Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 26th May 2022, 10:37:09am CEST

 
 
Session Overview
Date: Thursday, 07/Apr/2022
1:45pm
-
2:00pm
Zoom Welcome Desk opens
2:00pm
-
3:20pm
Breakout Room A: E-AP I
Chair: Florian Weigert, University of Neuchâtel
 

Return Expectations and Portfolios: Evidence from Large Asset Managers

Magnus Dahlquist1, Markus Ibert2

1: Stockholm School of Economics, Sweden; 2: Board of Governors of the Federal Reserve System, United States of America

Discussant: Florian Weigert (University of Neuchâtel)



Growth Expectations out of WACC

Petri Jylhä, Michael Ungeheuer

Aalto University School of Business, Finland

Discussant: Marc Arnold (University of St.Gallen)

Breakout Room B: FMG-MM I
Chair: Andrea Barbon, University of St.Gallen
 

Centrality in OTC Markets, Liquidity Provision, and Prices

Vincent Skiera

Haas School of Business, University of California, United States of America

Discussant: Andrea Barbon (University of St.Gallen)



Dealer Networks and the Cost of Immediacy

Jens Dick-Nielsen1, Thomas Kjær Poulsen2, Obaidur Rehman2

1: Copenhagen Business School; 2: BI Norwegian Business School

Discussant: Vincent Skiera (University of California, Berkeley)

Breakout Room C: BHF I
Chair: Antonio Gargano, University of Houston
 

Cooling Auction Fever: Evidence from the Housing Market

Antonio Gargano1, Marco Giacoletti2

1: University of Houston, United States of America; 2: University of Southern California, United States of America

Discussant: Taha Ahsin (Duke University)



Should Retail Investors Listen to Social Media Analysts? Evidence from Text-Implied Beliefs

Chukwuma Dim

Frankfurt School of Finance & Management, Germany

Discussant: Nils Jonathan Krakow (University of Zurich)

Breakout Room D: CFG I
Chair: Ernst Maug, University of Mannheim
 

Share Issues versus Share Repurchases

Philip Bond1, Yue Yuan2, Hongda Zhong3

1: University of Washington, United States of America; 2: Tsinghua University, China; 3: London School of Economics, United Kingdom

Discussant: Ernst Maug (University of Mannheim)



Post-merger Restructuring of the Labor Force

Britta Gehrke1, Ernst Maug2, Stefan Obernberger3, Christoph Schneider4

1: University of Rostock, Germany; 2: University of Mannheim, Germany; 3: Erasmus University Rotterdam, The Netherlands; 4: University of Münster, Germany

Discussant: Linus Siming (Free University of Bozen-Bolzano)

Breakout Room E: FII I
Chair: Alessandro Diego Scopelliti, KU Leuven, ECB and Univ. Zurich
 

Credit Fire Sales: Captive Lending as Liquidity in Distress

Matteo Benetton1, Sergio Mayordomo2, Daniel Paravisini3

1: Haas School of Business, University of California, United States of America; 2: Bank of Spain; 3: London School of Economics, United Kingdom

Discussant: Alessandro Diego Scopelliti (KU Leuven, ECB and Univ. Zurich)



Zombie Lending and Policy Traps

Viral Acharya, Simone Lenzu, Olivier Wang

New York University, Stern School of Business

Discussant: Razvan Vlahu (Dutch Central Bank)

3:40pm
-
4:20pm
Breakout Room F: PHD I
 

Not Just a Seat at the Table? The Impact of Female Directors' Inclusion on Firm Performance

Mennatallah Balbaa, Désirée-Jessica Pély

LMU Munich, Germany



Nature as a Defense from Disasters: Natural Capital and Municipal Bond Yields

Claudio Rizzi

University of Miami, United States of America

4:40pm
-
6:00pm
Breakout Room A: E-AP II
Chair: Hugues Langlois, HEC Paris
 

Asset Pricing Implications of the Mismatch Between Performance Window and Benchmark Duration

Idan Hodor1, Fernando Zapatero2

1: Monash University, Australia; 2: Boston University, United States of America

Discussant: Heiner Beckmeyer (University of Muenster)



Asset Allocation and Liquidity in Response to a Risk Shock

Stefan Voigt1, Albert J. Menkveld2, Nikolaus Hautsch3

1: København Universitet, Denmark and Danish Finance Institute; 2: VU Amsterdam, The Netherlands; 3: University of Vienna, Austria

Discussant: Hugues Langlois (HEC Paris)

Breakout Room B: FMG - IF I
Chair: Christoph Meinerding, Deutsche Bundesbank
 

Concealed Carry

Spencer Andrews1, Ric Colacito1, Max Croce2, Federico Gavazzoni3

1: University of North Carolina at Chapel Hill; 2: Bocconi University; 3: BI Norwegian Business School

Discussant: Christoph Meinerding (Deutsche Bundesbank)



FX Liquidity Risk and Carry Trade Premia

Paul Söderlind, Fabricius Somogyi

University of St.Gallen, Switzerland

Discussant: Ramin Hassan (University of Minnesota)

