Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Please note that all times are shown in the time zone of the conference. The current conference time is: 25th Aug 2026, 09:08:30pm PDT

 
Thu12Mar
Adriatic
Aegean
Baltic
Bering
Caribbean
Caspian
Pacific 1
Pacific 2
Pacific 3
Pacific Foyer - 2nd Floor
Atlantic Foyer - 1st Floor
Atlantic D - 1st Floor
2nd Floor
8:00am
9:00am
10:00am
11:00am
12:00pm
1:00pm
2:00pm
3:00pm
4:00pm
5:00pm
6:00pm
7:00pm
8:00pm
The Dynamics of Human Capital Accumulation
1:30pm - 3:15pm
Adriatic
Julian Atanassov
Location: Adriatic
Session Chair: Julian Atanassov, University of Nebraska-Lincoln

Human Capital, Competition and Mobility in the Managerial Labor Market

John Barry, Noah Lyman, Lin Zhao

Discussant: Brooke Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Barry-566-Human Capital, Competition and Mobility in the Managerial Labor Market.pdf


The Glass Ceiling from Day Zero: Path Dependence in Financial Advisors' Careers

Allison Cole, Ankit Kalda, Alessandro Previtero

Discussant: Liu Yang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cole-1153-The Glass Ceiling from Day Zero.pdf


Organizing for Learning

Yelena Larkin, Tu Nguyen

Discussant: Stephen Karolyi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Larkin-983-Organizing for Learning.pdf
Distortions and Allocations in the Labor Market
3:30pm - 5:15pm
Adriatic
Janet Gao
Location: Adriatic
Session Chair: Janet Gao, Georgetown University

Stock Price Shocks and Skill Demand

Yao Lu, Liu Yang, Yeqing Zhang

Discussant: Jessica Bai

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lu-317-Stock Price Shocks and Skill Demand.pdf


How Bankers’ Outside Options Affect Financial Risk

Valentin Kecht, Georg Schneider

Discussant: Ruidi Huang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kecht-790-How Bankers’ Outside Options Affect Financial Risk.pdf


Old Workers, New Capital

Philippe d’Astous, Thomas Geelen, Jakub Hajda

Discussant: Abhinav Gupta

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"d’Astous-217-Old Workers, New Capital.pdf
Technology, Regulations, and Asset Prices
1:30pm - 3:15pm
Aegean
Nancy Xu
Location: Aegean
Session Chair: Nancy Xu, Boston College

Self-fulfilling Illiquidity and Market Collapse with (Seemingly Irrelevant) Price Controls

Jordan Martel, Edward Van Wesep, Brian Waters

Discussant: Haaris Mateen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Martel-186-Self-fulfilling Illiquidity and Market Collapse with.pdf


Technology Adoption, Market Power, and the Dual Dynamics of Value Premium and Markups

Xiaoji Lin, Chao Ying, Terry Zhang

Discussant: Xinwei Li

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lin-537-Technology Adoption, Market Power, and the Dual Dynamics.pdf


The Empirical Virtue of Complexity in Simple Economic Models

Kerry Back, Alexander Ober, Seth Pruitt

Discussant: Lukas Schmid

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Back-660-The Empirical Virtue of Complexity in Simple Economic Models.pdf
Expectations and Asset Prices
3:30pm - 5:15pm
Aegean
Liyan Yang
Location: Aegean
Session Chair: Liyan Yang, University of Toronto

Demand Propagation Through Traded Risk Factors

Yu An, Amy Huber

Discussant: Zhengyang Jiang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"An-481-Demand Propagation Through Traded Risk Factors.pdf


The Subjective Belief Factor

Tingyue Cui, Ricardo De la O, Sean Myers

Discussant: Daniel Andrei

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cui-134-The Subjective Belief Factor.pdf


Expectations and the Term Structure of Interest Rates

Pooya Molavi, Alireza Tahbaz-Salehi, Andrea Vedolin

Discussant: Hao Pang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Molavi-1044-Expectations and the Term Structure of Interest Rates.pdf
Fund Performance
1:30pm - 3:15pm
Baltic
Yuri Tserlukevich
Location: Baltic
Session Chair: Yuri Tserlukevich, Arizona State University

Relationship Nonbankers

Franz Hinzen, Max Jager

Discussant: Xinxin Zhang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Hinzen-1118-Relationship Nonbankers.pdf


Does Fund Size Affect Private Equity Performance? Evidence from Donations to Private Universities

Abhinav Gupta, Abhishek Bhardwaj, Sabrina Howell, Kyle Zimmerschied

Discussant: Jun Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gupta-179-Does Fund Size Affect Private Equity Performance_ Evidence.pdf


Contract Evaluation Horizon and Fund Performance

Jung Hoon Lee, Jayoung Nam, Veronika Pool, Feng Zhang

Discussant: Hsiu-lang Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lee-362-Contract Evaluation Horizon and Fund Performance.pdf
Capital Structure and Financing
3:30pm - 5:15pm
Baltic
Pavel Zryumov
Location: Baltic
Session Chair: Pavel Zryumov, University of Rochester

