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Academic Sessions |
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Stock and Bond Pricing in an Affine Economy Geert Bekaert (Columbia University)
Steven Grenadier (Stanford University)
Discussant: Hongjun Yan (London Business School)
Revisiting the Shape of the Yield Curve: The Effect of Interest Rate Volatility Charlotte Christiansen (Aarhus School of Business)
Jesper Lund (Nykredit Bank)
Discussant: Andreas Reschreiter (University of Durham)
'Maximal' Convenience Yield Model Implied by Commodity Futures Jaime Casassus (Carnegie Mellon University and Pontificia Universidad Catolica de Chile)
Pierre Collin-Dufresne (Carnegie Mellon University)
Discussant: Stanley E. Zin (Carnegie Mellon University)
Courts and Banks: Effects of Judicial Enforcement on Credit Markets Marco Pagano (Università di Salerno)
Tullio Jappelli (Università di Salerno)
Magda Bianco (Banca d'Italia)
Discussant: Ulrich Hege (HEC School of Management)
Corporate Governance, Capital Market Discipline and the Returns on Investment Klaus Gugler (Universität Wien)
Dennis Müller (Universität Wien)
Burcin Yurtoglu (Universität Wien)
Discussant: Elazar Berkovitch (The Interdisciplinary Center Herzliya)
Investor Protection and Earnings Management: An International Comparison Christian Leuz (University of Pennsylvania)
Peter D. Wysocki (University of Michigan - Ann Arbor)
Dhananjay Nanda (University of Michigan Business School)
Discussant: Elroy Dimson (London Business School)
Do Bank Risk Management and Regulatory Policy Reduce Risk in Banking? Loriana Pelizzon (London Business School and Università di Padova)
Stephen Schaefer (London Business School)
Discussant: Robert Bliss (Federal Reserve Bank of Chicago)
Market Forces at Work in the Banking Industry: Evidence from the Capital Buildup of the 1990s Kasturi Rangan (Case Western Reserve University)
Mark J. Flannery (University of Florida)
Discussant: Alistair Milne (City University Business School)
Contestability, Technology and Banking Reint E. Gropp (Europäische Zentralbank)
Sandrine Corvoisier (Europäische Zentralbank)
Discussant: Ingolf Dittmann (Humboldt-Universität zu Berlin)
Career Concerns of Analysts: Compensation, Termination, and Performance Xi Li (Vanderbilt University)
Discussant: Jennifer L. Juergens (Arizona State University)
Do Security Analysts Exhibit Persistent Differences in Stock Picking Ability? Richard Willis (Duke University)
Michael B. Mikhail (Duke University)
Beverly R. Walther (Northwestern University)
Discussant: Gregor Andrade (Harvard University)
Buy-side Analysts, Sell-side Analysts, and Information Transmission: Theory and Evidence Jun Qian (Boston College)
Huanliang Liu (Boston College)
Yingmei Cheng (Florida State University)
Discussant: Xi Li (Vanderbilt University)
Capital Structure and Real Assets: Effects of an Implicit Collateral to Debt Holders Christian Riis Flor (University of Southern Denmark)
Discussant: Josef Zechner (Universität Wien)
Columbus Egg: The Real Determinant of Capital Structure Ivo Welch (Yale University)
Discussant: Vidhan K. Goyal (Hong Kong University of Science & Technology)
Firm Performance, Capital Structure and the Tax Benefits of Employee Stock Options Kuldeep Shastri (University of Pittsburgh)
Kathleen M. Kahle (University of Pittsburgh)
Discussant: Tim Adam (Hong Kong University of Science & Technology)
Shareholder Diversification and the Value of Control Martin Holmen (Uppsala Universitet)
Richard Heaney (Australian National University)
Discussant: Marc Deloof (University of Antwerp)
Crushed by a Rational Stampede: Strategic Share Dumping and Shareholder Insurrections Mukarram Attari (University of Wisconsin at Madison)
Suman Banerjee (Tulane University)
Thomas H. Noe (Tulane University)
Discussant: Amir Rubin (University of British Columbia)
Votes Without Dividends: Managerial Control through Bank Trust Departments Renée B. Adams (Federal Reserve Bank of New York)
Joao C. Santos (Federal Reserve Bank of New York)
Discussant: Susan Christoffersen (Mc Gill University)
Dietmar P. J. Leisen (Mc Gill University)
Kenneth L. Judd (Stanford University)
Discussant: Siegfried Trautmann (Johannes Gutenberg-Universität Mainz)
