Global Finance Leaders Convened in Cyprus for the 2025 FMA European Conference hosted by Cyprus University of Technology

The 2025 FMA (Financial Management Association) European Conference was successfully held this month in Limassol, Cyprus, from 11 to 13 June 2025, in partnership with the Cyprus University of Technology drawing more than 200 leading academics, finance professionals, and policymakers from over 30 countries. Hanno Lustig, a leading expert on macroeconomics and financial markets, was the keynote speaker.

Programme Co-Chairs

Elena Kalotychou, Dean of the School of Management and Economics, Cyprus University of Technology

Howard Kung, Associate Professor of Finance, London Business School

Christodoulos Louca, Associate Professor of Finance, Cyprus University of Technology

Constantine Yannelis, Janeway Professor of Financial Economics, University of Cambridge

Over three days, the FMA European Meeting held at the Cyprus University of technology in partnership with Faculty of Management and Economics featured 70 academic sessions, well over 200 presentations, a vibrant Doctoral Student Consortium, and four high-level special panel sessions, covering a range of pressing topics in finance, regulation, technology, and global markets. The conference provided a platform for professional interaction and research exploring key themes and future directions of contemporary finance in an inspiring setting followed by enjoyable social and cultural events around the city of Limassol.

Keynote Address

The keynote address was delivered by Prof. Hanno Lustig, Professor of Finance at Stanford University, an internationally recognized expert in macroeconomics and financial markets. Prof. Lustig's work on exchange rates and the macroeconomic forces shaping global financial systems has earned widespread acclaim and set the stage for the conference’s academic discussions. In addition, Lustig has explored the impact of government guarantees on the pricing of tail risk borne by large financial institutions. He has been awarded the JP Morgan Award for the Best Paper on Financial Institutions and Markets in 2012 as well as the NASDAQ OMX Award for the Best Paper on Asset Pricing in 2010. Lustig is a Faculty Research Fellow at the NBER and CEPR and an associate editor at the Journal of Finance and the Review of Asset Pricing Studies. Lustig is also a founding member of the Macro Finance Society. He has published widely in top-caliber journals such as the American Economic Review, the Journal of Monetary Economics, the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics.

Special Panel Sessions

Financial Intermediation and Banking in Cyprus

Panelists addressed current issues in financial intermediation and banking, including bailin vs bailout with emphasis on Cyprus, the role of central banks in financial crises, the independence of central banks and asset pricing implications.

• Alex Michaelides, Professor of Finance, Imperial College Business School
• Vasso Ioannidou, Professor of Finance, Bayes Business School

Perspectives on Research in Empirical Finance

The panel focused on scholars' perspectives on research in empirical finance. Each panelist described their most recent research projects and reflected on what they see as the frontier in empirical corporate finance research.

• Effy Benmellech, Professor of Finance & Real Estate, Northwestern University
• Nittai Bergman, Professor of Economics, Tel Aviv University
• Miriam Schwartz-Ziv, Associate Professor of Finance, Hebrew University of Jerusalem

Asset Pricing and Investments

• Stavros Panageas, Chair in Management and Professor of Finance, UCLA, Anderson School of Management
• Magnus Irie, Postdoctoral Research Associate, Princeton University
• Quentin Vandeweyer, Assistant Professor of Finance, University of Chicago Booth School of Business

Artificial Intelligence in Finance

The use of artificial intelligence (AI) is rapidly revolutionizing the way we access information but is not without controversy. Panelists from both practice and academia discussed current issues in the adoption of best practices in AI againbst the backdrop of ethical concerns and the introduction of new regulation.

• Nadia Massoud, Professor of Finance, University of Melbourne
• Minghui Chen, CFA, Technical University of Munich.
• Christina Orfanidou, Director of AI & Data, Deloitte Cyprus
• Zicheng "Leo" Xiao, Visiting Assistant Professor, University of Arkansas.

Among other topics addressed during the event were Diversity and Social Issues, CSR, ESG, Financial Stability, Fintech, and Financial Inclusiveness, Currency and Foreign Exchange, International Finance, Equity and Debt Capital Markets, Market Microstructure and Big Data, Hedge and Mutual Funds, Bank Lending, Bank Risk, Market Regulation, Monetary Policy, Private Equity and Venture Capital, M&As and Leveraged Buyouts, Payout Policies, Corporate Investments and Value Creation, Real Estate and Mortgages, Climate Finance, and Politics and Finance. The complete programme and full papers presented are available here.

https://www.fmaconferences.org/Cyprus2025/CyprusProgram.htm

“We are delighted to have brought the FMA European Conference to Limassol and be this year’s venue of such a prestigious gathering. The event showcased the very best of the finance academic community and reaffirmed our shared commitment to addressing the most pressing challenges facing international financial markets. The growing complexity of the global economic landscape highlighted the importance of not only advancing research but also strengthening international collaboration and professional networks. The Faculty of Management and Economics at the Cyprus University of Technology is especially proud to have hosted one of the most important academic events in the annual finance calendar which included a great line-up of sessions, exceptional discussions and exchange of research.”

Associate Prof. Elena Kalotychou                                              
Dean of the Faculty of Management and Economics

About the Financial Management Association International (FMA)
Founded in 1970, the FMA is a global leader in advancing knowledge and best practices in financial decision-making through research, education, and professional interaction among academics and practitioners.

FMA's mission is to broaden common interests among academics and practitioners, provide opportunities for professional interaction among academics, practitioners and students, promote the development and understanding of basic and applied research and sound financial practices, and improve the quality of financial education. FMA members include finance professionals, academics and students interested in the techniques and advances that define the field of finance.

https://www.fma.org/

About the Cyprus University of Technology – Faculty of Management and Economics

The Faculty of Management and Economics was established in 2004 in the heart of the city of Limassol as one of the founding faculties of the Cyprus University of Technology. The Faculty has rapidly grown into a prominent academic entity with two departments, the Department of Finance, Accounting and Management Science and the Department of Shipping, offering undergraduate and postgraduate programs with a strong record in research and education in finance. The Cyprus University of Technology is ranked #148 by the Times Higher Education Young University Rankings and #273 by the Times Higher Education Best Universities in Europe.

https://www.cut.ac.cy/faculties/fme/deans-welcome/

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