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 105
Date: Tuesday, 28/May/2019
1:30pm - 3:15pm2.3: Generating and Interpreting Information
Session Chair: Kristine Hankins, University of Kentucky
Room 105 

Textual Factors: A Scalable, Interpretable, and Data-driven Approach to Analyzing Unstructured Information

Lin Cong, Tengyuan Liang, Xiao Zhang

The University of Chicago, United States of America

Discussant: J. Anthony Cookson (University of Colorado-Boulder)

Cong-Textual Factors-1100.pdf

Information Monopolies and Monetary Policy Pass-through

Charles O'Donnell1,3, Fergal McCann2

1European Central Bank, Germany; 2Central Bank of Ireland; 3Aix-Marseille School of Economics

Discussant: Pat Akey (University of Toronto)

ODonnell-Information Monopolies and Monetary Policy Pass-through-971.pdf

Operational Risk is More Systemic than You Think: Evidence from U.S. Bank Holding Companies

Atanas Mihov1, Allen Berger2, Filippo Curti1, John Sedunov3

1Federal Reserve Bank of Richmond, United States of America; 2University of South Carolina, United States of America; 3Villanova University, United States of America

Discussant: Christophe Perignon (HEC Paris)

Mihov-Operational Risk is More Systemic than You Think-201.pdf
3:30pm - 5:45pm6.1: Politics, Crime and Economics
Session Chair: alexander dyck, University of Toronto
Room 105 

Do Political Boundaries affect Firm Boundaries?

Matthew Denes1, Florian Schulz2, Vikrant Vig3

1Carnegie Mellon University; 2University of Washington; 3London Business School

Discussant: Brett Myers (Texas Tech University)

Denes-Do Political Boundaries affect Firm Boundaries-889.pdf

Executives in Politics

Ilona Babenko1, Viktar Fedaseyeu2, Song Zhang3

1Arizona State University, United States of America; 2Bocconi University; 3Boston College

Discussant: Nandini Gupta (Indiana University)

Babenko-Executives in Politics-969.pdf

Organized Crime and Firms: Evidence from Italy

Pablo Slutzky1, Stefan Zeume2

1University of Maryland, United States of America; 2University of Michigan, United States of America

Discussant: Julian Atanassov (University of Nebraska)

Slutzky-Organized Crime and Firms-410.pdf

Who Benefits from the Decline of American Manufacturing? Evidence from 142,663 Foreign and Domestic Entries in China

Minwen Li3, Tanakorn Makaew2, Vojislav Maksimovic1

1University of Maryland; 2SEC, United States of America; 3Tsinghua University

Discussant: Jim Goldman (University of Toronto)

Li-Who Benefits from the Decline of American Manufacturing Evidence from 142,663 Foreign and Domestic.pdf
Date: Wednesday, 29/May/2019
8:30am - 10:15am2.5: Financial and Lending Networks
Session Chair: Uday Rajan, University of Michigan
Room 105 

Financial Networks over the Business Cycle

Alexandr Kopytov

Wharton, United States of America

Discussant: Ana Babus (Washington University in St. Louis)

Kopytov-Financial Networks over the Business Cycle-463.pdf

Bitcoin as Decentralized Money: Prices, Mining, and Network Security

Emiliano Pagnotta

Imperial College Business School, United Kingdom

Discussant: Jiasun Li (George Mason University)

Pagnotta-Bitcoin as Decentralized Money-918.pdf

Credit Market Spillovers: Evidence from a Syndicated Loan Market Network

Abhimanyu Gupta1, Sotirios Kokas2, Alex Michaelides3

1University of Essex; 2University of Glasgow; 3Imperial, United Kingdom

Discussant: Yiming Ma (Columbia Business School)

Gupta-Credit Market Spillovers-293.pdf
10:30am - 12:15pm3.5: Valuation Risk, Systemic Risk and Financial Distress
Session Chair: Yaron Leitner, Washington University
Room 105 

Do Firms Hedge During Distress?

Heitor Almeida2, Kristine Hankins3, Ryan Williams1

1University of Arizona; 2University of Illinois - Urbana Champaign; 3University of Kentucky

Discussant: Erik Gilje (The Wharton School, University of Pennsylvania)

Almeida-Do Firms Hedge During Distress-976.pdf

Insurers as Asset Managers and Systemic Risk

Andrew Ellul2, Chotibhak Jotikasthira1, Anastasia Kartasheva3, Lundblad Christian4, Wagner Wolf5

1SMU - Cox School of Business; 2Indiana University; 3Bank for International Settlements; 4University of North Carolina at Chapel Hill; 5Rotterdam School of Management

Discussant: Nathan Foley-Fisher (Federal Reserve Board)

Ellul-Insurers as Asset Managers and Systemic Risk-848.pdf

Assessing Valuation Risk: Theory and Empirical Evidence

Samuel Kruger

University of Texas at Austin, United States of America

Discussant: Thomas Maurer (Washington University in St. Louis)

Kruger-Assessing Valuation Risk-1038.pdf
2:00pm - 4:15pm4.2: Bank Deposits, Capital and Decisionmaking
Session Chair: Franco Fiordelisi, University of Rome III
Room 105 

