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Academic Fellow | Corporate Fellow
Every year CAF invites a finance researcher of the highest scholarly standing to come and visit CAF as the Academic Fellow of the year. CAF Fellows in the previous years were Franklin Allen (2005), Richard Roll (2006), and Raghuram Rajan (2007). |
CAF Academic Fellow 2008 - Professor Michael Brennan
CAF Academic Fellow 2007-Professor Raghuram Rajan
CAF Academic Fellow 2006- Professor Richard Roll
CAF's first Academic Fellow 2005- Professor Franklin Allen
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 CAF Academic Fellow 2008 - Professor Michael Brennan
Professor Michael Brennan (UCLA Anderson and London Business School) has accepted to be CAF Academic Fellow 2008. He will deliver the keynote address at the CAF flagship summer research conference this year.
Professor Brennan’s research interests include asset pricing, corporate finance, the pricing and role of derivative securities, market microstructure, and the role of information in capital markets. He has published extensively in all of these areas. He is currently working on several research topics, including the problem of asset allocation when investors face time-varying opportunity sets, initial public offerings and the allocation of control rights in the corporation, the determinants of international flows of portfolio investments, the role of convertible securities in corporate finance, and corporate hedging strategies.
A former president of the American Finance Association, he has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the US.
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CAF Academic Fellow 2007-Professor Raghuram Rajan
 Professor Rajan is currently Eric J. Gleacher Distinguished Service Professor of Finance, Graduate School of Business, University of Chicago. Until recently, he was the Economic Counselor and Director of Research, International Monetary Fund, the first finance researcher and the youngest person ever to hold this very influential research position. Among numerous honors and distinctions, he received the inaugural Fischer Black Prize awarded biannually by the American Finance Association for outstanding contributions to finance by a scholar under 40.
Professor Rajan was the force behind CAF’s birth, and drafted the concept note for CAF along with Professor Bhagwan Chowdhry. They also recruited Professor Sankar De from Haas School of Business, Berkeley, for the position of Executive Director, CAF, in 2003, and CAF was born the year after. Professor Rajan had already been deeply involved with the ISB, and was the first Area Leader in finance during the ISB’s formative years, a position he relinquished when he moved to IMF in 2003. As CAF Academic Fellow 2007, he visited the Centre during the Summer Research Conference in August, 2007 and delivered the keynote address at the conference. CAF researchers are already working with him on a policy project of national importance.
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.jpg) CAF Academic Fellow 2006 -Professor Richard Roll
Richard Roll holds the Japan Alumni Chair in Finance at UCLA Anderson. He is also a principal of the consulting firm, Compensation Valuation, Inc. Other business experience includes the Boeing Company where, in the early 1960's, he worked on the 727 and wrote the operating manual for the first stage booster of the Saturn moon rocket. During 1985-87, he was a vice-president of Goldman, Sachs & Co., where he founded and directed the mortgage securities research group. He has been a consultant for many corporations, law firms, and government agencies, and has served on several boards.
Professor Roll was on the faculty at Carnegie-Mellon University, The European Institute for Advanced Study of Management in Brussels, and the French business school, Hautes Etudes Commerciales, near Paris. He joined the UCLA faculty in 1976.
He has published two books and more than seventy articles in technical journals. His 1968 doctoral thesis won the Irving Fisher Prize as the best American dissertation in economics. He has won the Graham and Dodd Award for financial writing three times and the Leo Melamed Award for the best financial research by an American business school professor. Professor Roll is the past president of the American Finance Association and is a fellow of the Econometric Society. He has been an associate editor of eleven different journals in finance and economics.
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| CAF's first Academic Fellow (2005)- Professor Franklin Allen
.jpg) A member of CAF advisory board and a finance scholar of worldwide standing, Professor Franklin Allen (Wharton) recently visited CAF as the first Academic Fellow. CAF has plans to invite distinguished academicians and corporate executives for short terms as Academic or Corporate Fellows, as the case may be. The fellows will come to the ISB to interact with the faculty and students, including working on research projects with the ISB faculty.
Professor Allen is currently the Nippon Life Professor of Finance, Professor of Economics, Co-Director, Financial Institutions Center, The Wharton School, University of Pennsylvania. He has been with the Wharton School since 1980, named Nippon Life Professor of Finance, 1994; Co-Director, Financial Institutions Center, 2000-present. He has also held visiting appointments at University of Oxford; University of Tokyo; University of Frankfurt; and Princeton University. Professor Allen was the President of the American Finance Association in the year 2000. He has received many other recognitions for his research and teaching. His research areas include corporate finance, asset pricing, and economics of information.
During his visit, he attended the inaugural meeting of CAF advisory board on August 5, delivered the keynote speech at the Summer Research Conference 2005 on August 7, and worked on a research project in law, institutions, finance, and growth in India. With his support, the Financial Institutions Center at Wharton and CAF will hold joint biennial conferences. The first conference took place in April, 2007, at Wharton School.
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