VFN-L October 2003

vfn-l@fam.tuwien.ac.at

4 participants
7 discussions

[VFN] CCEFM Workshop Prof. Duan
by Alex Stomper 29 Oct '03

29 Oct '03

CCEFM Workshop Prof. Jin-Chuan Duan, University of Toronto "Executive Stock Options and Incentive Effects due to Systematic Risk" Friday, November 7th, 3:30-5:00 pm Wirtschaftsuniversität Wien, Augasse 2-6, H 0.5 (A) The paper is downloadable from: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html

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[VFN] CCEFM workshop
by Alex Stomper 27 Oct '03

27 Oct '03

CCEFM Workshop Prof. Gilles Chemla, University of British Columbia "The Dynamic Trade-Off Theory with Real Investment" Friday, October 31st, 3:30-5:00 pm Wiener Börse Wallnerstrasse 8, 1010 Wien The paper is downloadable from: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html Further workshops: 7.11. Jin-Chuan Duan, University of Toronto on executive stock options 21.11. Chester Spatt, Carnegie Mellon University

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[VFN] Re: Gutmann Symposium on Capital Market Based Pension Systems - Dec. 1st Vienna
by Gutmann Center Vienna 23 Oct '03

23 Oct '03

The Gutmann Center for Portfolio Management (www.gutmann-center.at) at the University of Vienna is pleased to announce the GUTMANN SYMPOSIUM ON CAPITAL MARKET BASED PENSION SYSTEMS DATE: DECEMBER 1st, 2003 8.00 a.m. 6.00 p.m. LOCATION: UNIVERSITY OF VIENNA (Austria) Dr. Karl-Lueger-Ring 1, 1010 Wien (Kleiner Festsaal) The reform of pension systems is one of the greatest challenges for most industrialized countries. As traditional pay-as-you-go-systems increasingly face budgetary constraints, capital market based solutions will become crucial. The internationally recognized speakers at our symposium approach this hot topic from an academic as well as from a practitioner's point of view: · Lawrence N. BADER "Funding Corporate Pension Plans" · David BLAKE, Pensions Institute, Birkbeck College, University of London PensionMetrics: On the stochastic design of pension plans during the accumulation & distribution phases · Bill FUNG, London Business School "Is there sufficient Absolute Return Capacity to meet Absolute Liabilities of Pension Funds?" · Jeremy GOLD, Wharton School, University of Pennsylvania/ Jeremy Gold Pensions Accounting/Actuarial Bias Enables Equity Investment by Defined Benefit Pension Plans · Kristian R. MILTERSEN, Norwegian School of Economics and Business Administration International Comparison of Interest Rate Guarantees in Life Insurance · Andrea PRAT, London School of Economics "Pension Fund Governance and the Choice between Defined Benefit and Defined Contribution Plans" · Christian SCHLAG, Goethe-Universität Frankfurt a.M. "Money-Back Guarantees in Individual Pension Accounts: Evidence from the German Pension Reform" The sessions will be discussed and chaired by members of the Academic Advisory Board: · Elroy Dimson, London Business School · Engelbert Dockner, University of Vienna · Robert Korajczyk, Northwestern University · Klaus Spremann, University St. Gallen · Neal Stoughton, University of California, Irvine · René M. Stulz, Ohio State University, Fisher · Suresh Sundaresan, Columbia University · Maria Vassalou, Columbia University · Josef Zechner, University of Vienna, Director of the Gutmann Center for Portfolio Management The symposium will be followed by a panel discussion and a reception. Participation fee: the participation is free, but all participants are required to register. Please find further information about registration, program, papers etc on the homepage: http://www.gutmann-center.at. Contact: gutmann.bwl(a)univie.ac.at phone: +43-1-4277-38186 fax: +43-14277-38074 The Gutmann Center for Portfolio Management is sponsored by Bank Gutmann AG (www.gutmann.at). This symposium is presented in cooperation with the Austrian newspaper "DIE PRESSE" (www.diepresse.com)

