Finance Research Seminar

Spring term 2021

• Falk Bräuning, Boston FED: "Exchange Rate Risk, Derivatives Losses, and Credit Supply"
• Adair Morse, Berkeley: "Small Business Survival Capabilities and Fiscal Programs: Evidence from Oakland"
• Christopher Polk, London School of Economics: "Putting the Price in Asset Pricing"
• Alberto Manconi, Bocconi University: "Are Star Law Firms Also Better Law Firms?"
• Lauren Cohen, Harvard Business School: "Too Many Managers: Strategic Use of Titles to Avoid Overtime Payments"
• Jonathan Karpoff, University of Washington: "The consequences to directors for deploying poison pills"
• Marcin Kacperczyk, Imperial College London: "Signaling through Carbon Disclosure"
• Arno Riedl, Maastricht University: "Still in search of the sunk cost bias"
• Stefan Trautmann, University of Heidelberg & University of Tilburg: "Done Deal! Advisor impact on Pricing, Premia, Returns, and Deal Completion in M&A"
• Zacharias Sautner, Frankfurt School of Finance & Management : "Climate Risk Disclosure and Institutional Investors"

Fall term 2020

• David Solomon, Boston College: "The Perils of Private Provision of Public Goods"
• Anna Obizhaeva, NES: "Dimensional Analysis, Leverage Neutrality, and Market Microstructure Invariance"
• Liang Peng, Penn State, Smeal College of Business: "How Different Is Real Estate? A Story of Factors"
• Melvyn Teo, Singapore Management University: "Text Sophistication and Sophisticated Investors"
• Philip Valta , University of Bern: "Direct democracy, corporate political strategy, and firm value"
• Rik Frehen, Tilburg University: "How harmful is insider trading for outsiders? Evidence from the eighteenth century"
• Victor DeMiguel, London Business School: "What Alleviates Crowding in Factor Investing?"
• Efraim Benmelech, Northwestern University: "Secured Credit Spreads and the Issuance of Secured Debt"

Spring term 2020

• Stefan Ruenzi, University of Mannheim: "The impact of role models on women's self-selection in competitive environments"
• Gabriel Ahlfeldt, London School of Economics: "The stationary spatial equilibrium with migration costs"
• Alex Wagner, University of Zurich: "Feverish Stock Price Reactions to COVID-19"
• Tobin Hanspal, WU Vienna University of Economics and Business: "Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations"

Fall term 2019

• Guillaume Vuillemey, HEC Paris: "The Private Production of Safe Assets"
• Thierry Focault, HEC Paris: "Inventory Management, Dealers' Connections, and Prices in OTC Markets"
• Alexandra Niessen-Ruenzi, University of Mannheim: "The Long-lasting Effects of Experiencing Communism on Attitudes towards Financial Markets"
• Michael Halling, Stockholm School of Economics: "Valuation ratios and shape predictability in the distribution of stock returns"
• Lukas Schmid, Duke University: "Benchmark Interest Rates when the Government is Risky"
• Stephen H. Penman, Columbia Business School: "An Accounting-based Asset Pricing Model and a Fundamental Factor"
• Tim Kroencke, University of Neuchatel: "Recessions and the Stock Market"
• Martin Thomas Hibbeln, University Duisburg-Essen: "The Impact of Skin in the Game on Bank Behavior in the Securitization Market"
• Paul Smeets, Maastricht University: "Investor Memory"
• Lorenz Kueng, Northwestern University & University of Lugano: "The Riskiness of Owning Versus Renting Housing"
• Michael Weber, University of Chicago: "Crowdsourcing Financial Information to Change Spending Behavior"
• Renée Adams, University of Oxford: “Financing legislators”

