Overview

Over the last decade, there has been an explosive growth in the use of financial tools and instruments, as both financial and non-financial corporations around the world have become more sophisticated in evaluating opportunities and managing the risks that inevitably accompany these opportunities. Forward contracts, swaps, options and an array of other sophisticated products have been added to the more traditional elements of the world capital markets. At the same time, participation in the capital markets by individual investors has taken on a magnitude and form that would have been unimaginable a decade ago. Unfortunately, this increased complexity has not always been met by increased understanding on the part of the investors.

To remain on the leading edge of business education, Sauder School of Business must be at the forefront of financial research. The Phillips, Hager & North Centre for Financial Research was established as the umbrella of Finance Division activity and coordinates the Division's research and educational activities around four broad themes that cut across industry segments:

• Understanding and managing financial risks
• Understanding and evaluating the financial policies of corporations
• Understanding and evaluating financial regulation
• Understanding the determinants of financial values

Within these four areas, the Centre will pursue research designed to produce substantive insights into critical industry challenges--insights that help to strengthen institutional performance.

The Centre will build upon this research foundation and the strong industry-faculty interactions that currently exist to enhance the educational experience of our students. Research papers, breakfast briefings, internships, and course development will all be supported through the activities of the Centre. In addition, research will be brought to bear on issues that are of more immediate and practical importance through conferences and applied research projects.

The Centre is guided by its director, Professor Ron Giammarino and an Advisory Board constituted by leading practitioners in finance and the financial markets.

Established in 2001, funding for the Phillips, Hager & North Centre for Financial Research was provided by Phillips, Hager & North Investment Management Ltd. and its shareholders and matched by the University of British Columbia. This financial support is gratefully acknowledged.