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 |
| Date: Wednesday, 29/May/2024 | ||||
| 9:30am - 6:00pm | Conference Registration Location: Gartenlounge | |||
| 1:30pm - 3:15pm | 1.1: Consequences of Market Intervention Location: Tiergarten Session Chair: Viral Acharya, New York University Stern School of Business | |||
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Voters, Bailouts, and the Size of the Firm Olin Business School Washington University in St Louis, United States of America
When Should Governments Buy Assets? 1University of Texas at Austin, United States of America; 2University of Texas at Austin, United States of America
Bailout Addiction: Does Bailout Anticipation Induce Adverse Selection? 1Pennsylvania State University, United States of America; 2Washington University in St. Louis, United States of America
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| 1:30pm - 3:15pm | 1.2: Corporate Investment and Financial Frictions Location: Köpenick Session Chair: Lukas Schmid, USC Marshall School of Business | |||
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Precautionary Debt Capacity 1Washington University in St. Louis, Olin Business School; 2Harvard Business School
Identifying Firm-Level Financial Frictions using Theory-Informed Restrictions UPF, Spain
Investing in Misallocation USC Marshall School of Business, United States of America
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| 1:30pm - 3:15pm | 1.3: Incentives of Central Bankers and Regulators Location: Charlottenburg I Session Chair: Enrico Perotti, University of Amsterdam | |||
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The Reverse Revolving Door in the Supervision of European Banks 1Ca' Foscari University of Venice, Italy; 2Halle Institute for Economic Research, Germany; 3Otto-von-Guericke University Magdeburg; 4University of Verona
The Political Economy of Financial Regulation 1Goethe University Frankfurt; 2National University of Singapore; 3Stanford University
The Value of Private Meetings with Central Bankers 1Goethe University Frankfurt, Germany; 2Chicago Booth
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| 1:30pm - 3:15pm | 1.4: Asset Pricing with Heterogeneity and Subjective Beliefs Location: Charlottenburg II Session Chair: Raman Uppal, EDHEC Business School | |||
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Asset Prices, Wealth Inequality, and Taxation 1London Business School; 2London School of Economics, United Kingdom
Economic Growth Through Diversity in Beliefs 1Texas A&M University, United States of America; 2London Business School; 3BI Oslo
Risk Premia, Subjective Beliefs, and Bundled Monetary Shocks Duke University, United States of America
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| 1:30pm - 3:15pm | 1.5: Financial Decisions of Households Location: Charlottenburg III Session Chair: Margarita Tsoutsoura, Washington University | |||
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Stock Market Wealth and Entrepreneurship 1Harvard University; 2Norges Bank; 3BI Norwegian Business School; 4Yale University
The Banker in Your Social Network 1Aalto University; 2University of Amsterdam
(Not) Anticipating Predictable Inheritances 1Aalto University School of Business; 2VATT Institute for Economic Research
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| 1:30pm - 3:15pm | 1.6: Financing Clean Vehicles Location: Schöneberg Session Chair: Effi Benmelech, Northwestern University | |||
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Financing the Global Shift to Electric Mobility 1University of British Columbia, Canada; 2The Wharton School
Auto Finance in the Electric Vehicle Transition 1Federal Reserve Board; 2UC-Berkeley
Do ESG Investors Care About Carbon Emissions? Evidence From Securitized Auto Loans Stanford GSB, United States of America
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| 1:30pm - 3:15pm | 1.7: PhD Session 1: Intermediaries and Pricing Location: Tegel Session Chair: Elena Loutskina, UVA | |||
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The Flattening Demand Curves Bocconi University, Italy Disentangling the Loan Premium: The Value of Bank Lending Copenhagen Business School, Denmark Monetary Policy Complementarity: Bank Regulation and the Term Premium Columbia Business School, United States of America | |||
| 3:15pm - 3:30pm | Coffee Break Location: Gartenlounge | |||
| 3:30pm - 5:15pm | 2.1: Data Use by Banks and FinTechs Location: Tiergarten Session Chair: S "Vish" Viswanathan, Duke University | |||
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Fintech Disruption, Banks, and Credit (Dis-)Intermediation: When Do Foes Become Friends? 1UNC Kenan-Flagler Business School; 2American University - Kogod School of Business