Breakout Room C: BHF II
Chair: Matthias Weber, University of St. Gallen
 

Fund manager narcissism

Anna-Lena Bauer, Dominik Scheld, Oscar A. Stolper

University of Marburg, Germany

Discussant: Sabine Bernard (Leibniz Institute for Financial Research SAFE)



Asset Pricing In a World of Imperfect Foresight

Peter Bossaerts1, Felix Fattinger2, Frans van den Bogaerde3, Wenhao Yang4

1: University of Melbourne and University of Cambridge; 2: Vienna University of Economics and Business; 3: FM Investors; 4: Chinese University of Hong Kong

Discussant: Matthias Weber (University of St. Gallen)

Breakout Room D: CFG II
Chair: Miriam Schwartz-Ziv, Hebrew University of Jerusalem
 

The Voting Premium

Doron Levit1,4, Nadya Malenko1,3,5, Ernst Maug1,2

1: European Corporate Governance Institute (ECGI), Belgium; 2: University of Mannheim, Germany; 3: University of Michigan, United States of America; 4: University of Washington, United States of America; 5: CEPR, United Kingdom

Discussant: Miriam Schwartz-Ziv (Hebrew University of Jerusalem)



Which Firms Require More Governance? Evidence from Mutual Funds' Revealed Preferences

Irene Yi

University of Toronto, Canada

Discussant: Nataliya Gerasimova (Norwegian School of Economics)

Breakout Room E: FII II
Chair: Mancy Luo, Erasmus University
 

Social Inflation

Sangmin Oh

University of Chicago Booth School of Business, United States of America

Discussant: Alexandru Barbu (London Business School)



Why is there so much side-by-side management in the ETF industry?

Mancy Luo1, David Schumacher2

1: Erasmus University Rotterdam; 2: McGill University, Canada

Discussant: Nic Schaub (WHU – Otto Beisheim School of Management)

Date: Friday, 08/Apr/2022
1:45pm
-
2:00pm
Zoom Welcome Desk opens
2:00pm
-
3:20pm
Breakout Room A: E-AP III
Chair: George Skiadopoulos, Queen Mary University of London, UK, and University of Piraeus, Greece
 

Decrypting the Digital Economy: The Digital Alpha and Its Origins

Mingyi Hua

HEC Paris, France

Discussant: Vitaly Orlov (University of St. Gallen)



Climate Change Exposure and Stock Return Predictability

Cheng Sun, Jiangmin Xu, Yihui You

Peking University, China

Discussant: George Skiadopoulos (Queen Mary University of London, UK, and University of Piraeus, Greece)

Breakout Room B: T-AP I
Chair: Fabricius Somogyi, University of St.Gallen
 

The Asset Durability Premium

Kai Li1, Chi-Yang Tsou2

1: Peking University, China; 2: University of Manchester, United Kingdom

Discussant: Simon Stehle (University of Konstanz)



Earnings growth uncertainty and the cross-section of equity valuation

Ella D.S. Patelli

HEC Montréal, Canada

Discussant: Fabricius Somogyi (University of St.Gallen)

Breakout Room C: BHF III
Chair: Lorenz Kueng, Università della Svizzera Italiana (USI)
 

Household Leverage and Labor Market Outcomes: Evidence from a Macroprudential Mortgage Restriction

Gazi Kabas1, Kasper Roszbach2

1: University of Zurich & Swiss Finance Institute, Switzerland; 2: Norges Bank & University of Groningen

Discussant: Karolin Kirschenmann (ZEW)



How Do Retail Investors Respond to the Zero Lower Bound?

Alexander Schandlbauer1, Steffen Meyer1, Charline Uhr1, Michaela Pagel2

1: University of Southern Denmark; 2: Columbia Business School, United States of America

Discussant: Lorenz Kueng (University of Lugano (USI), Swiss Finance Institute (SFI), and CEPR)

Breakout Room D: CFG III
Chair: Alminas Zaldokas, HKUST
 

Competition and the Reputational Costs of Litigation

Felix von Meyerinck1, Vesa Pursiainen2, Markus Schmid2

1: Tilburg University, The Netherlands; 2: University of St.Gallen, Switzerland

Discussant: Alminas Zaldokas (HKUST)



Information Complementarities and the Dynamics of Transparency Shock Spillovers

Shantanu Banerjee1, Sudipto Dasgupta2, Rui Shi2, Jiali Yan3

1: Lancaster University, United Kingdom; 2: Chinese University of Hong Kong; 3: The University of Liverpool, United Kingdom

Discussant: Christoph Sextroh (Tilburg School of Economics and Management)

Breakout Room E: FII III
Chair: Sebastian Doerr, Bank for International Settlements
 

Intermediary-Based Loan Pricing

Pierre Mabille1, Olivier Wang2

1: INSEAD, France; 2: NYU Stern, United States of America

Discussant: Sebastian Doerr (Bank for International Settlements)



"There is no Planet B" but for Banks There are "Countries B to Z": Domestic Climate Policy and Cross-Border Bank Lending