Local Expected Shortfall-hedging Marco Schulmerich (Johannes Gutenberg-Universität Mainz)
Siegfried Trautmann (Johannes Gutenberg-Universität Mainz)
Discussant: Kay Giesecke (Humboldt-Universität zu Berlin)
William N. Goetzmann (Yale University)
Jonathan Ingersoll (Yale University)
Matthew Spiegel (Yale University)
Ivo Welch (Yale University)
Discussant: Elisa Luciano (Università di Torino)
Rational Asset Pricing Implications from Realistic Trading Frictions Jean-Pierre Zigrand (London School of Economics)
Discussant: Peter L. Swan (University of New South Wales)
Fabio Trojani (University of Southern Switzerland)
Paolo Vanini (University of Southern Switzerland)
Discussant: Umberto Cherubini (Università di Bologna)
Pierre Collin-Dufresne (Carnegie Mellon University)
Robert S. Goldstein (Ohio State University)
Discussant: Frank De Jong (University of Amsterdam)
The Jarrow/Turnbull Default Risk Model - Evidence from the German Market Leopold Sögner (Wirtschaftsuniversität Wien)
Manfred Frühwirth (Wirtschaftsuniversität Wien)
Discussant: Terry Cheuk (University of Hong Kong)
Default Compensator, Incomplete Information, and the Term Structure of Credit Spreads Kay Giesecke (Humboldt-Universität zu Berlin)
Discussant: Joost Driessen (University of Amsterdam)
Is Default Event Risk Priced in Corporate Bonds? Joost Driessen (University of Amsterdam)
Discussant: Ilya A. Strebulaev (London Business School)
Cooperation in International Banking Supervision: A Political Economy Approach Cornelia Holthausen (Europäische Zentralbank)
Thomas Roende (Universität Mannheim)
Discussant: Antje Brunner (Humboldt-Universität zu Berlin)
Anup Agrawal (University of Alabama)
Sahiba Chadha (University of Alabama)
Discussant: Richard Willis (Duke University)
Market Response to European Regulation of Business Combinations Nihat Aktas (Université Catholique de Louvain)
Richard Roll (University of California - Los Angeles)
Eric de Bodt (Université Catholique de Louvain)
Discussant: Kuldeep Shastri (University of Pittsburgh)
Momentum Investing and Business Cycle Risk: Evidence from Pole to Pole Spencer Martin (Arizona State University)
Discussant: Stefan Nagel (London Business School)
Momentum and Turnover: Evidence from the German Stock Market Markus Glaser (Universität Mannheim)
Martin Weber (Universität Mannheim)
Discussant: Roger Otten (Maastricht University)
Do Countries or Industries Explain Momentum in Europe? Marno Verbeek (Erasmus University Rotterdam)
Theo E. Nyman (Tilburg University)
Laurens Swinkels (Tilburg University)
Discussant: Jennifer Conrad (University of North Carolina at Chapel Hill)
Tax Management Strategies with Multiple Risky Assets Michael F. Gallmeyer (Carnegie Mellon University)
Ron Kaniel (University of Texas at Austin)
Stathis Tompaidis (University of Texas at Austin)
Discussant: Bruce Grundy (University of Melbourne)
Gene Amromin (University of Chicago)
Discussant: Richard Stapleton (University of Strathclyde)
Some Evidence that a Tobin Tax on Foreign Exchange Transactions may Increase Volatility Bhagwan Chowdhry (University of California - Los Angeles)
Robert Aliber (University of Chicago)
Shu Yan (University of Arizona)
Discussant: Ney O. Brito (Ney O. Brito & Associados and IAFEI - International Association of Finance Executive Institutes)
Are Two Investors Better than One? Peter Simmons (University of York)
Anna Maria C. Menichini (Università di Salerno)
Discussant: Jun Qian (Boston College)
Are European Corporations Fleecing Minority Shareholders? Results from a New Empirical Approach Gilberto Loureiro (Universidade do Minho)
Jose Guedes (Universidade Catolica Portuguesa)
Discussant: Claudio F. Loderer (Universität Bern)
Managerial Labour Market and Governance Role of Shareholder Control Structures in the UK Grzegorz Trojanowski (Tilburg University)
Luc Renneboog (Tilburg University)
Discussant: Lixin Colin Xu (The World Bank)
Stochastic Volatility and Seasonality in Commodity Futures and Options: The Case of Soybeans Carsten Sorensen (Copenhagen Business School)
Martin Christian Richter (Copenhagen Business School)
Discussant: Pradeep K. Yadav (University of Strathclyde)
Stochastic Volatility for Lévy Processes Hélyette Geman (Université Paris IX Dauphine & ESSEC)
