Name:  Szyszka

Surname: Adam

Position: Associate Professor

Department: Management, Chair of Investment and Capital Markets

Email: adam.szyszka@ue.poznan.pl

Office phone: 61 854 3828

Poznan University of Economics (2001) – habilitation “Asset Pricing in Capital Markets in the lieu of behavioral finance”

Adelaide University, Australia (2005) – Visiting Professor, lecturing Corporate Finance course on Master level and engaging in common research project in the area of behavioral finance with one of permanent faculty members

Columbia University, New York (2002/2003) – Post-Doctoral Visiting Scholar, research project in the area of Asset Pricing and Behavioral Finance

Harvard Business School (2002) – participated in the Colloquium on Participant-Centered Learning (CPCL) – a special program preparing academics to teach with the use of Harvard case study method

Poznan University of Economics (2001) – Ph.D. in Economics, Doctoral dissertation has received excellent reviews and has been nominated to the Award of Polish Minister of Education for the outstanding merit. The thesis deals with a comparison of efficiency between an emerging market (Warsaw Stock Exchange) and selected well-developed mature markets (specifically NYSE, LSE, and AMEX). Particular attention is given to information impact on stock prices and risk-return relationship in the context of various market anomalies. Academic mentor: Professor Waldemar Frąckowiak (Harvard Business School Alumni)

Columbia University, New York (2000/2001) - Fulbright Scholar, Ph.D. courses at Columbia Business School and Economics Department. Concurrently working on own research project in the area of Capital Market Efficiency

Poznan University of Economics (1999) – Master of Economics, Specialization: Capital Investment and Financial Strategies. Master thesis related to working capital analysis:
a comparison of this aspect in Polish and British publicly listed companies.

University of Liverpool in the U.K. (1997/98) – one-year abroad program at the Department of Economics and Accounting. Special interest in Corporate Finance, as well as in Capital Markets and Financial Economics.

Capital Markets:

• Market efficiency & asset pricing
• Behavioral finance and psychology of investor
• Anomalies in capital market
• Investment strategies and portfolio analysis
• Mutual funds, pension funds and other professional investors
• Regulations and institutions of capital market
• Globalization of capital markets and integration of stock exchanges

Corporate Finance:

• Financial analysis
• Cost optimalization
• Policy of optimal capital structure
• Working capital management
• Dealing with companies in financial distress
• Business appraisals

Investment Banking:

• Mergers & Acquisitions
• Leverage Buy-Outs
• Organization of financing consortium for transactions
• Preparation of informational memorandum and introducing new investors to a company
• Assistance during the IPO process
• Valuation

JEL CLASSIFICATION: G1, G2, G3

Books

• Belief and Preference Based Models, in H. Kent Baker and John Nofsinger (eds.) Behavioral Finance. Hoboken, NJ: John Wiley & Sons, Inc., forthcoming 2010
• Behavioral finance. A new approach to investing on capital markets, Poznań University Press, 2009
• Asset pricing in capital markets in the lieu of behavioral finance, Poznań University Press, 2007
• Long-term capital policy in corporate value creation, Poznań University Press,, 2005
• Efficiency of the Warsaw Stock Exchange in Comparison to Mature World Markets, Poznań University Press, 2003
• From the Research on Capital Market in Poland, (co-author), Poznań University Press, 2002

Academic Papers

• Behavioral aspects of the financial crisis, BANK I KREDYT 2009 nr 4, Warszawa: National Bank of Poland (NBP), s. 5-29
• Generalized Behavioral Asset Pricing Model, IFCAI Journal of Behavioral Finance, Vol. VI, No. 1 - Hyderabad : ICFAI University Press, 2009. s. 7-25
• Sources and consequences of limits to arbitrage (co-author: Zaremba A.), Finance management. Corporate valuation and value managment - Szczecin : Wydział Nauk Ekonomicznych i Zarządzania Uniwersytetu Szczecińskiego, 2009. s. 243-254
• From the Efficient Market Hypothesis to Behavioral Finance. How Investors’ Psychology Changes the Vision of Financial Markets, The Reader. Special Edition: Business and Finance 2008
• The Disposition Effect Demonstrated on Aggregated Market Level, Icfai Journal of Behavioral Finance, India, 2007
• The Disposition Effect Demonstrated on IPO Trading Volume, 14th Annual Global Finance Conference GFC2007 - Melbourne : Global Finance Association / La Trobe University Australia, 2007
• Herding behavior and informational efficiency of capital market, Ekonomista 1/2007, Polish Academy of Science (PAN)
• Ethical Factors In Capital Market. Socially Responsible Versus Unscrupulous Investment, (co-author with Akbar Zamin Ali), ARGUMENTA OECONOMICA, 1/2007
• Profitability of momentum strategies on the Warsaw Stock Exchange, BANK I KREDYT 8 / 2006 – National Bank of Poland (NBP).
  

• Grant from the Polish Ministry of Science for the research program Managerial Behavioral Finance (2010)
• The Poznan University of Economics Rector’s Award for participation in development the Strategy of Poznań Univeristy of Economics (2009)
• The Poznan University of Economics Rector’s Award for outstanding merit of the book A Behavioral Approach to Asset Pricing (2009)
• Best Paper Award at the16th Global Finance Conference, Honolulu, USA (2009)
• Best Paper Award at the IBS International Conference on Business and Finance, Hyderabad, India (2009)
• The Poznan University of Economics Rector’s Award for outstanding merit of the book Long-term capital policy in corporate value creation (2007)
• Prize for Young Scientists by the Foundation for Polish Science (2004 and 2005)
• Kosciuszko Foundation Post-Doctoral Visiting Scholar at Columbia University in New York (2002/2003)
• Fulbright Doctoral Scholar at Columbia University in New York (2000/2001)
• The Poznan University of Economic Rector’s Award of First Degree for outstanding merit of doctoral thesis, 2002
• The Poznan University of Economics Rector’s Award of First Degree for outstanding merit of the book From the Research on Capital Market in Poland (co-author), 2002
• Nominated to Josseph de la Vega Prize 2002 of Federation of European Securities Exchanges (FESE)
  

• Member of the Board of The Polish Association of Business Appraisals
• Member of Business Center Club
• Member of European Finance Association
• Member of Global Finance Association
• Member of Academic Association for Economic Psychology
• Member of Rotary International, Past-President (2006/07) of Rotary Club Poznan-Starowka
• Honorary Member of Poznan Rotaract Club and Rotaract at the United Nations
• Member of Young Polish International Network
  

• Introduction to capital markets (B.A. course)
• Instruments and institutions of capital markets (Master course)
• Behavioral finance (Master course)
• Master seminar in Polish
• Ph.D. seminar in Polish