abstracts will be available around September 2025.
Sponsors
Organizers
Game Theory Research Group
HUN-REN Centre for Economic and Regional Studies
Eötvös Loránd University
CY Initiative of Excellence
Sponsors
Scientific committee
- Péter Csóka (Chair, Corvinus University of Budapest and HUN-REN Centre for Economic and Regional Studies)
- Adam Zawadowski (Central European University)
- Alexander Szimayer (University of Hamburg)
- Andras Fulop (ESSEC Business School, France)
- Anita Lovas (Corvinus University of Budapest)
- Attila András Víg (Corvinus University of Budapest)
- Barbara Dömötör (Corvinus University of Budapest)
- Dániel Havran (Corvinus University of Budapest)
- Dávid Zoltán Szabó (Corvinus University of Budapest)
- Edina Berlinger (Corvinus University of Budapest)
- Gábor Neszveda (Central Bank of Hungary)
- Günter Strobl (University of Vienna)
- György Walter (Eötvös Loránd University)
- Gyuri Venter (University of Warwick)
- Harald Kinateder (Passau University)
- Helena Naffa (Corvinus University of Budapest)
- Hubert János Kiss (HUN-REN Centre for Economic and Regional Studies and Corvinus University of Budapest)
- Igor Lončarski (University of Ljubljana)
- James Steeley (Brunel University London)
- Jonathan A. Batten (RMIT University)
- Judit Lilla Keresztúri (Corvinus University of Budapest)
- Kata Váradi (Corvinus University of Budapest)
- László Á. Kóczy (HUN-REN Centre for Economic and Regional Studies and Budapest University of Technology and Economics)
- Laurence Daures (ESSEC Business School)
- Mihály Ormos (Eötvös Loránd University)
- Niklas Wagner (Passau University)
- Paul Whelan (The Chinese University of Hong Kong)
- Péter Szilágyi (EDHEC Business School)
- Robert Faff (The University of Queensland and Corvinus University of Budapest)
- Samet Gunay (Corvinus University of Budapest)
- Tamás Vadász (KU Leuven)
- Thomas Gehrig (University of Vienna)
- Thomas Walker (Concordia University)
- Zsuzsa R. Huszár (Corvinus University of Budapest)
PBFJ Call for Pre-registered Proposals
An exciting new initiative for the 2025th edition of the AFML conference comes from one of our supporting journals, the Pacific-Basin Finance Journal (PBFJ), offering a publication pathway for high-quality pre-registered research proposals. While all mainstream finance topics are eligible for the PBFJ pre-registered research initiative, the journal is particularly interested in bold new research proposals on:
- Household finance
- AI & Machine learning
- Central and Eastern European markets and contexts
To participate in this unique opportunity, submit a 1,000-word pitch of your research idea (identified as “phase 2” in the PBFJ Editorial Note) by the conference due date. Additionally, include a cover letter addressing the “phase 1” EOI information. Click here for more details.
Publishing opportunities
Abstracts will be published in the conference proceedings. Selected papers presented at the conference will be invited for formal submission and consideration for publication in the following journals:
