IFRC

Vietnam

• VNX Women CEO Indexes have been launched in 2013 succesfully. They are the second indexes, besides S&P 500, in the world:
• VNX Women CEO index serves as benchmark and covers all eligible companies; and
• VNX Top 10 Women CEO and VNX Top 25 Women CEO Indexes are Tradable with the largest capitalisation, liquid stocks. These indexes are specially designed to decrease the fund management costs as possible.

Other locations

• Vietnam is where we took our first step of a broader scheme with the great successful launch of the Vietnam Women CEO Indexes Series in early 2013 (www.vnxindex.com) and then presented to World Bank Forum in Hanoi in 2013.
• Our next step is to create Regional Women CEO Indexes for Southeast Asian and Asian Nations in preparations for the Annual Conference organized by Women Corporate Directors in Singapore in September 2014.
• We and our partners are now making researches and indexes for Eurozone and European Markets that will be launched in Q3 2014.
• We are also willing to support and foster empirical researches in Vietnam by implementation of VIETNAM Economics & Financial Research Center (www.vnefrc.com), an academic cooperative project, that centralises in a single point of access to different sources and types of data and documentation useful for research in Finance.

These two approaches are carried out in parallel, and progressively in the different geographical areas with partners and supports:

• Information providers as Stoxplus and newspapers as the Saigon Times in Vietnam;
• Vietnamese (University of Economics and Law, VCREME) and foreign (ICN, SKEMA and Paris Dauphine, France) researchers, research centers, business schools, and universities;
• Women Corporate Directors (WCD); and
• Especially, Mrs Ton Nu Thi Ninh (Tri Viet Center for Social and Education Studies), Former Ambassador of Vietnam to the EU and Belgium.

16 - 17 June, 2016. New York Marriott Marquis, New York, NY

Women now head some of the largest corporations in the US, yet women still lag men in advancement, compensation, and leadership.  Indeed, the numbers and percentage of women at the highest corporate levels and board positions have remained constant.  Women still face challenges in moving to senior positions in corporations. 

At The Conference Board's 12th Annual Women’s Leadership Conference, learn how women can move effectively to and through the executive levels of their organizations, seeking practical guidance from successful leaders.

May 11-12, 2016. New York City

The 2016 Forbes Women’s Summit will explore how and why significance has become the new success—how leaders today, across industries and generations, are redefining pathways to power to deepen their impact and drive meaningful change in their businesses, in their personal lives and within the communities around them.

Lundi 7 mars - 18 h 45, dans les locaux du NUMA 39, rue du Caire Paris 2e arrondissement

Michel Ferrary, professeur de Management à SKEMA Business School et fondateur de l'Observatoire de la féminisation des entreprises, présentera en exclusivité les résultats 2016 de l'analyse de la féminisation de la direction et du management des 60 plus grandes entreprises françaises. Pour le 10e anniversaire de l'Observatoire, le prix Féminisation & Performance Durable sera remis à l'entreprise du CAC40 et next 20 qui a le mieux combiné égalité professionnelle et performances boursières sur ces dix ans.

6 - 7 November 2015, dbb forum, Berlin, Germany

Europe is leading the world in the effort to make science more aware of and responsive to the consequences of gender inequality and gender bias in science practice and knowledge. The Summit will advance understanding of when, how and why gender issues in research can produce different outcomes for women and men, and, like its predecessors, it will demonstrate important intellectual, societal and economic benefits of gender mainstreaming. The Summit takes place in Berlin and precedes the Falling Walls celebration as a reminder that gender inequality is a ‘wall’ that also must fall. GS7-Europe will demonstrate how to apply the gender lens to improve effectiveness of research and innovation, and how to transform policy context through strategic, high-level policy alliances to enable lasting change to take place

This year’s theme is “The New Connected Leadership”, and the agenda will feature one-on one interviews, panel discussions, interactive breakout sessions and high level networking with your peers.

What started as a list 16 years ago has evolved into the world’s most extraordinary leadership community, convening the preeminent women in business along with selected leaders in government, philanthropy, education, and the arts for wide ranging and inspiring discussions.

At the 2013 Fortune Most Powerful Women Summit (clockwise from top right): Clinton Foundation Vice Chair  Chelsea Clintonin, IMF Managing Director  Christine Lagarde, Facebook COO  Sheryl Sandberg, Yahoo CEO  Marissa Mayer,  Xerox CEO  Ursula Burns, Actress Glenn Close with Berkshire Hathaway CEO  Warren Buffett .

September 3rd and 4th, 2014 held at the Ritz-Carlton Millenia Hotel

WCD's 2014 Asia Institute will be a historic gathering of more than 100 women directors from all over Asia and around the world. This distinguished conference will consist of a reception and dinner on the 3rd and a conference on the 4th, followed by a reception. This will be a high-powered idea forum exploring compelling issues on the minds of today’s Asian directors. The program will frame critical topics, discuss innovative ideas, and help directors to reach constructive solutions. This forum will consist of keynotes, Conversations with CEOs of global companies, panels, roundtable discussion groups, and synergistic engagement in a community of trust that brings a diversity of perspectives together.

ANNUAL WOMEN'S CONFERENCE

Hosted by Ladies America, Saturday June 14th, 2014

Ladies America will host the "Women Leading the Future" day-long women’s conference. This conference brings some of the most dynamic women in America together to discuss major issues and topics that are important to women today. Focusing on women making a difference in the world, discussions will deal with where women are today and how they can become stronger, more effective leaders and why their leadership is critical as we head into the future.

May 14th-15th: Global Institute at JPMorgan, One Chase Manhattan Plaza with a Get Acquainted Dinner for all Attendees on the Evening of May 13th

May 14th: 2014 Visionary Awards Gala Dinner at the Marriott Marquis, Times Square

May 13th: NEW! Two Optional Programs: Chairs and Lead Directors Roundtable and a New Directors Program

WCD's 2014 Global Institute will be a historic gathering of more than 275 women directors from around the world. This distinguished conference will consist of a two-day, high-powered idea forum exploring compelling issues on the minds of today’s global directors. The program will frame critical topics, discuss innovative ideas, and help directors to reach constructive solutions. This forum will consist of keynotes, conversations with CEOs of global companies, panels, roundtable discussion groups, the Visionary Awards dinner, receptions, and synergistic engagement in a community of trust that brings a diversity of perspectives together.

Power does not come in a one-size-fits-all package, and at ForbesWoman we are redefining what power means. Traditionally, power has been defined as the ability to effect change, but to be truly powerful today, one has to possess an entrepreneurial mindset, spirit, and approach.

Whether it’s leading a multinational firm focused on innovation, launching a startup solving a decades-old challenge, or spearheading a social movement that will improve the lives of millions, it’s all entrepreneurship. It defines every aspect of our lives. Hosted by Moira Forbes, this multi-generational gathering of influencers will forge partnerships, find solutions and take actions to make the world a better place.

Entrepreneurs don’t just come up with ideas. They make things happen. 

The WOMEN CEO project is the first step of a larger project on the relationship between performance and governance. We are doing in parallel other topics such as women on board, capital held by the state, or foreign investors, or family ownership. Starting from Vietnam, we extend this project to global listed companies.

This report compares companies run by woman CEO in ASEAN countries (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam), and other companies in term of number, market capitalisation and stock performance following different group levels: country, sector, and size.

We calculate WOMEN CEO Equal Weighted indexes for countries having at least 10 companies led by woman (Malaysia, Philippines, Singapore, Thailand and Vietnam. and the WOMEN CEO ASEAN index comprising all companies. These indexes start at 1,000 at December 31, 2008.

Conclusion

Our first results clearly show that the companies grouped by country, sector, or size have a superior return compared to their national index or ASEAN area benchmark index. They overperform about 15% per year from 2009.

The WOMEN CEO ASEAN Indexes Series will be extended to the capitalisation weighting, and the tradable WOMEN CEO ASEAN 40 ndex. This index could be an investment opportunity for financial products. Their figures and other information will be updated on the www.globalwomenceo.com website.

Next steps

With our academic partners, VCREME, ICN, EDC and SKEMA Business Schools (France) and University of Economics and Laws (Vietnam), we are trying to explain why WOMEN CEO companies outperform by controling other corporate performance measures (fundamental ratios for example), and factors such as gender, and CEO profil (experience, education, compensation, ...).

In the second step, we will study the Executives Board of each company, and calculate the presence ratio of women. Like women CEO companies study, we will analyse the relation of the firm characteristics, the executive profile and the stock market or corporate performance of the company for about 40,000 companies of 41 countries of our universe.

Alpha is a coefficient that measures the performance, positive or negative, produced by an index relative to what could justify risk. A positive alpha indicates the profitability of the fund or portfolio or index is higher than its market and vice versa.

The estimate of alpha is given by the Ordinary Least Squares in the Capital Asset Pricing Model (CAPM).

Attempting to profit by exploiting price references of identical or similar commodities or financial instruments on different markets or in different forms. Arbitrage opportunities (If they exist) provide riskless profit opportunities.

The ask price or offer price is the price a seller is willing to accept for a security.

A situation where an option's strike price is identical to the price of the underlying security.

B = Buy, or S = Sell

The base date is the reference date for an index. It is the date from which the base value is chosen. The base date could be different to the first date.

For an index, the base value is often arbitrary figure used as the initial value. Generally, it is 100 or 1,000.

A bear call spread contains two calls with the same expiration but different strikes.

The strike price of the short call is below the strike of the long call, which means this strategy will always generate a net cash inflow (net credit) at the outset.

A bear put spread contains two puts with the same expiration but different strikes.

The strike price of the short put is below the strike of the long put. Because of the way the strike prices are selected, this strategy requires a net cash outlay (net debit) at the outset.

This strategy is the combination of a bear call spread and a bear put spread.

This strategy consists of being short one call and long another call with a higher strike; also long one put and short another put with a lower strike

The Women CEO Project is global and the first step of a larger project on the relationship between corporate performance and governances

Other topics will be the presence of women on boards.

This will be achieved using two approaches:

• The first is academic, through empirical researches, publications in financial journals verifying the existence of this relationship, seeking the influence of factors such as the development (frontiers, emerging or developed markets), culture, religion, education… of the countries in question.
• The second is financial by creating a financial portfolio strategy as measured by an index into the final objective to propose investable products as funds or structured products. The index thus constructed will be somehow a continuous measurement of the performance if any. In the second step, if the data are available, we extend this research to private equities.

IFRC is a multi-services company. IFRC’s principal products and services are Financial Services and Products for Capital Markets, Research, Training, Management Consulting and IT services

Customized index, created by our team of index professionals, in our flagship product.

We are committed to provide the highest quality services and products throughout the index creation and maintenance process such as: data mining, design, development, dissemination, maintenance, support, education and research.

Special portal of IFRC for Education. IFRC offers some specific courses about Financial, Derivatives Market and Products.

With a team of experienced experts in Finance, particularly in Europe financial market and in Viet Nam financial market, IFRC provides financial courses on demand:   Financial markets and products, Portfolio management, Technical analysis, Hedging, Derivatives financial instrument, Applied mathematical.

IFRC Indexes and Services

International Indexes Observatory provide index specifications and performance figures

IFRC can then help you in promotion and marketing of your indexes. We also have consulting services on issues related to index.

Through our website, you can get huge information about Viet Nam indexes and international indexes as well. Thanks to specialized tools for index, we compare and analyze by yourself the different indexes that interest you.

IFRC France and Vietnam want to contribute to the empirical research in Finance in Vietnam

Our company has already initiated several projects related to research: Global Women CEO, VIETNAM Economics & Financial Research Center (VNEFRC), VIETNAM Derivatives Market Initiatives (VNDMI).

Intelligent Financial Research & Consulting (IFRC) initiatives to create a Vietnam geographical economic index measuring the economic efficiency of provinces, cities and regions in Vietnam.

This family comprises of 400 representative indices, including Benchmark, Size, Sectors, Blue Chips, Strategy and Theme indexes, calculated in Price and Total return versions and converted into 4 different major currencies: VND, USD, EUR and JPY. They are historically reconstructed since 2008.

