INSEAD Finance Symposium

Past programs: 2022, 2021, 2020, 2018, 2017

Dates: June 6th, June 7th,  2023

Location: INSEAD, Fontainebleau Campus, East Wing, Amphi Loudon (Click for campus map)

2023 Program 

Presenters are underlined.  Timing:  45 min. per paper, consisting of 20 min. for the author’s presentation, 15 minutes for the discussant and 10 minutes for Q&A from the audience.

Tuesday June 6th

Chair: Theo Vermaelen (INSEAD)

Session 1: Trends in financial markets

14h00 "Personalized Pricing, Network Effects, and Corporate Social Responsibility"

Yan Xiong (HKUST) and Liyan Yang (University of Toronto)

Discussant: Bart Yueshen (INSEAD)

Slides: presentation, discussion

14h45 "Passive Investing and the Rise of Mega-Firms"

Hao Jiang (Michigan State), Dimitri Vayanos (LSE), and Lu Zheng (UC Irvine)

Discussant: Rodolfo Prieto (INSEAD)

Slides: presentation, discussion

15h30 Coffee break

Chair: Pat Akey (Rotman)

Session 2: Corporate Finance

16h00 "The Innovation Arms Race"

 Muhammad Farooq Ahmad (SKEMA), Eric de Bodt (NHH), and Jarrad Harford (University of Washington)

Discussant: Olivier Dessaint (INSEAD)

Slides: presentation

16h45 "The Effects of Mandatory Profit-Sharing on Workers and Firms: Evidence from France"

Elio Nimier-David (CREST-ENSAE), David Sraer (UC Berkeley), and David Thesmar (MIT Sloan).

Discussant: Naveen Gondhi (INSEAD)

Slides: presentation, discussion

18h00 – 19h00  Cocktail at the Cercle  (Click for campus map)

19h00 – 21h00   Dinner at the Cercle (Click for campus map)

Wednesday June 7th

08h30 Welcome coffee

Chair: Joel Peress (INSEAD)

Session 3: Trading - Theory

09h00 "CHILE: Continuous Heterogeneous Information Large Economy'"

 Efstathios Avdis (University of Alberta) and Sergei Glebkin (INSEAD)

Discussant: Ming Yang (UCL)

Slides: presentation, discussion

09h45 "Less is More"

Bart Yueshen (INSEAD) and  Junyuan Zou (INSEAD)

Discussant: Shengxing Zhang (Peking HSBC Business School)

Slides: presentation, discussion

10h30 Coffee break

Chair: Jean Dermine (INSEAD)

Session 4:  Financial intermediaries

11h00 "Monetary Policy and Fragility in Corporate Bond Funds"

John Kuong (INSEAD), James O'Donovan (CUHK) and Jinyuan Zhang (UCLA)

Discussant: Jaewon Choi (UIUC)

Slides: presentation, discussion

11h45 "Bank Failures and Credit Reallocation"

Elena Carletti (Bocconi), Filippo De Marco (Bocconi), Vasso Ioannidou (Bayes Business School), and Enrico Sette (Bank of Italy)

Discussant: John Kuong (INSEAD)

Slides: presentation, discussion

12h30 – 14h00   Lunch at the Cercle (Click for campus map)

Chair: Frederico Belo (INSEAD)

Session 5: Subjective Beliefs

14h00 "Model Ambiguity vs Model Misspecification in Dynamic Portfolio Choice and Asset Pricing"

Anne G. Balter (Tilburg), Pascal J. Maenhout (INSEAD), and Hao Xing (Boston University)

Discussant: Jaroslav Borovička (NYU)

Slides: presentation, discussion

14h45 "The Subjective Risk and Return Expectations of Institutional Investors"

Spencer J. Couts (USC), Andrei S Goncalves (OSU), and Johnathan A. Loudis (University of Notre Dame)

Discussant: Ahmed Guecioueur (INSEAD)

Slides: presentation, discussion

15h30 Coffee break

Chair: Bernard Dumas (INSEAD)

Session 6: Implications of savings

16h00 “Asset Pricing and Risk Sharing Implications of Alternative Pension Plan Systems”

Nuno Coimbra (Banque de France), Francisco Gomes (LBS), Alexander Michaelides (Imperial), and Jialu Shen (University of Missouri)

Discussant: Pierre Mabille  (INSEAD)

Slides: presentation, discussion

16h45 "From Saving Comes Having? Disentangling the Impact of Saving on Wealth Inequality"

Laurent Bach (ESSEC), Laurent E. Calvet (EDHEC), and Paolo Sodini (SSE)

Discussant: Alexandru Barbu (INSEAD)

Slides: presentation, discussion

17h30 Adjourn