The topics discussed were classified in nine sessions: Financial Theory, Financial Time Series, Risk Analysis, Portfolio Analysis, Financial Institu­ tions, Microstructures Market and Corporate Finance, Methods in Finance, Models in Finance and Derivatives.

On the Use of Credit Rating Migration Matrices.- Do Stock Market Anomalies Disappear? The Example of Small Size and Market-to-Book Premia at the London Stock Exchange.- Testing Independence: A New Approach.- Forecasting Exchange Rates Volatilities Using Artificial Neural Networks.- An Application of Hybrid Models in Credit Scoring.- Portfolio Selection Via Goal Programming.- ARCH Factor: A New Methodology to Estimate Value at Risk.- A Problem of Optimization in a Case of Foreign Investment.- Improving Portfolio Performances Using Options Strategies.- An X-Efficiency Analysis of Different Banking Organizational Types in Europe.- Towards a Coherent Volatility Pricing Model: An Empirical Comparison.- Direction Indicators in Financial Modelling.- Stock-Split Ex-Dates: Evidence from the Spanish Stock Market.- Portfolio Performance Through the Eyes of Monkeys.- Approximation Properties of the Neuro-Fuzzy Minimum Function.- A Stakeholder Approach to the Valuation of Corporate Cash Flows.- Fuzzy Mathematical Programming for Portfolio Management.- Business Investment and Financial Constraints. Evidence of Spanish Case by Using Company Level Panel Data.- A Portfolio Problem with Uncertainty.- Pricing Seats as Barrier Options. Implications for the Futures Markets.- Volatility Transmission Between Stock Markets.- Incentive Contracts and Performance Measures Based on Accrual Accounting Numbers.- A General Approach to Different Concepts of Cost of Capital.- European Banks and the Creditmetrics Model: Can We Make its Implementation Easier?.- Informational and Operational Financial Modelling as Strategic Part of the Corporate Criminal Intelligence Analysis.- Immunization of Portfolios with Liabilities.- Analysis and Forecasting of Social Security: A Study of Robustness.