sfeerbeeld

COERC paper wins Garp Risk Management Research Award

AIF  Program Advisor Theo Vermaelen recently won the GARP Risk Management Research Award with his paper on COERC's (Call Option Enhanced Reverse Convertible). A bond that "coerces" equity holders to pay back bondholders in case of financial distress.

The GARP Risk Management Research Award is an annual award for the outstanding paper in the field of financial risk management presented at the European Financial Management Association (EFMA) Annual Meeting. The Award recognizes the paper that has the most potential to advance our understanding of financial risk management through innovative approaches for solving complex risk-related problems in financial markets as well as opening new areas of inquiry about fundamental risk-related issues.

The paper, jointly written with Christian Wolff, was also nominated for two other awards - Best Conference Paper and Best Paper in Corporate Finance. There were 246 papers presented at the conference.

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