Friday, April 3rd, Prof. Dr. Anil K. Makhija, Professor of Finance at the Fisher College at The Ohio State University, will present the research seminar entitled:
The Impact of Shareholder Power on Bondholders:
Evidence from Mergers and Acquisitions
Please find a brief CV below and the papers attached (Anil M.pdf,Anil M Shareholder Power Paper October 1 08 _2_.pdf)
The seminar will be held in Castellón de la Plana 8, room CP-201, at 15:00.
If you would like to meet with Prof. Dr. Anil K. Makhija , please contact Garen Markarian
Anil K. Makhija
Professor of Finance
http://fisher.osu.edu/research/faculty-expertise/finance/makhija
Professor Makhija maintains research and teaching interests in the fields of corporate finance and public utilities. He has focused on issues related to capital structure and investment policy and has examined them in the context of privatization in Eastern Europe.
His work has appeared in academic journals including the Journal of Finance, Journal of Financial Economics, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Economic Behavior and Organization and Land Economics. He is co-editor of Advances in Financial Economics, associate editor of Financial Review and serves on the editorial board of the Journal of Applied Business Research.
He received Fisher College's 2000 Pace Setters Graduate Teaching and other MBA teaching awards. While at the Katz School of Business, his numerous teaching distinctions included the 1995 Teacher Par Excellence Award from the management program for executives, the Distinguished Teacher Award from the 1994 Executive MBA class and the 1993 Chancellor's Distinguished Teaching Award, the university's highest award.
As associate dean for executive programs, Makhija is responsible for the development of the college's Executive MBA program and its noncredit offerings to practicing executives.
Thursday, April 2nd, Caterina Moschieri, Professor of Strategy at FCEE-Universidade Catolica Portuguesa, will present the research seminar entitled:
"The implementation and structuring of divestitures: The unit's perspective".
Please find a brief CV below and the paper attached (
The seminar will be held in Castellón de la Plana 8, room CP-202, at 15:00.
If you would like to meet with Prof. Moschieri, please contact us (tertulias@ie.edu).
Caterina Moschieri
Professor of Strategy
FCEE-Universidade Catolica Portuguesa
Caterina Moschieri has recently joined FCEE-Católica from IESE Business School (Spain) where she completed her Ph.D. in Management. She holds a degree in Economics with a Major in Political Economics (DES) from Bocconi University (Italy). Caterina taught at ESCI-Pompeu Fabra and at the University of Navarra (Spain) and has been involved in ad hoc consulting projects with different MNCs. Before her PhD, she worked for Reuters Financial Services in Italy, Switzerland, and the UK. Her research interests lie in the areas of Corporate Strategy, Corporate Entrepreneurship, Divestiture, M&As and Organizational Design
Selected Publications:
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"Research on Unbundling: A Synthesis", Journal of Management & Organization, 2008, with J. Mair. "Unbundling Frees Business for Takeoff", Financial Times Mastering Transaction Series, October 20th 2006, with J. Mair. |
http://www.fcee.ucp.pt/custom/template/fceetplgenpg.asp?sspageid=128&lang=2&docente=741
India Club organized the event "BOLLYWOOD EVENING" at IE, to give a glimpse of the Indian culture, music and food. The event started with a big bang with Indian music and food at Serrano. Wonderful climate and spicy food saw IE folks lining up for the mouth-watering Indian samosas and pakoras. Kaju Katli (Indian dessert made from cashew nut and milk) -imported from India especially for the event-
was the delight of the day. Students dancing to the humming tunes of Indian music could also be spotted at Serrano. This was followed by a Bollywood movie show. The audience, excited to know about Indian culture, was amazed by Indian culture, traditions and music depicted in the movie. India club promises to organize further events about India.
Dear Gourmets,
The first Gourmet Club 2009 wine tasting will take place on April 1st at 17h30, at S-105 during which we will discover Portuguese wine (thanks to Joana and Esty!).
