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Summary:
Please help to bring the following position to the attention of suitable candidates:
W1 Junior Professorship in Probability Theory and its Applications,
Humboldt Universität zu Berlin, Deadline September 6.
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Humboldt Universität zu Berlin, Faculty of Mathematics and Natural
Sciences II, Institute of Mathematics, invites applications for the
Junior Professorship in Probability Theory and its Applications
starting in 2009.
The successful candidate will provide leadership in research and teaching
in probability theory, ideally with a research area in stochastic analysis.
Willingness for interdisciplinary cooperation and connections to application areas,
e.g. in mathematical finance and stochastic optimal control theory, is
desired. The research group provides an excellent environment for research
and teaching. It offers rich possibilies to participate in research and
doctoral programs that it is involved in (e.g. the application area
Finance at the DFG Research Center MATHEON, the DFG International Research
Training Group „Stochastic Models of Complex Processes“,
Berlin Mathematical School, and the Quantitative Products Laboratory).
Candidates must fulfill the requirements for junior professorship
appointments according to §102a of the Berliner Hochschulgesetz (BerlHG).
To apply, please send the usual documents (CV, list of publications,
teaching experience, research statement, copies of certificates)
both in paper and in electronic form (pdf-file) to Humboldt Universität zu
Berlin, Mathematisch-Naturwissenschaftliche Fakultät II, Institut für
Mathematik, Geschäftsführender Institutsdirektor, Unter den Linden 6,
D-10099 Berlin, Germany, and to bergmann(at)math.hu-berlin.de; quoting
code number JP/015/08. Deadline for applications is Sept. 6, 2008.
The Humboldt Universität zu Berlin seeks to increase the number of women
in research and teaching. Therefore applications from female candidates
with the qualifications advertised are explicitly solicited. Applications
from abroad are welcome. Severely disabled applicants with equivalent
qualifications will be given preference.
For more detailed infomation, please contact Professor Dr. Dirk Becherer
(becherer(at)math.hu-berlin.de).
Dear All,
Following the invitation to the "Workshop on Incomplete Market Economies
with Production" on July 1-2, 2008, at the Institute for Advanced
Studies I'm attaching the preliminary program for there have been some
minor changes.
[PDF attachment removed by admin since it is available on-line at
http://www.ihs.ac.at/index.php3?id=1100 -- specifically at
http://www.ihs.ac.at/publications/eco/conferences/2008/july1-2-2008-program… ]
Thank you and kind regards,
Marion Kelemen
--
Marion Kelemen
Department of Economics and Finance
Institute for Advanced Studies
A-1060 Vienna
Stumpergasse 56
Austria
Tel: +43/1/59 991-145
Fax: +43/1/59 991-163
Mail: mkelemen(a)ihs.ac.at
http://www.ihs.ac.at
Dear colleague,
attached you will find the CALL for papers for the SPECIAL ISSUE of
JOURNAL of RETAILING to the theme of FRANCHISING. Rajiv Dant, Marko
Grunhagen and I are jointly co-editing this issue.
>
Announcement of EMNet 2009: September 3 - 5, 2009
The forth international conference on Economics and Management of
Networks (EMNet) will take place at the School of Economics and
Business,
University of Sarajevo, Bosnia and Herzegovina (www.efsa.unsa.ba).
The call for papers will be sent out in October.
Conference information will be found at: http://www.univie.ac.at/EMNET
>
Best regards,
Josef Windsperger
CALL FOR PAPERS
Journal of Retailing Special Issue: Franchising and Retailing
Rajiv P. Dant, University of Oklahoma
Marko Grünhagen, Eastern Illinois University
Josef Windsperger, University of Vienna
Special Issue Co-Editors
Franchising is the world’s fastest growing form of retailing. The Journal
of Retailing is proud to announce a Special Issue focused on the
broad-based theme of franchising in retail settings. In this issue, we
hope to feature multidisciplinary franchising research so long as the
authors can relate the manuscript to the context of retailing. Manuscripts
that significantly advance the boundaries of our current knowledge of
franchising, in both single-country and multi-cultural settings, are
equally encouraged. The Special Issue is seeking submissions that provide
new insights into franchising as a vehicle to deliver value to all retail
aspects of a franchise system in the broader sense, such as retail
customers, franchisees, or the broader franchisee-franchisor relationship.
