Foundation for the Advancement of Research in Financial Economics (FARFE)

Foundation for Advancement of Research in Financial Economics (FARFE)

History of FARFE

The Foundation for Advancement of Research in Financial Economics was established in 2006 as a 501(c)3 organization by a group of former students of the already legendary, Steve Ross, to encourage foundational research in the financial economics of the type and quality that is exemplified by the research of Steve Ross. Fifty-one former students, for whom Profession Ross served as an academic advisor during their work towards their doctoral degrees, came together in 2006 and determined that they would establish this foundation in order to grant a major award, called the Stephen A. Ross Prize in Financial Economics, as the best way to honor Steve and the contributions he has made personally to the field of finance, as well as the contributions that he has made to each of their careers in his more than 35 years of teaching at the University of Pennsylvania, Yale and MIT. Widely know as the inventor of the Arbitrage Pricing Theory, Professor Ross was a pioneer in the area of financial derivatives and interest rate models. His is the co-author of "Corporate Finance," the primary corporate finance teaching text used in business schools and finance graduate programs, now in its eigth edition.

The Stephen A. Ross Prize in Financial Economics

The initial endowment of the Stephen A. Ross Prize in Financial Economics has been established by the founding members, who have contributed or raised just over $600,000 by October of 2007. The existence of FARFE and the prize were announced on October 12th, 2007 in Dedham, Massachusetts, at the Steve Ross Conference and symposium. The foundation anticipates awarding the first prize of $100,000 for excellence in financial economic research by the end of 2008. For more information about the Stephen A. Ross Prize in Financial Economics, contact Jonathan Berk at berk@haas.berkeley.edu.

2007 Conference Participants

Anat Admati Stanford University

Tobias Adrian Federal Reserve Bank of New York

Torben Andersen Northwestern University

Jonathan Berk University of California Berkeley

John Campbell Harvard University

Andrew Carron NERA Economic Consulting

Zhiwu Chen Yale University

Greg Connor London School of Economics

Tom Copeland Massachusetts Institute of Technology

Liliane Crouhy-Veyrac HEC, Jouy-en-Josas, France (Emerita)

Michel Crouhy Paris CDC IXIS Capital Markets

Doug Diamond University of Chicago

Phil Dybvig Washtington University

Isil Erel Ohio State University

Steven Feinstein Babson College

Evan Gatev Boston College

William Goetzmann Yale University

Ramy Goldstein IV Capital London

Mark Grinblatt University of California, Los Angeles

Ilan Guedj University of Texas

Les Gulko Cove Island Ventures

Li He Deutsche Asset Management

Jennifer Huang University of Texas

Gur Huberman Columbia University

Jeremy Ko Pennsylvania State University

Leonid Kogan Massachusetts Institute of Technology

Larry Kotlikoff Boston University

Steve Leroy University of California, Santa Barbara

Massimo Massa INSEAD

Peter Niculescu FannieMae

Gyutaeg Oh Chung Ang University

Stavros Panageas University of Pennsylvania

Antti Petajisto Yale University

Paul Pfleiderer Stanford University

Steve Ross Massachusetts Institute of Technology

Chester Spatt Carnegie Mellon University

Nancy Stokey University of Chicago

Anant Sundaram Dartmouth College

David Teece University of California Berkeley

Jonathan Tiemann Tiemann Investment Advisors, LLC

Scott Urdang Urdang Associates

Mike Walsh International Investment and Underwriting

Kate Warne Edward Jones

Larry Weiss Private Investor

Mark Westerfield University of Southern California

Jaime Zender University of Colorado Boulder

FARFE News Links

Forbes, "New, $100,000 Prize Created to Honor Finance and Economics Legend Stephen A. Ross" of October 13, 2007, Business Wire press release. MIT Sloan Manage Newsroom: New, $100,00 prize created to honor finance and economics legend Stephen A. Ross

FARFE Press Release: Foundation for the Advancement of Research in Financial Economics Awards First $100,000 Academic Prize, December 9, 2008. Finance Scholar Hayne Leland Recognized.

The European Financial Review: Finance Professor Evaluates Optimal Mix of Debt and Equity in Celebrated Model.

FARFE Press Release: Foundation for the Advancement of Research in Financial Economics Awards Second $100,000 Academic Prize, December 10,02010. Economics Scholars Nobuhiro Kiyotaki and John Moore Recognized.