INSEAD Finance Symposium
Past programs: 2020, 2018, 2017
2021 Symposium
Date: May 31st, June 1st, June 2nd , 2021
Location: Zoom
2021 Program
All times are Central European Time (CET), GMT+2
Presenters are underlined
Monday May 31st
Chair: Joel Peress
Session 1: Asymmetric Information & Market Structure (Recording)
15h00 “Information Chasing versus Adverse Selection”
Gabor Pinter (Bank of England), Chaojun Wang (Wharton) and Junyuan Zou (INSEAD)
Discussant: Pierre Collin-Dufresne (EPFL)
Slides: presentation, discussion
15h40 "Limit Order Markets under Asymmetric Information"
Ayan Bhattacharya (CUNY) and Gideon Saar (Cornell)
Discussant: Bart Yueshen (INSEAD)
Slides: presentation, discussion
16h20 Break
Chair: Bernard Dumas
Session 2: Benchmarking, Convenience Yields (Recording)
16h40 "Benchmarking Intensity"
Anna Pavlova (LBS) and Taisiya Sikorskaya (LBS)
Discussant: Sergei Glebkin (INSEAD)
Slides: presentation, discussion
17h20 "Bond Convenience Yields in the Eurozone Currency Union"
Zhengyang Jiang (Kellogg School of Management), Hanno Lustig (Stanford), Stijn Van Nieuwerburgh (Columbia), and Mindy Xiaolan (UT Austin)
Discussant: Federico Gavazzoni (INSEAD)
Slides: presentation, discussion
18h00 Adjourn
Tuesday June 1st
Chair: Theo Vermaelen
Session 3: Equity Ownership & Valuation (Recording)
15h00 "Who Owns What? A Factor Model for Direct Stockholding"
Vimal Balasubramaniam (QMUL), John Y. Campbell (Harvard), Tarun Ramadorai (Imperial College), and Benjamin Ranish (FRB)
Discussant: Pierre Mabille (INSEAD)
Slides: presentation, discussion
15h40 "Duration-Based Stock Valuation: Reassessing Stock Market Performance and Volatility"
Jules H. van Binsbergen (Wharton School)
Discussant: Adrian Buss (INSEAD)
Slides: presentation, discussion
16h20 Break
Chair: Pascal Maenhout
Session 4: Beliefs and Non-standard Preferences (Recording)
16h40 "Uncertainty, Contracting, and Beliefs in Organizations"
Paolo Fulghieri (Kenan-Flagler Business School) and David L. Dicks (Baylor University)
Discussant: Naveen Gondhi (INSEAD)
Slides: presentation, discussion
17h20 "On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices"
Itay Goldstein (Wharton), Alexandr Kopytov (UHK), Lin Shen (INSEAD), Haotian Xiang (PKU)
Discussant: Philip Bond (Foster School of Business)
Slides: presentation, discussion
18h00 Adjourn
Wednesday June 2nd
Chair: Joel Peress
Session 5: Understanding Consumption and Labour (Recording)
15h00 "Priceless Consumption"
Frederico Belo (INSEAD), Andres Donangelo (UT Austin)
Discussant: Winston Dou (Wharton School)
Slides: presentation, discussion
15h40 "Potential" and The Gender Promotion Gap"
Kelly Shue (Yale School of Management)
Discussant: Olivier Dessaint (INSEAD)
Slides: presentation
16h20 Break
Chair: Lily Fang
Session 6: Financial Intermediation (Recording)
16h40 "Reserves Were Not So Ample After All"
Adam Copeland (FRBNY), Yilin (David) Yang (Stanford GSB), Darrell Duffie (Stanford GSB)
Discussant: John Kuong (INSEAD)
Slides: presentation, discussion
17h20 "Dealer Funding and Market Liquidity"
Max Bruche (Humboldt) and John Kuong (INSEAD)
Discussant: Pierre-Olivier Weill (UCLA)
Slides: presentation, discussion
18h00 Symposium ends.