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).

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Session Overview
Location: Room 102
Date: Tuesday, 28/May/2019
1:30pm - 3:15pm1.6: Hedge Funds
Session Chair: Burton Hollified, Carnegie Mellon University
Room 102 

Prime Broker Exposures, Collateral, and Resilience in Hedge Fund Credit Networks

Mathias S Kruttli2,4, Phillip J Monin3, Sumudu W Watugala1,4

1Cornell University, United States of America; 2Federal Reserve Board of Governors; 3Office of Financial Research, US Department of the Treasury; 4Oxford-Man Institute of Quantitative Finance, University of Oxford

Discussant: Chester Spatt (Carnegie Mellon University)

Unobserved Performance of Hedge Funds

Vikas Agarwal2, Stefan Ruenzi3, Florian Weigert1

1University of St. Gallen, Switzerland; 2Georgia State University; 3University of Mannheim

Discussant: Michael Gallmeyer (University of Virginia)

Skin or Skim? Inside Investment and Hedge Fund Performance

Kunal Sachdeva1, Arpit Gupta2

1Rice University, United States of America; 2New York University, United States of America

Discussant: Maria Chaderina (WU Vienna)

3:30pm - 5:45pm5.5: Regulation 1: Bank Regulation and Central Banks
Session Chair: Mark Jeffrey Flannery, University of Florida
Room 102 

Leverage Regulation and Market Structure: An Empirical Model Of The UK Mortgage Market

Matteo Benetton

Berkeley, United States of America

Discussant: Leming Lin (University of Pittsburgh)

Central Bank Communication and the Yield Curve

Matteo Leombroni1, Andrea Vedolin2, Gyuri Venter3, Paul Whelan3

1Stanford University; 2Boston University; 3Copenhagen Business School, Denmark

Discussant: Karlye Marissa Dilts Stedman (1985)

Supply of Private Safe Assets: Interplay of Shadow and Traditional Banks

Stefan Gissler, Borghan Nezami Narajabad

Federal Reserve Board of Governors, United States of America

Discussant: Joao Santos (Federal Reserve Bank of New York)

Discount Window Stigma and the Term Auction Facility

Yunzhi Hu1, Hanzhe Zhang2

1UNC Chapel Hill, United States of America; 2Michigan State University

Discussant: Oliver Armantier (federal reserve bank or new york)

Date: Wednesday, 29/May/2019
8:30am - 10:15am5.3: Bank Regulation, Supervision and Risk taking
Session Chair: Stijn Van Nieuwerburgh, Columbia University Graduate School of Business
Room 102 

Supra(National) Supervision

Rainer Haselmann1, Shikhar Singla2, Vikrant Vig2

1Goethe Univeristy / SAFE, Germany; 2London Buisness School

Discussant: Anna Kovner (New York Fed)

Bank Bailouts, Bail-ins, or No Regulatory Intervention? A Dynamic Model and Empirical Tests of Optimal Regulation

Raluca Roman1, Allen N. Berger2, Charles P. Himmelberg3, Sergey Tsyplakov4

1Federal Reserve Bank of Philadelpia, United States of America; 2University of South Carolina; 3Goldman Sachs; 4University of South Carolina

Discussant: Pabla D\'Erasmo (Federal Reserve Bank of Philadelphia)

The Effects of Capital Requirements on Good and Bad Risk-Taking

Roberto Robatto1, Aaron Pancost2

1University of Wisconsin-Madison, United States of America; 2University of Texas at Austin, McCombs School of Business.

Discussant: Kairong Xiao (Columbia Business School)

10:30am - 12:15pm3.6: Venture Capital 1: VCs, Rating Agencies and Investments
Session Chair: Francesca Cornelli, Northwestern, Kellogg School of Management
Room 102 

A Theory of Venture Capital Fund Size with Directed Search

Francesco Sannino

Frankfurt School of Finance & Management, Germany

Discussant: M. Deniz Yavuz (Purdue)

Venture Capital Contracts

Michael Ewens1, Alexander Gorbenko2, Arthur Korteweg3

1California Institute of Technology, United States of America; 2USC Marshall School of Business; 3USC Marshall School of Business

Discussant: Ilona Babenko (Arizona State University)

Credit Rating Agencies and Corporate Financing and Investment Decisions: An Unintended Consequence of the Dodd-Frank Act

Bina Sharma2, Binay K. Adhikari2, Anup Agrawal1, Bruno R. Arthur2, Monika K. Rabarison2

