Financial Economics

Research in the Financial Economics (FE) programme covers: 

Financial Markets

  • Pricing of Securities and Derivatives
  • Asset Pricing and Business Cycles
  • Microstructure and Regulation of Markets
  • Financial Decision Making
  • International Finance

Corporate Finance

  • Financial Structure, Security Design and and Firms’ Decisions
  • Going Public
  • Corporate Control and Governance


  • Financial Intermediation
  • Bank Supervision and Regulation
  • Banking, Financial Markets, and Economic Activity

The Financial Economics Programme is directed by Franklin Allen (Imperial College, London).

Fellows and Affiliates in the FE Programme meet annually at the European Summer Symposium in Financial Markets (ESSFM). Hosted since 1991 by the Studienzentrum Gerzensee, ESSFM includes daily seminars in which participants present their work, as well as less formal seminars scheduled at the beginning of the Symposium. A substantial amount of time is reserved for independent work and collaborative research, which provides participants with a unique opportunity to interact and discuss each other's research. In addition, every Symposium features 'focus sessions', each of which concentrates on the latest developments at the research frontier in a specific area of research.

Recent Symposia include:

More information on the Financial Economics Programme: