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14:00 - 15:30
Parallel Sessions PhD Workshop learn more
Climate Change
Room: Classroom 216
Chair: Thomas Lagoarde-Segot
How do investors react to climate news? The influence of public attention
Authors: Marie Cellou (Université de Rennes)
Can Unconventional Monetary Policy Contribute to Climate Action?
Presenter: Alice Eliet-Doillet (EPFL, SFI)
Authors: Alice Eliet-Doillet (EPFL, SFI), Andrea Maino (UNIGE, SFI)
Behavioral Finance
Room: Classroom 218
Chair: Patrick Roger
Believe it or Not: The Role of Investor Beliefs for Private Equity Valuation
Authors: Aleksandr Ermakov (University of Luxembourg)
Negative Sentiment and Aggregate Retail Trading: Evidence from Mass Shootings
Presenter: Tianchen (Hugo) Zhao (University of Maryland)
Authors: Tianchen (Hugo) Zhao (University of Maryland)
Market Information
Room: Classroom 311
Chair: Jessica Fouilloux-Thomasset (IRGO)
The Influence of Stock Market Informativeness on Corporate Investment Decision: Evidence from Vietnam
Presenter: Duy-Tuan NGUYEN (Lille University)
Authors: Duy-Tuan NGUYEN (Lille University)
Can YouTube Sentiment Information Forecast Bitcoin Returns?
Presenter: Pierre FAY (IAE Lille University School of Management)
Authors: Pierre FAY (IAE Lille University School of Management), David Bourghelle (IAE Lille University School of Management), Fredj JAWADI (IAE Lille University School of Management)
Sustainable Finance
Room: Classroom 317
Chair: Trébucq Stéphane (IAE Bordeaux)
The Performance of Socially Responsible Investments: A Meta-Analysis
Presenter: Gül Yüksel (University of Bremen)
Authors: Gül Yüksel (University of Bremen), Lars Hornuf (TU Dresden)
What drives the sustainability premium? The influence of credit risks and maturity effects on sustainable bonds.
Presenter: Mavis Opoku-Bossman (University of Bordeaux)
Authors: Mavis Opoku-Bossman (University of Bordeaux), Yves Rannou (ESC Clermont Business School,CleRMa), Pascal Barneto (University of Bordeaux)
Macrofinance
Room: Classroom 315
Chair: Christophe Faugère (Kedge Business School)
Co-trading networks for modelling dynamic interdependency structures and estimating high-dimensional covariances in US equity markets
Presenter: Yutong Lu (University of Oxford)
Authors: Yutong Lu (University of Oxford), Gesine Reinert (University of Oxford), Mihai Cucuringu (University of Oxford)
The Hidden Impact of Private Money Creation on the Cross Section of Stock Returns: Evidence from the FinTech-led Boom of Cash Investing
Authors: Xing Han (University of Auckland Business School), Wenqiong Liu (Ghent University ), Yuliang Wu (University of Bradford)
16:00 - 17:30
Parallel Sessions PhD Workshop learn more
Corporate Finance
Room: Classroom 216
Chair: Ali Dardour (Kedge Business School)
Business Angel Activities across Countries: An Institutional Perspective
Presenter: Muzna Rahman (University of Bordeaux)
Authors: Muzna Rahman (University of Bordeaux), Joanne Hamet (University of Bordeaux)
Does audit quality reduce stock price synchronicity? Evidence from China.
Presenter: Yaqiong Zhou (University of Warwick)
Authors: Yaqiong Zhou (University of Warwick)
Financial Markets
Room: Classroom 218
Chair: Jean-Laurent Viviani
Implications of the Regulatory Treatment of Sovereign Exposures for Bank Behavior
Presenter: Oliver Beckmann (FernUniversität in Hagen)
Authors: Oliver Beckmann (FernUniversität in Hagen)
Trade Co-occurrence, Trade Flow Decomposition, and Conditional Order Imbalance in Equity Markets
Presenter: Yutong Lu (University of Oxford)
Authors: Yutong Lu (University of Oxford), Gesine Reinert (University of Oxford), Mihai Cucuringu (University of Oxford)
ESG Performance
Room: Classroom 315
Chair: Nassima Selmane (KEDGE Business School)
The cost of capital and the inclusion of extra-financial carbon criteria
Authors: Mélanie Wasilewski (Université de Bordeaux)
Corruption and ESG performance
Presenter: Sophie Razzaki (Université de Lille - IAE- LUMEN (Lille University Management))
Authors: Sophie Razzaki (Université de Lille - IAE- LUMEN (Lille University Management)), Marion Dupire (Université de Lille - LUMEN (Lille University Management)), Jean-Christophe Statnik (Université de Lille - LUMEN (Lille University Management))
Climate Risk
Room: Classroom 311
Chair: Pascal Barneto
The effects of natural disasters on firm value: Evidence from Hurricane Sandy
Presenter: Phuong Tram Anh LE (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France )
Authors: Phuong Tram Anh LE (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France ), Sylvain Marsat (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France ), Guillaume PIJOURLET (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France )
Flooded House or Underwater Mortgage? The Implications of Climate Change and Adaptation on Housing, Financial Assets & Redistribution
Presenter: Yasmine Van der Straten (University of Amsterdam)
Authors: Yasmine Van der Straten (University of Amsterdam)
Macrofinance II
Room: Classroom 317
Chair: Christophe Faugere (Kedge Business School)
Banks Asset, Money Creation, and Market Preferences: Evidence from Banks’ Commercial Paper Issuance
Authors: Mostafa Aghasian (Université Paris Dauphine-PSL)
08:30 - 08:55
Welcome Speech learn more
Amphi 406
Welcome Speech
Room: Amphi 406
Chair: Faugere Christophe (Kedge Business School)
09:00 - 10:30
Parallel Sessions I learn more
International Finance
Room: Classroom 216
Chair: Emilie Bonhoure (Kedge Business School)
Country Institutions and Foreign Investment: Evidence from European Multinational Companies
Presenter: Christian Haddad (Excelia )
Authors: Christian Haddad (Excelia ), Arnt Verriest (KU Leuven)
Discussant: Junxuan Wang
Corporate Basis and Demand for U.S. Dollar Assets
Presenter: Junxuan Wang (Warwick Business School)
Authors: Junxuan Wang (Warwick Business School), Ganesh Viswanath-Natraj (Warwick Business School), Grace Xing Hu (PBC School of Finance, Tsinghua University), Zhan Shi (PBC School of Finance, Tsinghua University)
