EFA Governance

The European Finance Association (EFA) is a registered international non-profit organization with scientific and educational objectives, governed by the dispositions of the Code for Companies and Associations of 23 March 2019, as published in the Annexes of the official public registry organ: Le Moniteur belge.

The aim of the Association is to provide a professional association to academics and practitioners interested in the fields of finance and economics and its applications, with the purpose of supporting, disseminating and stimulating high quality research in the field in Europe. In particular. the association shall serve as a meeting and communication forum for its members resident in Europe and elsewhere. It will offer a network for the exchange of knowledge on an international level and provide a framework allowing for a better dissemination of information on research and teaching in finance and economics. EFA expects its members and the participants in its activities (namely the Annual Meeting and the Review of Finance editorial process) to adhere to the highest standards of academic integrity and professional relations as described in the Code of Conduct.

In 2023, the Executive Committee conducted a Governance Review. The outcome of the Review has been to draft Byelaws to clarify procedures, roles and responsibilities and the decision to create the Office of Treasurer. The Byelaws are published in 2025.

Executive Committee

The Association is administered by an Executive Committee of 12-18 members which includes the President, Vice-President, the Editor of the Journal of the Association, the Executive Secretary, the Chairperson plus 9 Directors elected at large by the General Assembly. (These Officers and Directors are members of the board and 'administrators' of the AISBL according to Belgian law.) Elections for 3 Directors take place every October-November for a 3 year term starting the following January.

» Click here to find out who is currently on the Executive Committee

» Click here for a list of current and previous Presidents and Chairpersons

President

We welcome Lubos Pastor as 2025 President of the European Finance Association for a one year term starting January 1, 2025. Lubos is Charles P. McQuaid Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. He also serves as a board member of the Fama-Miller Center for Research in Finance. Outside academia, he serves on the board of directors of Vanguard, the advisory board of the Andersen Institute for Finance & Economics, and the CRSP Index Advisory Council. He has served as director of the American Finance Association, director of the European Finance Association, president of the Western Finance Association, member of the Bank Board of the National Bank of Slovakia, director of the Center for Research in Security Prices, and associate editor of the Journal of Finance, Journal of Financial Economics, and the Review of Financial Studies and was Conference Chair of the EFA Annual Meeting in 2024.

Link to Lubos' profile on the University of Chicago website here.

Chair

Josef Zechner is Chair of the European Finance Association since January 1, 2023. Josef Zechner is Professor of Finance and Investments at WU (Vienna University of Economics and Business), speaker of the PhD program and Co-Head of Research Institute for Capital Markets (ISK). He is past president of the European Finance Association and was Managing Editor of the Review of Finance (joint with Marco Pagano) from 2003 to 2012, and was Conference Chair of the EFA Annual Meeting in 1997.

Link to Josef's profile at WU Vienna here

Managing Editor

Marcin Kacperczyk is Managing Editor of the Review of Finance since January 1, 2023. Marcin Kacperczyk is Professor of Finance at Imperial College London. He is past president of the European Finance Association and was Conference Chair of the EFA Annual Meeting in 2018.

Link to Marcin's profile at Imperial College London here.

Elections of New Directors

The Election of Directors is done by conducting a vote of the full membership of the Association outside the regular annual General Assembly by e-mail and organized by the Executive Secretary under the guidance of the Executive Committee.

The results of elections are valid if at least one thirtieth of the members express their vote. The outcome of the elections are ratified at the next scheduled General Assembly. The names and short biographies of candidates are communicated in advance to all voting members by mail, e-mail and a period of 4 weeks is afforded to allow members to make up their minds knowledgeably and convey their votes to the Association. The Directors elected are in office for a term of three years beginning on January 1 of the calendar year following their election. They can be dismissed by the General Assembly. In the case of resignation of one or more Directors or the election of a Director to an Officer role, additional Directors may be elected by the General Assembly for the remaining terms of the outgoing Directors.

We are delighted to announce that Tobias Berg, Alexander Ljungqvist and Victoria Vanasco have been elected as Directors for 2025-2027. The results of the elections will be ratified by the members at the General Assembly on Friday August 22, 2025 in Paris. Their term started on January 1, 2025. The 2024 Nominating Committee was chaired by Past President Xavier Vives and included Past President Elena Carletti, Bo Becker, Sophie Moinas and Kelly Shue. Click here to review a list of former Directors going back to 2004.

General Assembly

The General Assembly holds full authority and decision power to take all the actions needed to achieve the objectives of the Association. The General Assembly of the members of the Association is held annually on a date and at a venue determined by the Executive Committee. The invitation to attend the General Assembly along with the agenda of the meeting is sent to all Association members by email at least 30 days before the date of the General Assembly. The next General Assembly will be held on Friday August 22, 2025 at the Skema Business School in Paris.

» Click here for more information about recent General Assemblies

Executive Secretary

The EFA Executive Secretary is based in Brussels. The EFA Secretariat (the Association's headquarters) is located at: Rue Fossé aux loups, 38, 1000 Brussels, Belgium – in the offices of the European Institute for Advanced Studies in Management (EIASM).

» Click here to see contact details for the Executive Secretary

Statutes and Byelaws

To read the complete text and Articles of the latest version, download the EFA Statutes [362 KB] and Byelaws.

The 2024 revision to the statutes was approved by the European Finance Association members at the General Assembly August 23, 2024 and the French translation was published by the Moniteur belge October 18, 2024. In February 2010, the proposed modifications to the EFA Statutes (ratified at the 2009 EFA General Assembly) were filed with a notary public in Brussels and published in Le Moniteur belge on 31 May 2010.].

Registered address, company number and VAT number

The European Finance Association (EFA) is an international non-profit organization (INPO / AISBL / IVZW) registered in Brussels Capital Region in Belgium at the following address: European Finance Association, Rue Fossé aux Loups 38, 1000 Brussels, Belgium.

The Company Number is RPM/RPR 0864.639.588.

The VAT number is BE 0864.639.588.

The EFA bank account is with KBC Bank; the account number is IBAN: BE40 4245 5333 1163; SWIFT code: KREDBEBB.