As Executive Director of the International Center for Finance at the Yale School of Management, I am pleased to announce the introduction and publication of the Yale School of Management-Chinese Center for Economic Research Investor Confidence Indices.  This indices represents the largest joint effort thus far between our academic institutions, and demonstrates the Yale School of Management's and CCER's interest and expertise in understanding global financial markets. 

Based upon first of their kind surveys conducted by Yale's Professor Robert Shiller, this survey provides a new source of information that will allow a better understanding of the emerging Chinese markets.  For years, Professor Shiller's surveys have provided insight into the markets of the United States and Japan, predicting bubbles and demonstrating the impact that perception can have on the markets.  The impact of his survey goes far beyond esoteric research, but has real applications for practitioners around the world.  Now the survey under the guidance of the International Center for Finance at the Yale School of Management is being conducted internationally.  By monitoring the investor confidence of both private and professional investors, governments and financial institutions can closely monitor their financial markets and can take precautionary steps to protect the integrity of their markets and the investments of their citizens and clients. 

The publication of this survey represents the beginning of what will be CCER's involvement in a global research partnership led by the International Center for Finance at the Yale School of Management.  Working only with the top financial research institutions in each country, the inclusion of the Chinese Center for Economic Research in this effort signifies the Yale School of Management's recognition of the quality of the CCER's academic research.  Only the first of many joint efforts between our institutions, I expect the results of this survey to have a dramatic impact upon the level of foreign direct investment into China and certainly to have a significant impact upon its markets.  

Zachary J. Bagdon

Executive Director

The International Center for Finance at the Yale School of Management