Discussant: Christian Haddad (Excelia)
Private Equity and Venture Capital I
Room: Classroom 218
Chair: Serge Darolles
Social Networks and Venture Capital Investments around the World
Presenter: Giang Nguyen (emlyon business school)
Authors: Giang Nguyen (emlyon business school), Hannah Nguyen (Monash University)
Discussant: Teodor Duevski (HEC Paris)
Across Industry Allocation Decisions in Private Equity
Presenter: Teodor Duevski (HEC Paris)
Authors: Teodor Duevski (HEC Paris)
Discussant: Serge Darolles
Private Equity Fund Performance around the World
Authors: Serge Darolles (Université Paris Dauphine - PSL), Sara Ain Tommar (Neoma Business School), Emmanuel Jurczenko (EDHEC Business School)
Discussant: Giang Nguyen (emlyon business school)
Sustainable Finance I
Room: Amphi 304
Chair: Gaëlle Le Fol (Université Paris Dauphine - PSL)
CSR Disclosures and Firm Value: Disentangling the Role of ESG Rating Providers
Authors: Albane Tarnaud (IESEG School of Management), Mohammed Zakriya (IESEG School of Management)
Discussant: Anouck Faverjon
Do companies with strong ESG scores “really” outperform? Evidence of selection and survivorship biases in ESG ratings
Authors: Anouck Faverjon (HEC Liège, Université de Liège / Université Paris-Dauphine, PSL), Marie Lambert (HEC Liège, Université de Liège)
Discussant: Thi Hong Van HOANG (Montpellier Business School, Montpellier, France)
Employment litigations and ESG reporting: An empirical analysis of S&P 500 firms
Presenter: Thi Hong Van HOANG (Montpellier Business School, Montpellier, France)
Authors: Thi Hong Van HOANG (Montpellier Business School, Montpellier, France), Linh PHAM (Lake Forest College, IL, USA), Thanh Thi Phuong NGUYEN (Japan Securities Research Institute, Japan)
Discussant: Gaëlle Le Fol (Université Paris Dauphine - PSL)
Who can better push firms to go "green"? A look at ESG effects on stock returns
Presenter: Gaëlle Le Fol (Université Paris Dauphine - PSL)
Authors: Gaëlle Le Fol (Université Paris Dauphine - PSL), Serge Darolles (Université Paris Dauphine - PSL), Yuyi He (Chinese University of Hong Kong)
Discussant: Albane Tarnaud (IESEG School of Management)
Banking and Financial intermediation I
Room: Classroom 317
Chair: Karima Bouaiss
Managing Bank Liquidity Hoarding during Uncertain Times: The Role of Board Gender Diversity
Presenter: Laurent Weill (University of Strasbourg)
Authors: Laurent Weill (University of Strasbourg), Denis Davydov (Hanken School of Economics), Tatiana Garanina (University of Vaasa)
Discussant: Jean-Loup Soula (EM Strasbourg, Université de Strasbourg)
What Drives Racial Minorities to Use Fintech Lending?
Presenter: Celine Fei (UNC Kenan Flagler)
Authors: Celine Fei (UNC Kenan Flagler)
Discussant: Laurent Weill
Climate change and bank performance
Presenter: Jean-Loup Soula (EM Strasbourg, Université de Strasbourg)
Authors: Stef Nicolae (Burgundy School of Business, Université Bourgogne Franche-Comté), Elodie Behnam (EM Strasbourg, Université de Strasbourg), Jean-Loup Soula (EM Strasbourg, Université de Strasbourg)
Discussant: Celine Fei (UNC Kenan Flagler)
Corporate Governance I
Room: Amphi 306
Chair: Ali Dardour (Kedge Business School)
Predictors of Board Gender Diversity in Traditionally Male-Dominated Stock Exchanges: An Institutional and Strategic Response Approach
Presenter: Faten Ben Slimane (Université Gustave Eiffel)
Authors: Faten Ben Slimane (Université Gustave Eiffel), Laura Padilla-Angulo (Universidad Loyola Andalucía)
Discussant: Arthur Petit-Romec (Toulouse Business School)
The Voting Behavior of Women-Led Mutual Funds
Authors: alexandre garel (Audencia Business School), Alberta Di Giuli (ESCP Business School), Arthur Petit-Romec (Toulouse Business School)
Discussant: Caroline Perrin (Université de Strasbourg)
Gendered laws and women’s financial inclusion
Presenter: Caroline Perrin (Université de Strasbourg)
Authors: Caroline Perrin (Université de Strasbourg), Marie Hyand (The World Bank)
Discussant: Faten Ben Slimane (Université Gustave Eiffel)
Sustainable Finance II
Room: Amphi 302
Chair: Walid Ben Amar (Telfer University of Ottawa)
Firm-Level Climate Risk Exposure and Earnings Management
Authors: Isabelle Martinez (TSM Université Toulouse Capitole), Walid Ben Amar (Telfer School of Management, University of Ottawa), Gregoire Davrinche (IAE Lille University School of Management )
Discussant: camillo riva
Consumers Reaction to Corporate ESG Performance: Evidence from Store Visits
Authors: Tinghua Duan (IESEG School of Management), Frank Weikai Li (Lee Kong Chian School of Business, Singapore Management University), Roni Michaely (University of Hong Kong and ECGI)
Discussant: Walid Ben Amar (Telfer University of Ottawa)
Do Environmental and Social Funds Sell When They Disagree?
Authors: camillo riva (ESSEC Business School)
Discussant: Tinghua Duan
Information and Financial Markets I
Room: Classroom 311
Chair: Christophe Pérignon
Computational Reproducibility in Finance: Evidence from 1,000 Tests
Presenter: Christophe Pérignon (HEC Paris)
Authors: Christophe Pérignon (HEC Paris), Christophe Hurlin (University of Orléans)
Discussant: Matthieu PICAULT
Twitter, Investor Demographics, and the Diffusion of Information in Financial Markets
Presenter: David Rakowski (University of Texas at Arlington)
Authors: Mahnaz Paydarzarnaghi (University of Texas at Arlington), David Rakowski (University of Texas at Arlington)
Discussant: Christophe Pérignon
Market disappointment with central bank announcements
Authors: Matthieu PICAULT (University of Orléans, LEO.), Julien PINTER (University of Minho)
Discussant: David Rakowski (University of Texas at Arlington)
Corporate Finance I
Room: Classroom 315
Chair: Charles Olivier Amédée-Manesme
Rising Prices While Struggling: Financial Constraints and Price Setting of Non-Financial Firms
Presenter: Nicoletta Berardi (Banque de France)
Authors: Nicoletta Berardi (Banque de France)
Discussant: Stephen Taylor (University of Technology Sydney)
Does linguistic complexity of annual reports affect corporate leasing decision?
