Program 2008

European Winter Finance Summit, April 6-9, 2008

TimePresenterDiscussantTitle
Sunday, April 6
18:00 - 20:00Registration and Welcome Reception
from 20:30Welcome Dinner
Monday, April 7
08:00 - 08:45Susan Christoffersen
Richard Evans
David Musto
Randi Næs
Fund Flows vs. Family Flows: Evidence from the Cross Section of Brokers
09:00 - 15:00Recreational time - skiing
15:30 - 17:00Rui Albuquerque
Enrique Schroth
Bernt Arne Ødegaard Determinants of the Block Premium and of Private Benefits of Control
Andrea Buraschi
Fabio Trojani
Andrea Vedolin
Jacob Laading
The Joint Behavior of Credit Spreads, Stock Options and Equity Returns when Investors Disagree
17:00 - 17:15Coffee Break
17:15 - 18:45Gordon Gemmill
Aneel Keswani
Peter Christoffersen
Idiosyncratic Downside Risk and the Credit Spread Puzzle
Hannelore Brandt
Engelbert Dockner
Rainer Jankowitsch
Stefan Pichler
Anders Øksendal Choice of Rating Technology and Price Formation in Imperfect Credit Markets
18:45 - 19:00Coffee Break
19:00 - 19:45Rajdeep Sengupta
Aksel Mjøs
Lending to Uncreditworthy Borrowers
from 20:00Dinner
Tuesday, April 8
08:00 - 09:00Suresh SundaresanKeynote presentation:
Integrating Dynamic Investment Theory with Financing and Capital Structure
09:00 - 15:00Recreational time - skiing
15:30 - 17:00Christine Parlour
Johan Walden
Paul Ehling
Capital, Contracts and the Cross Section of Stock Returns
Falko Fecht
Kjell G. Nyborg
Jörg Rocholl
Johan Walden
The Price of Liquidity:
Bank Characteristics and Market Conditions
17:00 - 17:15Coffee Break
17:15 - 18:45Randi Næs
Bernt Arne Ødegaard
C. Edward Fee
Liquidity and Asset Pricing:
Evidence on the Role of Investor Holding Period

Andriy Bodnaruk
Per Östberg
Liam Brunt
The Shareholder Base and Pay-Out-Policy
18:45 - 19:00Coffee Break
19:00 - 19:45Piet Sercu
Fang Liu
Svein-Arne Persson
The Forward Puzzle:
The Roles of Exchange-Rate Regime and Base-Currency Strength
from 20:30Dinner
Wednesday, April 9
08:00 - 09:30Giacinta Cestone
Josh Lerner
Lucy White
Peter Molnàr
The design of syndicates in venture capital
Claus Munk
Carsten Sørensen
Espen HenriksenDynamic Asset Allocation with Stochastic Income and Interest Rates
09:30 - 09:45Coffee Break
09:45 - 11:15Muray Carlson
Engelbert Dockner
Adlai Fisher
Ron Giammarino
Kristian R. Miltersen
Leaders, Followers and Risk Dynamics in Industry Equilibrium
Baran SiyahhanEngelbert Dockner
Strategic Role of Debt in Duopoly with Incomplete Information
11:30 - 12:15Stefan Hirth
Marliese Uhrig-Homburg
Jamie Alcock Investment Timing, Liquidity and Agency Cost of Debt