Topics for this Special Issue could include (but are not limited to):
• Examination of relationships critical to the retailer-franchisee beyond
the common fast-food setting
• The role of franchising in shattering the glass ceilings for women and
minorities
• Plural forms theory of franchising
• Cross cultural examination of the ownership redirection thesis
• Consumer research perspectives on franchise service delivery
• Incorporating personality variables into traditionally B2B oriented
franchising research
• Reexamination of franchising research topics using longitudinal data
• Investigation of consolidation pressures and downsizing effects in
franchise systems
• Integration and synthesis of traditional franchise theories in retail
settings
• Cross cultural examination of theoretical frameworks commonly used in
explaining the franchising phenomenon in the North American context (e.g.,
agency theory, resource dependence theory, signaling theory, transaction
cost analysis, property rights theory, etc.)
• Cross country examination of the legal aspects of franchising and its
impact on the evolution of franchising
• Research into the evolution and outcomes of franchise contracts and
their impact on the governance of retail franchise systems
Papers should be submitted to the Journal of Retailing by September 30,
2009, with a cover letter indicating that the paper is intended for the
Special Issue. See http://ees.elsevier.com/retail/ for details of
submission guidelines. However, submit the manuscript to the co-editors
via email. Do not use the electronic submission process of the Journal.
Special Issue Co-Editors:
Professor Rajiv P. Dant Professor Marko Grünhagen Professor Josef
Windsperger
University of Oklahoma Eastern Illinois University University of Vienna
Price College of Business Lumpkin College of Business & Applied
Sciences Center for Business Studies
307 West Brooks 4012 Lumpkin Hall Bruenner Str. 72
Norman, OK 73019-4001 Charleston, IL 61920 1210 Vienna
U.S.A. U.S.A. AUSTRIA
Phone: +1-405-325-4675 Phone: +1-217-581-6906 Phone: +431-4277-38180
Email : rdant(a)ou.edu Email : mgrunhagen(a)eiu.edu Email :
josef.windsperger(a)univie.ac.at
Sehr geehrte Damen,
sehr geehrte Herren!
Wir möchten Sie über unser 5. GARP-Treffen, welches wir
freundlicherweise bei der Volksbank Wien, Filiale Schottenring 1 (1090
Wien) abhalten dürfen, informieren.
Es findet am
26.6.2008 (18:00 - 21:00 Uhr) statt.
Agenda:
18:00 Registration
18:15 Welcome note by Mag. Franz Reif, Head of Strategic Risk
Management,
Volksbank AG
18:30 Präsentation:
"Behavioral ratings - Verhaltensratings", Mag. Alexander Tscherteu,
Head of Group Credit Risk Management, Volksbank AG
19:30 Präsentation:
"Interest Rate Risk Stress-Testing for the Banking Book", Dr. Franz
Jakob, Head of Risk Controlling, RLB NÖ-W AG
20:00 Buffet und Networking
Wir ersuchen Sie, wie gewohnt um Anmeldung unter folgendem Link:
http://www.garp.com/login.aspx?URL=%2fmembership%2fOnlineRegistration.aspx%3
Je nach gewünschter Inanspruchnahme der GARP-Leistungen, gibt es
verschiedene Mitgliedskategorien, welche mit jährlichen Kosten von 0 bis
150 USD verbunden sind (die Teilnahme an den Local Chapter Meetings ist
als *Affiliate Membership* kostenlos).
