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1159 discussions

[VFN] Invitation Corporate Governance Conference and Panel Discussion - November 11, 2004
by Randl Otto iskwien 19 Oct '04

19 Oct '04

BSI Gamma, ISK Wien and Universität Wien invite to a CONFERENCE and PANEL DISCUSSION on CORPORATE GOVERNANCE November 11, 2004 Palais Coburg ----------------------------------------------------- Programme: 13.15 Welcome Prof. Josef Zechner, Prof. Rene Stulz 13.30 - 15.00 Session 1 Predicting Firms' Corporate Governance Choices: Evidence from Korea Bernard Black, Hasung Jang, Woochan Kim Discussant: Rene Stulz Watching the Stop from the Front Seat: Determinant of Venture Capitalists' Representation on the Board Eli Talmor, Reddi Kotha Discussant: Thomas Dangl 15.30 - 17.00 Session 2 The Valuation Effect of Corporate Governance Changes: Evidence from Cross-Border Mergers Arturo Bris, Christos Cabolis Discussant: Klaus Gugler Corporate Governance and Earnings Management: International Evidence Francois Degeorge, Yuan Ding, Thomas Jeanjean, Herve STolowy Discussant: Alex Stomper 17.30 - 19.15 Session 3 The Corporate Governance Role of the Media: Clinical Evidence from Russia Luigi Zingales, Alexander Dyck Discussant: Ernst Maug PANEL DISCUSSION: Can corporate insiders be tamed? Alexander Dyck, Harvard Business School Michael Eberhartinger, Austrian Corporate Governance Committee Ernst Maug, University of Berlin Stefan Zapotocky, CEO Vienna Stock Exchange 19.15 Cocktails ----------------------------------------------------- Please reply by October 29, 2004 to gamma.foundation(a)bsi.ch or isk(a)iskwien.at ----------------------------------------------------- Further information: Dr. Otto Randl Institut für strategische Kapitalmarktforschung Coburgbastei 4/1 1010 Wien T: +43-1-51818-900 T: +43-1-51818-920 E: otto.randl(a)iskwien.at

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[VFN] CCEFM Workshop - Yihong Xia
by Alfred Lehar 18 Oct '04

18 Oct '04

CCEFM Workshop Yihong Xia, University of Pennsylvania, Wharton School (Gutmann Center Research Fellow) "Persistence, Predictability, and Portfolio Planning" Friday, October 22nd, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien The paper is downloadable from: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html --------------------------------------------- The next CCEFM workshop is by Rick Green, Carnegie Mellon University (sponsored by Gutmann Center for Portfolio Management) TBA Wednesday (!), Nov 3rd, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien ---------------------- Alfred Lehar University of Vienna Bruenner Strasse 72 A-1210 Wien Austria / Europe Tel: +43 1 4277 38077 Fax: +43 1 4277 38074

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[VFN] CCEFM Workshop - Raman Uppal
by Alfred Lehar 10 Oct '04

10 Oct '04

CCEFM Workshop Raman Uppal, London Business School (Gutmann Center Research Fellow) "How inefficient are simple asset-allocation strategies?" Friday, October 15th, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien The paper will be downloadable within the next few days from: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html --------------------------------------------- The next CCEFM workshop is by Yihong Xia, University of Pennsylvania (Gutmann Center Research Fellow) TBA Friday, October 22th, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien

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[VFN] Public Lecture Raman Uppal October 13th - reminder
by Gutmann Center-D. Grimm 10 Oct '04