Peter Carr (Bank of America Securities)
Dilip B. Madan (University of Maryland)
Marc Yor (Université Paris VI)
Discussant: Robert Tompkins (Technische Universität Wien)
Modelling Extreme-value Dependence in International Stock Markets Ser-Huang Poon (University of Strathclyde)
Michael Rockinger (HEC School of Management)
Jonathan Tawn (Lancaster University)
Discussant: Stefan R. Jaschke (Weierstraß-Institut für Angewandte Analysis und Stochastik)
Governance and Boards of Directors in Closed-end Investment Companies Larry Dann (University of Oregon)
M. Megan Partch (University of Oregon)
Diane Del Guercio (University of Oregon)
Discussant: Gordon Gemmill (City University Business School)
Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows Masahiro Watanabe (Yale University)
William N. Goetzmann (Yale University)
Stephen Brown (New York University)
Takato Hiraki (International University of Japan)
Noriyoshi Shiraishi (Rikkyo University)
Discussant: Marno Verbeek (Erasmus University Rotterdam)
Competition and Intervention in Sovereign Debt Markets Stanley E. Zin (Carnegie Mellon University)
Bernhard Paasche (International Monetary Fund)
Discussant: Franz Hubert (Humboldt-Universität zu Berlin)
Expropriation Risk and Return in Global Equity Markets Magnus Dahlquist (Duke University and Centre for Economic Policy Research)
Ravi Bansal (Duke University)
Discussant: Richard Stehle (Humboldt-Universität zu Berlin)
The World Price of Earnings Opacity Hazem Daouk (Cornell University)
Utpal Bhattacharya (Indiana University)
Discussant: Ronald E. Shrieves (University of Tennessee)
Quality of Information and Volatility Around Earnings Announcements Suleiman R. Mohamed (The Institute of Finance Management, Dar es Salaam)
Pradeep K. Yadav (University of Strathclyde)
Discussant: Hazem Daouk (Cornell University)
Insider Trading and Corporate Control Structures: Evidence from The U.K. Jana P. Fidrmucova (Tilburg University)
Luc Renneboog (Tilburg University)
Discussant: Arturo Bris (Yale University)
Market Timing and Managerial Portfolio Decisions Dirk C. Jenter (MIT Sloan School of Management)
Discussant: Viral V. Acharya (London Business School)
On Valuation Before and After Tax in No Arbitrage Models: Tax Neutrality in the Discrete Time Model Bjarne Astrup Jensen (Copenhagen Business School)
Discussant: Robert McDonald (Northwestern University)
The Tax (Dis)Advantage of a Firm Issuing Options on Its Own Stock Robert McDonald (Northwestern University)
Discussant: Simon Benninga (Tel Aviv University)
Bank Mergers, Competition and Liquidity Philipp Hartmann (Europäische Zentralbank)
Giancarlo Spagnolo (Universität Mannheim)
Elena Carletti (Universität Mannheim)
Discussant: Juergen Weigand (WHU Otto-Beisheim-Hochschule Koblenz)
Shareholder Wealth Effects in the Cross-Border Market for Corporate Control Ajay Patel (Wake Forest University)
David R. Kuipers (Texas Tech University)
Darius Miller (Indiana University)
Discussant: Lawrence Goldberg (University of Miami)
Why Firms Use Non-linear Hedging Strategies Tim Adam (Hong Kong University of Science & Technology)
Discussant: Andrea Gamba (Università di Verona)
Real Options Valuation: A Monte Carlo Approach Andrea Gamba (Università di Verona)
Discussant: Grzegorz Pawlina (Tilburg University)
Output and Expected Returns - A Multicountry Study Jesper Rangvid (Copenhagen Business School)
Discussant: Christian T. Lundblad (Indiana University)
Investors' Activity and Trading Behavior Petri Kyröläinen (University of Oulu)
Jukka Perttunen (University of Oulu)
Discussant: Ning Gong (University of Melbourne)
Do Macroeconomic Announcements Cause Asymmetric Volatility? Peter De Goeij (Katholieke Universiteit Leuven)
Wessel Marquering (Erasmus University Rotterdam)
Discussant: Charlotte Christiansen (Aarhus School of Business)
Is Debt Maturity Determined by Asymmetric Information about Short-term or Long-term Earnings? Petra Danisevska (Erasmus University)
Discussant: Cesário Mateus (Aarhus School of Business)
The Role of Target Leverage in Security Issues and Repurchases Armen Hovakimian (Baruch College)
Discussant: Petra Danisevska (Erasmus University)
