Research

Annual Financial Market Symposium

The finance department sponsors an annual financial market symposium. The conferences highlight UAlbany as a research center, promote the research activities of School of Business faculty and involve finance researchers from across the U.S. Our alumni and students benefit from access to the most advanced research finance and interactions with these scholars.

2017 The University at Albany's 4th Financial Market Symposium: Alternative Investments and Corporate Governance

2016 The University at Albany's 3rd Financial Market Symposium: Hedge Funds

2015 The University at Albany's 2nd Financial Market Symposium: Private Equity

2014 The University at Albany's Inaugural Financial Market Symposium: Hedge Funds and Regulation

Faculty Research Highlights

Sentiment and the Effectiveness of Technical Analysis: Evidence from the Hedge Fund Industry
Journal of Financial and Quantitative Analysis, December 2016, pp. 1991-2013. by David M. Smith, Na Wang, Ying Wang, and Edward Zychowicz, (Smith and Y. Wang are from the UAlbany Department of Finance)

For several decades a dispute has raged among finance practitioners about the validity of making investment decisions using technical analysis. Technical analysts use historical price-trend information to inform their security selection and transaction timing decisions.

Cultural Differences and Cross-Border Venture Capital Syndication
Journal of International Business Studies, 2016 (47), 140–169 by Na Dai (University at Albany) and Rajarishi Nahata (Baruch College)

Professor Na Dai and her co-author, in their recent publication at the Journal of International Business Studies (Impact Factor: 3.620; Financial Time Rank of Top 50 Business Journals), examine how venture capitalists decide their syndication strategy in cross-border VC investments given the rise of cultural differences across nations.

Financial Contagion Risk and the Stochastic Discount Factor
Journal of Banking & Finance, 2017 (77), 230-248. by Louis R. Piccotti (University at Albany)

Financial intermediaries serve a special role in the economy through investing on households’ behalf and by issuing credit, both of which can affect the aggregate consumption set. As financial intermediaries experience negative shocks, household wealth decreases and credit may be constrained. In the aggregate, this diminished wealth and credit constraint leads to levels of consumption and consumption responsiveness being diminished. Conversely, as financial intermediaries experience positive shocks, household wealth increases, credit availability is liberated and consumption increases. Financial intermediaries’ propensity to experience positive and negative shocks contemporaneously shocks aggregate consumption possibilities in the same direction. Modern asset pricing theory proposes that risk-averse investors with concave utility require a greater return on securities whose returns experience greater covariation with contagious intermediaries since these securities have high payoffs in good times and low payoffs in bad times. I argue that financial contagion risk is not diversifiable and that it affects the equity risk premium.