Past finance research seminars
Spring 2015
4th March 2015: Joel Shapiro (Saïd Business School)
"Credit ratings and structured finance"
11th March 2015: Karin Thorburn (Norwegian School of Economics)
"Are stock-financed takeovers opportunistic"
18th March 2015: Beatriz Garcia Osma (U. Autonoma de Madrid)
"Accounting Conservatism and the limits to earnings management""
1st April 2015: Jonathan Reuter (Boston College)
"Is Conflicted Investment Advice Better than No Advice?"
Autumn 2014
29 September 2014 (Monday): Xavier Vives (IESE Business School, University of Navarra)
"Strategic Complementarity, Fragility, and Regulation"
8 October 2014: Bjorn Jorgensen (The London School of Economics and Political Science)
"Aggregate CEO Compensation, Aggregate Performance and Relative Performance Evaluation"
15 October 2014: Vojislav Maksimovic (Robert H Smith School, University of Maryland)
"What determines entrepreneurial outcomes across the world? Role of initial conditions"
22 October 2014: Jose M. Liberti (Kellstadt Graduate School of Business, DePaul University)
"Information, Credit and Organization"
29 October 2014: Alexander Ljungqvist (New York University, Stern School of Business)
"How Constraining Are Limits to Arbitrage?"
5 November 2014: Lubos Pastor (The University of Chicago Booth School of Business)
"Do Funds Make More When They Trade More?"
12 November 2014: Ludovic Phalippou (Saïd Business School, University of Oxford)
"Estimating Private Equity Returns from Limited Partner Cash Flows"
17 November 2014 (Monday): Carole Comerton-Forde (The University of Melbourne)
"Dark Trading and Price Discovery"
19 November 2014: Pierre Collin-Dufresne (Swiss Finance Institute, Ecole Polytechnique Fédérale de Lausanne)
"Insider Trading, Stochastic Liquidity and Equilibrium Prices"
26 November 2014: Andrew Ellul (Kelley School of Business, Indiana University)
"Employment and Wage Insurance within Firms: Worldwide Evidence"
1 December 2014 (Monday): James Brugler (University of Cambridge and Bank of England)
"Dark Trading and Intraday Market Quality"
3 December 2014: David Veenman (Erasmus University Rotterdam)
"Earnings Expectations and the Dispersion Anomaly"
10 December 2014: Lukas Schmid (Fuqua School of Business, Duke University)
"Sticky Leverage"
Summer 2014
12 May 2014: Wei Jiang (Columbia Business School)
'Blood and Money: Kin Altruism, Governance, and Inheritance in the Family Firm'
14 May 2014: Ralph Koijen (London Business School)
'Shadow Insurance'
21 May 2014: Hendrik Bessembinder (David Eccles School of Business, University of Utah)
'Market Making Obligations and Firm Value'
4 June 2014: Peter Joos (Morgan Stanley)
'Can Analysts Assess Fundamental Risk and Valuation Uncertainty?
An Empirical Analysis of Scenario-Based Value Estimates'
11 June 2014: Thomas Noe (Oxford University)
'Blood and Money: Kin altruism, governance, and inheritance in the family firm'
16 June 2014: Adam Reed (University of North Carolina)
'Revealing shorts: an examination of large short position disclosures'
18 June 2014: Micah Officer (Loyola Marymount University)
'Currency appreciation shocks and shareholder wealth creation in crossborder mergers and acquisitions'
25 June 2014: Vikrant Vig (London Business School)
'The Limits of Model-Based Regulation'
30 June 2014: Kai Li (Sauder School of Business, University of British Columbia)
'National Culture, Corporate Governance Practices, and Firm Performance'
Spring 2014
5 February 2014: Thomas Noe (University of Oxford)
'Blood and Money: Kin Altruism, Governance, and Inheritance in the Family Firm'
19 February 2014: James Ohlson (New York University, Stern School of Business)
'A Comparison of Chinese and US Firms' Profitability'
26 February 2014: Daniel Ferreira (London School of Economics and Political Science)
'Misallocation of Talent in Competitive Labour Markets'
3 March 2014: Markus Brunnermeier (Princeton University)
'Hot Money, Sudden Stops and Pecuniary Externalities: A Rationale for Capital Controls'
12 March 2014: Tarun Ramadorai (University of Oxford)
'Home Away from Home? Safe Haven Effects and London House Prices'
17 March 2014: Oliver Hart (Harvard University)
'Banks Are Where The Liquidity Is'
26 March 2014: Stephen Pennman (Columbia University)
'Book Rate-of-Return, Risk, and the Information Conveyed by Conservative Accounting'
31 March 2014: Christian Wagner (Copenhagen Business School)
'The Cross-Section of Credit, Variance, And Skewness Risk'
9 April 2014: Jonathan Berk (Stanford Graduate School of Business)
'Measuring Skill in the Mutual Fund Industry'
16 April 2014: Wei Xiong (Princeton University)
'Learning about the Neighbourhood: A Model of Housing Cycles'
