NYU Stern
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Contemporary Finance: Key Topics for Senior Executives and Board Members

Date
June 1 - 5, 2015
Location
NYU Campus, Greenwich Village
Cost
$9,000 (Accommodation not included)
Other Dates

“Contemporary Finance: Key Topics for Senior Executives and Board Members” provides an intensive five-day overview of modern Finance at a level that today must be mastered by senior executives and board members of financial and nonfinancial firms. Regulatory and market developments over the past decade have materially raised the bar on the degree of financial expertise demanded of senior managers and board members.

Senior executives tend to have highly variable exposure to finance, usually as part of their formal education or in business functions during their functional career progression. Senior management positions usually require bandwidth that may exceed an individual’s previous exposure to key aspects of management including Finance – a sometimes technically demanding and rapidly changing discipline. Even executives comfortable in Finance can benefit from an intensive overview that brings them to the cutting edge of the field.

Board members are perhaps even more diverse, ranging from corporate CFOs to distinguished leaders in the not-for-profit sector or other walks of life. They nevertheless must exercise duties of care and loyalty in their capacity as directors. They must exercise financial governance and interact regularly with senior Finance and risk management specialists. In the end, they must make high-level decisions based on a core understanding of the issues. An objective of this program is to enable this interaction to occur at a level consistent with what we know about modern Finance.

The goal of this executive program is to combine participants representing these two cohorts with some of the best researchers and teachers of modern finance in an intensive, interesting and constructive dialogue that adds substantial value in a time-efficient format. The agenda includes content delivery by senior faculty research and teaching leaders, case studies, small group interaction and panel discussions with executives from key corporations, securities analysts, the media and institutional investors.

Program Benefits:

  • Acquire and/or update skills in modern financial diagnostics and their application
  • Understand current dynamics of global financial markets and their strategic impact
  • Discuss current issues in financial accounting in the global competitive environment
  • Appreciate the use and misuse of derivatives in financial markets and corporate finance
  • Gain insight into structured finance and its role in creating and destroying value
  • Learn about the new regulatory environment, and how it is likely to evolve going forward Engage in new thinking and evidence on Finance in corporate restructurings
  • Assess new insights in corporate valuation, failure prediction and the cost of capital
  • Consider integrated approaches to risk control, including operational and reputational risk
  • Link the key aspects of Finance and risk management to corporate governance 

 

Program Faculty

Ingo Walter

Ingo Walter is the Seymour Milstein Professor of Finance, Corporate Governance and Ethics at the Stern School of Business, New York University.

He has been on the faculty at New York University since 1970. From 1971 to 1979 he was Vice Dean for Academic Affairs and subsequently served a number of terms as Chair of International Business and Chair of Finance, as well as Director of the New York University Salomon Center for the Study of Financial Institutions from 1990 to 2003 and Director of the Stern Global Business Institute from 2003 to 2006. He has been Vice Dean of Faculty of the Stern School at NYU since 2008.

Prof. Walter has had visiting academic professorial appointments at the Free University of Berlin, University of Mannheim, University of Zurich, University of Basel, the Institute for Southeast Asian Studies in Singapore, IESE in Spain and various other institutions around the world, including a joint appointment as Professor of International Management at INSEAD in Fontainebleau, France and in Singapore from 1986 to 2005, where and remains a Visiting Professor.

Prof. Walter's principal areas of academic and consulting activity include international finance and banking. He has published papers in most of the key professional journals and is the author, co-author or editor of 26 books, most recently Mergers and Acquisitions in Banking and Finance – What Works, What Fails and Why? (New York: Oxford University Press, 2004), Governing the Modern Corporation (New York: Oxford University Press, 2006) and Regulating Wall Street (New York: John Wiley & Sons, 2011). He has served as a consultant to various corporations, banks, government agencies and international institutions, and has held a number of board memberships.

Ingo Walter received an A.B. degree in Economics summa cum laude in 1992 and an M.S. degree in Business Economics in 1993 from Lehigh University, and a Ph.D. degree in 1966 from New York University.


