Cass Business School Doctoral Student Wins IMCA’s Third Annual Academic Paper Competition

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Cheng Yan is the winner of the third annual Journal of Investment Consulting Academic Paper Competition

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The dynamics between international equity and currency markets are often misunderstood. Mr. Yan’s paper offers important findings and new insights that provide clarity about how these forces impact foreign markets.

Investment Management Consultants Association® (IMCA®) announced today that Cheng Yan is the winner of the third annual Journal of Investment Consulting Academic Paper Competition for his paper “Foreign Investors in Emerging Equity Markets: Currency Effect Perspective.” Yan is a doctoral student at the Cass Business School, City University London, and the first student to win the prestigious award, which is accompanied by a $5,000 prize. His work will be published in the spring 2015 issue of the Journal of Investment Consulting.

The paper takes a foreign-exchange perspective to investigate the daily trading behavior and price impact of foreign investors in six Asian emerging equity markets over the past two decades. It examines the unsolved interrelationship between the capital flows and stock returns and explores a possible role of exchange rate in the process during which foreign investment affects local equity markets.

“The dynamics between international equity and currency markets are often misunderstood,” said Margaret M. Towle, PhD, CIMA®, CPWA®, Journal of Investment Consulting editor-in-chief. “Mr. Yan’s paper offers important findings and new insights that provide clarity about how these forces impact foreign markets.”

The competition called for papers on topics that examine recent research relevant to investment consulting and private wealth management, and provide a development of theory and applied research on the chosen topic. Papers are invited from academics and doctoral students, with special encouragement to nontenured faculty. The Journal of Investment Consulting editorial advisory board selected the winning paper based on quality and relevancy of the research to investment management consultants and investment advisors.

Click here for more information about the Journal of Investment Consulting and the academic paper competition.

Established in 1985, IMCA is a nonprofit professional association and credentialing organization with more than 10,000 individual members and certificants in the United States and Canada, including 400 international affiliate members. IMCA members collectively manage more than $2.477 trillion, providing investment consulting and wealth management services to individual and institutional clients. Since 1988, IMCA has offered the Certified Investment Management Analyst® (CIMA®) certification, which earned accreditation by the American National Standards Institute (ANSI) in April 2011, making it the first financial services credential in the United States to meet international standards (ISO 17024) for personnel certification. IMCA’s Certified Private Wealth Advisor® (CPWA®) certification is suited for wealth management professionals working with high-net-worth clients. In 2014, IMCA conferences and workshops hosted nearly 4,000 attendees.

IMCA® and Investment Management Consultants Association® are registered trademarks of Investment Management Consultants Association Inc. CIMA®, Certified Investment Management Analyst®, CIMC®, CPWA®, and Certified Private Wealth Advisor® are registered certification marks of Investment Management Consultants Association Inc. Investment Management Consultants Association Inc. does not discriminate in educational opportunities or practices on the basis of race, color, religion, gender, national origin, age, disability, or any other characteristic protected by law.

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Ryan Hoffman
Investment Management Consultants Association
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