Information Span in Credit Market Competition 1Texas A&M University; 2Stanford University; 3New York University
The Limits of Big Data in Credit Markets 1Hong Kong University of Science and Technology, Hong Kong S.A.R. (China); 2University of Michigan
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| 3:30pm - 5:15pm | 2.2: Pricing of Corporate Bond and ABS Characteristics Location: Köpenick Session Chair: Andrew Winton, University of Minnesota | |||
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Textual Disclosure in Prospectuses and Investors’ Security Pricing 1University of Münster, Germany; 2University of Paderborn, Germany; 3University of Zurich, Switzerland; 4SFI; 5KU Leuven; 6NTNU Business School; 7CEPR
Heterogeneous Intermediaries and Bond Characteristics in the Transmission of Monetary Policy 1Boston College, United States of America; 2ECB
Financially Sophisticated Firms MIT SLOAN SCHOOL OF MANAGEMENT, United States of America
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| 3:30pm - 5:15pm | 2.3: Bank Assets Location: Charlottenburg I Session Chair: Jan P. Krahnen, SAFE, Goethe University Frankfurt | |||
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Failing Banks 1Board of Governors of the Federal Reserve System; 2Federal Reserve Bank of New York; 3MIT
Monetary Transmission through Bank Securities Portfolios 1New York University; 2Board of Governors of the Federal Reserve; 3Federal Reserve Bank of San Francisco
The Secular Decline in Interest Rates and the Rise of Shadow Banks New York University
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| 3:30pm - 5:15pm | 2.4: Factors in Bond and Equity Returns Location: Charlottenburg II Session Chair: Svetlana Bryzgalova, London Business School | |||
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Does Peer-Reviewed Research Help Predict Stock Returns? 1Federal Reserve Board; 2University of Florida; 3University of Cologne
The Corporate Bond Factor Zoo 1University of New South Waes, Australia; 2London School of Economics, United Kingdom; 3Universisty of Warwick, United Kingdom
Corporate Bond Factors: Replication Failures and a New Framework Copenhagen Business School, Denmark
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| 3:30pm - 5:15pm | 2.5: Student Loans and Entrepreneurship Location: Charlottenburg III Session Chair: Merih Sevilir, ESMT-Berlin and Halle Institute for Economic Research (IWH), ECGI | |||
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The Effects of the QSBS Exemption on Entrepreneurship and Innovation 1Renmin University of China; 2University of Illinois Chicago
Labor Market Polarization and Student Debt 1University of Virginia; 2University of Chicago
The Effect of Student Loans on Entrepreneurial Firm Risk-taking, Performance, and Access to Venture Capital with Implications for the Biden Administration's Student Loan Forgiveness Program 1University of Ottawa, Canada; 2Boston college; 3Northeastern University; 4University of South Florida
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| 3:30pm - 5:15pm | 2.6: Climate Concerns of Households and Analysts Location: Schöneberg Session Chair: Mariassunta Giannetti, Stockholm School of Economics | |||
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Household Climate Finance: Theory and Survey Data on Safe and Risky Green Assets 1Deutsche Bundesbank; 2Stanford University
Fighting Climate Change with FinTech 1University of Houston; 2Georgetown University
Climate Value and Values Discovery in Earnings Calls 1University of Zurich and Swiss Finance Institute; 2Frankfurt School of Finance & Management; 3Frankfurt School of Finance & Management; 4Shanghai University of Finance and Economics
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| 3:30pm - 5:15pm | 2.7: PhD Session 2: Climate Risks and Effects of IPOs Location: Tegel Session Chair: Martin Oehmke, London School of Economics | |||
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What Drives Beliefs about Climate Risks? Evidence from Financial Analysts Imperial College London, United Kingdom Climate Risk and Contract Completeness: Evidence from Corporate Real Estate Leases Pennsylvania State University, United States of America The Silicon Divide: High-Technology IPOs and the Widening Socioeconomic Gap University of Oxford, United Kingdom | |||
| 6:00pm - 8:00pm | Elsevier-Sponsored Welcome Reception Location: Hugos 360° | |||
| Date: Thursday, 30/May/2024 | ||||
| 7:30am - 8:30am | Breakfast Buffet - for participants staying at the InterContinental Hotel under FIRS room block Location: L.A. Café | |||
| 7:30am - 12:30pm | Conference Registration Location: Gartenlounge | |||