Autumn 2013
9 October 2013: Marcin Kacperczyk (Imperial College London) 'Do Security Analysts Discipline Credit Rating Agencies?'
16 October 2013: Chris Hennessy (London Business School)
'A Demand-Side Theory of ABS Design'
23 October 2013: Hanno Lustig (University of California, Los Angeles)
'The Term Structure of Currency Carry Trade Risk Premia'
28 October 2013: Holger Mueller (New York University, Stern School of Business)
'Capital and Labor Reallocation Inside Firms'
6 November 2013: Francois Derrien (HEC Paris)
'The effects of investment banks rankings: Evidence from M&A league tables'
13 November 2013: Eli Fich (Drexel University)
'Analyst Coverage and Acquisition Gains: An Empirical Analysis'
20 November 2013: Murillo Campello (Cornell University)
'Is the Stock Market Just a Side Show? Evidence from Structural Reform'
27 November 2013: Jean Charles Rochet (University of Zurich)
'How to Finance Systemic Institutions'
4 December 2013: Scott Richardson (London Business School)
'Asset Volatility'
Summer 2013
29 May 2013: Mark Flannery (University of Florida)
'The Effect of Bank Shocks on Corporate Financing and Investment: Evidence from 2007-2009 Financial Crisis'
5 June 2013: Alex Edmans (Wharton, University of Pennsylvania)
'The Real Effects of Disclosure'
12 June 2013: Frank de Jong (Tilburg University)
'Price Effects of Sovereign Debt Auctions in the Euro-zone: The Role of the Crisis'
Spring 2013
30 January 2013: Rau Raghu (University of Cambridge)
'Initial public debt offerings'
6 February 2013: Phil Berger (University of Chicago)
'The Strategic Bias Hypothesis for Analyst Underreaction to Earnings News'
13 February 2013: Andrew Karolyi (Cornell, visiting University of Cambridge)
'The Role of Investability Restrictions on Size, Value, and Momentum in International Stock Returns'
27 February 2013: Jens Jackwerth (Konstanz University)
'Total Benefit'
6 March 2013: Laurence van Lent (Tilburg University)
'Status and Discretionary Bonus Payments: Evidence from a Chinese
Hospital'
13 March 2013: Franklin Allen (Wharton, University of Pennsylvania)
'Deposits and Bank Capital Structure'
20 March 2013: Jarrad Harford (University of Washington)
'Do Financial Analysts Play a Monitoring Role? Evidence from Natural Experiments'
27 March 2013: Toni Whited (University of Rochester)
'Estimating the Effects of Contracting Frictions'
Autumn 2012
(Thursday) 13 September 2012: Steven Ross (Sloan School of Management, MIT)
10 October 2012: Bruno Biais (Toulouse University)
25 October 2012: Mungo Wilson (Oxford University)
"Asset Pricing - A Tale of Two Days"
31 October 2012: Daniel Paravisini (LSE)
"The Information and Agency Effects of Scores: Randomized Evidence from Credit Committees"
7 November 2012: Kathy Yuan (LSE)
"Network Risk and Key Players: A Structural Analysis of Interbank Liquidity"
(Tuesday) 13 November 2012: Ilia D. Dichev (Emory University)
"Earnings Quality: Evidence from the Field"
14 November 2012: Robert Marquez (Boston University)
"Private Equity Fund Returns and Performance Persistence"
21 November 2012: Tanju Yorulmazer (NY Fed)
"Has Financial Innovation Made the World Riskier? CDS, Regulatory Arbitrage and Systemic Risk"
28 November 2012: Lakshmanan Shivakumar (London Business School)
"Aggregate Earnings Surprises and Inflation Forecasts"
Summer 2012
9 May 2012: David Thesmar (HEC Paris)
'Categorization Bias in the Stock Market'
23 May 2012: Katherine Schipper (Duke University)
'Evidence that Market Participants Assess Recognized and Disclosed Items Similarly when Reliability is not an Issue'
29 May 2012: Christian Leuz (University of Chicago Booth Business School)
'Mandatory IFRS Reporting and Changes in Enforcement'
6 June 2012: Antonio Garcia-Ferrer (Autonomous University of Madrid)
'Coincident and Leading Indicators using Factor Linear Harmonic Regression Models'
13 June 2012: Moez Bennouri (Rouen Business School)
'Does Auditors' Reputation 'Discourage' Related-Party Transactions? The French Case'
27 June 2012: Irene Karamanou (University of Cyprus)
'Sleeping with the Enemy: Should Investment Banks be Entitled to Engage in Prop Trading?'