1University of Alabama, United States of America; 2University of Texas RGV, United States of America

Discussant: Jeongmin (Mina) Lee (Washington University in St. Louis)

2:00pm - 4:15pm4.6: Agency Problems and Contracting
Session Chair: Bruce Carlin, UCLA
Room 102 

Bank Bonus Pay as a Risk Sharing Contract

Matthias Efing1, Harald Hau2, Patrick Kampkoetter3, Jean-Charles Rochet2

1HEC Paris, France; 2Swiss Finance Institute; 3University of Tuebingen

Discussant: Brian Waters (University of Colorado, Boulder)

Optimal Agents

Jan Starmans

Stockholm School of Economics, Sweden

Discussant: Naveen Khanna (Michigan State University)

Weak Credit Covenants

Victoria Ivashina, Boris Vallée

Harvard Business School, United States of America

Discussant: Jonathan Cohn (University of Texas-Austin)

Agency in Intangibles

Colin Ward

University of Minnesota, United States of America

Discussant: Mahyar Kargar (UCLA Anderson)

Date: Thursday, 30/May/2019
8:30am - 10:15am8.2: Regulation 3: Competition, Supervision and Bank lending
Session Chair: Paolo Fulghieri, UNC
Room 102 

“Inspect What You Expect To Get Respect?” Can Bank Supervision Kill Zombie Lending?

Diana Bonfim1, Geraldo Cerqueiro2, Hans Degryse3, Steven Ongena4

1Banco de Portugal, Portugal; 2Católica Lisbon SBE, Portugal; 3KU Leuven; 4University of Zurich

Discussant: Carola Schenone (University of Virginia)

The Effects of Competition in Consumer Credit Markets

Stefan Gissler2, Rodney Ramcharan3, Edison Yu1

1Federal Reserve Bank of Philadelphia, United States of America; 2Federal Reserve Board of Governors; 3University Southern California

Discussant: David Sovich (Wash U Olin)

Shocked by Bank Funding Shocks: Evidence from Consumer Credit Cards

Sudheer Chava1, Rohan Ganduri2, Nikhil Paradkar1, Linghang Zeng1

1Georgia Institute of Technology, United States of America; 2Emory University, United States of America

Discussant: Sean Higgins (UC Berkley)

10:30am - 12:15pm6.3: Executive Incentives
Session Chair: Vojislav Maksimovic, University of Maryland
Room 102 
10:30am - 11:00am

Incentives and Competition in the Airline Industry

Rajesh K. Aggarwal1, Carola Schenone2

1Northeastern University, United States of America; 2University of Virginia, United States of America

Discussant: Leonardo Gambacorta (Bank for International Settlements)

11:00am - 11:30am

Executive Mobility in the United States, 1920 to 2011

John Graham2, Dawoon Kim1, Hyunseob Kim1

1Cornell Univesity, United States of America; 2Duke Univesity, United States of America

Discussant: Liu Yang (University of Maryland)

11:30am - 12:00pm

Monitor Reputation and Transparency

Ivan Marinovic1, Martin Szydlowski2

1Stanford GSB; 2University of Minnesota, United States of America

Discussant: Thomas Chemmanur (Boston College)

2:00pm - 4:15pm3.4: Regulation 4: Bank Regulation and Financial Stability
Session Chair: Gregory F. Udell, Indiana University
Room 102 

The Effects of Banking Competition on Growth and Financial Stability: Evidence from the National Banking Era

Sergio Correia1, Mark Carlson1, Stephan Luck2

1Federal Reserve Board, United States of America; 2Federal Reserve Bank of New York

Discussant: Richard Rosen (Federal Reserve Bank of Chicago)

The Procyclicality of Expected Credit Loss Provisions

Jorge Abad, Javier Suarez

CEMFI, Spain

Discussant: Lars Norden (Getulio Vargas Foundation)

Financial Regulation: What the Finance Industry Wants and How it Gets it

Thomas Mosk1, Renée Adams2

1Goethe University, Germany; 2University of Oxford, UK

Discussant: Teng Wang (Board of Governors of the Federal Reserve)

Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

Aytekin Ertan1, Anya Kleymenova2, Marcel Tuijn3

1London Business School; 2University of Chicago Booth School of Business, United States of America; 3University of Notre Dame and Rotterdam School of Management, Erasmus University

Discussant: Stephane Verani (Federal Reserve Board)


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Conference: FIRS 2019
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