Credit Card Borrowing in Heterogeneous-Agent Models: Reconciling Theory and Data

Sean Chanwook Lee¹, Peter Maxted²

¹Harvard University; ²University of California, Berkeley

Discussant: Arthur Taburet (Duke University)

Beliefs-driven Entry and Exit

Paul Ehling, Christian Heyerdahl-Larsen, Zeshu Xu

BI Norweigian Business School

Discussant: Hongye Guo (University of Hong Kong)

Risk Revisited

Xindi He¹, Yucheng Liang²

¹Georgia Institute of Technology; ²Carnegie Mellon University

Discussant: Zhengyang Xu (City University of Hong Kong)

The Economics of Investor Engagement

Davidson Heath¹, Daniele Macciocchi², Matthew Ringgenberg¹

¹University of Utah; ²University of Miami

Discussant: Sean Seunghun Shin (Korea Advanced Institute of Science & Technology)

(Re)call of Duty: Mutual Fund Securities Lending and Proxy Voting

Tao Li¹, Qifei Zhu²

¹University of Florida; ²National University of Singapore

Discussant: Maxime Couvert (University of Hong Kong)

Common Investors Across the Capital Structure: Private Debt Funds as Dual Holders

Tetiana Davydiuk¹, Isil Erel², Wei Jiang³, Tatyana Marchuk⁴

¹Johns Hopkins University; ²Ohio State University; ³Emory University; ⁴Nova School of Business and Economics

Discussant: Katie Moon (University of Colorado)

Physical Climate Risk Factors and an Application to Measuring Insurers’ Climate Risk Exposure

Hyeyoon Jung¹, Robert Engle², Shan Ge², Xuran Zeng²

¹Federal Reserve Bank of New York; ²New York University

Discussant: Sangmin Simon Oh (Columbia University)

Business as Usual: Bank Climate Commitments, Lending, and Engagement

David Marques Ibanez³, Emil Verner², Pari Sastry¹

¹European Central Bank; ²Columbia University; ³Massachusetts Institute of Technology

Discussant: Tim Eisert (Nova School of Business and Economics)

Bank Competition and Strategic Adaptation to Climate Change

Dasol Kim¹, Luke Olson¹, Toan Phan²

¹Office of Financial Research; ²Federal Reserve Bank of Richmond

Discussant: Mayank Kumar (Boston University)

The Debt Ceiling’s Disruptive Impact: Evidence from Many Markets

William Cassidy, Shreye Mirani

Washington University in St. Louis

Discussant: Jonathan Wallen (Harvard University)

Pre-Refunding Announcement Gains in US Treasurys

Chen Wang¹, Kevin Zhao²

¹University of Notre Dame; ²Office of Financial Research

Discussant: Byoung-Hyoun Hwang (Nanyang Technological University)

The Effects of Monetary Policy on Macroeconomic Expectations: High-Frequency Evidence from Traded Event Contracts

Eric Swanson¹, Renxuan Wang², Yanbin Wu³

¹University of California, Irvine; ²China Europe International Business School; ³University of Florida

Discussant: Nancy Xu (Boston College)

Regulating Inventors

Torin McFarland

Drexel University

Discussant: Xiangqian Huang (Chinese University of Hong Kong)

How Scientists on Corporate Boards Drive Innovation by Bridging Research and Development

Ronald W. Masulis, Yufeng Yao

University of New South Wales

Discussant: Xing Liu (Tsinghua University)

Are Patents with Female Inventors Under-Cited? Evidence from Text Estimation

Yael Hochberg¹, Ali Kakhbod², Peiyao Li², Kunal Sachdeva³

¹Rice University; ²University of California, Berkeley; ³University of Michigan

Discussant: Alan Kwan (University of Hong Kong)

A Cognitive Foundation for Perceiving Uncertainty

Aislinn Bohren⁴, Josh Hascher³, Alex Imas³, Michael Ungeheuer¹, Martin Weber²

¹Aalto University, Finland; ²University of Mannheim; ³University of Chicago; ⁴University of Pennsylvania

Discussant: Tse-Chun Lin (The University of Hong Kong)

Information Partitioning, Learning, and Beliefs

Pascal Kieren¹, Lukas Mertes², Martin Weber²

¹Heidelberg University; ²University of Mannheim

Discussant: Suk Lee (University of New South Wales)

An Arrow-Pratt Theory of Preference for Early Resolution of Uncertainty

Hengjie Ai¹, Ravi Bansal², Hongye Guo³, Amir Yaron⁴

¹University of Wisconsin, Madison; ²Duke University; ³University of Hong Kong; ⁴University of Pennsylvania

Discussant: Yizhou Xiao (Chinese University of Hong Kong)

Exploitation Payoffs and Incentives for Exploration

Jangwoo Lee¹, William Fuchs², Martin Dumav³

¹Chinese University of Hong Kong; ²University of Texas at Austin; ³University of Carlos III

Discussant: Di Li (Peking University)

Financial Innovation, Labor Markets, and Wage Inequality: Evidence from Instant Payment Systems

Jacelly Cespedes¹, Carlos Burga², Carlos Parra², Bernardo Ricca³

¹University of Minnesota; ²Pontificia Universidad Católica de Chile; ³Insper

Discussant: Jian Zhang (University of Hong Kong)

Human Capital, Competition and Mobility in the Managerial Labor Market

John Barry¹, Noah Lyman², Lin Zhao³

¹Rice University; ²University of Warwick; ³Duke University

Discussant: Dimas Fazio (National University of Singapore)

Excess Co-movement in Default Risk

Jan Ericsson¹, Kristoffer Glover², Alexandre Jeanneret³, Lucie Lu⁴

¹McGill University; ²University of Technology Sydney; ³University of New South Wales; ⁴University of Melbourne

Discussant: Jongsub Lee (Seoul National University)

The Market for Sharing Interest Rate Risk: Quantities and Asset Prices

Umang Khetan¹, Jian Li², Ioana Neamtu³, Ishita Sen⁴

¹University of Iowa; ²Columbia University; ³Bank of England; ⁴Harvard University

Discussant: Karamfil Todorov (Bank for International Settlements)

Bond Funds and Credit Risk

Jaewon Choi¹, Amil Dasgupta², Ji Yeol Jimmy Oh³

¹Seoul National University; ²London School of Economics; ³Sungkyunkwan University

Discussant: Alex Dickerson (University of New South Wales)