The Center for Global Financial Studies (CGFS)

Some Facts … Siena is AACSB accredited, thanks to a school-wide effort to produce evidence of sufficient research output …but we need to continue our efforts in the field of intellectual contributions. As of fall 2006, finance faculty have published, on average, 5 publications in refereed academic journal over the past 5 years (as compared to 5 for management, 4 for marketing, 3 for economics, 2 for accounting, and 2 for quantitative business). At the last FMA annual conference, Siena College had 6 papers presented, as compared to only 12 for RPI and 1 for U. Albany (2 research universities). Some of our publications are in Journals popular among you: The Financial Analyst Journal, The Journal of Portfolio Management, the Journal of Investing, the Journal of Private Equity, the Financial Service Review, etc. So we have the capabilities to achieve scholarship excellence, however we are running out of internal research resources—i.e., our research data are starting to be obsolete, our statistical/mathematical/econometric software packages need updates, the only endowed chair position in the school of business is leaving the finance department ($ for research are then gone). Unless, we join forces with faculty from other university with research resources, we cannot sustain (or surpass) the current level of research productivity. Which means that, in the current situation, joint research efforts within our finance department will suffer, or worse…disappear. …and of course, if research suffers, the quality of our teaching will be affected, and ultimately, the likelihood of keeping AASCB accreditation will be affected.

A Remedy? If we want to be successful as a “finance department”, and not as individuals within a department, we need a resources-generating umbrella concept that provides us with our scholarship and teaching support needs. That is, an umbrella concept that brings together the finance department capabilities and provide a budget (seed money) to help sustain our excellence in research and, therefore, in teaching. The Center for Global Financial Studies (CGFS) is our umbrella concept.

CGFS Existing Supports for excellence: The Student Managed Investment Fund; The Raub Trading Room; The Library resources related to financial studies; The Office for Sponsored Research; The FMA chapter; The Career Center Other supports for excellence: $10,000 per year for 3 years

Excellence in Research Research collaboration with academics and professionals. Research data Research seminars, lecture series, working paper series The Journal of Global Financial Studies.

Excellence in teaching Monetary support for student travel (conferences, investments and trading competitions), licensing and certification related to financial studies. Publication of students’ investment reports, achievements and research outputs coming from the Student Managed Investment Fund and class projects. Encourage and cultivates students’ interaction with professionals and alumni to facilitate the process of finding summer internships and job opportunities in the financial services area. Seek for foreign student recruitment for the finance program.

How can you get involved? We need your help to develop this center: –Suggestions or new (or better) ideas that can be implemented by the center. –Mentor our top students and help them find a job/internship. –Invite us (students and/or faculty) to your firm and, more generally, help us interact with the industry. –Come to our classrooms. –Help us find money to sustain our research needs (purchase of databases subscriptions). –May be allow us to access some of your data/databases for research. –If you are interested in researching and publishing, join forces with a finance faculty to write a paper.