Presenter: Nicolas Eugster (University of Queensland)
Authors: Nicolas Eugster (University of Queensland), Danlin Chi (University of Queensland), Hasibul Chowdhury (University of Queensland), Jiayi Zheng (Australian National University)
Discussant: Nicoletta Berardi (Banque de France)
International Economic Policy Uncertainty and Properties of Analysts' Earnings Forecasts
Presenter: Stephen Taylor (University of Technology Sydney)
Authors: Stephen Taylor (University of Technology Sydney), Yaowen Shan (University of Technology Sydney), Anh Le (University of Technology Sydney)
Discussant: Nicolas Eugster (University of Queensland)
Derivatives I
Room: Amphi 316
Chair: Yannick Dillschneider (University of Amsterdam)
Carbon Default Swap -- Disentangling the Exposure to Carbon Risk Through CDS
Authors: Alexander Blasberg (University of Duisburg-Essen), Rüdiger Kiesel (University of Duisburg-Essen), Luca Taschini (London School of Economics)
Discussant: Yannick Dillschneider (University of Amsterdam)
GMM Estimation of Stochastic Volatility Models Using Transform-Based Moments of Derivatives Prices
Presenter: Yannick Dillschneider (University of Amsterdam)
Authors: Yannick Dillschneider (University of Amsterdam), Raimond Maurer (Goethe University Frankfurt)
Discussant: Stephen Szaura (BI Norwegian School of Business)
Accounting Transparency and the Implied Volatility Skew
Presenter: Stephen Szaura (BI Norwegian School of Business)
Authors: Hitesh Doshi (University of Houston), Jan Ericsson (McGill University), Stephen Szaura (BI Norwegian School of Business), Fan Yu (Claremont McKenna College)
Discussant: Alexander Blasberg
11:00 - 12:30
Round Table 1: Global Performance and Resilience of the Banking Sector to Crises (Sponsored by Crédit Mutuel Arkéa) learn more
Amphi 406
Round Table 1: Global Performance and Resilience of the Banking Sector to Crises (Sponsored by Crédit Mutuel Arkéa)
Room: Amphi 406
14:00 - 15:30
Parallel Sessions II learn more
Corporate Governance II (Sponsored by Eurofidai)
Room: Classroom 216
Chair: Jocelyn Martel
Governance reallocations by institutional investors
Presenter: Jose M. MARTIN FLORES (CUNEF Universidad)
Authors: Jose M. MARTIN FLORES (CUNEF Universidad), Alvaro REMESAL (CUNEF Universidad), Sergio GARCIA (CUNEF)
Discussant: Andréanne Tremblay
Severity of Employee Discrimination and Firm Profitability – Evidence from EEOC Payout Gaps
Authors: Shiu-Yik Au (University of Manitoba), Spencer Barnes (University of Texas at El Paso), Andréanne Tremblay (Universite Laval)
Discussant: Francis Declerck (ESSEC)
Governance Dynamics of Cooperatives Federations: A Conceptual Framework.
Authors: Julien Cadot (ISG International Business School), Mike Cook (University of Missouri), Francis Declerck (ESSEC), Philippe Jeanneaux (VetAgro Sup)
Discussant: Jose M. MARTIN FLORES (CUNEF Universidad)
Banking and Financial Intermediation II
Room: Amphi 316
Chair: Laurent Weill
Regional favoritism in access to credit: just believe in it
Presenter: Laurent Weill (University of Strasbourg)
Authors: Laurent Weill (University of Strasbourg), Francis Osei-Tutu (University of Strasbourg)
Discussant: Ludovico Rossi (CUNEF Universidad)
Does the proximity of cooperative banks facilitate access to credit?
Presenter: Ludovico Rossi (CUNEF Universidad)
Authors: Ludovico Rossi (CUNEF Universidad), Elena Beccalli (Università Cattolica del Sacro Cuore), Andrea Viola (Università Cattolica del Sacro Cuore)
Discussant: Rui Xiong (Toulouse School of Management, University Toulouse Capitole (TSM-Research))
Lending and monitoring: Big Tech vs Banks
Presenter: Rui Xiong (Toulouse School of Management, University Toulouse Capitole (TSM-Research))
Authors: Rui Xiong (Toulouse School of Management, University Toulouse Capitole (TSM-Research)), Matthieu Bouvard (Toulouse School of Economics, University Toulouse Capitole (TSM-Research)), Catherine Casamatta (Toulouse School of Economics, University Toulouse Capitole (TSM-Research))
Discussant: Laurent Weill
Sustainable Finance III
Room: Classroom 218
Chair: Sofia Brito-Ramos (ESSEC Business School)
Backing Away from ESG? The Effect of Sovereign Rating Downgrades on Corporate ESG Policies
Presenter: Periklis Boumparis (Newcastle University )
Authors: Chris Florackis (University of Liverpool), Sushil Sainani (University of Liverpool), Periklis Boumparis (Newcastle University )
Discussant: Rébecca Cardot (Grenoble Ecole de Management)
In labels we trust? The influence of sustainability labels in mutual fund flows
Presenter: Sofia Brito-Ramos (ESSEC Business School)
Authors: Sofia Brito-Ramos (ESSEC Business School), Maria Céu CORTEZ (School of Economics and Management, University of Minho), Svetoslav COVACHEV (Corvinus University of Budapest), Florinda SILVA (School of Economics and Management, University of Minho)
Discussant: Periklis Boumparis (Newcastle University)
Green Bonds & Certification: is getting certified always optimal?
Presenter: Rébecca Cardot (Grenoble Ecole de Management)
Authors: Rébecca Cardot (Grenoble Ecole de Management), Carole Bernard (Grenoble Ecole de Management; Faculty of Economics, Vrije Universiteit Brussel), Jamil Jaballah (Grenoble Ecole de Management)
Discussant: Sofia Brito-Ramos (ESSEC Business School)
Banking and Financial intermediation III
Room: Classroom 317
Chair: Valère Fourel (Banque de France)
The impact of the PEPP on the corporate commercial paper market
Authors: Alice Schwenninger (Banque de France and University Paris X), Valère Fourel (Banque de France)
Discussant: Christoph Memmel (Deutsche Bundesbank)
Bank Countercyclical Capital Buffer under the Liquidity Coverage Ratio Regulation
Presenter: HELYOTH HESSOU (Universite de Sherbrooke)
Authors: HELYOTH HESSOU (Universite de Sherbrooke), Van Son Lai (Laval University )
Discussant: Valère Fourel (Banque de France)
Banks' Credit Losses and Lending Dynamics
Authors: Peter Raupach (Deutsche Bundesbank), Christoph Memmel (Deutsche Bundesbank)
Discussant: HELYOTH HESSOU (Universite de Sherbrooke)
Corporate Governance III
Room: Amphi 306
Chair: Adam Elage (Kedge Business School)
Bigger agency costs in smaller firms? The role of size and reporting requirements in agency conflicts
Presenter: Vivien Lefebvre (EM Strasbourg Business School)
Authors: Vivien Lefebvre (EM Strasbourg Business School), Pauline Johannes (EM Strasbourg Business School)
Discussant: Helen Bollaert
Board Compensation and Investment Efficiency
Presenter: Martin Gregor (Charles University)
Authors: Martin Gregor (Charles University), Beatrice Michaeli (UCLA Anderson School of Management)
Discussant: Vivien Lefebvre (EM Strasbourg Business School)
Executive Compensation Faultlines and Corporate Acquisitions
Presenter: Helen Bollaert (SKEMA Business School)
Authors: Helen Bollaert (SKEMA Business School), Timothy King (University of Vaasa, Finland), Laima Spokeviciute (Cardiff Business School, University of Cardiff, UK)
Discussant: Martin Gregor (Charles University)
Sustainable Finance IV (Sponsored by Groupe Alpha)
Room: Amphi 318
Chair: Gael IMAD'EDDINE (Universite de Lille - IAE)
How useful are ESG ratings to mitigate climate change?