Spring 2012
25 January 2012: Gianfranco Siciliano (Duke University)
'The Effect of IFRS on the Usefulness of Earnings Announcements'
1 February 2012: Per Ostberg (Zurich University)
'Money and Liquidity in Financial Markets'
8 February 2012: Santiago Carbo (University of Granada)
'Lending Relationships and Credit Rationing: The Impact of Securitization'
15 February 2012: Rene Garcia (EDHEC Business School)
'Robust Assessment of Hedge Fund Performance Through Nonparametric Discounting'
22 February 2012: Harjoat Bhamra (Imperial College Business School & Sauder School of Business at University of British Columbia)
'Asset Prices with Heterogeneity in Preferences and Beliefs'
7 March 2012: Dimitri Vayanos (London School of Economics)
'A Theoretical Analysis of Momentum and Value Strategies'
14 March 2012: Roberta Dessi (Toulouse School of Economics)
'Innovation, Spillovers and Venture Capital Contracts'
16 March 2012: Richard Roll (UCLA, Anderson School of Management)
'Volatility, Correlation, and Spread Exchange Traded Funds as Factors'
21 March 2012: Craig Burnside (Duke University)
28 March 2012: Jose Miguel Gaspar (ESSEC Business School)
'Payout Policy Choices and Shareholder Investment Horizons'
Autumn 2011
5 October 2011: Efrem Castelnuovo (University of Padova)
'Monetary Shocks, Cholesky Identification, and DSGE Models: An Empirical Investigation for the US'
12 October 2011: Nikolaus Hautsch (Berlin University)
'On the Dark Side of the Market: Identifying and Analyzing Hidden Order Placements'
19 October 2011: Paolo Colla (Bocconi University, Milan)
'Debt Specialization'
26 October 2011: Aleksandar Andonov (Maastricht University)
'Can Large Pension Funds Beat the Market? Asset Allocation, Market Timing, Security Selection and the Limits of Liquidity'
2 November 2011: Steven Monahan (INSEAD)
'Selecting an Accounting-based Valuation Model'
9 November 2011: Holger Daske (University of Mannheim)
'Fair Value Reclassifications of Financial Assets during the Financial Crisis'
16 November 2011: Vikas Agarwal (Georgia State University)
'Window Dressing in Mutual Funds'
23 November 2011: Raman Uppal (EDHEC Business School)
'Asset Prices in General Equilibrium with Transactions Costs and Recursive Utility'
30 November 2011: Andrea Caggese (Pompeu Fabra University)
'Financing Constraints, Firm Dynamics, Export Decisions, and Aggregate Productivity'
7 December 2011: Mark Bradshaw (Boston College)
'Accounting Method Heterogeneity and Analysts' Forecast Errors'
Summer 2011
4th May 2011: Christian Wagner (Vienna University of Economics and Business)
'The Cross-Section of Credit Risk Premia and Equity Returns'
11th May 2011: Douglas A. Shackleford (University of North Carolina)
'Taxes and the Clustering of Foreign Subsidiaries'
18th May 2011*: Daniel Thornton (Federal Reserve Bank of St. Louis)
'The Unusual Behaviour of the Federal Funds Rate and Treasury Yields: A Conundrum or an Instance of Goodhart's Law?'
