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Asset Management Education - November 21, 2011

EDHEC-Risk Institute PhD in Finance programme presents first two graduates

Gideon Ozik, PhD
Head of Investment Solutions,
Nexar Capital Group
      Daniel Mantilla-Garcia, PhD
Head of Research and Development,
Koris International

EDHEC-Risk Institute awarded doctoral degrees last month to two candidates in the inaugural class of its PhD in Finance programme. The programme's first two graduates are Gideon Ozik and Daniel Mantilla-Garcia.

In his first essay, co-authored with Ronnie Sadka, from Boston College, Gideon Ozik advances that share restrictions can adversely induce information asymmetry between managers and their clients about future fund flows. In his second paper, also co-authored with Ronnie Sadka, Gideon Ozik studies the relation between the media coverage of funds and their future performance.

In a joint paper with René Garcia and Lionel Martellini, Daniel Mantilla-Garcia shows that the cross-sectional dispersion of stock returns can be regarded as a consistent and efficient estimator for idiosyncratic volatility. His second essay, authored jointly with another EDHEC-Risk Institute PhD in Finance candidate, Vijay Vaydianathan, deals with the power of the dividend price ratio to predict future stock returns.

The programme’s Academic Director, Professor René Garcia, advised Gideon Ozik, and co-advised Daniel Mantilla-Garcia with EDHEC-Risk Institute Scientific Director Professor Lionel Martellini. EDHEC-Risk Institute Professor Raman Uppal acted as chair of both thesis committees, while the external examiners were Professor Tarun Ramadorai, from Oxford University, and Professor Ravi Bansal, from Duke University.

Careerwise, Gideon Ozik will continue to work as Head of Investment Solutions of the Nexar Capital Group, while Daniel Mantilla-Garcia joined boutique asset manager Koris International in September 2011 to serve as their Head of Research and Development.

This is a summary of the cover story that appeared in the latest issue of the EDHEC-Risk Institute PhD in Finance programme newsletter.

About the PhD in Finance Programme

Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. Drawing its faculty from the world’s best universities and enjoying the support of a leader in applied financial research, the EDHEC-Risk Institute PhD in Finance creates an extraordinary platform for professional development and industry innovation.

Following a stimulating scientific curriculum and working individually with leading specialists on research issues of particular relevance to their organisations, practitioners on the programme’s executive track learn to leverage their expertise and insights to make original contributions at the frontiers of financial knowledge and practices.

  • The next deadline for application for October 2012 admission (Europe-based programme) is 11 December, 2011.

  • The next deadline for application for February 2012 and February 2013 admission (Asia-based programme) is 11 December, 2011.
EDHEC-Risk Institute is seeking to matriculate around fifteen new executive track participants in Europe and in Asia.

Programme presentations will be held in Asia, Europe, and the Americas. To reserve your place or to learn more about the EDHEC-Risk Institute PhD in Finance, please contact Ms. Maud Gauchon at maud.gauchon@edhec-risk.com or on +33 493 183 267 / +65 64 389 896.