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Financial Markets Group

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The Financial Markets Group

Department of Finance
London School of Economics & Political Science
Houghton Street
London WC2A 2AE
United Kingdom

Tel: +44 (0) 207 955 7002/6301/3569
Email:  fmg@lse.ac.uk

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The Financial Markets Group Research Centre at LSE is one of the leading centres in Europe for academic research into financial markets.
Financial Markets Group

Submissions open for Deutsche Bank Award in Financial Risk Management and Regulation 2015

The FMG invites submissions for the annual Deutsche Bank Award in Financial Risk Management and Regulation. The generous award is given to outstanding LSE PhD students - or LSE MSc students who intend to pursue a PhD at LSE - who have demonstrated excellence in an area of finance research including Financial Risk Measurement, Risk Management, or Financial Regulation. The closing date for applications is Friday 5th June 2015. Read more.

 
LSENABsilverglobe

8th Annual Paul Woolley Centre Conference - apply to attend

The 8th annual Conference of the Paul Woolley Centre for the Study of Capital Market Dysfunctionality will take place at the London School of Economics on 4-5 June 2015, providing an excellent opportunity to disseminate research and stimulate new ideas on the broad themes of contracts and organisational structure, market frictions and asset prices, allocative efficiency and the macro-economy, and policy implications. More information / apply to attend.

 
Robert Shiller

Public Lecture: Irrational Exuberance: as relevant as ever

Professor Robert J Shiller. 1 June 2015, 6.30-8pm

Nobel-prize winner Robert Shiller cautions that irrational exuberance among investors has only increased since the financial crisis. The post-subprime boom may turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. Read more / book tickets.

 
FMG98

FMG Review 98 published

The latest Review newsletter is now available for free here.

In this edition read the seventh annual Paul Woolley Centre Conference, the Economic Networks and Finance Conference, and FMG seminars, events, news and publications.

 
The City

LSE Public Lecture: A Conversation on Central Banking

Speakers: Alan Budd and Mervyn King

Lord King and Sir Alan Budd join the FMG's Professor Charles Goodhart to look back at central developments in Banking over the last two decades. Watch event video.

 
MPC member David Miles

MPC member David Miles at LSE

On Tuesday 30th September MPC member, David Miles gave a public lecture at LSE. To a packed out venue Mr Miles spoke about the paradox of giving guidance on the course of monetary policy in an uncertain economic environment and the subsequent lessons for setting policy. A transcript of his speech is available here. 

 

Photograph of Dimitri Vayanos

Risk return relationship has been upended [pdf]
ft.com, 5 November 2014

Prof Dimitri Vayanos' (Director of the PWC) and Dr Paul Woolley's recent paper "Asset Management Contracts and Equilibrium Prices" is discussed in an article for the FT.

 

Women rise at Fidelity, Santander as gender gap persists

Bloomberg.com, 14 October 2014

The number of women holding top roles in banking and asset management, though improving, still lags behind other industries. While women have more than half of all jobs in financial services, their ranks drop off between the mid-manager and executive levels. Dr Tom Kirchmaier is quoted. Read more.

The myth of expertise
Investorschronicle.co.uk, 20 October 2014

Research by Prof Christopher Polk (Director of the FMG) is quotes in this article about whether fund managers actually have any expertise. Read more.

Prison prospect makes UK bank boards less appealing
Bloomberg.com
, 8 October 2014

The UK is preparing to introduce some of the world's toughest rules on financial conduct, but what will the consequences of this be?Dr Tom Kirchmaier (FMG) is quoted. Read more.

Time to shake up housing finance
ft.com, 29 September 2014

In this article for the Financial Times Prof Charles Goodhart argues that the focus on structural reform should go beyond banking. Read more. A subscription to the Financial Times online may be needed to access this article.

Double agents
The Economist,
13 September 2014

Dr Paul Woolley and Prof Dimitri Vayanos' new paper 'Asset Management Contracts and Equilibrium Prices' is discussed in an article for The Economist about the relationship between investors and fund managers.

Read more.

Ballooning finance
voxeu.org, 21 August 2014

The Global Crisis has intensified debates over the merits of financial innovation and the optimal size of the financial sector. In this column for Vox, Dr Paul Woolley and his co-authors present a model in which the growth of finance is driven by the development of a financial innovation. Read more.
Robert Shiller

Public Lecture: Irrational Exuberance: as relevant as ever

Professor Robert J Shiller. 1 June 2015, 6.30-8pm

Nobel-prize winner Robert Shiller, who warned of both the tech and housing bubbles, cautions that irrational exuberance among investors has only increased since the financial crisis. With high stock and bond prices in the US, and rising housing prices in many countries, the post-subprime boom may turn out to be another illustration of Shiller's influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. Read more / book tickets.

 
Kershaw_L_12

Corporate Governance at LSE:Short-termism and Shareholder Rights

21st May 2015, 6.00pm - 7.30pm

Room LG.04, 32 Lincolns Inn Fields, LSE

David Kershaw|, William Underhill|, Andrew Wood

In the Second Seminar of the Short Termism series we consider whether Shareholder rights - including removal rights, pre - emption rights, and transaction approval rights - can act as mechanisms for transmitting market short-termism into the board room.

Register: fmg@lse.ac.uk