Spring term 2019

• Frank Heinemann, Technical University of Berlin: "An Experimental Test of the Global-Game Selection in Games with Asymmetric Players"
• George Tauchen, Duke University: "Jump Factor Models in Large Cross-Sections"
• Peter Bossaerts, University of Melbourne: "Does Imperfect Foresight Matter After All?"
• Toni Ahnert, Bank of Canada: "Loan Insurance, Adverse Selection and Screening"
• Lars Hornuf, University of Bremen: "Paralyzed by shock: The portfolio formation behavior of peer-to-business lending investors"
• Maximilian von Ehlrich, University of Bern: "Housing supply reactions to rent vs. price changes: The role of capitalization rates and regulation"
• Tony Klein; Queen's University: "The Impact of SHFE's Night Trading Session on Commodity Futures Markets"
• Tim Eisert, Erasmus University: "Credit Misallocation and Inflation in Europe"
• Philipp Krueger, University of Geneva: "Institutional Investors' Views and Preferences on Climate Risk Disclosure"
  Clemens Sialm, University of Texas at Austin: "Out of Sight No More? The Effect of Fee Disclosures on 401 (k) Investment Allocations"

Fall term 2018

• Justin Sydnor, University of Wisconsin - Madison: "Liquidity Constraints and the Value of Insurance"
• Markus Nöth, University of Hamburg: "Default Effects in Car Insurance: Individual Heterogeneity in an Online Field Experiment"
• Alexander Hillert, Goethe University: "The Value of Visibility"
• Michaela Pagel, Columbia Business School: "Credit Smoothing"
• Joanna Stavins, Federal Reserve Bank of Boston: "Does getting a mortgage affect credit card use?"
• Anastasia Kartasheva, Bank for International Settlements: "Insurers as Asset Managers and Systemic Risk"
• Boris van Leeuwen, Tilburg University: "Hormonal Origins of Investor Behavior"
• Andreas Hackethal, Goethe University: "Client Involvement in Expert Advice - Antibiotics in Finance?"
• Tobin Hanspal, Goethe University: "Do Financial Misconduct Experiences Spur White-Collar Crime?"

Spring term 2018

• Christoph Herpfer, Emory University: "The real effects of banker networks"
• Boris Nikolov, University of Lausanne: "Dynamic Financial Constraints: Which Frictions Matter for Corporate Policies?"
• Ernst Maug, University of Mannheim: "Private Equity and Human Capital Risk"
• Markku Kaustia, Aalto University: "What drives the heterogeneity in portfolio choice? The role of institutional, traditional, and behavioral factors"
• Juhani Linnainmaa, University of Southern California: "Factor Momentum"
• Vikas Agarwal, Georgia State University: "Policy Uncertainty and Household Stock Market Participation"
• Christoph Schneider, Tilburg University: "Child Care Provision and Women's Careers in Firms"
• Co-Pierre Georg, Bundesbank and University of Cape Town: "How Financial Institutions Manage Political Risk: Evidence from Brexit and the Trump Election"
• Holger Müller, New York University: "Firms' Internal Networks and Local Economic Shocks"

Fall term 2017

• Elisabeth, Kempf, Chicago Booth: "Bright Ideas Gone Bust: Successful Innovation and Corporate Fraud"
• John Gathergood, University of Nottingham: "How Do Individuals Repay Their Debt? The Balance-Matching Heuristic"
• Falko Fecht, Frankfurt School of Finance and Management: "The fire-sale channels of universal banks in the European sovereign debt crisis"
• Sebastian Ebert, Frankfurt School of Finance and Management: "Discounting, Diversity, and Investment"
• Mathieu Rosenbaum, L'Ecole Polytechnique: "The characteristic function of rough Heston models"
• Christoph Merkle, Kühne Logistics University: "Value and Momentum from Investors' Perspective"
• Jiekun Huang, University of Illinois at Urbana-Champaign: "Informing the Market: The Effect of Modern Information Technologies on Information Production"
• James Vickery, Federal Reserve Bank of New York: "The Role of Technology in Mortgage Lending"
• Andrei Kirilenko, Imperial College London: "Speculative Floating Oil"
• Christiane Baumeister, University of Notre Dame: "Structural Interpretation of Vector Autoregressions with Incomplete Identification: Revisting the Role of Oil Supply and Demand Shocks"

