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: June 17th, 2003 (Tuesday), 4.30 p.m.
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien
(
http://www.gutmann.at)
Speaker: Robert A. Korajczyk
Harry G. Guthmann Distinguished Professor of Finance
Kellogg School of Management
Northwestern University
http://www.kellogg.nwu.edu/faculty/korajczy/htm/
Robert A. Korajczyk is the Harry G. Guthmann Distinguished Professor of
Finance.
He is past Chair of the Finance Department and has been a member of the
Kellogg School faculty since 1982. Professor Korajczyk has also held
visiting faculty appointments at the University of Chicago and the Hong
Kong University of Science and Technology.
Professor Korajczyks research interests are in the areas of
investments, corporate finance, and international finance. He is a
recipient of the New York Stock Exchange Award for Best Paper on Equity
Trading presented at the 1993 Western Finance Association annual
meetings, and the Review of Financial Studies Best Paper Award, 1991.
He is a past or current editor of several leading journals.
He has served as a consultant to the World Bank and a number of other
organizations. He received his B.A. (1976); M.B.A. (1977); and Ph.D.
(1983) from the University of Chicago."
Title: "Liquidity and Portfolio Management"
Abstract:
"Liquidity, or lack of it, has played an important part in a number of
recent financial crises. Of even more relevance to most portfolio
managers if the fact that simulated portfolios almost universally
outperform actual portfolios based on the same trading rules. This
discrepancy is due, in large part, to imperfect liquidity in asset
markets. This lecture will discuss the estimation and use of liquidity
measures in portfolio management, the evidence for or against the
existence of liquidity premiums in equity markets, and the implications
for investors and listed firms."
Please register - Contact:
Brigitte Juchelka, Bank Gutmann AG
mail: brigitte.juchelka(a)gutmann.at
Tel.: +43-1-50220-357
Fax: +42-1-50220-249