Professor Ian H. Giddy
Office: Stern School of Business, New York University, NY 10012.
Home: 119 West 82nd St, New York 10024.

Education
 

Academic and Professional Appointments
 

Consulting and Special Seminar Assignments
During the past 35-odd years, Dr. Giddy has taught numerous short courses and workshops at many of the world’s leading financial institutions, corporations, universities and government agencies. These include The World Bank, International Monetary Fund, Republic of Turkey Ministry of Finance, U.S. Treasury Department, Comptroller of the Currency, European Central Bank, Netherlands Development Fund, Nordic Investment Bank, Reserve Bank of India, Bank Negara Indonesia, Development Bank of Singapore, Canada Mortgage and Housing Corporation, Citigroup, Bank of America, Chase Manhattan Bank, JP Morgan, HSBC, Rabobank, Standard Bank, Manufacturers Hanover Trust, Claremont Economics Institute, Barclays Bank, Credit Suisse, First Boston, Deutsche Bank, HypoVereinsbank, Dresdner Bank, Swiss Bank Corporation, Bank of Boston, Royal Bank of Canada, Chemical Bank, Banco Santander, Bank Utama Malaysia, Morgan Stanley, Drexel Burnham Lambert, Price Waterhouse, Shearman & Sterling, USICA, General Electric, IBM, Yamaichi Securities, Grupo Espirito Santo, Reeves Industries, Bouygues, PDVSA (Venezuela), UNISA (South Africa), Prudential Securities, Institute of Bankers of Malaysia, Singapore Institute of Management, Korea Institute of Finance, Samsung Life, Deloitte & Touche, AC Nielsen, ASIA Ltd., Ontario Teachers’ Pension Plan, Sika Corporation, NIBC Bank, DEG Private Equity, Gulf Capital, Rand Merchant Bank, Findesa, BOE Private Clients, Alpha Bank, and others.

He has lectured in Abu Dhabi, Bangladesh, Belgium, Brazil, Canada, Chile, Costa Rica, Denmark, Dubai, Estonia, Finland, France, Germany, Greece, Hong Kong, Iceland, India, Indonesia, Ireland, Italy, Japan, Jordan, Korea, Kuwait, Latvia, Lebanon, Lithuania, Malaysia, Mexico, The Netherlands, Nicaragua, The Peoples Republic of China, Peru, The Philippines, Portugal, Romania, Senegal, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Turkey, the United Kingdom and Venezuela.

A selection of short courses he has given in recent years follows.

• Corporate Financial Restructuring (DBS Bank, Singapore)
• Workshop on Global Financial Developments (Swiss Banking School, Zurich)
• Financing Growth Companies (WestLB Panmure, Dusseldorf)
• Asset-Backed Securities: The Global Challenge (CFS, Frankfurt)
• Corporate Risk Management (Deloitte & Touche)
• Workshop on Corporate Financing and Risk Management (Estonia, Latvia & Lithuania)
• Value at Risk (IIR, Finland)
• Capital Markets (ING/Barings)
• Applied Corporate Finance (HypoVereinsbank, Munich)
• Mergers and Acquisitions (Lebanese American University, Byblos, Lebanon)
• Treasury Products Workshop (Vereinsbank, Munich, Germany)
• Interest Rate Options Workshop (Royal Bank of Canada)
• Financing with Asset-Backed Securities (IBBM, Malaysia)
• Corporate Finance and Derivatives (Banco Santander, Chile & Spain)
• Foreign Exchange and International Capital Markets (Ministry of Finance, Turkey)
• Managing Financial Risk (Dublin Business School, Ireland)
• Innovations in Corporate Finance (Nationsbank)
• International Financial Management (INSEAD, France)
• Foreign Exchange Options (Citigroup, Manila)
• Corporate Finance (Fundacao Joao Pinheiro, Brazil)
• The International Money and Capital Markets (UNISA, South Africa)
• Corporate International Finance (Helsinki School of Economics, Finland)
• Financial Innovations (Credit Suisse)
• International Money Markets (Institute of Banking and Finance, Singapore)
• Financing LBOs and M&A (Grupo Espirito Santo, Portugal)
• The Job of the Chief Financial Officer (Singapore Institute of Management)
• International Financing Techniques (IESA, Venezuela)
• Introduction to Finance (Merrill Lynch)
• Many other courses, listed at www.giddyonline.com