Authors: Dajana Jata (LEMNA, Nantes Université), Benoît Sevi (LEMNA, Nantes Université), Nicolas Rautureau (LEMNA, Nantes Université)
Discussant: Gael IMAD'EDDINE (Universite de Lille - IAE)
The effects of mandatory ESG disclosure on price efficiency around the world
Presenter: Rong Ding (NEOMA Business School)
Authors: Rong Ding (NEOMA Business School), Qiyu Zhang (University of Sussex Business School), Ding Chen (University of Sussex Business School), Xiaoxiang Zhang (University of Sussex Business School)
Discussant: Dajana Jata
The true ESG insurance effect in times of economic crisis
Presenter: Gael IMAD'EDDINE (Universite de Lille - IAE)
Authors: Gael IMAD'EDDINE (Universite de Lille - IAE), Jan-Oliver Strych (Karlsruhe Institute of Technology), Levy Schattmann (Karlsruhe Institute of Technology)
Discussant: Rong Ding (NEOMA Business School)
Blockchains and Cryptos
Room: Amphi 302
Chair: Haibo Jiang (University of Quebec at Montreal)
Machine Learning and the Cross-Section of Cryptocurrency Returns
Presenter: Adam Zaremba (Montpellier Business School)
Authors: Adam Zaremba (Montpellier Business School), Syed Jawad Hussain Shahzad (Montpellier Business School), Barbara Będowska-Sójka (Poznan University of Economics and Business), Nusret Cakici (Fordham University)
Discussant: Xiaozhou Zhou (University of Quebec at Montreal)
Social Media Sentiment and Bitcoin Price Dynamics
Presenter: Xiaozhou Zhou (University of Quebec at Montreal)
Authors: Haibo Jiang (University of Quebec at Montreal), Pan Liu (HEC Montreal), Alexandre F. Roch (University of Quebec at Montreal), Xiaozhou Zhou (University of Quebec at Montreal)
Discussant: Jona Stinner (Witten/Herdecke University)
Proof-of-work consensus under exogenous distress: Evidence from mining shocks in the Bitcoin ecosystem
Presenter: Jona Stinner (Witten/Herdecke University)
Authors: Jona Stinner (Witten/Herdecke University), Marcel Tyrell (Witten/Herdecke University)
Discussant: Florentina Soiman (Université Grenoble Alpes)
The forking effect
Presenter: Florentina Soiman (Université Grenoble Alpes)
Authors: Florentina Soiman (Université Grenoble Alpes), Mathis Mourey (The Hague University of Applied Sciences), Jean-Guillaume Dumas (Université Grenoble Alpes), Sonia Jimenez-Garces (Université Grenoble Alpes)
Discussant: Adam Zaremba (Montpellier Business School)
Pandemics and Financial Markets
Room: Amphi 304
Chair: Selma Bousetta (BSE)
Does ESG matter for the financial resilience of companies? Evidence from US firms during the COVID-19 pandemic
Presenter: Selma Bousetta (BSE University of Bordeaux)
Authors: Selma Bousetta (BSE University of Bordeaux), Hachmi Ben Ameur (INSSEC Grande Ecole, France)
Discussant: Elizabeth Rinde
Access to financial services during the COVID-19 crisis: does bank’s social responsibility matter?
Authors: SANA ZOUARI (University Côte d’Azur)
Discussant: Selma Bousetta (BSE)
Impact of the Covid-19 Pandemic on the U.S. Corporate Bond Market
Presenter: Elizabeth Rinde (Vienna Graduate School of Finance)
Authors: Elizabeth Rinde (Vienna Graduate School of Finance), Rainer Jankowitsch (Vienna University of Economics and Business), Florian Pauer (Vienna University of Economics and Business)
Discussant: SANA ZOUARI
Asset Pricing and Risk Premia
Room: Classroom 311
Chair: Felix Miebs (TH Köln)
Taming Momentum Crashes
Authors: Daniele Bianchi (Queen Mary, University of London), Andrea Depolis (Fulcrum Asset Management), Ivan Petrella (Warwick Business School)
Discussant: Ahmed KHALED FAROUK SOLIMAN
Aggregate Insider Trading in the S&P 500 and the Predictability of International Equity Premia
Authors: Felix Miebs (TH Köln)
Discussant: Ivan Petrella (Warwick Business School)
The Idiosyncratic Volatility of European Stocks: Commonality and Effect on the Market Volatility
Authors: Ahmed KHALED FAROUK SOLIMAN (Université Paris 1 Panthéon Sorbonne), Erwan LE SAOUT (Université Paris 1 Panthéon Sorbonne)
Discussant: Felix Miebs (TH Köln)
17:00 - 18:30
Parallel Sessions III learn more
Banking and Financial intermediation IV
Room: Amphi 304
Chair: Lotta Heckmann-Draisbach
Effects of Consolidation on Network Models of the Financial System
Presenter: Lotta Heckmann-Draisbach (Deutsche Bundesbank)
Authors: Daniel Nevermann (Goethe-Universität Frankfurt), Lotta Heckmann-Draisbach (Deutsche Bundesbank)
Discussant: Pedro Cuadros-Solas (CUNEF Universidad)
Fire Sales and Ex Ante Valuation of Systemic Risk: a Financial Equilibrium Networks Approach
Presenter: Adam Spencer (University of Nottingham)
Authors: Adam Spencer (University of Nottingham), Spiros Bougheas (University of Nottingham)
Discussant: Lotta Heckmann-Draisbach
Banking Supervisory Architecture and Sovereign Risk
Presenter: Pedro Cuadros-Solas (CUNEF Universidad)
Authors: Nuria Suárez (Autonomous University of Madrid), Carlos Salvador (University of Valencia), Pedro Cuadros-Solas (CUNEF Universidad)
Discussant: Adam Spencer
Corporate Governance IV
Room: Amphi 316
Chair: Farooq Ahmad
Political Connections and Shareholder Support
Presenter: Magnus Blomkvist (EDHEC Business School)
Authors: Magnus Blomkvist (EDHEC Business School), Eva Liljeblom (Hanken School of Economics), Anders Löflund (Hanken School of Economics), Etienne Redor (Audencia Business School)
Discussant: Farooq Ahmad
An American in Paris: National Director’s Foreign Experience and Firm Internationalization
Presenter: Nassima Selmane (KEDGE Business School)
Authors: Niels Hermes (University of Groningen), Shibashish Mukherjee (Emlyon Business School), Nassima Selmane (KEDGE Business School)
Discussant: Magnus Blomkvist
Does Democracy Shape International Merger Activity?
