28th Meeting at Stephen M. Ross School of Business, University of Michigan (Spring 2023)

May 05 - May 06, 2023

Ann Arbor, University of Michigan

The FTG Spring 2023 Meeting will be held at Michigan Ross on May 5-6, 2023. The regular meeting will be on Saturday, May 6. On Friday, May 5, there will be informal short presentation sessions and small group dinners. If there is excess demand for presentation slots in the informal sessions, we will allocate slots randomly. The meeting will be held in-person only, subject to any unforeseen circumstances. The meeting is organized by Andrey Malenko, Nadya Malenko, and Uday Rajan, and is sponsored by the Mitsui Life Financial Research Center at Michigan Ross.

Transportation and Directions:
Ann Arbor is located about 25 miles from the Detroit Metro Airport (DTW). The most convenient way to get to Ann Arbor from DTW is to take Uber or Lyft, which typically costs $50-$60 and takes about 30 minutes.
Suggested Accommodations:
We have reserved blocks of rooms for conference participants at Ross Executive Learning and Conference Center ($167 per night) and Kensington Hotel ($134 per night). Ross Executive Center is conveniently located right at Michigan Ross, but it is only available for Friday and Saturday nights. If you arrive on Thursday, we recommend staying at Kensington Hotel and taking UBER or Lyft to Ross.
To reserve the room at Ross Executive Learning at Conference Center, go to this reservation link. The reservation must be made by 04/14/2023.
To reserve the room at Kensington Hotel, go to this reservation link or call (800)-344-7829 and identify yourself as part of the Finance Group Theory Conference. All reservations must be made by 04/20/2023, and cancellations are required by 05/01/2023. 

Schedule for Friday, May 5 (short presentations)

1:00pm – 1:30pm    Arrival and snacks

1:30pm - 2:30pm    

Room R2310

Room R2320

Frederic Malherbe

“Improving Market-Based Systemic Risk Measures”

Jungsuk Han

“Dao Governance”

Ming Yang

“The Optimal Structure of Securities under Coordination Frictions”

Thomas Geelen

“Sustainable Organizations”


2:30pm – 2:45pm    Break

2:45pm – 3:45pm    

Room R2310

Room R2320

Ajay Subramanian

“Production Networks and Capital Structure”

Anthony Lee Zhang

“Stablecoin Runs and the Centralization of Arbitrage”

Nicolas Inostroza and Anton Tsoy

“Optimal Information and Security Design”

Toni Ahnert

“CBDC and Financial Stability”

3:45pm – 4:00pm    Break

4:00pm – 5:30pm    

Room R2310

Room R2320

Chaojun Wang

“The Limits of Multi-Dealer Platforms”

Beatrice Michaeli

"With a Grain of Salt: Uncertain Relevance of External Information and Firm Disclosures"

Efstathios Avdis

“CHILE (Continuous Heterogeneous Information in a Large Economy)”

Jordan Martel

“Disagreement in Collateral Valuation”

Jing Huang

“Fintech Expansion”

Xingtan Zhang

“Speculative Financial Innovation”​​​​​​​


5:30pm – 7:00pm    Reception at Stewart Lobby
7:00pm    Small group dinners


Schedule for Saturday, May 6
8:30am – 9:00am     Breakfast (Room 2210)
9:00am – 10:00am     “Raising Capital from Investor Syndicates with Strategic Communication” by Dan Luo
10:00am – 10:15am    Break
10:15am – 11:15am    "Too Levered for Pigou: Carbon Pricing, Financial Constraints, and Leverage Regulation" by Robin Dottling and Magdalena Rola-Janicka
11:15am – 11:30am    Break
11:30am – 12:30pm    "Crisis Interventions in Corporate Insolvency" by Samuel Antill and Christopher Clayton
12:30pm – 2:00pm    Lunch and FTG Members Meeting at Blau Colloquium
2:00pm – 3:00pm    "Market Structure of Intermediation" by Hongda Zhong
3:00pm – 3:15pm    Break
3:15pm – 4:15pm    "Intermediation via Credit Chains" by Zhiguo He and Jian Li
4:15pm    Adjourn