Location: Hotel Alberghaus, Zürs (Austria)
Chairs: Josef Zechner (WU Vienna), Aleksandra Rzeźnik (WU Vienna)
| Sunday, March 17 | |
| 17:00 - 18:00 | Welcome reception and introductory remarks |
| 18:00 - 19:30 | Session 1: Labor and finance Chair: Per Östberg, University of Zurich and SFI |
| Shielding firm value: Employment protection and process innovation J. Bena (University of British Columbia), H. Ortiz-Molina (University of British Columbia), E. Simintzi (UNC Chapel Hill) Discussant: Michael Weber (Chicago Booth) |
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| Unemployment Insurance as a Subsidy to Risky Firms J. Skrastins (Washington University in St. Louis), B. van Doornik (Central Bank of Brazil), D. Fazio (London Business School), D. Schoenherr (Princeton University) Discussant: Alfred Lehar (University of Calgary) |
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| Monday, March 18 | |
| 08:00 - 08:45 | Session 2: Delegated portfolio management Chair: Rainer Jankowitsch, WU Vienna |
| Delegation Uncertainty Y. Li (Ohio State University), C. Wang (Yale University) Discussant: Michaela Pagel (Columbia Business School) |
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| 17:00 – 19:15 | Session 3: Financial intermediation Chair: Kjell Nyborg, University of Zurich and SFI |
| Bank Bonus Pay as a Risk Sharing Contract M. Efing (HEC Paris), H. Hau (University of Geneva and SFI), P. Kampkoetter (University of Tuebingen), J.-C. Rochet (University of Geneva and SFI) Discussant: Ramin Baghai (Stockholm School of Economics) |
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| Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme A. Ertan (London Business School), A. Kleymenova (University of Chicago Booth), M. Tuijn (Erasmus University) Discussant: Rainer Haselmann (Goethe Frankfurt) |
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| Persuasion in Relationship Finance E. Azarmsa (The University of Chicago), L. W. Cong (The University of Chicago) Discussant: Kathy Yuan (London School of Economics and Political Science) |
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| Tuesday, March 19 | |
| 08:00 - 08:45 | Session 4: Funds with frictions Chair: Aleksandra Rzeźnik, WU Vienna |
| Sitting Bucks: Zero Returns in Fixed Income Funds J. Choi (University of Illinois Urbana-Champaign), M. Kronlund (University of Illinois Urbana-Champaign), J. Y. Oh (Hanyang University) Discussant: Giorgia Simion (WU Vienna) |
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| 17:00 – 18:30 | Session 5: Media, politics and asset prices Chair: Stefan Pichler, WU Vienna |
| Stock Price Rewards to Climate Saints and Sinners: Evidence from the Trump Election A. Wagner (University of Zurich), S. Ramelli (University of Zurich), R. Zeckhauser (Harvard University), A. Ziegler (University of Zurich) Discussant: Oliver Boguth (Arizona State University) |
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| Background Noise? TV Advertising Affects Real Time Investor Behavior J. Liaukonyte (Cornell University), A. Zaldokas (HKUST) Discussant: Kasper Meisner Nielsen (Copenhagen Business School) |
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| 18:45 – 19:30 | Session 6: Seasoned equity offerings Chair: Kristian Miltersen, Copenhagen Business School |
| Equity Issuance Methods and Dilution M. Bukart (London School of Economics & Political Science), H. Zhong (London School of Economics & Political Science) Discussant: Evgeny Lyandres (Boston University) |
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| Wednesday, March 20 | |
| 08:00 - 09:30 | Session 7: Asset pricing Chair: Stefan Bogner, WU Vienna |
| Arbitrage Portfolios in Large Panels S. Kim (Georgia Institute of Technology), R. Korajczyk (University of Notre Dame), A. Neuhierl (University of Notre Dame) Discussant: Espen Henriksen (BI Oslo) |
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| The Time Variation in Risk Appetite and Uncertainty G. Bekaert (Columbia University), E. Engstrom (Federal Reserve Board), N. Xu (Boston College) Discussant: Thomas Dangl (TU Vienna) |
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| 09:40 - 10:00 | The Spaengler IQAM Research Center Best Discussant Prize |