---------- Forwarded message ----------
Date: Wed, 01 Jun 2016 10:16:14 +0200
From: Bettina Raab <Bettina.Raab(a)jku.at>
To: vfn-l(a)fam.tuwien.ac.at
Die Johannes Kepler Universität Linz ist mit 20.000 Studierenden und
2.700 MitarbeiterInnen Oberösterreichs größte Bildungs- und
Forschungseinrichtung. An vier Fakultäten – darunter seit 2014 die neu
gegründete Medizinische Fakultät – bietet die JKU rund 60
Studienrichtungen an. Zur Verstärkung unseres Teams suchen wir zum
ehestmöglichen Zeitpunkt eine/n
Universitätsassistent/in
Institut für Betriebliche Finanzwirtschaft, Abteilung für Asset
Management
Anzeigennummer 3102
Ihre Aufgaben:
- Engagierte Lehr- und Forschungstätigkeit (Doktorarbeit)
- Übernahme administrativer Aufgaben & Unterstützung des
Abteilungsleiters & Teams
Ihr Profil:
- sehr guter Universitätsabschluss Wirtschaftswissenschaften/Finance
mit ev. ersten beruflichen Erfahrungen in der Finanzindustrie
- Beherrschung gängiger statistischer Analysemethoden
Nähere Auskünfte erteilt der Abteilungsleiter
Univ.-Prof. Dr. Teodoro D. Cocca, T +43 732 2468 7211,
E-Mail: teodoro.cocca(a)jku.at.
Das kollektivvertragliche Mindestgehalt beträgt € 2.696,50 brutto pro
Monat. Bei gleicher Qualifikation werden Frauen bevorzugt aufgenommen.
Bewerbungsfristende 15.6.2016.
--
Bettina Raab
Institutsreferentin
Asset Management / Betriebliche Finanzwirtschaft
JOHANNES KEPLER
UNIVERSITÄT LINZ
Altenberger Straße 69
Managementzentrum, 3. Stock, Trakt A, Raum Nr. 311
4040 Linz, Österreich
T +43 732 2468 7212
bettina.raab(a)jku.at
www.ibfw.jku.at
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
Date: June 14 (Tuesday), 2016 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Terrance Odean
http://faculty.haas.berkeley.edu/odean/
Title: "Unrecognized Risk Taking in Financial Markets"
Abstract
Risk-taking is an essential activity in financial markets. Standard models assume that economic agents pay attention to all relevant information, are unbiased in their assessment of risk, and dispassionately match the risks they take to consistent preferences. In practice, however, investors have limited attention, display persistent biases when assessing risk, and have inconsistent preferences. Furthermore, risk-taking is influenced by emotions. Thus investors often take risks that they neither recognize nor intend to take. Those who rely on mathematical models may actually be more, not less, prone to unintended risk-taking.
About Terrance Odean
Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business and is a Wall Street Journal Expert Panelist. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a member of the Russell Investments Academic Advisory Board, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at>
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at<http://www.gutmann-center.at>
Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!
INVITATION
(apologies for duplicated mails!)
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public.
INVESTMENT TALK
Date: Wednesday, June 15th, 2016 at 4 pm
Speaker: SHERIDAN TITMAN
Topic: "Stock Return Predictability"
ABSTRACT:
Stock returns have exhibited substantial cross-sectional predictability over the past 50 years. In addition to relatively short-term predictability that relates to return reversals and momentum, there is strong evidence of longer-term predictability that relates to firm fundamentals, like value, profitability and asset growth. There are three possible explanations for this evidence of long-term cross-sectional predictability. The first is that the observed return premiums are compensation for systematic risk, the second is that these observations are the product of data mining, and the third is that investors made a mistake about a systematic source of risk. Our analysis supports the third explanation and identifies a particular source of a mistake that relates to the perceived innovation climate, which influences both the creation and destruction of businesses.
SHERIDAN TITMAN
holds the McAllister Centennial Chair in Financial Services at the University of Texas at Austin and is a Research Associate of the National Bureau of Economic Research. Prior to joining the faculty at the University of Texas, Sheridan was a Professor at UCLA, the Hong Kong University of Science and Technology and Boston College and spent the 1988-89 academic year in Washington D.C. as the special assistant to the Assistant Secretary of the Treasury for Economic Policy. Sheridan's academic publications include both theoretical and empirical articles on asset pricing, corporate finance, energy finance, real estate finance and urban economics. He has also co-authored three finance textbooks, Financial Markets and Corporate Strategy, Valuation: The Art and Science of Corporate Investment Decisions, and Financial Management: Principles and Applications. He won the Smith-Breeden best paper award for the Journal of Finance, the GSAM best paper award for the Review of Finance and was a recipient of the Batterymarch Fellowship. Sheridan has served on the editorial boards of leading academic journals, including the Journal of Finance and the Review of Financial Studies and has served as President of both the Western Finance Association and the American Finance Association and has served as a Director of the American Finance Association, the Western Finance Association, the Financial Management Association and the Asia Pacific Finance Association. He is currently the Vice President of the American Real Estate and Urban Economics Association.
Sheridan has a B.S. from the University of Colorado and an M.S. and Ph.D. from Carnegie Mellon University.
REGISTRATION is required. We kindly ask to register before June 8th at si-researchcenter(a)wu.ac.at
LOCATION:
TU Wien
BA Chemie Hochhaus, Entrance 10, 11th upper floor, TUtheSky - Conference room
1060 Vienna, Getreidemarkt 9
PARKING FACILITIES: Wipark Operngasse 13 or Wipark Lehargasse 4.
Public transport:
U1, U2, U4 Karlsplatz (5 minutes walking distance)
U2 Museumsquartier
57A Getreidemarkt
TU building plan: http://www.si-researchcenter.at/events/investment-talk
Contact and further information:
WU, Institute for Finance, Banking and Insurance , attn. Martina Schlichting, 1020 Vienna, Welthandelsplatz 1, Building D4, Level 4
Phone: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at, web: www.si-researchcenter.at
by Sommersguter-Reichmann, Margit (margit.sommersguter＠uni-graz.at)
Sehr geehrte Damen und Herren,
wir möchten Sie hiermit auf die Ausschreibung einer Stelle einer/eines Universitätsassistentin/Universitätsassistenten mit Doktorat am Institut für Finanzwirtschaft der Universität Graz unter nachstehendem Link aufmerksam machen:
https://online.uni-graz.at/kfu_online/wbMitteilungsblaetter_neu.display?pNr…
Mit freundlichen Grüßen,
Margit Sommersguter-Reichmann
Margit Sommersguter-Reichmann, ao. Univ.-Prof., Mag. Dr.
Universitaet Graz, Institut für Finanzwirtschaft
Univ.str. 15, G2
A-8010 Graz
Tel. +43 316 380 3516
Fax +43 316 380 9555
+---------------------
|
| VCMF 2016 - Vienna, Austria
|
| Vienna Congress on Mathematical Finance
| Mon-Wed, September 12-14, 2016
|
| VCMF Educational Workshop
| Thu-Fri, September 15-16, 2016
|
| https://fam.tuwien.ac.at/vcmf2016/
|
+-------------------------------------------------
Dear Colleagues and Friends,
I would like to draw your attention to VCMF 2016, the "Vienna Congress
on Mathematical Finance" and "VCMF Educational Workshop", taking place
in Vienna in September this year.
The three-day congress covers recent topics from various fields of
Mathematical Finance such as Limit Order Book and High-Frequency
Trading, Credit and Systemic Risk, Computational Methods and
Calibration, New Financial Markets, Stochastic Volatility Models as well
as Risk Measures and Optimization. It offers leading experts and
academics alike the opportunity for scientific debate. The program is
rounded off by a two-day educational workshop led by internationally
recognized experts for young researchers. The talks and introductory
courses offer an excellent learning opportunity and time for discussion
on various relevant topics.
The organisers Vienna University of Economics and Business (WU Wien),
Vienna University of Technology (TU Wien) and University of Vienna are
excited about the joint organisation of VCMF 2016 and look forward to
the participation of national and international participants.
The call for contributed talks & posters is open until April 30, 2016.
We thank you for your interest and would like to ask whether you would
disseminate this information to interested colleagues.
We look forward to welcoming you in Vienna!
With best regards from the VCMF 2016 Organisers,
Mathias Beiglböck, Christa Cuchiero, Rüdiger Frey, Stefan Gerhold,
Friedrich Hubalek, Irene Klein, Thorsten Rheinländer,
Birgit Rudloff, Walter Schachermayer, Uwe Schmock
--
___________________________________
Prof. Dr. Thorsten Rheinländer
Vienna University of Technology
Financial and Actuarial Mathematics
Wiedner Hauptstrasse 8-10/E105-1
1040 Vienna, Austria
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien,
organisiert in Zusammenarbeit mit der Alpen-Adria Universität Klagenfurt,
Abteilung für Finance and Accounting, den
31. WORKSHOP der AWG
25./26 November 2016
First CALL for PAPERS
Der Workshop findet am Freitag, 25. November 2016 (Nachmittag) und am
Samstag, 26. November 2016 (Vormittag) an der Alpen-Adria Universität
Klagenfurt statt.
Bezüglich der Themen gibt es keine Einschränkung.
Papers oder Extended Abstracts (ca. 2 Seiten) – vorzugsweise in englischer
Sprache – sind bis spätestens 14. Oktober 2016 per eMail einzureichen an:
awg31(a)aau.at
Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, kann
jeder Vortrag durch eine/n Discussant besprochen werden. Teilnehmende, die
eine solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 30.
September 2016 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.
Teilnehmende: Angesprochen sind sowohl der wissenschaftliche Nachwuchs
an allen österreichischen Universitäten und verwandten Institutionen der
Forschung als auch Praktiker/innen in Kreditinstituten und
Finanzabteilungen von Unternehmen.
Schwerpunkte: (Auszug) Asset Pricing – Banking – Behavioral
Economics – Central Banking and Regulation – Corporate Finance – Corporate
Governance - Derivatives – Empirical Finance – Experimental Finance –
Financial Econometrics – Financial Economics - Financial
Innovations – International Finance – Market Microstructure – Performance
Measurement – Portfolio Analysis – Real Estate Finance – Risk Management –
Security Analysis.
Die Teilnahme am Workshop ist KOSTENLOS.
Dear all,
We are glad to announce the 9th European Summer School in Financial
Mathematics, which will be held in Pushkin, close to St. Petersburg,
from August 29th to September 2nd 2016.
Main lectures will be given by B. Bouchard, K. Kardaras, J. Ruf, N.
Touzi and M. Zhiltukhin.
We invite applications from PhD students and early career researchers.
Grants covering accommodation and travel expenses will be provided to
accepted participants.
Please visit the web page of the summer school for more information:
http://www.cmap.polytechnique.fr/~euroschoolmathfi16/
Deadline for applications is April 30th. Please follow the instructions
on the web page to apply.
We count on your participation to make this ninth summer school a
success, just as the previous editions have been!
Please feel free to circulate this announcement.
With our best regards,
The organising committee:
Youri Kabanov, Aleksey Muravlev, Albert Shiryaev, Peter Tankov, Nizar
Touzi, Mikhail Zhiltukhin
REMINDER of the INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
Date: March 3 (Thursday), 2016, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Sunil Wahal
https://webapp4.asu.edu/directory/person/825492
Title: "The demand for diversification in incomplete markets"
Abstract
Endogenous diversification in a market with incomplete information generates a state-dependent premium for bearing idiosyncratic risk because time series variation in average idiosyncratic risk affects the disutility of under-diversification. This idea delivers a metric that maps the marginal disutility of under-diversification to the covariance of idiosyncratic risk with average idiosyncratic risk. The metric helps explain the cross-section of returns in the US between 1973 and 2014, especially in periods of low average idiosyncratic risk. In such periods, portfolios tests generate intercepts from three and five-factor models that are economically large, and present in both small and large capitalization stocks. We observe similarly large intercepts in markets outside the US, particularly in large stocks.
About Sunil Wahal
Dr. Sunil Wahal is the Jack D. Furst Professor of Finance at ASU W. P. Carey School of Business. Before joining the ASU faculty in 2005, Dr. Wahal was on the faculty at the Goizueta Business School, Emory University, and at the Krannert School of Management, Purdue University. He received his Ph.D. in finance from University of North Carolina, Chapel Hill in 1995. Dr Wahal's research focuses on trading issues (market microstructure), short and long-horizon trading strategies, and delegated portfolio management for mutual funds and institutional investors. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and numerous other journals. He is a consultant to Dimensional Fund Advisors, advises a number of investment committees, and regularly interfaces with practitioners in a variety of ways. He is a regular speaker at academic and practitioner conferences.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at>
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at<http://www.gutmann-center.at>
Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
Date: March 3 (Thursday), 2016, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Sunil Wahal
https://webapp4.asu.edu/directory/person/825492
Title: "The demand for diversification in incomplete markets"
Abstract
Endogenous diversification in a market with incomplete information generates a state-dependent premium for bearing idiosyncratic risk because time series variation in average idiosyncratic risk affects the disutility of under-diversification. This idea delivers a metric that maps the marginal disutility of under-diversification to the covariance of idiosyncratic risk with average idiosyncratic risk. The metric helps explain the cross-section of returns in the US between 1973 and 2014, especially in periods of low average idiosyncratic risk. In such periods, portfolios tests generate intercepts from three and five-factor models that are economically large, and present in both small and large capitalization stocks. We observe similarly large intercepts in markets outside the US, particularly in large stocks.
About Sunil Wahal
Dr. Sunil Wahal is the Jack D. Furst Professor of Finance at ASU W. P. Carey School of Business. Before joining the ASU faculty in 2005, Dr. Wahal was on the faculty at the Goizueta Business School, Emory University, and at the Krannert School of Management, Purdue University. He received his Ph.D. in finance from University of North Carolina, Chapel Hill in 1995. Dr Wahal's research focuses on trading issues (market microstructure), short and long-horizon trading strategies, and delegated portfolio management for mutual funds and institutional investors. He has published extensively in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and numerous other journals. He is a consultant to Dimensional Fund Advisors, advises a number of investment committees, and regularly interfaces with practitioners in a variety of ways. He is a regular speaker at academic and practitioner conferences.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at>
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at<http://www.gutmann-center.at>
Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!
Dear Sir or Madam!
WU (Vienna University of Economics and Business) is currently inviting applications for two positions at the Department of Finance, Accounting and Statistics at Full Professor level (duration of employment is 5 years, temporary replacement position).
· Full Professor of Banking and Finance
http://www.wu.ac.at/fileadmin/wu/h/structure/servicecenters/hr/Mitteilungsb…
· Full Professor of Investments and Energy Markets
http://www.wu.ac.at/fileadmin/wu/h/structure/servicecenters/hr/Mitteilungsb…
Applications must be submitted by March 9th, 2016.
Kind regards,
Nicole Rogaunig
_________________________________________
Dipl.-Kff. Nicole Rogaunig
Stabsstelle für Berufungsangelegenheiten
Faculty Recruiting
WU
Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Welthandelsplatz 1, Gebäude AD
1020 Wien, Austria
Tel: +43-1-31336-4079 Fax: +43-1-31336-904079
Email: nicole.rogaunig(a)wu.ac.at<mailto:nicole.rogaunig@wu.ac.at>
http://www.wu.ac.at<http://www.wu.ac.at/>
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
Date: December 15 (Tuesday), 2015, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Marcin Kacperczyk
http://www.imperial.ac.uk/people/m.kacperczyk
Title: "Chasing Private Information"
Abstract
Using a sample of 3,586 illegal insider trades documented by the SEC, we examine whether asset prices and volume reveal firm-specific private information to markets. We find that information embedded in equity markets is a weak signal of private information. In turn, information embedded in option markets offers a strong signal of informed trading. We show that volume is generally more informative about insider trading than are prices. Further, we show that the impact of insider trades persists irrespective of whether insiders trade strategically or not. Finally, we document significant information spillovers from equity to option markets, but not vice versa. Overall, our results provide strong and novel guidance in the search for private information.
About Marcin Kacperczyk
Marcin Kacperczyk is a Professor of Finance at Imperial College London. He is also a Research Associate at the Center for Economic Policy Research, a former Faculty Research Fellow at the National Bureau of Economic Research, and Associate Editor at the Review of Financial Studies and Review of Finance.
His research has been published in leading academic and practitioner journals, including Econometrica, the Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and the Review of Financial Studies. His work has been widely covered by media, such as CNN, CNBC, Bloomberg, WSJ, FT, NYT, Business Week, U.S. News, and Washington Post. Two of his papers have been nominated for the Smith Breeden Prize, and received the Spängler IQAM Prize for the best paper published in the Review of Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at>
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at<http://www.gutmann-center.at>
Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
Date: December 15 (Tuesday), 2015, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Marcin Kacperczyk
http://www.imperial.ac.uk/people/m.kacperczyk
Title: "Chasing Private Information"
Abstract
Using a sample of 3,586 illegal insider trades documented by the SEC, we examine whether asset prices and volume reveal firm-specific private information to markets. We find that information embedded in equity markets is a weak signal of private information. In turn, information embedded in option markets offers a strong signal of informed trading. We show that volume is generally more informative about insider trading than are prices. Further, we show that the impact of insider trades persists irrespective of whether insiders trade strategically or not. Finally, we document significant information spillovers from equity to option markets, but not vice versa. Overall, our results provide strong and novel guidance in the search for private information.
About Marcin Kacperczyk
Marcin Kacperczyk is a Professor of Finance at Imperial College London. He is also a Research Associate at the Center for Economic Policy Research, a former Faculty Research Fellow at the National Bureau of Economic Research, and Associate Editor at the Review of Financial Studies and Review of Finance.
His research has been published in leading academic and practitioner journals, including Econometrica, the Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, and the Review of Financial Studies. His work has been widely covered by media, such as CNN, CNBC, Bloomberg, WSJ, FT, NYT, Business Week, U.S. News, and Washington Post. Two of his papers have been nominated for the Smith Breeden Prize, and received the Spängler IQAM Prize for the best paper published in the Review of Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at>
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at<http://www.gutmann-center.at>
Please contact gutmann-center(a)wu.ac.at<mailto:gutmann-center@wu.ac.at> if you do not wish to receive any further invitations from us!
Sehr geehrte Damen und Herren!
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien,
organisiert in Zusammenarbeit mit der Karl-Franzens-Universität Graz,
Institut Für Banken und Finanzierung, den
30. WORKSHOP der AWG
am 27. und 28. November 2015
Wir dürfen Ihnen nachstehend den Link zum Programm und zur Anmeldung
übersenden und würden uns über Ihr Interesse freuen.
http://bwg.at/bwg/bwg_v4.nsf/sysPages/30workshopawg.html/$file/Programm_AWG…
Mit freundlichen Grüßen
Markus Bunk
___________________________
Dr. Markus Bunk
Geschäftsführer
Österreichische Bankwissenschaftliche Gesellschaft
Eßlinggasse 17/5, A-1010 Wien
T: +431 533 50 50
F: +431 533 50 50 33
E: office(a)bwg.at
Internet: www.bwg.at
EINLADUNG
(Bitte entschuldigen Sie doppelte Zusendungen!)
INVESTMENT SEMINAR
Spängler IQAM Research Center
14:00 Begrüßung
ZUKUNFTSMODELL KAPITALGEDECKTE PENSIONSVORSORGE? (Session 1)
Moderator: Univ.-Prof. Dr. Dr.h.c. Josef Zechner (Professor of Finance, WU Wirtschaftsuniversität Wien, Stv. Vorsitzender des Aufsichtsrats und Mitglied der Wissenschaftlichen Leitung, Spängler IQAM Invest)
14:15 Umlage und Kapitaldeckung: Die verfreundeten Geschwister Prof. Dr. Dr.h.c. Bert Rürup (Präsident des Handelsblatt Research Institute, Düsseldorf und eh. „Wirtschaftsweiser“)
14:45 Strategien und Herausforderungen der Schweizer Pensionskassen – Lehren für Österreich Christoph Oeschger (Geschäftsführer der Avadis Vorsorge AG und Stiftungsrat der Avadis Anlagestiftung, Baden, Schweiz)
15:15 Diskussion
HERAUSFORDERUNGEN UND TRENDS FÜR PENSIONSFONDS (Session 2)
Moderator: Univ.-Prof. DDr. Thomas Dangl (Professor of Finance, TU Technische Universität Wien und Mitglied der Wissenschaftlichen Leitung, Spängler IQAM Invest GmbH)
16:15 Responsible Investing | Vortrag in englischer Sprache Elroy Dimson (Emeritierter Professor der London Business School, Chairman des Newton Centre for Endowment Asset Management der Cambridge Judge Business School sowie Vorsitzender des Strategierates des staatlichen norwegischen Pensionsfonds)
16.45 Diskussion mit anschließender
PODIUMSDISKUSSION: Herausforderungen und Trends für Pensionsfonds
Moderator: Univ.-Prof. Dr. Dr.h.c. Josef Zechner
Einleitendes Impulsreferat von Paul Wessling (Fachkreisleitung Kapitalanlagen & Asset Management, Vereinigung der Versicherungs-Betriebswirte, VVB Köln)
Diskussionsteilnehmer: Christoph Oeschger, Prof. Dr. Dr.h.c. Bert Rürup, Dr. Thomas Steinberger (CIO, Geschäftsführer und Mitglied der Wissenschaftlichen Leitung, Spängler IQAM Invest GmbH) und Paul Wessling
UM ANMELDUNG BIS 16. NOVEMBER WIRD GEBETEN unter si-researchcenter(a)wu.ac.at<mailto:si-researchcenter@wu.ac.at>
Ort:
Oesterreichische Kontrollbank, Reitersaal (EG)
1010 Wien, Strauchgasse 3
Anfahrt
- mit öffentlichen Verkehrsmitteln: U3 bis Station Herrengasse (Ausgang Herrengasse)
- mit dem Auto: Kostenpflichtige Parkmöglichkeiten in der Parkgarage am Hof (Am Hof 1, 1010 Wien) oder Freyung (Herrengasse, 1010 Wien)
Kontakt:
WU, Department of Finance, Accounting and Statistics
1020 Wien, Welthandelsplatz 1, Gebäude D4, 4. Stock attn. Martina Schlichting
Tel: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at<mailto:si-researchcenter@wu.ac.at>,
Web: www.si-researchcenter.at<http://www.si-researchcenter.at>
Betreff: [VFN] 30. Workshop der AWG
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien,
organisiert in Zusammenarbeit mit der Karl-Franzens-Universität Graz,
Institut Für Banken und Finanzierung, den 30. WORKSHOP der AWG
27./28. November 2015
LAST CALL for PAPERS
Der Workshop findet am Freitag, 27. November 2015 (Nachmittag) und am
Samstag, 28. November 2015 (Vormittag) an der Karl-Franzens-Universität
Graz statt.
Bezüglich der Themen gibt es keine Einschränkung.
Papers oder Extended Abstracts (ca. 2 Seiten) – vorzugsweise in englischer
Sprache – sind bis spätestens 15. Oktober 2015 per eMail einzureichen an:
awg30(a)uni-graz.at
Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, kann
jeder Vortrag durch eine/n Discussant besprochen werden. Teilnehmende, die
eine solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 1.
Oktober 2015 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.
Teilnehmende: Angesprochen sind sowohl der wissenschaftliche
Nachwuchs
an allen österreichischen Universitäten und verwandten Institutionen der
Forschung als auch Praktiker/innen in Kreditinstituten und
Finanzabteilungen von Unternehmen.
Schwerpunkte: (Auszug) Asset Pricing – Banking –
Behavioral
Economics – Central Banking and Regulation – Corporate Finance – Corporate
Governance - Derivatives – Empirical Finance – Experimental Finance –
Financial Econometrics – Financial Economics - Financial Innovations –
International Finance – Market Microstructure – Performance Measurement –
Portfolio Analysis – Real Estate Finance – Risk Management – Security
Analysis.
Die Teilnahme am Workshop ist KOSTENLOS.
UNIVERSITY OF GRAZ, INSTITUTE OF BANKING AND FINANCE, 30th WORKSHOP
AUSTRIAN WORKING GROUP ON BANKING & FINANCE
27-28 November 2015
Organized in cooperation with
Austrian Society for Bank Research (BWG), Vienna.
Second CALL for PAPERS
Workshop: Friday Nov 27 2015 (afternoon), Saturday Nov 28 November 2015
(morning).
Those wishing to present their research at the workshop are invited to
submit a full paper or a detailed abstract of about 2 pages until 15
October 2015 via e-mail to:
awg30(a)uni-graz.at
Those who wish to have (in addition to comments and recommendations from
the audience) a discussant for their paper should indicate this when
submitting the paper. In this case a full paper has to be submitted by 1
October 2015.