Edward Altman

Edward I. Altman is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. He is the Director of Research in Credit and Debt Markets at the NYU Salomon Center for the Study of Financial Institutions. Prior to serving in his present position, Professor Altman chaired the Stern School's MBA Program for 12 years. He has been a visiting Professor at the Hautes Etudes Commerciales and Universite de Paris-Dauphine in France, at the Pontificia Catolica Universidade in Rio de Janeiro, at the Australian Graduate School of Management in Sydney, Luigi Bocconi University in Milan and CEMFI in Madrid. Dr. Altman was named to the Max L. Heine endowed professorship at Stern in 1988. Read his full bio


Aswath Damodaran

Aswath Damodaran is professor of finance at NYU Stern School of Business. Professor Damodaran's contributions to the field of finance have been recognized many times over. He has been the recipient of Giblin, Glucksman, and Heyman Fellowships, a David Margolis Teaching Excellence Fellowship, and the Richard L. Rosenthal Award for Innovation in Investment Management and Corporate Finance.

In addition to myriad publications in academic journals, Professor Damodaran is the author of several highly-regarded and widely-used academic texts on Valuation, Corporate Finance, and Investment Management. Read his full bio


Holger Mueller

Holger M. Mueller is the Bank and Financial Analysts Faculty Fellow and Professor of Finance at New York University Leonard N. Stern School of Business. He is also a research associate at NBER, a research fellow at CEPR, and a research associate at ECGi.

Professor Mueller has been with NYU Stern since 2001. He teaches Corporate Finance in the M.B.A., Executive M.B.A., and Ph.D. programs, and received multiple Executive M.B.A. awards for excellence in teaching. His research has been published in many leading journals, including Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and Journal of Economic Theory.

Professor Mueller received his Bachelor in Business Administration and his Doctorate in Economics from the University of St. Gallen in Switzerland, and his Habilitation in Economics from the University of Mannheim in Germany.  Read his full bio.
 


Raghu Sundaram

Rangarajan ("Raghu") Sundaram is the Yamaichi Faculty Fellow and Professor of Finance at New York University's Stern School of Business where he teaches derivatives pricing and risk-management. He was formerly at the University of Rochester from 1988-96. He received his BA in Economics from the University of Madras, India, in 1982; his MBA from the Indian Institute of Management, Ahmedabad, in 1984; and his PhD in Economics from Cornell University in 1988. Read his full bio


Stijn Van Nieuwerburgh

Stijn Van Nieuwerburgh is a Professor of Finance at New York University Stern School of Business. Professor Van Nieuwerburgh’s primary research areas include finance and macroeconomics. His current work focuses on general equilibrium asset pricing and the role of housing in the macro economy. This research studies investors who are constrained in their borrowing by the value of their housing collateral. This collateral mechanism has important implications for risk premia on stocks and bonds. In new work, he focuses on optimal portfolio choice in the presence of information processing constraints. This research explains the apparent lack of diversification in individual and institutional asset portfolios, both domestically, and internationally. Read his full bio
 


David Yermack

David L. Yermack is the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business. Professor Yermack teaches courses in corporate finance, restructuring firms and industries, and law and finance. His primary research areas include boards of directors, executive compensation, executive stock options, and law and finance. Professor Yermack has been published in many journals including Journal of Financial Economics, Journal of Finance, and Journal of Law, Economics, and Organizations. Read his full bio.


Program Participants

 

Who Should Attend?

Senior managers and directors of financial and nonfinancial firms interested in building a command of modern Finance to support their capacity as strategists, leaders and board members shaping their institutions. 

Program Agenda

 

Program Session Details

Day 1

Session 1 

Global Financial Market Dynamics (Ingo Walter)

Session 2

How to Improve Your Capital Structure (Holger Mueller)

Evening 

Networking Reception & Fireside Chat: Jes Staley, Managing Partner, Blue Mountain Capital

Day 2

Session 3

How Leverage Affects Performance in Competitive Markets (Holger Mueller)

Session 4

Use and Misuse of Derivatives in Corporate Finance (Raghu Sundaram)

Day 3

Session 5

Structured Finance (Stijn van Nieuwerburgh)

Session 6 

Corporate Restructuring – Lessons for CFOs (David Yermack)

Evening

Financial Innovation Workshop: Paul Tice, Managing Director, BlackRock

Day 4

Session 7

New Perspectives on Corporate Valuation (Aswath Damodaran)

Session 8

Corporate Bankruptcy Prediction and Reorganization (Edward Altman)

Evening 

The Issue of Sovereign Risk: John Chambers, Managing Director, Standard & Poor’s

Day 5

Session 9

Current Issues in Financial Accounting (TBD)

Session 10a

The Evolving Corporate Governance Framework and the CFO (Roy Smith)

Session 10b

Panel Discussion: Today’s Challenges for CFOs
Roy Smith, Panel Chair
Panelists: Phil Ryan, Brad Hintz, Eduardo Mestre