VFN-L

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[VFN] Save the date - book launch Quantitatitive Risk Management with Paul Embrechts and Alex McNeil on 10.6.2015
by Ruediger Frey 26 Mar '15

26 Mar '15

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/

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[VFN] Announcement: 8th European Summer School in Mathematical Finance
by summerschoolmathfi 06 Feb '15

06 Feb '15

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

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[VFN] Conference on "Advanced Modelling in Mathematical Finance"
by Antonis Papapantoleon 26 Jan '15

26 Jan '15

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

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[VFN] Einladung "DER EURO – EINE DISPUTATION" mit HANS-WERNER SINN und EWALD NOWOTNY
by Schlichting, Martina 12 Jan '15

12 Jan '15

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.

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[VFN] World Risk and Insurance Economics Congress 2015 in Munich
by Peter, Richard 30 Dec '14

30 Dec '14

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/>

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[VFN] Call for Papers: WU Gutmann Center Symposium: Retirement and Asset Management
by Alois Geyer 05 Dec '14

05 Dec '14

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/

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[VFN] Conference: Challenges in Derivatives Markets (fwd)
by VFN-L admin * Andreas Schamanek 27 Nov '14

27 Nov '14

---------- 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. ***

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[VFN] INVITATION Nov 12: WU Gutmann Center Public Lecture - Amit Goyal: Is the Cross-Section of Expected Bond Returns Influenced by E
by Alois Geyer 24 Oct '14

24 Oct '14

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

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[VFN] AWG 2014 - program and registration
by Krickl, Sabina 23 Oct '14

23 Oct '14

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>

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[VFN] EINLADUNG zum Investment Seminar am 10. November 2014
by si-researchcenter 13 Oct '14

13 Oct '14

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

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[VFN] CfP: 8th Financial Risks International Forum, Paris, March 30 & 31, 2015
by VFN-L admin * Andreas Schamanek 25 Sep '14

25 Sep '14

| 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. ***

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[VFN] Reminder - Call for Papers AWG 2014
by Krickl, Sabina 24 Sep '14

24 Sep '14

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>

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[VFN] INVITATION Sep 30: WU Gutmann Center Public Lecture - Rob Bauer: Responsible Investing: Risk, Opportunity or Distraction?
by Alois Geyer 12 Sep '14

12 Sep '14

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

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[VFN] Reminder - Call for Papers AWG 2014
by Fuchs, Daniela 08 Sep '14

08 Sep '14

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>

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[VFN] Nomura Research Fellow at Oxford (fwd)
by VFN-L admin * Andreas Schamanek 13 Aug '14

13 Aug '14

---------- 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/26208 https://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/

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[VFN] Call for research projects_Europlace Institute of Finance_Deadline: September 10, 2014 (fwd)
by VFN-L admin * Andreas Schamanek 29 Jul '14

29 Jul '14

---------- 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

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[VFN] Position Announcement - Assistant Professor
by Margarethe Rammerstorfer 29 Jul '14

29 Jul '14

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

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[VFN] 2nd European Actuarial Journal (EAJ) Conference
by Sandra Trenovatz 15 Jul '14

15 Jul '14

+------------------------------------ | | 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

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[VFN] Einladung zu den Kahlenberger Gesprächen
by Margarethe Rammerstorfer 06 Jun '14

06 Jun '14

*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

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[VFN] 2nd European Actuarial Journal (EAJ) Conference & Educational Workshop, Vienna, Austria
by Sandra Trenovatz 26 May '14

26 May '14

+----------------------------------------------- | | 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

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[VFN] REMINDER: Investment Talk Prof. Malcolm P. Baker, June 2nd
by si-researchcenter 22 May '14

22 May '14

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

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[VFN] CALL FOR PAPERS AWG 2014
by Fuchs, Daniela 08 May '14

08 May '14

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.

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[VFN] INVITATION: Investment Talk Prof. Malcolm P. Baker, June 2nd
by Schlichting, Martina 06 May '14

06 May '14

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

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[VFN] Mathematik & Wirtschaft: Veranstaltungen für (Oberstufen-)SchülerInnen
by Sandra Trenovatz 23 Apr '14

23 Apr '14

+------------------------------------------ | | 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 ]

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[VFN] INVITATION Apr 8: WU Gutmann Center Public Lecture - Susan Christoffersen - On the demand for high-beta stocks
by Alois Geyer 24 Mar '14

24 Mar '14

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

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