INSEAD Finance Symposium
Date: June 3rd, 4th, 5th , 2020
Location: Zoom
Program
All times are Central European Time, GMT+2
Presenters are underlined
Wednesday June 3rd
Chair: Frederico Belo (INSEAD)
Session 1: Credit Ratings and Real Estate
15h00 "Soft Collateral, Bank Lending, and the Optimal Credit Rating System"
Lixin Huang (Georgia State University) and Andrew Winton (Carlson School of Management)
Discussant: John Kuong (INSEAD)
Slides: presentation, discussion
15h40 "When Discounted Rates End: The Cost of Taking Action in the Mortgage Market"
Adiya Belgibayeva (FCA), Teresa Bono (FCA), Philippe Bracke (FCA), João Cocco (London Business School) and Tommaso Majer (FCA)
Discussant: Pierre Mabille (NYU-Stern & INSEAD)
Slides: presentation, discussion
16h20 Break
Session 2: Liquidity
16h40 "Fake Liquidity?"
Terrence Hendershott (Haas School of Business), Dan Li (Board of Governors of the Federal ReserveSystem), Dmitry Livdan (Haas School of Business), and Norman Schürhoff (University of Lausanne)
Discussant: Bart Yueshen (INSEAD)
Slides: discussion
17h20 "Asset Prices and Liquidity with Market Power and Non-Gaussian Payoffs"
Sergei Glebkin (INSEAD), Semyon Malamud (EPFL), and Alberto Teguia (Sauder School of Business)
Discussant: S "Vish" Viswanathan (Duke)
Slides: presentation, discussion
18h00 Adjourn
Thursday June 4th
Chair: Lily Fang (INSEAD)
Session 3: Socially Responsible Investment
15h00 "A Theory of Socially Responsible Investment"
Martin Oehmke (London School of Economics) and Marcus M. Opp (Stockholm School of Economics)
Discussant: Lin Shen (INSEAD)
Slides: presentation, discussion
15h40 "Sustainable Investing in Equilibrium"
Lubos Pastor (Booth School of Business), Robert F. Stambaugh (The Wharton School) and Luke Taylor (The Wharton School)
Discussant: Bernard Dumas (INSEAD)
Slides: discussion
16h20 Break
Session 4: Intermediation
16h40 "Intermediated Asymmetric Information, Compensation, and Career Prospects "
Ron Kaniel (Simon School of Business) and Dmitry Orlov (University of Wisconsin School of Business)
Discussant: Adrian Buss (INSEAD)
Slides: presentation, discussion
17h20 "Rational Sentiment and Economic Cycles"
Maryam Farboodi (MIT) and Péter Kondor (London School of Economics)
Discussant: Junyuan Zou (INSEAD)
Slides: presentation, discussion
18h00 Adjourn
Friday June 5th
Chair: Joel Peress (INSEAD)
Session 5: Disagreement and Feedback
15h00 "Testing Disagreement Models"
Yen-Cheng Chang (National Taiwan University), Pei-Jie Hsiao (National Taiwan University), Alexander Ljungqvist (Stockholm School of Economics), Kevin Tseng (Federal Reserve Bank of Richmond)
Discussant: Olivier Dessaint (Rotman School of Management & INSEAD)
15h40 "Market Feedback: Who Learns What?"
Itay Goldstein (Wharton School of Business), Jan Schneemeier (Kelley School of Business) Liyan Yang (Rotman School of Management)
Discussant: Sergei Glebkin (INSEAD)
Slides: presentation, discussion
16h20 Break
Session 6: Disagreement and Resolution of Uncertainty
16h40 "Identifying preference for early resolution from asset prices"
Hengjie Ai (Carlson School of Management), Ravi Bansal (Fuqua School of Business), Hongye Guo (The Wharton School), and Anmir Yaron (The Wharton School).
Discussant: Federico Gavazzoni (INSEAD)
Slides: presentation, discussion
17h20 "Choosing to Disagree in Financial Markets"
Snehal Banerjee (Rady School of Management), Jesse Davis (University of North Carolina) and Naveen Gondhi (INSEAD)
Discussant: Xavier Vives (IESE Business School)
Slides: presentation, discussion
18h00 Symposium ends.