They bring to investor:

• A measure coherent with international standards that reflects Vietnam index performance Information with high transparence about how the index family is designed, selected and managed day to day
• Complete index data available for the investors research
• Tradable indexes that can serve as basis for structured products and other index-linked investment vehicles as response to the development of the Vietnam market

IFRC Design & Development of websites

Vietnam Derivatives Market Initiatives (ifrcvdm.com) is an online trading platform which simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives

VNDMI simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives on equities, bonds, or commodities as well as test their trading knowledge and market savvy.

Vietnam Derivatives Market Initiatives (ifrcvdm.com) is an online trading platform which simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives

The information mainly cover Vietnam and Asian regions. Comparative data from other countries and regions are also available.

Empirical research concerning financial markets is currently hindered by several factors, among others the high access costs to financial and stock exchange data and the difficulty to obtain quality data. That is why the VNEFRC works to create verified, controlled and homogeneous databases over long periods, the same way CRSP does with American data, or EUROFIDAI for Europe.

The database covers different areas: economics, commodities, currencies, interest rates, bonds, equities, indexes, mutual funds, ... for vietnamese and international markets. The second mission consists of building a bibliographical database on the research production in finance in universities and research centers, indexing finance theses and working papers, along with links to the original documents.

The third mission is to offer high output computing capabilities, available to researchers who are interested in short term access to high performance and volume computing. With cloud computing technology and servers, the VNEFRC can provide researchers with an on-demand computer cluster for the required short period.

Intelligent Financial Research & Consulting (IFRC) initiatives to create a Vietnam geographical economic index measuring the economic efficiency of provinces, cities and regions in Vietnam.

At the national level, Vietnam is trying to improve its competitiveness and international integration. Within the scope of local, regional leaders (province, city) were also eager to reform and develop policies and strategies for local economic development. The competition is silent, drastic and effective but has not been evaluated completely.

Bloomberg L.P. is financial software, media, and data company. The company provides financial software tools such as analytics and equity trading platform, data services and news to financial companies and organizations around the world.

Included: Historical Daily Prices - Spreadsheet with Closing Prices for Several Indexes Historical Month - end Prices - Spreadsheet with Closing Prices for Several Indexes market Data Express gives users access to more than 16 years of historical options data Daily Volume and Put/Call Ratios.

CBOE has created specialized "Index Sites" to offer concentrated information on particular products or groups of related CBOE products.

Commodity Systems Inc. — EOD Market Data and Trading Software

Commodity Research Bureau (CRB) is the world’s leading commodities and futures research, data, and analysis firm.

Deutsche Börse AG or the Deutsche Börse Group, is a marketplace organizer for the trading of shares and other securities. It is also a transaction services provider. It gives companies and investors access to global capital markets.

Dow Jones publishes the world's most trusted business news and financial information in a variety of media.

EDHEC-RISK Indexes and Benchmarking.

This programme involves three aspects of research into indices and benchmarks in traditional and alternative investment.

The first aspect revisits modern portfolio theory to develop innovative approaches to constructing new forms of indices in the traditional and alternative universes. As such, EDHEC-Risk has proposed a proprietary method of style index construction for the alternative universe and launched the first composite hedge fund strategy indices in 2003. In 2013, EDHEC-Risk Institute, on the basis of its research results in the area of index and benchmark construction, set up ERI Scientific Beta. ERI Scientific Beta is an original initiative which aims to favour the adoption of the latest advances in smart beta design and implementation by the whole investment industry. The second aspect of this research programme examines the use of index products in the core-satellite approach to investment management.

This programme includes the “ETF and Passive Investment Strategies” research chair, in partnership with Amundi ETF & Indexing, and the “Active Allocation to Smart Factor Indices” research chair, in partnership with Rothschild & Cie. The final research dimension of this programme relates to the appreciation of the governance and transparency of indices. On the basis of its investigations, EDHEC-Risk Institute has contributed significantly to the recent consultations on benchmarks conducted by ESMA, IOSCO and the European Commission.

European Fund and Asset Management Association

EODData is a leading provider of quality historical market data with easy to use download facilities at exceptional prices. Daily updates containing end of day quotes and intraday 1-minute bars can be downloaded automatically each day. Extensive, easy to access and affordable.