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Cambridge Endowment for Research in Finance (CERF)


The CERF Alumni Society (CERFAS) is a research community of former CERF post-doctoral researchers, and a representative of the current CERF post-docs. CERFAS was founded in 2021 by Mehrshad Motahari. CERFAS is run by an executive committee that meets several times per year and organizes events and activities for its members.

CERFAS aims to foster and advance research in finance, financial institutions, and financial markets, and their relationship with the economy. CERFAS promotes research that advances financial policy and practice, addresses real-world challenges and delivers long-term welfare gains to society.


Executive Committee


There are five executive members who constitute the executive committee.

Executive members are selected biennially by active members through voting in early September. 


Current executive committee (2021-2023):


Dr Mehrshad Motahari (president)

Dr Hormoz Ramian (secretary)

Dr Shiqi Chen (CERF representative)

Dr Adelphe Ekponon

Dr Sunwoo Hwang




Dr Mehrshad Motahari (president)

Dr Hormoz Ramian (secretary)

Dr Shiqi Chen (CERF representative)

Dr Adelphe Ekponon

Dr Scott Guernsey

Dr Sunwoo Hwang

Dr Walter Jansson

Dr Jisok Kang

Dr Yuan Li

Dr Qiusha Peng

Dr Alex Tse

Dr Hui Xu


Latest news

PhD advisor and co-author of CERF post-doc Xinyu Hou wins Nobel Prize in Economics

11 October 2022

Philip H Dybvig from Washington University is (joint with Bernanke and Diamond) a recipient of this year’s Nobel Memorial Prize in Economic Sciences for his research on banks and financial crises. Prof. Dybvig is the former PhD advisor of Dr Xinyu Hou who is currently a post-doctoral researcher at the Cambridge Endowment...