Dear Readers,
As the new editor of Bankers Markets and Investors (BMI), I would first like to express my gratitude to my predecessor, Jean-François Boulier, who launched BMI in 1992 and did a remarkable job in bridging the academic and professional financial communities. I was truly honored when Jean-François invited me to succeed him. As an investment professional, an associate professor, and a researcher at two universities in Brussels and Paris, I find the unique bridging scope of BMI very important.
BMI is recognized as a high quality journal, and I do think there are some opportunities for growth, namely to increase the journal’s visibility in Europe and to broaden its readership among professionals. To achieve these goals, we have expanded the editorial board to include international members, we have a new editorial line and an improved editorial process.
Subsequent issues of BMI will contain short research articles (a maximum of 20 pages) including practical applications. It is aimed at professionals and investors, who appreciate being rapidly informed about the most relevant scholarly innovations in the areas of banking, financial markets and investment.
Desk rejection has been introduced, and thanks to an improved editorial process,the reviewing time of each submitted article is now reduced (we aim for a time scale of 3 months). Editorial Board members now serve as Associate Editors, who are responsible for suggesting external referees and monitorin the reviewing process.
The January-February 2014 special issue of BMI includes guest contributions from renowned experts in the field. Bruno Biais and Thierry Foucault (p. 5 to 19) present a cutting-edge review on high frequency trading and its impact on market liquidity and quality. Ronnie Sadka (p.20 to 30) estimates liquidity risk premia across 106 financial indices worldwide. Sébastien Pouget (p. 31 to 35) assesses the financial performances of socially responsible investments and suggests engagement-based investment strategies. Building on the ongoing pension reform in the Netherlands, Theo Nijman (p. 36 to 45) proposes innovative financial retirement products. A commentary by Jean-François Boulier about the French situation follows (p. 46 to 48). Finally, Zvi Bodie and I (p. 49 to 54) discuss the financial management of sovereign wealth funds in an Asset-Liability Management Framework.
I hope you enjoy this issue and I thank you for your continued interest in BMI.
Yours faithfully,
Marie Brière
Editor of Bankers Markets and Investors
