Reproducibility in Management Science
Authors: Miloš Fišar, Ben Greiner, Christoph Huber, Elena Katok, Ali I. Ozkes, and the Management Science Reproducibility Collaboration*
Learning from Biodiversity: Is Diversity in Financial Ecosystems Important for Economic Growth and Stability?
Authors:: Vihang R. Errunza, Basma Majerbi and Maxwell Tuuli
Publication: IMF Economic Review, Forthcoming
Sebastien Betermier and David Schumacher winners of the Best Paper Using EUROFIDAI Daily Data Award
Sebastien Betermier and David Schumacher (both Associate Professors in Finance) along with their co-author Ali Shahrad (Assistant Professor, University of Saskatchewan) have won the “Best Paper Using EUROFIDAI Daily Data Award” in 2023 for their research paper titled “Mutual Fund Proliferation and Entry Deterrence”, published in the
Pension funds can drive greater returns by participating more directly in value creation
Pension funds manage enormous amounts of capital, but they don’t create as much value as other players in the financial sector. Entrepreneurs, venture capitalists and private equity funds all play a more direct role in launching projects and creating value.
The Term Structure of Short Selling Costs, Review of Finance
Authors: Gregory Weitzner
Ava Labs and CBER Forum launch new blockchain and crypto podcast series
Ava Labs, a software provider for the Avalanche blockchain network, has launched a new podcast series under its Owl Explains initiative. “Crafting the Crypto Economy” spotlights top researchers from leading academic institutions and features McGill Desautels Assistant Professor of Finance Thomas J. Rivera as part of the opening lineup.
Canadian pension funds divestment of private equity holdings rebalances portfolios
Canadian pension funds are strategically divesting from their private equity holdings to realign their portfolios. Recognizing the inherent lag in private equity valuations compared to publicly traded assets, the move aims to address potential overvaluations, particularly in the context of rising interest rates.
Public pension plans in Canada and Australia achieve efficiencies through professional asset management at scale
Canada and Australia are both examples of successful pension fund management, said Prof. Sebastien Betermier in a keynote presentation to the Government Employees Pension Fund (GEPF) Thought Leadership Conference in Cape Town, South Africa. While there are differences, both capture similar efficiencies: getting people to save money early, so they benefit from compounding.
Shadow banking is growing – and it’s a hidden risk to the stability of the financial system
Shadow banking is playing an increasing role in the financial system. Private equity firms, investment funds and mortgage finance companies all employ alternative lending strategies that are lightly regulated, and Canada’s Office of the Superintendent of Financial Institutions is concerned about how much exposure Canada’s banks have to this type of lender, who are collectively known as non-bank financial intermediaries.
Interaction with major crypto-asset platforms could benefit both CBDCs and cryptocurrencies
Cryptocurrencies are an unregulated, ethically dubious financial instrument used by criminal organizations, terrorists and war criminals, writes Andy Holloway in the FP Investor Newsletter. But central bank digital currencies (CBDC) are the right side of regulation.
Delve: Cashing in or Losing Big on Cryptocurrency Yield Farms?
If something seems too good to be true, it probably is. Add cryptocurrency yield farms to that list. A complex investment strategy in decentralized finance markets, yield farming advertises eye-popping passively earned returns. While some investors boast impressive returns, for others the risks are unclear or even undisclosed before they invest, and the advertised returns never materialize.
Profs Beaumont, Schumacher and Weitzner awarded SSHRC Insight Development Grant
Congratulations to Paul Beaumont, David Schumacher and Gregory Weitzner, who were awarded a 2022-2023 SSHRC Insight Development Grant
“Call Me Maybe: Institutional Ownership and Corporate Call Policy”
Liquidity support for mid-sized US banks is a band-aid solution that masks underlying issues
In a five-day period in early March 2023, three mid-sized US banks collapsed: Silicon Valley Bank, Signature Bank, and Silvergate Bank. The United States Federal Reserve stepped in with an emergency lending program to support liquidity and mitigate the risk of contagion. While that will probably work in the short term, it doesn’t solve the problem, says Mo Chaudhury, an Associate Professor of Finance (Teaching) at Desautels.
Recap of DGFRC-sponsored finance workshop
The 10th HEC-McGill Winter Finance Workshop took place from March 26-28, 2023, in Ischgl, Austria, in collaboration with the Faculty of Law, Economics and Finance (FDEF) at the University of Luxembourg.