This tasting will be drived by a professional wine taster, resident oenolgist of the Herdade do Gamito and will give us the opportunity to learn the wine tasting techniques and enjoy even more these wines:
Brands 1: Casa de Vila Verde
Type: White
Region: Vinhos Verdes, Sousa River valley
http://www.casadevilaverde.pt/index.php
Located in the demarcated region of Vinhos Verdes, in the heart of the Sousa River valley, Casa de Vila Verde is one of the oldest houses in the region.
Always property of the same family, Pinto de Mesquita, Casa de Vila Verde construction date is unknown, though the 12th or 13th century has been suggested as a likely period due to the existence of a medieval tower. Casa de Vila Verde was already mentioned during the reign of King Manuel I (1469-1521).
Brands 2: "Herdade do Gamito" and "Terras do Crato"
Type: Red
Region: Alentejo
Herdade do Gamito is a country estate located in Northwestern Alentejo. It is situated about 3 kilometers from the legendary Monastery of Flor da Rosa, in the county of Crato, former headquarters of the ancient Knights of the Sovereign Order of Malta in Portugal. The wine project of Herdade do Gamito was born from the surprising results of a tiny half-hectare vineyard that inspired its owner to expand it into its present 24 hectares and investing in a project of quality, resulting in award winning wines.
The ticket price for this event is 10 EUR, and places are limited to 35.
You can buy tickets at Thursday 26 between 12h-13h30 from:
Joana Dias Costa at Pinar
Estevam Sa da Bandeira at Castellón de la Plana
Joseph Freiha at Serrano 99
Thursday, March 26th, Beatriz García, Professor of Accounting at the Universidad Autónoma de Madrid, will present the research seminar entitled:
"Conditional conservatism and firm investment efficiency"
Please find the article attached (GGP_Conservatism_InvEfficiency_2009.pdf) and a brief CV below.
The seminar will be held in Castellón de la Plana 8, room CP-202, at 15:00.
If you would like to meet with Prof. Beatriz Garcia, please contact Prof. Garen Markarian (garen.markarian@ie.edu).
Beatriz García Osma
Professor of Accounting, Universidad Autónoma de Madrid
http://www.uam.es/personal_pdi/economicas/bgosma/index.htm
Education
PhD in Accounting and Finance, Lancaster University, UK, 2006
Research Areas
R&D expenditure, real earnings management, earnings targets, valuation
Teaching Areas
Accounting and Finance
Our much-loved Serrano 99 terrace welcomed two weeks ago the students who joined the Fundraising Gathering organized by the IE Women's Football Team. They had the chance to sun-bathe while eating some delicious pizza and tasty home-made goods prepared by the girls, accompanied by nice cold beers!
People enjoyed themselves as they chatted with friends and listened to music. Expectation grew near the end of the gathering when the WINNER of the raffle of 2 tickets for the Real Madrid - Atlético de
Madrid Football Derby was announced! The lucky winner was María Virginia Rios Villasmil currently enrolled in the Master in International Management.
The event was a great weekend kickoff with amazing results for the organizers who managed to raise around 600 EURO for their participation in the HEC MBA Tournament which will take place in May. All of it was possible thanks once again to the support of the IE community and the management team of the IE Football Club.
Virginia Rios shares her experience from Santiago Bernabéu: "I think this was one of my "to do's" in Madrid: Aleti - Real Madrid, "El Derby Madrileño". It was really exciting to presence this match. Although it ended 1-1, it was great to see some big stars in action. thanks!! good luck in Barcelona and Paris!!"
Attract highly qualified individuals from Business Schools and highlight Novartis objectives and vision, were one of the main points of the encounter of Francisco Ballester, CEO of Novartis Spain, with students, alumni and faculty members of the IE Business School, last February 5th.
During his conference, Francisco Ballester talked about Novartis: its profile, performance and future opportunities in the pharmaceutical field; officially announced "Novartis Mastermind Challenge" which -in its very 1st Edition for students enrolled at Spanish BS- aims at attracting the best talent for a career growth in Novartis; and reflected about the following "Key issues for managing your career path and become a leader":
· Knowledge and skills are at the bottom line of any good manager; but what makes a leader is attitude.
· Always display a positive attitude in every work you perform; enjoy it and your team will enjoy as well.
· Define your personal career mission statement. Find you own way but try not to rush to attain top executive positions: enjoy at every stage and do not perform just a "good" work; go beyond expectations.