http://www.garp.com/membership/benefits.aspx
Zur rechtzeitigen Planung erlauben wir uns Ihnen vorweg unsere
voraussichtlichen Veranstaltungstermine für das 3. und 4. Quartal 2008
bekanntzugeben:
22.09.2008
10.11.2008
01.12.2008
Beste Grüße
Harald Hauer
Österreichische Elektrizitätswirtschafts-AG (Verbund)
Am Hof 6a; 1011 Wien
Sitz: Wien; Firmenbuch: FN 76023 z; HG Wien
e-mail: Harald.Hauer(a)verbund.at
http://www.verbund.at
Eugen Puschkarski
Oesterreichische Nationalbank
Otto Wagner Platz 3, POB 61, A-1011 Vienna, Austria
Phone (+43-1) 40420-4419
Fax (+43-1) 40420-4499
e-mail: Eugen.Puschkarski(a)oenb.at
http://www.oenb.at
Information and Invitation
to the Workshop and Presentation of the Festschrift "The Economics of Corporate
Governance and Mergers"
June 20 and 21, 2008
Please find the detailed program at:
http://www.univie.ac.at/vwl/Research/Workshop%20Mueller/einladung.pdf
Sorry for possible cross-postings.
H.M.Wurm
DAS DEPARTMENT FÜR FINANZWIRTSCHAFT UND RECHNUNGSWESEN DER WIRTSCHAFTSUNIVERSITÄT WIEN
UND DIE ZZ-VERMÖGENSVERWALTUNG
laden Sie ein zum Vortrag von
DR MARC FABER (alias "DR. DOOM)
WILL THE FIRST SYNCHRONIZED GLOBAL ECONOMIC BOOM IN THE 200-YEAR OLD HISTORY OF CAPITALISM ALSO LEAD TO A SYNCHRONIZED BUST?
DATUM: 3. Juni 2008, 12.00 Uhr
Ort:
Wirtschaftsuniversität Wien
Hörsaal 04, UZA 1, Zone B, blau
---------- Forwarded message ----------
Date: Wed, 28 May 2008 13:27:12 +0300
From: Stefan Geiss <geiss(a)maths.jyu.fi>
Subject: Workshop on Numerics and Stochastics
(...)
Second Announcement
-------------------
Workshop on Numerics and Stochastics
August 25-29, 2008
Helsinki University of Technology
Institute of Mathematics
as part of the
* Special Year in Numerics 2008-2009
* European Science Foundation through the European Scientific
Network Advanced Mathematical Methods for Finance (AMaMeF)
The workshop is devoted to the various connections between
Numerics and Stochastics from the theoretical point of view
and from the view point of applications, for example in finance.
Among the speakers are:
Vlad Bally (University of Marne-la-Vallée, Paris)
Bruno Bouchard (University Paris-Dauphine)
Pierre Del Moral (INRIA, Bordeaux)
François Delarue (University Paris VII)
Steffen Dereich (Technical University Berlin)
Emmanuel Gobet (InP Grenoble)
Stefan Heinrich (University Kaiserslautern)
Arturo Kohatsu-Higa (University Pompeu Fabra)
Damien Lamberton (University of Marne-la-Vallée, Paris)
Antoine Lejay (INRIA, Nancy)
Stéphane Menozzi (University Paris VII)
Thomas Müller-Gronbach (University Magdeburg)
Klaus Ritter (Technical University Darmstadt)
Anders Szepessy (KTH, Stockholm)
Aleksander Veretennikov (University of Leeds)
* Deadline for registration: 1st of August 2008.
In case you propose a talk, we recommend registering as early as
possible.