AUSTRIAN WORKING GROUP ON BANKING AND FINANCE
Aim:
The aim of the workshop is to offer a forum for discussion of theoretical
and empirical research in all areas of banking and finance throughout
Austria.
Participants:
All researchers (especially also junior researchers) at universities and
other research institutions as well as practitioners of the financial
industry (including finance departments of industrial and service
companies) are highly welcome to submit and present their research. Junior
researchers are for example encouraged to present one of their PhD thesis
papers/projects.
Topics:
(Selection)
Asset Pricing – Banking – Behavioral Economics – Central Banking and
Regulation – Corporate Finance – Corporate Governance - Derivatives –
Empirical Finance – Experimental Finance – Financial Econometrics –
Financial Economics - Financial Innovations – International Finance –
Market Microstructure – Performance Measurement – Portfolio Analysis – Real
Estate Finance – Risk Management – Security Analysis.
There is NO submission or registration fee for the workshop.
INVITATION - REMINDER
(apologies for duplicated mails!)
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public.
INVESTMENT TALK
Date: Monday, June 29th, 2015 at 4 pm
Speaker: VASANT NAIK
Topic: "Quantitative Valuation Metrics and Macro Investing"
ABSTRACT: My talk will explore the design and use of quantitative valuation metrics in assessing the balance of risk and reward in macro markets: global equities, global duration and credit. We will also attempt to glean investment insights from the current readings of some of these metrics and discuss the construction of optimal portfolios of these assets in the present environment.
Vasant Naik is Executive Vice President and Global Head of the Empirical Research of PIMCO, London.
Please find further information at http://europe.pimco.com/EN/Experts/Pages/Vasant-Naik.aspx
REGISTRATION is required. We kindly ask to register at si-researchcenter(a)wu.ac.at
LOCATION:
TU Wien
BA Chemie Hochhaus, Entrance 10, 11th upper floor, TUtheSky - Conference room
1060 Vienna, Getreidemarkt 9
The TU building plan you can find here: http://www.si-researchcenter.at/events/investment-talk
PARKING FACILITIES:
Wipark Operngasse 13 oder Wipark Lehargasse 4.
Public transport:
U1, U2, U4 Karlsplatz (5 minutes walking distance)
U2 Museumsquartier
57A Getreidemarkt
TU building plan: http://www.si-researchcenter.at/events/investment-talk
Contact and further information:
WU, Institute for Finance, Banking and Insurance attn. Martina Schlichting Welthandelsplatz 1, Building D4, Level 4
1020 Vienna
Phone: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at, Web: www.si-researchcenter.at
INVITATION
(apologies for duplicated mails!)
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public.
INVESTMENT TALK
Date: Monday, June 29th, 2015 at 4 pm
Speaker: VASANT NAIK
Topic: "Quantitative Valuation Metrics and Macro Investing"
ABSTRACT: My talk will explore the design and use of quantitative valuation metrics in assessing the balance of risk and reward in macro markets: global equities, global duration and credit. We will also attempt to glean investment insights from the current readings of some of these metrics and discuss the construction of optimal portfolios of these assets in the present environment.
Vasant Naik is Executive Vice President and Global Head of the Empirical Research of PIMCO, London.
Please find further information at http://europe.pimco.com/EN/Experts/Pages/Vasant-Naik.aspx
REGISTRATION is required. We kindly ask to register before June 22nd at si-researchcenter(a)wu.ac.at
LOCATION:
TU Wien
BA Chemie Hochhaus, Entrance 10, 11th upper floor, TUtheSky - Conference room
1060 Vienna, Getreidemarkt 9
The TU building plan you can find here: http://www.si-researchcenter.at/events/investment-talk
PARKING FACILITIES:
Wipark Operngasse 13 oder Wipark Lehargasse 4.
Public transport:
U1, U2, U4 Karlsplatz (5 minutes walking distance)
U2 Museumsquartier
57A Getreidemarkt
TU building plan: http://www.si-researchcenter.at/events/investment-talk
Contact and further information:
WU, Institute for Finance, Banking and Insurance
attn. Martina Schlichting
Welthandelsplatz 1, Building D4, Level 4
1020 Vienna
Phone: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at, Web: www.si-researchcenter.at
We are happy to announce the completion of the second, fully revised
edition of our book
Quantitative Risk Management: Concepts, Techniques and Tools (Princeton
University Press)
In order to celebrate this event there will be a workshop and
book-launch featuring talks by Alex McNeil and Paul Embrechts, a book
presentation and a reception. Moreover, it will be possible to buy the
new edition of the book at a reduced rate and to have it signed by the
authors.
Date and venue: *June 10, 2015, 15:30-18:30,* WU, Executive Academy, Foyer
Further details under
http://www.wu.ac.at/statmath/detail-statmath/news/detail/News/quantitative-…
If you want to attend please send an email to Karin Haupt,
karin.haupt(a)wu.ac.at by june, 1st.
Participation is free of charge.
We are looking forward to welcoming you at the event
Rüdiger Frey, Paul Embrechts and Alex McNeil
--
Prof. Ruediger Frey
Institute for Statistics and Mathematics
WU Vienna
Welthandelsplatz 1, Building D4
A-1020 Vienna, Austria
email: ruediger.frey(a)wu.ac.at
web: http://statmath.wu.ac.at/~frey/
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
************************************************************************
Date: May 21 (Thursday), 2015, 4:00 pm
PLEASE NOTE: THE LOCATION IS DIFFERENT FROM USUAL PUBLIC LECTURES!
Location: WU University of Economics and Business Vienna
Library and Learning Center, LC - Festsaal 2
1020 Vienna, Welthandelsplatz 1
Speaker: Prof. Rossen Valkanov, http://rady.ucsd.edu/faculty/directory/valkanov/
Title: Complexity in Structured Finance: Financial Wizardry or Smoke and Mirrors?
ABSTRACT: We use data from prospectus supplements to create measures of the complexity of
We We use data from prospectus supplements to create measures of the complexity of securitized
products. We find that securities in more complex deals default more. However, yields of more
complex securities are not higher at issuance indicating that investors do not perceive such assets
as more likely to default. The relation between complexity and default is not primarily due to
issuers masking low quality loans as it persists after controlling for the collateral default rate.
Rather than creating safer securities, complexity disadvantages more senior securities within a
deal. Rating agencies are more lenient in rating complex deals.
About Rossen Valkanov: Rossen Valkanov is Professor of Finance at the Rady School of
Management at the University of California, San Diego (UCSD). He received his Ph.D. in economics
from Princeton University. In 1999, he became an assistant professor of finance at UCLA's
Anderson School of Management where he remained until his appointment at UC San Diego. From
2001 to present he teaches empirical finance at the University of California, Berkeley's Haas School
of Management. He is also a guest professor of the PhD program at the Vienna Graduate School of
Finance (VGSF). Rossen Valkanov is a member of many professional organizations including the
American Finance Association, the American Economic Association, the Econometric Society and
the Bachelier Society. His research focusses on empirical asset pricing, financial econometrics,
portfolio choice, monetary policy, and real estate .
More information about Rossen Valkanov: http://rady.ucsd.edu/faculty/directory/valkanov/
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
Sehr geehrte Damen und Herren,
Der Studiengang "Quantitative Asset and Risk Management" (kurz: ARIMA) startet heuer im Herbst zum siebenten Mal und unsere AbsolventInnen haben hervorragende Chancen auf dem momentan doch recht schwierigen Arbeitsmarkt.
Gerade im Bereich "Risikomanagement" suchen Banken und Versicherungen verstärkt Personal, um den regulatorischen Herausforderungen - Basel III, Solvency II - gerecht werden zu können.
***Für das kommende Studienjahr 2015/16 werden noch Bewerbungen bis zum 31.05.2015 entgegen genommen.***
Internationalisierung:
Die Entwicklung dieses Programmes erfolgte gemeinsam mit internationalen Partneruniversitaeten und wurde von der EU als Joint Degree Curriculum Development Programm gefoerdert. Im 4. Semester findet daher ein verpflichtender Auslandsaufenthalt (mindestens zwei Wochen) bei einer der Partneruniversitaeten in Bologna, Iasi oder Katowice statt. Daraus ergibt sich auch, dass die Unterrichtssprache durchgaengig Englisch ist. Weitere Möglichkeiten zum Studierendenaustausch besteht mit der University of Xiamen (China) und der Higher School of Economics in Moskau.
Das Ziel von ARIMA
besteht darin, den Studierenden ein umfassendes Verstaendnis ueber die Zusammenhaenge zwischen Asset- und Risikomanagement im Finanzbereich zu vermitteln.
Die AbsolventInnen erhalten eine fundierte Ausbildung im Risikomanagement (Quantifizierung von Risiken, Risikoaggregation; integrierte Steuerung von Banken und Versicherungen etc.) und Asset Management (Assetklassen, Portfolioselektion, Asset Liability Management, etc.). Hinzu treten methodisch-analytische Kenntnisse und Fertigkeiten, vor allem in Finanzmathematik und Statistik.
Voraussetzungen zur Teilnahme am Masterprogramm:
Im Anschluss an ein wirtschafts-, sozial-, natur- oder rechtswissenschaftliches oder technisches Studium einer Universitaet oder Fachhochschule kann der vier Semester umfassende und berufsbegleitend organisierte Masterstudiengang ARIMA absolviert werden.
Weiters muessen besuchte Lehrveranstaltungen im Bereich Mathematik/Statisitk und Wirtschaftswissenschaften nachgewiesen werden.
Aufnahmeverfahren:
Formales Kriterium fuer die Teilnahme am Aufnahmeverfahren ist eine schriftliche Bewerbung bis spaetestens 31. Mai 2015.
Das Aufnahmeverfahren selbst besteht aus einem Interview (Diskussion eines aktuellen, finanzwirtschaftlichen Artikels auf englisch) und einem Multiple-Choice Test. Die Literatur fuer den MC-Test kann von der homepage der FH des bfi Wien heruntergeladen werden.
LektorenInnenpool aus dem wissenschaftlichen und berufsrelvanten Bereich:
Um einerseits theoretische Grundlagen zu vermitteln und andererseits die Anwendung der Theorie in der Praxis aufzuzeigen, konnten namhafte Lektoren aus diesen Bereichen fuer eine Vortragstaetigkeit in ARIMA gewonnen werden. Beispielshaft seien das IHS, die TU Wien, Oesterreichische Grossbanken und die OeNB genannt.
Wir hoffen, Ihr Interesse fuer den Studiengang geweckt zu haben und wuerden uns sehr freuen, wenn Sie dieses Schreiben an weiterbildungsinteressierte Personen in Ihrem Unternehmen weiterleiten wuerden. Fuer weitere Fragen stehen wir Ihnen gerne zur Verfuegung (silvia.helmreich(a)fh-vie.ac.at) oder besuchen Sie unsere homepage:
http://www.fh-vie.ac.at/en/Degree-Programmes/Master/Quantitative-Asset-and-…
Mit freundlichen Gruessen
Prof. (FH) Mag. Silvia Helmreich
Studiengangsleiterin ARIMA
Fachhochschule des bfi Wien GmbH
Wohlmutstrasse 22
1020 Wien
Tel.: +43 1 7201286 - 972
e-mail: silvia.helmreich(a)fh-vie.ac.at
http://www.fh-vie.ac.at
P.S.: die Kosten des Masterstudienganges betragen EUR 363,36 im Semester.
________________________________
Firmenwortlaut: Fachhochschule des bfi Wien Gesellschaft m.b.H
Firmenbuchnummer: 148597 a
Firmenbuchgericht: Handelsgericht Wien
Firmensitz: Wohlmutstraße 22, 1020 Wien
This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e-mail transmission. If verification is required please request a hard-copy version.
Dear Friends and colleagues,
Please find here an announcement for a workshop on Stochastic Methods in
Finance and Physics in July 2015.
Best regards,
Mathieu
////
Workshop on Stochastic Methods in Finance and Physics
http://www.acmac.uoc.gr/SMFP2015/
Heraklion, Greece, 20-24 July 2015
The workshop will consist of mini-courses offered by Jan Kallsen
(Kiel), Ioannis Karatzas (New York), Nina Gantert (Munich) and Timo
Seppäläinen (Wisconsin) and talks offered by invited speakers. See
here for a complete list:
http://www.acmac.uoc.gr//SMFP2015/speakers.php
There will also be short talks and posters presented by
young researchers. The deadline for submissions has been extended to
*May 6, 2015*.
http://www.acmac.uoc.gr/SMFP2015/submissions.php
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien,
organisiert in Zusammenarbeit mit der Karl-Franzens-Universität Graz,
Institut Für Banken und Finanzierung, den
30. WORKSHOP der AWG
27./28. November 2015
First CALL for PAPERS
Der Workshop findet am Freitag, 27. November 2015 (Nachmittag) und am
Samstag, 28. November 2015 (Vormittag) an der Karl-Franzens-Universität
Graz statt.
Bezüglich der Themen gibt es keine Einschränkung.
Papers oder Extended Abstracts (ca. 2 Seiten) – vorzugsweise in englischer
Sprache – sind bis spätestens 15. Oktober 2015 per eMail einzureichen an:
awg30(a)uni-graz.at
Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, kann
jeder Vortrag durch eine/n Discussant besprochen werden. Teilnehmende, die
eine solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 1.
Oktober 2015 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.
Teilnehmende: Angesprochen sind sowohl der wissenschaftliche Nachwuchs
an allen österreichischen Universitäten und verwandten Institutionen der
Forschung als auch Praktiker/innen in Kreditinstituten und
Finanzabteilungen von Unternehmen.
Schwerpunkte: (Auszug) Asset Pricing – Banking – Behavioral
Economics – Central Banking and Regulation – Corporate Finance – Corporate
Governance - Derivatives – Empirical Finance – Experimental Finance –
Financial Econometrics – Financial Economics - Financial
Innovations – International Finance – Market Microstructure – Performance
Measurement – Portfolio Analysis – Real Estate Finance – Risk Management –
Security Analysis.
Die Teilnahme am Workshop ist KOSTENLOS.
In order to celebrate the completion of the second, fundamentally
revised edition of the book
Quantitative Risk Management: Concepts, Techniques, and Tools
by Alex McNeil, Rüdiger Frey and Paul Embrechts
there will be a book launch on *June 10, 2015, 15:30-18:30,* WU,
Executive Academy, Foyer. There will be talks by Alexander McNeil and
Paul Embrechts (Titles and abstracts tba.) and a presentation of the
book, followed by a reception. The event is free of charge, but we
kindly ask you to register to facilitate planning.
Further details under
http://www.wu.ac.at/statmath/detail-statmath/news/detail/News/quantitative-…
Hope to see you in June at WU
Rüdiger Frey
--
Prof. Ruediger Frey
Institute for Statistics and Mathematics
WU Vienna
Welthandelsplatz 1, Building D4
A-1020 Vienna, Austria
email: ruediger.frey(a)wu.ac.at
web: http://statmath.wu.ac.at/~frey/
Dear all,
We are glad to announce the 8th European Summer School in Mathematical
Finance, which will be held at Université du Maine in the city of Le
Mans, close to Paris, from August 31st to September 4th 2015.
Main course lectures will be on: Systemic Risk and financial Contagion,
Machine Learning and big data analysis, Hawkes processes in finance.
We invite applications from PhD students and early career researchers.
Grants coverign accommodation and travel expenses will be provided to
selected students.
Please visit the web page of the summer school for more information:
http://www.cmap.polytechnique.fr/~euroschoolmathfi15/euroschoolmathfi15.html
Deadline for applications is April 15h. Please apply online following
the instructions on the web page.
We count on your participation to make this eight summer school a
success, just as the previous editions have been!
Please feel free to circulate this announcement.
With our best regards,
The organising committee
Bruno Bouchard, Stefano De Marco, Laurent Denis, Emmanuel Gobet, Anis
Matoussi, Nizar Touzi
Dear colleagues,
we are pleased to announce a conference on
"Advanced Modelling in Mathematical Finance"
in honour of Ernst Eberlein, taking place in
Kiel from May 20 to 22, 2015.
Details on invited speakers, registration etc. can be
found on www.math.uni-kiel.de/ammf2015 .
Limited financial support is available for young
researchers presenting a poster.
Best regards,
Jan Kallsen and Antonis Papapantoleon
Einladung
Buchpräsentation und Diskussion mit
HANS-WERNER SINN und EWALD NOWOTNY
Di, 13. Jänner 18:00 im Festsaal der ÖAW
1010 Wien, Dr. Ignaz Seipel-Platz 2
Um Anmeldung wird gebeten: event(a)oeaw.ac.at
PROGRAMM
Begrüßung: ANTON ZEILINGER, Präsident der Österreichischen Akademie der Wissenschaften
Einleitung und Moderation: JOSEF ZECHNER, WU Wirtschaftsuniversität Wien und ÖAW
Impulsreferat: HANS-WERNER SINN, Präsident des ifo Instituts München und ÖAW
Diskussionsbeitrag: EWALD NOWOTNY, Gouverneur der Oesterreichischen Nationalbank
Podiumsdiskussion
Allgemeine Diskussion
In seinem jüngsten Werk „The Euro Trap. On Bursting Bubbles, Budgets and Beliefs“ (Oxford University Press, 2014) analysiert der Präsident des Münchner ifo, HANS-WERNER SINN, die Grundlagen der gemeinsamen europäischen Währung. Auf Basis des umfangreichen Materials weist er auf fundamentale Schwächen der Währungskonstruktion hin, kritisiert Rolle und Rettungsmaßnahmen der EZB in der Währungskrise und kommt zu im Sinne des Wortes radikalen Lösungsansätzen.
EWALD NOWOTNY, Gouverneur der Oesterreichischen Nationalbank und Mitglied des Gouverneursrates der EZB, hat sich seit Jahren als Wissenschaftler und Notenbanker mit der europäischen Geldpolitik auseinandergesetzt. Er sieht den Euro als wichtiges Element der europäischen Integration, als Schutzschirm in weltwirtschaftlichen Krisen und als Beitrag zu langfristig größerer wirtschaftlicher Dynamik in Europa.
Dear All,
You are invited to submit papers for the 3rd World Risk and Insurance Economics Congress (WRIEC) to be held at Ludwig-Maximilians-Universität München from August 2 to 6, 2015. The deadline for paper submission is February 2.
To access the Call for Papers, please click here: http://www.wriec.net/call-for-papers/.
Further information can be found on the conference homepage: http://www.wriec.net/.
Should you have any questions, do not hesitate to contact me.
Best regards,
Richard Peter
Jun.-Prof. Dr. Richard Peter, MBR
Munich Risk and Insurance Center (MRIC)
Ludwig-Maximilians-Universität Munich
Tel +49 (0)89 2180 3882
Fax +49 (0)89 2180 99 3882
eMail peter(a)bwl.lmu.de<mailto:peter@bwl.lmu.de>
WWW www.inriver.bwl.lmu.de<http://www.inriver.bwl.lmu.de/>
Dear colleague,
I am pleased to announce the 8th WU Gutmann Center Symposium on "Retirement
and Asset Management" to be held at WU Vienna on August 19, 2015. Please find
the Call for Papers below and here:
http://www.wu.ac.at/gc/whatwedo/bridging/symposia/2015/callforpapers2015.pdf
It would be great if you submit a paper to the Symposium (in case you do
research in this area) and/or forward the Call for Papers to colleagues who
you feel would be interested in submitting a paper.
Many thanks and best regards from Vienna,
Alois
------------------------------------------------
Department of Finance, Accounting and Statistics
WU (Vienna University of Economics and Business)
www.wu.ac.at/~geyer
------------------------------------------------
CALL FOR PAPERS / CONFERENCE ANNOUNCEMENT
WU GUTMANN CENTER SYMPOSIUM 2015
RETIREMENT AND ASSET MANAGEMENT
VIENNA AUGUST 19, 2015
The WU Gutmann Center for Portfolio Management is proud to announce its eighth
symposium to be held at WU (Vienna University of Economics and Business), Austria. The
general topic of the symposium is "Retirement and Asset Management". Papers submitted to the
symposium can address related aspects such as the role of financial institutions, lifetime
investment strategies, saving for future generations, the role of demographics, or financial
literacy, provided they are sufficiently related to the general topic.
Note that the WU Gutmann Center Symposium 2015 will take place on the day before the
42nd Annual Meeting of the European Finance Association (EFA) (www.efa2015.org). Both
conferences will take place on the new WU Campus (www.wu.ac.at/campus/en). The EFA
Annual Meeting opens on August 19 in the evening, after the symposium has been
concluded.
PAPER SUBMISSIONS:
The deadline for paper submissions is March 11, 2015 at midnight CET Central European
Time (Austrian time). After this date, the submission system will be disabled automatically.
Before clicking the link below to enter the online submission system (ConfTool), please
prepare an anonymous version of your paper (i.e. remove all identifying information). You
can upload your paper after creating a ConfTool account. The paper must be in either
Acrobat (*.pdf) or Microsoft Word 2010, 2011 or 2013 (*.docx) format.
Please note that the ConfTool database for the symposium is separate from the one for the
EFA. Therefore you must create a separate account for this submission (although you may
use the same username/password as on the EFA site, if you wish).
Link to paper submissions: https://www.conftool.com/WUGCS2015/
All submissions will be reviewed by a committee composed of members of the WU Gutmann
Center's Academic Advisory Board and decisions will be announced by May 15, 2015.
Submission and participation are free of charge. Accommodation and travel expenses
(economy fare) of presenting authors will be covered by the WU Gutmann Center.
CONTACT
WU Gutmann Center for Portfolio Management
Sabina Krickl
WU (Vienna University of Economics and Business)
Welthandelsplatz 1, 1020 Wien (Vienna), Austria
gutmann-center(a)wu.ac.at
http://www.gutmann-center.at/
---------- Forwarded message ----------
Date: Thu, 27 Nov 2014 15:49:34 +0100
From: summerschoolmathfi <summerschoolmathfi(a)cmap.polytechnique.fr>
Subject: Conference: Challenges in Derivatives Markets
(...)
================================
Conference at TUM (March 30 -- April 01, 2015): Challenges in
Derivatives Markets: Fixed income modeling, valuation adjustments,
risk management, and regulation
================================
Dear colleagues,
it is our pleasure to announce the conference “Challenges in
Derivatives Markets: Fixed income modeling, valuation adjustments,
risk management, and regulation”, for which we would like to invite
you as contributed speaker or visitor. The conference will take place
at Technische Universität München, March 30 – April 01, 2015.
Thanks to our generous sponsor KPMG, the registration fee for the
3-day event is only 155 Euro.
We are especially proud having
· Damiano Brigo,
· Stéphane Crépey,
· Ernst Eberlein,
· John Hull,
· Wolfgang Runggaldier,
· Luis Seco,
· Thorsten Schmidt, and
· Wim Schoutens
among the confirmed speakers. So we are looking forward to an
extraordinary scientific event to which we hope you will contribute
with your presentation/attendance.
The aim of the conference is to provide a venue for practitioners and
academics working with derivatives to present state-of-the-art
research, exchange ideas, and share visions on future developments in
the field. The first focal point of the conference will be on recent
developments in interest-rate modeling and derivatives pricing.
Various types of multi-curve term structure models and especially
post-crisis extensions of the Libor market model will be discussed.
The second focus will be put on counterparty and liquidity risk in a
global derivatives market. Derivative valuation and risk management in
the presence of collateral and liquidity issues will be the central
topics with special regard to valuation adjustments such as CVA
(credit valuation adjustment), DVA (debt valuation adjustment), FVA
(funding valuation adjustment), and other XVAs as well as their
interplay. Emphasis will be put on modeling and pricing, as well as
risk management and regulatory aspects. More information is given on
the website
http://www.mathfinance.ma.tum.de/kpmgce/conference-challenges-in-derivative…
To facilitate the organization of the event, your registration by
December 20, 2014 is highly appreciated. If you are interested in
providing a contributed talk (these will most likely take place on
Wednesday, April 01, 2015), please provide us an abstract/paper of
your presentation.
***
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
************************************************************************
Date: November 12 (Wednesday), 2014, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Amit Goyal, http://www.hec.unil.ch/agoyal/
Title: Is the Cross-Section of Expected Bond Returns Influenced by Equity Return
Predictors?
ABSTRACT:
Using a comprehensive cross-section and time-series of corporate bond returns assembled
from multiple data sources, we analyze whether commonly analyzed equity return predictors
also predict bond returns. There is a surprisingly strong monthly lead from equity to bond
returns, indicating that new information gets reflected in the equity market first. In
univariate portfolio sorts, net equity issues are positively priced in the bond market,
consistent with the notion that equity is preferred when bond market is undervalued.
