Program 2012

European Winter Finance Summit, March 11 – 14, 2012

Location: Parkhotel Sunstar, Davos

TimePresenterDiscussantTitle
Sunday, March 11
17:00 - 17:45Welcome Reception
17:45 - 18:00Introductory RemarksKjell Nyborg
18:00 - 19:30SESSION 1Chair: Kjell Nyborg
University of Zurich
Alberto Plazzi
University of Lugano and SFI
Markus Leippold
University of Zurich
Conditional Skewness of Stock Market Returns in Developed
and Emerging Markets and its Economic Fundamentals
Bjørn Eraker
University of Wisconsin
Kristian Miltersen
Copenhagen Business School
Dynamic Present Values and the Intertemporal CAPM
Monday, March 12
08:30 - 09:15SESSION 2Chair: Artur Raviv
Northwestern University
Nils Friewald
WU Vienna
Claudia Moise
Case Western Reserve
The Cross-Section of Credit Risk Premia and Equity Returns
16:15 - 19:30SESSION 3Chair: Joseph Zechner
WU Vienna
Philipp Valta
HEC Paris
Jesse Wang
University of Zurich
Competitive Pressure and Corporate Policies
Emilia Garcia-Appendini
Bocconi University
Alex Wagner
University of Zurich
Firms as Liquidity Providers: Evidence from the 2007-2008 Financial Crisis
Jacob Boudoukh
Arison School of Business, IDC Herzlia
Henrik Hasseltoft
University of Zurich
A New Look at the Forward Premium Puzzle
Pedro Barroso
NOVA School of Business and Economics
Harald Hau
University of Geneva
Beyond the Carry Trade: Optimal Currency Portfolios
Tuesday, March 13
08:15 - 08:45SESSION 4Chair: Kjell Nyborg
University of Zurich
Toni Whited
University of Rochester
Keynote lectureEquity Market Misvaluation and Firm Financial Policies
16:15 - 19:30SESSION 5Chair: Alex Murmann
WU Vienna
Marius Jurgilas
Norges Bank
Falko Fecht
European Business School
Implicit Intraday Interest Rate in the UK Unsecured Overnight Money Market
Abassi Puriya
Deutsche Bundesbank
Per Östberg
University of Zurich
Liquidity of Financial Markets and the Demand for Reserves
András Danis
WU Vienna
Abraham Ravid
Yeshiva University, New York
Do Empty Creditors Matter? Evidence from Distressed Exchange Offers
Nishant Dass
Georgia Institute of Technology
Robert Hauswald
American University
Conflicts of Interest and Financial Contracts: Evidence from Syndicated Loans
Wednesday, March 14
08:30 - 11:15SESSION 6Chair: Per Östberg
University of Zurich
Johannes Skjeltorp
Norges Bank
Neal Stoughton
WU Vienna
Sunshine trading: Flashes of trading intent at the NASDAQ
Semyon Malamud
Swiss Federal Institute of Technology
Stefan Pichler
WU Vienna
Optimal Incentives and Securitization of Defaultable Assets
Ron Anderson
London School of Economics
Einar Bakke
University of Gothenburg
Agency, Firm Growth, and Managerial Turnover
Final Words