Welcome to the Geneva Finance Research Institute (GFRI).

GFRI research is multidisciplinary and encourages synergies between the Geneva School of Economics and
Management (GSEM
), the Faculties of Law, Psychology and Science of Education.  GFRI collaborates in particular with the Center for Banking and Financial Law and the National Center for Research in Affective Sciences, both located at the University of Geneva.


GFRI also engages in knowledge transfer activities such as conferences, seminars and public debates on finance topics related to Portfolio Management and Corporate Governance.

GFRI is delighted to announce its Finance Seminar Series supported by Geneva Financial Center:

Mar 20, 2015

Prof. Fabio Trojani, USI, 14.15-15.05, room 3250 (Unimail)

Mar 26, 2015

Prof. Ralph Koijen, London Business School, 12.15-13.45, room PS02

Apr 2, 2015

Prof. Schwenkler Gustavo, Boston University, 12.15-13.45, room PS02

Apr 9, 2015

Prof. Cornelia Woll, Sciences Po, 12.15-13.45, room PS02

Apr 16, 2015

Prof. Martin Weber, University of Mannheim, 12.15-13.45, room PS02

Apr 23, 2015

Prof. Alberto Manconi, Tilburg University, 12.15-13.45, room PS02

Apr 30, 2015

Prof. Luigi Guiso , EIEF, 12.15-13.45, room PS02

May 5, 2015

Prof. Jay Shanken, Emory University 12.15-13.45, room PS02

May 21, 2015

Prof. Xuan Yuhai, Harvard Business School, 12.15-13.45, room PS02

May 28, 2015

Dr. Basten Christoph, FINMA,12.15-13.45, room PS02


Latest News

Date added: Mar 10, 2015 Prof. Olivier Scaillet's paper "Jumps in high-frequency data: spurious detections, dynamics, and news"

has been accepted for publication in "Management Science" journal.

Date added: Feb 10, 2015 Michel Girardin sur le taux de change réel entre franc suisse et euro
Date added: Jan 22, 2015 Fin du taux plancher: un tsunami pour l’économie suisse?

TTC, émission télévisée  avec François Savary, stratégiste à la banque Reyl, Michel Girardin, professeur d’économie à l’Université de Genève et Nicolas Brunschwig, président de la Fédération des Entreprises Romandes.

Date added: Nov 21, 2014 "Perspectives on the global economy" VIP Lecture

The Geneva Financial Center Foundation and the GFRI

were delighted to host
a private lecture given by
Dr. Philipp Hildebrand Vice Chairman
of BlackRock on the 19th of November 2014.
The Keynote topic was
"Perspectives on the global economy".
The lecture was followed by a dining cocktail
with Executives from the Geneva Financial Services
who attended the event in Geneva.

Date added: Nov 20, 2014 Prof. Michel Girardin on TTC Television show
Date added: Nov 3, 2014 Master in Finance, Graduation Ceremony 2014

all the cereomony pictures are available here

Date added: Oct 16, 2014 2nd Geneva Summit on Sustainable Finance

We are delighted to invite you to the upcoming 2nd Geneva Summit on Sustainable Finance. The event will take place in Geneva on November 27th, 2014 from 8.30 am to 5.30 pm. Mr. Yngve Slyngstad (CEO of Norges Bank Investment Management) will be the Keynote speaker. Norges Bank Investment Management (NBIM) is the asset management unit of the Norwegian central bank (Norges Bank). NBIM manages the Government Pension Fund Global, often referred to as the Norwegian oil fund. The Government Pension Fund Global is the largest sovereign wealth fund with a market value of about USD 870 billion. The fund owns about 1.3% of the world’s listed companies and 2.5% of Europe’s listed companies.

Please visit the website at http://www.geneva-summit-on-sustainable-finance.ch/ for more information and registration.

Date added: Oct 10, 2014 GFRI Activity Report January -June 2014

Date added: Oct 8, 2014 WANTED : full-time research and teaching assistant in real estate finance and investments

Full details and application form available here


Date added: Sep 4, 2014 Des chercheurs en finance obtiennent un Sinergia Grant de 2,1 millions de francs
Date added: Aug 18, 2014 Structured Debt Ratings: Evidence on Conflicts of Interest

Structured Debt Ratings: Evidence on Conflicts of Interest by Matthias Efing and Harald Hau.

forthcoming in the Journal of Financial Economics.

Abstract: We test if issuers of asset- and mortgage-backed securities receive rating favors from agencies with which they maintain strong business relationships. Controlling for issuer fixed effects and a large set of credit risk determinants, we show that agencies publish better ratings for those issuers that provide them with more bilateral securitization business. Such rating favors are larger for very complex structured debt deals and for deals issued during the credit boom period. Our analysis is based on a new deal-level rating statistic that accounts for the full distribution of tranche ratings below the AAA cut-off point of a structured debt deal.

Date added: Jul 15, 2014 Will Central Banks avoid the next financial crisis?

Dr. Michel Girardin's video presentation at the CFA Society Switzerland

Date added: Jul 10, 2014 AGEFI Live TV

Interview with Michel Girardin on economic growth & performance

Date added: Jun 20, 2014 Prof. Gibson Brandon
Date added: May 5, 2014 Best Paper Award - Prof. Tony Berrada
Prof. Tony Berrada's paper "Asset Pricing with Regime-Dependent Preferences and Learning", coauthored with J. Detemple and M. Rindisbacher, has won the Best Paper Award in the 2014 Mathematical Finance Days competition at the" Institut de Finance Mathématique de Montréal" (IFM2).

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