Presenter: Farooq Ahmad (SKEMA Business School)
Authors: Farooq Ahmad (SKEMA Business School), Thomas Lambert (Rotterdam School of Management), Jose M. MARTIN FLORES (CUNEF Universidad), Arthur Petit-Romec (Toulouse Business School)
Discussant: Nassima Selmane (KEDGE Business School)
Climate Risk and Assets I
Room: Amphi 302
Chair: Yves Rannou (ESC Clermont Business School,CleRMa)
Green Bond Effects on the CDSMarket
Presenter: Julien Fouquau (ESCP Business School)
Authors: Jung-Hyun AHN (Neoma Business School), Sami Attaoui (Neoma Business School), Julien Fouquau (ESCP Business School)
Discussant: Yves Rannou (ESC Clermont Business School,CleRMa)
Climate Attention and the Cross-Section of EUR Corporate Bond Returns
Presenter: Ricardo Henriquez (KEDGE Business School)
Authors: Ricardo Henriquez (KEDGE Business School), Philippe Bertrand (Aix-Marseille Université, CERGAM EA 4225, AMSE and KEDGE Business School), Christophe Revelli (KEDGE Business School)
Discussant: Julien Fouquau (ESCP Business School)
How to explain SRI funds’ green performance? The influence of investment styles and experience of fund managers
Presenter: Yves Rannou (CleRMa, ESC Clermont BS)
Authors: Yves Rannou (CleRMa, ESC Clermont BS), Mathieu Mercadier (CleRMa, ESC Clermont BS), Amine Boutabba (Université Paris-Saclay), Jinzhao Chen (CleRMa, ESC Clermont BS)
Discussant: Ricardo Henriquez (KEDGE Business School)
Behavioral Finance I
Room: Classroom 216
Chair: Patrick Roger
Finance and intelligence : a survey
Presenter: Patrick Roger (EM STRASBOURG and University of New Caledonia)
Authors: Nicolas Eber (University of Strasbourg), Tristan Roger (ICN Business School), Patrick Roger (EM STRASBOURG and University of New Caledonia)
Discussant: Prince Teye (Université Jean Moulin Lyon 3)
Measuring Firm Complexity
Presenter: Tim Loughran (University of Notre Dame )
Authors: Tim Loughran (University of Notre Dame ), Bill McDonald (University of Notre Dame )
Discussant: Patrick Roger
Information and Financial Markets II
Room: Classroom 218
Chair: Philip Valta (University of Bern)
Stock market reaction to announcements of management changes in listed companies and the impact of national culture
Authors: Loïc DUBOIS (Université de Picardie Jules Verne)
Discussant: Philip Valta (University of Bern)
Fast and Furious: A High-Frequency Analysis of Robinhood Users' Trading Behavior
Presenter: Clément Aymard (HEC Montreal)
Authors: Clément Aymard (HEC Montreal), Tolga Cenesizoglu (HEC Montreal), David Ardia (HEC Montreal)
Discussant: Loïc DUBOIS
Does Insider Trading around Loan Amendments Predict Stock Returns?
Presenter: Philip Valta (University of Bern)
Authors: Philip Valta (University of Bern), Christian Steiner (University of Bern)
Discussant: Clément Aymard (HEC Montreal)
Mutual Funds & Market Microstructure
Room: Classroom 311
Chair: Iryna VERYZHENKO LEBOEUF
Cross-border arbitrage and cross-listed stocks: Evidence from mutual fund flows
Presenter: David Rakowski (University of Texas at Arlington)
Authors: David Rakowski (University of Texas at Arlington), Anh Nguyen (Royal Melbourne Institute of Technology Vietnam), Dave Diltz (Central Michigan University)
Discussant: Stephen Szaura (BI Norwegian School of Business)
Does News, Order Flow, or Illiquidity drive jumps in stock returns? In the day or in the night?∗
Presenter: Yoontae Jeon (McMaster University)
Authors: Yoontae Jeon (McMaster University), Thomas McCurdy (Rotman School of Management, University of Toronto), Stephen Szaura (BI Norwegian School of Business)
Discussant: Iryna VERYZHENKO LEBOEUF
End-of-Day Market Manipulations: Winners and Losers
Authors: Iryna VERYZHENKO LEBOEUF (LIRSA-CNAM), Etienne HARB (ESSCA School of Management, France and La Sagesse University), Nohade NASRALAH (EM Strasbourg and LIRSA-CNAM)
Discussant: David Rakowski (University of Texas at Arlington)
Asset Pricing and Factor Models I
Room: Classroom 315
Chair: Jules Tinang
Resurrecting the Value Factor from its Redundancy
Presenter: Tobias Hemauer (University of St.Gallen)
Authors: Manuel Ammann (University of St.Gallen), Tobias Hemauer (University of St.Gallen), Simon Straumann (WHU - Otto Beisheim School of Management)
Discussant: Ruggero Jappelli
A Preferred-Habitat Model of Repo Specialness
Authors: Ruggero Jappelli (Goethe University Frankfurt and SAFE), Loriana Pelizzon (Goethe University Frankfurt, SAFE, and Ca' Foscari), Marti Subrahmanyam (NYU Stern and NYU Shanghai)
Discussant: Jules Tinang
Consumer heterogeneity, Firms characteristics and risks exposures.
Authors: Jules Tinang (University of Groningen), Samuël Nelemans (University of Groningen)
Discussant: Tobias Hemauer (University of St.Gallen)
Derivatives II
Room: Classroom 317
Chair: Philippe Bertrand
Do ETFs increase the comovements of their underlying assets? Evidence from a switch in ETF replication technique
Presenter: Fabrice Riva (Université Paris-Dauphine - PSL)
Authors: Fabrice Riva (Université Paris-Dauphine - PSL), Thomas Marta (Wilfrid Laurier University - Lazaridis School of Business and Economics)
Discussant: Pooya Hedayatinia (Universite Rennes 1)
Mitigating the Newsvendor Problem through Call Option Contracts in Decentralized Supply Chains
Presenter: Pooya Hedayatinia (Universite Rennes 1)
Authors: Pooya Hedayatinia (Universite Rennes 1), Jean-Laurent Viviani (Universite Rennes 1), Guillaume MASSONNET (IMT-Atlantique), David Lemoine (IMT-Atlantique)
Discussant: Fabrice Riva
Corporate Finance II
Room: Amphi 318
Chair: Radouane Abdoune (Kedge Business School)
Bank Priority and Strategic Debt Restructuring
Authors: Laurent Vilanova (Lyon 2 (Coactis))
Discussant: Joanne Hamet (University of Bordeaux)
Are European SMEs financially constrained? : A systematic literature review
Authors: Jessica Fouilloux-Thomasset (IRGO), Joanne Hamet (IRGO)
Discussant: Laurent Vilanova
08:00 - 08:55
Registration Main Conference and Breakfast -- Day 2 learn more
At the same time: Board of French Finance Association (Private Meeting)
09:00 - 10:30
Parallel Sessions IV learn more
Banking and Financial intermediation V
Room: Amphi 318
Chair: Karima Bouaiss
Digital disruptors at the gate. Does FinTech lending affect bank market power and stability?
