BIBF, in collaboration with the Bahrain chapter of the Global Association of Risk Professionals (GARP) USA, recently organised a seminar highlighting some of the most profound ideas in the financial economics discipline to date, especially concepts for which the Nobel prizes were awarded and considered the contribution to real world practices.
The seminar, titled “Nobel Ideas”, focused on a range of economic concepts; from Markowitz’s paper on “Portfolio Selection” to Sharpe’s paper on capital asset pricing, Black and Scholes’ paper on option valuation and the work of the two most recent Nobel laureates, Fama and Schiller.
“There is no other area among the social sciences where concepts that began as esoteric academic ideas have been translated into workable, practical ideas than in financial economics. Concepts like Securitization, Option Valuation, etc. have profoundly affected the modern practice of financial management in addition to creating entirely new lines of business from mutual funds and hedge funds to private equity and all kinds of arbitrage strategy funds.”, said keynote speaker Prof. Sudhakar Raju during his keynote speech. Prof. Raju, holds a primary appointment as the Miller Chair in Finance at the Helzberg School of Management, Rockhurst University (USA) and a secondary appointment at the Kennedy School of Government at Harvard University (USA).
The seminar focused on the contribution of theoretical and academic Nobel Prize concepts to the real world practice.