| 8:30am - 10:15am | 3.1: Voting and Trading Location: Tiergarten Session Chair: Alon Brav, Duke University | |||
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Bankruptcy Law and the Market for Corporate Influence 1London School of Economics and Political Science; 2University of Santa Clara; 3University of Amsterdam
Untying the Knot: Disentangling Cash Flow and Voting Rights for Better Price Informativeness 1University of Oklahoma; 2Boston College; 3University of Washington
Trading and Voting on Proxy Advice 1Vienna University of Economics and Business; 2HEC Paris
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| 8:30am - 10:15am | 3.2: Market for Executives and Talent Location: Köpenick Session Chair: Dirk Jenter, The London School of Economics and Political Science | |||
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The Talent Gap in Family Firms 1Washington University, United States of America; 2Columbia University; 3University of Copenhagen
Succession 1Copenhagen Business School, Denmark; 2Danish Finance Institute; 3HEC Montreal
Why Are CEOs Rarely Succeeded by External Candidates? 1Rotterdam School of Management, Erasmus University Rotterdam; 2EDHEC Business School and CEPR
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| 8:30am - 10:15am | 3.3: Relationship Lending and Bank Specialization Location: Charlottenburg I Session Chair: Allen Berger, University of South Carolina | |||
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Specialization in Banking 1New York University; 2Federal Reserve Bank of New York
Banking on Deposit Relationships: Implications for Hold-Up Problems in the Loan Market 1Norges Bank; 2CESifo; 3University of Zurich; 4KU Leuven
Do Bank Branches Matter? Evidence From Mandatory Branch Closings 1University of Luxembourg; 2Universitat de les Illes Balears; 3Universidad Carlos III de Madrid; 4Imperial College London; 5Banco de España
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| 8:30am - 10:15am | 3.4: Convenience Yields and Interest Rates Location: Charlottenburg II Session Chair: Paymon Khorrami, Duke University | |||
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Inflation and Treasury Convenience 1Duke University; 2University of Southern California; 3University of Chicago
The Zero-Beta Interest Rate 1Stanford University, United States of America; 2UC Berkeley, United States of America; 3University of Southern California, United States of America; 4NBER
Monetary Policy, Segmentation, and the Term Structure 1Princeton; 2Chicago Booth
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| 8:30am - 10:15am | 3.5: Intermediaries in Treasury and OTC Markets Location: Charlottenburg III Session Chair: Burton Hollifield, Carnegie Mellon University | |||
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Entry and Exit in Treasury Auctions 1Bank of Canada; 2Univeristy of Chicago; 3Univeristy of Chicago; 4Boston College
Dealer Capacity and U.S. Treasury Market Functionality 1Stanford University; 2Federal Reserve Bank of New York; 3Princeton University; 4Independent
LTCM Redux? Hedge Fund Treasury Trading and Funding Fragility 1Indiana University, United States of America; 2Federal Reserve Board of Governors, United States of America
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| 8:30am - 10:15am | 3.6: Cyber Risk Management Location: Schöneberg Session Chair: Kristine Hankins, University of Kentucky | |||
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Cybersecurity And Financial Stability 1Deutsche Bundesbank, Germany; 2University of Auckland, New Zealand
Consumer Surveillance and Financial Fraud 1UBC Sauder School of Business; 2Washington University Olin Business School; 3The Federal Trade Commission; 4The Wharton School, University of Pennsylvania
The Supply Of Cyber Risk Insurance 1University of St Gallen, Switzerland; 2Swiss Finance Institute
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| 10:15am - 10:30am | Coffee Break Location: Gartenlounge | |||
| 10:30am - 12:15pm | 4.1: Debt Structure Location: Tiergarten Session Chair: Elu von Thadden, Mannheim University | |||
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A New Theory of Credit Lines (With Evidence) 1University of Southern California, United States of America; 2Columbia University; 3CREI
Creditor-on-Creditor Violence and Secured Debt Dynamics 1Harvard Business School; 2The Hong Kong Polytechnic University; 3Columbia University
Explaining Debt Covenant Amendments: A Structural Approach The Wharton School, University of Pennsylvania, United States of America
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| 10:30am - 12:15pm | 4.2: Effects of Managerial Characteristics Location: Köpenick Session Chair: Christa Bouwman, Texas A&M University | |||