Spring term 2017

• John Chalmers, University of Oregon: "Is Conflicted Investment Advice Better than No Advice?"
• Florian Heider, European Central Bank: "Life Below Zero: Bank Lending Under Negative Policy Rates"
• Stefano Corradin, European Central Bank: "The Importance of Being Special: Repo Markets During the Crisis"
• Pierre Collin-Dufresne, Ecole Polytechnique de Lausanne: "Informed Trading and Option Prices: Evidence from Activist Trading"
• Marcel Prokopczuk, University of Hannover: "What Makes the Market Jump?"
• Magnus Dahlquist, Halmstad University: "The Missing Risk Premium in Exchange Rates"
• Andreas Fuster, NYU Stern School of Business: "The Time-Varying Price of Financial Intermediation in the Mortgage Market"
• Luigi Guiso, Einaudi Institute for Economics and Finance: "Heterogeneity and Persistence in Returns to Wealth"
• Xin Zhang, Riksbank: "Monetary Normalizations of Consumer Credit: Evidence from Fed Liftoff and Online Lending"

Fall term 2016

• Yasushi Hamao, Columbia University: "Selective Disclosure: The Case of Nikkei Preview Articles"
• Xavier Giroud, MIT: "Redistribution of Local Labor Market Shocks through Firms' Internal Networks"
• Bo Becker, Stockholm School of Economics: "Covenant-light Contracts and Creditor Coordination"
• Geraldo Cerqueiro, Universidade Catolica Portuguesa: "Collateral Damage? On Collateral, Corporate Financing Performance"
• Enrico Sette, Banca d'Italia: "Monetary Policy at Work: Security and Credit Application Registers Evidence"
• Thomas Gehrig, University of Vienna: "Did the Basel Process of Capital Regulation Enhance the Resiliency of European Banks?"
• Markus Brunnermeier, Princeton University: The Euro and the Battle of Ideas"
• Joel Peress, INSEAD: "Glued to the TV: Distracted Retail Investors and Stock Market Liquidity"
• Norman Schürhoff, HEC Lausanne: "Relationship Trading in OTC Markets"
• Emanuel Mönch, Deutsche Bundesbank: "Reach for Yield in Investment Funds"
• Albert Menkveld, VU Amsterdam: "A Network Map of Information Percolation"

Spring term 2016

• André Güttler, Ulm University: "Public Bank Guarantees and Allocative Efficiency"
• Matti Keloharju, University Aalto School of Business: "Equal Opportunity? Gender Gaps in CEO Appointments and Executive Pay"
• Markku Kaustia, University Aalto School of Business: "An Optimist Gets the Job Done? Financial Advisors' Sophistication and Stock Return Expectations"
• Erwan Morellec, École Polytechnique de Lausanne: "Rollover Traps"
• Adonis Antoniades, Bank for International Settlements: "Commercial Bank Failures During The Great Recession: The Real (Estate) Story"
• Fred Espen Benth, University of Oslo: "Pricing of Forwards and Other Derivatives in Cointegrated Commodity Markets"
• Yakov Amihud, New York University: "The Pricing of Corporate Foreign Sales Risk"
• Claudia Custodio, Nova School of Business & Economics: "When Pay for Luck is Pay for Action: CEO Compensation and Real Estate Prices"
• Kjell Nyborg, University of Zurich: "Central Bank Collateral Frameworks"
• Vasso Ioannidou, Lancaster University Management School: "When Do Laws and Institutions Affect Recovery Rates on Collateral"
• Lukas Roth, University of Alberta: "Good and Bad CEOs"
• Diane Pierret, University of Lausanne: "Lender of Last Resort versus Buyer of Last Resort - Evidence from the European Sovereign Debt Crisis"

