Jun 27 - Jun 29, 2016
Imperial College Business School, Imperial College Business School
Rembrandt Sarova Hotel, Knightsbridge, London, SW7 2RS
Summer Conference 2016
Sponsor and Co-Organizer: Brevan Howard Centre for Financial Analysis, Imperial College Business School
Program Committee: Philip Bond (chair), Douglas Gale, Emiliano Pagnotta, Giorgia Piacentino, Günter Strobl, Katrin TinnSchedule
| Monday, June 27, 2016 | |
| 8:00am − 9:00am | Registration / Tea and Coffee |
| 9:00am − 10:00am | Financing Durable Assets by Adriano Rampini |
| 10:00pm − 10:20am | Tea and Coffee |
| 10:20am − 11:20am | Proxy Advisory Firms: The Economics of Selling Information to Voters by Andrey Malenko and Nadya Malenko |
| 11:20am − 11:40am | Tea and Coffee |
| 11:40am − 12:40pm | Learning in Crowded Markets by Péter Kondor and Adam Zawadowski |
| 12:40pm − 2:00pm | Lunch |
| 2:00pm − 5:00pm | No Sessions / Potential Time for Collaboration |
| 5:00pm − 5:30pm | Parallel Sessions 1. Snehal Banerjee (UCSD): "Conceal to Coordinate" 2. Yasser Boualam (UNC): "Bank Lending and Relationship Capital" 3. Andrea Buffa (Boston U.): "A Theory of Operational Risk" |
| 5:30pm − 6:00pm | Parallel Sessions 1. James Dow (London Business School): "The Paradox of Financial Fire Sales" 2. Chong Huang (UC Irvine): "Mutual Funds Reputation and Star Ratings" 3. Péter Kondor (London School of Economics): "Cursed Financial Innovation" 4. John Chi-Fong Kuong (INSEAD): "Credit Ratings and Market Information" |
| 6:00pm − 6:30pm | Parallel Sessions 1. Joel Shapiro (Oxford): "Credit Ratings and Market Information" 2. Martin Szydlowski (Minnesota): "Optimal Financing and Disclosure" 3. Jing Zeng (Frankfurt): "Portfolio Size and the Incentives for Shareholder Activism" |
| 6:30pm − 7:00pm | Parallel Sessions 1. Bart Lambrecht (Cambridge): "The Dynamics of Investment, Payout and Debt" 2. Alan Morrison (Oxford): "Ethical Standards and Cultural Assimilation in Financial Services" 3. Uday Rajan (Michigan): "Liquidity Transformation: Banks and the Payment System" 4. Eduardo Davila (NYU): "Optimal Joint Bond Design" |
| Tuesday, June 28, 2016 | |
| 9:00am − 10:00am | Volume, Liquidity and Volatility in OTC Markets Featuring Asset Heterogeneity by Konstantin Milbradt |
| 10:00pm − 10:20am | Tea and Coffee |
| 10:20am − 11:20am | Over-the-Counter Markets with Bargaining Delays by Anton Tsoy |
| 11:20am − 11:40am | Tea and Coffee |
| 11:40am − 12:40pm | Liquidity Fluctuations in Over the Counter Markets by Vincent Maurin |
| 12:40pm − 2:00pm | Lunch |
| 2:00pm − 5:00pm | No Sessions / Potential Time for Collaboration |
| 5:00pm − 5:30pm | Parallel Sessions 1. Neil Brisley (Waterloo): "Market-Specific Human Capital: Talent Mobility, Compensation, and Shareholder Value" 2. Gilles Chemla (Imperial): "Learning through Crowdfunding" 3. Shaun Davies (Colorado): "The Price is Wrong: Mispricing Due to ETF Arbitrage" 4. Sivan Frenkel (Tel Aviv): "Dynamic Asset Sales with a Feedback Effect" |
| 5:30pm − 6:00pm | Parallel Sessions 1. Shiming Fu (Rochester): "Dynamic Financial Contracting with Persistent Private Information" 2. Seokwoo Lee (George Mason): "Robust Security Design" 3. Yaron Leitner (Philadelphia Fed): "Regulating a Model" 4. Guillem Ordonez-Calafi (Warwick): "M&A with an Entrenched Board: A Global Games Analysis" |
| 6:00pm − 6:30pm | Parallel Sessions 1. Giorgia Piacentino (Washington U): "The Paradox of Pledgeability" 2. Francesco Sangiorgi (Stockholm): "Investor Attention and Corporate Short-Termism" 3. Katrin Tinn (Imperial): "Rational Quantitative Trading in Efficient Markets" |
| 6:30pm − 7:00pm | Parallel Sessions 1. Vladimir Vladimirov (Amsterdam): "CEO Vision, Tenure, and Turnover" 2. Hongda Zhong (London School of Economics): "A Dynamic Model of Optimal Creditor Dispersion" 3. Yao Zeng (Harvard): "A Dynamic Theory of Mutual Fund Runs and Liquidity Management" |
| Wednesday, June 29, 2016 | |
| 9:00am − 10:00am | Trading Costs and Informational Efficiency by Eduardo Dávila and Cecilia Parlatore |
| 10:00pm − 10:20am | Tea and Coffee |
| 10:20am − 11:20am | A Theory of Repurchase Agreements, Collateral Re-Use, and Repo Intermediation by Piero Gottardi, Vincent Maurin, and Cyril Monnet |
| 11:20am − 11:40am | Tea and Coffee |
| 11:40am − 12:40pm | Optimal Margins and Equilibrium Prices by Bruno Biais, Florian Heider, and Marie Hoerova |
| 12:40pm − 2:00pm | Lunch |
| 2:00pm − 5:30pm | No Sessions / Potential Time for Collaboration |
| 5:30pm − 6:30pm | Talk by John Kay |
| 6:30pm − 7:15pm | Reception |
| 7:30pm | Conference Dinner at Ognisko |