{"id":6175,"date":"2025-08-01T15:13:14","date_gmt":"2025-08-01T18:13:14","guid":{"rendered":"https:\/\/investiga.uandes.cl\/?p=6175"},"modified":"2025-08-26T17:33:02","modified_gmt":"2025-08-26T20:33:02","slug":"professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals","status":"publish","type":"post","link":"https:\/\/investiga.uandes.cl\/en\/professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals\/","title":{"rendered":"ESE Business School academic publishes research in Journal of Financial Economics"},"content":{"rendered":"

Professor Felipe Aldunate<\/a><\/strong>, Director of the Economics and Finance Area and Deputy Director of the Center for Corporate Governance and Society at ESE Business School<\/a><\/strong>has published his most recent research in the prestigious Journal of Financial Economics<\/a><\/strong>one of the five highest-impact journals worldwide in the Business\/Finance category, according to Clarivate (JCR), and part of the exclusive FT50 list.<\/strong><\/p>\n\n\n\n

The study, entitled Pension Fund Flows, Exchange Rates, and Covered Interest Rate Parity\"<\/a>,<\/strong> rigorously addresses the effects on the Chilean financial market of the AFP fund-switching recommendations made by advisory firms.<\/strong> These recommendations mobilize large volumes of capital, generating significant foreign currency sales and purchases due to the high international exposure of equity funds. The analysis reveals how these flows directly affect the Chilean peso exchange rate and the covered interest rate parity.<\/p>\n\n\n\n

One of the most relevant findings of the article is the role played by local banks as liquidity providers in the spot foreign exchange market. To meet the demand for the purchase or sale of foreign currency by pension funds, these institutions engage in operations in the international market, generating effects that also extend to the derivatives market. Furthermore, the research explains why, due to regulatory restrictions and arbitrage costs, deviations in the covered parity may persist over time.<\/p>\n\n\n\n

\"Since I joined the ESE<\/a><\/strong>, I have concentrated my research efforts on this paper. I would like to sincerely thank those who have supported me, helping me to find the necessary opportunities to achieve this publication,\" commented Professor Aldunate.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