Articles in Referred Journals

• “The Random Behavior of Flexible Exchange Rates: Implications for Forecasting” (with G. Dufey), Journal of International Business Studies (Spring 1975), 1-32.
• “An Integrated Theory of Exchange Rate Equilibrium,” Journal of Financial and Quantitative Analysis (November 1977), 601-605.
• “Comment on Robichek and Eaker’s Foreign Exchange Hedging and the Capital Asset Pricing Model”, Journal of Finance (June 1978), 1030-1031.
• “Eurodollars and International Liquidity: Central Bank Depositing Reconsidered: (with G. Dufey), Societe Universitaire Europeene de Recherche Fiancieres Monograph Series, No. 22A, 1978.
• “Measuring the Eurocurrency Market” (with G. Dufey), Journal of Bank Research (Autumn 1978), 151- 160.
• “Interest Rates in the U.S. and Eurodollar Markets” (with G. Dufey and S. Min), Welwirtschaftliches Archiv, Vol. 115, No. 1 (1979), 51-67.
• “Towards a Theory of Interdependence in Global Banking Regulation” (with D. Allen), Eastern Economic Journal, Vol. 5, No. 4, 1979.
• “Bank Solvency Regulation and Deposit Insurance in the U.S. and the Netherlands” (with W. Eizenga), Societe Universitaire Europeene de Recherche Fiancieres Monograph Series, No. 27A, 1979. Dutch version in Bank-en-Effectenbedrijf, September 1979, 285, 293.
• “Moral Hazard and Central Bank Rescues in an International Context”, Financial Review, Vol. 15, No. 2 (Spring 1980), 50-56.
• “The Evolution of Instruments and Techniques in International Financial Markets” (with G. Dufey), Societe Universitaire Europeene de Recherches Fiancieres Monograph Series, No. 35A, 1981.
• “Averting International Banking Crises” (with J.W. Dean), Monograph Series in Finance and Economics, New York University, No. 81-1, 1981.
• “Innovation in the International Financial Markets” (with G. Dufey), Journal of International Business Studies (Fall 1981), 33-52.
• Reprinted in Robert W. Kolb and Thomas R. Schneeweis, eds., International Business: Concepts and Issues (Richmond: Robert Dame, 1982).
• “The Cost of Capital in the International Firm”, Managerial and Decision Economics, Vol. 2, No. 4 (1981), 263-271.
• “National Currencies as International Money”, Journal of Comparative Corporate Law and Securities Regulation, Vol. 3, No. 3 (1982).
• “Risk and Return in the Eurocurrency Interbank Market”, Greek Economic Review, 1982.
• “Foreign Exchange Options”, Journal of Futures Markets, Summer 1983.
• “Eurocurrency Deposit Risk”, (with G. Dufey) Journal of Banking and Finance, Vol. 8, 1984.
• “Domestic Regulation versus International Competition in Banking”, Kredit und Kapital, 1985.
• “Mitsubishi Corporation Finance,” (with R. Smith), Journal of International Accounting and Finance, 1994.
• “The Economics of Securities Settlement in Asia’s Emerging Markets,” Journal of Asian Economics, 1994.

Chapters in Books

• “Social Organization”, in Vern Terpstra et al., The Cultural Environment of International Business (Cincinnati: South-Western, 1978).
• Exchange Risk Under Exchange Controls and Credit Controls”, in R. Levich and C. Wihlborg, eds., Exchange Risk and Exposure: Current Developments in International Financial Management (Lexington Books, 1980).
• “The Theory and Industrial Organization of International Banking”, in R.M. Levich et al., The Internationalization of Financial Markets and National Economic Policy, (Lexington, 1981).
• “International Commercial Banking”, in Edward Altman, ed., Financial Handbook (5th ed., Wiley, 1981).
• “The International Money Markets: Perspective and Prognosis”, (with G. Dufey), in R.E. Baldwin and J.D. Richardson, eds., International Trade and Finance (2nd ed., Little Brown, 1981), 533-543.
• “Economic versus Regulatory Influences on Foreign Bank Penetration: A Test for Canada and the United States (with J.W. Dean), in Bank Structure and Competition 1981, (Federal Reserve Bank of Chicago, 1981).
• “Conventional Theory and Unconventional Multinationals” (with S. Young), in A.M. Rugman, ed., New Perspectives on the Multinational Enterprise: Theory and Applications (London: Croom Helm, 1982).
• “Exchange Risk, Forecasting, and Market Efficiency”, in J. Oh, ed., International Financial Management (Jai Press, 1982).
• “Trends in International Banking and Implications for Regulation” (with G. Dufey), in E.N. Roussakis, ed., International Banking (Praeger, 1982).
• “Gold Policies and Gold Prices”, in Botha, ed., Monetary Economics: Proceedings of a Conference (1984).
• “The Eurocurrency Market”, in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• “Eurocurrency Interest Rates”, in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• “International Trade Financing” (with M. Ismael), in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• “Mathematics of International Finance” (with Ho Sang Kang), in International Finance Handbook, ed. by A.M. George and I.H. Giddy (Wiley, 1983).
• “Eurocurrency Arbitrage, in Eurodollars and International Banking, ed, by Savona and G. Sutija (Macmillan, 1985)
• “New and Old Proposals for International Banking Safety” (with J. Dean), in Current Perspectives in Banking, ed by T. Havrilesky, J. Boorman and R. Schweitzer (1986).
• “Assetless Banking”, in Strategic Planning in International Banking, by P. Savona and G. Sutija (Macmillan, 1985).
• “Underwriting Risk for Commercial Banks: An Empirical Study”, Bank Structure and Competition 1984 (Federal Reserve Bank of Chicago, 1984).
• “Is Equity Underwriting Risky for Commercial Bank Affiliates?” in Deregulating Wall Street, ed by Ingo Walter (New York: Wiley, 1985).
• “Regulation of Off Balance Sheet Banking,” in Federal Reserve Bank of San Francisco, The Search for Financial Stability (1986).
• “Swaps” and other chapters, in Handbook of Investment Banking ed. by R. Kuhn (Dow Jones-Irwin, 1990)
• “The Management of Foreign Exchange Risk,” (with G. Dufey), in F. Choi, ed., Handbook of International Accounting (Wiley, 1993, 1994)
• “Exchange Rate Volatility, Hedging, and the Cost of Capital,” in Y. Amihud and R. Levich, eds, Exchange Rates and Corporate Performance (Irwin, 1994)
• “Money Markets of the Pacific Basin,” (with G. Dufey), in T. Fetherstone, ed., Asian Capital Markets, forthcoming 1994.
• “Who Should be the Banking Supervisors?” in Robert C. Effros, ed., Current Legal Issues Affecting Central Banks, International Monetary Fund, forthcoming.