Presenter: Nuria Suárez (Universidad Autónoma de Madrid)
Authors: Pedro J. Cuadros-Solas (CUNEF Universidad), Elena Cubillas (Universidad de Oviedo), Carlos Salvador (Universitat de València), Nuria Suárez (Universidad Autónoma de Madrid)
Discussant: Axelle Heyert (University of Strasbourg)
P2P lending under austerity
Authors: Yan Alperovych (emlyon business school), Anantha Divakaruni (University of Bergen), François Le Grand (Rennes School of Business)
Discussant: Nuria Suárez (Universidad Autónoma de Madrid)
The Gender Gap in Trust in Banks
Presenter: Axelle Heyert (University of Strasbourg)
Authors: Axelle Heyert (University of Strasbourg), Laurent Weill (EM Strasbourg Business School)
Discussant: Yan Alperovych
Asset Pricing and Factor Models II
Room: Amphi 320
Chair: jean-Gabriel Cousin
Rivals’ Returns
Authors: Eric De Bodt (NHH), Richard Roll (California Institute of Technology), jean-Gabriel Cousin (IAE Lille)
Discussant: Antoine Giannetti (Florida Atlantic University)
Imposing Time-series Restrictions on Cross-sectional Asset Pricing Regressions: A Note
Presenter: Antoine Giannetti (Florida Atlantic University)
Authors: Antoine Giannetti (Florida Atlantic University)
Discussant: Tobias Hemauer (University of St.Gallen)
A five-factor asset pricing model with enhanced factors
Presenter: Tobias Hemauer (University of St.Gallen)
Authors: Manuel Ammann (University of St.Gallen), Tobias Hemauer (University of St.Gallen), Simon Straumann (WHU - Otto Beisheim School of Management)
Discussant: jean-Gabriel Cousin
Impact Investing and Crises
Room: Classroom 315
Chair: Ya Gao (University of Manitoba)
Not All “Doing Good” Become “Doing Well”: Divergent Channels of ESG Impact on Corporate Innovation
Presenter: Ya Gao (University of Manitoba)
Authors: Sen Zhang (Xi'an Jiaotong University), Ya Gao (University of Manitoba), Jun Wen (Xi'an Jiaotong University), Xiaozhou Zhou (University of Quebec at Montreal)
Discussant: stanislas quelin (Université Lyon 2)
Impact investing : contracting under asymmetric information
Presenter: stanislas quelin (Université Lyon 2)
Authors: stanislas quelin (Université Lyon 2)
Discussant: Shu LIU (City University of Hong Kong)
Helping Hand or Grasping Hand? The Bright Side of Political Connections in Crisis
Presenter: Shu LIU (City University of Hong Kong)
Authors: Shu LIU (City University of Hong Kong), Minggui YU (Zhongnan University of Economics and Law)
Discussant: Ya Gao (University of Manitoba)
Information and Financial Markets III
Room: Classroom 216
Chair: Dan Li
Securities lending and information transmission: a model of endogenous short-sale constraints
Presenter: Andrey Pankratov (Université Laval)
Authors: Andrey Pankratov (Université Laval)
Discussant: Dan Li
Shifting Volumes to the Close: Consequences for Price Discovery and Market Quality
Presenter: Micha Bender (Goethe University Frankfurt)
Authors: Micha Bender (Goethe University Frankfurt), Benjamin Clapham (Goethe University Frankfurt), Benedikt Schwemmlein (Deutsche Bundesbank)
Discussant: Andrey Pankratov (Université Laval)
The Demand-driven Information Market
Authors: Dan Li (Chinese University of Hong Kong, Shenzhen)
Discussant: Benedikt Schwemmlein (Goethe University Frankfurt)
Alternate Financing and Development
Room: Classroom 218
Chair: Ludovic Vigneron (Lumen ULR 4999 IAE Université de Lille)
Does Foreign Institutional Capital Promote Green Growth for Emerging Martket Firms?
Presenter: Sophia Chiyoung Cheong (City University of Hong Kong)
Authors: Sophia Chiyoung Cheong (City University of Hong Kong), Jaewon Choi (University of Illinois and Yonsei University), Sangeun Ha (Copenhagen Business School), Ji Yeol Jimmy Oh (Hanyang University)
Discussant: Ludovic Vigneron (Lumen ULR 4999 IAE Université de Lille)
The process of reward-based crowdfunding campaigns: different ways to succeed or fail
Presenter: Ludovic Vigneron (Lumen ULR 4999 IAE Université de Lille)
Authors: Ludovic Vigneron (Lumen ULR 4999 IAE Université de Lille)
Discussant: Mariya Pulikova (University of Strasbourg)
Going Green? On the Drivers of Individuals’ Green Bank Adoption
Presenter: Mariya Pulikova (University of Strasbourg )
Authors: Maxime Merli (University of Strasbourg ), Jessie Pallud (University of Strasbourg ), Mariya Pulikova (University of Strasbourg )
Discussant: Sangeun Ha (Copenhagen Business School)
Portfolio Management
Room: Classroom 311
Chair: Vincent MILHAU (EDHEC Business School)
Priority of Investment Strategy, Value or Quality?
Presenter: Xiaoquan Jiang (Florida International University)
Authors: Xiaomeng Lu (Georgia College and State University), Xiaoquan Jiang (Florida International University)
Discussant: Natalie Kessler
Exclusive Portfolio Trading in OTC Markets
Authors: Natalie Kessler (Vrije Universiteit Amsterdam), Iman van Lelyveld (De Nederlandsche Bank), Ellen van der Woerd (De Nederlandsche Bank)
Discussant: Vincent MILHAU (EDHEC Business School)
Towards a Normative Framework for Decumulation Investing
Presenter: Vincent MILHAU (EDHEC Business School)
Authors: Vincent MILHAU (EDHEC Business School), Lionel MARTELLINI (EDHEC Business School), Shahyar SAFAEE (Scientific Portfolio)
Discussant: Xiaoquan Jiang (Florida International University)
Corporate Valuation
Room: Amphi 302
Chair: Charles Olivier Amédée-Manesme
Estimating Commercial Property Fundamentals from REIT data
Presenter: Anil Kumar (Aarhus University)
Authors: David Geltner (Massachusetts Institute of Technology (MIT), Center for Real Estate), Anil Kumar (Aarhus University), Alex M. Van de Minne (University of Connecticut)
Discussant: Margaret Fong (HEC Montreal)
The Value of Executive Visibility
Authors: Lora Dimitrova (University of Exeter), Margaret Fong (HEC Montreal)
Discussant: Chi Zhang
Does access to patent information help technological acquisitions? Evidence from patent library openings
Presenter: Chi Zhang (UMass Lowell)
Authors: Connie Mao (Temple University), Yueru Qin (Temple University), Xuan Tian (Tsinghua University), Chi Zhang (UMass Lowell)
Discussant: Anil Kumar (Aarhus University)
Macrofinance I
Room: Amphi 304
Chair: Olesya Grishchencko
Firm Foreign Activity and the Geography of Exchange Rate
Authors: Amir Akbari (McMaster University), Francesca Carrieri (McGill University)
Discussant: Olesya Grishchencko
The Impact of CBDC on a Deposit-dependent Banking System
Authors: Steffen Vollmar (University of Munster), Fabian Wening (University of Munster)
Discussant: Amir Akbari (McMaster University)
Inflation, Real Interest Rates, and the Bond Market: A Study of French Index-Linked Government Bonds
Presenter: Olesya Grishchencko (Federal Reserve Board )
Authors: Olesya Grishchencko (Federal Reserve Board ), Franck Moraux (Universite de Rennes and CREM (UMR 6211))), Olga Pakulyak (Institut Agro Rennes-Angers and SMART (UMR 1302) )
Discussant: Fabian Wening (University of Munster)