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[VFN] 2nd Call
by Peter Steiner 21 Oct '03

21 Oct '03

to whom it may concern Ich bitte um Verteilung des Second Call for Papers der Austrian Working Group on Banking & Finance. Besten Dank im voraus MfG - stp KARL-FRANZENS-UNIVERSITÄT GRAZ INSTITUT FÜR BANKEN & FINANZIERUNG 17. WORKSHOP AUSTRIAN WORKING GROUP ON BANKING & FINANCE 28. / 29. November 2003 Second CALL for PAPERS Der Workshop findet am Freitag, dem 28. November 2003, Nachmittag, und am Samstag, dem 29. November 2003, Vormittag, an der KARL-FRANZENS-UNIVERSITÄT GRAZ statt. Bezüglich der Themen ist keine Einschränkung vorgesehen. Papers oder Extended Abstracts (ca. 2 Seiten) können bis spätestens 7. November 2003 bei o.Univ.-Prof. Dr. Peter Steiner Institut für Banken und Finanzierung, Universitätsstraße 15/F2, A 8010 Graz eingereicht werden. Tel.: +43(0)316 380-7300 Fax: +43(0)316 380-9580 E-Mail: bafin(a)uni-graz.at Um den angestrebten Workshopcharakter der Veranstaltung zu fördern, können papers auch durch einen discussant besprochen werden. Jene Teilnehmer, die eine solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 24. Oktober 2003 einzureichen. AUSTRIAN WORKING GROUP ON BANKING AND FINANCE Ziele: Schaffen eines österreichweiten Diskussionsforums für theoretische und empirische Forschungsarbeiten auf dem Gebiet des Bankwesens und der Finanzwirtschaft. Förderung der Zusammenarbeit innerhalb der Hochschulen und der Zusammenarbeit mit der Praxis. Teilnehmer: Angesprochen sind sowohl der wissenschaftliche Nachwuchs an allen österreichischen Universitäten und verwandten Institutionen der Forschung als auch Praktiker in Kreditinstituten und Finanzabteilungen von Unternehmen. Schwerpunkte: Arbitrage Pricing - Capital Market Theory - Capital Requirements of Financial Intermediaries - (Auswahl) Commercial Banking - Contingent Claims Analysis - Corporate Finance - Financial Innovations - Financial Markets Research - International Banking and Finance - Investment Banking - Options and Futures - Performance Measurement - Portfolio Management - Risk Management - Security Analysis.

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[VFN] Public Lecture Andrei Shleifer Oct. 17
by Gutmann Center-D.Grimm 13 Oct '03

13 Oct '03

+ Reminder + Reminder + Reminder + Reminder + Reminder + Reminder The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT at the University of Vienna (http://www.gutmann-center.at) is pleased to announce the following PUBLIC LECTURE: Date: October 17th (Friday), 11.00 a.m. Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien (http://www.gutmann.at) Speaker: Andrei SHLEIFER, Harvard University http://post.economics.harvard.edu/faculty/shleifer/shleifer.html The Whipple V.N. Jones Professor of Economics at Harvard University, Andrei Shleifer holds an undergraduate degree from Harvard and a Ph.D. from MIT. Before coming to Harvard in 1991, he has taught at Princeton and the Chicago Business School. Shleifer has worked in the areas of comparative corporate governance, law and finance, behavioral finance, as well as institutional economics. He has published four books, including The Grabbing Hand (with Robert Vishny), and Inefficient Markets: An Introduction to Behavioral Finance, as well as over a hundred articles. Shleifer has served as the Editor of the Quarterly Journal of Economics between 1989 and 1999, and as an Associate Editor of both the Journal of Finance and the Journal of Financial Economics. He is currently the Editor of the Journal of Economic Perspectives and an Advisory Editor of the JFE. Shleifer is a fellow of the Econometric Society and of the American Academy of Arts and Sciences. In 1999, Shleifer won the John Bates Clark medal of the American Economic Association. Title: "A Normal Country" Russia's reforms Abstract: "During the 1990s, Russia underwent an extraordinary transformation from a communist dictatorship to a multi-party democracy, from a centrally planned economy to a market economy, and from a belligerent adversary of the West to a cooperative partner. Yet a consensus in the US circa 2000 viewed Russia as a disastrous and threatening failure, and the 1990s as a decade of catastrophe for its citizens. Analyzing a variety of economic and political data, we demonstrate a large gap between this perception and the facts. In contrast to the common image, by the late 1990s Russia had become a typical middle-income capitalist democracy." PLEASE NOTE: THE PAPER CAN BE DOWNLOADED FROM http://www.gutmann-center.at/bridging/public_lectures/paper_shleifer.pdf Please register - Contact: Brigitte Juchelka, Bank Gutmann AG mail: brigitte.juchelka(a)gutmann.at Tel.: +43-1-50220-357 Fax: +43-1-50220-249 Further information: Dorothea Grimm Gutmann Center for Portfolio Management mail: dorothea.grimm(a)univie.ac.at Phone: +43-1-4277-38186 web: http://www.gutmann-center.at