10 Oct '04

* REMINDER * REMINDER * REMINDER * REMINDER * REMINDER The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT at the University of Vienna http://www.gutmann-center.at is pleased to announce the following PUBLIC LECTURE: Date: October 13th, 2004 (Wednesday), 4.00 p.m. Speaker: Prof. Dr. Raman UPPAL London Business School http://faculty.london.edu/ruppal/ Title: "PORTFOLIO SELECTION WITH PARAMETER AND MODEL UNCERTAINTY" Abstract: In this paper, we extend the mean-variance portfolio model where expected returns are obtained using maximum likelihood estimation to explicitly account for uncertainty about estimated expected returns. In contrast to the Bayesian approach to estimation error, where there is only a single prior and the investor is neutral to uncertainty, we allow for multiple priors and aversion to uncertainty. The multi-prior model has several attractive features: One, just like the Bayesian model, the multi-prior model is firmly grounded in decision theory; Two, it is flexible enough to allow for uncertainty about expected returns estimated jointly for all assets or different levels of uncertainty about expected returns for different subsets of the assets; Three, we show how in several special cases of the multi-prior model one can obtain closed-form expressions for the optimal portfolio, which can be interpreted as a shrinkage of the mean-variance portfolio towards either he risk-free asset or the minimum variance portfolio. We illustrate how to implement the multi-prior model using both international and domestic data. Our analysis suggests that allowing for parameter uncertainty reduces the fluctuation of portfolio weights over time and, for the data set considered, improves substantially the out-of sample performance. Location: Bank Gutmann AG (http://www.gutmann.at), Schwarzenbergplatz 16, A - 1010 Vienna, Austria Participation is free, but REGISTRATION required: brigitte.juchelka(a)gutmann.at phone: +43-1-50220-357 Further information: Dorothea Grimm Administrative Director Gutmann Center for Portfolio Management University of Vienna Bruenner Str. 72 A-1210 Wien Austria phone: +43-1-4277-38186 fax: +43-1-4277-38074 mail: dorothea.grimm(a)univie.ac.at web: www.gutmann-center.at

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[VFN] CCEFM Workshop
by Alfred Lehar 04 Oct '04

04 Oct '04

CCEFM Workshop Russ Wermers (University of Maryland), Eugene Kandel (Hebrew University) (Gutmann Center International Research Grant 2002) "Evaluating Asset Managers by Decomposing Their Active Decisions" Friday, October 8th, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien The paper will be downloadable within the next few days from: http://www.bwl.univie.ac.at/bwl/fiwi3/members/stomper/ccefm/work.html --------------------- The next CCEFM workshop is by Raman Uppal, London Business School (Gutmann Center Research Fellow) Title: TBA Friday, October 15th, 3.30-5.00 pm, Wiener Börse, Wallnerstrasse 8, 1010 Wien

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[VFN] Gutmann Center Public Lecture Raman Uppal October 13th
by Gutmann Center-D. Grimm 04 Oct '04

04 Oct '04

The GUTMANN CENTER FOR PORTFOLIO MANAGEMENT at the University of Vienna http://www.gutmann-center.at is pleased to announce the following PUBLIC LECTURE: - Apologies for any cross-postings!! - Date: October 13th, 2004 (Wednesday), 4.00 p.m. Speaker: Prof. Dr. Raman UPPAL London Business School http://faculty.london.edu/ruppal/ Title: "Portfolio Selection with Parameter and Model Uncertainty" Abstract: In this paper, we extend the mean-variance portfolio model where expected returns are obtained using maximum likelihood estimation to explicitly account for uncertainty about estimated expected returns. In contrast to the Bayesian approach to estimation error, where there is only a single prior and the investor is neutral to uncertainty, we allow for multiple priors and aversion to uncertainty. The multi-prior model has several attractive features: One, just like the Bayesian model, the multi-prior model is firmly grounded in decision theory; Two, it is flexible enough to allow for uncertainty about expected returns estimated jointly for all assets or different levels of uncertainty about expected returns for different subsets of the assets; Three, we show how in several special cases of the multi-prior model one can obtain closed-form expressions for the optimal portfolio, which can be interpreted as a shrinkage of the mean-variance portfolio towards either he risk-free asset or the minimum variance portfolio. We illustrate how to implement the multi-prior model using both international and domestic data. Our analysis suggests that allowing for parameter uncertainty reduces the fluctuation of portfolio weights over time and, for the data set considered, improves substantially the out-of sample performance. Location: Bank Gutmann AG (http://www.gutmann.at), Schwarzenbergplatz 16, A - 1010 Vienna, Austria Participation is free, but REGISTRATION required: brigitte.juchelka(a)gutmann.at phone: +43-1-50220-357 Further information: Dorothea Grimm Administrative Director Gutmann Center for Portfolio Management University of Vienna Bruenner Str. 72 A-1210 Wien Austria phone: +43-1-4277-38186 fax: +43-1-4277-38074 mail: dorothea.grimm(a)univie.ac.at web: www.gutmann-center.at

