Dr. Gabriela Coiculescu, assistant professor of finance at Sy Syms School of Business, was recently awarded funding from the Office of the Provost’s Faculty Research Fund to co-author a study with Dr. Henry Huang, associate professor of accounting at Sy Syms, and Dr. Bin Li, assistant professor of accounting at the University of Oklahoma, on the connection between immigration and the financial industry.
“From Ellis Island to Wall Street: High-skilled Immigrants and Fund Performance” is an attempt, said Dr. Coiculescu, “to shed light on the effect of high-skilled immigrants in the financial industry, focusing on hedge fund trading behavior and performance.” This investigation fits perfectly with her research interests in corporate finance, innovation and networks in finance.
According to the co-authors, the project will use real immigration and Wall Street hedge fund performance data sets. Econometric techniques such as multivariate regression analysis will identify the effect of high-skilled immigrants on fund performance. “There is a long literature in labor economics considering the effect of foreign immigrants on macroeconomic outcome,” said Dr. Huang. “We aim to push the boundary further by linking the immigration to financial industry performance, especially with firms in New York City.” The grant will be used entirely and exclusively for acquiring one of the databases necessary for the project.
Ultimately, the goal of the research is to provide intellectual insights and guidance to students seeking possible careers in finance and associated industries. “Understanding the factors that affect financial firm performance,” said Dr. Coiculescu, “and taking into account recent developments in the industry will enable us to better prepare our students for successful careers in finance as well as helping them make informed personal finance decisions.”
The project is in its early stages; they expect to complete a first draft of the paper later this year.
Through the Faculty Research Fund, Yeshiva University supports the research, scholarship and creative activity of the full-time faculty at all University schools and colleges. The maximum award for a research grant is $7,500, and recommendations are made to the Provost by a deans’ committee that rotates its membership every two years.