Equity ATMs

Nicolas Inostroza, Anne-Katrin Roesler, Anton Tsoy

Discussant: Brian Waters

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Inostroza-599-Equity ATMs.pdf


Demandable Debt and Leverage Ratchet Effect

Kostas Koufopoulos, Xuyuanda Qi, Giulio Trigilia

Discussant: Fabrice Tourre

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Koufopoulos-148-Demandable Debt and Leverage Ratchet Effect.pdf


Debt Maturity and Commitment to Firm Policies

Andrea Gamba, Alessio Saretto

Discussant: Felipe Varas

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gamba-745-Debt Maturity and Commitment to Firm Policies.pdf
Factors and Fundamentals
1:30pm - 3:15pm
Bering
Ferhat Akbas
Location: Bering
Session Chair: Ferhat Akbas, University of Illinois Chicago

On the Macroeconomic Foundations of the Anomaly Zoo

Michael O'Doherty, Feifei Wang, Sterling Yan

Discussant: Huseyin Gulen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"O_Doherty-946-On the Macroeconomic Foundations of the Anomaly Zoo.pdf


Mispricing and Firm Investment

Dora Horstman, Yong Chen

Discussant: Zhanhui Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Horstman-1039-Mispricing and Firm Investment.pdf


Macroeconomic Shocks and Cross-sectional Stock Returns

Andrew Fieldhouse, Hagen Kim, Arvind Mahajan

Discussant: Mohammad Ghaderi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Fieldhouse-1028-Macroeconomic Shocks and Cross-sectional Stock Returns.pdf
Elasticities and Demand for Stocks
3:30pm - 5:15pm
Bering
John Shim
Location: Bering
Session Chair: John Shim, University of Notre Dame

A Bound on Price Impact and Disagreement

Philippe van der Beck, Lorenzo Bretscher, Julie Fu

Discussant: Simon Oh

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"van der Beck-487-A Bound on Price Impact and Disagreement.pdf


Endogenous Elasticities: Price Multipliers Are Smaller for Larger Demand Shocks

Aditya Chaudhry, Jiacui Li

Discussant: Taisiya Sikorskaya

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chaudhry-300-Endogenous Elasticities.pdf


The Inelastic Investors: Passive Demand and the Reshaping of Stock Prices

Pouya Behmaram

Discussant: Carter Davis

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Behmaram-435-The Inelastic Investors.pdf
Institutional Investors, Executives, and Corporate Governance
1:30pm - 3:15pm
Caribbean
Noah Stoffman
Location: Caribbean
Session Chair: Noah Stoffman, Indiana University

Majority Voting Legislation and CEO Incentive Compensation

Zhengzhuo {Zyaire} Li

Discussant: Adrian Aycan Corum

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Li-388-Majority Voting Legislation and CEO Incentive Compensation.pdf


Betting on the CEO

Utpal Bhattacharya, Yuet Ning Chau, Kasper Meisner Nielsen

Discussant: Tor-Erik Bakke

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bhattacharya-730-Betting on the CEO.pdf


Transparency in Voting: When and Why Institutional Investors Provide Voting Rationales

Daniele Macciocchi, Roni Michaely, Silvina Rubio, Irene Yi

Discussant: Chong Shu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Macciocchi-795-Transparency in Voting.pdf
Public and Private Funds
3:30pm - 5:15pm
Caribbean
Chotibhak Jotikasthira
Location: Caribbean
Session Chair: Chotibhak Jotikasthira, Southern Methodist University

Unrealized Trading Gains: Regulatory Limits to Market Elasticity

Chuck Fang

Discussant: Cameron Ellis

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Fang-333-Unrealized Trading Gains.pdf


Loan-funded Loans: Equity-like Liabilities inside Bank Holding Companies

Jennie Bai, Murillo Campello, Pradeep Muthukrishnan

Discussant: Ivan Ivanov

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bai-478-Loan-funded Loans.pdf


The Impact of Monetary Policy on Venture Capital Finance

Jose Carlos Abreu, Eduardo Marinho, Sebastiao Oliveira

Discussant: Martina Jasova

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Carlos Abreu-853-The Impact of Monetary Policy on Venture Capital Finance.pdf
Politics, Institutions, and Regulatory Performance
1:30pm - 3:15pm
Caspian
Rajesh Narayanan
Location: Caspian
Session Chair: Rajesh Narayanan, Louisiana State University

When Regulation Misses the Market: Sources of Policy Failure in Banking

Amanda Heitz, John Kandrac

Discussant: Mohit Desai

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Heitz-161-When Regulation Misses the Market.pdf


The Deep State and the Liberal Drift of Financial Regulators

Joseph Kalmenovitz, Denis Sosyura, Jason Chen

Discussant: Andrew MacKinlay

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kalmenovitz-319-The Deep State and the Liberal Drift of Financial Regulators.pdf


Does Systemically Important Bank Status Affect Loan Performance?

