The Mexican Institute of Finance Executives (IMEF) and EGADE Business School held the VIII FIMEF Financial Research Congress on August 30th and 31st, bringing together over 200 researchers from 17 Mexican states and countries, at the School’s Monterrey site.
In his opening message, Ignacio de la Vega, Dean of EGADE Business School, stressed the relevance of the topics to be addressed during the event.
“There are two specific areas that are being introduced, I think for the first time, at this congress. One is the intersection between finance and energy, evidently a topic of particular relevance in Mexico and many other countries in the region, and secondly, the commitment to continue to work on, discover, the implications of fintech companies”, De la Vega mentioned.
During the opening ceremony, Luis Contreras Aguirre, President of the IMEF Research Foundation, and Fernando López Macari, National President of IMEF, presented the III FIMEF Finance Diamond Award to Marco Avellaneda, Director of the Financial Mathematics Division at the Courant Institute of Mathematical Sciences – University of New York, in recognition of his professional career and contribution to science in the field of finance.
In addition, research professor René Cabral Torres, in his address as chair of the VIII FIMEF Financial Research Congress, indicated that the aim of the event is to promote and disseminate financial research in the academic context, and strengthen ties between researchers from Mexico and other countries.
“The Organizing Committees worked hard to schedule a total of 162 papers, distributed over five simultaneous sessions and 42 working sessions. In this way, the conference offered spaces for driving idea exchange discussion and the development of collaboration opportunities in the fields of finance, economics and business,” commented Dr. Cabral, who is also Director of the Department of Business Finance and Economics of EGADE Business School.
The congress included four lectures by internationally renowned keynote. The first talk was given by Avellaneda on “Dynamic Models for Volatility Futures (VIX) and Applications”.
“Selling VIX belongs to a group of strategies that gain with low market volatility, but undergo considerable losses when there is a shock or an extended period of uncertainty. International conditions, rate increases in the United States, protectionism in foreign trade, currency vulnerability in Argentina, Turkey, the situation in the Middle East, and inflation suggest that selling volatility as a strategy should occupy a lower position in asset management than over the past few years,” said the award winner.
Moreover, Daniel Chiquiar, Director of Economics Research at Banco de México, offered the conference “Evolution and Perspectives of the Mexican Economy”, while Patrick Schaefer, Director of the Hunt Institute for Global Competitiveness of the University of Texas at El Paso, talked about “The Comparative Financial Systems of Chihuahua and Texas and their binational relevance”.
“Given the presence and possible persistence of factors that, owing to their nature, imply a risk of inflation and its expectations, monetary policy will be adjusted promptly and firmly to achieve its convergence to its target of 3%, and to consolidate the anchoring of inflation expectations in the medium and long terms so they can reach this goal,” Chiquiar explained.
At the end of the congress, María Ariza, CEO of BIVA, offered the final conference, in which she highlighted the role played by academia in the creation of the new Stock Exchange in Mexico.
“At least hundreds of academic documents were studied during the first years of the project’s planning. BIVA was created as a combination of the best practices in the stock-market environment, documented and compared by academics from across the world. Academia allows us to make comparisons at the international level and to know our limitations to work on them. BIVA hopes to work very closely with academia, in order to continue to learn from the same and generate synergies”, commented Ariza.
The congress also included the Journal Editor Panel, moderated by Teofilo Ozuna, Associate Dean of Research of EGADE Business School, and the participation of Bryan Husted, research professor at the School and editor of Business & Society; Fausto Hernández Trillo, editor of Trimestre Económico; Francisco López-Herrera, editor of Revista Contaduría y Administración, and Gerardo Dubcovsky coeditor of Revista Mexicana de Economía y Finanzas.
Other activities at the conference were the presentation of awards for the best papers, the prize for the best undergraduate student posters, and the presentation of the EGADE Business School Burkenroad Reports.