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[VFN] INVITATION Oct 29: WU Gutmann Center Public Lecture Suleyman Basak LBS: "The Financialization of Commodities"
by gutmann-center＠wu.ac.at 14 Oct '13

14 Oct '13

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

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[VFN] Ausschreibung FH-Professur Bank- und Versicherungswirtschaft
by Mestel Roland 11 Oct '13

11 Oct '13

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

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[VFN] PRisMa 2013: One-Day Workshop on Portfolio Risk Management
by Sandra Trenovatz 12 Sep '13

12 Sep '13

========================================================== 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/

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[VFN] 2nd Call for Papers - Workshop of the AWG
by Wolfgang Aussenegg 30 Aug '13

30 Aug '13

*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

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[VFN] Reminder - Invitation Spängler IQAM Invest Round Table July 2, 2013
by vsam 26 Jun '13

26 Jun '13

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

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[VFN] Invitation Spängler IQAM Invest Round Table July 2, 2013
by vsam 06 Jun '13

06 Jun '13

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

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[VFN] INVITATION June 11: WU Gutmann Center Symposium “SOVEREIGN CREDIT RISK AND ASSET MANAGEMENT”
by Grimm, Dorothea 27 May '13

27 May '13

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

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[VFN] INVITATION June 11: WU Gutmann Center Symposium “SOVEREIGN CREDIT RISK AND ASSET MANAGEMENT”
by Grimm, Dorothea 07 May '13

07 May '13

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

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[VFN] Masterstudiengang "Quantitative Asset and Risk Management" (ARIMA)
by Helmreich, Silvia 03 May '13

03 May '13

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.

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[VFN] 28. Workshop der AWG
by office＠bwg.at 29 Apr '13

29 Apr '13

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.

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