Nobel-Winning Economist Myron Scholes to Speak at Kent StatePosted Oct, 6, 2009
Myron Scholes, chairman of Platinum Grove Asset Management, Nobel laureate and professor emeritus at Stanford University, will speak at Kent State University on Oct. 27 as part of the university's Charles J. Pilliod Lecture Series. Scholes is co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology used to value and manage the risk of options contained in instruments around the world.
Scholes will present "Lessons in Risk Management" at 5:30 p.m. in the Kent Student Center Ballroom on the Kent Campus. Scholes will discuss how much and what types of flexibility should be built into operating and financing policies and their crucial impact on reported returns and risk. He also will speak about the importance of option theory in risk management frameworks and its role as the economy moves forward.
At Platinum Grove Asset Management, Scholes manages an alternative investment fund specializing in risk transfer and liquidity-provision services to the global wholesale capital markets. He is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford University Graduate School of Business since 1996.
Scholes is widely known for this seminal work in options pricing, capital markets, tax policies and the financial services industry. He has been published in many academic journals. In 1997, he was awarded the Alfred Nobel Memorial Prize in Economic Sciences for his work in developing the Black-Scholes model.
"Professor Myron Scholes has consulted with many financial institutions, corporations and exchanges around the world, and Kent State is very fortunate to have secured him as our speaker this fall," said Rosalind Thompson, Goodyear Executive Professor at Kent State's College of Business Administration. "Attendees can learn a myriad of lessons from Professor Scholes about risk management and the future directions of risk management for financial entities, banks and corporations as a result of the recent financial crisis."
The Pilliod Lecture Series has continuously been presented since 1983, bringing distinguished business speakers to Kent State twice each academic year. The objective of the lecture series is to address topics of interest and importance to both the academic and business communities. It is named in recognition of Charles J. Pilliod, the retired chairman of the board and chief executive officer of The Goodyear Tire & Rubber Company. During Pilliod's 42-year tenure at Goodyear, he was instrumental in the 1973 creation of the Goodyear Executive Professorship at Kent State's College of Business Administration.
The Oct. 27 event is free and open to the public. A reception will follow the presentation at 6:30 p.m. in Kent Student Center in Room 306. For additional information, call 330-672-1227 or visit www.business.kent.edu/goodyear.
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