Second Amendment to the By-Laws: Special Ballot

01/11/2005

Second Amendment to the By-Laws of the Society for Financial Studies

Section 7.2(e) reads as follows:

“Financial Support to Employer. The Corporation may provide financial support to the institution employing the Executive Editor to assist in defraying the costs of clerical, secretarial, and computing support necessary to the duties of the Executive Editor.”

The Executive Committee, consisting of Maureen O’Hara, Mark Weinstein, Wayne Ferson, Milton Harris, and Ravi Jagannathan, has unanimously proposed to amend Section 7.2(e) to read as follows:
“Financial Support to Employer. The Corporation may provide financial support to the institution employing the Executive Editor to assist in defraying the costs of clerical, secretarial, and computing support necessary to the duties of the Executive Editor and to compensate the institution for granting teaching relief to the Executive Editor.”

Justification:

The Executive Committee of the Society for Financial Studies (SFS) has found that academic institutions are increasingly reluctant to support the activities of scholarly journals such as ‘The Review of Financial Studies.’  This includes both administrative support and the provision of teaching relief to editors. This led us to amend the By-laws several years ago to allow the SFS to provide funds for administrative support.  Since it is impossible to attract top quality editors who do not receive teaching relief, and since fewer institutions are willing to provide such relief without reimbursement, the Executive Committee has come to the inescapable conclusion that it is now necessary for the SFS to have the ability to finance teaching relief for its Executive Editor, when such expenditures are required to attract an Executive Editor of the highest quality.

Signed,

Ravi Jagannathan
President, Society for Financial Studies

___ YES, amend the bylaws as outlined above.

___ NO, do not amend the bylaws as outlined above.

Please indicate your preference, and return the ballot before October 21st to:

Professor Matthew Spiegel

Yale School of Management

P.O. Box 208200

New Haven, CT 06520-8200

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