Bank Transparency and Deposit Flows

Qi Chen1, Itay Goldstein2, Zeqiong Huang3, Rahul Vashishtha1

1Duke University; 2University of Pennsylvania, The Wharton School; 3Yale University

Discussant: Laura Blattner (Stanford Graduate School of Business)

Chen-Bank Transparency and Deposit Flows-932.pdf

Decision-making Delegation in Banks

Jennifer Dlugosz1, Yong Kyu Gam2, Radha Gopalan1, Janis Skrastins1

1Washington University in St. Louis; 2Southwestern University of Finance and Economics

Discussant: Kristian Blickle (Federal Reserve Bank of New York)

Dlugosz-Decision-making Delegation in Banks-1112.pdf

Bank Concentration and Product Market Competition

Farzad Saidi1, Daniel Streitz2

1Stockholm School of Economics, CEPR; 2Copenhagen Business School

Discussant: Andrea Presbitero (International Monetary Fund)

Saidi-Bank Concentration and Product Market Competition-465.pdf

The Interdependence of Bank Capital and Liquidity

Elena Carletti1, Itay Goldstein2, Agnese Leonello3

1Bocconi University; 2University of Pennsylvania; 3European Central Bank

Discussant: Ye Li (The Ohio State University)

Carletti-The Interdependence of Bank Capital and Liquidity-905.pdf
Date: Thursday, 30/May/2019
8:30am - 10:15am7.6: Financial Advisors and Investment Consultants
Session Chair: Justin Murfin, CORNELL
Room 105 

Unlocking Clients

Umit G. Gurun1, Noah Stoffman3, Scott E. Yonker2

1University of Texas at Dallas; 2Cornell University; 3Indiana University

Discussant: Jonathan Reuter (Boston College)

Gurun-Unlocking Clients-1036.pdf

Real Estate Shocks and Financial Advisor Misconduct

Stephen Dimmock2, William Gerken1, Tyson Van Alfen1

1University of Kentucky, United States of America; 2Nanyang Technological University

Discussant: Jawad Addoum (Cornell University)

Dimmock-Real Estate Shocks and Financial Advisor Misconduct-474.pdf

Investment Consultants’ Claims About Their Own Performance: What Lies Beneath?

Howard Jones1, Tim Jenkinson1, Gordon Cookson2, Jose Martinez3

1University of Oxford, United Kingdom; 2Financial Conduct Authority, United Kingdom; 3University of Connecticut, United States

Discussant: Ryan Pratt (Brigham Young University)

Jones-Investment Consultants’ Claims About Their Own Performance-218.pdf
10:30am - 12:15pm8.6: Information and Learning
Session Chair: Olivier Darmouni, Columbia university
Room 105 

Learning by Doing: Judge Experience and Bankruptcy Outcomes

Benjamin Iverson1, Joshua Madsen2, Wei Wang3, Qiping Xu4

1Brigham Young University;; 3Queen's University; 4University of Notre Dame, United States of America

Discussant: Karsten Müller (Princeton University)

Iverson-Learning by Doing-567.pdf

Learning by Owning in a Lemons Market

Brian Waters1, Jordan Martel2, Kenneth Mirkin3

1University of Colorado, Boulder; 2Indiana University, Bloomington; 3The University of Edinburgh

Discussant: Matthew Botsch (Bowdoin College)

Waters-Learning by Owning in a Lemons Market-1120.pdf

Weeding out Bad Loans: Externalities of the Opioid Crisis

Mark Jansen

University of Utah, United States of America

Discussant: Ankit Kalda (Indiana University)

Jansen-Weeding out Bad Loans-984.pdf
2:00pm - 4:15pm6.5: Market Trading and Microstructure 1
Session Chair: Giovanni Dell’Ariccia, IMF
Room 105 

Market-making with Search and Information Frictions

Venky Venkateswaran1, Benjamin Lester2, Ali Shourideh3, Ariel Zetlin-Jones3

1NYU Stern School of Business, Feseral Reserve Bank of Minneapolis; 2Feseral Reserve Bank of Philadelphia; 3Carnegie Mellon University

Discussant: Yaron Leitner (Washington University)

Venkateswaran-Market-making with Search and Information Frictions-120.pdf

Trade with Ads

Vivian Fang, Joshua Madsen, Xinyuan Shao

University of Minnesota, United States of America

Discussant: Andrea Presbitero (International Monetary Fund)

Fang-Trade with Ads-871.pdf

Identifying Price Informativeness

Eduardo Davila2, Cecilia Parlatore1

1NYU Stern, United States of America; 2Yale University/New York University, Stern School of Business, and NBER

Discussant: Guofu Zhou (Washington University in St. Louis)

Davila-Identifying Price Informativeness-190.pdf

Institutional Counterparties and Performance

Ozgur Ince1, Greg Kadlec2, Steve McKeon3

1University of South Carolina, United States of America; 2Virginia Tech; 3University of Oregon

Discussant: Peter Haslag (Vanderbilt University)

Ince-Institutional Counterparties and Performance-790.pdf

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