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@gutmann.at Tel.: +43-1-50220-357 Fax: +42-1-50220-249