25th May 2011: Fabio Fornari (European Central Bank)
'Do Carry Traders care about Macroeconomic Shocks? (and are they right?)'
8th June 2011: Ralph de Haas (European Bank for Reconstruction and Development)
Seminars
12:45-14:00, Room 2005
Cass Business School Lunch & light refreshments available at 12:30 on the 2nd Floor Milling Area
*Room 2006. Seminar starts at 4.00pm
Refreshments available at 3.45pm in 2nd Floor Milling Area
Spring 2011
4th May 2011: Christian Wagner (Vienna University of Economics and Business)
'The Cross-Section of Credit Risk Premia and Equity Returns'
11th May 2011: Douglas A. Shackleford (University of North Carolina)
'Taxes and the Clustering of Foreign Subsidiaries'
18th May 2011*: Daniel Thornton (Federal Reserve Bank of St. Louis)
'The Unusual Behaviour of the Federal Funds Rate and Treasury Yields: A Conundrum or an Instance of Goodhart's Law?'
25th May 2011: Fabio Fornari (European Central Bank)
'Do Carry Traders care about Macroeconomic Shocks? (and are they right?)'
8th June 2011: Ralph de Haas (European Bank for Reconstruction and Development)
Seminars
12:45-14:00, Room 2005
Cass Business School Lunch & light refreshments available at 12:30 on the 2nd Floor Milling Area
*Room 2006. Seminar starts at 4.00pm
Refreshments available at 3.45pm in 2nd Floor Milling Area
Pre 2010
2010
6 October: Stephen Young (Lancaster University Management School) Negative Earnings Surprises and the Cockroach Effect: Evidence From Sell-side Analysts
13 October: Dragana Cvijanovic (London School of Economics) What Firm's Address says about its Debt - Land Price and Firm Capital Structure
20 October: Voljislav Maksimovic (University of Maryland) Public and Private Merger Waves
27 October: Antoine Renucci (University of Paris Dauphine) Bargaining with Venture Capitalists when Bank Financing is an Endogenous Opportunity
3 November: Marcelo Fernandes (Queen Mary University) Tailing Tail Risk in the Hedge Fund Industry
10 November: Paul Schneider (University of Warwick) Understanding the Skew in Index Option Prices
17 November: Sylvain Bourjade (Toulouse Business School) Collusion in Boards of Directors
24 November: Sanjay Banerji (University of Essex) Incentives and Experts: The Role of Expertise in Corporate Reorganizations
19 May: Mark Shackleton (Lancaster University) NPV Systems, Flexibility Values and Discount Matrices
28 May: Zhi Da (University of Notre Dame) Decomposing Short-Term Return Reversal
2 June: Steven Ongena (Tilburg University) Credit Supply: Identifying Balance-Sheet Channels with Loan Applications and Granted Loans
9 June: George Skiadopoulos (University of Piraeus) Asset Allocation with Option-Implied Distributions: A Forward-Looking Approach
10 June: Xia Chen (University of Wisconsin-Madison) Does Increased Board Independence Reduce Earnings Management? Evidence from Recent Regulatory Reforms
3 February: Walter Distaso (Imperial College London) International Market Links and Volatility Transmission
10 February: Michael Dempster (University of Cambridge) Modelling Long Term Commodity Futures
17 February: Michael Moore (Queens University) Private Information and the Monetary Model of Exchange Rates: Evidence from a Novel Data Set
3 March: (11am-12pm) Anh L. Tran (Drexel University) On the Importance of Golden Parachutes
3 March: Kevin Aretz (Lancaster University Management School) How Does A Firm's Default Risk Affect Its Expected Equity Return?