Contingent Control Rights and Managerial Incentives: The Design of Long-term Debt Zsuzsanna Fluck (Michigan State University)
Discussant: Yrjö Koskinen (Stockholm School of Economics)
Agency Costs, Bank Specialness and Renegotiation Sreedhar T. Bharath (New York University)
Discussant: Andreas Pfingsten (Westfälische Wilhelms-Universität Münster)
Lazy Entrepreneurs or Dominant Banks? An Empirical Analysis of the Market for SME Loans in the UK Robert Cressy (City University of London)
Otto Toivanen (Helsinki School of Economics)
Discussant: Cesare Robotti (Federal Reserve Bank of Atlanta)
Viral V. Acharya (London Business School)
Anthony Saunders (New York University)
Iftekhar Hasan (New Jersey Institute of Technology)
Discussant: Reint E. Gropp (Europäische Zentralbank)
The Reach of the Disposition Effect: Large Sample Evidence Across Investor Classes Raymond R. da Silva Rosa (University of Western Australia)
Terry Walter (University of New South Wales)
Philip Brown (University of Western Australia)
Nick Chappel (University of Sydney)
Discussant: Robert Bartels (University of Sydney)
Dying Out or Dying Hard? Disposition Investors in Stock Markets Andreas Oehler (Universität Bamberg)
Klaus Heilmann (Universität Bamberg)
Volker Laeger (Universität Bamberg)
Michael Oberländer (Universität Bamberg)
Discussant: Markus Glaser (Universität Mannheim)
Disappointment, Pessimism and the Equity Risk Premia Nicolas Nalpas (HEC Montréal)
Thierry Chauveau (Université Paris I Panthéon-Sorbonne)
Discussant: Jean-Pierre Zigrand (London School of Economics)
Downside Correlation and Expected Stock Returns Joseph Chen (University of Southern California)
Andrew Ang (Columbia University and NBER)
Yuhang Xing (Columbia University)
Discussant: Lubos Pastor (University of Chicago)
Bankruptcy Happens: A Study of the Mechanics of Distress-driven CAPM Anomalies Carlos A. Mello-e-Souza (Seattle University)
Discussant: Frans De Roon (Tilburg University)
Market Integration and Contagion Geert Bekaert (Columbia University)
Angela Ng (Hong Kong University of Science & Technology)
Campbell R. Harvey (Duke University)
Discussant: Joseph Chen (University of Southern California)
Repeated Dilution of Diffusely Held Debt Ulrich Hege (HEC School of Management)
Pierre Mella-Barral (London Business School)
Discussant: Christian Riis Flor (University of Southern Denmark)
Legal Environment, Capital Structure and Firm Growth. International Evidence from Industry Data Natalia Utrero Gonzalez (Universidad Carlos III)
Discussant: Radislav Semenov (University of Nijmegen)
Limited Liability Rules, Financial Innovation and Capital Structure Complexity Michel Robe (American University)
Discussant: Ernst Maug (Humboldt-Universität zu Berlin)
Testing Weak-form Efficiency of the Russian Stock Market Natalja V. Abrosimova (University of Cambridge)
Dirk Linowski (University of Nijmegen)
Discussant: Peter Hecht (Harvard University)
Does Risk or Mispricing Explain the Cross-section of Stock Prices? Tuomo Vuolteenaho (Harvard University)
Randolph Cohen (Harvard University)
Christopher Polk (Northwestern University)
Discussant: Thierry Post (Erasmus University)
Behavior and Performance of Investment Newsletters Analysts Vicente Pons (Yale School of Manegement)
Alok Kumar (Cornell University)
Discussant: Raghavendra P. Rau (Purdue University)
Hedging Non-tradable Risk with Instantaneous Forward Contracts Rafal Wojakowski (Lancaster University)
Discussant: Antje Dudenhausen (Universität Bonn)
Hedging with Forwards and Puts in Complete and Incomplete Markets Casper Oosterhof (University of Groningen)
Simon Benninga (Tel Aviv University)
Discussant: Rafal Wojakowski (Lancaster University)
Effectiveness of Hedging Strategies under Model Misspecification and Trading Restrictions Antje Dudenhausen (Universität Bonn)
Discussant: Marco Schulmerich (Johannes Gutenberg-Universität Mainz)
Asymmetry of Information in Emerging Markets: Should a Firm Issue Its Securities Locally or Abroad? Nuno C. Martins (Universidade Nova de Lisboa and Bank of Portugal)
Discussant: Peter Groznik (Indiana University)
On the Strength of the US Dollar: Can it Be Explained by Output Growth? Peter Vlaar (De Nederlandsche Bank)
Discussant: Juha Junttila (University of Oulu)
