Research Spotlight

NSE Best Papers announced at the Summer Research Conference

The Centre for Analytical Finance (CAF) at ISB held its annual flagship Summer Research Conference (SRC) in Finance recently. This year, SRC marks its 10th anniversary with a two- day conference on “Recent Advances in Corporate Finance” bringing together some of the best minds from across the globe.

This year’s conference received 100 applications from which 15 papers were selected for presentation. The NSE best paper award of $5000 was shared by Christian Wolff (University of Luxembourg), George Pennacchi, (University of Illinois), Theo Vermaelen (INSEAD) for their paper, “Contingent Capital: The Case of COERCs” and Sanjiv R. Das, Seoyoung Kim (Santa Clara University) for their paper, “Credit Spreads with Dynamic Debt.”

The centre also invites a finance researcher of the highest scholarly standing as the Academic Fellow for the year. The Academic Fellow interacts with the resident faculty in research and delivers the keynote address at the SRC. Professor Eduardo Schwartz from the UCLA Anderson School of Management is CAF Academic Fellow 2013. Professor Schwartz, known for pioneering research in derivatives, spoke on, “The Real Options Approach to Valuation: Challenges and Opportunities” in his keynote.

Over the years, the conference has become extremely competitive, with paper submissions from twenty odd countries. The papers featured  topics such as financial crisis, family business and emerging markets, banking and credit risk, mergers and acquisitions, corporate governance and alternative investments. Besides, the acceptance rate of the research papers presented at the conference to top journals is one of the best at 27.2%.
The centre has strengthened the research focus of ISB by working on several policy projects of national importance. Today, it is one of the leading research and consulting experts on global financial issues.

For more details and further information on the event please visit