Fall term 2015

• Anastasia Kartasheva, Bank for International Settlements: “CoCo Bond Issuance and Bank Funding Cost”
• Antoine Martin, Federal Reserve Bank of New York: “Market for Liquidity and Central Bank Policy”
• Damir Filipovic, EPFL Lausanne: Linear-Rational Term Structure Models”
• Samuli Knuepfer, Norwegian Business School: “Are CEOs Born Leaders? Lessons from Traits of a Million Individuals”
• Philippe Mueller, London School of Economics: “Policy Announcements in FX Markets”
• Marcel Fischer, University of Constance: “The Debt Tax Shield in General Equilibrium”
• Fabio Braggion, Tilburg University: “International Liquidity Shocks, the Real Economy, and Social Unrest: China, 1931-1935”
• Martin Hoesli, University of Geneva: “Measuring House Price Bubbles”
• Henning Schroeder, University of Hamburg: “Corporate Life-cycle Dynamics of Cash Holdings”
• Tor Jacobson, Swedish Riksbank: “Inter-firm Lending: An Empirical Analysis of Trade Credit Contracts”

 Spring term 2015

• Isabel Schnabel, University Mainz: "Financial Fragmentation and Economic Growth in Europe"
• Michael Kisser, Norwegian School of Economics: "Does Dynamic Tradeoff Theory Explain High-frequency Debt Issuers?"
• Hyun Soo Choi, Singapore Management University: "When Real Estate is the Only Game in Town"
• Robert Korajczyk, Kellogg School of Management: "High Frequency Market Making to Large Institutional Trades"
• Jesper Rangvid, Copenhagen Business School: "The End-of-the-year Effect. Global Economic Growth and Expected Returns around the World"
• Allaudeen Hameed, National University of Singapore: "Short-Term Reversals: The Effects of Institutional Exits and Past Returns"
• Rüdiger Seydel, TU München: "Risk and Computation"
• Rüdiger Schultz, University Duisburg Essen: "Nonanticipative Optimization: From Power to Gas, with Detours"
• Asani Sarkar, Federal Reserve Bank of New York: "Size is not Everything"
• Jens Hagendorff, University of Edinburgh: "Too Close for Comfort? Regulatory Connections and Public Subsidies to Banks"
• Holger Kraft, Goethe University Frankfurt: "Housing Habits and their Implications for Life-Cycle Consumption and Investment"

Fall Term 2014

• Linus Siming: Bocconi University: “Knighthoods, Damehoods, and CEO Behaviour”
• Piet Eichholtz, Maastricht University: “Overconfidence and Firm Decision Making: Evidence from Commercial Real Estate Transactions“
• David C. Ling, University of Florida: “Explaining House Price Dynamics: Isolating the Role of Non-Fundamentals“
• Suleyman Basak, London Business School: “Link: A Model of Financialization of Commodities“
• Kristin Linnerud, Center for International Climate and Environmental Research, Oslo: “Revision of renewable energy support schemes: How uncertainty affects investment rates”
• Almut Veraart, Imperial College London: “Cross-Commodity Modelling by Multivariate Ambit Fields“
• Maxim Ulrich, Karlsruhe Institute of Technology (KIT): “Nominal Bonds, Real Bonds, and Equity“
• Fabio Trojani, Università della Svizzera Italiana: “The Price of the Smile“
• Andreas Schrimpf, Bank for International Settlements: “Currency Value“
• Leonidas Barbopoulos, University of St Andrews, Scotland: “Acquirers’ gains from earnout deals: Cross-border versus domestic acquisitions“