Articles in Non-Referred Journals

• “The Blossoming of the Eurobond Market”, Columbia Journal of World Business (winter 1975), 66-76.
• “Forecasting Exchange Rates in a Floating World” (with G. Dufey), Euromoney (November 1975), 28-35. Also published under the title “Currency Forecasting in a Floating World,” in Foreign Exchange Risk (London: Euromoney Publications, 1978).
• “Eurodollar Market and the Third World” (with J.R. Ray), Michigan Business Review (March 1976), 11- 15.
• “Why it Doesn’t Pay to Make a Habit of Forward Hedging”, Euromoney (December 1976), 96-100. Also published under the title “Forward Hedging”, in Richard Ensor and Boris Antl, eds., The Management of Foreign Exchange Risk (London: Euromoney Publications, 1978). Also published in Donald R. Lessard, ed., Frontiers of International Financial Management (Warren, Gorham and Lamont, 1979).
• “The Demise of the Product Cycle Model in International Business Theory”, Columbia Journal of World Business (Spring 1978), 80-97.
• “Does FAS No. 8 Affect Stock Prices? Business International Money Report (May 1978), 165-168.
• “The Unique Risks of Eurodollars” (with G. Dufey), Journal of Commercial Bank Lending (June 1978), 122-132.
• “The Predictive Power of Black Market Rates”, Business International Money Report (June 1978), 165- 168.
• “International Financial Planning: The Use of Market-Based Forecasts” (with G. Dufey), California Management Review (Fall 1978), 69-81.
• “The Linkages that Tie Together International Interest Rates”, (with G. Dufey) Euromoney (November 1978), 127-132.
• “The Control of Offshore Banking: Europe Versus the United States” (with G. Dufey), American Banker, March 17, 1979.
• “Alternative Approaches to the Regulation of International Banking” (with G. Dufey), Singapore Banking and Finance Journal, 1979, 120-124.
• “International Competition in Bank Regulation” (with D. Allen), Banca Nazionale del Lavoro Quarterly Review, No. 130 (September 1979, 311-326.
• “The Public Policy Implications of the Eurocurrency Market”, Columbia Journal of World Business, Vol 14, No. 3 (Fall 1979), 4-7.
• “Measuring the World Foreign Exchange Market”, Columbia Journal of World Business, Vol. 14, Nol. 4, (Winter 1979), 36-48.
• “Six Ways to World Banking Safety” (with J.W. Dean), Euromoney, May 1981, 128-135.
• “Strangers and Neighbors: Cross-Border Banking in North America” (with J.W. Dean), Banca Nazionale del Lavoro Quarterly Review, No. 137 (June 1981, 191-211. Italian version in Moneta & Credito, Vol. 34, No. 134, 205-221.
• “The Foreign Exchange Option as a Hedging Tool”, Midland Corporate Finance Journal (Fall 1983).
• “Government Securities Dealing” New York University Business (Winter 1986), 57-60.
• “Procter & Gamble’s Diff Swap,” International Treasurer, July 1994.
• “Increase Economic Freedom (A Memo to President Mandela),” Stern Business, Fall 1994.
• “Corporate Uses and Abuses of Currency Options,” (with G. Dufey), Journal of Applied Corporate Finance, Fall 1996.
• Additionally, numerous articles and case studies published on the internet.

Books

• Devaluations, Revaluations and Stock Market Prices, unpublished Ph.D. dissertation, The University of Michigan, 1974.
• The International Finance Handbook (ed. with A.M. George), Two Vols, Wiley, 1983.
• Cases in International Finance (with G. Dufey), Addison Wesley, 1993.
• The International Money Market (with G. Dufey), Prentice-Hall, 1978 (“Foundations of Finance” series) (2nd edition 1994).
• Global Financial Markets, Houghton Mifflin (1994). Korean edition, Kyungmun Sa Publishing Co, 1994. Chinese edition, forthcoming.
• The Management of Financial Risk for Korean Firms (in Korean, with Rosung Kwak).
• Asset Securitization in Asia (1997) ASIA Limited, Singapore.

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Maintained Web Sites

• http://giddy.org
• http://giddyonline.com
• http://absresearch.com
• http://wildcliff.org
• http://cloudbridge.org
• http://giddy.net