May 2020: Continuation and expansion of the support programs by the Pühringer Group
Research and teaching on endowment and portfolio management at WU has been supported by the Pühringer Group for over 10 years. We are pleased that we have now been able to contractually agree on a long-term continuation and expansion of the funding programs:
- The Research Institute for Capital Markets (ISK) will receive funding from the Pühringer Group for another 10 years. Thus, the successful research work on investment strategies for endowments and long-term oriented investors can be continued. Further, this secures funding for several prae doc positions at the ISK.
- The agreements lay the base for an endowment to the WU Institute of Finance, Banking and Insurance. The endowment will make a significant contribution to intensifying WU's globally visible cutting-edge research in the capital markets area. It will also serve as an important cornerstone for an innovative component of university financing and hopefully serve as a model for research financing in continental Europe.
- The newly established Engelbert-Dockner-Fellowships will enable WU to invite renowned professors to spend several months at WU. With this initiative, we are also preserving the memory of Professor Engelbert Dockner, who passed away in 2017. Professor Dockner was passionate about the educational mission of universities and top-level and practice-oriented research in the area of investments and capital markets.
Further innovative support for research and teaching in the field of finance has been agreed upon in separate contracts in recent years and will be continued alongside these new projects. For example, the Pühringer Group supports WU's Portfolio Management Program as well as regular academic conferences and research awards.
Annual Alumni Meeting 2020
The Portfolio Management Program is an outstanding two-year course where students manage real portfolios and enhance their academic knowledge. The annual alumni meeting in the Palais Coburg gives alumni and current students the opportunity to gain insights from the keynote presentation and allows for networking with colleagues and faculty.
Call for Paper - Vienna Symposium on Foreign Exchange Markets
The WU Research Institute for Capital Markets (ISK) will organize the annual Vienna Symposium on Foreign Exchange Markets from August 17-18, 2020 in Vienna at Palais Coburg.
March 2019: We congratulate our research associate Tom Oskar Karl Zeissler for winning the 2019 CFA Society Austria Prize. In his award-winning master thesis, he analyzed the performance of trading strategies in currency markets (characteristics versus carry). Piotr Kotlarz, former research assistant of Professor Josef Zechner at the WU Institute of Finance, Banking, and Insurance, won the third prize for his master thesis on the role of the real exchange rate in FX prediction, supervised by Prof. Otto Randl. Eligible for the CFA Society Austria Prize are master and PhD theses on an investments topic graded “excellent” at an Austrian university. With two out of three prizes, this is a big success for ISK!
March 2018: Presentation of the paper “Systematic Risk Premia in EM Bond Markets” at the 17th Colloquium on Financial Markets – Asset Management in Cologne.
March 2018: Conference acceptance of “Currency Risk Premia in Emerging Markets” at the 25th GFA 2018 in Paris.
February – March 2018: Conference acceptances of “Systematic Risk Premia in EM Bond Markets” at the 27th EFMA 2018 in Milano, the 35th AFFI 2018 in Paris and the 25th MFS 2018 in Budapest.
January 2018: “WINNER” Best Paper Award 2018, Call for Papers
To promote applied research in the fields of empirical asset pricing and asset management the EUR 10’000 prize will be awarded. This year the prize focuses on foreign exchange again (FX risk premia, FX strategies, FX valuation, FX and monetary policy, Emerging Market currencies, currency pegs, etc.).
Call for papers.
November 2017: Presentation of the paper “Systematic Risk Premia in EM Bond Markets” at the 32nd AWG 2017 workshop in Obergurgl.
May 2017: Josef Zechner was appointed head of the research institute along with Stefan Bogner as vice head.
April 2017: The head of the institute, Engelbert Dockner, passed away on April 16, 2017. Engelbert Dockner was the driving force in founding the Research Institute for Capital Markets.
obituary (in German).
January 2016: Presentation of the paper “A Natural Experiment in Portfolio Management” at the 76th AFA 2016 conference in San Francisco, USA.
May 2015: Presentation of the paper “A Natural Experiment in Portfolio Management” at the 77th VHB 2015 conference in Vienna.
November 2014: Presentation of the paper “A Natural Experiment in Portfolio Management” at the 29th AWG 2014 workshop in Vienna.
June 2014: Endowment Management Conference Hertenstein, Switzerland.
March 2014: Preliminary version of the paper Risk and Return of Short Duration Equity Investments (Georg Cejnek and Otto Randl)
January 2014: Publication in the Journal of Investment Management: A Survey of University Endowment Management Research, forthcoming in the Journal of Investment Management; Cejnek G., Franz R., Randl O., Stoughton N.
November 2013: Preliminary version of the paper An Integrated Model of University Endowment
May 2013: Preliminary version of the paper Macro-Based Parametric Asset Allocation (Richard Franz).
May 2013: Preliminary version of the paper Implications of Index Methodologies for Price and Dividend Indices (Georg Cejnek and Otto Randl)
February 2013: Article on our paper 'A Survey of University Endowment Management Research' in asset international's Chief Investment Officer (aiCIO) magazine, the leading publication read by chief investment officers of institutional investors: Endowment Transparency Would Be a Win for the Industry (by Managing Editor Paula Vasan).
January 2013: Preliminary version of our paper A Survey of University Endowment Management Research.
November 2012: WU Best Paper Award from the city of Vienna for the paper Intermediated Investment Management (2011), Neal Stoughton, Youchang Wu and Josef Zechner, Journal of Finance, 66, 947-980. In the picture: Prof. Josef Zechner (left), Prof. Neal Stoughton (second to left), Prof. Hubert Christian Ehalt (second to right) and WU Vice-Rector Prof. Barbara Sporn (right).
November 2012: Publication in the Journal für Betriebswirtschaft, Band 62, Heft 3 (2012), S 225-260: Universitätsendowments - Eine Bestandsaufnahme der theoretischen und empirischen Forschung; Cejnek G., Franz R., Randl O., Stoughton
June 2012: Endowment Management Conference Vienna joint with the University of Cambridge.
April 2012: Prof. Neal Stoughton presented his paper "Strategic Mutual Fund Tournaments" at the 11th Köllner Finanzmarktkolloquium. The paper was awarded the "Outstanding Paper Award" at the conference. In the picture: Prof. Neal Stoughton (left) and Prof. Alexander Kempf (right).