Conference Agenda

Session Overview
Date: Friday, 26/Mar/2021
1:45pm - 2:00pmZoom Welcome Desk opens
2:00pm - 3:20pmRoom A: AP 3
Session Chair: Loriana Pelizzon, SAFE Goethe University Frankfurt

Issuance and Valuation of Corporate Bonds with Quantitative Easing

Stefano Pegoraro1, Mattia Montagna2

1University of Notre Dame, United States of America; 2University of Toronto, Canada

Discussant: Loriana Pelizzon (SAFE Goethe University Frankfurt)

Predicting bond return predictability

Daniel Borup1, Jonas Nygaard Eriksen1, Mads Markvart Kjær1, Martin Thyrsgaard2

1Aarhus University, Denmark; 2Kellogg School of Management, Northwestern University, United States of America

Discussant: Vitaly Orlov (University of St.Gallen)

2:00pm - 3:20pmRoom B: AP 4
Session Chair: Chi-Yang Tsou, Hong Kong University of Science and Technology

Learning and the Anatomy of the Profitability Premium

Chi-Yang Tsou

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

Discussant: Jiri Knesl (Said Business School, University of Oxford)

Momentum? What Momentum?

Can Yilanci, Erik Theissen

University of Mannheim, Germany

Discussant: Marco Grotteria (London Business School)

2:00pm - 3:20pmRoom C: BHF 3
Session Chair: Matthias Weber, University of St.Gallen

Inflation and Investors’ Behavior: Evidence from the German Hyperinflation

Fabio Braggion1, Felix von Meyerinck2, Nic Schaub3

1Tilburg University; 2University of St. Gallen; 3WHU - Otto Beisheim School of Management, Germany

Discussant: Oliver Spalt (University of Mannheim)

Waiting for the gain to come: How variance and skewness shape retail investors’ trading behavior

Sabine Bernard1, Benjamin Loos2, Martin Weber3

1University of Mannheim & Leibniz-Institut für Finanzmarktforschung SAFE, Germany; 2Technical University of Munich, Germany; 3University of Mannheim

Discussant: Matthias Weber (University of St.Gallen)

2:00pm - 3:20pmRoom D: CFG 3
Session Chair: Sebastian Gryglewicz, Erasmus University Rotterdam

Personal Taxes and Corporate Cash Holdings

Jens Dick-Nielsen, Kristian Miltersen, Ramona Westermann

Copenhagen Business School, Denmark

Discussant: Sebastian Gryglewicz (Erasmus University Rotterdam)

Direct democracy, corporate political strategy, and firm value

Ruediger Fahlenbrach1,2, Alexei Ovtchinnikov3, Philip Valta4

1Ecole Polytechnique Fédérale de Lausanne; 2Swiss Finance Institute; 3HEC Paris; 4University of Bern

Discussant: Felix Meschke (University of Kansas)

2:00pm - 3:20pmRoom E: FII 3
Session Chair: Falko Fecht, Frankfurt School of Finance & Management

Banks, Maturity Transformation, and Monetary Policy

Pascal Paul

Federal Reserve Bank of San Francisco, United States of America

Discussant: Falko Fecht (Frankfurt School of Finance & Management)

Bank Liquidity Provision Across the Firm Size Distribution

Olivier Darmouni1, Gabriel Chodorow-Reich2, Stephan Luck3, Matthew Plosser3

1Columbia University, United States of America; 2Harvard University, United States of America; 3Federal Reserve Bank of New York

Discussant: Felix Noth (Leibniz-Institut für Wirtschaftsforschung Halle)

3:30pm - 4:30pmRoom A: PHD1

Presentations of 20 minutes at: 3:30pm, 3:50pm, 4:10pm


Bond Implied Risks Around Macroeconomic Announcements

Xinyang Li

Boston University, United States of America

3:30pm - 4:30pmRoom B: PHD2

Presentations of 20 minutes at: 3:30pm, 3:50pm, 4:10pm


Do media follow up?

