Program 2026

S U N D A Y, March 15
17:45 - 18:30Session 1 - Corporate Finance. Chair: Kristian Miltersen (Copenhagen Business School)
17:45 - 18:30Newspaper Closures and Trading in Local Stocks
Jasmin Gider (Tilburg University)
Discussant: Gustavo Schwenkler (Santa Clara University)
Dinner
M O N D A Y, March 16
15:30 - 16:00Coffee, snacks and light refreshments, foyer of Caesar Ritz (next to the bar)
16:00 - 17:30Session 2 - Currencies. Chair: Philipp Lentner (WU Vienna)
16:00 - 16:45Exchange Rate Expectations and Currency Demand
Leonie Bräuer (University of Geneva)
Discussant: Avi Wohl (Tel Aviv University)
16:45 - 17:30International Currency Competition
Amanda Dos Santos (NYU Stern)
Discussant: Ye Li (University of Washington, Foster School of Business)
17:45 - 20:00Session 3 - Markets and Intermediation. Chair: Jonathan Berk (Stanford)
17:45 - 18:30Intraday Liquidity Management and the Value of Flexibility
Stefan Gissler (Federal Reserve Board)
Discussant: Jiri Woschitz (Norwegian Business School)
18:30 - 19:15Margins as Canaries in the Coal Mine
Martin Oehmke (LSE)
Discussant: Jamie Coen (Imperial College)
19:15 - 20:00When Flexibility Becomes Forbearance: Payment-In-Kind in Private Credit
Paul Rintamäki (Frankfurt School of Finance & Management)
Discussant: Zexi Wang (Lancaster University)
20:15Dinner
T U E S D A Y, March 17
07:30 - 09:45Session 4 - Asset Pricing: Predictability. Chair: Rüdiger Weber (Goethe University Frankfurt)
07:30 - 8:15Learning About Discount Rates
Olivier Dessaint (INSEAD)
Discussant: Jonathan Berk (Stanford)
08:15 - 09:00When Can Positive Return Autocorrelation Arise in Rational Expectations Models?
Wen Chen (Texas Tech University)
Discussant: Cameron Peng (LSE)
09:00 - 09:45Information Processing Efficiently, Analyst Behavior, and Predictable Returns
Hongwei Mo (University of Oxford)
Discussant: Rossen Valkanov (Rady School of Management)
16:00 - 16:30Coffee, snacks and light refreshments, foyer of Caesar Ritz (next to the bar)
16:30 - 18:00Session 5 - Asset Pricing 2. Chair: Kjell Nyborg (University of Zurich)
16:30 - 17:15Infrastructure Capacity, Risk, and Firm Value: Evidence from U.S. Electricity Tightness
David Licher (Imperial College)
Discussant: Paul Ehling (Norwegian Business School)
17:15 - 18:00A Model-Free Assessment of the Importance of Subjective Beliefs for Asset Pricing
Paymon Khorrami (Duke University)
Discussant: Bjørn Eraker (Wisconsin School of Business)
18:30Transfer
19:00Fondue Dinner at the Alphütte
W E D N E S D A Y, March 18
08:15 - 09:45Session 6 - Public-Private Interaction. Chair: Rossen Valkanov (Rady School of Management)
08:15 - 09:00Financially Constrained Procurement
Emilio Bisetti (Hong Kong University of Science & Technology)
Discussant: Kornelia Fabisik (University of Bern)
09:00 - 09:45Green Waste: (Mis)Allocation of Green Investment Subsidies
Tom Meling (Ohio State University)
Discussant: Francesca Zucchi (European Central Bank)
09:50 - 10:15Sudipto Bhattacharya Memorial Prize