Spring Term 2014

• Marliese Uhrig-Homburg, Karlsruhe Institute of Technology: “A Heterogeneous Agents Equilibrium Model for the Term Structure of Bond Market Liquidity“
• Rüdiger Kiesel, University of Duisburg-Essen: “Model Risk and Power Plant Valuation“
• Harald Hau, University of Geneva: “Asset Allocation and Monetary Policy: Evidence from the Eurozone“
• Oliver Spalt, Tilburg University: „Distracted Shareholders and Corporate Actions”
• Andrea Vedolin, London School of Economics: “Funding Liquidity CAPM: International Evidence”
• Yakov Amihud, NYU, Stern School of Business: “The Pricing of the Illiquidity Factor's Systematic Risk“
• Dogan Keles, Karlsruhe Institute of Technology (KIT): „Evaluation of energy storages under uncertainty using stochastic modeling“
• Radu Tunaru, University of Kent: “Dividend Derivatives“
• Lucio Sarno, Cass Business School “Volatility Risk Premia and Exchange Rate Predictability“
• Daniel Kuhn, EPFL Lausanne: “Robust Growth-Optimal Portfolios“
• John H. Cochrane, University of Chicago: “The New-Keynesian Liquidity Trap“

Fall Term 2013

• Ruediger Fahlenbrach, EPFL Lausanne: “Trust Preferred Securities and Regulatory Arbitrage”
• Mike Burkart, Stockholm School of Economics: “Why is hedge fund activism procyclical?”
• Philip Valta, HEC Paris: “Competitive Pressure and Corporate Investment: Evidence from Trade Liberalization“
• Massimo Guidolin, Bocconi University: “Macroeconomic Factors Strike Back: A Bayesian Change-Point Model of Time-Varying Risk Exposures and Premia in the U.S. Cross-Section“
• Lukas Menkhoff, Christian-Albrechts-University Kiel: “Currency Risk Premia and Macro Fundamentals“
• Marc Goergen, University of Cardiff: “The Market for Non-executives: Takeover Performance and the Subsequent Holding of Directorships“
• Sjur Westgaard, NTNU Trondheim: “Analysis and Forecasting of Electricity Price Risks with Quantile Factor Models“
• Andrew Ellul, Indiana University: “Mark-to-Market Accounting and Systemic Risk: Evidence from the Insurance Industry“
• Zacharias Sautner, University of Amsterdam: “The Effect of Managerial Short-Termism on Corporate Investment“
• Catherine Koch, University of Zurich: “House Prices, Mortgage Demand and Mortgage Supply: Causal Evidence from an Immigration Shift-Share Experiment”

Spring Term 2013

• Livio Stracca, European Central Bank: “Our currency, your problem? The global effects of the euro debt crisis“
• Martin Wallmeier, University Fribourg: “Smile in Motion: An Intraday Analysis of Asymmetric Implied Volatility“
• Tobias Berg, Humboldt University Berlin: “The Total Costs of Corporate Borrowing in the Loan Market: Don’t Ignore the Fees“
• Charles Kahn, University of Illinois: “Collateral Policy in a World of Round-the-Clock Payment“
• Peter Dunne, Central Bank of Ireland: “A Microstructure Perspective on Liquidity Interventions and the Interbank Repo Market During the Recent Financial Crisis“
• John V. Duca, Federal Reserve Bank of Dallas / Southern Methodist University: “Shifting Credit Standards and the Boom and Bust in U.S. House Prices: Time Series Evidence from the Past Three Decades“
• Joan T. Schmit, University of Wisconsin-Madison: “Determinants of Insurers’ Reputational Risk“
• Per Strömberg, SIFR (The Institute for Financial Research): “Private Equity and the Resolution of Financial Distress“
• Claire Célérier, University of Zurich: ”What Drives Financial Complexity? A Look into the Retail Market for Structured Products“
• Daniel Ferreira, London School of Economics and Political Science: ”Shareholder Empowerment and Bank Bailouts“
• Avanidhar Subrahmanyam, UCLA Anderson School of Management: “Financial Market Shocks and the Macroeconomy“