Profitability is negatively priced while idiosyncratic equity volatility is positively priced in the
corporate bond market, suggesting that profitable and relatively less volatile firms are more
attractive to bond investors, thus requiring lower returns. Our results indicate that the bond
markets do price risk, but also are susceptible to delayed information transmission relative
to equities. Finally, consistent with a relatively sophisticated institutional clientele, bonds
are efficiently priced in that none of the behaviorally-motivated variables predict returns
after accounting for transactions costs, though some risk-based variables continue to do so.
About Amit Goyal:
Amit Goyal is professor of finance at the University of Lausanne where he holds a senior
chair from the Swiss Finance Institute. Formerly on the faculty of the Goizueta Business
School at Emory University (USA), he has a Ph.D. in Finance from the University of California
at Los Angeles (USA). His research interests are in empirical asset pricing and pension funds.
His papers have been published in a variety of academic journals including the Journal of
Finance, the Journal of Financial Economics, and the Review of Financial Studies. He is the
co-editor of Journal of Financial Markets and an associate editor at the Review of Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
Dear colleagues,
I'm very glad to inform you about the first version of the program for the 29th workshop of the AUSTRIAN WORKING GROUP ON BANKING & FINANCE, November 21st until 22nd at WU Wien.
For details please go to http://www.wu.ac.at/finance/events/awg2014_program.
Presenters and discussants will follow the following time schedules:
Presentations with discussion
Presentation: 20 minutes
Discussion: 10 minutes
Questions from the audience: 5 minutes
Presentations without discussion
Presentation: 20 minutes
Questions from the audience: 10 minutes
To guarantee a perfect and smooth run auf our workshop I kindly ask you to register for the workshop and the conference dinner as well http://www.wu.ac.at/finance/events/registration_awg.
Please don't hesitate to contact us for any further questions.
I am looking forward to an inspiring workshop!
With kind regards, Stefan Bogner
----------------------------------------------
Dr. Stefan Bogner, Professor
Vorstand, Department für Finance, Accounting and Statistics
Head, Department of Finance, Accounting and Statistics
WU
Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Welthandelsplatz 1, Building D4, level 4, 1020 Vienna, Austria
[T] +43 1 31336/4242
[F] +43 1 31336/904242
[E] stefan.bogner(a)wu.ac.at<mailto:stefan.bogner@wu-wien.ac.at>
Investment Seminar
INSTITUTIONELLES ASSET MANAGEMENT IM NIEDRIGZINSUMFELD
Montag, 10. November 2014
14.00 Begrüßung: Josef ZECHNER, Professor an der WU Wien
14.15 Makroökonomische und Regulatorische Rahmenbedingungen* (Session 1)
Moderation: Josef ZECHNER
14.15 Bernhard FELDERER
Präsident des Fiskalrates und ehem. Direktor des Instituts für Höhere Studien, Wien
Aktueller Wirtschaftsausblick
14.45 Oskar ULREICH
Abteilungsleiter, Vor-Ort-Prüfung und interne Modelle von Versicherungsunternehmen und Pensionskassen, Finanzmarktaufsicht (FMA), Wien
Markt und Aufsicht(en): Regulatorische Herausforderungen für institutionelle Investoren
15.15 Diskussion
15.30 Pause
16.00 Investment Strategies in low interest environments (Session 2)
Moderation: Thomas DANGL, Professor an der TU Wien
16.00 Raman UPPAL, Professor an der EDHEC Business School, London
Risk-minimizing equity strategies
16.30 Engelbert DOCKNER, Professor an der WU Wien
Bond strategies in a low interest environment
17.00 Institutionelles Asset Management im Niedrigzinsumfeld* (Panel Discussion)
Moderation: Josef ZECHNER
Diskussionsteilnehmer:
Andreas GRÜNBICHLER, CFO, Mitglied des Vorstandes der Bausparkasse Wüstenrot AG und Wüstenrot Versicherungs-AG
Dieter LEHMANN, Leiter Vermögensverwaltung, VolkswagenStiftung, Hannover
Andreas KRETSCHMER, Hauptgeschäftsführer, Ärzteversorgung Westfalen-Lippe
Wir bitten Sie um Anmeldung bis 3. November unter si-researchcenter(a)wu.ac.at
Veranstaltungsort: WU, Gebäude LC, Festsaal 2 (http://gis.wu.ac.at/index.html?roomShow=festsaal%202)
Welthandelsplatz 1, 1020 Wien
Kontakt und weitere Information:
WU, Department of Finance, Accounting and Statistics
Spängler IQAM Research Center, Martina Schlichting
Welthandelsplatz 1, Gebäude D4, 4. Stock, 1020 Wien
Telefon: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at, Web: www.si-researchcenter.at
| Call for papers
|
| 8th Financial Risks International Forum -
| Scenarios, Stress and Forecasts in Finance
|
| Paris, March 30 & 31, 2015
The Financial Risks International Forum on "Scenarios, Stress and
Forecasts in Finance" is an International Research Forum for academics
and professionals organized by The Louis Bachelier "Finance and
Sustainable Growth" Laboratory.
See http://www.financialrisksforum.com/risk2015/ for details.
A complete paper in PDF format must be submitted electronically by
December 1, 2014.
***
Bitte beachten Sie den unten stehenden Call for Papers (Deadline - 03. Oktober 2014)
DEPARTMENT OF FINANCE, ACCOUNTING AND STATISTICS
29. WORKSHOP - AUSTRIAN WORKING GROUP ON BANKING & FINANCE
21. und 22. November 2014, Wien
CALL for PAPERS
Der Workshop findet am Freitag, 21. November 2014, nachmittags, und am Samstag, 22. November 2014, vormittags, an der WU Wien statt.
Bezüglich der Themen gibt es keine Einschränkung. Papers oder Extended Abstracts (ca. zwei Seiten) - vorzugsweise in englischer Sprache - können bis spätestens 3. Oktober 2014 bei Prof. Dr. Stefan Bogner, Department of Finance, Accounting and Statistics, WU Wien, Welthandelsplatz 1, 1020 Wien oder e-mail: stefan.bogner(a)wu.ac.at eingereicht werden. Das Programm wird am 20. Oktober 2014 bekanntgemacht.
Um den Workshop-Charakter der Veranstaltung zu fördern, soll jeder Vortrag durch einen Discussant besprochen wird. Das Finden geeigneter Discussants liegt in der Verantwortung von Prof. Bogner sowie den jeweiligen Session Chairs.
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 - (Auswahl) Intermediaries - 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.
http://www.wu.ac.at/finance/events/awg2014
**************************************************************************************************
Please note the Call for Papers below (Deadline October 3rd, 2014)
DEPARTMENT OF FINANCE, ACCOUNTING AND STATISTICS
29. WORKSHOP - AUSTRIAN WORKING GROUP ON BANKING & FINANCE
21. and 22. November 2014, Vienna
CALL for PAPERS
The workshop will take place November 21, 2014 (afternoon) und November 22, 2014 (morning) at WU Wien.
Full papers or detailed abstracts in all areas of banking and finance are welcome and have to be submitted by October 3rd , 2014 to Prof. Stefan Bogner, Department of Finance, Accounting and Statistics, WU Wien, Welthandelsplatz 1, 1020 Wien or via e-mail: stefan.bogner(a)wu.ac.at<mailto:stefan.bogner@wu.ac.at>.
Notification of acceptance: October 20, 2014.
Every paper presentation will be supported by a prepared discussion. The assignment of discussants is the responsibility of Prof. Bogner and the respective session chair.
AUSTRIAN WORKING GROUP ON BANKING AND FINANCE
The aim of the Austrian Working Group on Banking and Finance is to generate a discussion forum for theoretical and empirical research in all areas of banking and finance throughout Austria. All researchers (especially also junior researchers) at universities and other research institutions as well as practitioners of the financial industry (including finance departments of industrial and service companies) are highly welcome to submit and present their research. Junior researchers are, e.g. encouraged to present one of their PhD Thesis papers/projects.
Jointly Organized by WU Wien, Department of Finance, Accounting and Statistics, Institute for Finance, Banking and Insurance, Vienna, Austria and Austrian Society for Bank Research (BWG), Vienna, Austria
Topics can include but are not limited to:
Arbitrage Pricing, Behavioral Finance, Capital Market Theory, Capital Requirements of Financial Institutions, Commercial Banking, Contingent Claims Analysis, Corporate Finance, Financial Innovations, Financial Markets Research, Intermediaries, International Banking and Finance, Investment Banking, Options and Futures, Performance Measurement, Portfolio Management, Risk Management, Security Analysis.
http://www.wu.ac.at/finance/en/events/awg2014
Dr. Stefan Bogner, Professor
Vorstand, Department für Finance, Accounting and Statistics
Head, Department of Finance, Accounting and Statistics
WU
Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Welthandelsplatz 1, Building D4, level 4, 1020 Vienna, Austria
[T] +43 1 31336/4242
[F] +43 1 31336/904242
[E] stefan.bogner(a)wu.ac.at<mailto:stefan.bogner@wu-wien.ac.at>
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
************************************************************************
Date: September 30 (Tuesday), 2014, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Rob Bauer, http://www.maastrichtuniversity.nl/web/Profile/r.Bauer.htm
Title: Responsible Investing: Risk, Opportunity or Distraction? Implications for Institutional
and Private Investors
ABSTRACT:
Responsible Investing (RI) is gaining momentum both in institutional and private asset
management. This lecture will discuss several RI strategies, its potential risk and return
consequences, for a variety of asset classes, and from an institutional investor and a private
investor perspective.
About Rob Bauer:
Rob Bauer is Professor of Finance (chair: Institutional Investors) at Maastricht University
School of Business and Economics in The Netherlands. His academic research is focused on
pension funds, strategic investment policy, mutual fund performance, responsible investing,
shareholder activism and corporate governance. He publishes regularly in professional and
academic journals and is a frequent speaker on national and international conferences. Rob
Bauer is also Director of the European Centre for Corporate Engagement (ECCE) at
Maastricht University, and Executive Director of the International Centre for Pension
Management (ICPM), at the Rotman School of Management, University of Toronto in Canada.
Rob Bauer is also founder and managing director of Rob Bauer Consultants in which he
advises and supports institutional investors on topics related to strategic investments.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
Bitte beachten Sie den unten stehenden Call for Papers (Deadline - 22. September 2014)
DEPARTMENT OF FINANCE, ACCOUNTING AND STATISTICS
29. WORKSHOP - AUSTRIAN WORKING GROUP ON BANKING & FINANCE
21. und 22. November 2014, Wien
CALL for PAPERS
Der Workshop findet am Freitag, 21. November 2014, nachmittags, und am Samstag, 22. November 2014, vormittags, an der WU Wien statt.
Bezüglich der Themen gibt es keine Einschränkung. Papers oder Extended Abstracts (ca. zwei Seiten) - vorzugsweise in englischer Sprache - können bis spätestens 22. September 2014 bei Prof. Dr. Stefan Bogner, Department of Finance, Accounting and Statistics, WU Wien, Welthandelsplatz 1, 1020 Wien oder e-mail: stefan.bogner(a)wu.ac.at eingereicht werden. Das Programm wird am 20. Oktober 2014 bekanntgemacht.
Um den Workshop-Charakter der Veranstaltung zu fördern, soll jeder Vortrag durch einen Discussant besprochen wird. Das Finden geeigneter Discussants liegt in der Verantwortung von Prof. Bogner sowie den jeweiligen Session Chairs.
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 - (Auswahl) Intermediaries - 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.
Daniela Fuchs
_______________________________________________________
Office FAS (D4)
Department of Finance, Accounting and Statistics
WU Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Welthandelsplatz 1, Building D4, Entrance A, 4th floor, 1020 Vienna, Austria
[T] +43 1 31336/4691
[F] +43 1 31336/904691
[E] daniela.fuchs(a)wu.ac.at<mailto:daniela.fuchs@wu.ac.at>
www.wu.ac.at/finance<http://www.wu.ac.at/finance>
---------- Forwarded message ----------
Date: Wed, 13 Aug 2014 09:34:10 +0100 (BST)
From: Xun Yu Zhou <Xun.Zhou(a)maths.ox.ac.uk>
[third party addresses removed by VFN list-admin]
Subject: Nomura Research Fellow at Oxford
Dear colleagues
The Mathematical and Computational Finance Group at Oxford is recruiting a
Nomura Research Fellow. The details can be found at
http://www.maths.ox.ac.uk/node/26208https://www.recruit.ox.ac.uk/pls/hrisliverecruit/erq_jobspec_version_4.jobs…
Please feel free to forward it to anyone who might be interested.
Many thanks indeed.
Regards
Xunyu Zhou
--
Xunyu Zhou
Nomura Professor of Mathematical Finance
Director, Nomura Centre for Mathematical Finance
Mathematical Institute
University of Oxford
Radcliffe Observatory Quarter
Woodstock Road
OX2 6GG Oxford, UK
Email: zhouxy(a)maths.ox.ac.uk
Tel.: +44 1865 280614
Fax: +44 1865 270715
http://people.maths.ox.ac.uk/~zhouxy/
---------- Forwarded message ----------
Date: Fri, 18 Jul 2014 08:43:18 +0200 (CEST)
From: Elyès Jouini <info(a)europlace-finance.com>
To: "vfn-l(a)fam.tuwien.ac.at" <vfn-l(a)fam.tuwien.ac.at>
Subject: Call for research projects_Europlace Institute of Finance_Deadline:
September 10, 2014
[HTML converted to plain text, attachment removed by VFN admin]
EUROPLACE INSTITUTE OF FINANCE
CALL FOR RESEARCH PROJECTS 2014
The Europlace Institute of Finance, a registered Foundation of public
interest, aims to foster synergies between academia in finance and
economics and financial industry professionals (financial
intermediaries, investors and managers, issuers and companies involved
in the financial markets) - in France and in Europe. The Institute's
founders are committed to developing and sustaining such initiatives.
As in previous years, our Foundation is launching a renewed call for
research projects in 2014. This call for projects is intended for all
members of the academic community concerned by financial research,
with no restrictions as to academic disciplines.
In partnership with the Louis Bachelier Laboratory of Excellence, the
Europlace Institute of Finance will fund 15 research projects, each of
which will receive an amount of €10,000.
Selected projects will focus on issues considered to be of major
importance in the current context. These issues are organized around
four themes:
Macroeconomics
Management techniques and modeling
Risks and regulation
Investment and investor behavior
Please see http://www.europlace-finance.net/call2014/Topics_2014.pdf
for a description of the subjects selected for 2014.
Particular attention will be paid to projects involving multiple
teams, and especially those involving European cooperation. The
deadline for submission is on September 10, 2014.
>> Click here to submit your project <<
http://www.europlace-finance.net/cgi-bin/call4prj/project?mode=62
I hope this program will be of great interest to you.
For more information: info(a)europlace-finance.com
Elyès Jouini
Scientific Director
Europlace Institute of Finance
MODUL University Vienna is an international private university owned by
the Vienna Chamber of Commerce and Industry, the largest provider of
private education in Austria. The university campus is located on
Kahlenberg, a scenic hill with a spectacular view of the capital of
Austria. Since 2007, MODUL University Vienna offers cutting-edge
education (BBA, BSc, MSc, MBA and PhD study programs) in the areas of
international management, new media technology, public governance,
sustainable development, and tourism and hospitality management.
Position Announcement - Assistant Professor
MODUL University Vienna is an international university located on top of
Kahlenberg with a panoramic view over the City of Vienna. The Department
of International Management is seeking an outstanding young scholar to
teach undergraduate and graduate courses www.modul.ac.at/study-programs.
The teaching load for this position is five weekly units per semester –
one unit equals 45 minutes in the class room.
*Responsibilities: *
·independent research**
·contributing to research and teaching within the scope of the
department and study program (BsC in International Management)**
·teaching and administrative tasks**
·assisting support activities**
·holding classes and conducting examinations independently**
*What we expect:*
·an outstanding average grade on your university degree and/ or
doctorate in business administration or a related field
·Advanced skills in quantitative research methods, f.e. econometric skills
·a very high standard of English (teaching experience in English is a plus)
·Advanced MS Office skills or equivalent
·Familiar with datasources as f.e. Bloomberg, Amadeus etc.
Salary and Application Process:
The position remains open until filled; the review of applications will
commence in September 2014.MU Vienna offers five-year contracts with the
option to renew after a performance evaluation. The initial salary is
EUR 55,000 before taxes, with additional remuneration for extra teaching
and outstanding scholarship. MU Vienna is an equal opportunity employer
and strongly encourages qualified women to apply. Please send your
application including cover letter, curriculum vitae, list of
publications and statement of research and teaching interest to
katrin.brueckner(at)modul.ac.at (in English; preferably as a single PDF
file not exceeding 8 MB).
link: http://modul.ac.at/uploads/files/user_upload/IM-Assistant_Prof.pdf
+------------------------------------
|
| 2nd European Actuarial Journal (EAJ) Conference
| Vienna, September 10-12, 2014
|
| EAJ Educational Workshop
| Vienna, September 8-9, 2014
|
| http://www.fam.tuwien.ac.at/eaj2014/
|
+-------------------------------------------------------------------
The 2nd European Actuarial Journal (EAJ) Conference (Vienna, September
10-12, 2014) is an international conference in actuarial science and
insurance mathematics. The aim is to bring together practicing actuaries
and academics to discuss about challenging and current topics in
actuarial science. We invite researchers and practitioners to join the
event in the heart of beautiful Austria.
The EAJ Educational Workshop (Vienna, September 8-9, 2014) is a
satellite event of the 2nd EAJ Conference, aimed at both academics and
practitioners and providing a general overview over the past and current
research results and their practical applications.
We are proud to announce to already have registrations from the
following countries:
Algeria - Argentina - Australia - Austria - Belgium - Brazil - China -
Colombia - Denmark - Finland - France - Germany - Greece - Iceland -
Iran - Israel - Italy - Latvia - Netherlands - Norway - Portugal -
Russia - Singapore - Slovenia - Spain - Sweden - Switzerland - Taiwan -
Turkey - Ukraine - United Kingdom - USA
With best regards from the organisers,
Actuarial Association of Austria
Vienna University of Technology
For early registrations until July 25, a discount of 10% is allowed.
Details and Registration for EAJ 2014: http://fam.tuwien.ac.at/eaj2014/
--------------------------------------------------------------------
2nd EAJ Conference 2014
Wednesday, September 10 - Friday, September 12, 2014
EAJ Educational Workshop
Monday, September 8 - Tuesday, September 9, 2014
Website:
http://www.fam.tuwien.ac.at/eaj2014/
Location:
Vienna University of Technology
Wiedner Hauptstr. 8, 1040 Wien, Austria
Organized by:
Actuarial Association of Austria
Vienna University of Technology
Sponsored by (alphabetical order):
arithmetica
Drei-Banken Versicherung
fintegral consulting
Gen Re - General Reinsurance
HDI Versicherung
Milliman
Munich RE - Münchener Rückversicherungs-Gesellschaft
Sparkassen Versicherung - Vienna Insurance Group
Springer-Verlag
http://www.fam.tuwien.ac.at/eaj2014/sponsors.php
Invited Speakers and Talks...
... at the EAJ Conference:
Hansjörg Albrecher (University of Lausanne, CH)
Francesca Biagini (LMU Munich, DE)
Andrew Cairns (Heriot-Watt University, Edinburgh, UK)
Alexander Dotterweich (KPMG, Munich, DE)
Hansjörg Furrer (Swiss Financial Market Supervisory Authority, CH)
Stefan Jaschke (Munich Re, DE)
Claus Mischler (Standard Life, Frankfurt, DE)
Ragnar Norberg (ISFA, Universite Lyon 1, FR)
Daniel Ryan (Swiss Re, London, UK)
Michael Schlögl (Vienna Insurance Group, AT)
Hanspeter Schmidli (University of Cologne, DE)
Mogens Steffensen (University of Copenhagen, DK)
Nele Vandaele (KBC Group, Brussels, BE)
... at the EAJ Educational Workshop:
Carole Bernard (University of Waterloo, CA)
Enrico Biffis (Imperial College Business School, London, UK)
Claudia Czado (Technische Universität München, DE)
Stéphane Loisel (ISFA, Université Lyon 1, FR)
Alfred Müller (University of Siegen, DE)
http://www.fam.tuwien.ac.at/eaj2014/speakers.php
Submission of Contributed Talks & Posters:
The call for posters is open until July 31, 2014.
Submissions of contributed talks is already closed.
http://www.fam.tuwien.ac.at/eaj2014/contributions.php
Participation and Registration:
Registration is possible until August 15, 2014.
For early registrations until July 25, 2014, a discount
of 10% is allowed.
http://www.fam.tuwien.ac.at/eaj2014/registration.php
CPD:
The attendance at EAJ 2014 (full week, Sept. 8-12) may qualify
for up to 29 CPD credits for those delegates whose national
actuarial organization's CPD requirements recognize EAJ 2014.
The EAJ Educational Workshop (Sept. 8-9, 1014) may qualify for up
to 13 CPD credits and the EAJ Conference (Sept. 10-12, 1014)
may qualify for up to 16 CPD credits. See details on:
http://www.fam.tuwien.ac.at/eaj2014/cpd.php
*EINLADUNG*
**
Sehr geehrte Damen und Herren,
ganz herzlich möchten wir Sie auf diesem Weg zu folgender Ausgabe der
Podiumsdiskussionsreihe "Kahlenberger Gespräche" einladen:
*"Impact Investment - ein MUSS für jeden Investor"***Wann:
*Donnerstag**, 12. Juni 2014, 18:30 Uhr*
**Wo: *MODUL University Vienna, Am Kahlenberg 1, 1190 Wien*
**
*Moderation*: Franz Schellhorn, Leiter der Denkfabrik Agenda Austria
*Keynote: *Karl (Charly) Kleissner, Social Impact Investor, Philosoph
und Millionär
Bitte entnehmen Sie nachfolgendem Link detaillierte Informationen zur
Veranstaltung:
*http://www.modulcareer.at/newsevents/kahlenberger-gespraeche/impact-investment.html*
**
Wir bitte um Ihre Anmeldung per E-mail an *ana.todorovic(a)modul.ac.at*
bis 10. Juni 2014.
Wir freuen uns auf Ihr Kommen!
*Hani El-Sharkawi*Leiter MODUL Career
*MODUL University Vienna*Am Kahlenberg 1, 1190 Wien, Austriawww.modul.ac.at
MODUL University Vienna GmbH,HG Wien, FN 277162t, ATU 62643214
--
------------------------------------------------------------------------
*Dr. Margarethe Rammerstorfer *
Associate Professor for Finance
Head of Department
Department of International Management
Program Area Director International Management
*MODUL University Vienna*
Am Kahlenberg 1, 1190 Wien, Austria
T: +43 (1) 3203555 650
F: +43 (1) 3203555 903
margarethe.rammerstorfer(a)modul.ac.at
<mailto:%0A%0Amargarethe.rammerstorfer@modul.ac.at>
www.modul.ac.at
+-----------------------------------------------
|
| 2nd European Actuarial Journal (EAJ)
| Conference & Educational Workshop
|
| Vienna, September 8-12, 2014
|
| http://www.fam.tuwien.ac.at/eaj2014/
|
+----------------------------------------------------------------------
The 2nd European Actuarial Journal (EAJ) Conference (Vienna, September
10-12, 2014) is an international conference in actuarial science and
insurance mathematics. The aim is to bring together practicing actuaries
and academics to discuss about challenging and current topics in
actuarial science. We invite researchers and practitioners to present
their scientific work - the call for contributed talks and posters is
open until June 15, 2014.
The EAJ Educational Workshop (Vienna, September 8-9, 2014) is a
satellite event of the 2nd EAJ Conference, aimed at both academics and
practitioners and providing a general overview over the past and current
research results and their practical applications.
Details and Registration for EAJ 2014: http://fam.tuwien.ac.at/eaj2014/.
-----------------------------------------------------------------------
EAJ Conference 2014
Wednesday, September 10 - Friday, September 12, 2014
EAJ Educational Workshop
Monday, September 8 - Tuesday, September 9, 2014
Conference Website:
http://www.fam.tuwien.ac.at/eaj2014/
Location:
Vienna University of Technology
Wiedner Hauptstr. 8, 1040 Wien, Austria
Organized by:
Actuarial Association of Austria
Vienna University of Technology
Sponsored by (alphabetical order):
arithmetica
Drei-Banken Versicherung
fintegral consulting
HDI Versicherung
Milliman
Munich RE - Münchener Rückversicherungs-Gesellschaft
Sparkassen Versicherung - Vienna Insurance Group
Gen Re - General Reinsurance
Springer-Verlag
(further sponsors are welcome)
http://www.fam.tuwien.ac.at/eaj2014/sponsors.php
Invited Speakers and Talks...
