Expectation-Driven Term Structure of Equity and Bond Yields

Guihai Zhao¹, Ming Zeng²

¹Bank of Canada; ²University of Gothenburg

Discussant: Kai Li (Peking Uniersity)

The Dependence of Belief Dynamics on Beliefs: Implications for Stock Returns

Ian Dew-Becker¹, Stefano Giglio², Pooya Molavi³

¹Federal Reserve Bank of Chicago; ²Yale University; ³Northwestern University

Discussant: Jiantao Huang (University of Hong Kong)

Loan Spreads and Interest Rates: The Role of The Deposit Channel and Lending Market Power

Pierre Alexandre Dubuis¹, Antoine Hubert de Fraisse²

¹Bank of England; ²HEC Paris

Discussant: Sebastian Doerr (Bank for International Settlements)

Financial and Total Wealth Inequality with Declining Interest Rates

Matteo Leombroni¹, Dan Greenwald², Hanno Lustig³, Stijn Van Nieuwerburgh⁴

¹Boston College; ²New York University; ³Stanford University; ⁴Columbia University

Discussant: Andrej Mijakovic (European University Institute)

High Net Worth Individuals, Private Capital Markets and Inequality

Ararat Gocmen¹, Clara Martinez-Toledano², Vrinda Mittal³

¹University College London; ²Imperial College London; ³University of North Carolina at Chapel Hill

Discussant: Magnus Dje Bi Anges Hjortfors Irie (Princeton University)

Poverty Spreads in Deposit Markets

Emilio Bisetti¹, Arkodipta Sarkar²

¹Hong Kong University of Science and Technology; ²National University of Singapore

Discussant: Richard Stanton (University of California, Berkeley)

The Making of (Modern) Banks

Zhao Li³, Kebin Ma¹, Lucy White²

¹University of Warwick; ²Boston University; ³Capital University of Economics and Business

Discussant: John Chi-Fong Kuong (Chinese University of Hong Kong)

The Evolution and Economic impact of African American banks The USA from 1900 to present

Mintra Dwarkasing¹, Narly Dwarkasing², Yashvir Gangaram Panday³, Lucia Gomez Llactahuamani⁴

¹University of Bonn; ²Forum on Economic and Fiscal Policy; ³Erasmus University Rotterdam; ⁴Harvard University

Discussant: Hugh Hoikwang Kim (University of South Carolina)

Bank Stress Testing, Human Capital Investment and Risk Management

Thomas Schneider¹, Philip Strahan², Jun Yang³

¹University of Oklahoma; ²Boston College; ³University of Notre Dame

Discussant: Oliver Rehbein (Vienna University of Economics and Business)

Sustainable Investing and Market Governance

Alvin Chen¹, Deeksha Gupta², Jan Starmans¹

¹Stockholm School of Economics; ²Johns Hopkins University

Discussant: Magdalena Rola-Janicka (Imperial College London)

Carbon Offsets: Decarbonization or Transition-Washing?

Sehoon Kim, Tao Li, Yanbin Wu

University of Florida

Discussant: Kunal Sachdeva (University of Michigan)

Green Products

Wan-Chien Chiu¹, Po-Hsuan Hsu², Kai Li³, Joy Tianjiao Tong⁴

¹National Tsing Hua University; ²National Tsing Hua University; ³University of British Columbia; ⁴University of Western Ontario

Discussant: Nora Pankratz (University of Toronto)

Financing the Adoption of Clean Technology

Andrea Lanteri, Adriano Rampini

Duke University

Discussant: Deeksha Gupta (Johns Hopkins University)

Do Carbon Markets Undermine Private Climate Initiatives?

Pat Akey¹, Ian Appel², Aymeric Bellon³, Johannes Klausmann²

¹INSEAD; ²University of Virginia; ³University of North Carolina at Chapel Hill

Discussant: Amanda Heitz (Tulane University)

Climate Innovation and Carbon Emissions: Evidence from Supply Chain Networks

Ulrich Hege¹, Kai Li², Yifei Zhang²

¹Peking University; ²Toulouse School of Economics

Discussant: Chhavi Rastogi (International Finance Corporation)

Uncertainty Creates Zombie Firms: Implications for Industry Dynamics and Creative Destruction

Kevin Aretz¹, Murillo Campello², Gaurav Kankanhalli³, Kevin Schneider⁴

¹University of Manchester; ²University of Florida; ³University of Pittsburgh; ⁴University of Cambridge

Discussant: Eyub Yegen (Hong Kong University of Science and Technology)

Corporate Credit Conditions Around the World: Novel Facts Through Holistic Data

Nina Boyarchenko, Leonardo Elias

Federal Reserve Bank of New York

Discussant: Seongjin Park (Nanyang Technological University)

The Real Effects of Debt Relief: Evidence from Independent School Districts in Texas

Thomas Seunghyun Lee

University of Texas at Austin

Discussant: Varun Sharma (Indiana University)

ESG Incidents and Fundraising in Private Equity

Teodor Duevski¹, Chhavi Rastogi², Tianhao Yao³

¹HEC Paris; ²International Finance Corporation; ³Singapore Management University

Discussant: Mayank Kumar (Boston University)

Funding the Fittest? Pricing of Climate Transition Risk in the Corporate Bond Market

Yasmine Van der Straten¹, Maurice Bun^1,2, Martijn Boermans²

¹University of Amsterdam; ²De Nederlandsche Bank

Discussant: Will Liu (City University of Hong Kong)

ESG Investing and Stock Return Comovements

Marcin Kacperczyk¹, Lin Peng², Jing Xie³

¹Imperial College London; ²Baruch College; ³University of Macau

Discussant: Shane Miller (University of Michigan)

The Product Market Consequences of Corporate Bankruptcy: New Evidence from 300 Million Retail Transactions

Murillo Campello², Gustavo Cortes², Sergio H. Rocha¹

¹Monash University; ²University of Florida

Discussant: Jaewon Choi (Seoul National University)

Firm Product Concentration and Asset Prices

Alexandre Corhay

University of Toronto

Discussant: Yu Li (Shanghai Jiao Tong University)

Adverse Selection and Endogenous Information

Joao Lucas Thereze Ferreira

Duke University

Discussant: Chao Ying (Chinese University of Hong Kong)