An Evaluation of International Asset Pricing Models Magnus Dahlquist (Duke University and Centre for Economic Policy Research)
Torbjörn Sällström (Stockholm School of Economics)
Discussant: Ian Cooper (London Business School)
On the Strategic Use of Corporate Venture Financing for Securing Demand Armin Schwienbacher (Université de Namur)
Yohannes E. Riyanto (National University of Singapore)
Discussant: Ronen Israel (The Interdisciplinary Center Herzliya)
Start-up Financing: Banks vs. Venture Capital Augustin Landier (University of Chicago)
Discussant: Hans Hvide (NHH)
The Effect of Capital Market Characteristics on the Value of Start-up Firms Roman Inderst (London School of Economics)
Holger Müller (New York University)
Discussant: Frank Niemeyer (Universität Bonn)
Interjurisdictional Company Taxation in Europe, the German Reform and the New EU Suggested Direction Marcel Gérard (Facultés Universitaires Catholiques de Mons FUCaM)
Discussant: Bjarne Astrup Jensen (Copenhagen Business School)
Classical Corporation Tax as a Global Means of Tax Harmonization Jouko Ylä-Liedenpohja (University of Tampere)
Seppo Kari (Government Institute for Economic Research)
Discussant: Marcel Gérard (Facultés Universitaires Catholiques de Mons FUCaM)
Start-ups, Venture Capitalists, and the Capital Gains Tax Soren Bo Nielsen (Copenhagen Business School)
Christian Keuschnigg (University of St. Gallen)
Discussant: Jouko Ylä-Liedenpohja (University of Tampere)
Market Quality and Trader Behavior in a Manipulated Market: Anatomy of a Squeeze John Merrick (Baruch College)
Narayan Y. Naik (London Business School)
Pradeep K. Yadav (University of Strathclyde)
Discussant: Craig Pirrong (Oklahoma State University)
Dealer Behaviour and Market Quality when Insiders Trade David Hillier (University of Strathclyde)
Narayan Y. Naik (London Business School)
Pradeep K. Yadav (University of Strathclyde)
Discussant: Ian Tonks (University of Bristol)
Institutional Trading Costs and Alternative Trading Systems Jennifer Conrad (University of North Carolina at Chapel Hill)
Kevin M. Johnson (Aronson+Partners)
Sunil Wahal (Emory University)
Discussant: Oliver Hansch (Penn State University)
Is Learning a Dimension of Risk? Andrei Simonov (Stockholm School of Economics)
Massimo Massa (INSEAD)
Discussant: Piet Sercu (Katholieke Universiteit Leuven)
Jennifer L. Juergens (Arizona State University)
Eric Ghysels (University of North Carolina at Chapel Hill)
Discussant: Günter Franke (Universität Konstanz)
Information and the Cost of Capital Maureen O'Hara (Cornell University)
David Easley (Cornell University)
Discussant: Karl Ludwig Keiber (WHU Otto-Beisheim-Hochschule Koblenz)
An Empirical Investigation of the Rank Correlation Between Different Risk Measures Carsten Hahn (Westfälische Wilhelms-Universität Münster)
Andreas Pfingsten (Westfälische Wilhelms-Universität Münster)
Peter Wagner (Westfälische Wilhelms-Universität Münster)
Discussant: Ser-Huang Poon (University of Strathclyde)
Risk Management for Derivatives in Illiquid Markets: A Simulation Study Rüdiger Frey (Universität Leipzig)
Pierre Patie (ETH Zürich)
Discussant: Nicole Branger (Johann Wolfgang Goethe-Universität Frankfurt/M.)
Asset Price Dynamics with Value-at-Risk Constrained Traders Jón Danielsson (London School of Economics)
Jean-Pierre Zigrand (London School of Economics)
Hyun Song Shin (London School of Economics)
Discussant: Siegfried Trautmann (Johannes Gutenberg-Universität Mainz)
The Price of Inflation and Foreign Exchange Risk in International Equity Markets Cesare Robotti (Federal Reserve Bank of Atlanta)
Discussant: Bruno Gerard (Norwegian School of Management)
Cross-country Differences in Stock Market Development: A Cultural View Eelke de Jong (University of Nijmegen)
Radislav Semenov (University of Nijmegen)
Discussant: Astrid Eisenberg (WHU Otto-Beisheim-Hochschule Koblenz)
Characterizing Asymmetric Information in International Equity Markets Gregory H. Bauer (University of Rochester)
Rui A. Albuquerque (University of Rochester)
Martin Schneider (University of California)
Discussant: Gaston Gelos (International Monetary Fund)
Price Support by Underwriters in Initial and Seasoned Public Offerings Ekkehart Boehmer (New York Stock Exchange, Inc.)
