Public Defence of Vytautas Žukauskas Doctoral Dissertation

We kindly invite you to the defense of Vytautas Žukauskas  Doctoral Dissertation “The Implications of Monetary Policy for the Value and Prices of Financial Assets” leading to the awarding of the Double Doctoral degree in Economics. The dissertation was prepared under the joint supervision of prof. Tadas Šarapovas and prof. Guido Hülsmann in the double Doctoral degree program between the ISM University of Management and Economics (Lithuania) and Angers University (France).

The Dissertation challenges the traditional view of financial asset pricing, and proposes a new framework based on the subjective value theory. The Dissertation claims that monetary policy influences the prices of financial assets by changing both the properties of financial assets and the properties of money. Moreover, the Dissertation explores the notion of the quality of money and introduces an empirical measurement of the quality of Euro.

Vytautas is known to be a passionate speaker, always eager to wholeheartedly defend his case, so you are up for a treat!

The public defense of the doctoral dissertation will be held at 10 a.m. on the 13th of November 2020, at ISM University of Management and Economics, room 310. Address: Arklių str. 18, Vilnius, Lithuania.

We invite to watch doctoral defense remotely.


Defense board members


Prof. dr. Valdonė Darškuvienė (ISM University of Management and Economics, Social Sciences, Economics – S 004)


Prof. dr. Catherin Deffains-Crapsky (Angers University, Social Sciences, Social Sciences, Economics – S 004);

Prof. dr. Rytis Krušinskas  (Kaunas University of Technology, Social Sciences, Economics – S 004);

Dr. Mateusz Machaj (University of Wrocław, Social Sciences, Economics – S 004);

Prof. dr. Violeta Pukelienė (Vytautas Magnus University, Social Sciences, Economics – S 004).


The dissertation is available at the Martynas Mažvydas National library and library of ISM University of Management and Economics.