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Similarity Breeds Trust: Political Homophily and CEO-Board Communication 1The Chinese University of Hong Kong; 2The Chinese University of Hong Kong, Shenzhen; 3Erasmus University Rotterdam; 4Stockholm University
The Efficacy of Remote Work for Executives 1Boston College; 2Arizona State University
Eclipse of Rent-Sharing: The Effects of Managers’ Business Education on Wages and the Labor Share in the US and Denmark 1University of Maryland; 2Massachusetts Institute of Technologyv; 3University of Copenhagen
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| 10:30am - 12:15pm | 4.3: Corporate Debt and Loan Renegotiation Location: Charlottenburg I Session Chair: Arnoud Boot, University of Amsterdam | |||
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Debt Flexibility 1King's College London; 2Northwestern University; 3Federal Reserve Board of Governors Strategic Default and Renegotiation: Evidence from Commercial Real Estate Loans 1Rutgers University; 2Concordia University Corporate Debt, Boom-Bust Cycles, and Financial Crises 1Harvard University; 2University of Maryland; 3European Central Bank; 4National University of Singapore | |||
| 10:30am - 12:15pm | 4.4: Fund Mandates and Pricing Consequences Location: Charlottenburg II Session Chair: Chotibhak Jotikasthira, SMU - Cox School of Business | |||
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Passive Demand and Active Supply: Evidence from Maturity-mandated Corporate Bond Funds 1University of Lausanne; 2University of Southern California
Off Target: On the Underperformance of Target-Date Funds 1University of Arizona; 2University of Colorado, Boulder
Institutional Investors, Securities Lending, and Short-Selling Constraints London Business School, United Kingdom
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| 10:30am - 12:15pm | 4.5: Limited Liquidity of Money Markets Location: Charlottenburg III Session Chair: Benjamin Hebert, Stanford University | |||
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The Central Bank's Balance Sheet and Treasury Market Disruptions 1Stockholm School of Economics, Sweden; 2Chicago Booth; 3MIT
Financially Constrained Intermediaries and the International Pass-Through of Monetary Policy HKUST, Hong Kong S.A.R. (China)
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| 10:30am - 12:15pm | 4.6: FinTech Apps and Household Behavior Location: Schöneberg Session Chair: Andreas Fuster, EPFL | |||
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The Supply and Demand for Data Privacy: Evidence from Mobile Apps 1University of British Columbia; 2London School of Economics; 3University of Pennsylvania Mood Swings and Money: The Role of Financial Technology in Household Credit Demand 1Boston College; 2University of South Carolina The Digital Banking Revolution: Effects on Competition and Stability Columbia University | |||
| 12:30pm - 2:00pm | Lunch and Keynote Address by Albert S. "Pete" Kyle Location: Pavillon | |||
| 2:00pm - 5:00pm | Conference Registration Location: Gartenlounge | |||
| 2:30pm - 4:15pm | 5.1: Finance and Political Economy Location: Tiergarten Session Chair: Bruno Biais, HEC | |||
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How Effective are Portfolio Mandates? 1University of British Columbia; 2EDHEC Business School
All The President's Money: Market Concentration, Oligarchs and Sanctions in Hybrid Regimes 1London School of Economics; 2University of Houston
Political Preferences and Financial Market Equilibrium 1University of Oregon; 2Vienna University of Economics and Business
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| 2:30pm - 4:15pm | 5.2: Mergers and Acquisitions Location: Köpenick Session Chair: Paolo Fulghieri, University of North Carolina | |||
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Negotiation, Auction, or Negotiauction?! Evidence from the Field 1Iowa State University; 2Loyola Marymount University; 3Southern Illinois University Carbondale
Maturity Overhang: Evidence from M&A 1Lingnan University; 2Boston University; 3University of Washington
Tax Avoidance through Cross-Border Mergers and Acquisitions 1University of Pennsylvania and University of Texas at Dallas; 2Securities and Exchange Commission
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| 2:30pm - 4:15pm | 5.3: Mortgage Lending and Inequality Location: Charlottenburg I Session Chair: Felipe Severino, Tuck- Dartmouth College | |||
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Keeping Up With The Blackstones: Institutional Investors And Gentrification University of Michigan, United States of America Minority Specialized Lenders 1Northwestern University; 2University of Southern California; 3Stanford GSB Leverage Regulation and Housing Inequality 1Tilburg University; 2Tilburg University and CEPR | |||