Raymond Fishe (University of Miami)
Discussant: Robert Hansen (Tulane University)
Aftermarket Short Covering and the Pricing of IPOs Andreas Park (University of Cambridge)
Björn Bartling (Ludwig-Maximilian-Universität München)
Discussant: Nuno C. Martins (Universidade Nova de Lisboa and Bank of Portugal)
Discounting and Underprincing in Seasoned Equity Offers Robert Hansen (Tulane University)
Oya Altinkilic (University of Pittsburgh)
Discussant: Christoph Kaserer (Technische Universität München)
Dividend Policy Inside the Firm Mihir Desai (Harvard University)
C. Fritz Foley (National Bureau of Economic Research)
James R. Hines (National Bureau of Economic Research)
Discussant: Efrat Tolkowsky (Technion - Israel Institute of Technology)
Tax Policy Changes and Ex-dividend Behavior: The Case of Sweden Sven-Olov Daunfeldt (Umea University)
Discussant: Kristian Rydqvist (Binghamton University)
The Market for Record-date Ownership Susan Christoffersen (Mc Gill University)
Christopher Geczy (University of Pennsylvania)
David Musto (University of Pennsylvania)
Adam V. Reed (University of North Carolina)
Discussant: Jan Felix Meschke (Arizona State University)
Price Impact Costs and the Limit of Arbitrage Masahiro Watanabe (Yale University)
Werner Stanzl (Yale University)
Zhiwu Chen (Yale University)
Discussant: Frank De Jong (University of Amsterdam)
Do Dealer Firms Manage Inventory on a Stock-by-stock or a Portfolio Basis? Pradeep K. Yadav (University of Strathclyde)
Narayan Y. Naik (London Business School)
Discussant: Avi Wohl (Tel Aviv University)
Towards Deep and Liquid Markets: Lessons from the Open and Close at the London Stock Exchange Ian Tonks (University of Bristol)
Andrew Ellul (Indiana University)
Hyun Song Shin (London School of Economics)
Discussant: Patrik Sandås (University of Pennsylvania)
Risk Management with Benchmarking Lucie Teplá (INSEAD)
Suleyman Basak (London Business School)
Alex Shapiro (New York University)
Discussant: Juan-Pedro Gómez López (Norwegian School of Management)
Optimal Contracts for Teams of Money Managers Pegaret Pichler (Boston College)
Discussant: Renée B. Adams (Federal Reserve Bank of New York)
International Portfolio Diversification: Industry, Country, and Currency Effects Revisited Frans De Roon (Tilburg University)
Bruno Gerard (Norwegian School of Management)
Pierre Hillion (INSEAD)
Discussant: Peter C. Schotman (Maastricht University)
Pricing Vulnerable Options with Copulas Elisa Luciano (Università di Torino)
Umberto Cherubini (Università di Bologna)
Discussant: Eric Benhamou (Goldman Sachs International)
Non-redundant Options in a Dynamic General Equilibrium Economy Harjoat Bhamra (London Business School)
Raman Uppal (London Business School)
Leonid Kogan (MIT)
Discussant: Gianluca Cassese (Università Commerciale "Luigi Bocconi")
Option-implied Risk Aversion Estimates: Robustness and Patterns Robert Bliss (Federal Reserve Bank of Chicago)
Nikolaos Panigirtzoglou (Bank of England)
Discussant: Stephen J. Taylor (Lancaster University)
Idiosyncratic Consumption Risk and the Cross-section of Asset Returns Kris Jacobs (McGill University)
Kevin Q. Wang (University of Toronto)
Discussant: Yuming Li (City University of Hong Kong)
Consumption Habit and International Stock Returns Yuming Li (City University of Hong Kong)
Maosen Zhong (University of Texas at Brownsville)
Discussant: Jesper Rangvid (Copenhagen Business School)
Growth Volatility and Equity Market Liberalization Christian T. Lundblad (Indiana University)
Geert Bekaert (Columbia University)
Campbell R. Harvey (Duke University)
Discussant: Gaston Gelos (International Monetary Fund)
Tai Ma (National Sun Yat-sen University)
Pei Ru Tsai (National Sun Yat-sen University)
Discussant: Francois Derrien (University of Toronto)
Issuers, Underwriters and Institutional Investors: Why They All Like the Book-building IPO Procedure Francois Derrien (University of Toronto)
Discussant: Alexander Stomper (Universität Wien)
Structuring the IPO: Empirical Evidence on the Primary and Secondary Portion Cynthia Van Hulle (Katholieke Universiteit Leuven)
Nancy Huyghebaert (Katholieke Universiteit Leuven)
Discussant: Wolfgang Aussenegg (Technische Universität Wien)
Diversification Discount or Premium? New Evidence from BITS Establishement-level Data Belén Villalonga (Harvard University)
Discussant: Armen Hovakimian (Baruch College)
Joao F. Cocco (London Business School)
Jan Mahrt-Smith (London Business School)
Discussant: Martin Holmen (Uppsala Universitet)
Christian Laux (London School of Economics)
Roman Inderst (London School of Economics)
Discussant: Mihir Desai (Harvard University)
Markku Vieru (University of Oulu)
Discussant: Christophe Bisière (University of Perpignan)
Investor Awareness and Market Segmentation: Evidence from S&P 500 Index Changes Gregory Noronha (Arizona State University West)
Honghui Chen (University of Baltimore)
Vijay Singal (Virginia Polytechnic Inst. & State Univ.)