Agricultural Finance
Room: Amphi 306
Chair: Julien Cadot
The impact of climate change on the income of wine producers in the Bordeaux region
Authors: Geoffroy Enjolras (CERAG, Université Grenoble Alpes), Jean-Laurent Viviani (CREM, Université Rennes 1)
Discussant: Julien Cadot
The influence of accounting practices on financial performance: Evidence from French farms
Presenter: Hang Yue (CERAG, Université Grenoble Alpes)
Authors: Geoffroy Enjolras (CERAG, Université Grenoble Alpes), Philippe Madiès (CERAG, Université Grenoble Alpes), Hang Yue (CERAG, Université Grenoble Alpes)
Discussant: Jean-Laurent Viviani
Good Co-ops, Bad Co-ops : Financing Cooperatives under Asymmetric Information
Authors: Julien Cadot (ISG International Business School), Arnaud Féral (ISG International Business School)
Discussant: Philippe Madiès
11:00 - 12:30
Round Table 2- Data Quality (ESG) in Asset Management (Sponsored by Candriam) learn more
Amphi 406
Round Table 2: Data Quality (ESG) in Asset Management (Sponsored by Candriam)
Room: Amphi 406
14:00 - 15:30
Parallel Sessions V learn more
Private Equity and Venture Capital II
Room: Classroom 216
Chair: Aurelie Sannajust (Kedge Business School)
Long-Run IPO Performance and the Role of Venture Capital
Presenter: Magnus Blomkvist (EDHEC Business School)
Authors: Magnus Blomkvist (EDHEC Business School), Anup Basnet (University of Surrey), Douglas Cumming (Florida Atlantic University)
Discussant: Aurelie Sannajust (Kedge Business School)
Leave No Money on the Table: Venture Capitalists’ SPAC Exits
Presenter: Aurelie Sannajust (Kedge Business School)
Authors: Aurelie Sannajust (Kedge Business School), Alexander Groh (EmLyon), Juliane Proelss (Concordia University ), Denis Schweizer (Concordia University)
Discussant: Tom Nohel
The Incentives of SPAC Sponsors
Authors: Tom Nohel (Imperial College & Loyola University), Felix Feng (University of Washington), Xuan Tian (Tsinghua University), Wenyu Wang (Indiana University), Yufeng Wu (University of Illinois)
Discussant: Magnus Blomkvist
Stock Returns and Portfolios
Room: Classroom 218
Chair: Jean-Luc PRIGENT
Discovering mutual funds' holdings between disclosure dates
Presenter: Jérémy Bellina (CERAG)
Authors: Jérémy Bellina (CERAG), Isabelle Girerd-Potin (CERAG), Didier Georges (GIPSA Lab)
Discussant: Fredj JAWADI (IAE Lille University School of Management)
Investors’ Emotions and Mean-Reversion in Stock Prices
Presenter: Fredj JAWADI (IAE Lille University School of Management)
Authors: Fredj JAWADI (IAE Lille University School of Management), David Bourghelle (IAE Lille University School of Management), Pascal Grandin (IAE Lille University School of Management), Philippe Rozin (IAE Lille University School of Management)
Discussant: Jean-Luc PRIGENT
On the Diversification and Rebalancing Returns: Performance Comparison of Constant Mix versus Buy-and-Hold Strategies
Authors: Philippe Bertrand (Aix-Marseille Université, CERGAM EA 4225, AMSE and KEDGE Business School), Jean-Luc PRIGENT (THEMA, CY CERGY PARIS University)
Discussant: Jérémy Bellina
Banking and Financial intermediation VI (Sponsored by In Extenso)
Room: Classroom 317
Chair: Joël Petey
IFRS 9 Adoption and Financial Analysts' Earnings Forecast Accuracy: Evidence from European Banks
Presenter: Daniel Taylor (Universite Clermont Auvergne)
Authors: Daniel Taylor (Universite Clermont Auvergne), François Aubert (Universite Clermont Auvergne)
Discussant: Whelsy Boungou (Paris School of Business)
Debt-to-income and Loan-to-value ratios as credit risk indicators: Evidence from France and implications for macroprudential policy.
Authors: Joël Petey (Université de Strasbourg), Michel Dietsch (Université de Strasbourg)
Discussant: Whelsy Boungou (Paris School of Business)
How banks do respond to violence?
Presenter: Whelsy Boungou (Paris School of Business)
Authors: Whelsy Boungou (Paris School of Business), Mahdi Fawaz (BSE - University of Bordeaux), Alhonita Yatié (BSE - University of Bordeaux)
Discussant: Joël Petey
Climate Risk and Assets II
Room: Amphi 320
Chair: Alessandro Ravina (Paris School of Business)
Environmental initiatives and corporate financial distress
Presenter: Stef Nicolae (CEREN EA 7477, Burgundy School of Business)
Authors: Stef Nicolae (CEREN EA 7477, Burgundy School of Business), Dimelis Sophia (Athens University of Economics and Business)
Discussant: Phuong Tram Anh LE (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France)
The impact of extreme climate phenomena on bond returns
Presenter: Alessandro Ravina (Paris School of Business)
Authors: Alessandro Ravina (Paris School of Business)
Discussant: Stef Nicolae (CEREN EA 7477, Burgundy School of Business)
The effects of natural disasters on firm value: Evidence from Hurricane Sandy
Presenter: Phuong Tram Anh LE (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France )
Authors: Phuong Tram Anh LE (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France ), Sylvain Marsat (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France), Guillaume PIJOURLET (Université Clermont Auvergne, CleRMa, Clermont – Ferrand, France)
Discussant: Alessandro Ravina (Paris School of Business)
Macrofinance II
Room: Amphi 302
Chair: Mathis Mourey (The Hague University of Applied Sciences)
Good Contagion: What Do Networks Say about Policy Transmission?
Authors: Kumushoy Abduraimova (Durham University Business School)
Discussant: Mathis Mourey (The Hague University of Applied Sciences)
Macro-Financial Spillovers
Presenter: john cotter (University College Dublin)
Authors: john cotter (University College Dublin)
Discussant: Kumushoy Abduraimova
On the correlation of Systemic Dimensions
Presenter: Mathis Mourey (The Hague University of Applied Sciences)
Authors: Mathis Mourey (The Hague University of Applied Sciences)
Discussant: john cotter (University College Dublin)
Gender and Diversity
Room: Classroom 311
Chair: Emilie Bonhoure (Kedge Business School)
The Value of Skill Signals for Women's Careers
Authors: Leah Zimmerer (University of Mannheim), Alexandra Niessen-Ruenzi (University of Mannheim)
Discussant: Amal Aouadi
Are we facing Social and Economy Zombification? The Impact of Recreational Marijuana Legalization on People’s Cognition, Economic Activity, Business Performance, and Firm Innovation.
Presenter: Geoffrey Ducournau (School of Economics and Management, Tsinghua University)
Authors: Geoffrey Ducournau (School of Economics and Management, Tsinghua University), Jinliang Li (School of Economics and Management, Tsinghua University), Yan Li (Faculty of Business and Economics, University of Hong Kong), Zigan Wang (Faculty of Business and Economics, University of Hong Kong), Qie Ellie Yin (School of Business, Hong Kong Baptist University)
Discussant: Leah Zimmerer
Board gender diversity and Corporate social reputation: Is there really a female premium?