· Network with your peers (overall the good ones)! They may be promoted.
· Promotion is usually a decision not taking by your boss, but the boss of your boss. Work as much as you can in projects involving him/her.
"Could not agree more with Francisco regarding displaying a positive attitude in the business environment. This is fundamental as future business leaders, especially nowadays" commented Carlos Tarrats, Communications Officer of the IE Marketing Club.
The audience showed great interest with questions that covered many topics related to the actual pharmaceutical industry, the company and the concerns of Novartis towards social responsibility, among many other inquiries.
Novartis Reputation:
Novartis ranked No 1 among pharmaceutical companies in Fortunes magazine's "World's Most Admire Companies " 2007 survey.
Novartis rank of reputation:
Dear IE Community,
IE Jordan Club would like to invite you to an informative session about the wonders of Jordan, its people, culture, business, and of course, the fantastic food which you will have the chance to taste in Serrano 99 terrace right after the event.
When: Wednesday, 25th of March, at 5:30-7:00 pm
Where: S-301
Please reserve your place at the following LINK.
Only 64 places available.
On March 4th 2009, Mr. A. Manfrinato, Mr. P. Mcateer and Mr.U. Talamanca, current IE students were invited by the IE Finance Club to share their previous working experience in Private Banking.
Mr. Mcateer opened the forum talking about its job in deVere and Partners, the world's largest Independent Offshore Financial Advisory Company. He started explaining that Private Banking is a term that indicates all those financial services provided by banks to private individuals investing sizable assets. The term "private" refers to the customer service provided directly to the client by dedicated bank advisers. He mentioned although historically private banking had been viewed as very exclusive service accessible just by very rich individuals, now it is opened to many more private investors and that the high-level form of private banking is better named wealth management.
Mr. Manfrinato worked for several years in Deutsche Bank. He outlined the fact that, although big banks like Deutsche Bank have the attitude to sponsor and sell their own financial products and although those do not result always the best investment for a client's perspective, it is often very risky for an investor to "fly solo"! In fact, investors have to be honest with themselves about how much they understand what they are doing and how much time they are able and willing to devote to staying on top of the market. It really does require a lot of time! The investors who really have the most to contribute are either retired or are people who have the time on their hands to really do it right. Private bankers have the market knowledge and tools to preventing clients from taking unnecessary risks and inflated returns such as it occurred during the tech bubble. Advisers who know your unique situation can offer valuable guidance on managing the portfolio of investments helping planning it also on the basis of your future expenses or goals.
Mr. Talamanca described his experience in Merrill Lynch and Banca Finnat Euroamerica, one of the major players in the Italian Financial world, specialises in the provision of "investment services" to institutional clients, private clients and businesses. He very clearly outlined the main responsibilities of a private banker, namely: continuous market analysis, decisioning and extension of credit to client; management of the loan portfolio; decisioning of overdrafts; providing advice to clients regarding their financial decisions. The job of a private banker is definitely very stressful. Waking up at dawn before the stock exchange opens is almost mandatory as much as dedicate entire week end to public relations with both old and potential clients. A successful private banker should also have very good networking skills. It is a matter of fact that clients want to know who is managing their money and often they decide to give their capital to bankers they trust more than to bankers who, although successful, they do not know.
www.enter.ie.edu) for their generous support of this event, as well as to Professor David Bach, Professor Gonzalo Garland and Mr. Antonio Montes for this event was a great success due to their wisdom and guidance.
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El Net Impact Club te invita a participar en segundo taller:
SOCIAL INNOVATION WORKSHOP
Una serie de eventos que promoverán tu conocimiento sobre Carreras en Responsabilidad Social
Fecha: Mar 18th, from 7PM to 9PM, en Maria de Molina 27- M101
"Como crear una mesa de diálogo entre los todos los involucrados en el negocio"
Aprende más sobre cómo establecer un diálogo entre la empresa y los diferentes agentes involucrados con la misma (proveedores, comunidad, empleados, etc), con el fin de crear mutuos beneficios y credibilidad en los negocios.