... at the EAJ Conference:
Hansjörg Albrecher (University of Lausanne, CH)
Francesca Biagini (LMU Munich, DE)
Andrew Cairns (Heriot-Watt University, Edinburgh, UK)
Alexander Dotterweich (KPMG, Munich, DE)
Hansjörg Furrer (Swiss Financial Market Supervisory Authority, CH)
Stefan Jaschke (Munich Re, DE)
Claus Mischler (Standard Life, Frankfurt, DE)
Ragnar Norberg (ISFA, Universite Lyon 1, FR)
Daniel Ryan (Swiss Re, London, UK)
Michael Schlögl (Vienna Insurance Group, AT)
Hanspeter Schmidli (University of Cologne, DE)
Mogens Steffensen (University of Copenhagen, DK)
Nele Vandaele (KBC Group, Brussels, BE)
... at the EAJ Educational Workshop:
Carole Bernard (University of Waterloo, CA)
Enrico Biffis (Imperial College Business School, London, UK)
Claudia Czado (Technische Universität München, DE)
Stéphane Loisel (ISFA, Université Lyon 1, FR)
Alfred Müller (University of Siegen, DE)
http://www.fam.tuwien.ac.at/eaj2014/speakers.php
Submission of Contributed Talks & Posters:
The call for contributed talks & posters is open until June 15, 2014.
Acceptance/rejection letters will be sent by July 7 at the latest.
http://www.fam.tuwien.ac.at/eaj2014/contributions.php
Participation and Registration:
Registration is possible until August 15, 2014.
For early registrations until July 15, 2014, a discount
of 10% is allowed.
http://www.fam.tuwien.ac.at/eaj2014/registration.php
CPD:
The attendance at EAJ 2014 (full week, Sept. 8-12) may qualify
for up to 29 CPD credits for those delegates whose national
actuarial organization's CPD requirements recognize EAJ 2014.
The EAJ Educational Workshop (Sept. 8-9, 1014) may qualify for up
to 13 CPD credits and the EAJ Conference (Sept. 10-12, 1014)
may qualify for up to 16 CPD credits. See details on:
http://www.fam.tuwien.ac.at/eaj2014/cpd.php
INVITATION
(apologies for duplicated mails!)
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public.
INVESTMENT TALK
Date: Monday, June 2nd, 2014 at 4:30 pm
Speaker: PROF. MALCOLM P. BAKER
Topic: "THE LOW RISK ANOMALY: IMPLICATIONS FOR INVESTMENT, ASSET ALLOCATION, AND CORPORATE FINANCE"
ABSTRACT:
One of the basic principles of finance is that, in competitive and efficient markets, investors earn higher average returns only by taking greater risks. Asset classes follow this pattern: Stocks have returned more than bonds, and bonds have returned more than cash. But, within the stock market, the pattern is reversed. Low risk stocks, whether measured by volatility or market beta, have outperformed high risk stocks on average in eighty years of U.S. stock market history and in thirty years of international data. Drawing on his research, Professor Baker will describe the behavioral and institutional explanations for this anomaly and discuss the potential implications for investment, asset allocation, and corporate finance.
ABOUT Malcolm P. Baker:
Prof. Malcolm P. Baker is the Robert G. Kirby Professor of Business Administration at the Harvard Business School and the program director for corporate finance at the National Bureau of Economic Research.
Further information about Malcolm P. Baker: http://www.hbs.edu/faculty/Pages/profile.aspx?facId=10639&facInfo=pub
REGISTRATION IS REQUIRED. We kindly ask to register before May 28th at si-researchcenter(a)wu.ac.at
LOCATION:
WU, Building AD
AD.O.114, Conference room 1
http://gis.wu.ac.at/index.html?roomShow=AD.0.114&setLng=en
Welthandelsplatz 1, 1020 Vienna
CONTACT AND FURTHER INFORMATION:
WU, Institute for Finance, Banking and Insurance
att. Martina Schlichting
Welthandelsplatz 1, Building D4, Level 4
1020 Vienna
Phone: +43 1 31336 6315
Mail: si-researchcenter(a)wu.ac.at, Web: www.si-researchcenter.at
DEPARTMENT OF FINANCE, ACCOUNTING AND STATISTICS
29. WORKSHOP - AUSTRIAN WORKING GROUP ON BANKING & FINANCE
21. und 22. November 2014, Wien
First CALL for PAPERS
Der Workshop findet am Freitag, 21. November 2014, nachmittags, und am Samstag, 22. November 2014, vormittags, an der WU Wien statt.
Bezüglich der Themen gibt es keine Einschränkung. Papers oder Extended Abstracts (ca. zwei Seiten) - vorzugsweise in englischer Sprache - können bis spätestens 22. September 2014 bei Prof. Dr. Stefan Bogner, Department of Finance, Accounting and Statistics, WU Wien, Welthandelsplatz 1, 1020 Wien oder e-mail: stefan.bogner(a)wu.ac.at eingereicht werden. Das Programm wird am 20. Oktober 2014 bekanntgemacht.
Um den Workshop-Charakter der Veranstaltung zu fördern, soll jeder Vortrag durch einen Discussant besprochen wird. Das Finden geeigneter Discussants liegt in der Verantwortung von Prof. Bogner sowie den jeweiligen Session Chairs.
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 - (Auswahl) Intermediaries - 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.
**************************************************************************************************
DEPARTMENT OF FINANCE, ACCOUNTING AND STATISTICS
29. WORKSHOP - AUSTRIAN WORKING GROUP ON BANKING & FINANCE
21. and 22. November 2014, Vienna
First CALL for PAPERS
The workshop will take place November 21, 2014 (afternoon) und November 22, 2014 (morning) at WU Wien.
Full papers or detailed abstracts in all areas of banking and finance are welcome and have to be submitted by September 22, 2014 to Prof. Stefan Bogner, Department of Finance, Accounting and Statistics, WU Wien, Welthandelsplatz 1, 1020 Wien or via e-mail: stefan.bogner(a)wu.ac.at<mailto:stefan.bogner@wu.ac.at>.
Notification of acceptance: October, 20, 2014.
Every paper presentation will be supported by a prepared discussion. The assignment of discussants is the responsibility of Prof. Bogner and the respective session chair.
AUSTRIAN WORKING GROUP ON BANKING AND FINANCE
The aim of the Austrian Working Group on Banking and Finance is to generate a discussion forum for theoretical and empirical research in all areas of banking and finance throughout Austria. All researchers (especially also junior researchers) at universities and other research institutions as well as practitioners of the financial industry (including finance departments of industrial and service companies) are highly welcome to submit and present their research. Junior researchers are, e.g. encouraged to present one of their PhD Thesis papers/projects.
Jointly Organized by WU Wien, Department of Finance, Accounting and Statistics, Institute for Finance, Banking and Insurance, Vienna, Austria and Austrian Society for Bank Research (BWG), Vienna, Austria
Topics can include but are not limited to:
Arbitrage Pricing, Behavioral Finance, Capital Market Theory, Capital Requirements of Financial Institutions, Commercial Banking, Contingent Claims Analysis, Corporate Finance, Financial Innovations, Financial Markets Research, Intermediaries, International Banking and Finance, Investment Banking, Options and Futures, Performance Measurement, Portfolio Management, Risk Management, Security Analysis.
INVITATION
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public.
INVESTMENT TALK
DATE: Monday, June 2nd, 2014 at 4:30 pm
SPEAKER: Prof. MALCOLM P. BAKER
TOPIC: "The Low Risk Anomaly: Implications for Investment, Asset Allocation, and Corporate Finance"
ABSTRACT:
One of the basic principles of finance is that, in competitive and efficient markets, investors earn higher average returns only by taking greater risks. Asset classes follow this pattern: Stocks have returned more than bonds, and bonds have returned more than cash. But, within the stock market, the pattern is reversed. Low risk stocks, whether measured by volatility or market beta, have outperformed high risk stocks on average in eighty years of U.S. stock market history and in thirty years of international data. Drawing on his research, Professor Baker will describe the behavioral and institutional explanations for this anomaly and discuss the potential implications for investment, asset allocation, and corporate finance.
ABOUT Malcolm P. Baker:
Prof. Malcolm P. Baker is the Robert G. Kirby Professor of Business Administration at the Harvard Business School and the program director for corporate finance at the National Bureau of Economic Research.
Further information about Malcolm P. Baker: http://www.hbs.edu/faculty/Pages/profile.aspx?facId=10639&facInfo=pub
Registration is required. We kindly ask to register before May 28th at office(a)si-researchcenter.at
Location:
WU, Building AD
AD.O.114, Conference room 1
http://gis.wu.ac.at/index.html?roomShow=AD.0.114&setLng=en
Welthandelsplatz 1, 1020 Vienna
Contact and further information:
WU, Institute for Finance, Banking and Insurance
att. Martina Schlichting
Welthandelsplatz 1, Building D4, Level 4
1020 Vienna
Phone: +43 1 31336 6315
Mail: office(a)si-researchcenter.at, Web: www.si-researchcenter.at
+------------------------------------------
|
| Teenage Think Tank
| http://www.teenagethinktank.at/
|
+------------------------------------------------------
Die Initiative "Teenage Think Tank" startet am 25. April 2014 und hat
sich das Ziel gesetzt interessierten SchülerInnen den praktischen Nutzen
von Mathematik in der Wirtschaft aufzuzeigen. Möglich wird das durch die
Kooperation mit der Technischen Universität Wien, dem Stadtschulrat für
Wien und dem Science Center Netzwerk.Reale Probleme aus Wirtschaft und
Gesellschaft durch innovative Ansätze mit mathematischen Methoden lösen
- nicht weniger ist der Anspruch des Teenage Think Tank. Ermöglicht
werden soll dies durch einen generationenübergreifenden
Wissensaustausch. In den angebotenen Workshops wird die Plattform
geboten, um die Ideen der Teenager zu sammeln und gemeinsam mit
ExpertInnen weiterzuentwickeln. Die Resultate werden im Anschluss auf
Umsetzungsmöglichkeit und Innovationskraft getestet.
**"Die Ideen der Teenager sind unsere Zukunft"**
ist Mitinitiator Bernhard Kronfellner überzeugt.
**Ideen fördern - erarbeiten - testen**
Mathematik zählt noch immer nicht zu den meistgenannten Lieblingsfächern
in der Schule. Dennoch ist der Bedarf an kompetenten MathematikerInnen
in der Wirtschaft hoch. Um ein Bindeglied zwischen Schulmathematik,
interessierten SchülerInnen und Firmen zu schaffen, wurde der Teenage
Think Tank ins Leben gerufen. Anhand praktischer Probleme, die die
Vortragenden aus ihrem Berufsleben beisteuern, wird der Nutzen von
Mathematik im Alltag erlebbar. Gleichzeitig sehen SchülerInnen, in
welche unterschiedlichen Bereiche eine technisch-naturwissenschaftliche
Ausbildung führen kann. Die Vortragenden der Startworkshops arbeiten
z.B. in den Bereichen Bankenwesen, Medizin oder Rechtswissenschaften.
Von Wirtschaftsseite besteht das Interesse an der Meinung der
Jugendlichen zu aktuellen Fragestellungen. Durch gezielte Einbindung der
Teenager sollen adäquate Lösungen gemeinsam entwickelt werden. Der
Schulmathematik bietet sich die Option den Unterricht durch reale
Beispiele zu erweitern und die konkrete Anwendbarkeit des Erlernten zu
demonstrieren.
**Vernetzung erwünscht**
Neben den Workshop-Terminen - in Folge sollen ein bis zwei pro Semester
stattfinden - steht eine App zur Vernetzung zur Verfügung. Diese soll
durchgehenden Kontakt zwischen den Beteiligten ermöglichen. Neue Ideen
können eingereicht werden, bestehende Ideen können bewertet werden und
Rechenbeispiele aus der Praxis werden angeboten. Die Ergebnisse aus den
Workshops werden in White Papers veröffentlicht. SchülerInnen haben
somit Ergebnisse parat, die ihr Engagement dokumentieren.
**Teenage Think Tank - Kick off Veranstaltung**
Freitag, 25. April 2014, 15:00 - 19. 30 Uhr
Festsaal der TU Wien Karlsplatz 13, 1040 Wien
Die Teilnahme ist kostenfrei! (Online-Anmeldung erbeten)
Kurzentschlossene interessierte SchülerInnen der Oberstufe sind herzlich
eingeladen!
Webtipp: http://www.teenagethinktank.at/
**Rückfragehinweise:**
Prof. Manfred Kronfellner
Institut für Diskrete Mathematik und Geometrie
Technische Universität Wien
Wiedner Hauptstraße 8-10, 1040 Wien
M +43-699-19384561
manfred.kronfellner(a)tuwien.ac.at
[Text von
http://www.tuwien.ac.at/aktuelles/news_detail/article/8749/?no_cache=1 ]
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
************************************************************************
Date: APRIL 8 (Tuesday), 2014, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Vienna
Speaker: Prof. Susan Christoffersen, University of Toronto, Rotman School of Management
http://www.rotman.utoronto.ca/FacultyAndResearch/Faculty/FacultyBios/Christ…
x
Title: On the demand for high-beta stocks: Evidence from mutual funds
ABSTRACT:
Prior studies have documented that pension plan sponsors rigorously monitor a fund´s
performance relative to a benchmark. We use a first-difference approach to causally show
that in an effort to beat benchmarks, fund managers controlling large pension assets reduce
fees and increase their exposure to higher risk (high-beta) stocks. Managers increase beta
without affecting tracking error because they strategically substitute low-beta stocks for
high-beta stocks with low idiosyncratic volatility. The findings support theoretical conjectures
that benchmarking pressures increase demand for high-beta stocks and help to explain their
abnormally low returns. Managerial risk-taking responses to benchmarking pressures
complicate financial planning for investors as portfolio risk increases with the amount of
retirement money managed in the mutual fund.
About Susan Christoffersen:
Susan Christoffersen is an Associate Professor of Finance. Her research focuses on mutual
funds and the role of financial institutions in capital markets. She has published in top
finance journals and cited in The New York Times, International Herald Tribune, Bloomberg
News Service, and The Wall Street Journal. Susan has received grants from SSHRC, IFM2,
and FQRSC and research awards from Q-Group, Bank of Canada, BSI Gamma Foundation,
INQUIRE, and the Swiss Finance Institute. Susan was awarded the Limited Term
Professorship by the Canadian Securities Institute Research Foundation in 2005.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
INVITATION
(apologies for duplicated mails!)
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public. Both the topic and the speaker for our next event are particularly interesting. We will be discussing the risk and return characteristics of five long-established Bordeaux wines, with price histories that go back more than 100 years. Our speaker is Professor Elroy Dimson, who is well-known for his important contributions in the field of asset management, such as his work on estimating betas or his work on risk premia in the stock markets.
INVESTMENT TALK
Date: Wednesday, March 19, 2014 - 4 pm
Speaker: PROF. ELROY DIMSON
Topic: "THE PRICE OF WINE"
ABSTRACT:
We examine the impact of aging on wine prices and the performance of wine as a long-term investment using a unique historical database for five long-established Bordeaux wines that we construct from auction and dealer prices. We estimate the life-cycle price patterns with a regression model that avoids multicollinearity between age, vintage year, and time by replacing vintage effects with annual data on production yields and weather quality. In line with the predictions of an illustrative model, we observe the highest appreciation rates for young high-quality wines that are still maturing. Our results also suggest that owners of famous wines receive non-pecuniary benefits-especially for old bottles-even though this "psychic" dividend is probably small relative to financial returns. Using an arithmetic repeat-sales regression, we estimate an annualized real financial return to wine investments (net of insurance and storage costs) of 4.1% between 1900 and 2012. Wine returns are lower than equity returns but positively correlated with them, yet wine does outperform government bonds, art, and stamps. We note that the historical returns on wine documented here may have exceeded ex ante expectations.
ABOUT ELROY DIMSON:
Elroy Dimson co-directs the Centre for Endowment Asset Management at Cambridge Judge Business School, chairs the Strategy Council for the Norwegian Government Pension Fund, chairs the Policy Committee for FTSE Group, and is Emeritus Professor of Finance at London Business School. His publications include Triumph of the Optimists, Endowment Asset Management, and the Global Investment Returns Yearbook. He has been an Associate Editor of Journal of Finance, Review of Finance and other journals.
A co-designer of the FTSE 100 index, Elroy chairs FTSE's advisory board and serves on the Financial Analysts Journal board. He is on the investment committees of Guy's & St Thomas' Charity and the Foundation for Social Entrepreneurs. He is past president of the European Finance Association, and Honorary Fellow of the CFA Society of the UK (FSIP) and of the Institute of Actuaries. He recently received the CFA Institute's James Vertin award, the Moskowitz prize, and the Bernstein Fabozzi/Jacobs Levy award.
REGISTRATION IS REQUIRED. We kindly ask to register before March 10th at office(a)si-researchcenter.at
LOCATION:
WU, Building LC (Library & Learning Center),
Festsaal 1 (http://gis.wu.ac.at/index.html?roomShow=LC.0.100)
Welthandelsplatz 1, 1020 Vienna
Contact and further information:
WU, Institute for Finance, Banking and Insurance
att. Martina Schlichting
Welthandelsplatz 1, Building D4, 4th Floor
1020 Vienna
Phone: +43 1 31336 6315
Mail: office(a)si-researchcenter.at, Web: www.si-researchcenter.at
INVITATION
7th Financial Risks International Forum
BIG DATA IN FINANCE AND INSURANCE
Paris, March 20 & 21 2014
The Louis Bachelier "Finance and Sustainable Growth" Laboratory is pleased to invite you to the
7th Financial Risks International Forum. In the current context, this year's forum will focus on
"BIG DATA IN FINANCE AND INSURANCE". Papers will address topics such as:
- Large Scale Linear and Nonlinear Factor Models, Granularity, Nonlinear Principal Component Analysis, Construction of Indexes from Large Data Sets;
- Behavioral Scores, Real Time Updating of Scores and Rankings
- Analysis of Retail Contracts, of Balance Sheets Histories, of Investors and Fund Managers Behavior, of Risk Appetite Indicators Given on Google;
- Analysis of Markets with Highly Differentiated Products: Pricing the Quality Characteristics, Hedonic Price Indexes, Application to Markets of Physical Goods
- Contagion and Systemic Risk, Regulation in a Large Dataset Environment, Non Regulated Web Currencies
- Effect of Big Data on the Organization of the Markets (Web Market Monitoring), on the Role of Intermediaries, on the Product Design
- High Frequency Data, Market Microstructure.
The aim of this event is to showcase the very best of international research, selected by our international scientific committee, chaired by Marie BRIERE - Amundi, Paris-Dauphine University and Université Libre de Bruxelles -. Panel sessions will be led by industry professionals, with workshops that encourage dialog among researchers and working financial professionals. The scientific committee's rigorous requirements, combined with the outstanding quality of the papers, ensure an event meets the highest level of international standards.
Our guest speakers for this edition are:
- Liran EINAV, Stanford University
- Joseph Joey ENGELBERG, University of California, San Diego
- Roberto RIGOBON, MIT Sloan School of Management
The forum will take place on March, Thursday 20th and Friday 21rst, 2014 at the Paris Ile-de-France Regional Chamber of Commerce and Industry / Chambre de Commerce et d'Industrie de Région Paris-Ile-de-France. CCIP, 27 avenue de Friedland, 75008 Paris.
Click here for the most recent agenda:
http://risk2014.institutlouisbachelier.org
If you would like to join us for interactive debates, please kindly register online:
http://www.financialrisksforum.com/cgi-bin/risk2014/risk-inscrire?e=2014
Im INSTITUTE FOR FINANCE, BANKING AND INSURANCE ist voraussichtlich ab 1. April 2014 bis 31. März 2020 eine Stelle für einen Universitätsassistenten/eine Universitätsassistentin prae doc (Teaching and Research Associate) (Angestellte/r gemäß Kollektivvertrag für die Arbeitnehmer/innen der Universitäten, monatliches Mindestentgelt: 1.961,85 € brutto, Anrechnung von tätigkeitsbezogenen Vordienstzeiten möglich) Beschäftigungsausmaß: 75% (30 Std./Woche) zu besetzen.
AUFGABENGEBIET:
Unterstützung und Mitarbeit in der Lehre und Forschung im Bereich Finance, Risk Management oder Insurance
NOTWENDIGE KENNTNISSE UND QUALIFIKATIONEN:
Wirtschaftswissenschaftliches Studium mit Schwerpunkt in Finanzwirtschaft bzw. einer benachbarten Wissenschaftsdisziplin oder Abschluss des Studienzweiges
Wirtschaftsmathematik, Statistik oder Physik; Voraussetzungen für die Aufnahme bzw. Absolvierung eines wirtschaftswissenschaftlichen Doktoratsstudiums (prae doc)
ERWÜNSCHTE KENNTNISSE UND QUALIFIKATIONEN:
Starkes Interesse am wissenschaftlichen Arbeiten mit Anwendungen in Corporate Finance, Corporate Risk Management, Insurance oder Fair Value Accounting und Kapitalmarktregulierung mit dem Ziel der Promotion; sehr gute Kenntnisse im Bereich quantitativer und analytischer Methoden in den Wirtschaftswissenschaften; sehr gute Englischkenntnisse, Teamfähigkeit und Selbständigkeit
Kennzahl: 2005
Ende der Bewerbungsfrist: 12. März 2014
http://www.wu.ac.at/jobs
Daniela Fuchs
_______________________________________________________
Office FAS (D4)
Department of Finance, Accounting and Statistics
WU Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Welthandelsplatz 1, Building D4, Entrance A, 4th floor, 1020 Vienna, Austria
[T] +43 1 31336/4691
[F] +43 1 31336/904691
[E] daniela.fuchs(a)wu.ac.at<mailto:daniela.fuchs@wu.ac.at>
www.wu.ac.at/finance<http://www.wu.ac.at/finance>
To: vfn-l(a)fam.tuwien.ac.at
INVITATION
7th Financial Risks International Forum
BIG DATA IN FINANCE AND INSURANCE
Paris, March 20 & 21 2014
The Louis Bachelier "Finance and Sustainable Growth" Laboratory is pleased to invite you to the
7th Financial Risks International Forum. In the current context, this year's forum will focus on
"BIG DATA IN FINANCE AND INSURANCE". Papers will address topics such as:
- Large Scale Linear and Nonlinear Factor Models, Granularity, Nonlinear Principal Component Analysis, Construction of Indexes from Large Data Sets;
- Behavioral Scores, Real Time Updating of Scores and Rankings
- Analysis of Retail Contracts, of Balance Sheets Histories, of Investors and Fund Managers Behavior, of Risk Appetite Indicators Given on Google;
- Analysis of Markets with Highly Differentiated Products: Pricing the Quality Characteristics, Hedonic Price Indexes, Application to Markets of Physical Goods
- Contagion and Systemic Risk, Regulation in a Large Dataset Environment, Non Regulated Web Currencies
- Effect of Big Data on the Organization of the Markets (Web Market Monitoring), on the Role of Intermediaries, on the Product Design
- High Frequency Data, Market Microstructure.
The aim of this event is to showcase the very best of international research, selected by our international scientific committee, chaired by Marie BRIERE - Amundi, Paris-Dauphine University and Université Libre de Bruxelles -. Panel sessions will be led by industry professionals, with workshops that encourage dialog among researchers and working financial professionals. The scientific committee's rigorous requirements, combined with the outstanding quality of the papers, ensure an event meets the highest level of international standards.
Our guest speakers for this edition are:
- Liran EINAV, Stanford University
- Joseph Joey ENGELBERG, University of California, San Diego
- Roberto RIGOBON, MIT Sloan School of Management
The forum will take place on March, Thursday 20th and Friday 21rst, 2014 at the Paris Ile-de-France Regional Chamber of Commerce and Industry / Chambre de Commerce et d'Industrie de Région Paris-Ile-de-France. CCIP, 27 avenue de Friedland, 75008 Paris.
If you would like to join us for interactive debates, please kindly register online:
http://www.financialrisksforum.com/cgi-bin/viewlink?k=67685055&r=163199678
INVITATION
We are pleased to invite you to our next Investment Talk, organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and provides a platform for exchange in the field of asset management between academics, practitioners and the public. Both the topic and the speaker for our next event are particularly interesting. We will be discussing the risk and return characteristics of five long-established Bordeaux wines, with price histories that go back more than 100 years. Our speaker is Professor Elroy Dimson, who is well-known for his important contributions in the field of asset management, such as his work on estimating betas or his work on risk premia in the stock markets.
