External links
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| Abbreviation | AFA |
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| Formation | 1939 |
President | Markus Brunnermeier [1] |
| Website | www |
The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the Journal of Finance , was first published in 1946.
The purpose of the association is to:
As of 2022, the association has over 12,000 members.[ citation needed ] A variety of membership options exist and membership is open to anyone.
A number of members are also distinguished in the Society of Fellows of the Association. These are members who have made significant contributions to the field of finance.
The administration of the association is overseen by both officers and a board of directors. All of these positions are held by faculty at various universities. The board of directors rotates over time and assists in key decisions and policies.
The Journal of Finance is an academic journal that covers the whole field of finance. It began publication in 1946. According to Journal Citation Reports , it has a 2015 impact factor of 5.290. The current editor is Antoinette Schoar. The Journal of Finance, The Review of Financial Studies , and the Journal of Financial Economics are considered to be the top-three finance journals. [2] [3] [4] [5] [6]
An annual meeting of the association is held every year in January, in conjunction with the American Economic Association and the North American Winter Meetings of the Econometric Society as a part of the Allied Social Science Associations. The president speaks on a selected topic and there are presentations of various financial papers. The AFA, Western Finance Association Meetings, and Society for Financial Studies Cavalcade are considered to be the three top general finance conferences in the world. [7]
Recent Annual Meeting AFA sites:
In January 2000, the Board of Directors of the American Finance Association instituted a Society of Fellows of the Association. The purpose of the society is to recognize those members who have made a distinguished contribution to the field of finance. Since Fellows are selected by the membership for their contributions to the field of finance, and since this is the principal criterion for election as president, all living past presidents and all future presidents of the association are designated as Fellows. The list of AFA Fellows [10] contains all past presidents and the Fellows selected since that date. Each year, the Nominating Committee, chaired by the current president, solicits names from the membership and nominates a slate of no more than five candidates from which current Fellows elect a maximum of two new Fellows. Polling of the current Fellows is carried out by the immediate past-president prior to the next annual meeting.
Biennially, the association awards the Fischer Black Prize at its annual meeting. The award, named in honor of economist Fischer Black, recognizes an outstanding young academic whose original research has made a significant contribution to the field of finance.
Annually, the Brattle Prizes are awarded annually for outstanding papers on corporate finance at its annual meeting.
Annually, the association awards the Dimensional Fund Advisors Prizes [11] (prizes prior to 2019 were sponsored by Amundi Pioneer, Amundi Smith Breeden, and Smith Breeden) for the top three papers in the Journal of Finance in any area other than corporate finance at its annual meeting.
The Morgan Stanley-American Finance Association Award for Excellence in Finance [12] was a bi-annual finance award granted based on an individual's career achievements in outstanding thought leadership in the field of financial economics. The Award began in 2008 and continued for 5 bi-annual periods.
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Robert Cox Merton is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes–Merton model. In 1997 Merton together with Myron Scholes were awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for the method to determine the value of derivatives.
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The International Association for Quantitative Finance (IAQF), formerly the International Association of Financial Engineers (IAFE), is a non-profit professional society concerned with the fields of quantitative finance and financial engineering. The IAQF hosts several panel discussions throughout the year to discuss the issues that affect the industry from both academic and professional angles. Since it was established in 1992, the IAQF has expanded its reach to host events in San Francisco, Toronto, Boston, and London.
The Journal of Financial Economics is a peer-reviewed academic journal published by Elsevier, covering the field of finance. It is considered to be one of the premier finance journals. According to the Journal Citation Reports, the journal has a 2020 impact factor of 6.988. The journal was founded by Michael C. Jensen, Eugene Fama, and Robert C. Merton in 1974.
Society for Industrial and Applied Mathematics (SIAM) is a professional society dedicated to applied mathematics, computational science, and data science through research, publications, and community. SIAM is the world's largest scientific society devoted to applied mathematics, and roughly two-thirds of its membership resides within the United States. Founded in 1951, the organization began holding annual national meetings in 1954, and now hosts conferences, publishes books and scholarly journals, and engages in advocacy in issues of interest to its membership. Members include engineers, scientists, and mathematicians, both those employed in academia and those working in industry. The society supports educational institutions promoting applied mathematics.
