Thursday 21 May 2015
Session 1: Managerial Incentives (14:00–15:30)
Session Chair: Karin Thorburn, Norwegian School of Economics
Strategic News Releases in Equity Vesting Months
- Alex Edmans, London Business School
- Luis Goncalves‐Pinto, National University of Singapore
- Yanbo Wang, INSEAD
- Moqi Xu, London School of Economics (presenting)
Discussant: Caroline Zhu, University of Oklahoma
CEO Fitness and Firm Value
- Peter Limbach, Karlsruhe Institute of Technology (presenting)
- Florian Sonnenburg, University of Cologne
Discussant: Karin Thorburn, Norwegian School of Economics
Spillovers Inside Conglomerates: Incentives and Capital
- Ran Duchin, University of Washington (presenting)
- Amir Goldberg, Stanford University
- Denis Sosyura, University of Michigan
Discussant: Chris Florackis, University of Liverpool
Session 2: Identification Strategies (16:00–17:30)
Session Chair: Pradeep Yadav, University of Oklahoma
Institutional Investors in the Equity Lending Market: Implications for Corporate Financial Policies
- Murillo Campello, Cornell University
- Pedro Saffi, University of Cambridge (presenting)
Discussant: Pradeep Yadav, University of Oklahoma
Rating Friends: The Effect of Personal Connections on Credit Ratings
- Seyed Hossein Khatami, University of Manchester
- Maria-Teresa Marchica, University of Manchester
- Roberto Mura, University of Manchester (presenting)
Discussant: Yang Zhao, Cardiff University
Market and Regional Segmentation and Risk Premia in the First Era of Financial Globalisation
- David Chambers, Cambridge Judge Business School (presenting)
- Sergei Sarkissian, McGill University
- Michael Schill, Darden School of Business, University of Virginia
Discussant: Piotr Korczak, University of Bristol
Gala Dinner: The Scottish Cafe & Restaurant, Scottish National Gallery (19:15–late)
Friday 22 May 2015
Session 3: Lending (09:30–11:00)
Session Chair: Tim Adam, Humboldt University
The Economic Effects of a Borrower Bailout: Evidence from an Emerging Market
- Martin Kanz, World Bank (presenting)
- Xavier Gine, World Bank
Discussant: Yesha Yadav, Vanderbilt University
Hold-up and the Use of Performance-sensitive Debt
- Tim Adam, Humboldt University (presenting)
- Daniel Streitz, Humboldt University
Discussant: Felix Feng, University of Notre Dame
The Impact of Political Risk on Foreign Lending: Evidence on Bilateral Investment Treaties, Expropriations, and Syndicated Loans
- Veljko Fotak, SUNY Buffalo
- Hae Kwon Lee, SUNY Buffalo (presenting)
Discussant: Tim Adam, Humboldt University
Keynote Speech: Topics Around Corporate Governance (11:30–13:00)
Andy Haldane, Bank of England
Session 4: Financing and Short-selling (14:00–15:30)
Session Chair: Alex Edmans, London Business School
Financing Decisions of Private and Publicly Traded Firms: Evidence from a Quasi-natural Experiment
- Gordon Phillips, University of Southern California (presenting)
- Giorgio Sertsios, University de los Andes
Discussant: Maria Marchica, University of Manchester
Does Short Selling Discipline Overinvestment?
- Eric C. Chang, University of Hong Kong
- Tse-Chun Lin, University of Hong Kong (presenting)
- Xiaorong Ma, University of Hong Kong
Discussant: Alex Edmans, London Business School
In the Path of the Storm: Does Distress Cause Non-financial Firms to Risk-shift?
- Oksana Pryshchepa, Birmingham University
- Kevin Aretz, Manchester Business School (presenting)
- Shantanu Banerjee, Lancaster University
Discussant: Francesco Vallascas, University of Leeds