10 March: Uli Hege (HEC, Paris) The Role of Private Equity in Corporate Asset Sales: Theory and Evidence
17 March: Kabir Dutta (CRA International) "Application of Tukey's Exploratory Data Analysis in Financial Risk Management: Case of Market and Operational risk"
24 March: William Shaw (Kings College) "Hybrid Brownian Motion: a Model for Price Feedback and Volatility Explosion"
2009
7 October: Ravi Jagannathan (Kellogg School of Management) Informed Trading, Liquidity Provision, and Stock Selection by Mutual Funds
14 October: Suleyman Basak (London Business School) Strategic Asset Allocation in Money Management
21 October: Rafal Wojakowski (Lancaster University Management School) Participating Mortgages and the Efficiency of Financial Intermediation
28 October: Ana-Maria Dimitri and Giovanni Urga (Cass Business School) A Note on Jumps and Price Discovery in the US Treasury Market
4 November: Carol Osler (Brandeis International Business School) Overconfidence in Currency Markets
11 November: Rick Johnston (Fisher College of Business, Ohio State University) Securities and Exchange Commission Comment Letters: Enforcing Accounting Quality and Disclosure
18 November: Sudi Sudarsanam (Cranfield School of Management) Impact of Takeover Regulation on Merger Arbitrage in the UK
25 November: Hannes Wagner (Bocconi University) The Life Cycle of Family Ownership: A Comparative Study of France, Germany, Italy and the UK
2 December: Yuval Millo (London School of Economics and Political Science) Resources or Power? Social Networks, Executive and Outside Director Compensation
28 January: Jay Muthuswamy (Kent State University) Non-synchronicity in Asset Prices and Incorrect Rejections of Market Efficiency
4 February: Bart Lambrecht (Lancaster University)Capital Structure, Liquidity and Transferable Human Capital in Competitive Equilibrium
18 February: Dagfinn Rime (Norwegian Central Bank) Information in the Interbank Foreign Exchange Market
25 February: Francisco Gomes (London Business School) Fiscal Policy in an Incomplete Markets Economy
4 March: Daniel Ferreira (LSE) Unbundling Ownership and Control
11 March: Gilles Chemla (Tankaka Business School, Imperial College) Hedging and Vertical Integration in Electricity Markets
18 March: Alex Taylor (Manchester Business School) Estimating Equity Risk Premia from the Corporate Bond Market
1 April: Garen Markarian (IE Business School) Income Smoothing and Idiosyncratic Volatility
8 April: Uwe Wystup (Frankfurt School of Finance and Management) Efficient Evaluation and Hedging of FX Basket Options with Smile
2008
21April - Stephen Figlewski (Stern, NYU)
"Estimating the Implied Risk Neutral Density for the US Market Portfolio"
07May - Vicky Kiosse (Lancaster University)
"How does the Market Price Pension Accruals?"
14 May - Marco Wilkens (Ingolstadt School of Management)
"Quantifying the Interest Rate Risk of Banks Using Accounting Based Data"
21 May - Jeroen van den Berg (Maastricht University)
"Modelling Exchange Rate Tensions: a Dynamic Duration Approach"
28 May - Dimitris Petmezas (University of Surrey)
"Can Public Acquisitions create value for acquiring firms' shareholders? Worldwide Evidence"
04 June - Geoff Meeks (Cambridge University)
"(Mis-) informing the stock market: the case of takeover bidders"
11 June - Sergei Guriev (New Economic School, Moscow)
"The Resource Curse: A Corporate Transparency Channel"
16 January 2008 - Devin Shanthikumar (Harvard Business School, USA)
"After a Restatement: The Long-Run Market and Investor Response"
23 January 2008 - Charles Kahn (University if Illinois, USA)
"Endogenous Financial Fragility and Prudential Reception"
30 January 2008 - Patrick Gagliardini (Lugano University)
"Nonlinear Errors in Factor Models"
6 February 2008 - Jason Sturges (London Business School)
"The Valuation Effects of Multinational Firms"
13 February 2008 - Kjell Nyburg (Norwegian School of Economics and Business)
"The Price of Liquidity: Bank Characteristics and Market Conditions"
20 February 2008 - Rachel Campbell (Maastricht University)
27 February 2008 - Antonio Freitas Miguel (ISTE Lisbon)
"The Determinants of Mutual Fund Performance: A Cross-Country Study"
5 March 2008 - Richard Payne (Bristol University)
"Post-trade Anonymity, Liquidity and Execution Costs"
12 March 2008 - Helena Liu (Essex University)
"Pricing Interest Rate Options"