Felipe Aldunate achieves an important academic milestone by publishing a study on the impact of pension funds on the Chilean foreign exchange market in one of the world's most influential finance journals.<\/p>","protected":false},"author":1,"featured_media":6381,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economia"],"yoast_head":"\nAcad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/investiga.uandes.cl\/en\/professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES\" \/>\n<meta property=\"og:description\" content=\"Felipe Aldunate logra un importante hito acad\u00e9mico al publicar estudio sobre el impacto de los fondos de pensiones en el mercado cambiario chileno en una de las revistas m\u00e1s influyentes del mundo en finanzas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/investiga.uandes.cl\/en\/professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals\/\" \/>\n<meta property=\"og:site_name\" content=\"Investiga UANDES\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-01T18:13:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-26T20:33:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Universidad de los Andes\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Universidad de los Andes\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/\"},\"author\":{\"name\":\"Universidad de los Andes\",\"@id\":\"https:\/\/investiga.uandes.cl\/#\/schema\/person\/98e4042261f6d20b73b4e8cae8ff4495\"},\"headline\":\"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics\",\"datePublished\":\"2025-08-01T18:13:14+00:00\",\"dateModified\":\"2025-08-26T20:33:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/\"},\"wordCount\":308,\"publisher\":{\"@id\":\"https:\/\/investiga.uandes.cl\/#organization\"},\"image\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg\",\"articleSection\":[\"Econom\u00eda\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/\",\"url\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/\",\"name\":\"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES\",\"isPartOf\":{\"@id\":\"https:\/\/investiga.uandes.cl\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg\",\"datePublished\":\"2025-08-01T18:13:14+00:00\",\"dateModified\":\"2025-08-26T20:33:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage\",\"url\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg\",\"contentUrl\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg\",\"width\":1920,\"height\":550},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/investiga.uandes.cl\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/investiga.uandes.cl\/#website\",\"url\":\"https:\/\/investiga.uandes.cl\/\",\"name\":\"Investiga UANDES\",\"description\":\"Investigaci\u00f3n, Universidad de los Andes\",\"publisher\":{\"@id\":\"https:\/\/investiga.uandes.cl\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/investiga.uandes.cl\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/investiga.uandes.cl\/#organization\",\"name\":\"Investiga UANDES\",\"url\":\"https:\/\/investiga.uandes.cl\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/investiga.uandes.cl\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/03\/investiga_uandes.jpg\",\"contentUrl\":\"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/03\/investiga_uandes.jpg\",\"width\":2000,\"height\":771,\"caption\":\"Investiga UANDES\"},\"image\":{\"@id\":\"https:\/\/investiga.uandes.cl\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/investiga.uandes.cl\/#\/schema\/person\/98e4042261f6d20b73b4e8cae8ff4495\",\"name\":\"Universidad de los Andes\",\"sameAs\":[\"https:\/\/test.uandes.cl\"],\"url\":\"https:\/\/investiga.uandes.cl\/en\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/investiga.uandes.cl\/en\/professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals\/","og_locale":"en_US","og_type":"article","og_title":"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES","og_description":"Felipe Aldunate logra un importante hito acad\u00e9mico al publicar estudio sobre el impacto de los fondos de pensiones en el mercado cambiario chileno en una de las revistas m\u00e1s influyentes del mundo en finanzas.","og_url":"https:\/\/investiga.uandes.cl\/en\/professor-at-ese-business-school-publishes-in-one-of-the-worlds-most-influential-finance-journals\/","og_site_name":"Investiga UANDES","article_published_time":"2025-08-01T18:13:14+00:00","article_modified_time":"2025-08-26T20:33:02+00:00","og_image":[{"width":1920,"height":550,"url":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg","type":"image\/jpeg"}],"author":"Universidad de los Andes","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Universidad de los Andes","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#article","isPartOf":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/"},"author":{"name":"Universidad de los Andes","@id":"https:\/\/investiga.uandes.cl\/#\/schema\/person\/98e4042261f6d20b73b4e8cae8ff4495"},"headline":"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics","datePublished":"2025-08-01T18:13:14+00:00","dateModified":"2025-08-26T20:33:02+00:00","mainEntityOfPage":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/"},"wordCount":308,"publisher":{"@id":"https:\/\/investiga.uandes.cl\/#organization"},"image":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage"},"thumbnailUrl":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg","articleSection":["Econom\u00eda"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/","url":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/","name":"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics - Investiga UANDES","isPartOf":{"@id":"https:\/\/investiga.uandes.cl\/#website"},"primaryImageOfPage":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage"},"image":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage"},"thumbnailUrl":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg","datePublished":"2025-08-01T18:13:14+00:00","dateModified":"2025-08-26T20:33:02+00:00","breadcrumb":{"@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#primaryimage","url":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg","contentUrl":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/08\/Portada-web.jpg","width":1920,"height":550},{"@type":"BreadcrumbList","@id":"https:\/\/investiga.uandes.cl\/profesor-del-ese-business-school-publica-en-una-de-las-revistas-mas-influyentes-del-mundo-en-finanzas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/investiga.uandes.cl\/"},{"@type":"ListItem","position":2,"name":"Acad\u00e9mico del ESE Business School publica investigaci\u00f3n en Journal of Financial Economics"}]},{"@type":"WebSite","@id":"https:\/\/investiga.uandes.cl\/#website","url":"https:\/\/investiga.uandes.cl\/","name":"Investiga UANDES","description":"Investigaci\u00f3n, Universidad de los Andes","publisher":{"@id":"https:\/\/investiga.uandes.cl\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/investiga.uandes.cl\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/investiga.uandes.cl\/#organization","name":"Investiga UANDES","url":"https:\/\/investiga.uandes.cl\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/investiga.uandes.cl\/#\/schema\/logo\/image\/","url":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/03\/investiga_uandes.jpg","contentUrl":"https:\/\/investiga.uandes.cl\/wp-content\/uploads\/2025\/03\/investiga_uandes.jpg","width":2000,"height":771,"caption":"Investiga UANDES"},"image":{"@id":"https:\/\/investiga.uandes.cl\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/investiga.uandes.cl\/#\/schema\/person\/98e4042261f6d20b73b4e8cae8ff4495","name":"Universidad de los Andes","sameAs":["https:\/\/test.uandes.cl"],"url":"https:\/\/investiga.uandes.cl\/en\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/posts\/6175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/comments?post=6175"}],"version-history":[{"count":9,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/posts\/6175\/revisions"}],"predecessor-version":[{"id":6431,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/posts\/6175\/revisions\/6431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/media\/6381"}],"wp:attachment":[{"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/media?parent=6175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/categories?post=6175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investiga.uandes.cl\/en\/wp-json\/wp\/v2\/tags?post=6175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}