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[VFN] Announcement Gutmann Center Symposium on Hedge Funds November 29th Vienna
by Gutmann Center-D. Grimm 29 Sep '04

29 Sep '04

The Gutmann Center for Portfolio Management at the University of Vienna http://www.gutmann-center.at is pleased to announce the GUTMANN CENTER SYMPOSIUM ON HEDGE FUNDS Date: November 29th, 2004 Location: University of Vienna, Austria In times of falling stock markets and not very promising bond markets, investors are looking for alternatives. Hedge Funds promise stable and attractive returns both during rising as well as falling markets but come with the disadvantage that they are frequently a black box for investors. The internationally recognized speakers at our symposium will shed some light on this hot topic from an academic as well as a practitioner's point of view: - George O. Aragon, Boston College "Share Restrictions and Asset Pricing - Evidence from the Hedge Fund Industry" - Oleg Bondarenko, University of Illinois at Chicago "Market Price of Variance Risk and Performance of Hedge Funds" - Yong Chen, Boston College "Timing ability in the focus market of hedge funds" - Ryan J. Davies, Babson College "Fund of Hedge Funds Portfolio Selection: A Multiple-Objective Approach" - Mila Getmansky, Isenberg School of Management at UMASS, Amherst "The Life Cycle of Hedge Funds: Fund Flows, Size and Performance" - Julien Hugonnier, University of Lausanne "Mutual Fund Portfolio Choice in the Presence of Dynamic Flows" - Narayan Naik , London Business School "Flows, Performance, and Managerial Incentives in the Hedge Fund Industry" - Robert Kosowski, INSEAD "Is Stellar Hedge Fund Performance for Real?" - Martin Ruckes, University of Wisconsin-Madison "Liquidity, Borrowing Structure, and Limits to Arbitrage" - Terry Marsh, Quantal/ UC Berkeley "Equity Market Neutral Hedge Funds" - Maria Vassalou, Columbia University "Corporate Innovation and its Effects on Equity Returns" - Kuan Xu, Dalhousie University "Myopic Loss Aversion and Margin of Safety" Sessions will be chaired and discussed by members of the Academic Advisory Board: - Elroy Dimson, London Business School - Engelbert Dockner, University of Vienna - Robert Korajczyk, Northwestern University - Klaus Spremann, University St. Gallen - Neal Stoughton, University of California, Irvine - Josef Zechner, University of Vienna The presentations will be followed by a PANEL DISCUSSION. The participation is free, but all participants are required to REGISTER: mail: gutmann.bwl(a)univie.ac.at Contact: Gutmann Center for Portfolio Management University of Vienna Bruenner Str. 72 A-1210 Wien Austria phone: +43-1-4277-38186 fax: +43-1-4277-38074 mail: gutmann.bwl(a)univie.ac.at web: www.gutmann-center.at Apologies for cross postings!!

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[VFN] Stellenausschreibung an der Karl-Franzens-Universitaet Gr az
by Silvia Gersin 21 Sep '04

21 Sep '04

Ausschreibung an der Karl-Franzens-Universität Graz Sozial- und Wirtschaftswissenschaftliche Fakultät Am Institut für Banken und Finanzierung ist eine halbe Stelle einer wissenschaftlichen Mitarbeiterin oder eines wissenschaftlichen Mitarbeiters im Forschungs- und Lehrbetrieb gem. § 100 UG 02 (befristete Ersatzkraft), ab sofort befristet bis voraussichtlich 17. Mai 2005, zu besetzen. Aufnahmebedingungen: Abgeschlossenes Doktoratsstudium der Sozial- und Wirtschaftswissenschaften bzw. eine dem Doktorat gleich zu wertende wissenschaftliche Befähigung. Erwünschte Kenntnisse bzw. Qualifikationen: Ausgezeichneter Erfolg im Prüfungsfach "Banking & Finance", Englisch in Wort und Schrift. Ende der Bewerbungsfrist: 06. Oktober 2004 (Kennzahl: 23/68/99). Bewerbungen (mit Lebenslauf und Zeugnissen) sind unter Angabe der Kennzahl einzureichen an: Karl-Franzens-Universität Administration und Dienstleistungen Personalwesen Universitätsplatz 3 8010 Graz