INVESTMENT TALK
Date: Wednesday, March 19, 2014 - 4 pm
Speaker: Prof. Elroy Dimson
Topic: "THE PRICE OF WINE"
ABSTRACT:
We examine the impact of aging on wine prices and the performance of wine as a long-term investment, using a unique historical database for five long-established Bordeaux wines that we construct from auction and dealer prices. We estimate the life-cycle price patterns with a regression model that avoids multicollinearity between age, vintage year, and time by replacing the vintage effects with annual data on production yields and weather quality. In line with the predictions of an illustrative model, we observe the highest rates of appreciation for young high-quality wines that are still maturing. The findings suggest that the non-financial "psychic return" to holding wines that are substantially beyond maturity is at least 1%. Using an arithmetic repeat-sales regression, we estimate an annualized return to wine investments (net of insurance and storage costs) of 4.1%, in real GBP terms, between 1900 and 2012. Wine underperforms equities over this period, but outperforms government bonds, art, and stamps. Wine and equity returns are positively correlated.
Registration is required.
ABOUT ELROY DIMSON:
Elroy Dimson co-directs the Centre for Endowment Asset Management at Cambridge Judge Business School, chairs the Strategy Council for the Norwegian Government Pension Fund, chairs the Policy Committee for FTSE Group, and is Emeritus Professor of Finance at London Business School. His publications include Triumph of the Optimists, Endowment Asset Management, and the Global Investment Returns Yearbook. He has been an Associate Editor of Journal of Finance, Review of Finance and other journals.
A co-designer of the FTSE 100 index, Elroy chairs FTSE's advisory board and serves on the Financial Analysts Journal board. He is on the investment committees of Guy's & St Thomas' Charity and the Foundation for Social Entrepreneurs. He is past president of the European Finance Association, and Honorary Fellow of the CFA Society of the UK (FSIP) and of the Institute of Actuaries. He recently received the CFA Institute's James Vertin award, the Moskowitz prize, and the Bernstein Fabozzi/Jacobs Levy award.
REGISTRATION IS REQUIRED. We kindly ask to register before March 10th at office(a)si-researchcenter.at
LOCATION:
WU, Building LC (Library & Learning Center),
Festsaal 1 (http://gis.wu.ac.at/index.html?roomShow=LC.0.100)
Welthandelsplatz 1, 1020 Vienna
Contact and further information:
WU, Institute for Finance, Banking and Insurance
att. Martina Schlichting
Welthandelsplatz 1, Building D4, 4th Floor
1020 Vienna
Phone: +43 1 31336 6315
Mail: office(a)si-researchcenter.at, Web: www.si-researchcenter.at
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
*************************************************************************
Date: JANUARY 21 (Tuesday), 2014, 4:00 pm
Location: Bank Gutmann, Schwarzenbergplatz 16, A-1010 Wien
Speaker: Prof. Stephen Satchell, University of Sydney and University of Cambridge
http://sydney.edu.au/business/staff/stephens
Title: "Psychic Returns to Cultural Investments"
ABSTRACT:
This paper presents procedures for evaluating psychic returns to cultural assets. Measuring
the psychic return of art investments is an important issue in cultural economics. We focus
on the psychic returns of art relative to equity using British data from 1895 to 2011.
However, our arguments are entirely general. We take into account the substantial costs
involved in art investment and also discuss the existing estimates of the psychic returns to
art in the literature which are typically between 10 to 30 percent. Applying utility based
models and equilibrium based models, we construct new estimates of psychic returns based
on plausible portfolio weights and also trace the linkages of psychic returns of art to other
markets by an examination of trade flows.
About Stephen Satchell:
Stephen Satchell is working on a number of topics in the broad areas of econometrics,
finance, risk measurement and utility theory. He has an interest in both theoretical and
empirical problems. Many of his research problems are motivated by practical investment
issues. His current research looks at alternative methods of portfolio construction and risk
management, as well as on non-linear dynamic models. He is also active in researching the
UK mortgage and housing markets.
Stephen Satchell is the editor of the Journal of Asset Management, and he has published
extensively in various top-journals. He has strong links with Inquire (Institute for
Quantitative Investment Research), an organization that finances academic research on
quantitative investment. He is also on the management committee of LQG (London Quant
Group).
Stephen Satchell is a Fellow of Trinity College Cambridge where he has Isaac Newton's
rooms.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
---------- Forwarded message ----------
Date: Thu, 28 Nov 2013 00:13:56 +0100 (CET)
From: Institut Louis Bachelier <risk(a)institutlouisbachelier.org>
To: "vfn-l(a)fam.tuwien.ac.at" <vfn-l(a)fam.tuwien.ac.at>
Subject: CALL FOR PAPERS - 7th Financial Risks International Forum (2014
session) - Deadline: December 6, 2013
To vfn-l(a)fam.tuwien.ac.at
CALL FOR PAPERS
7th Financial Risks International Forum
-----------------------------------------
BIG DATA IN FINANCE AND INSURANCE
Paris, March 20 & 21, 2014
The Financial Risks International Forum on "Big Data in Finance and Insurance"
is an International Research Forum for academics and professionals organized by
The Louis Bachelier "Finance and Sustainable Growth" Laboratory.
We invite academics, professionals and regulators to submit papers for this
meeting which will take place in Paris on March 20 & 21, 2014.
The aim of this conference is to highlight the methodological, organizational
and regulatory challenges posed by the availability of large data sets in
Finance. The sets of available data increased for different reasons such as the
possibility to collect data on individual contracts, to enlarge the set of
observed individual variables, to consider differentiated financial products or
to increase the observation frequency. A non limitative list of topics of
interest is given below:
- Large Scale Linear and Nonlinear Factor Models, Granularity, Nonlinear
Principal Component Analysis, Construction of Indexes from Large Data Sets;
- Social Networks, Behavioral Scores, Real Time Updating of Scores and Rankings
(Driving Behavior Monitoring from Onboard Sensor's Data, Academic Research
Ranking, etc.);
- Analysis of Retail Contracts, of Balance Sheets Histories, of Investors and
Fund Managers Behavior, of Risk Appetite Indicators Given on Google;
- Contagion and Systemic Risk: How to Structure Large Networks?;
- Regulation in a Large Dataset Environment: Quick Detection of Anomalies,
Control of the Available Information, Technological Risks, Non Regulated Web
Currencies;
- Microprudential Foundations of Macroprudential Regulation;
- Analysis of Markets with Highly Differentiated Products: Pricing the Quality
Characteristics, Hedonic Price Indexes, Application to Markets of Physical Goods
(Real Estate Markets, Art Markets, Commodity Markets, etc.);
- Effect of Big Data on the Organization of the Markets (Web Market Monitoring),
on the Role of Intermediaries (Crowdfunding), on the Product Design (Effect of
an On-Board GPS on the Design and Market of Car Insurance Contracts, etc.);
- High Frequency Data (Asymmetric Information vs Asymmetric Treatment of
Information), Market Microstructure;
- IO Implications of Big Data (Economic Challenges posed by Big Data Access).
PAPER SUBMISSION:
A complete paper in PDF format must be submitted electronically by December 6,
2013 using the submission form.
Click below to submit your paper:
http://www.financialrisksforum.com/risk2014/submit_work.phtml
The results of the selection procedure will be set by mid-January 2014.
For any inquiry: risk(a)institutlouisbachelier.org
EXPENSES:
The Institut Louis Bachelier may cover part of travel and accommodation expenses
for the authors of selected papers (upon request and only for speakers).
Please ignore the first AWG announcement, as the links do not work
properly. Sorry for any inconvenience!
Program and invitation for participation
28th Workshop of the
Austrian Working Group on Banking and Finance
22 and 23 November 2013
Vienna University of Technology
We kindly invite all researchers and practitioners interested in the
field of Banking and Finance to participate in the 28th Workshop of the
Austrian Working Group on Banking and Finance (AWG). The program can be
downloaded from our web site:
http://www.imw.tuwien.ac.at/fc/awg_2013/
Registration
Participation is free. Participants (depart from presenters and a few
people that already indicated their participation) are kindly asked to
register via e-mail to Wolfgang Aussenegg until Tuesday, 19.11.2013:
waussen(a)pop.tuwien.ac.at
Conference Dinner
The conference dinner (sponsored by BWG) takes place at the restaurant
“Gußhaus” (Gußhausstraße 23, 1040 Vienna), starting at 19:30 on Friday,
22.11.2013. We also kindly ask all participants (including presenters)
intending to join us for the conference dinner to register via Doodle
until 19.11.2013. Link to the online survey:
http://doodle.com/5byyzabxs5hrud3e
--
***********************************************************
a.o.Univ.-Prof. Dr. Wolfgang Aussenegg
Institut für Managementwissenschaften
Bereich Finanzwirtschaft und Controlling
Technische Universität Wien
(DVR-Nummer 0005886)
Phone: +43-1-58801 - 33082
Fax: +43-1-58801 - 33098
E-mail: waussen(a)pop.tuwien.ac.at
Web: http://www.imw.tuwien.ac.at/fc/
Adresse: Theresianumgasse 27
A-1040 Wien
Österreich
*Program and invitation for participation*
*28^th Workshop of the*
*Austrian Working Group on Banking and Finance*
*22 and 23 November 2013*
*Vienna University of Technology*
*http://www.imw.tuwien.ac.at/fc/awg_2013/*
**
We kindly invite all researchers and practitioners interested in the
field of Banking and Finance to participate in the 28th Workshop of the
Austrian Working Group on Banking and Finance (AWG). The program can be
downloaded from our web site:
(*http://www.imw.tuwien.ac.at/fc/awg_2013/*)*.*
*Registration*
Participation is free. Participants (depart from presenters and a few
people that already indicated their participation) are kindly asked to
*register via e-mail* to Wolfgang Aussenegg (*waussen(a)pop.tuwien.ac.at*
<mailto:waussen@pop.tuwien.ac.at>) until Tuesday, 19.11.2013.
*Conference Dinner*
The conference dinner (sponsored by BWG) takes place at the restaurant
"Gußhaus" (Gußhausstraße 23, 1040 Vienna), starting at 19:30 on Friday,
22.11.2013. We also kindly ask all participants (including presenters)
intending to join us for the conference dinner to *register via Doodle*
until 19.11.2013 (link to the online survey:
*http://doodle.com/5byyzabxs5hrud3e*).
--
***********************************************************
a.o.Univ.-Prof. Dr. Wolfgang Aussenegg
Institut für Managementwissenschaften
Bereich Finanzwirtschaft und Controlling
Technische Universität Wien
(DVR-Nummer 0005886)
Phone: +43-1-58801 - 33082
Fax: +43-1-58801 - 33098
E-mail: waussen(a)pop.tuwien.ac.at
Web: http://www.imw.tuwien.ac.at/fc/
Adresse: Theresianumgasse 27
A-1040 Wien
Österreich
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
*************************************************************************
Date: OCTOBER 29 (Tuesday), 2013, 4:00 pm
Location: NOTE! Other than stated in an earlier invitation the public lecture takes
place at Bank Gutmann, Schwarzenbergplatz 16, A-1010 Wien
Speaker: Prof. Suleyman Basak, London Business School and CEPR
http://faculty.london.edu/sbasak/
Title: "The Financialization of Commodities "
ABSTRACT:
A sharp increase in the popularity of commodity investing in the past decade has triggered
an unprecedented inflow of institutional funds into commodity futures markets. Such
financialization of commodities coincided with significant booms and busts in commodity
markets, raising concerns of policymakers. In this talk, I explore the effects of
financialization in a model that features institutional investors alongside traditional futures
markets participants. The institutional investors care about their performance relative to a
commodity index. We find that if a commodity futures is included in the index, supply and
demand shocks specific to that commodity spill over to all other commodity futures markets.
In contrast, supply and demand shocks to a nonindex commodity affect just that commodity
market alone. Moreover, prices and volatilities of all commodity futures go up, but more so
for the index futures than for nonindex ones. Furthermore, financialization - the presence of
institutional investors - leads to an increase in correlations amongst commodity futures as
well as in equity-commodity correlations. Consistent with empirical evidence, the increases
in the correlations between index commodities exceed those for nonindex ones. We perform
a simple calibration and find that financialization accounts for 11% to 17% of commodity
futures prices and the rest is attributable to fundamentals.
About Suleyman Basak:
Dr. Basak is Professor of Finance at London Business School and a Research Fellow to the
Center of Economic Policy Research. He was an Assistant Professor of Finance at the
Wharton School of the University of Pennsylvania, was a visitor at the Graduate School of
Business at the University of Chicago, and acted as a consultant to Goldman, Sachs & Co.
He received his Ph.D. in Financial Economics from Carnegie Mellon University. Dr. Basak´s
research focuses on asset pricing, asset allocation, risk management, market imperfections,
international finance and financial innovation. His work has addressed issues related to
portfolio insurance, VaR-based risk management, benchmarking, credit risk, tax arbitrage,
incentive problems plaguing institutional asset management, and mispricing, arbitrageurs
and monopoly power in financial markets. His research is the recipient of several awards
including the American Association of Individual Investors Award for the Best Paper on
Investments, and the Alexander Henderson Award for Excellence in Economic Theory.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
INVITATION
We are pleased to invite you to this year's Investment Seminar (formerly Vienna Seminar on Asset Management), organized by the Spängler IQAM Research Center. The Center is a joint initiative of TU Vienna (Vienna University of Technology) and WU Vienna University of Economics and Business supported by Spängler IQAM Invest and combines the strengths of two leading Universities in Austria. It aims to be a platform for exchange in the field of asset management between academics, practitioners and the public. This is achieved by supporting the generation and implementation of knowledge and experience in the process of value creation for investors.
INVESTMENT SEMINAR
"Asset Management in Europe: Adapting to Institutional Change"
Tuesday, November 26, 2013
3:15-3:30 pm WELCOME
3:30-5:00 pm SESSION 1: "Institutional Change in Europe", Session Chair: Engelbert Dockner (WU Vienna University of Economics and Business)
3:30-4:00 pm Lucrezia Reichlin (London Business School), "Post-Recession Europe: What are the Challenges"
4:00-4:30 pm Jan Pieter Krahnen (Goethe University Frankfurt), "Europe's New Bank Regulation: Implications for Investors"
4:30-5:00 pm Discussion
5:00-5:30 pm Coffee break
5:30-6:45 pm SESSION 2: "New Developments in Asset Management", Panel Discussion, Session Chair: Josef Zechner (WU Vienna University of Economics and Business)
Discussants: Thomas Dangl (TU Vienna), Raman Uppal (EDHEC Business School), Doron Avramov (The Hebrew University of Jerusalem), Amit Goyal (University of Lausanne)
7:00 pm Refreshments
Registration is required. We kindly ask to register at office(a)si-researchcenter.at
Location:
WU, Building LC (Library & Learning Center), Festsaal 2 (http://gis.wu.ac.at/index.html?roomShow=LC.0.200)
Welthandelsplatz 1, 1020 Vienna
Contact and further information:
WU, Institute for Finance, Banking and Insurance
att. Martina Schlichting
Welthandelsplatz 1, Building D4, 4th Floor
1020 Vienna
Phone: +43 1 31336 6315
Mail: office(a)si-researchcenter.at
Web: www.si-researchcenter.at
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
(apologies for duplicated mails!)
*************************************************************************
Date: OCTOBER 29 (Tuesday), 2013, 4:00 pm
Location: WU Campus, AD.0.144 (Sitzungssaal 1), Welthandelsplatz 1, 1020 Wien
Speaker: Prof. Suleyman BASAK, London Business School and CEPR
http://faculty.london.edu/sbasak/
Title: "THE FINANCIALIZATION OF COMMODITIES"
ABSTRACT:
A sharp increase in the popularity of commodity investing in the past decade has triggered an unprecedented inflow of institutional funds into commodity futures markets. Such financialization of commodities coincided with significant booms and busts in commodity markets, raising concerns of policymakers. In this talk, I explore the effects of financialization in a model that features institutional investors alongside traditional futures markets participants. The institutional investors care about their performance relative to a commodity index. We find that if a commodity futures is included in the index, supply and demand shocks specific to that commodity spill over to all other commodity futures markets. In contrast, supply and demand shocks to a nonindex commodity affect just that commodity market alone. Moreover, prices and volatilities of all commodity futures go up, but more so for the index futures than for nonindex ones. Furthermore, financialization - the presence of institutional investors - leads to an increase in correlations amongst commodity futures as well as in equity-commodity correlations. Consistent with empirical evidence, the increases in the correlations between index commodities exceed those for nonindex ones. We perform a simple calibration and find that financialization accounts for 11% to 17% of commodity futures prices and the rest is attributable to fundamentals.
About Suleyman Basak:
Dr. Basak is Professor of Finance at London Business School and a Research Fellow to the Center of Economic Policy Research. He was an Assistant Professor of Finance at the Wharton School of the University of Pennsylvania, was a visitor at the Graduate School of Business at the University of Chicago, and acted as a consultant to Goldman, Sachs & Co. He received his Ph.D. in Financial Economics from Carnegie Mellon University. Dr. Basak's research focuses on asset pricing, asset allocation, risk management, market imperfections, international finance and financial innovation. His work has addressed issues related to portfolio insurance, VaR-based risk management, benchmarking, credit risk, tax arbitrage, incentive problems plaguing institutional asset management, and mispricing, arbitrageurs and monopoly power in financial markets. His research is the recipient of several awards including the American Association of Individual Investors Award for the Best Paper on Investments, and the Alexander Henderson Award for Excellence in Economic Theory.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-5238
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien)
Department of Finance, Accounting and Statistics
Sabina Krickl
www.gutmann-center.at
Das Institut für Bank- und Versicherungswirtschaft der FH JOANNEUM strebt eine führende Position in der berufsbegleitenden akademischen Ausbildung für die Bank- und Versicherungswirtschaft in Österreich an.
Zu diesem Zweck gelangt folgende Stelle zur Ausschreibung:
FH-Professur für
Bank- und Versicherungswirtschaft
Anforderungsprofil:
Gesucht wird eine Persönlichkeit, die über fundierte theoretische Kenntnisse und umfassende Berufserfahrung in qualifizierter/leitender Position in der Bank- bzw. Versicherungswirtschaft verfügt. Wünschenswert sind Know-how bzw. Projekterfahrung in einem der nachstehenden Bereiche in der Bank- bzw. Versicherungswirtschaft: Asset Management, Aufsicht und Regulierung, Controlling und Unternehmenssteuerung, Geschäftsprozessmanagement, Privat- und Geschäftskunden, Produktentwicklung, Risikomanagement, Unternehmensentwicklung, Vertriebsmanagement.
Einstellungsvoraussetzungen sind ein abgeschlossenes Hochschulstudium (Master bzw. Diplom), eine fünfjährige einschlägige Berufspraxis, von der möglichst drei Jahre außerhalb einer Hochschule ausgeübt worden sein sollen, sowie die besondere Befähigung zu wissenschaftlicher Arbeit, vorzugsweise belegt durch eine Promotion. Darüber hinaus wird ein Nachweis über eine entsprechende pädagogisch-didaktische Eignung erwartet.
BewerberInnen mit einem ausgeprägten versicherungswirtschaftlichen Hintergrund werden bevorzugt behandelt.
Aufgabengebiete:
- Abhaltung von einschlägigen Lehrveranstaltungen aus Bank- bzw. Versicherungswirtschaft;
- Betreuung von akademischen Abschlussarbeiten (Bachelor- und Masterarbeiten);
- Akquisition und Durchführung von einschlägigen anwendungsbezogenen Forschungsprojekten;
- Engagement beim Auf- und Ausbau von Kooperationen und Schwerpunkten in Forschung und Lehre am Institut;
- Bereitschaft zur aktiven Mitgestaltung bei Aufbau und Entwicklung neuer Studiengänge (insbesondere dem Master-Studiengang Bank- und Versicherungsmanagement) sowie Weiterbildungsangeboten des Instituts für Bank- und Versicherungswirtschaft.
Beschäftigungsausmaß: 50 - 100%
Monatliches Mindestgehalt : EUR 3.850,- brutto bei 100% (Überzahlung möglich)
Dienstbeginn: Jänner 2014
Dienstort: Graz
Ihre schriftliche Bewerbung mit aussagekräftigen Bewerbungsunterlagen schicken Sie bitte unter Angabe der Kennnummer KN 820 13 004 bis zum Montag, 4. November 2013 an:
FH JOANNEUM Gesellschaft mbH, z. H. Herr David Puhl
Alte Poststraße 147, 8020 Graz, Österreich
Tel: +43 (0)316 54 53-8807, Fax: +43 (0)316 54 53-98807
E-Mail: david.puhl(a)fh-joanneum.at<mailto:david.puhl@fh-joanneum.at>
www.fh-joanneum.at/jobs<http://www.fh-joanneum.at/jobs>
Nähere Informationen erhalten Sie von:
Ao. Univ.-Prof. Dr. Roland Mestel
Leiter Institut für Bank- und Versicherungswirtschaft
Tel: +43 (0)316 5453-7100
E-Mail: roland.mestel(a)fh-joanneum.at<mailto:roland.mestel@fh-joanneum.at>
FH JOANNEUM Gesellschaft mbH
Rechtsform/Legal form: GmbH
Firmenbuchgericht/Court of registry: Landesgericht für ZRS Graz
Firmenbuchnummer/Company registration: FN 125888 f
DVR: 0813559
UID-Nr.: ATU 42361001
==========================================================
PRisMa 2013: One-Day Workshop on Portfolio Risk Management
==========================================================
WEB PAGE: <http://www.fam.tuwien.ac.at/prisma2013/>
ORGANIZED BY:
- PRisMa Lab <http://www.prismalab.at/>
DATE/TIME:
Friday, September 27th, 2013,
9:20 - 16:30 plus bread & wine afterwards
SPONSORED BY:
- Christian Doppler Research Association
- Bank Austria
- Austrian Federal Financing Agency (ÖBFA)
- COR&FJA
- Österreichische Kontrollbank (OeKB)
LOCATION:
Vienna University of Technology
Karlsplatz 13, 1040 Vienna, Austria
Lecture Hall 6 (Main Building "Hauptgebäude" of TU Wien, ground floor)
Participation is free. See information for registration below.
Everyone is welcome, practitioners are especially encouraged to attend.
PROGRAM:
9:20 - 9:30
Prof. Dr. Uwe Schmock
Welcome
9:30 - 10:30
Prof. Dr. Andreas Kyprianou
Censored Stable Processes
10:30 - 10:50 Coffee Break
10:50 - 11:30
Dr. Christa Cuchiero
An HJM Approach to Multiple-Curve Modeling
11:30 - 12:00
Sühan Altay, MSc
Yield Curve Scenario Generation with Independent Component Analysis
12:00 - 13:30 Lunch Break
13:30 - 14:15
PD Dr. Stefan Gerhold
Local Volatility Models: Approximation and Regularization
14:15 - 15:00
Jonas Hirz, MSc
Risk Measures: From the Unconditional to the Conditional Case
15:00 - 15:20 Coffee Break
15:20 - 16:00
Dr. Julia Eisenberg
Optimal Consumption Under Deterministic Income
16:00 - 16:30
DI I. Cetin Gülüm
On the Existence of an Equivalent Martingale Measure in the
Dalang-Morton-Willinger Theorem, which Preserves the Dependence Structure
16:30 - 18:00 Bread and Wine
ABSTRACTS and LINKS: <http://www.fam.tuwien.ac.at/prisma2013/>
REGISTRATION: Participation is free, and there is no official
registration - nevertheless for administrative reasons we would be happy
if you write a short email to our secretary (see below) with your name
and university or company.
Everyone is welcome, practitioners are especially encouraged to attend.
For actuaries, this workshop counts up to 5 points for their continuing
professional development (morning and afternoon part each 2.5 points).
For a corresponding certificate, please register in advance for the
morning and/or afternoon part of the workshop by sending an email with
your name and postal address to the workshop secretary (see below) and
sign up when you actually attend the workshop.
Organisers:
- Prof. Dr. Uwe Schmock (FAM @ TU Wien)
- Prof. Dr. Thorsten Rheinländer (FAM @ TU Wien)
Workshop Secretary:
Ms. Sandra Trenovatz and Mr. Martin Trenovatz (FAM @ TU Wien)
Phone: +43-1-58801-10511
E-mail: fam(a)fam.tuwien.ac.at
FURTHER EVENTS:
Lecture Series in Financial and Actuarial Mathematics
=====================================================
Monday, September 16, 2013, 16:30
Vienna University of Technology, 1040 Wien, Wiedner Hauptstrasse 8,
Freihaus building, yellow area, 2nd floor, lecture hall "Freihaus Hörsaal 3"
Prof. Dr. Nikolai V. Kolev
(Department of Statistics, University of Sao Paulo, Brazil)
"Continuous Bivariate Distributions with Linear Sum of
the Hazard Gradient Components and Actuarial Applications"
http://www.fam.tuwien.ac.at/vr/20130916.php
For actuaries, this talk counts 1 point for their continuing
professional development.