Presenter: Amal Aouadi (IAE LILLE UNIVERSITY SCHOOL OF MANAGEMENT)
Authors: Amal Aouadi (IAE LILLE UNIVERSITY SCHOOL OF MANAGEMENT), Ferdaous Bahri (Le Mans Université)
Discussant: Geoffrey Ducournau (School of Economics and Management, Tsinghua University)
Behavioral Finance II
Room: Amphi 318
Chair: Jean-François Gajewski
Managers internal factors and LBO restructuring decision-making
Presenter: Fidele Balume (Université Jean-Moulin Lyon 3)
Authors: Fidele Balume (Université Jean-Moulin Lyon 3), Jean-François Gajewski (Université Jean-Moulin Lyon 3), Marco Heimann (Université Jean-Moulin Lyon 3)
Discussant: David Feldman (UNSW Sydney)
ENDOGENOUS DYNAMIC CONCENTRATION OF THE ACTIVE FUND MANAGEMENT INDUSTRY, HETEROGENEOUS MANAGER ABILITIES, AND STOCK MARKET VOLATILITY
Presenter: David Feldman (UNSW Sydney)
Authors: Jingrui Xu (Xiamen University), David Feldman (UNSW Sydney)
Discussant: Fidele Balume (Université Jean-Moulin Lyon 3)
Banking and Financial Intermediation VII
Room: Classroom 315
Chair: Hubert Tchakoute (Kedge Business School)
Expected stock returns and loan contracting
Authors: Azizjon Alimov (IESEG School of Management)
Discussant: Alexander Nitschke
Determinants and Effects of Capital Relief Trades
Authors: Alexander Nitschke (University of Münster), Philipp Klein (University of Münster), Andreas Pfingsten (University of Münster)
Discussant: Azizjon Alimov
17:00 - 18:30
Parallel Sessions VI learn more
Financial Markets and Risk Management
Room: Classroom 218
Chair: Killian PLUZANSKI (Amundi)
Market Neutrality and Beta Crashes
Authors: Xia Xu (ESSCA School of Management)
Discussant: Killian PLUZANSKI (Amundi)
Market frictions and hedge fund trading strategies
Presenter: Hamid Babaei (HEC-Uliège)
Authors: Hamid Babaei (HEC-Uliège), Georges Hübner (HEC-Uliège), Marie Lambert (HEC-Uliège), Federico Platania (ISG INTERNATIONAL BUSINESS SCHOOL)
Discussant: Xia Xu
Risk management of margin based portfolio strategies for dynamic portfolio insurance with minimum market exposure
Presenter: Killian PLUZANSKI (Amundi)
Authors: Killian PLUZANSKI (Amundi), Jean-Luc PRIGENT (THEMA)
Discussant: Hamid Babaei (HEC-Uliège)
Asset Pricing and Stock Returns
Room: Classroom 315
Chair: Lorne Switzer (Cpncordia University)
Is there an Equity Duration Premium?
Presenter: Dominik Walter (Vienna Graduate School of Finance (VGSF))
Authors: Rüdiger Weber (Vienna University of Economics and Business (WU Vienna)), Dominik Walter (Vienna Graduate School of Finance (VGSF))
Discussant: Yoontae Jeon (McMaster University)
Stock Return Autocorrelations and Expected Option Returns
Presenter: Yoontae Jeon (McMaster University)
Authors: Yoontae Jeon (McMaster University), Raymond Kan (University of Toronto), Gang Li (CUHK Business School)
Discussant: Lorne Switzer (Cpncordia University)
Inflation, small-cap premia, and the effectiveness of small-cap stocks as a hedge to inflation for G7 countries
Presenter: Lorne Switzer (Cpncordia University)
Authors: Lorne Switzer (Cpncordia University), Alison Cabana Wong (Concordia University)
Discussant: Dominik Walter (Vienna Graduate School of Finance (VGSF))
Behavioral Finance II
Room: Classroom 216
Chair: Inger Daniels (Florida A&M University)
Cognitive Biases Understood from the Eyes: which Impact on Professional Skepticism?
Presenter: Prince Teye (Université Jean Moulin Lyon 3)
Authors: Prince Teye (Université Jean Moulin Lyon 3)
Pessimism toward Diverse Boards: Evidence of Implicit Bias of Analysts?
Presenter: Inger Daniels (Florida A&M University)
Authors: Yingmei Cheng (Florida State University), Inger Daniels (Florida A&M University)
Discussant: Nils Lohmeier
Retail and Institutional Investors’ Historical Purchase Prices: Do they Affect Merger Offer Premiums and Deal Response?
Presenter: Joshua Shemesh (Monash Business School, Department of Banking and Finance)
Authors: Yevgeny Mugerman (School of Business Administration, Bar-Ilan University), Beni Lauterbach (School of Business Administration, Bar-Ilan University), Joshua Shemesh (Monash Business School, Department of Banking and Finance)
Discussant: Inger Daniels (Florida A&M University)
Why Are Opportunistic Stock-Financed Takeovers Accepted?
Presenter: Nils Lohmeier (University of Münster)
Authors: Nils Lohmeier (University of Münster), Christoph Schneider (University of Münster)
Discussant: Joshua Shemesh (Monash Business School, Department of Banking and Finance)
Climate Risk and Assets III
Room: Classroom 317
Chair: Paul-Olivier KLEIN (University of Lyon)
Do Female Executives Acquire Greener Targets?
Presenter: Chang gong (LITEM, Paris-Saclay University; Institut Mines-T´el´ecom Business School)
Authors: Chang gong (LITEM, Paris-Saclay University; Institut Mines-T´el´ecom Business School)
Discussant: Yonghao Xu (School of Finance, Zhongnan University of Economics and Law, China)
Recovering after Natural Disasters: A Stabilizing Role of the Government
Authors: Shu Liu (School of Finance, Zhongnan University of Economics and Law, China), Yonghao Xu (School of Finance, Zhongnan University of Economics and Law, China)
Discussant: Paul-Olivier KLEIN (University of Lyon)
Family Firm Ownership and Carbon Emissions
Presenter: Paul-Olivier KLEIN (University of Lyon)
Authors: Oskar Kowaleski (IESEG School of Managment), Marcin Borsuk (Polish Academy of Sciences), Nicolas Eugster (University of Queensland), Paul-Olivier KLEIN (University of Lyon)
Discussant: Chang gong (LITEM, Paris-Saclay University; Institut Mines-T´el´ecom Business School)
Insurance and Behavioral Finance
Room: Classroom 311
Chair: SELIM MANKAI
ESG as Protection Against Downside Risk
Presenter: Tobi Oladiran (University of Luxembourg)
Authors: Denitsa Stefanova (University of Luxembourg ), Roman Kraussl (University of Luxembourg ), Tobi Oladiran (University of Luxembourg)
Discussant: Yue Xu (Durham University)
Reallocation of Mutual Fund Managers and Capital Raising Ability
Presenter: Yue Xu (Durham University)
Authors: Yue Xu (Durham University)
Discussant: SELIM MANKAI
How Low is the Tail Insurance Demand?
Presenter: SELIM MANKAI (CleRMa UCA)
Authors: SELIM MANKAI (CleRMa UCA), Sébastien Marchand (Cerdi UCA), Ngoc Hà Lé (Cerdi UCA)
Discussant: Tobi Oladiran (University of Luxembourg)