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[VFN] CCERM Workshop, Prof. Shleifer
by Alex Stomper 10 Oct '03

10 Oct '03

Upcoming CCEFM Workshops: Prof. Andrei Shleifer, Harvard University "What works in Securities Laws?" Friday, October 17th, 3:30-5:00 pm Wiener Börse, Wallnerstrasse 8, 1010 Wien Prof. Michael Brennan, UCLA "The Dynamics of International Equity Market Expectations" Friday, October 24th, 3:30-5:00 pm Wiener Börse, Wallnerstrasse 8, 1010 Wien For further information, see the following page: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html

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[VFN] Talk Prof. Brennan October 6th Gutmann Center - reminder
by Gutmann Center-D.Grimm 02 Oct '03

02 Oct '03

* REMINDER * REMINDER * REMINDER * REMINDER * REMINDER * REMINDER * REMINDER * REMINDER The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT at the University of Vienna (http://www.gutmann-center.at) is pleased to announce the following PUBLIC LECTURE: Date: October, 6th (Monday), 4.00 p.m. Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien (http://www.gutmann.at) Speaker: Michael J. BRENNAN former Irwin and Goldyne Hearsh Professor of Banking and Finance at the University of California, Los Angeles Professor of Finance at the London Business School. Prof. Brennan, a consultant and Director of Smith Breeden Associates, is the former Irwin and Goldyne Hearsh Professor of Banking and Finance at the University of California, Los Angeles, and Professor of Finance at the London Business School. Dr. Brennan's research interests include asset pricing, corporate finance, the pricing and role of derivative securities, market microstructure, and the role of information in capital markets, and he has published extensively in all of these areas. He is currently working on several issues, including the problem of asset allocation when investors face time varying opportunity sets, the determinants of international flows of portfolio investment, and the valuation of assets under time-varying market risk aversion. A former President of the American Finance Association, the Society for Financial Studies, and the Western Finance Association, Dr. Brennan has also served as Editor of the Journal of Finance and was the Founding Editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the US, and in 1995 he was awarded the INQUIRE Europe prize for his work on corporate hedging strategies Title: "REASONABLE BELIEFS" Abstract: "In this talk I will be concerned with the assessment of the equity premium the difference between the expected returns on stocks and bonds. I will argue that traditional ways of assessing the premium are inappropriate in world in which the premium varies over time, and propose alternatives. Finally, I will discuss the implications of time-variation in the equity premium for the spending policies of endowments." Please register - Contact: Brigitte Juchelka, Bank Gutmann AG mail: brigitte.juchelka(a)gutmann.at Tel.: +43-1-50220-357 Fax: +43-1-50220-249 Further information: Dorothea Grimm Gutmann Center for Portfolio Management mail: dorothea.grimm(a)univie.ac.at Phone: +43-1-4277-38186 web: http://www.gutmann-center.at

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VFN-L October 2003