* Conference fee: there will be no fee, but small charges
for optional social events
* http: //math.tkk.fi/numericsyear/numstoch/
* Contact: numstoch(a)lists.jyu.fi
* Organizers:
Timo Eirola
Dario Gasbarra
Stefan Geiss
Damien Lamberton
Teemu Pennanen
Dear colleagues,
you are kindly invited to attend the following research talk:
Jochen Lawrenz (Institute for Banking and Finance, University of Innsbruck) will talk about
"Optimal Design of Rating-Trigger Step-Up Bonds: Agency Conflicts Versus Asymmetric Information"
(cf. abstract below)
on Wednesday, May 28th, 2008 at 4 p.m.
at Vienna Univ of Econ & Bsns Admin, Heiligenstaedter Str. 46-48, in Meeting Room 1.
Kind regards,
Stefan Pichler
---------------------------------
Abstract:
In this paper, we analyze corporate bonds with a rating-triggered step-up provision in a
continuous-time framework with bankruptcy costs and tax benefits. While without any further
frictions, step-up bonds do not add firm value relative to straight debt, agency conflicts and
asymmetric information are two possible explanations for the issuance of these instruments. We treat
both motives (separately) in a unified framework to obtain conclusions about both the optimal design
and the conditions for the use of step-up bonds. The closed-form solutions for the optimal contract
design reveal that step-up bonds issued by firms that face a risk-shifting problem fundamentally
differ from those in the case of asymmetric information. Furthermore, we show that firms with a high
initial risk only use step-up bonds to overcome problems of asymmetric information but not to
mitigate risk-shifting problems. A further difference between the two motives is that in the case of
risk-shifting, step-up bonds are only used when the agency conflict is sufficiently severe, while
for signalling reasons even a modest problem of asymmetric information supports the use of step-up
bonds.
--
Tanja Veza, Ass.Prof.
Institute for Banking and Finance
Vienna Univ of Econ & Bsns Admin
Heiligenstaedter Str. 46-48, 1190 Vienna, Austria
Phone (Fax): +43 1 31336 (90) 4685
---------- Forwarded message ----------
Date: Thu, 8 May 2008 12:27:06 +0200
From: "Schlichting, Martina" <Martina.Schlichting(a)wu-wien.ac.at>
Subject: Ankuendigung
(...)
[Text des PDF-Attachments konvertiert und eingefügt von VFN-L-Admin]
Ausschreibung von Stellen für wissenschaftliches Universitätspersonal
Im Institute for Finance and Investments ist voraussichtlich ab 1.
Juni 2008 bis 31. Mai 2012 eine Stelle für einen wissenschaftlichen
Mitarbeiter/eine wissenschaftliche Mitarbeiterin (ArbeitnehmerIn der
Wirtschaftsuniversität Wien gem. § 128 UG 2002 idgF), vollbeschäftigt
zu besetzen.
Wir weisen Sie darauf hin, dass der WU-Personalentwicklungsplan für
Wissenschaftliche Mitarbeiter/ Wissenschaftliche Mitarbeiterinnen eine
maximale Befristungsdauer von 4 Jahren vorsieht. Bewerber/innen, die
bereits als Ersatzkräfte an der WU beschäftigt sind, können daher nur
mehr für die auf die 4 Jahre fehlende Zeit eingestellt werden.
Weiters weisen wir daraufhin, dass die Wiederbestellung von Personen,
die bereits eine Stelle als wissenschaftlicher
Mitarbeiter/wissenschaftliche Mitarbeiterin inne hatten, aus
rechtlichen Gründen nicht möglich ist.
Notwendige Kenntnisse und Qualifikationen:
abgeschlossenes Studium der Wirtschaftswissenschaften
(Betriebswirtschaft/Volkswirtschaft) bzw. gleichzuhaltende
Qualifikation
Erwünschte Kenntnisse und Qualifikationen:
Erfahrung im wissenschaftlichen Arbeiten in einem der folgenden
Teilgebiete der Finanzwirtschaft: Corporate Finance, Asset-Management,
Asset Pricing, Risikomanagement, Banking oder einem verwandten
Teilgebiet der Volkswirtschaftslehre, wie Entscheidungstheorie,
Corporate Governance, Spieltheorie etc. Durchdringung eines dieser
Fächer entweder im Rahmen empirischer oder theoretischer Analysen.