Discussant: Ingolf Dittmann (Humboldt-Universität zu Berlin)
Imperfect Competition in Financial Markets: ISLAND vs. NASDAQ Christophe Bisière (University of Perpignan)
Bruno Biais (Université de Toulouse)
Chester Spatt (Carnegie Mellon University)
Discussant: Gregory Noronha (Arizona State University West)
Portfolio Efficiency and Discount Factor Bounds with Conditioning Information: A Unified Approach Alexander Stremme (University of Warwick)
Abhay Abhyankar (University of Warwick)
Devraj Basu (University of Warwick)
Discussant: Alessandro Sbuelz (Tilburg University)
Model Misspecification and Under-diversification Raman Uppal (London Business School)
Tan Wang (University of British Columbia)
Discussant: David Feldman (Ben-Gurion University of the Negev)
Long Term Portfolio Strategy Given Uncertain Personal Savings Richard Stapleton (University of Strathclyde)
Günter Franke (Universität Konstanz)
Sandra Peterson (University of Strathclyde)
Discussant: Gene Amromin (University of Chicago)
Exotics and Electrons: Electric Power Crises and Financial Risk Management Suman Banerjee (Tulane University)
Thomas H. Noe (Tulane University)
Discussant: Hélyette Geman (Université Paris IX Dauphine & ESSEC)
The Price of Power: The Valuation of Power and Weather Derivatives Craig Pirrong (Oklahoma State University)
Martin Jermakyan (ElectraPartner.com)
Discussant: Thomas H. Noe (Tulane University)
Modelling Electricity Prices: International Evidence Pablo Villaplana (Universidad Carlos III de Madrid)
Alvaro Escribano (Universidad Carlos III de Madrid)
Juan Ignacio Peña (Universidad Carlos III de Madrid)
Discussant: Cyriel De Jong (Erasmus University)
Crony Lending in Thailand Before the Financial Crisis Yupana Wiwattanakantang (Hitotsubashi University)
Raja Kali (University of Arkansas)
Chutatong Charumilind (Cornell University)
Discussant: Olesya V. Grishchenko (New York University)
Budget Constraints and Profitability: Evidence from a Transition Economy Marian Rizov (Katholieke Universiteit Leuven)
Discussant: Carlos A. Mello-e-Souza (Seattle University)
What Drives Equity Returns in Central and Eastern Europe Magdalena Sokalska (Warsaw School of Economics)
Discussant: Dirk Linowski (University of Nijmegen)
Mispricing in IPO Methods and the Predictive Ability of Investors' Interest for New Issues Salim Chahine (Audencia-Nantes)
Discussant: Vicente Pons (Yale School of Manegement)
Who Knows What When? - The Information Content of Pre-IPO Market Prices Gunter Löffler (Johann Wolfgang Goethe-Universität Frankfurt/M.)
Erik Theissen (Universität Bonn)
Patrick F. Panther (Commerzbank AG)
Discussant: Carsten Kruppe (Humboldt-Universität zu Berlin)
Sticky Prices: IPO Pricing on Nasdaq and the Neuer Markt Alexander Stomper (Universität Wien)
Wolfgang Aussenegg (Technische Universität Wien)
Pegaret Pichler (Boston College)
Discussant: Imre Kiss (Humboldt-Universität zu Berlin)
Allocation of Decision-making Authority Milton Harris (University of Chicago)
Artur Raviv (Northwestern University)
Discussant: Sudipto Dasgupta (Hong Kong University of Science & Technology)
Volker Laux (Johann Wolfgang Goethe-Universität Frankfurt/M.)
Discussant: Andreas Park (University of Cambridge)
Internal Capital Markets: The Insurance-contagion Trade-off Ulrich Hege (HEC School of Management)
Lorand Ambrus-Lakatos (Central European University)
Discussant: Belén Villalonga (Harvard University)
An Examination of Heterogeneous Beliefs with a Short Sale Constraint Michael F. Gallmeyer (Carnegie Mellon University)
Burton Hollifield (Carnegie Mellon University)
Discussant: Marcel Rindisbacher (University of Toronto)
Multiple Unit Auctions and Short Squeezes Ilya A. Strebulaev (London Business School)
Kjell G. Nyborg (London Business School)
Discussant: Björn Bartling (Ludwig-Maximilian-Universität München)
Amir Rubin (University of British Columbia)
Alan Kraus (University of British Columbia)
Discussant: Benjamin Croitoru (McGill University)
Managers, Workers, and Corporate Control Paolo F. Volpin (London Business School)
Marco Pagano (Università di Salerno)
Discussant: Sanjay Banerji (McGill University)
Thomas Chemmanur (Boston College)
Imants Paeglis (Concordia University)
Discussant: Micah Officer (University of Southern California)
Peter L. Swan (University of New South Wales)
Gerald Garvey (Claremont Graduate University)
Discussant: Gilberto Loureiro (Universidade do Minho)
Measuring Private Information Trading in Emerging Markets Olesya V. Grishchenko (New York University)
