Program 2009

European Winter Finance Summit, March 22-25, 2009

TimePresenterDiscussantTitle
Sunday, March 22
18:30 - 19:30Registration and Welcome Reception
from 19:30Welcome Dinner
Monday, March 23
08:00 - 08:15Engelbert DocknerWelcome
08:15 - 09:00Paul EhlingAlexander Mürmann Risk Management with Cash and Insurance in Non-Listed Firms
09:00 - 15:00Recreational time - skiing
15:30 - 17:00Christopher A. Hennessy
Josef Zechner
Giovanna NicodanoLiquidity and Feasible Debt Relief
Christian Koziol
Jochen Lawrenz
Joril MaelandOptimal Design of Rating-Trigger Step-Up Bonds:
Agency Conflicts versus Asymmetric Information
17:00 - 17:15Coffee Break
17:15 - 18:45Kristian R. Miltersen
Walter N. Torous
Baran SiyahhanRisky Corporate Debt with Finite Maturity
Elisa Luciano
Giovanna Nicodano
Jochen LawrenzLeverage, Value, and Firm Scope
18:45 - 19:00Coffee Break
19:00 - 19:45Rajna Gibson
Carmen Tanner
Alexander F. Wagner
Gerlinde FellnerSacred Values in Financial Economic Decision-Making:
Experimental Evidence
from 20:00Dinner
Tuesday, March 24
08:00 - 09:00Harrison HongKeynote presentation: Bubbles and Crises
09:00 - 15:00Recreational time - skiing
15:30 - 17:00Charlotte Ostergaard
Ibolya Schindele
Bent Vale
Avner KalaySocial Capital and the Viability of Nonprofit Firms:
Evidence from Norwegian Savings Banks
Avner Kalay
Shagun Pant
Engelbert DocknerOne Share-One Vote is Unenforceable and Sub-Optimal
17:00 - 17:15Coffee Break
17:15 - 18:45Kurt Hornik
Rainer Jankowitsch
Christoph Leitner
Manuel Lingo
Stefan Pichler
Gerhard Winkler
Mirna MarovicA Latent Variable Approach to Validate Credit Rating Systems
Dieter Hess
Alexander Kempf
Magdalena Malinowska
Thi Ngoc Tuan Bui
Liquidity Provision in Periods of High Information Flow
18:45 - 19:00Coffee Break
19:00 - 19:45Fred Espen Benth
Steen Koekebakker
Valeri Zakamouline
Christian Heyerdahl-Larsen
The CARMA Interest Rate Model
from 20:30Dinner
Wednesday, March 25
08:00 - 09:30Christian Gollier
Alexander Muermann
Ulrich Berger
Optimal Choice and Beliefs With Ex Ante Savoring and Ex Post Disappoinment
Wolf Wagner
Paul Ehling
The Risk of Joint Liquidation and Portfolio Choice: Diversity Instead of Diversification!
09:30 - 09:45Coffee Break
09:45 - 11:15Pietro Perotti
Barbara Rindi
Dieter Hess
Market Makers as Information Providers: The Natural Experiment of STAR
Thi Ngoc Tuan Bui
Piet Sercu
Juliusz Radwanski
Relative Efficiency and Price Discovery in the Two-Tier Brussels Stock Exchange