| 2:30pm - 4:15pm | 5.4: New Perspectives on Asset Pricing Theory Location: Charlottenburg II Session Chair: Hengjie Ai, University of Wisconsin | |||
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Responsible Consumption, Demand Elasticity, and the Green Premium University of British Columbia
Dynamic Trading and Asset Pricing with Time-Inconsistent Agents 1UCLA Anderson School of Management; 2BI Norwegian Business School
Demand-System Asset Pricing: Theoretical Foundations 1University of Texas at Austin, United States of America; 2Bocconi University
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| 2:30pm - 4:15pm | 5.5: Refinancing Mortgages Location: Charlottenburg III Session Chair: Paul Willen, Federal Reserve Bank of Boston | |||
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Mortgage Lock-In, Mobility, and Labor Reallocation 1UIUC; 2The Wharton School, University of Pennsylvania
The Digital Divide and Refinancing Inequality University of Michigan
Refinancing Frictions, Mortgage Pricing and Redistribution 1Kellogg School of Management, Northwestern University, USA; 2Baruch College, CUNY, USA; 3Duke University, USA; 4Booth School of Business, University of Chicago, USA
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| 2:30pm - 4:15pm | 5.6: Fragility of Payment Systems Location: Schöneberg Session Chair: Johan Walden, University of California, Berkeley | |||
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CBDCs, Payment Firms, and Geopolitics 1Goethe University Frankfurt; 2Humboldt University Berlin; 3Frankfurt School of Finance & Management; 4Duke University; 5National Bureau of Economic Research
Payments, Reserves, and Financial Fragility 1University of Pennsylvania, United States of America; 2University College London, United Kingdom
Anatomy of a Run: The Terra Luna Crash 1MIT Sloan; 2LSE; 3MIT Sloan, NBER and CEPR
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| 6:30pm - 10:30pm | Conference Dinner at Gendarmerie | |||
| Date: Friday, 31/May/2024 | ||||
| 7:30am - 8:30am | Breakfast Buffet - for participants staying at the InterContinental Hotel under FIRS room block Location: L.A. Café | |||
| 7:30am - 10:30am | Conference Registration Location: Gartenlounge | |||
| 8:30am - 10:15am | 6.1: Design of DeFi and Exchanges Location: Tiergarten Session Chair: Vincent Maurin, HEC Paris | |||
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Arms Sales in Financial Markets 1The Wharton School of University of Pennsylvania; 2University of Colorado at Boulder, United States of America
Battle of the Bots: Flash loans, Miner Extractable Value and Efficient Settlement 1University of Calgary, Canada; 2UC Berkeley
Equilibrium in a DeFi Lending Market 1McGill University; 2Wake Forest University; 3University of Chicago
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| 8:30am - 10:15am | 6.2: Real Effects of Private Equity Location: Tegel Session Chair: Ulrich Hege, Toulouse School of Economics | |||
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When Private Equity Comes to Town: The Local Economic Consequences of Rising Healthcare Costs 1University of Minnesota, Carlson School of Management, United States of America; 2Rice University, Jones School of Business
More Guns Lead to More Crime: Evidence from Private Equity Deals Indiana University, United States of America
Desperate Capital Breeds Productivity Loss: Evidence from Public Pension Investments in Private Equity Kenan-Flagler Business School, University of North Carolina at Chapel Hill
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| 8:30am - 10:15am | 6.3: Lending and Intermediation in Mortgage Markets Location: Charlottenburg I Session Chair: Barney Hartman-Glaser, UCLA | |||
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Army of Mortgagors: Long-Run Evidence on Credit Externalities and the Housing Market 1University of Bonn, Germany; 2University of Mannheim, Germany
Housing Speculation, GSEs, and Credit Market Spillovers 1Federal Reserve Bank of Philadelphia, United States of America; 2Boston College; 3University of Delaware; 4University of Connecticut
Spatially Targeted LTV Policies and Collateral Values 1Academia Sinica, Department of Economics; 2Yale School of Management; 3National Taiwan University, Department of Economics
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| 8:30am - 10:15am | 6.4: Narratives and Investor Memory Location: Charlottenburg II Session Chair: Francesco D'Acunto, Georgetown University | |||