Invitado: José Mauricio Montaña Ardilla
Coordinador de Responsabilidad Social Empresarial de Holcim (Spain), compañía líder en manufactura y distribución de cemento. La visión de Holcim es proveer a la sociedad bases para el crecimiento en el futuro a través de la promoción de un beneficio sostenible. La empresa ha sido premiada como "Lider de la industria" de acuerdo al índice de sostenibilidad de Dow Jones por cuarto año consecutivo. Nacido en Colombia, Ardilla se graduó con honores del Master en Responsabilidad Social Corporativa del Instituto de Empresa en el 2007, MBA de la Escuela de Organización Industrial en Madrid y licenciado en Recursos Humanos y Sociología y Antropología en Colombia.
IE Net Impact Club aspira a concientizar, inspirar y proveer a la comunidad IE de herramientas para una acción socialmente responsable en los negocios. netimpact@ie.edu
Registro AQUÍ. Capacidad Limitada (30 lugares).
Networking cocktail at Lagoa Bar, at 9 PM.
FINANCE DEPARTMENT
RESEARCH SEMINARS
IE BUSINESS SCHOOL
Dear colleagues:
TOMORROW, Wednesday 11th of March, Richard Kihlstrom, Professor of Finance and Chairman of the Department of Finance at the Wharton School, University of Pennsylvania, will present the research seminar entitled:
"Risk aversion and the elasticity of substitution in general dynamic portfolio theory: Consistent planning by forward looking, expected
utility maximizing investors"
Please find the article attached (REKJME.pdf) and a brief CV below.
The seminar will be held in Pinar 18, room CP-211, at 14:00.
If you would like to meet with Prof. Dr. Richard Kihlstrom, please contact Jose Marín (jose.marin@ie.edu).
Hoping you can make it. Best regards,
Anna Downarowicz
Clara Agustín
Prof. Dr. Richard Kihlstrom
Ervin Miller-Arthur M. Freedman Professor of Finance at the University of Pennsylvania
Chairman of the Department of Finance at the Wharton School
Education
PhD in Economics from the University of Minnesota
Bachelor's degree in Economics from the Purdue University.
Research and Teaching Areas
His research and teaching interests are in the field of information and uncertainty in economics, financial market equilibrium and managerial incentives
Publications
Professor Kihlstrom is the author of numerous articles published in top finance and economics journals, including Econometrica, Bell Journal of Economics, Journal of Political Economy, Review of Economic Studies, Journal of Public Economics, Journal of Banking and Finance, International Economic Review, American Economic Review and Journal of Economic Theory. He is also a member of the editorial boards of several economics and finance journals, including the Journal of Economics and Management Strategy and the Review of Quantitative Finance and Accounting.
Other experience
Aside from his excellent scientific and teaching career, Professor Kihlstrom participated as expert consultant in projects of the United States Agency for International Development, National Science Foundation, United States Tariff Commission and United States Department of Justice. He has been a fellow of the Econometric Society since 1981 and has been awarded several professional honors.
"OPTIMAL NONLINEAR PRICING IN TWO SIDED TRADE SHOW MARKETS"
Please find a brief CV below. The paper is not available at this time.
The seminar will be held in Castellón de la Plana 8, room CP-202, at 15:00.
If you would like to meet with Prof. Dr. Karen Gedenk, please contact Clara Agustin (clara.agustin@ie.edu).
Karen Gedenk Professor of Marketing, Cologne University Education Ph.D., University of Kiel: M.A., WHU Graduate School of Management Sales promotions, Pricing, Market Research and Trade Fair Management Teaching Areas Marketing Research and Consumer Goods Marketing at the University of Cologne. Publications Dr. Gedenk has published her work in leading academic journals, including "The Journal of Marketing", "The Journal of Marketing Research", "Journal of Retailing", and "International
Research Areas
Presents:
Entrepreneurial Forums
When: Thursday March 12, 2009 at 7:00 PM
Where: Room: S-201
A space created for you and by you to discuss specific entrepreneurial ideas and of your interest.
• Meet people with similar business interests as you
• Share your experiences and listen to theirs
• Expand your network
• Find new business opportunities
• Have fun
Come to the inaugural meeting and participate in the creation of these forums. We already have some interesting initiatives: Family Business, Tourism in Latin America, Social Entrepreneurship... What would you like to propose?
