NCCR FINRISK - The Swiss Research Network in Finance

In November 2001, the Swiss National Science Foundation (SNSF) launched the National Centre of Competence in Research "Financial Valuation and Risk Management" (FINRISK). Directed by Prof. Rajna Gibson from the University of Zurich, FINRISK constitutes a Swiss research network in finance, integrating more than 30 professors from various academic institutions within Switzerland, i.e. the University of Zurich ("leading house"), ETH Zurich, EPF Lausanne as well as the Universities of Geneva, Lausanne, Lugano and St. Gallen.

The main goal of FINRISK is to promote competitive fundamental and applied research in finance and related fields. In particular, the FINRISK research program places strong emphasis on the analysis and management of the financial and non-financial risk factors that affect the wealth creation and redistribution processes. It also integrates the regulatory, the micro as well as the macroeconomic dimensions of value creation and risk management. FINRISK encourages multi-disciplinary research and networking among academics in order to build its research philosophy. Moreover, FINRISK promotes knowledge transfer in order to disseminate its research to the private and the public sectors. Finally, FINRISK intends to improve the quality of doctoral education in finance in Switzerland. For this purpose, it fully supports the Swiss Finance Institute efforts to establish an internationally recognized PhD program in finance.

FINRISK has been endowed with an annual budget of SFr 3,7 Mio, financed primarily by the SNSF (2,5 Mio.), the University of Zurich (0,8 Mio) and Swiss Finance Institute (0,3 Mio). The research projects are entitled to 75 % of the total budget. The remaining budget is allocated to support knowledge transfer activities (5 %), to promote doctoral education (10 %) and to management costs (10 %).

Finrisk has signed a cooperation agreement with the Swiss Finance Institute concerning the management and coordination of fundamental research, doctoral education and knowledge transfer activities. The cooperation is motivated by the desire to enhance efficiency and coordination among Switzerland's pool of talent and expertise in academic finance. The agreement confirms Finrisk's position as an academic partner of choice in finance research.

The Swiss Finance Institute is a private foundation created in 2005 by the banking and the finance community of Switzerland together with several Swiss universities. The institute aims to advance research activity in finance and to support doctoral research and executive education in the banking and finance industry as well as organising interfacing activities between research and the industry.

• to foster fundamental and applied research in finance
• to stimulate knowledge transfer between academics and practitioners
• to create a first-class Swiss Doctoral Program in Finance

• Establishment of ten individual research projects at the network Universities

• Intensification of various co-operations with internationally renowned Professors from leading Universities in Europe and in North America

• Organization of activities in collaboration with partners from the financial services industry: applied research projects, conferences and high level courses for academics and practitioners

• Creation of the Swiss Doctoral Network in Finance, including over 100 doctoral students from affiliated Universities
• Harmonization of the existing doctoral programs in Finance within Switzerland