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"