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[VFN] Stellenausschreibung, Abt. Finanzwirtschaft und Controlling, TU-Wien
by Wolfgang Aussenegg 15 Sep '04

15 Sep '04

AUSSCHREIBUNG An der Abt. Finanzwirtschaft und Controlling (http://info.tuwien.ac.at/E330/), Institut für Betriebswissenschaften, Arbeitswissenschaft und Betriebswirtschaftslehre (Neue Bezeichung: Institut für Managementwissenschaften), der Technischen Universität Wien (http://www.tuwien.ac.at/), ist voraussichtlich ab 1.10.2004 auf die Dauer von 6 Jahren eine Stelle für einen/eine Universitätsassistenten/in zu besetzen. Beschäftigungsausmaß: vollbeschäftigt Aufnahmebedingungen: einschlägig abgeschlossenes Doktoratsstudium bzw eine gleichwertige wissenschaftliche Befähigung Sonstige Kenntnisse: Rechnungswesen, Finanzwirtschaft, Controlling und Risikomanagement, Statistik/Ökonometrie, Informatikkenntnisse und Programmiererfahrung Bewerbungsfrist: 15.9.2004 bis 6.10.2004 Bewerbungen sind an die Personalabteilung I (http://www.tuwien.ac.at/zv/pers1/ bzw. http://info.tuwien.ac.at/histu/inst/0104.html) der TU Wien, Karlsplatz 13, A-1040 Wien, zu richten. Für weitergehende Auskünfte steht a.o.Univ.-Prof. Dr. Wolfgang Aussenegg (Email: waussen(a)pop.tuwien.ac.at) (www: http://info.tuwien.ac.at/E330/Staff/Aussenegg.htm) zur Verfügung. Mit freundlichen Grüßen, Wolfgang Aussenegg -- *********************************************************** a.o.Univ.-Prof. Dr. Wolfgang Aussenegg Institut für Managementwissenschaften Abt. Finanzwirtschaft und Controlling Technische Universität Wien Phone: +43-1-58801 - 33082 Fax: +43-1-58801 - 33098 E-mail: waussen(a)pop.tuwien.ac.at Web: http://info.tuwien.ac.at/E330/ Adresse: Favoritenstraße 9-11 A-1040 Wien Österreich

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[VFN] 19. Workshop der AWG
by Hermann Elendner 09 Aug '04

09 Aug '04

***** CALL FOR PAPERS ***** Der 19. Workshop der Austrian Working Group on Banking and Finance findet am 26. und 27. November 2004 an der Wirtschaftsuniversität Wien statt. Angesprochen sind sowohl Forscher/inn/en an allen österreichischen Universitäten und verwandten Institutionen als auch Praktiker/innen, die wissenschaftliche Arbeiten im Bereich Banken und Finanzwirtschaft einem kritischen Fachpublikum vorstellen möchten. Bei der Auswahl der Vorträge wird besonders auf die Förderung des wissenschaftlichen Nachwuchses Wert gelegt. Alle Interessent/inn/en sind herzlich eingeladen Papers oder Extended Abstracts bis 31. Oktober 2004 an Prof. Stefan Bogner (stefan.bogner(a)wu-wien.ac.at) oder Prof. Stefan Pichler (stefan.pichler(a)wu-wien.ac.at) zu senden. Mit freundlichen Grüßen Stefan Pichler ******************************************* Univ.-Prof. Mag. Dr. Stefan Pichler Wirtschaftsuniversität Wien Institut für Kreditwirtschaft UZA 4, 6. Stock Kern B Nordbergstraße 15 A-1090 Wien Tel: ++43 1 31336 4691 Fax: ++43 1 3100580 E-mail: stefan.pichler(a)wu-wien.ac.at Web: http://www.wu-wien.ac.at/wwwu/institute/ikw/ ******************************************* ------ Ende der weitergeleiteten Nachricht ------

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