Jianping Mei (New York University)
Lubomir P. Litov (New York University)
Discussant: Eva Liljeblom (Swedish School of Economics & Business Administration)
Modelling the Implied Probability of Stock Market Declines Martin Scheicher (Österreichische Nationalbank)
Ernst Glatzer (Österreichische Nationalbank)
Discussant: Stefan Straetmans (Maastricht University)
Forecasting Sterling/Dollar Volatility: Implied Volatilities versus Long Memory Intraday Models Shiu-yan Pong (Lancaster University)
Stephen J. Taylor (Lancaster University)
Mark Shackleton (Lancaster University)
Xinzhong Xu (Lancaster University)
Discussant: Theo E. Nyman (Tilburg University)
Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations Kjell G. Nyborg (London Business School)
Ilya A. Strebulaev (London Business School)
Ulrich Bindseil (Europäische Zentralbank)
Discussant: Witold Rutkowski (Higher School of Economics and Arts in Skierniewice)
The Impact of the Euro on Foreign Exchange Rate Risk Exposures Söhnke M. Bartram (Lancaster University)
Stefanie Kleimeier-Ros (Universiteit Maastricht)
Andrew Karolyi (Ohio State University)
Discussant: Pål E. Korsvold (Norwegian School of Management)
Foreign Exchange Markets' Perceptions of EMU Participation by Finland, France, Italy, and Portugal Bernd Wilfling (HWWA Hamburg)
Discussant: Haakon O. Solheim (Norwegian School of Management)
Competition and Strategic Information Acquisition in Credit Markets Robert Hauswald (University of Maryland)
Robert Marquez (University of Maryland)
Discussant: Gabriella Chiesa (Università di Bologna)
Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring Antje Brunner (Humboldt-Universität zu Berlin)
Jan Pieter Krahnen (Johann Wolfgang Goethe-Universität Frankfurt/M.)
Discussant: Clas Wihlborg (Copenhagen Business School)
The Optimal Concentration of Creditors Arturo Bris (Yale University)
Ivo Welch (Yale University)
Discussant: Itzhak Swary (Tel Aviv University)
The Impact of Bankruptcy Rules on Risky Project Choice and Skill Formation under Credit Rationing Clas Wihlborg (Copenhagen Business School)
Shubhashis Gangopadhyay (Indian Statistical Institute, Delhi Centre and SERFA)
Discussant: Eric de Bodt (Université Catholique de Louvain)
Financial Constraints and Investment-Cash Flow Sensitivity Zhangkai Huang (University of Oxford)
Discussant: Urs Peyer (INSEAD)
Corporate Cash Holdings: An Empirical Investigation of UK Companies Aydin Ozkan (University of York)
Neslihan Ozkan (University of Liverpool)
Discussant: Turki Alshimmiri (Kuwait University)
Transparency, Liquidity and Price Formation Barbara Rindi (Università Bocconi)
Discussant: Alexander Guembel (University of Oxford)
The Information Content of the Demand and Supply Schedules of Stocks Avi Wohl (Tel Aviv University)
Avner Kalay (Tel Aviv University)
Discussant: Masahiro Watanabe (Yale University)
Kristian Rydqvist (Binghamton University)
Matti Keloharju (Helsinki School of Economics)
Kjell G. Nyborg (London Business School)
Discussant: Alexei Goriaev (Tilburg University)
Stock Based Compensation: Firm-specific Risk, Efficiency and Incentives Vicky Henderson (University of Oxford)
Discussant: Tom Berglund (Swedish School of Economics & Business Administration)
The Equity Mix in Executive Compensation: An Investigation of Cross-country Differences Ajay Patel (Wake Forest University)
Robert Nash (Wake Forest University)
Stephen Bryan (Wake Forest University)
Discussant: Sahiba Chadha (University of Alabama)
Ronald E. Shrieves (University of Tennessee)
Pengjie Gao (University of Tennessee)
Discussant: Levon Babalyan (University of Fribourg)
The Relation Between Implied and Realised Probability Density Functions Robert Tompkins (Technische Universität Wien)
Iliana Anagnou (University of Warwick)
Mascia Bedendo (University of Warwick)
Stewart Hodges (University of Warwick)
Discussant: Martin Mandler (Justus-Liebig-Universität Gießen)
Martin Mandler (Justus-Liebig-Universität Gießen)
Discussant: Matthias R. Fengler (Humboldt-Universität zu Berlin)
Yongmiao Hong (Cornell University)
Haitao Li (Cornell University)
Discussant: Martin Christian Richter (Copenhagen Business School)
U.S. Exchange Rates and Currency Flows Dagfinn Rime (Norges Bank and Stockholm Institute for Financial Research)
Discussant: Bernd Wilfling (HWWA Hamburg)
Linear and Nonlinear Exchange Rate Exposure and the Price of Exchange Rate Risk Bernt Arne Odegaard (Norwegian School of Management)
Richard Priestley (Norwegian School of Management)
Discussant: S& | |||