Lehrerfahrung im Rahmen universitärer Ausbildungen
Kennzahl: 106205
Schriftliche Bewerbungen mit Lebenslauf und Zeugnissen (Kopien) sind
unter Angabe der angeführten Kennzahl an die PERSONALABTEILUNG der
Wirtschaftsuniversität Wien, Augasse 2-6, 1090 Wien
(sekretariatpersabt(a)wu-wien.ac.at) zu richten.
Ende der Bewerbungsfrist: 21. Mai 2008
Bitte die Kennzahl unbedingt anführen!
Mag. Anna Jaschek
Leiterin der Personalabteilung
--
Institute for Finance and Investments
Department of Finance and Accounting
Vienna University of Economics and Business Administration
Heiligenstädter Str. 46-48/DG 2.02
1190 Vienna
Austria
Tel: +43 1 31336-6315
Fax: +43 1 31336-906315
Dear colleagues,
You are kindly invited to attend the following VGSF research seminars:
***Seminar 1: Delegated Asset Management and Market Segmentation
***Speaker: Wei Xiong (Princeton University)
****Time: 2008-04-23, Wednesday, 15:30-17:00 !!!*
***Location: 1190, Heiligenstädter Strasse 46-48, seminar room 1 (ground
floor) (WU-H46)
***Seminar 2: Day Trading in Equilibrium
***Speaker: Terrance Odean (Haas School of Business, Berkeley)
***Time: 2008-04-25, Friday, 15:30-17:00
***Location: 1190, Heiligenstädter Strasse 46-48, seminar room 1 (ground
floor) (WU-H46)
The paper to be presented by Terrance Odean can be downloaded at
http://www.vgsf.ac.at/activities/seminars.htm. The abstracts are
attached below.
Please note that the special time for the first seminar of this week.
Please also be informed that from now on VGSF research seminars will
only be announced through the VGSF newsletter. You are kindly invited to
subscribe to the VGSF newsletter at
https://lists.wu-wien.ac.at/mailman/listinfo/vgsf-newsletter if you have
not yet done it.
Wei Xiong will be available for individual meetings on Wednesday, and
Terrance Odean will be available on Friday afternoon before the seminar.
If you would like to talk to them in person, please contact me as soon
as possible.
Best regards,
Youchang Wu
Abstract 1: This paper explains capital immobility in financial markets
based on agency frictions in delegated asset management. Our key insight
is that confining a fund
to investing in a single market increases the efficiency of incentive
provision to the fund manager through benchmarking and reduces the
agency cost. We show
that this benefit can dominate the cost of forgone investment gain due
to restricted investment choices, and therefore provide a justification
of capital confinement
provisions commonly specified in asset management contracts. Our model
offers a new perspective on liquidity crises. After investors distribute
their capital into
different market segments through institutionally managed funds, agency
considerations can largely confine capital within its initial market
segments, thus
refraining liquidity from flowing down to a distressed market.
Abstract 2: When an investor buys and sells the same stock on the same
day, he has made a day trade. We analyze the performance of day traders
in Taiwan. Day trading by individual investors is prevalent in Taiwan –
accounting for over 20 percent of total volume from 1995 through 1999.
Individual investors account for over 97 percent of all day trading
activity. Day trading is extremely concentrated. About one percent of
individual investors account for half of day trading and one fourth of
total trading by individual investors. Heavy day traders earn gross
profits, but their profits are not sufficient to cover transaction
costs. Moreover, in the typical six month period, more than eight out of
ten day traders lose money. Despite these bleak findings, there is
strong evidence of persistent ability for a relatively small group of
day traders. Traders with strong past performance continue to earn
strong returns. The stocks they buy outperform those they sell by 62
basis points /per day/. This spread is sufficiently large to cover
transaction costs.