History of Finance

n 2004, The American Finance Association Board approved a project to record aspects of the History of Finance. Stephen Buser was appointed Historian with the mission to produce video interviews with important contributors to financial economic knowledge. Links to streaming videos of edited versions of interviews with Harry Markowitz, William Sharpe, Paul Samuelson and Robert Merton are posted below. Transcripts of the full texts of … [ Read more ]

The Limits of Financial Globalization

If you have 40 minutes and want to learn a great deal about finance, listen (and/or watch) Rene Stulz’s presidential address. He gave this at the 2005 AFA meetings in Philadelphia.

The basic theme of his speech is globalization. He points out that the world is not yet flat and the “impact of financial globabilization has been limited.” Why? “…because of the ‘twin agency problems’ that … [ Read more ]