EAJ 2014 - 2nd European Actuarial Journal Conference 2014
=========================================================
Wednesday, September 10 - Friday, September 12, 2014
Vienna University of Technology, Wiedner Hauptstraße 8, 1040 Wien
http://www.fam.tuwien.ac.at/eaj2014/
*2nd Call for Papers*
*28^th Workshop of the Austrian Working Group on Banking and Finance*
**
*22 and 23 November 2013, Vienna University of Technology*
*http://www.imw.tuwien.ac.at/fc/awg_2013/*
*Jointly Organized by*
Financial Enterprise Management Group (Bereich Finanzwirtschaft und
Controlling), Vienna University of Technology, Vienna, Austria
Austrian Society for Bank Research (BWG), Vienna, Austria
*Aim and Topics*
The aim of the workshop is to generate a discussion forum for
theoretical and empirical research in all areas of banking and
financethroughout Austria. All researchers (especially also junior
researchers) at universities and other research institutions as well as
practitioners of the financial industry (including finance departments
of industrial and service companies) are highly welcome to submit and
present their research. Junior researchers are, e.g. encouraged to
present one of their PhD Thesis papers/projects.
Full papers or detailed abstracts (about 2 pages) in all areas of
banking and finance are welcome. Topics can include but are not limited
to: Arbitrage Pricing, Behavioral Finance, Capital Market Theory,
Capital Requirements of Financial Institutions, Commercial Banking,
Contingent Claims Analysis, Corporate Finance, Financial Innovations,
Financial Markets Research, Intermediaries, International Banking and
Finance, Investment Banking, Options and Futures, Performance
Measurement, Portfolio Management, Risk Management, Security Analysis.
*Submissions and Important Dates*
Those wishing to present their research at the workshop are invited to
submit a full paper or a detailed abstract of about 2 pages via e-mail
to _waussen(a)pop.tuwien.ac.at_, by *15 October 2013*.
_Deadline_for Paper/Abstract Submission: *15 October 2013*
_Notification_of acceptance by: 25 October 2013 (or earlier)
_Registration_via e-mail to _waussen(a)pop.tuwien.ac.at_(if possible by 15
November 2013 (or earlier))
_Workshop dates_: Friday, 22 November 2013 (afternoon), Saturday, 23
November 2013 (morning)
/Please note: There is NO submission or registration fee for the workshop./
Those that wish to have (in addition to comments and recommendations
from the audience) a discussant for their paper should indicate this
when submitting the paper. In this case a full paper has to be submitted
by 1 October 2013.
*Workshop Venue*
The Workshop will take place at the following location:
Vienna University of Technology, 1040 Vienna, Karlsplatz 13, Main
Building, 1^st floor, Boecklsaal
--
***********************************************************
a.o.Univ.-Prof. Dr. Wolfgang Aussenegg
Institut für Managementwissenschaften
Bereich Finanzwirtschaft und Controlling
Technische Universität Wien
(DVR-Nummer 0005886)
Phone: +43-1-58801 - 33082
Fax: +43-1-58801 - 33098
E-mail: waussen(a)pop.tuwien.ac.at
Web: http://www.imw.tuwien.ac.at/fc/
Adresse: Theresianumgasse 27
A-1040 Wien
Österreich
INVITATION - REMINDER
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
SPÄNGLER IQAM INVEST ROUND TABLE
(apologies for duplicated mails!)
DATE:
Tue, July 2, 2013 - 4:30 pm
SPEAKER:
Prof. Dr. Douglas W. Diamond / Booth School of Business, University of Chicago
TOPIC:
"SHORT-TERM DEBT AND FINANCIAL REGULATION"
ABSTRACT:
Private financial crises are everywhere and always due to problems of short-term debt. Financial regulation can address many aspects of the financial sector, but it should focus on avoiding the excessive use of short-term debt without invoking excessive capital requirements. This is the way to have an impact on the risk of financial crises without destroying access to funding. Regulations based on this framework are proposed and evaluated.
ABOUT DOUGLAS W. DIAMOND:
Douglas W. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in such notable journals as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy. His research has been funded with grants from the National Science Foundation and the Garn Institute of Finance.
He has taught at Yale and was a visiting professor at the Hong Kong University of Science and Technology as well as the University of Bonn. He is a research associate of the National Bureau of Economic Research and worked for the Board of Governors of the Federal Reserve System while a graduate student.
In addition to his roles as a researcher and professor, Diamond is co-director of the Fama-Miller Center for Research in Finance at Chicago Booth, a visiting scholar at the Federal Reserve Bank of Richmond, a position he has held since 1990, and is on the Board of Directors of the Center for Research in Security Prices. Diamond is a former president of the American Finance Association and the Western Finance Association. He is also a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. He joined Chicago Booth in 1979.
Diamond earned a bachelor's degree in economics from Brown University in 1975. He earned master's degrees in 1976 and 1977 and a PhD in 1980 in economics from Yale University.
Further information about Douglas W. Diamond: http://www.chicagobooth.edu/faculty/directory/d/douglas-w-diamond
REGISTRATION IS REQUIRED:
We kindly ask to register at VSAM(a)wu.ac.at
LOCATION:
Seminar room 1 (Ground Floor), WU Institute for Finance, Banking and Insurance, Heiligenstädter Str. 46-48, 1190 Vienna, Austria
Contact and further information:
WU, Institute for Finance, Banking and Insurance att. Martina Schlichting Heiligenstädter Str. 46-48, 1190 Vienna
Phone: +43 1 31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
INVITATION
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
SPÄNGLER IQAM INVEST ROUND TABLE
(apologies for duplicated mails!)
DATE:
Tue, July 2, 2013 - 4:30 pm
SPEAKER:
Prof. Dr. Douglas W. Diamond / Booth School of Business, University of Chicago
TOPIC:
"SHORT-TERM DEBT AND FINANCIAL REGULATION"
ABSTRACT:
Private financial crises are everywhere and always due to problems of short-term debt. Financial regulation can address many aspects of the financial sector, but it should focus on avoiding the excessive use of short-term debt without invoking excessive capital requirements. This is the way to have an impact on the risk of financial crises without destroying access to funding. Regulations based on this framework are proposed and evaluated.
ABOUT DOUGLAS W. DIAMOND:
Douglas W. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in such notable journals as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy. His research has been funded with grants from the National Science Foundation and the Garn Institute of Finance.
He has taught at Yale and was a visiting professor at the Hong Kong University of Science and Technology as well as the University of Bonn. He is a research associate of the National Bureau of Economic Research and worked for the Board of Governors of the Federal Reserve System while a graduate student.
In addition to his roles as a researcher and professor, Diamond is co-director of the Fama-Miller Center for Research in Finance at Chicago Booth, a visiting scholar at the Federal Reserve Bank of Richmond, a position he has held since 1990, and is on the Board of Directors of the Center for Research in Security Prices. Diamond is a former president of the American Finance Association and the Western Finance Association. He is also a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. He joined Chicago Booth in 1979.
Diamond earned a bachelor's degree in economics from Brown University in 1975. He earned master's degrees in 1976 and 1977 and a PhD in 1980 in economics from Yale University.
Further information about Douglas W. Diamond: http://www.chicagobooth.edu/faculty/directory/d/douglas-w-diamond
REGISTRATION IS REQUIRED:
We kindly ask to register at VSAM(a)wu.ac.at
LOCATION:
Seminar room 1 (Ground Floor), WU Institute for Finance, Banking and Insurance, Heiligenstädter Str. 46-48, 1190 Vienna, Austria
Contact and further information:
WU, Institute for Finance, Banking and Insurance att. Martina Schlichting Heiligenstädter Str. 46-48, 1190 Vienna
Phone: +43 1 31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
INVITATION / CONFERENCE ANNOUNCEMENT
The WU Gutmann Center for Portfolio Management is proud to invite to its seventh symposium.
WU GUTMANN CENTER SYMPOSIUM 2013:
“SOVEREIGN CREDIT RISK AND ASSET MANAGEMENT”
JUNE 11, 2013 – 09:00-17:30
LOCATION:
WU (Vienna University of Economics and Business)
Augasse 2-6, (UZA 1), Festsaal, 1090 Vienna (Austria)
REGISTRATION:
Participation is free of charge, but REGISTRATION IS REQUIRED at gutmann-center(a)wu.ac.at
CONFERENCE HOMEPAGE: http://www.wu.ac.at/wuw/other/gc/whatwedo/bridging/symposia/2013/index
CONTACT AND FURTHER INFORMATION: www.gutmann-center.at
Recent years have shown a widespread and largely unexpected increase in sovereign credit risk. Its consequences still affect financial markets, the investment industry and economies around the world. The associated challenge to understand its origins and to investigate its consequences is still a major subject of political, economic and scientific debate, which may well last for another couple of years.
The main purpose of the WU Gutmann Symposium 2013 is to discuss various dimensions of sovereign credit risk and its implications for asset management. The papers of the symposium will focus on the following range of topics: sovereign credit risk, risk premia and stock market response; the role of governments and political uncertainty; banks' behavior and their systemic risk; sovereign bond and CDS markets.
We are proud to welcome highly renowned experts from all over the world who will present their state-of-the-art research in the field, and cordially invite you to attend the WU Gutmann Center Symposium 2013.
Nobel laureate William F. Sharpe, member of the WU Gutmann Center’s Academic Advisory Board, will open the symposium and chair the first session.
**PROGRAM**
08:30 Registration
09:00-09:15 WELCOME
Alexander Mürmann, Program Chair, WU Gutmann Center
Regina Prehofer, Vice-Rector, Financial Affairs and Infrastructure, WU
Friedrich Strasser, CIO and Member of the Board of Management, Bank Gutmann AG
09:15-10:45 SESSION I
Chair: **William F. Sharpe, Stanford University**
THE DYNAMICS OF SOVEREIGN CREDIT RISK
Alexandre Jeanneret, HEC Montréal
Discussant: Rüdiger Frey, WU
THE WORLD PRICE OF CREDIT RISK
Gergana Jostova, George Washington University
Discussant: Nils Friewald, WU
SOVEREIGN BOND RISK PREMIUMS
Engelbert J. Dockner, WU
Discussant: Kerstin Bernoth, DIW Berlin
10:45-11:15 Coffee Break
11:15-12:45 SESSION II
Chair: Elroy Dimson, London Business School
THE ASSET PRICING IMPLICATIONS OF GOVERNMENT ECONOMIC POLICY UNCERTAINTY
Jonathan Brogaard, University of Washington
Discussant: Benjamin Born, University of Mannheim
SOVEREIGN DEBT RATING CHANGES, INSTITUTIONAL QUALITY AND THE STOCK MARKET
George P. Nishiotis, University of Cyprus
Discussant: Hermann Elendner, Humboldt-Universität zu Berlin
THE SYSTEMIC RISK OF EUROPEAN BANKS DURING THE FINANCIAL AND SOVEREIGN DEBT CRISES
Xin Huang, University of Oklahoma
Discussant: David Veredas, Université libre de Bruxelles
12:45-13:45 Lunch Break
13:45-15:15 SESSION III:
Chair: Christian Laux, WU
GOVERNMENT GUARANTEES AND FINANCIAL STABILITY
Agnese Leonello, University of Pennsylvania
Discussant: Hendrik Hakenes, University of Bonn
THE “GREATEST” CARRY TRADE EVER? UNDERSTANDING EUROZONE BANK RISKS
Sascha Steffen, European School of Management and Technology, Berlin
Discussant: Josef Zechner, WU
SAFER RATIOS, RISKIER PORTFOLIOS: BANKS’ RESPONSE TO GOVERNMENT AID
Denis Sosyura, University of Michigan
Discussant: Gyöngyi Lóranth, University of Vienna
15:15-15:45 Coffee Break
15:45-17:15 SESSION IV
Chair: Robert Korajczyk, Northwestern University
CDS AND SOVEREIGN BOND MARKET LIQUIDITY
Batchimeg Sambalaibat, Carnegie Mellon University
Discussant: Giovanni Calice, University of Birmingham
THE EXODUS FROM SOVEREIGN RISK: SOVEREIGN CEILING VIOLATIONS IN CREDIT DEFAULT SWAP MARKETS
Jongsub Lee, University of Florida
Discussant: Peter Posch, University of Ulm
CREDIT-RISK VALUATION IN THE SOVEREIGN CDS AND BONDS MARKETS: EVIDENCE FROM THE EURO AREA CRISIS
Sergio Mayordomo (University of Navarra)
Discussant: Alois Geyer, WU
17:15 Concluding Remarks and Refreshments
INVITATION / CONFERENCE ANNOUNCEMENT
The WU Gutmann Center for Portfolio Management is proud to invite to its seventh symposium.
WU GUTMANN CENTER SYMPOSIUM 2013:
“SOVEREIGN CREDIT RISK AND ASSET MANAGEMENT”
http://www.wu.ac.at/gc/whatwedo/bridging/symposia
JUNE 11, 2013 – 09:00-17:30
Venue: WU Vienna, Festsaal, UZA 1, Augasse 2-6, 1090 Vienna (Austria)
Recent years have shown a widespread and largely unexpected increase in sovereign credit risk. Its consequences still affect financial markets, the investment industry and economies around the world. The associated challenge to understand its origins and to investigate its consequences is still a major subject of political, economic and scientific debate, which may well last for another couple of years.
The main purpose of the WU Gutmann Symposium 2013 is to discuss various dimensions of sovereign credit risk and its implications for asset management. The papers of the symposium will focus on the following range of topics: sovereign credit risk, risk premia and stock market response; the role of governments and political uncertainty; banks' behavior and their systemic risk; sovereign bond and CDS markets.
We are proud to welcome highly renowned experts from all over the world who will present their state-of-the-art research in the field, and cordially invite you to attend the WU Gutmann Center Symposium 2013.
**PROGRAM**
THE DYNAMICS OF SOVEREIGN CREDIT RISK, Alexandre Jeanneret, HEC Montréal
THE WORLD PRICE OF CREDIT RISK, Gergana Jostova, George Washington University
SOVEREIGN BOND RISK PREMIUMS, Engelbert J. Dockner, WU
THE ASSET PRICING IMPLICATIONS OF GOVERNMENT ECONOMIC POLICY UNCERTAINTY, Jonathan Brogaard, University of Washington
SOVEREIGN DEBT RATING CHANGES, INSTITUTIONAL QUALITY AND THE STOCK MARKET, George P. Nishiotis, University of Cyprus
THE SYSTEMIC RISK OF EUROPEAN BANKS DURING THE FINANCIAL AND SOVEREIGN DEBT CRISES, Xin Huang, University of Oklahoma
GOVERNMENT GUARANTEES AND FINANCIAL STABILITY , Agnese Leonello, University of Pennsylvania
THE “GREATEST” CARRY TRADE EVER? UNDERSTANDING EUROZONE BANK RISKS, Sascha Steffen, European School of Management and Technology, Berlin
SAFER RATIOS, RISKIER PORTFOLIOS: BANKS’ RESPONSE TO GOVERNMENT AID, Denis Sosyura, University of Michigan
SOVEREIGN BOND AND CREDIT DEFAULT SWAP MARKETS, Batchimeg Sambalaibat, Carnegie Mellon University
THE EXODUS FROM SOVEREIGN RISK: SOVEREIGN CEILING VIOLATIONS IN CREDIT DEFAULT SWAP MARKETS, Jongsub Lee, University of Florida
CREDIT-RISK VALUATION IN THE SOVEREIGN CDS AND BONDS MARKETS: EVIDENCE FROM THE EURO AREA CRISIS,Sergio Mayordomo, University of Navarra
**PLEASE REGISTER not later than June 5, 2013**:
gutmann-center(a)wu.ac.at
Participation is free of charge
Detailed program: http://www.wu.ac.at/gc/whatwedo/bridging/symposia
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU Vienna, Department of Finance, Accounting and Statistics
Phone: +43-1-31336-4244 – Mail: gutmann-center(a)wu.ac.at
www.gutmann-center.at
Sehr geehrte Damen und Herren,
Der Studiengang "Quantitative Asset and Risk Management" (kurz: ARIMA) startet heuer im Herbst zum vierten Mal und die ersten AbsolventInnen haben hervorragende
Chancen auf dem momentan doch recht schwierigen Arbeitsmarkt.
**Für das kommende Studienjahr 2012/13 werden noch Bewerbungen bis zum 15. Juni 2012 entgegen genommen.**
Die Entwicklung dieses Programmes erfolgte gemeinsam mit internationalen Partneruniversitaeten in Prag, Istanbul und Katowice und wurde von der EU als Joint Degree Curriculum Development Programm gefoerdert. Im 3. Semester findet daher ein verpflichtender Auslandsaufenthalt (zweimal 3 Wochen geblockt) bei einer der Partneruniversitaeten statt. Daraus ergibt sich auch, dass die Unterrichtssprache durchgaengig Englisch ist. Im Bereich Internationalisierung konnte außerdem mit der Universität Bologna, die einen Master in Quantitative Finance anbietet, ein Double Degree Abkommen abgeschlossen werden
Das Ziel von ARIMA besteht darin, den Studierenden ein umfassendes Verstaendnis ueber die Zusammenhaenge zwischen Asset- und Risikomanagement im Finanzbereich zu vermitteln.
Die AbsolventInnen erhalten eine fundierte Ausbildung im Risikomanagement (Quantifizierung von Risiken, Risikoaggregation; integrierte Steuerung von Banken und Versicherungen etc.) und Asset Management (Assetklassen, Portfolioselektion, Asset Liability Management, etc.). Hinzu treten methodisch-analytische Kenntnisse und Fertigkeiten, vor allem in Finanzmathematik und Statistik.
Voraussetzungen zur Teilnahme am Masterprogramm:
Im Anschluss an ein wirtschafts-, sozial-, natur- oder rechtswissenschaftliches oder technisches Studium einer Universitaet oder Fachhochschule kann der vier Semester umfassende und berufsbegleitend organisierte Masterstudiengang ARIMA absolviert werden.
Weiters muessen besuchte Lehrveranstaltungen im Bereich Mathematik/Statisitk und Wirtschaftswissenschaften nachgewiesen werden.
Aufnahmeverfahren:
Formales Kriterium fuer die Teilnahme am Aufnahmeverfahren ist eine schriftliche Bewerbung bis spaetestens 15. Juni 2012.
Das Aufnahmeverfahren selbst besteht aus einem strukturierten Interview (kurze Praesentation zu einem aktuellen Finanzthema auf Englisch und zusaetzliche Fragen zur Motivation fuer die Bewerbung) und einem Multiple-Choice Test. Die Literatur fuer den MC-Test kann von der homepage der FH des bfi Wien heruntergeladen werden. Der MC-Test findet am 26. Juni 2012 statt. Die strukturierten Interviews werden von Mitte Mai bis Ende Juni gefuehrt.
Lektorenpool aus dem wissenschaftlichen und berufsrelvanten Bereich:
Um einerseits theoretische Grundlagen zu vermitteln und andererseits die Anwendung der Theorie in der Praxis aufzuzeigen, konnten namhafte Lektoren aus diesen Bereichen fuer eine Vortragstaetigkeit in ARIMA gewonnen werden. Beispielshaft seien das IHS, die TU Wien, Oesterreichische Grossbanken und die OeNB genannt.
Wir hoffen, Ihr Interesse fuer den neuen Studiengang geweckt zu haben und wuerden uns sehr freuen, wenn Sie dieses Schreiben an weiterbildungsinteressierte Personen in Ihrem Unternehmen weiterleiten wuerden. Fuer weitere Fragen stehen wir Ihnen gerne zur Verfuegung (silvia.helmreich(a)fh-vie.ac.at) oder besuchen Sie unsere homepage:
http://www.fh-vie.ac.at/en/Degree-Programmes/Master/Quantitative-Asset-and-…
Mit freundlichen Gruessen
Prof.in (FH) Mag.a Silvia Helmreich
Studiengangsleiterin ARIMA
Fachhochschule des bfi Wien GmbH
Wohlmutstrasse 22
1020 Wien
Tel.: +43 1 7201286 - 972
e-mail: silvia.helmreich(a)fh-vie.ac.at
http://www.fh-vie.ac.at
P.S.: die Kosten des Masterstudienganges betragen EUR 363,36 im Semester.
________________________________
Firmenwortlaut: Fachhochschule des bfi Wien Gesellschaft m.b.H
Firmenbuchnummer: 148597 a
Firmenbuchgericht: Handelsgericht Wien
Firmensitz: Wohlmutstraße 22, 1020 Wien
This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e-mail transmission. If verification is required please request a hard-copy version.
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft
veranstaltet gemeinsam mit der TU Wien, Institut für
Managementwissenschaften, Abt. Finanzwirtschaft und
Controlling, den
28. WORKSHOP
First CALL for PAPERS
Der Workshop findet am Freitag, dem 22. November 2013, nachmittags, und am
Samstag, dem 23. November 2013, vormittags, an der TU Wien statt.
Bezüglich der Themen ist keine Einschränkung vorgesehen.
Papers oder Extended Abstracts (ca. zwei Seiten) können bis spätestens 15.
Oktober 2013 bei Univ.-Prof. Dr. Wolfgang Aussenegg, Institut für
Managementwissenschaften, Abt. Finanzwirtschaft und Controlling, TU Wien,
Theresianumgasse 27, 1040 Wien oder e-mail: waussen(a)pop.tuwien.ac.at
eingereicht werden.
Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, können
Papers durch einen Discussant besprochen werden. Jene Teilnehmer, die eine
solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 1.
Oktober 2013 einzureichen.
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 (Auswahl): Arbitrage Pricing – Behavioural Finance - Capital
Market Theory – Capital Requirements of Financial - Commercial Banking –
Contingent Claims Analysis – Corporate Finance – Financial Innovations –
Financial Markets Research – Intermediaries – International Banking and
Finance – Investment Banking – Options and Futures – Performance
Measurement – Portfolio Management – Risk Management – Security Analysis.
Am Institut für Bank- und Versicherungswirtschaft der FH JOANNEUM gelangt folgende Stelle zur Ausschreibung:
FH-ProfessorIn
Schwerpunkt Versicherungswirtschaft
Anforderungsprofil:
Gesucht wird eine Persönlichkeit, die über fundierte theoretische Kenntnisse und umfassende Berufserfahrung in qualifizierter/leitender Position in der Versicherungswirtschaft verfügt. Wünschenswert sind Know-how bzw. Projekterfahrung in einem der nachstehenden Bereiche der Versicherungswirtschaft: Aufsicht und Regulierung, Geschäftsprozessmanagement, Risikomanagement, Versicherungsprodukte für Privat- und Firmenkunden, Versicherungscontrolling und -steuerung, Vertriebsmanagement.
Einstellungsvoraussetzungen sind ein abgeschlossenes einschlägiges Hochschulstudium, eine fünfjährige einschlägige Berufspraxis, von der möglichst drei Jahre außerhalb einer Hochschule ausgeübt worden sein sollen, sowie die besondere Befähigung zu wissenschaftlicher Arbeit, vorzugsweise belegt durch eine Promotion. Darüber hinaus wird ein Nachweis über eine entsprechende pädagogisch-didaktische Eignung erwartet.
Aufgabengebiete:
* Abhaltung von einschlägigen Lehrveranstaltungen im Ausbildungsschwerpunkt Versicherungswirtschaft;
* Betreuung von akademischen Abschlussarbeiten (Bachelor- und Masterarbeiten);
* Akquisition und Durchführung von einschlägigen anwendungsbezogenen Forschungsprojekten;
* Engagement beim Auf- und Ausbau von Kooperationen und Schwerpunkten in Forschung und Lehre am Institut;
* Bereitschaft zur Mitarbeit bei Aufbau und Entwicklung neuer Studiengänge sowie Weiterbildungsangebote des Instituts für Bank- und Versicherungswirtschaft.
Beschäftigungsausmaß: 75 - 100%
Dienstbeginn: Juli 2013
Dienstort: Graz
Ihre schriftliche Bewerbung mit aussagekräftigen Bewerbungsunterlagen schicken Sie bitte unter Angabe der KennnummerKN 820 13 001 bis zum Dienstag, 28. Mai 2013 an:
FH JOANNEUM Gesellschaft mbH, z. H. Frau Sabrina Maria Auer
Alte Poststraße 147, 8020 Graz, Österreich
Tel: +43 (0)316 54 53-8867, Fax: +43 (0)316 54 53- 98867
E-Mail: SabrinaMaria.Auer(a)fh-joanneum.at
www.fh-joanneum.at/jobs
Nähere Informationen erhalten Sie von:
Dr. Roland Mestel
Leiter Institut für Bank- und Versicherungswirtschaft
Tel: +43 (0)316 5453-7100
FH JOANNEUM Gesellschaft mbH
Rechtsform/Legal form: GmbH
Firmenbuchgericht/Court of registry: Landesgericht für ZRS Graz
Firmenbuchnummer/Company registration: FN 125888 f
DVR: 0813559
UID-Nr.: ATU 42361001
REMINDER - INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: APRIL 11 (Thursday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Olivia S. MITCHELL, The Wharton School, University of Pennsylvania https://bepp.wharton.upenn.edu/profile/719/
Title: " FINANCIAL LITERACY AND RETIREMENT PLANNING: IMPLICATIONS FOR THE FINANCIAL MARKETPLACE AND POLICY "
ABSTRACT:
Recent research suggests that levels of financial literacy are woefully low around the world. Professor Mitchell evaluates a number of surveys about workers' financial knowledge and explores the causal links with asset accumulation and decumulation. She concludes with an assessment of "what works" to enhance financial literacy.
ABOUT OLIVIA S. MITCHELL:
Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor at the Wharton School, as well as Professor of Insurance/Risk Management and Business Economics/Policy; Executive Director of the Pension Research Council; and Director of the Boettner Center on Pensions and Retirement Research; all at the Wharton School of the University of Pennsylvania. Concurrently Dr. Mitchell serves as a Research Associate at the NBER; as an independent director on the Wells Fargo Advantage Fund Trusts Board; and as Co-Investigator for the Health and Retirement Study at the University of Michigan and Associate Director of the Financial Literacy Center, a RAND/Wharton/Dartmouth Consortium. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and public finance. She was awarded and won numerous prizes including the Paul Samuelson Award for "Outstanding Writing on Lifelong Financial Security" from TIAA-CREF for her Social Security reform study. She received the MA and PhD degrees in Economics from the University of Wisconsin-Madison, and the BA in Economics from Harvard University. Author of more than 25 books and numerous articles, she speaks Spanish and Portuguese, having lived and worked in Latin America, Europe, and Australasia.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics Mag. Dorothea GRIMM www.gutmann-center.at
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: APRIL 11 (Thursday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Olivia S. MITCHELL, The Wharton School, University of Pennsylvania https://bepp.wharton.upenn.edu/profile/719/
Title: " FINANCIAL LITERACY AND RETIREMENT PLANNING: IMPLICATIONS FOR THE FINANCIAL MARKETPLACE AND POLICY "
ABSTRACT:
Recent research suggests that levels of financial literacy are woefully low around the world. Professor Mitchell evaluates a number of surveys about workers' financial knowledge and explores the causal links with asset accumulation and decumulation. She concludes with an assessment of "what works" to enhance financial literacy.
ABOUT OLIVIA S. MITCHELL:
Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor at the Wharton School, as well as Professor of Insurance/Risk Management and Business Economics/Policy; Executive Director of the Pension Research Council; and Director of the Boettner Center on Pensions and Retirement Research; all at the Wharton School of the University of Pennsylvania. Concurrently Dr. Mitchell serves as a Research Associate at the NBER; as an independent director on the Wells Fargo Advantage Fund Trusts Board; and as Co-Investigator for the Health and Retirement Study at the University of Michigan and Associate Director of the Financial Literacy Center, a RAND/Wharton/Dartmouth Consortium. Dr. Mitchell's main interests are public and private pensions, insurance and risk management, financial literacy, and public finance. She was awarded and won numerous prizes including the Paul Samuelson Award for "Outstanding Writing on Lifelong Financial Security" from TIAA-CREF for her Social Security reform study. She received the MA and PhD degrees in Economics from the University of Wisconsin-Madison, and the BA in Economics from Harvard University. Author of more than 25 books and numerous articles, she speaks Spanish and Portuguese, having lived and worked in Latin America, Europe, and Australasia.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics Mag. Dorothea GRIMM www.gutmann-center.at
To: vfn-l(a)fam.tuwien.ac.at
INVITATION
6th Financial Risks International Forum
LIQUIDITY RISK
Paris, March 25 & 26 2013
The Louis Bachelier "Finance and Sustainable Growth" Laboratory is pleased to invite you to the 6th Financial Risks International Forum. In the current context, this year's forum will focus on "LIQUIDITY RISK". Papers will address topics such as:
- Market Liquidity;
- Funding Liquidity and Counterparty Risk;
- Liquidity and Regulation;
- Asset Management with Illiquid Assets;
- Intraday Liquidity and Optimal Execution;
- Investor's Behavior in Liquidity Crises.
The aim of this event is to showcase the very best of international research, selected by our international scientific committee, chaired by Marie BRIERE - Amundi, Paris Dauphine University and Université Libre de Bruxelles -. Panel sessions will be led by industry professionals, with workshops that encourage dialog among researchers and working financial professionals. The scientific committee's rigorous requirements, combined with the outstanding quality of the papers, ensure an event meets the highest level of international standards.
The forum will take place on March 25 and 26, 2013 at the Paris Ile-de-France regional chamber of commerce and industry / Chambre de commerce et d'industrie de région Paris Ile-de-France.
Click here for the most recent agenda:
http://www.financialrisksforum.com/cgi-bin/viewlink?k=67685055&r=141363902
If you would like to join us for interactive debates, please kindly register online: http://www.financialrisksforum.com/cgi-bin/viewlink?k=67685055&r=141367998
INVITATION - REMINDER
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
Spängler IQAM Invest Round Table
DATE:
March 14, 2013 - 04:30 pm
SPEAKER:
Prof. Dr. Franklin ALLEN, Wharton School, University of Pennsylvania
TOPIC:
"IS US GOVERNMENT DEBT DIFFERENT?
EFFECTS OF THE US DEBT CRISIS ON GLOBAL FINANCIAL MARKETS"
ABSTRACT:
The skyrocketing U.S. government debt, the standoff over the statutory debt limit between the Congress and the President of the United States, underlines the urgent need to consider the unthinkable: default, restructuring, or a wholesale reassessment of the U.S. Treasury securities' place in the world. Franklin Allen presents major results from his recently published book "Is US Government Debt Different?", that contains contributions by economists, historians, lawyers, market participants, and policy makers. He will discuss different aspects of U.S. government debt, including its role in the global financial markets, its constitutional, statutory and contractual basis, and its sustainability. Having laid the conceptual foundation, Professor Allen will also present a thought experiment, mapping out options for a hypothetical U.S. debt restructuring.
ABOUT FRANKLIN ALLEN:
Franklin Allen is the Nippon Life Professor of Finance and Professor of Economics at the Wharton School of the University of Pennsylvania. He has been on the faculty since 1980. He is currently Co- Director of the Wharton Financial Institutions Center. He was formerly Vice Dean and Director of Wharton Doctoral Programs and Executive Editor of the Review of Financial Studies, one of the leading academic finance journals. He is a past President of the American Finance Association, the Western Finance Association, the Society for Financial Studies, and the Financial Intermediation Research Society, and a Fellow of the Econometric Society. He received his doctorate from Oxford University. Dr. Allen's main areas of interest are corporate finance, asset pricing, financial innovation, comparative financial systems, and financial crises. He is a co-author with Richard Brealey and Stewart Myers of the eighth through tenth editions of the textbook Principles of Corporate Finance.
Further information about Franklin Allen: http://finance.wharton.upenn.edu/~allenf/
REGISTRATION IS REQUIRED. WE KINDLY ASK YOU TO REGISTER AT vsam(a)wu.ac.at
LOCATION:
WU Institute for Finance, Banking and Insurance Heiligenstädter Str. 46-48, 1190 Wien - Seminar Room 1 (Ground Floor)
Contact and further information:
WU
Institute for Finance, Banking and Insurance att. Martina Schlichting Heiligenstädter Str. 46-48
1190 Vienna
Phone: +43-1-31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
---------- Forwarded message ----------
Date: Sun, 03 Mar 2013 00:43:42 +0100
From: summerschoolmathfi <summerschoolmathfi(a)cmap.polytechnique.fr>
To: (multiple recipients)
Subject: Conference
(...)
Dear colleagues,
we would like to inform you about the workshop on
Stochastic Methods in Finance and Physics
http://www.acmac.uoc.gr/SMFP2013/
that will take place in Heraklion, Crete from 15 until 19 July 2013.
The workshop will consist of mini-courses and talks around the following topics:
Interacting agents and equilibrium models, numerical methods for SPDEs, rough
stochastic PDEs, probabilistic interaction models, metastabilty and
condensation.
The following speakers have agreed to deliver a mini-course or a talk:
Jean?Dominique Deuschel (TU Berlin)
Alexandre Gaudillière (Marseille)
Stefan Grosskinsky (Warwick)
Ulrich Horst (HU Berlin)
Michael Kupper (Konstanz)
Claudio Landim (Rio de Janeiro)
Elena Sartori (Padova)
Josef Teichmann (ETH Zürich)
Dimitrios Tsagkarogiannis (Crete)
Hendrik Weber (Warwick)
Thaleia Zariphopoulou (Oxford)
Nikolaos Zygouras (Warwick)
There will also be short talks and posters presented by young researchers.
Partial financial support is available. The deadline for submissions is 15 April
2013.
http://www.acmac.uoc.gr/SMFP2013/submissions.php
Best regards,
Claudio Landim, Peter Friz, Michalis Loulakis, Antonis Papapantoleon
INVITATION
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
Spängler IQAM Invest Round Table
DATE:
March 14, 2013 - 04:30 pm
SPEAKER:
Prof. Dr. Franklin ALLEN, Wharton School, University of Pennsylvania
TOPIC:
"IS US GOVERNMENT DEBT DIFFERENT?
EFFECTS OF THE US DEBT CRISIS ON GLOBAL FINANCIAL MARKETS"
ABSTRACT:
The skyrocketing U.S. government debt, the standoff over the statutory debt limit between the Congress and the President of the United States, underlines the urgent need to consider the unthinkable: default, restructuring, or a wholesale reassessment of the U.S. Treasury securities' place in the world. Franklin Allen presents major results from his recently published book "Is US Government Debt Different?", that contains contributions by economists, historians, lawyers, market participants, and policy makers. He will discuss different aspects of U.S. government debt, including its role in the global financial markets, its constitutional, statutory and contractual basis, and its sustainability. Having laid the conceptual foundation, Professor Allen will also present a thought experiment, mapping out options for a hypothetical U.S. debt restructuring.
ABOUT FRANKLIN ALLEN:
Franklin Allen is the Nippon Life Professor of Finance and Professor of Economics at the Wharton School of the University of Pennsylvania. He has been on the faculty since 1980. He is currently Co- Director of the Wharton Financial Institutions Center. He was formerly Vice Dean and Director of Wharton Doctoral Programs and Executive Editor of the Review of Financial Studies, one of the leading academic finance journals. He is a past President of the American Finance Association, the Western Finance Association, the Society for Financial Studies, and the Financial Intermediation Research Society, and a Fellow of the Econometric Society. He received his doctorate from Oxford University. Dr. Allen's main areas of interest are corporate finance, asset pricing, financial innovation, comparative financial systems, and financial crises. He is a co-author with Richard Brealey and Stewart Myers of the eighth through tenth editions of the textbook Principles of Corporate Finance.
Further information about Franklin Allen: http://finance.wharton.upenn.edu/~allenf/
REGISTRATION IS REQUIRED. WE KINDLY ASK YOU TO REGISTER AT vsam(a)wu.ac.at
LOCATION:
WU Institute for Finance, Banking and Insurance Heiligenstädter Str. 46-48, 1190 Wien - Seminar Room 1 (Ground Floor)
Contact and further information:
WU
Institute for Finance, Banking and Insurance att. Martina Schlichting Heiligenstädter Str. 46-48
1190 Vienna
Phone: +43-1-31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
---------- Forwarded message ----------
Date: Fri, 15 Feb 2013 12:28:48 +0100
From: ROHRINGER Gabriela <Gabriela.Rohringer(a)unicreditgroup.at>
Subject: Leopold Gratz-Stipendium 2013/2014
Sehr geehrte Damen und Herren,
die "Leopold Gratz-Stiftung" hat in Kooperation mit der Bank Austria
und der UniCredit & Universities Foundation zur Erinnerung an den
ehemaligen Bürgermeister von Wien, Leopold Gratz -analog dem
vergangenen Jahr - wieder die Vergabe eines Stipendiums
ausgeschrieben. Das Stipendium ist darauf ausgerichtet, für einen
Studenten ein PhD oder MSc Programm an einer österreichischen
Universität in den Bereichen Wirtschaft, Bank und Finanzen zu fördern.
(...) Bitte beachten Sie, dass nur Master/Diplom Studenten und
Doktoranden in Österreich angesprochen sind.
Mit freundlichen Grüßen
Dr. Alvin Krauss e.h. Gabriela Rohringer e.h.
Sekretär der "Leopold Gratz-Stiftung"
(...)
[Das PDF-Attachment wurde vom list-admin gelöscht, da alle relevanten
Information offenbar on-line verfügbar sind unter
http://www.unicreditanduniversities.eu/de/fellow/show/fellow_id/4 ]
The Faculty of Business and Economics of the University of Lausanne (HEC
Lausanne, www.hec.unil.ch <http://www.hec.unil.ch/>) invites
applications for a full-time position of
*Full Professor or Tenure-track Assistant Professor in Actuarial Science*
Starting on August 1^st , 2013 or a mutually agreed upon date.
The new professor will be a member of HEC Lausanne's Department of
Actuarial Science.
Candidates must hold a PhD in actuarial science or a related discipline.
We seek applicants with a strong research and teaching potential in
actuarial science.
A job description is available at: www.hec.unil.ch/candidatures/offres
<http://www.hec.unil.ch/candidatures/offres>.
Applications should be submitted online using the above link by *April
13,* *2013*. Please fill in the electronic form, upload a curriculum
vitae and a motivation letter with a statement of research interests, as
well as a list of publications and samples of scholarly work, and
provide the names and addresses of three references.
Additional information may be obtained from Professor François Dufresne,
Director of the Department of Actuarial Science (DSA), HEC Lausanne,
Bâtiment Extranef, CH-1015 Lausanne-Dorigny, Francois.Dufresne(a)unil.ch
<mailto:Francois.Dufresne@unil.ch>.
The University of Lausanne promotes access of women to academic
positions and strongly encourages them to apply.
Dear Colleagues,
Registration for the
Sixth European Summer School in Financial Mathematics
is now open. Important deadlines: For financial support applications should
be submitted by April 15, 2013. Registration closes on June 30, 2013.
This year the summer school will take place in Vienna (Campus of the Vienna
University) from August 26 to 30, 2013.
All the details are on the web site
http://www.mat.univie.ac.at/~finance_hp/summer_school_Vienna_2013/index.html
Please circulate this announcement.
Yours sincerely,
The organizing committee
Beatrice Acciaio, Mathias Beiglböck, Christa Cuchiero, Christoph
Czichowsky, Walter Schachermayer, Pietro Siorpaes
We are glad to announce a summer school on
"Numerical Methods for Stochastic Differential Equations"
which will take place from 2-4 September, 2013, at Vienna University of
Technology, Austria.
The summer school aims to bring together talented young researchers in
the field of (stochastic) differential equations and computational
finance, mainly in their first PhD year.
In a series of four lectures, each of four renowned international
experts will give an introduction and present new numerical results. The
topics of the summer school include Monte-Carlo methods, numerical
techniques for stochastic (partial) differential equations, error
estimation, and applications in sciences and finance. The following
speakers have confirmed to present mini-courses:
• Evelyn Buckwar (Linz, Austria)
• Desmond Higham (Strathclyde, United Kingdom)
• Andreas Rößler (Lübeck, Germany)
• Gabriel Lord (Edinburgh, United Kingdom) (*)
(*) to be confirmed
For further information, please see
http://www.asc.tuwien.ac.at/~juengel/sde/sde.html
Organizers:
Bertram Düring, University of Sussex, Brighton, UK
Ansgar Jüngel, Vienna University of Technology, Austria
*First Announcement
**26th International Summer School of the Swiss Association of Actuaries
*Topic: *Enterprise Risk Management
*Teachers: Prof. *Stéphane Loisel* and *David N Ingram*,**CERA, FRM,
PRM, FSA, MAAA
Location: University of Lausanne, Switzerland
Dates: 3-7 June 2013
Registration is now open on the web site www.saa-iss.ch
<http://www.saa-iss.ch/> .
Please inform all colleagues you know who might be interested.
Best regards,
François Dufresne
SAA ISS Organizing Director
First announcement:
Workshop on Current Topics in Mathematical Finance 2013, Vienna, April
18 and 19, 2013.
Confirmed Invited Speakers:
Michal Barski, Universität Leipzig
Dirk Becherer, HU Berlin
Tomas Björk, Stockholm School of Economics
Rama Cont, Imperial College London
Stephane Crepey, Université d'Evry
Martin Larsson EPFL Lausanne
Eva Lütkebohmert, Universität Freiburg
Andrea Macrina, University College London
Michael Monoyios, University of Oxford
Agatha Murgoci, Copenhagen Business School
Walter Schachermayer, Universität Wien
Thorsten Schmidt, TU Chemnitz
Location: WU Vienna University of Economics and Business,
Department of Finance, Accounting and Statistics,
Heiligenstädter Str 46,
A-1190 Vienna
Conference Chair: Prof. Rüdiger Frey
Organisational details: Participation is free but there is a mandatory
registration. Interested participants have the opportunity to present a
poster.
Further information can be found at the
workshop homepage: http://mafin2013.wu.ac.at (online on 1.2.2013)
--
Prof. Ruediger Frey
Institute for Statistics and Mathematics
WU Vienna
email: ruediger.frey(a)wu.ac.at
web: http://statmath.wu.ac.at/~frey/
REMINDER - INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: JANUARY 22 (Tuesday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Giovanna NICODANO, University of Torino
http://sites.carloalberto.org/nicodano/
Title: "THE ECONOMIC VALUE OF TIMING BULL AND BEAR MARKETS"
ABSTRACT:
Risk-adjusted profits of portfolio managers derive from their ability in forecasting returns out-of-sample. Recently, several papers cast doubts on prevailing linear methods for predicting out-of-sample. These doubts are reinforced by the difficulty of optimizing strategies in obtaining out-of-sample gains relative to a naïve equally-weighted strategy. This presentation examines the ex-post performance of optimal portfolios using returns predicted by a switching regression model. Due to the investor's ability to anticipate shifts from bull to bear markets, predictability involves the risk premium, volatility and correlations, and may extend to third and fourth moments. The out-of-sample performance of these timing strategies is assessed for horizons ranging from one month to ten years using three different equity datasets, including the commonly used US Industry and International Book-to-Market portfolios.
ABOUT GIOVANNA NICODANO:
Giovanna Nicodano is professor of financial economics at the University of Torino, chair of the Masters Programs in Economics and Finance, and fellow at Collegio Carlo Alberto. A recipient of the European Investment Bank Prize, she obtained her Ph.D. from Princeton University. She has been a visiting scholar at CEMFI Madrid, the London School of Economics and the Universities of Amsterdam, Freiburg and Haifa. Her research deals with strategic asset allocation, corporate finance and market liquidity. As a founder of the Centre for Research on Pension (CeRP), she initiated a research project on Asset Classes for Long Run Investors - with publications in the Annals of Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. Since 2008 she is international fellow of the Dutch Network for Studies on Pensions, Aging and Retirement (Netspar). She is research associate of the Brussels-based European Corporate Governance Institute (ECGI), and her work in corporate finance, focusing on complex structures such as business groups, has been published in the European Economic Review, the Journal of Banking and Finance and the Journal of Public Economics. Finally, her work on market liquidity was published in the Journal of Finance, the Review of Finance and the Journal of Banking and Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at
INVITATION
The WU Institute for Finance, Banking and Insurance and Spängler IQAM Invest are pleased to invite you to a
SPÄNGLER IQAM INVEST ROUND TABLE
(apologies for duplicated mails!)
DATE: January 17, 2013 - 04:30 pm
SPEAKER: Prof. Dr. Terrance ODEAN, University of California, Berkeley
TOPIC: "DO BEHAVIORAL BIASES LEAD TO UNRECOGNIZED RISK-TAKING?"
ABSTRACT:
Professor Odean will discuss how behavioral biases can lead to unrecognized risk taking by financial institutions. Financial models often exacerbate risk taking due to unrecognized substitution, aggregation, and feedback risks. Success may lead money managers and traders to become overconfident and to overuse leverage. The use leverage by some institutions can increase risks to others. Limited attention and decision biases such as the availability bias distort our perceptions of probability. Emotions change our attitudes toward risk. And confirmation bias leads us to underestimate the likelihood that things will go wrong.
ABOUT TERRANCE ODEAN:
Terrance Odean is the Rudd Family Foundation Professor and Chair of the Finance Group at the Haas School of Business at the University of California, Berkeley. He is a member of the Journal of Investment Consulting editorial advisory board, of the Russell Sage Behavioral Economics Roundtable, of the Russell Investments Academic Advisory Board, and of the WU Gutmann Center Academic Advisory Board at the Vienna University of Economics and Business. He has been an editor and an associate editor of the Review of Financial Studies, an associate editor of the Journal of Finance, a co-editor of a special issue of Management Science, an associate editor at the Journal of Behavioral Finance, a director of UC Berkeley's Experimental Social Science Laboratory, a visiting professor at the University of Stavanger, Norway, and the Willis H. Booth Professor of Finance and Banking. As an undergraduate at Berkeley, Odean studied Judgment and Decision Making with the 2002 Nobel Laureate in Economics, Daniel Kahneman. This led to his current research focus on how psychologically motivated decisions affect investor welfare and securities prices. His research has been cited in the Wall Street Journal, the New York Times, the Los Angeles Times, the Washington Post, the International Herald Tribune, Time, Newsweek, U.S. News and World Report, Forbes, Businessweek, and several other publications.
Further information about Terrance Odean: www.odean.org
**REGISTRATION IS REQUIRED at vsam(a)wu.ac.at**
LOCATION:
WU Institute for Finance, Banking and Insurance
Heiligenstädter Str. 46-48, 1190 Wien - Seminar Room 1 (Ground Floor)
Contact and further information:
WU
Institute for Finance, Banking and Insurance
att. Martina Schlichting
Heiligenstädter Str. 46-48
1190 Vienna
Phone: +43-1-31336 6315
Mail: vsam(a)wu.ac.at
Web: http://www.wu.ac.at/finance/coop/vsam
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: JANUARY 22 (Tuesday), 2013 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Giovanna NICODANO, University of Torino
http://sites.carloalberto.org/nicodano/
Title: "THE ECONOMIC VALUE OF TIMING BULL AND BEAR MARKETS"
ABSTRACT:
Risk-adjusted profits of portfolio managers derive from their ability in forecasting returns out-of-sample. Recently, several papers cast doubts on prevailing linear methods for predicting out-of-sample. These doubts are reinforced by the difficulty of optimizing strategies in obtaining out-of-sample gains relative to a naïve equally-weighted strategy. This presentation examines the ex-post performance of optimal portfolios using returns predicted by a switching regression model. Due to the investor's ability to anticipate shifts from bull to bear markets, predictability involves the risk premium, volatility and correlations, and may extend to third and fourth moments. The out-of-sample performance of these timing strategies is assessed for horizons ranging from one month to ten years using three different equity datasets, including the commonly used US Industry and International Book-to-Market portfolios.
ABOUT GIOVANNA NICODANO:
Giovanna Nicodano is professor of financial economics at the University of Torino, chair of the Masters Programs in Economics and Finance, and fellow at Collegio Carlo Alberto. A recipient of the European Investment Bank Prize, she obtained her Ph.D. from Princeton University. She has been a visiting scholar at CEMFI Madrid, the London School of Economics and the Universities of Amsterdam, Freiburg and Haifa. Her research deals with strategic asset allocation, corporate finance and market liquidity. As a founder of the Centre for Research on Pension (CeRP), she initiated a research project on Asset Classes for Long Run Investors - with publications in the Annals of Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. Since 2008 she is international fellow of the Dutch Network for Studies on Pensions, Aging and Retirement (Netspar). She is research associate of the Brussels-based European Corporate Governance Institute (ECGI), and her work in corporate finance, focusing on complex structures such as business groups, has been published in the European Economic Review, the Journal of Banking and Finance and the Journal of Public Economics. Finally, her work on market liquidity was published in the Journal of Finance, the Review of Finance and the Journal of Banking and Finance.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at
<http://caleis.fr/ilb/mms2012/savethedate/images/header.png>
<http://caleis.fr/ilb/mms2012/savethedate/images/visu.jpg>
Dear Colleague,
After the success of the first edition of "Market Microstructure:
confronting many viewpoints" in December 2010, we have decided to organize
the second edition, again in Paris, from Monday 10th of December, 2012 to
Thursday the 13th.
