FIC was established in 1992 with the help of the Sloan Foundation, which provided material funds, and was originally designated as the Sloan Industry Center for Financial Institutions.
So it was the first such center founded to explore service-sector industry. Though the FIC is independent from any political or other sort of government, it is a private institution and is supported by some research partners, corporate sponsors, various foundations and non-profit organizations. Nowadays the main objective of the FIC is to sponsor and direct research on financial institutions in the sphere of Improving productive and performance, managing financial risks and assessing competitive structure of markets and institutions. Within these broad themes, the research efforts tend to be cross-disciplinary and highly relevant to industry challenges and concerns.
For example, not long ago there was held an investigation of the role of the financial sector in economic performance as well as the comparative advantages of bank-based financial systems (like that of Germany) with a financial market-based system (like that of the U.S.) in sharing risk, providing information, and allocating resources. The problems of regulatory and supervisory problems that arise from conflicts among differing national financial systems and the policy was thoroughly studied as well.
Deep exploration of this agenda could have been impossible without close cooperation of academic resources of the Wharton University and financial service professionals. Thus the FIC utilizes the broad and established research capabilities of Wharton Business School faculty and students. Approximately one quarter of Wharton's 212 standing takes or took part in FIC`s programs. Faculty-led research projects, participation in it gives a most valuable experience include a growing number of doctoral candidates and selected MBA students. Their efforts are combined with the real-world expertise of industry practitioners through study partnership, the great part of which occupy financial services firms providing direct sponsorship. FIC research programs unite experts in finance, information technology, statistics, human resources, strategy, marketing, risk management, legal studies, economics, engineering, and other disciplines, guaranteeing high quality of research. At any point in time, about thirty projects are directly itemed in FIC studying schedule. Many Center projects involve field-based research methodologies, addressing the real-world issues facing the financial services sector.
Communication, as well as close collaboration with high-ranking specialists, is one more necessary part of the Center's mission and activities. Results of research are widely lit in publications, industry forum groups, and Center-sponsored conferences.
So it` s hard to overestimate the meaning of the FIC centre for both the Wharton Financial Institution and the development of other spheres of business. The existence of such a centre provides a valuable experience for professionals and MBA students bring in the mite to modern economy.
wharton financial institutions