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Memory and Beliefs in Financial Markets: A Machine Learning Approach 1University of Pennsylvania; 2University of Zurich; Swiss Finance Institute
Crash Narratives Yale University, United States of America
Media Narratives and Price Informativeness 1Frankfurt School of Finance & Management, Germany; 2George Washington University
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| 8:30am - 10:15am | 6.5: Household Finance over the Lifecycle Location: Charlottenburg III Session Chair: João Cocco, London Business School | |||
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Interest-Rate Risk And Household Portfolio 1Harvard Business School, United States of America; 2Wharton; 3Yale
How Do Consumers Finance Increased Retirement Savings? MIT Sloan, United States of America
Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans 1Duke University; 2London Business School; 3Bank of Canada
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| 8:30am - 10:15am | 6.6: Corporate Social Responsibility Location: Schöneberg Session Chair: Nickolay Gantchev, University of Warwick | |||
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One Hundred and Thirty Years of Corporate Responsibility University of Florida, United States of America
Corporate Actions as Moral Issues 1Harvard University; 2University of Mannheim
Do Consumers Care About ESG? Evidence from Barcode-Level Sales Data 1University of Pennsylvania and University of Texas at Dallas; 2London Business School; 3Southwestern University of Finance and Economics (SWUFE); 4University of Texas at Dallas
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| 10:15am - 10:30am | Coffee Break Location: Gartenlounge | |||
| 10:30am - 12:15pm | 7.1: Implementing Optimal Trades Location: Tiergarten Session Chair: Jason Roderick Donaldson, USC | |||
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Money and Taxes implement Dynamic Optimal Mechanisms 1HEC, France; 2TSE; 3ETH; 4Mannheim University
Time Trumps Quantity in the Market for Lemons University of Texas Austin / UC3M, United States of America
Committing to Trade: A Theory of Intermediation Frankfurt School of Finance & Management, Germany
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| 10:30am - 12:15pm | 7.2: Determinants of Firm Investment and Labor Demand Location: Tegel Session Chair: Dirk Hackbarth, Boston University | |||
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Firm-Level Labor-Shortage Exposure 1University of Sydney Business School; 2University of Washington
ChatGPT and Corporate Policies 1Georgia State University; 2University of Chicago
Temperature and Local Industry Concentration 1Northwestern University; 2University of Illinois Urbana Champaign
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| 10:30am - 12:15pm | 7.3: Heterogeneity in Runs Location: Charlottenburg I Session Chair: Mark Flannery, University of Florida | |||
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Sophisticated and Unsophisticated Runs Federal Reserve Bank of New York, United States of America
Corporate Runs and Credit Reallocation 1Bocconi University, Italy; 2Bayes Business School, UK; 3Bank of Italy, Italy
The Making of an Alert Depositor: How Payment and Interest Drive Deposit Dynamics 1University of Washington, United States of America; 2University of Washington, United States of America; 3University of Pennsylvania, United States of America
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| 10:30am - 12:15pm | 7.4: Exports, Sovereign Debt, and Currencies Location: Charlottenburg II Session Chair: Daniel Neuhann, University of Texas at Austin | |||
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The Real Effects of Export Credit Subsidies: Evidence from the U.S. EXIM Shutdown 1National University of Singapore; 2Stanford University
Dollar and Carry Redux 1The University of Hong Kong; 2Boston University; 3Soochow University
Fiscal Constraints, Disaster Vulnerability, and Corporate Investment Decisions 1Frankfurt School; 2Bocconi
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| 10:30am - 12:15pm | 7.5: Investor Beliefs and Biases Location: Charlottenburg III Session Chair: Simon Gervais, Duke University | |||
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Extrapolators and Contrarians: Forecast Bias and Household Stock Trading 1Copenhagen Business School; 2National University of Singapore; 3EDHEC Business School, France
Financial Advisors and Investors’ Bias 1University of Southern California; 2London Business School; 3university of California, Berkeley
Households' Response to the Wealth Effects of Inflation 1Goethe University Frankfurt; 2University of Chicago