<http://caleis.fr/ilb/mms2012/savethedate/images/hr.png>
We believe that an important aspect of this success was the
cross-disciplinary nature of the conference that we will again heavily rely
on this time around. Well known experts from various fields (finance,
econometrics; computer science and (econo-)physics), coming from academic
institutions, government agencies, banks and hedge funds, have accepted to
come and confront their ideas about several important issues that appeared
in the last few years. These include both theoretical and practical
problems, ranging from execution costs and price impact to high-frequency
data, high-frequency trading and market stability.
HIGHLIGHTS
Themes
- Microstructure
- Market Impact
- Market Design/Regulation
- Data Analysis
Among the speakers
- KYLE Albert, University of Maryland
- HENDERSHOTT Terrence, University of California
- LIONS Pierre-Louis, Collège de France
- HASBROUCK Joel, Stern School of Business, New York University
View program
<http://market-microstructure.institutlouisbachelier.org/> Learn more about
this event
Information about the details of the conference, the list of confirmed
speakers and a preliminary program...
<http://caleis.fr/ilb/mms2012/savethedate/images/hr.png>
We strongly believe that this event will be as exciting as the previous one,
and trust that your participation is a key ingredient to this success.
Best regards,
The organization committee
F Abergel, JP Bouchaud, Th Foucault, C. Lehalle and M Rosenbaum
<http://www.institutlouisbachelier.org/>
Cyril Armange
Head of Project
---------------
Institut Louis Bachelier
Palais Brongniart
28, place de la Bourse
75002 Paris
Tél: +33 1 73 01 93 40
Fax: +33 1 73 01 93 28
Web: cyril.armange(a)institutlouisbachelier.org
<http://www.institutlouisbachelier.org/cgi-bin/viewimg?k=209144511&r=1889553
26>
Sehr geehrte Damen und Herren,
ich möchte Sie auf folgende Stellenausschreibung an der Technischen
Universität hinweisen:
1 Stelle für eine/n vollbeschäftigte/n Projektassistenten/in (40
Wochenstunden) am Institut für Managementwissenschaften, Fachbereich
Finanzwirtschaft und Controlling, ehestmöglich bis 30. September 2014,
Gehaltsgruppe B1
Das monatliche Mindestgehalt für diese Verwendung beträgt derzeit EUR
2.532,00 brutto (14x jährlich). Aufgrund tätigkeitsbezogener
Vorerfahrungen kann sich das Entgelt erhöhen.
Aufnahmebedingungen: abgeschlossenes Magister-, Diplom-, Masterstudium
der Fachrichtung Wirtschaftsingenieurwesen Maschinenbau,
Wirtschaftsinformatik, Betriebswirtschaftslehre oder Mathematik
Sonstige Kenntnisse: gute Kenntnisse der Finanzwirtschaft, insbesondere
der Ökonometrie und des aktiven Portofoliomanagements
Bewerbungsfrist: bis 7. November 2012
Bewerbungen schriftlich oder per E-Mail (rene.fuchs(a)tuwien.ac.at
<mailto:rene.fuchs@tuwien.ac.at>) an die Personaladministration,
Fachbereich wiss. Personal der Technischen Universität Wien, Karlsplatz
13, 1040 Wien.
Die Bewerber und Bewerberinnen haben keinen Anspruch auf Abgeltung
angefallener Reise- und Aufenthaltskosten, die aus Anlass des
Aufnahmeverfahrens entstanden sind.
--
Mit besten Grüßen / best regards
Susanna Hammer
Office Management
Technische Universität Wien
Vienna University of Technology
Institut für Managementwissenschaften
Institute of Management Science
Bereich Finanzwirtschaft und Controlling
Department Finance and Corporate Control
Theresianumg. 27
A - 1040 Wien/Vienna
Austria
Tel +43 1 58801 33006
Fax +43 1 58801 33096
susanna.hammer(a)tuwien.ac.at
http://www.imw.tuwien.ac.at/fc/home/
DVR 0005886
----------------------
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: OCTOBER 10 (Wednesday), 2012 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Stefan NAGEL, Graduate School of Business, Stanford University
http://faculty-gsb.stanford.edu/nagel/
Title: “GREAT EXPECTATIONS, BIG DISAPPOINTMENTS: CYCLES IN SUBJECTIVE ASSET RETURN EXPECTATIONS”
ABSTRACT:
Recurrent boom/bust episodes in financial markets and the macroeconomy are challenging for economists to explain. In this talk, I discuss research that examines micro data on portfolio choice and subjective expectations to uncover potential drivers of these boom/bust cycles. A variety of empirical patterns in household asset allocation and in subjective expectations about future stock returns, house prices, and inflation suggest a common underlying expectations-formation mechanism that we label "learning from experience": While individuals continuously refine their forecasts in light of new data, they draw primarily on their own life-time experiences rather than all available historical data in forming their expectations. As a result, memory of past macroeconomic events is gradually lost over time. Extrapolation from life-time experiences generates to pro-cyclical asset return expectations, where rising asset prices fuel optimism, and downturns generate pessimism.
ABOUT STEFAN NAGEL:
Stefan Nagel is an Associate Professor of Finance at Stanford University's Graduate School of Business. He has won various awards and fellowships, among them the Smith-Breeden Prize of the American Finance Association for the best paper in the Journal of Finance in 2004 and the Fama/DFA prize for the best asset pricing paper in the Journal of Financial Economics in 2006 (first prize) and 2010 (second prize). He is a Research Associate at the National Bureau of Economic Research, a Research Fellow at the Centre for Economic Policy Research, an Associate Editor of the Journal of Finance and the Review of Finance, and a former Associate Editor of the Review of Financial Studies. Professor Nagel received his PhD from the London Business School in 2003, and he had been a visiting doctoral student at MIT. Before joining the Stanford GSB in 2004, he spent a year as a lecturer at Harvard University.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at
INVITATION
The WU Gutmann Center cordially invites you to the forthcoming
WU GUTMANN CENTER PUBLIC LECTURE
www.gutmann-center.at
(apologies for duplicated mails!)
****************************************************************************
Date: OCTOBER 10 (Wednesday), 2012 - 4:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
Speaker: Prof. Dr. Stefan NAGEL, Graduate School of Business, Stanford University
http://faculty-gsb.stanford.edu/nagel/
Title: “GREAT EXPECTATIONS, BIG DISAPPOINTMENTS: CYCLES IN SUBJECTIVE ASSET RETURN EXPECTATIONS”
ABSTRACT:
Recurrent boom/bust episodes in financial markets and the macroeconomy are challenging for economists to explain. In this talk, I discuss research that examines micro data on portfolio choice and subjective expectations to uncover potential drivers of these boom/bust cycles. A variety of empirical patterns in household asset allocation and in subjective expectations about future stock returns, house prices, and inflation suggest a common underlying expectations-formation mechanism that we label "learning from experience": While individuals continuously refine their forecasts in light of new data, they draw primarily on their own life-time experiences rather than all available historical data in forming their expectations. As a result, memory of past macroeconomic events is gradually lost over time. Extrapolation from life-time experiences generates to pro-cyclical asset return expectations, where rising asset prices fuel optimism, and downturns generate pessimism.
ABOUT STEFAN NAGEL:
Stefan Nagel is an Associate Professor of Finance at Stanford University's Graduate School of Business. He has won various awards and fellowships, among them the Smith-Breeden Prize of the American Finance Association for the best paper in the Journal of Finance in 2004 and the Fama/DFA prize for the best asset pricing paper in the Journal of Financial Economics in 2006 (first prize) and 2010 (second prize). He is a Research Associate at the National Bureau of Economic Research, a Research Fellow at the Centre for Economic Policy Research, an Associate Editor of the Journal of Finance and the Review of Finance, and a former Associate Editor of the Review of Financial Studies. Professor Nagel received his PhD from the London Business School in 2003, and he had been a visiting doctoral student at MIT. Before joining the Stanford GSB in 2004, he spent a year as a lecturer at Harvard University.
**Please REGISTER**:
Mail: gutmann-center(a)wu.ac.at
Phone: +43-1-31336-4244
CONTACT AND FURTHER INFORMATION:
WU Gutmann Center for Portfolio Management
WU (Wirtschaftsuniversität Wien) - Department of Finance, Accounting and Statistics
Mag. Dorothea GRIMM
www.gutmann-center.at
CALL FOR PAPERS / CONFERENCE ANNOUNCEMENT
(apologies for cross-postings!)
WU GUTMANN CENTER SYMPOSIUM 2013
"SOVEREIGN CREDIT RISK AND ASSET MANAGEMENT"
JUNE 11, 2013
WU Gutmann Center for Portfolio Management
WU (Vienna University of Economics and Business), Austria
www.gutmann-center.at
********************************************************************************
The WU Gutmann Center for Portfolio Management is proud to announce its seventh symposium to be held at WU (Vienna University of Economics and Business), Austria.
The general topic of the symposium is "Sovereign Credit Risk and Asset Management".
Papers submitted to the symposium can address but are not restricted to the following
TOPICS:
- Measuring and managing sovereign credit risk
- The implications of sovereign credit risk for asset management
- Sovereign credit risk and the banking sector
- Sovereign credit risk and prudential regulation
- The role of rating agencies
- Sovereign credit risk contagion
- Currency unions
- The political economics of sovereign credit risk
PAPER SUBMISSION:
Papers should be submitted by email (in Acrobat PDF) NOT LATER THAN DECEMBER 15, 2012 to the following address:
E-mail: gutmann-center(a)wu.ac.at
CONTACT:
WU Gutmann Center for Portfolio Management
Dorothea Grimm
WU (Vienna University of Economics and Business)
Heiligenstädter Straße 46-48, 1190 Wien (Vienna), Austria
Phone: +43-1-31336-4244
E-mail: gutmann-center(a)wu.ac.at - Web: http://www.gutmann-center.at/
All submissions will be reviewed by a committee composed of members of the WU Gutmann Center's Academic Advisory Board and decisions will be announced by March 15, 2013.
Submission and participation are free of charge. Accommodation and travel expenses (economy fare) of presenting authors will be covered by the WU Gutmann Center.
ASSISTANT PROFESSOR FOR FINANCE
WU (Vienna University of Economics and Business) is currently inviting applications for the position of an ASSISTANT PROFESSOR (tenure track) in Professor Josef Zechner`s group at the Institute for Finance, Banking and Insurance (www.wu.ac.at/finance<http://www.wu.ac.at/finance>).
RESPONSIBILITIES: Teaching (Bachelor and Master): Finance; Research in Professor Josef Zechner's group in one or several of the following areas: Asset Management, Corporate Finance, Asset Pricing, Banking.
REQUIREMENTS: Doctoral Degree in Economics or Business Administration or equivalent qualification; Research experience in one of the following areas of financial economics: Corporate Finance, Asset Management, Asset Pricing, Risk Management, Banking, or in a related field, e.g. Decision Theory, Corporate Governance, Game Theory. Teaching experience.
Apply using reference number 2079 until September 12,2012 at http://www.wu.ac.at/jobs where a full description of tasks and requirements can be found.
ASSISTANT PROFESSOR FOR FINANCE
WU (Vienna University of Economics and Business) is currently inviting applications for the position of an ASSISTANT PROFESSOR (tenure track) in Professor Josef Zechner`s group at the Institute for Finance, Banking and Insurance (www.wu.ac.at/finance<http://www.wu.ac.at/finance>).
RESPONSIBILITIES: Teaching (Bachelor and Master): Finance; Research in Professor Josef Zechner's group in one or several of the following areas: Asset Management, Corporate Finance, Asset Pricing, Banking.
REQUIREMENTS: Doctoral Degree in Economics or Business Administration or equivalent qualification; Research experience in one of the following areas of financial economics: Corporate Finance, Asset Management, Asset Pricing, Risk Management, Banking, or in a related field, e.g. Decision Theory, Corporate Governance, Game Theory. Teaching experience.
Apply using reference number 2079 until September 12,2012 at http://www.wu.ac.at/jobs where a full description of tasks and requirements can be found.
Sehr geehrte Damen und Herren,
die Fachhochschule des bfi Wien lädt herzlich zum "Solvency II Symposium" am 27. September 2012 ab 14:00 Uhr ein.
Zu Beginn werden ExpertInnen der FH des bfi Wien, der FMA, der KPMG etc. Vorträge zu ausgewählten Themen von Solvency II halten.
Ab 18:00 Uhr gibt es eine Podiumsdiskussion mit dem Präsidenten der österreichischen Aktuarvereinigung Christoph Krischanitz, dem Vorstand der Allianz Mag. Werner Müller, dem stellvertretenden Abteilungsleiter der FMA Mag. Andreas Hell, dem Leiter für Finanzen und Wirtschaft beim Versicherungsverband Mag. Rudolf Diewald und einem Vertreter von KPMG.
Anschließend möchten wir Sie herzlich zum Buffet einladen.
Wir ersuchen Sie, den Tag in Ihrem Terminkalender vorzumerken.
Das detaillierte Programm erhalten Sie im August.
Bei Rückfragen wenden Sie sich bitte an Dipl. Vw. Michael Jeckle (michael.jeckle(a)fh-vie.ac.at).
Mit freundlichen Grüßen,
Ihre FH des bfi Wien
Die Austrian Working Group on Banking and Finance (AWG) der
Österreichischen Bankwissenschaftlichen Gesellschaft veranstaltet gemeinsam
mit der Universität Innsbruck, Institut für Banken und Finanzen, den
27. WORKSHOP
First CALL for PAPERS
Der Workshop findet am Freitag, dem 23. November 2012, nachmittags, und am
Samstag, dem 24. November 2012, vormittags, an der Universität Innsbruck
statt.
Bezüglich der Themen ist keine Einschränkung vorgesehen.
Papers oder Extended Abstracts (ca. zwei Seiten) können bis spätestens 15.
Oktober 2012 bei o.Univ.-Prof. Dr. Matthias Bank, Institut für Banken und
Finanzen, Universität Innsbruck, Universitätsstrasse 15, A-6020 Innsbruck,
oder
e-mail: Matthias.Bank(a)iubk.ac.at
eingereicht werden.
Um den angestrebten Workshop-Charakter der Veranstaltung zu fördern, können
Papers durch einen Discussant besprochen werden. Jene Teilnehmer, die eine
solche Vorgangsweise wünschen, werden gebeten, ihr Manuskript bis 1.
Oktober 2012 einzureichen.
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 (Auswahl): Arbitrage Pricing – Behavioural Finance - Capital
Market Theory – Capital Requirements of Financial - Commercial Banking –
Contingent Claims Analysis – Corporate Finance – Financial Innovations –
Financial Markets Research – Intermediaries – International Banking and
Finance – Investment Banking – Options and Futures – Performance
Measurement – Portfolio Management – Risk Management – Security Analysis.
-------- POSTDOCTORAL POSITION IN MATH FINANCE IN BERLIN
---------------------
Dear Colleagues and friends,
Humboldt-Universität zu Berlin and Technische Universität Berlin invite
applications for two
Postdoctoral/Doctoral Positions in Mathematical Finance/Economics.
The positions are funded jointly by the DFG Research Center Matheon,
Humboldt-Universität and Technische Universität.
Tasks: Candidates will develop and analyze mathematical models for illiquid
financial markets. They will be offered the opportunity of collaborating with
the Quantitative Research Group of Cheuvreux, the brokerage arm of Credit
Agricole. This includes, but is not limited to, the opportunity of a
long-term internship with Cheuvreux in Paris.
Requirements: Successful candidates for the postdoctoral (doctoral) positions
will hold a PhD (Msc, Diploma) in Mathematics, Business Mathematics or
Mathematical Economics with an excellent background in Probability Theory,
Financial Mathematics, Optimization or Economic Theory. A strong interest in
applied research in financial mathematics is expected.
We offer competitive salaries, commensurate with seniority and research
record. The initial appointment for postdoctoral (doctoral) students will be
for two (three) years, with continuation for another year upon performance
and availability of funding. The starting date is flexible.
Applicants should send a CV including a list of publications, preprints,
reprints, statement of research interests and arrange for three (two) letters
of recommendation. Applications should e-mailed to either one of us no later
than July 20, 2012:
mailto:bank@math.tu-berlin.de or
mailto:horst@math.hu-berlin.de
Kind regards,
Peter Bank and Ulrich Horst
Postdoctoral Position
http://www.qfl-berlin.com/newsletter/postdoctoral-position
HAUPTBERUFLICHE/R VORTRAGENDE/R (SENIOR LECTURER)
Im DEPARTMENT FÜR FINANCE, ACCOUNTING AND STATISTICS ist ab sofort bis 31. Dezember 2014 eine Stelle für einen hauptberuflichen Vortragenden/eine hauptberufliche Vortragende post doc (Senior Lecturer) (Angestellte/r gemäß Kollektivvertrag für die Arbeitnehmer/innen der Universitäten, monatliches Entgelt: 3.381,70 € brutto) vollbeschäftigt zu besetzen.
Wir weisen Sie darauf hin, dass der WU-Personalentwicklungsplan für hauptberufliche Vortragende grundsätzlich eine maximale Befristungsdauer von sechs Jahren vorsieht.
AUFGABENGEBIET:
Durchführung von Lehrveranstaltungen im Bachelorstudium in den Spezialisierungen (SBWLs) Finance und/oder Accounting (gesamt max. 8 – 10 Semesterwochenstunden); Planung, Weiterentwicklung, Organisation der SBWLs Finance und Accounting inkl. Bedarfsanalyse sowie Kapazitäts- und Lehrveranstaltungsplanung; inhaltliche und organisatorische Abstimmung der SBWLs innerhalb der Bachelor-Programme der WU; Koordination von externen und internen Lehrenden dieser SBWLs; Zentrale Mitwirkung bei allen Agenden des Qualitätsmanagements in der Lehre des Departments; Organisation der im Department zentral erfolgenden Vergabe der Bachelorarbeiten inkl. Qualitätssicherung in der Betreuung, Unterstützung der wiss. Mitarbeiter/innen in der Themenerstellung, Bedarfsplanung und –kontrolle, Monitoring der dem Department in diesem Bereich vorgegebenen Ziele
Eigenständige Betreuung von Bachelorarbeiten; Aufbau und Weiterentwicklung (fach-)didaktischer Expertise
NOTWENDIGE KENNTNISSE UND QUALIFIKATIONEN:
Abgeschlossenes Doktoratsstudium mit fachlicher Ausrichtung in den Bereichen Finance und/oder Accounting
Erfahrungen in der Lehre an tertiären Bildungseinrichtungen (Universitäten, Fachhochschulen, etc.)
Ausgeprägte Team-, Kommunikations- und Organisationsfähigkeit
ERWÜNSCHTE KENNTNISSE UND QUALIFIKATIONEN:
Fachdidaktische Qualifikation
Kennzahl: 2042
Ende der Bewerbungsfrist: 4. Juli 2012
Bewerbung unter www.wu.ac.at/jobs<http://www.wu.ac.at/jobs>
Daniela Fuchs
Office Finance
Institute for Finance, Banking and Insurance
Department of Finance, Accounting and Statistics
WU
Wirtschaftsuniversität Wien
Vienna University of Economics and Business
Heiligenstädter Straße 46-48, A - 1190 Wien, Austria
[T] 01/31336/4691
[F] 01/31336/904691
[E] daniela.fuchs(a)wu.ac.at<mailto:daniela.fuchs@wu.ac.at>
-------- 4TH BERLIN WORKSHOP ON MATHEMATICAL FINANCE FOR YOUNG RESEARCHERS
---
Dear Colleague,
we are pleased to send you the second announcement of the upcoming
4th Berlin Workshop on Mathematical Finance for Young Researchers,
October 11-13, 2012.
The workshop provides a forum for PhD students, postdoctoral researchers and
young faculty members from all over the world to discuss their research in an
informal atmosphere. Keynote lectures will be given by
Freddy Delbaen (Zurich)
Rüdiger Frey (Vienna)
Steven Shreve (Pittsburgh)
We also invite up to 15 contributed papers from young researchers.
Accommodation expenses for speakers will be covered. The closing date for
submissions to
mailto:finance@math.hu-berlin.de
is June 15th, 2012. Notification of acceptance will be sent by July 15th,
2012. Please visit
http://www.qfl-berlin.de/workshop2012
for further information and (required) registration.
Please forward this announcement to interested students.
With our best regards,
Jana Bielagk, Selim Gökay, Christoph Mainberger
Peter Bank, Peter Friz, Ulrich Horst, Michael Kupper
Young Researcher Workshop Berlin newsletter
http://www.qfl-berlin.com/newsletter/young-researcher-workshop-berlin-newsl…
------------------------------------------------------------------------
On September 17-19-th, 2012, WPI Vienna will host the
2nd International Conference on Energy and Commodities
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The registration is free but mandatory, up to 2 weeks
prior to the event.
Confirmed speakers, so far, include:
Rene' Aid, Electricite' de France
Ole Barndorff-Nielsen, Aarhus University
Matt Davidson, Kyloe Energy
Emanuel Gobet, Ecole Polytechnique, Paris
Ruediger Kiesel, Lehrstuhl, Duisburg
Delphine Lautier, Paris-Dauphine
Brenda-Lopez Cabrera, Humboldt University, Berlin
Peter Tankov, Ecole Polytechnique, Paris
Xavier Warin, Electricite de France, Paris
The organizers are:
Rene Aid, Fred Benth, Valery Kholodnyi,
Peter Laurence, Almut Veraart
The conference is co-funded by
WPI - Wolfgang Pauli Institut,
Electricite de France,
Verbund, Austria.
Registration, via email to:
laurenceWPI(a)gmail.com
Updates will be posted at
http://www.math.nyu.edu/~laurence/Wpi/vienna-Energy-bis.htm
(--> Conference II)
The organizers invite the submission of CONTRIBUTED TALKS.
The University of Innsbruck invites applications for the position of a
*University Professor*
*of*
*Business Administration with a focus on Finance *
at the School of Management, Department of Banking and Finance. The
position will be based on a permanent civil-law employment contract with
the University.
*Responsibilities*
**
The professor shall represent the subject of Business Administration
with a focus on Finance in research and teaching.
The professor isexpected to carry out internationally visible research
-- specifically in the field of Asset Pricing -- and to participate in
the research centre "Financial Markets and Risk".Theoretical, empirical
and experimental approaches are equally welcome. She/He is expected
topublish in internationally well-established peer reviewed journals,
cooperate with international research and/or project partners, and
successfully apply for research grants.
The professor shall teach especially the subject of Finance in the
School's undergraduate, graduate and PhD programs.
Furthermore, the professor is expected to actively participate in the
strategic development of the School of Management and academic
self-government. Some knowledge of German is a plus, but not required.
*Qualification requirements*
**
a)a pertinent degree in higher education in Austria or the equivalent;
b)a pertinent 'Habilitation' or comparable qualification;
c) publications in leading international peer-reviewed academic journals;
d) documented participation in international scholarly discourses;
e) experience in raising third-party funding;
f) excellent teaching skills;
g) international experience in teaching and/or research;
h) ability to lead teams in research and teaching.
Applications should be submitted no later than
*13^th of June 2012*
to Leopold-Franzens-Universität Innsbruck, Fakultäten Servicestelle,
Standort Karl-Rahner- Platz 3, A-6020 Innsbruck
(fss-karlrahnerplatz(a)uibk.ac.at).
The University of Innsbruck is committed to increasing the percentage of
female employees especially in leading positions and therefore
explicitly invites applications by women. In the case of equivalent
qualifications, women will be given preference.
The application should include: CV including a description of the
applicant's scholarly and professional career; list of scientific
publications; list of ongoing and completed research projects (amount of
funding, funding body, duration); planned research activities at the
Department of Banking and Finance; list of courses taught and teaching
evaluations; electronic copies of five significant publications.
The application and all accompanying documents should be submitted
electronically (CDROM or e-mail). Submission as a hardcopy is optional.
The applications will be reviewed internationally; therefore the
application has to be in English.
The basic salary is set down in the collective bargaining agreement for
university employees. Professors are in the remuneration group A 1. For
the position the grosssalary is 63.996,80 Europer year. Depending on
qualification and experience a higher gross salary up to 75.000,- Euro
per year can be a topic in the negotiations with the rector. Beyond that
the university offers attractive additional benefits
(http://www.uibk.ac.at/universitaet/zusatzleistungen/). Additional
personnel will not be provided.
The full, authoritative text in German (published in the official
bulletin of the University of Innsbruck of 2^nd of May
2012),comprehensive information on the School of Management, the
Department of Banking and Finance, and the current state of the
appointment procedure is available at:
http://www.uibk.ac.at/fakultaeten/betriebswirtschaft/career.html.
Univ.-Prof. Dr. Dr. h.c. mult. Tilmann Märk
R e c t o r