The Journal of Finance is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Antoinette Schoar. According to the Journal Citation Reports, the journal has a 2021 impact factor of 7.870, ranking it 6th out of 111 journals in the category "Business, Finance" and 16th out of 381 journals in the category "Economics".
The Review of Financial Studies is a peer-reviewed academic journal covering the field of finance. It is published by Oxford University Press on behalf of the Society for Financial Studies. It was established following discussions at the 1986 Western Finance Association meetings, and the first issue was published in 1988. The current editor-in-chief is Itay Goldstein. It is considered to be one of the premier finance journals. According to the Journal Citation Reports, the journal has a 2020 impact factor of 5.814, ranking it 5/110 in the category "BUSINESS, FINANCE".
Bendheim Center for Finance (BCF) is an interdisciplinary center at Princeton University. It was established in 1997 at the initiative of Ben Bernanke and is dedicated to research and education in the area of money and finance, in lieu of there not being a full professional business school at Princeton.
Sugato Chakravarty is a visiting professor of management at Purdue University. He serves as Associate Editor of the Journal of Financial Markets.
Fischer Black Prize is a memorial prize awarded in honor of Fischer Black that rewards individual financial research. The prize was established in 2002 and first awarded in 2003. It is awarded to a financial scientist for a body of work that demonstrates significant original research that is relevant to finance practice. Eligible scholars must either be below 40 years in age, or under age 45 but not have been awarded a Ph.D. by age 35. The prize is awarded biennially at the American Finance Association's Annual Meeting. This award to honor a leading young finance scholar is analogous to the John Bates Clark Medal in economics and the Fields Medal in mathematics.
Sheridan Dean Titman is a professor of finance at the University of Texas at Austin, where he holds the McAllister Centennial Chair in Financial Services at the McCombs School of Business. He received a B.S. degree (1975) from the University of Colorado and an M.S. (1978) and Ph.D. (1981) from Carnegie Mellon University.
Tobias Jacob "Toby" Moskowitz is an American financial economist and a professor at the Yale School of Management. He was the winner of the 2007 American Finance Association (AFA) Fischer Black Prize, awarded to a leading finance scholar under the age of 40.
Randolph Baer Cohen is an American financial economist and MBA Class of 1975 Senior Lecturer of Entrepreneurial Management at Harvard Business School.
Markus Konrad Brunnermeier is an economist, who is the Edwards S. Sanford Professor of Economics at Princeton University.
Campbell Russell "Cam" Harvey is a Canadian economist, known for his work on asset allocation with changing risk and risk premiums and the problem of separating luck from skill in investment management. He is currently the J. Paul Sticht Professor of International Business at Duke University's Fuqua School of Business in Durham, North Carolina, as well as a research associate with the National Bureau of Economic Research in Cambridge, Massachusetts. He is also a research associate with the Institute of International Integration Studies at Trinity College Dublin and a visiting researcher at the University of Oxford. He served as the 2016 president of the American Finance Association.
Avanidhar Subrahmanyam is a professor and named chair at the University of California Los Angeles. He is an expert in stock market activity and behavioral finance, and has published a number of papers on financial markets.
Yuliy Sannikov is a Ukrainian economist known for his contributions to mathematical economics, game theory, and corporate finance.
The Society for Financial Studies (SFS) is a nonprofit, academic society in the field of finance. It owns and runs three academic journals: (1) the Review of Financial Studies, (2) the Review of Asset Pricing Studies, and (3) the Review of Corporate Finance Studies. It organizes the SFS Cavalcade North America and the SFS Cavalcade Asia-Pacific, which are annual academic conferences. It financially supports and co-sponsors many independent finance academic conferences. Its governing board is the SFS Council.
Paola Sapienza is an American and Italian economist. She is a member of the Kellogg School of Management faculty at Northwestern University. She is also a research associate at the NBER and CEPR. Her fields of interest include financial economics, cultural economics, and political economy.
Ravi Bansal is an economist and an academic. He is J.B. Fuqua Professor at the Fuqua School of Business at Duke University and Research Associate at the National Bureau of Economic Research. He is most known for his research work in the fields of financial economics and macroeconomics.
