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Center for Research and Innovation in Finance

The Center for Research and Innovation in Finance (CIIFI) focuses its research activities on topics of applied finance, with an emphasis on topics of national and regional interest. CIIFI will be in charge of implementing, developing, executing and consolidating research projects in the Financial area. Its main objective is financial innovation and the strengthening of financial markets, financial institutions and business finance.

Consistent with its technical orientation, CIIFI privileges the use of statistical and mathematical quantitative methods, econometric, financial and accounting models, as analytical instruments of applied financial research.

Creation date

August 2004, Rectoral Resolution No UPB-RR-012/2004

Research areas

1) Financial Intermediation Program: studies will be carried out on: i) Comprehensive Risk Management, ii) Regulation of the Financial System, iii) Financial Institutions, iv) Competition and Structure of the Financial Market, v) Micro finance.

2) Stock Market Program: work will be carried out on i) Market Efficiency and its Anomalies, ii) Behavioral Finance, iii) Valuation of Financial Instruments, iv) Fundamental Analysis, v) Portfolio Management and Performance Evaluation, vi ) Technical Analysis and Trading Strategies, vii) Stock Market.

3) Financial Products Program: focused on Financial Innovation through i) Design of Financial Products and Instruments, ii) Design of Financial Derivatives, iii) Structuring of Investment Funds, iv) Design of Insurance, v) Financial Mathematics and Actuarial Mathematics, vi) Information Technologies and Financial Innovation.

4) Business Finance Program: aimed at generating research to strengthen the business sector with studies focused on Micro, Small and Medium Enterprises on i) Capital Structure and Dividend Policy, ii) Cost of Capital, iv) Financial Analysis and Financial Planning, vi) Evaluation and development of new ventures, vii) Evaluation of Investment Projects, viii) Analysis and Design of financing mechanisms, ix) Sector Studies, x) International Financial Reporting Standards.