Emanuela Benincasa1, Gazi Kabaş1, Steven Ongena1,2

1: University of Zurich and Swiss Finance Institute; 2: KU Leuven, NTNU and CEPR

Discussant: Ralph de Haas (EBRD and KU Leuven)

3:40pm
-
4:20pm
Breakout Room F: PHD II
 

Bank Specialization and the Design of Loan Contracts

Marco Giometti1, Stefano Pietrosanti2

1: The Wharton School, University of Pennsylvania, United States of America; 2: Bank of Italy



Mental Accounting and the Marginal Propensity to Consume

René Bernard1,2

1: Deutsche Bundesbank, Germany; 2: Goethe University, Frankfurt am Main

4:40pm
-
6:00pm
Breakout Room A: E-AP IV
Chair: Jasmin Gider, Tilburg University
 

Market Impact of Government Communication: The Case of Presidential Tweets

Farshid Abdi1, Emily Kormanyos2,3, Loriana Pelizzon2,3,4, Mila Getmansky Sherman1, Zorka Simon2

1: Isenberg School of Management, UMass Amherst; 2: Leibniz Institute for Financial Research SAFE; 3: Goethe University Frankfurt am Main; 4: Ca’ Foscari University of Venice and CEPR

Discussant: Jasmin Gider (Tilburg University)



Political Voice and (Mortgage) Market Participation: Evidence from Minority Disenfranchisement

Seongjin Park1, Arkodipta Sarkar2, Nishant Vats1

1: Haas School of Business, University of California, Berkeley, United States of America; 2: Hong Kong University of Science and Technology, Hong Kong S.A.R. (China)

Discussant: Brent Ambrose (Penn State Smeall College of Business)

Breakout Room B: AP-Derivatives
Chair: Jens H. E. Christensen, Federal Reserve Bank of San Francisco
 

Market-Maker Supply and Investor Demand for SPX Options: A VAR Approach

Paola Pederzoli, Kris Jacobs, Anh Thu Mai

University of Houston, United States of America

Discussant: Nicole Branger (Westfälische Wilhelms-Universität Münster)



Pricing Event Risk: Evidence from Concave Implied Volatility Curves

Lykourgos Alexiou1, Amit Goyal2, Alexandros Kostakis1, Leonidas Rompolis3

1: University of Liverpool, United Kingdom; 2: Swiss Finance Institute, University of Lausanne; 3: Athens University of Economics and Business, Greece

Discussant: Jens H. E. Christensen (Federal Reserve Bank of San Francisco)

Breakout Room C: BHF IV
Chair: Michael Reher, University of California San Diego, Rady School of Management
 

Good Peers, Good Apples: Peer Effects Lead to Better Financial Outcomes

Claes Backman1, Olga Balakina1, Andreas Hackethal2, Tobin Hanspal3, Dominique Lammer4

1: Aarhus University, Denmark; 2: Goethe University Frankfurt am Main and Leibniz Institute for Financial Research SAFE; 3: Vienna University of Economics and Business; 4: Independent

Discussant: Michael Reher (University of California San Diego, Rady School of Management)



Personal Inflation Experience and Households’ Choices

Christoph Basten1,2,3, Merike Kukk4,5, Jan Toczynski1,6

1: University of Zurich, Switzerland; 2: Swiss Finance Institute; 3: CESifo, Germany; 4: Bank of Estonia; 5: Tallinn University of Technology, Estonia; 6: Swiss Finance Institute

Discussant: Melina Murren Vosse (University of Miami)

Breakout Room D: CFG IV
Chair: Alexander Wagner, University of Zurich
 

Did Western CEO Incentives Contribute to China’s Technological Rise?

Bo Bian1, Jean-Marie Meier2

1: University of British Columbia, Canada; 2: University of Texas at Dallas, United States of America

Discussant: Fangyuan Ma (Peking University HSBC Business School)



Temporal Focus in Earnings Conference Calls

Ming Deng1,2, Michal Dzielinski3, Alexander F. Wagner1,2,4,5

1: University of Zurich, Switzerland; 2: Swiss Finance Institute; 3: Stockholm University, Sweden; 4: CEPR, United Kingdom; 5: European Corporate Governance Institute (ECGI), Belgium

Discussant: Roxana Mihet (HEC Lausanne & SFI)

Breakout Room E: FII IV
Chair: Anastasia Kartasheva, University of St Gallen
 

Data and Welfare in Credit Markets

Mark Jansen1, Fabian Nagel2, Constantine Yannelis2, Anthony Lee Zhang2

1: University of Utah, David Eccles School of Business; 2: University of Chicago Booth School of Business, United States of America

Discussant: Andreas Fuster (EPFL)



Tiers of Joy? Reserve Tiering and Bank Behavior in a Negative-Rate Environment

Andreas Fuster1, Tan Schelling2, Pascal Towbin2

1: EPFL, Swiss Finance Institute and CEPR; 2: Swiss National Bank

Discussant: Anastasia Kartasheva (University of St Gallen)


 
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