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| 10:30am - 12:15pm | 7.6: Real Effects of ESG Location: Schöneberg Session Chair: Jessica Jeffers, HEC Paris | |||
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“Glossy Green” Banks: The Disconnect Between Environmental Disclosures and Lending Activities 1Stockholm School of Economics; 2Barnard College, Columbia University, United States of America; 3UT Dallas; 4ECB
Getting Dirty Before You Get Clean: Institutional Investment in Fossil Fuels and the Green Transition University of Michigan, United States of America
Impact Investing and Worker Outcomes 1Harvard Business School; 2Tuck School of Business at Dartmouth
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| 12:30pm - 2:00pm | Lunch: FIRS Business Meeting, JFI Awards, 20th Anniversary Address, and Denis Gromb Award Location: Pavillon | |||
| 2:30pm - 4:15pm | 8.1: Equilibrium and Feedback from Financial Markets Location: Tiergarten Session Chair: Uday Rajan, University of Michigan | |||
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Feedback Between the Financial Market and the Product Market University of Oxford, United Kingdom
Feedback on Emerging Corporate Policies 1University of Maryland; 2University of Pennsylvania; 3University of Georgia; 4Chinese University of Hong Kong, Shenzhen
Multiple Equilibria in Noisy Rational Expectations Economies 1Eotvos Lorand University; 2University of Warwick; 3University of Toronto, Rotman
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| 2:30pm - 4:15pm | 8.2: Financial and Production Networks Location: Tegel Session Chair: Julien Sauvagnat, Bocconi University | |||
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Global Business Networks Technische Universität München, Germany
The Epidemiology of Financial Constraints and Corporate Investment 1Texas Christian University; 2American University; 3Michigan State University
His Pain Is Your Gain: Market Competition and Foreign Currency Exposure The University of Sydney Business School, Australia
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| 2:30pm - 4:15pm | 8.3: Fund Flows Location: Charlottenburg I Session Chair: Andrew Ellul, Indiana University | |||
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Fund Flows and Income Risk of Fund Managers 1Texas A&M University, United States of America; 2University of Pennsylvania (Wharton) and NBER; 3MIT (Sloan) and NBER
Mutual Fund Clientele and Fund Flows Deutsche Bundesbank, Germany
Intermediary Balance Sheet Constraints, Bond Mutual Funds’ Strategies, and Bond Returns 1SMU - Cox School of Business; 2Stockholm School of Economics; 3Federal Reserve Board of Governors
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| 2:30pm - 4:15pm | 8.4: Expectations of Professional Forecasters and Investors Location: Charlottenburg II Session Chair: Harjoat Bhamra, Imperial College Business School | |||
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Excess Volatility in Professional Stock Return Forecasts 1Tilburg, Netherlands; 2Nova SBE, Portugal; 3UCSD, United States of America
Over/Under-reaction and Judgment Noise in Expectations Formation university of essex, United Kingdom
The Subjective Risk and Return Expectations of Institutional Investors 1University of Southern California, Lusk Center of Real Estate; 2Fisher College of Business, The Ohio State University; 3Mendoza College of Business, University of Notre Dame
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| 2:30pm - 4:15pm | 8.5: Finance and Inequality Location: Charlottenburg III Session Chair: Murillo Campello, Cornell University | |||
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The Financial Origins Of Regional Inequality 1World Bank, United States of America; 2Bank for International Settlements, Switzerland
The Price Of Leverage: Learning From The Effect Of LTV Constraints On Job Search And Wages 1Tilburg University; 2Norges Bank
Escaping Violent Death: Access to Credit and Female Mortality 1Washington University in St. Louis, United States of America; 2Central Bank of Brazil; 3Princeton University
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| 2:30pm - 4:15pm | 8.6: Market Incentives for Clean Investment Location: Schöneberg Session Chair: Anjan Thakor, Washington University in St. Louis | |||
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Reducing Carbon using Regulatory and Financial Market Tools 1University of Alberta; 2Imperial College London; 3World Bank
Externalities of Responsible Investments 1Toulouse School of Economics; 2Indiana University
The Market for ESG Ratings 1University of Illinois Chicago, United States of America; 2University of Oxford, Said Business School
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