Conference Agenda

Session Overview
 
Date: Thursday, 25/Mar/2021
1:45pm
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2:00pm
Zoom Welcome Desk opens
2:00pm
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3:20pm
Room A: AP 1
Chair: Katie Moon, University of Colorado
 

Real-time Price Discovery via Verbal Communication: Method and Application to Fedspeak

Marco Grotteria, Roberto Gomez Cram

London Business School, United Kingdom

Discussant: John Kuong (INSEAD)



Imprecise and Informative: Lessons from Market Reactions to Imprecise Disclosure

J. Anthony Cookson1, S. Katie Moon1, Joonki Noh2

1: University of Colorado Boulder, United States of America; 2: CaseWestern Reserve University, United States of America

Discussant: Giuliano Curatola (University of Siena)

Room B: FMG 1
Chair: Pascal Towbin, Swiss National Bank
 

Mortgage Prepayment, Race, and Monetary Policy

Kristopher Gerardi1, Paul Willen2, David Hao Zhang3

1: Federal Reserve Bank of Atlanta, United States of America; 2: Federal Reserve Bank of Boston, United States of America; 3: Harvard Business School, United States of America

Discussant: Daniel Ruf (Goethe Universität Frankfurt am Main)



Inferring Expectations from Observables: Evidence from the Housing Market

Itzhak Ben-David1,2, Pascal Towbin3, Sebastian Weber4

1: Fisher College of Business, The Ohio State University, United States of America; 2: National Bureau of Economic Research, United States of America; 3: Swiss National Bank, Switzerland; 4: International Monetary Fund, United States of America

Discussant: Kristian Blickle (FED New York)

Room C: BHF 1
Chair: Andreas Fuster, Swiss National Bank
 

Salience and Households' Flood Insurance Decisions

Zhongchen Hu

London School of Economics and Political Science, United Kingdom

Discussant: Benjamin Guin (Bank of England)



Know Thyself: Free Credit Reports and the Retail Mortgage Market

Amit Kumar

The Hong Kong University of Science and Technology, Hong Kong S.A.R. (China)

Discussant: Andreas Fuster (Swiss National Bank)

Room D: CFG 1
Chair: Philip Valta, University of Bern
 

New Products

Abhiroop Mukherjee1, Tomas Thornquist2, Alminas Zaldokas1

1: The Hong Kong University of Science and Technology, Hong Kong S.A.R. (China); 2: Shell Street Labs, Hong Kong S.A.R. (China)

Discussant: Philip Valta (University of Bern)



Online Reputation and Debt Capacity

François Derrien1, Alexandre Garel2, Arthur Petit-Romec3, Jean-Philippe Weisskopf4

1: HEC Paris, France; 2: Audencia Business School, France; 3: SKEMA Business School & Université Côte d'Azur, France; 4: Ecole hôtelière de Lausanne, Switzerland

Discussant: Emilia Garcia-Appendini (University of Zurich)

Room E: FII 1
Chair: Karolin Kirschenmann, ZEW
 

Banks and Firms: Evidence of a legal reform giving more power to firms

Hans Degryse1, Olivier De Jonghe2, Nikolaos Karagiannis3

1: KU Leuven, and CEPR; 2: National Bank of Belgium, and Tilburg University; 3: Alliance Manchester Business School, and KU Leuven

Discussant: Karolin Kirschenmann (ZEW)



Population aging and bank risk-taking

Sebastian Doerr2, Gazi Kabas1, Steven Ongena3

1: University of Zurich & Swiss Finance Institute, Switzerland; 2: Bank for International Settlements, Switzerland; 3: University of Zurich & Swiss Finance Institute & KU Leuven & CEPR

Discussant: Andreas Barth (Goethe University Frankfurt)

3:40pm
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5:00pm
Room A: AP 2
Chair: Jens Dick-Nielsen, Copenhagen Business School
 

Deep Learning in Asset Pricing

Luyang Chen, Markus Pelger, Jason Zhu

Stanford University, United States of America

Discussant: Jens Dick-Nielsen (Copenhagen Business School)



Single-step Portfolio Construction through Reinforcement Learning and Interpretable AI

Lin William Cong1, Ke Tang2, Jingyuan Wang3, Yang Zhang3

1: Cornell University, United States of America; 2: Tsinghua University, China; 3: Beihang University, China

Discussant: Gianluca De Nard (University of Zurich / New York University)

Room B: FMG 2
Chair: Thomas Gehrig, University of Vienna
 

Increasing Corporate Bond Liquidity Premium and Post-Crisis Regulations

Botao Wu

New York University, Stern School of Business, United States of America

Discussant: Fabian Hollstein (Leibniz University Hannover)



The Design of a Central Counterparty

Vincent Maurin1, John Kuong2

1: Stockholm School of Economics, France; 2: INSEAD, France

Discussant: Thomas Gehrig (University of Vienna)

Room C: BHF 2
Chair: Arna Olafsson, Copenhagen Business School (CBS)
 

Necessary Evidence For A Risk Factor’s Relevance

Alex Chinco, Samuel Hartzmark, Abigail Sussman

University of Chicago, United States of America

Discussant: Michael Ungeheuer (Aalto University)



Beliefs About the Stock Market and Investment Choices: Evidence from a Field Experiment

Christine Laudenbach1, Annika Weber2, Johannes Wohlfart3

1: University of Bonn, Germany; 2: Goethe University Frankfurt am Main, Germany; 3: University of Copenhagen, Denmark

Discussant: Arna Olafsson (Copenhagen Business School (CBS))

Room D: CFG 2
Chair: Thomas Schmid, University of Hong Kong
 

The Advisory and Monitoring Roles of the Board: Evidence from Disruptive Events

Ettore Croci1, Gerard Hertig2, Layla Khoja3, Luh Luh Lan4

1: Università Cattolica del Sacro Cuore, Italy; 2: ETH Zurich, Switzerland; 3: Singapore-ETH Centre, Switzerland; 4: National University of Singapore, Singapore

Discussant: Thomas Schmid (University of Hong Kong)



The economic costs of climate change

Claudia Custodio2, Miguel Ferreira3, Emilia Garcia-Appendini1, Adrian Lam2

1: University of Zurich, Switzerland; 2: Imperial College Business School, United Kingdom; 3: Nova School of Business and Economics, Portugal

Discussant: Emirhan Ilhan (Frankfurt School of Finance and Management)

Room E: FII 2
Chair: Tobias Berg, Frankfurt School of Finance & Management
 

How Important Is Moral Hazard For Distressed Banks?

Itzhak Ben-David1,3, Ajay Palvia2, René Stulz1,3

1: Fisher College of Business, The Ohio State University, United States of America; 2: The Federal Deposit Insurance Corporation, United States of America; 3: National Bureau of Economic Research (NBER), United States of America

Discussant: Tobias Berg (Frankfurt School of Finance & Management)



The Myth of the Lead Arranger’s Share

Kristian Blickle1, Quirin Fleckenstein2, Sebastian Hillenbrand2, Tony Saunders2

1: FED New York, United States of America; 2: New York University, Stern School of Business

Discussant: Sotirios Kokas (University of Essex)

5:15pm
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6:30pm
Keynote Session (Chair: Martin Brown)
  • Announcement Best Paper Award
  • Keynote Speech by Prof. Thorsten Hens (University of Zurich and Swiss Finance Institute), "Evolutionary Portfolio Theory"