Please, register HERE. There are 64 PLACES available.
Once you register, the attendance is obligatory. Failure to comply will result in barring you from future club events. Thank you for your understanding and cooperation.
On February 26th, 2009, Geoffrey Phillip Martin, a Personal Trainer in Madrid and formerly an MBA student and Strategy Consultant, invited the IE community to presentation about the "Sustainable MBA Student".
"There were two key objectives of the presentation", Geoffrey comments:
"1. Educate people about the importance of prioritizing their health and fitness;
2. Give people the tools for actually finding time in their day and then using that time as effectively as possible to achieve their fitness goals.
With the above in mind, I educate concerning the health risks associated with poor physical health. I then provide the knowledge concerning metrics for gauging your own health, effective exercise routines, techniques for optimizing concentration in study routines, tools for dealing with stress, advice with regard to nutrition and tips on weight management.
Examples are provided of balanced workouts and also the 15 minute workout (or "hotel" workout) that have been developed over the years for executive clients.
The concepts of sustainability, long term planning and transformational change that are applied daily in the MBA classroom are projected back at the student. Ultimately your aim is to be a good role model for your subordinates or family, evidencing that it is possible to be successful from a career viewpoint AND be a fit and healthy individual."
The presentation was relevant not only for MBA students, but for all current or future professionals. Here you can find some comments of the participants:
"It was very informative and useful. I went to the gym twice since then (first exercise since I've been in Spain!)"
"Geoff's session was extremely informative and simple. He was talking to all of us ... not selling or consulting like a typical "Know All" consultant!"
"I thought it was a great presentation. The lessons learned extend far beyond this year in the MBA program as we will all be very busy in our post-MBA lives. Geoff showed how (relatively) easy it is to stay fit without spending hours in the gym. Though I exercise regularly, I still learned some things in the presentation."
"- The presentation is a unique one but has an immense relevancy to the MBA curriculum: how to deal with stress, eliminate or reduce pressure, improve physical performance to maximize the mental one.
- Geoff has been able to transmit the concepts in a very interactive (with physical exercises or examples in class), spontaneous, fresh and nice way. Enjoyable!!
- The arguments were presented with a professional cut and attention to specific body exercises, diet suggestions, tips and tricks to maximize the students' benefit
- I loved it, it is key to highlight how much is important to have a balance between the job (or the MBA) and the free time/personal priorities we have.
- Geoff was seminal in inspiring us to have a balanced lifestyle even in the future when we, as managers, will have to set the example for our team."
Saturday's Football Derby between Real Madrid and Atlético de Madrid!
The match will take place this Saturday, March 7th at 20:00.
For just €6 you get a chance to win 2 tickets for the match in a great location!
Buy them at:
N2 - Carmen
N3 - Danielle & Erszebet
N4 - Joerdis
N5 - Joana & Jeremy
N6 - Vanessa
MM Program - Farah
Or at the Women's Football Team Gathering this Friday at 15:00 at the terrace of Serrano 99.
Make it €10 and get 2 slices of pizza + drink and a raffle ticket!
The raffle draw will be on Friday at 17:00!!!!
Get your raffle tickets today!
Organized by the IE Football Club
THERE ARE 64 PLACES AVAILABLE.
Once you register, the attendance is obligatory. Failure to comply will result in barring you from future club events. Thank you for your understanding and cooperation.
Please join the Emerging Markets Club and IE Net Impact in welcoming Enrique V. Iglesias, Secretary General of the Iberoamerican Secretariat General and Former President of the Inter-American Development Bank, and Danilo Piaggesi, Knowledge Economy Coordinator at the Inter-American Development Bank for a presentation on the:
Knowledge Economy: New Challenges for Innovation, Knowledge, and Sustainable Development in Latin America and the Caribbean.
The event will be held on Thursday, March 5 in S-105 at 17:00 hrs. As space is limited, please confirm your attendance HERE.
Once you register, the attendance is obligatory. Failure to comply will result in barring you from future club events. Thank you for your understanding and cooperation.