Sasan Mansouri

Goethe University Frankfurt am Main, Germany

3:30pm - 4:30pmRoom C: PHD3

Presentations of 20 minutes at: 3:30pm, 3:50pm, 4:10pm


Firm life-cycle in merges and acquisitions

Tina Oreski

Swiss Finance Institute and USI Lugano, Switzerland

3:30pm - 4:30pmRoom D: PHD4

Presentations of 20 minutes at: 3:30pm; 3:50pm; 4:10pm


CEO Turnover and Director Reputation

Felix von Meyerinck, Jonas Romer, Markus Schmid

University of St.Gallen (HSG), Switzerland

3:30pm - 4:30pmRoom E: PHD5

Presentations of 20 minutes at: 3:30pm, 3:50pm, 4:10pm


Does Working from Home Decrease Profitability and Productivity? Evidence from the Mutual Fund Industry

Han Xiao

Pennsylvania State University, United States of America

4:40pm - 6:00pmRoom A: AP 5
Session Chair: Christian Schlag, Goethe University Frankfurt am Main

Uncertainty trends and asset prices

Federico Bandi1, Lorenzo Bretscher2, Andrea Tamoni3

1Johns Hopkins University, United States of America; 2London Business School, United Kingdom; 3Rutgers University, United States of America

Discussant: Christian Schlag (Goethe University Frankfurt am Main)

Optimistic & pessimistic disagreement and the cross section of stock returns

Giuliano Curatola1,4, Ilya Dergunov3, Christian Schlag2,4

1University of Siena, Italy; 2Goethe University Frankfurt am Main, Germany; 3Australian National University, Australia; 4Leibniz Institute for Financial Research SAFE, Germany

Discussant: Darya Yuferova (Norwegian School of Economics)

4:40pm - 6:00pmRoom B: AP 6
Session Chair: Andrea Barbon, University of St.Gallen

Automation and the Displacement of Labor by Capital: Asset Pricing Theory and Empirical Evidence

Jiri Knesl

Said Business School, University of Oxford, United Kingdom

Discussant: Chi-Yang Tsou (Hong Kong University of Science and Technology)

Building Trust Takes Time: Limits to Arbitrage in Blockchain-Based Markets

Stefan Voigt1, Nikolaus Hautsch2, Christoph Scheuch3

1University of Copenhagen and Danish Finance Institute, Denmark; 2University of Vienna, Vienna Graduate School of Finance, Data Science at Uni Vienna, Austria; 3wikifolio Financial Technologies, Austria

Discussant: Andrea Barbon (University of St.Gallen)

4:40pm - 6:00pmRoom C: BHF 4
Session Chair: Christoph Merkle, Aarhus University

Are Investors Sensitive to Impact?

Florian Heeb1, Julian F. Kölbel1,2, Falko Paetzold3,1, Stefan Zeisberger4,1

1University of Zürich, Switzerland; 2MIT Sloan School of Management, United States of America; 3EBS University of Business and Law, Germany; 4Radboud University Institute for Management Research, The Netherlands

Discussant: Christoph Merkle (Aarhus University)

Sea Level Rise and Portfolio Choice

Emirhan Ilhan

Frankfurt School of Finance and Management, Germany

Discussant: Francois Koulischer (University of Luxembourg)

4:40pm - 6:00pmRoom D: CFG 4
Session Chair: Daniel Metzger, Erasmus University Rotterdam

Endogenous Operating Leverage: Foreign Labor Regulations and Firm Boundaries

Katie Moon2, Giorgo Sertsios1

1Universidad de los Andes, Chile; 2University of Colorado Boulder, United States of America

Discussant: Daniel Metzger (Erasmus University Rotterdam)

Pirates without Borders: the Propagation of Cyberattacks through Firms’ Supply Chains

Matteo Crosignani1, Marco Macchiavelli2, Andre Silva3

1Federal Reserve Bank of New York, United States of America; 2Board of Governors of the Federal Reserve System, United States of America; 3Board of Governors of the Federal Reserve System, United States of America

Discussant: Andreas Milidonis (University of Cyprus)

4:40pm - 6:00pmRoom E: FII 4
Session Chair: Alexander Braun, University of St.Gallen

Life insurance convexity

Christian Kubitza1, Nicolaus Grochola2, Helmut Gründl2

1University of Bonn, Germany; 2Goethe University Frankfurt am Main, Germany

Discussant: Hato Schmeiser (University of St.Gallen)

Internal Models, Make Believe Prices, and Bond Market Cornering

Ishita Sen1, Varun Sharma2

1Harvard Business School, United States of America; 2London Business School, United Kingdom

Discussant: Alexander Braun (University of St.Gallen)