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Executive Education - August 25, 2011

PhD in Finance candidate invited to present at American Finance Association meeting

Nexar Capital Head of Investment Solutions Gideon Ozik became the first EDHEC-Risk Institute PhD in Finance candidate to be invited to present some of his dissertation work at the annual meeting of the American Finance Association, the most prestigious academic conference devoted to financial economics. The event will be held January 6-8, 2012 in Chicago.

Entitled ‘‘Skin in the Game versus Skimming the Game: Governance, Share Restrictions, and Insider Flows,’’ the paper will be presented within a session on fund incentives chaired by Professor Lubos Pastor of the University of Chicago.

Mr Ozik joined the EDHEC-Risk Institute PhD in Finance programme in 2008 as an executive track participant in the inaugural entering class. This is the second paper dedicated to hedge fund flows co-authored by Gideon Ozik and Professor Ronnie Sadka of Boston College. It examines potential misbehaviour by fund managers and finds that share restrictions can adversely induce information asymmetry between managers and their clients about future fund flows. Their first paper, entitled “Smart Money or Smart About Money? Evidence from Hedge Funds” and presented at last year’s doctorate research presentations series, established that investor flow affects hedge fund returns.

The other main topic of Mr Ozik’s dissertation is the impact of media on financial markets. To date, he has presented related papers at the CRSP Forum of the University of Chicago, at the inaugural PhD in Finance Forum held in Monaco as part of the EDHEC-Risk Institutional Days, at the Third Annual Hedge Fund Conference in Paris, at this year’s doctorate research presentations series, and at the European Winter Finance Summit. This area of his dissertation work also attracted considerable media attention.

Information sessions in Asia, Europe and the Americas

To reserve your place or to learn more about the EDHEC-Risk Institute PhD in Finance, email maud.gauchon@edhec-risk.com, or call us on +33 493 183 267 or on +65 64 389 896.

Next application deadlines:

Executive track:
Asia-based programme or Europe-based programme: December 11, 2011

Residential track:
Asia-based programme or Europe-based programme: December 11, 2011