Sriniwas Mahapatro, Shashwat Agrawal, Nishant Kashyap, Prasanna Tantri

Discussant: Indraneel Chakraborty

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Mahapatro-535-Does Systemically Important Bank Status Affect Loan Performance_.pdf
Liquidity, Fragility, and Monetary Transmission
3:30pm - 5:15pm
Caspian
Andrew Winton
Location: Caspian
Session Chair: Andrew Winton, University of Minnesota

Municipal Financing and Monetary Policy Transmission

Igor Cunha, Michael Varley

Discussant: Haaris Mateen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cunha-405-Municipal Financing and Monetary Policy Transmission.pdf


What Quantity of Reserves Is Sufficient?

Yilin {David} Yang

Discussant: Jay Kahn

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Yang-707-What Quantity of Reserves Is Sufficient_.pdf


Bank Lending Fragility After Mergers

Jeffrey Jou, Teng Wang, Jeff Zhang

Discussant: Andrew MacKinlay

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Jou-1105-Bank Lending Fragility After Mergers.pdf
Risky Asset Demand
1:30pm - 3:15pm
Pacific 1
Yu An
Location: Pacific 1
Session Chair: Yu An, Johns Hopkins University

Revealed Preference for Green Stocks: An Asset Demand Approach

Aaron Mora

Discussant: Philippe van der Beck

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Mora-940-Revealed Preference for Green Stocks.pdf


Higher-Order Beliefs and Risky Asset Holdings

Xiao Yin, Yuriy Gorodnichenko

Discussant: Chen Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Yin-229-Higher-Order Beliefs and Risky Asset Holdings.pdf


How (Not) to Identify Demand Elasticities in Dynamic Asset Markets

Jules van Binsbergen, Benjamin David, Christian Opp

Discussant: Aditya Chaudhry

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"van Binsbergen-1045-How (Not) to Identify Demand Elasticities in Dynamic Asset Markets.pdf
Aspects of the Stochastic Discount Factor
3:30pm - 5:15pm
Pacific 1
Seth Pruitt
Location: Pacific 1
Session Chair: Seth Pruitt, Arizona State University

Did I Make Myself Clear? The Fed and the Market Under the 2020 Monetary Policy Framework

Anna Cieslak, Michael McMahon, Hao Pang

Discussant: Alessandro Villa

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cieslak-1080-Did I Make Myself Clear_ The Fed and the Market Under the 2020 Monetary Policy.pdf


Transaction Costs and the Stochastic Discount Factor

Daniele Bianchi, Teng Jiao, Hao Ma

Discussant: Landon Ross

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bianchi-142-Transaction Costs and the Stochastic Discount Factor.pdf


Cross-Sectional Learning and Inference for the Stochastic Discount Factor

Zhanhui Chen, Yi Ding, Yingying Li, Xinghua Zheng

Discussant: Leland Bybee

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-336-Cross-Sectional Learning and Inference for the Stochastic Discount Factor.pdf
Market Frictions, Anomalies, and Behavioral Drivers
1:30pm - 3:15pm
Pacific 2
Dmitriy Muravyev
Location: Pacific 2
Session Chair: Dmitriy Muravyev, University of Illinois Urbana-Champaign

Coherent Option Pricing

Charles Cao, Daniel McKeever, Tim Simin

Discussant: Alexander Ober

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cao-936-Coherent Option Pricing.pdf


Robinhood’s Forced Liquidations

Diego Amaya, Pedro García-Ares, Neil Pearson, Aurelio Vasquez

Discussant: Taisiya Sikorskaya

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Amaya-1137-Robinhood’s Forced Liquidations.pdf


In Search of Seasonality in Intraday and Overnight Option Returns

Turan G. Bali, Amit Goyal, Mathis Moerke, Florian Weigert

Discussant: Dominik Roesch

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bali-420-In Search of Seasonality in Intraday and Overnight Option Returns.pdf
Bond Market Microstructure: Auctions, Dealers, and Public Finance
3:30pm - 5:15pm
Pacific 2
Giang Nguyen
Location: Pacific 2
Session Chair: Giang Nguyen, Pennsylvania State University

More Investors, More Problems? Bond Market Liberalization and Innovation

Cyrus Aghamolla, Renhui Fu, Richard Thakor, Yanhui Wang

Discussant: Hala Moussawi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Aghamolla-331-More Investors, More Problems_ Bond Market Liberalization and Innovation.pdf


Treasury Auctions and Long-Term Bond Yields

Fabricius Somogyi, Jonathan Wallen, Lingdi Xu

Discussant: Eric Richert

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Somogyi-681-Treasury Auctions and Long-Term Bond Yields.pdf


Dealer Quid Pro Quo in the Municipal Bond Market

Casey Dougal, Daniel Rettl, Vasily Yakimenko

Discussant: Renping Li

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Dougal-1075-Dealer Quid Pro Quo in the Municipal Bond Market.pdf
Unconventional Determinants of Asset Prices
1:30pm - 3:15pm
Pacific 3
Ljubica Georgievska
Location: Pacific 3
Session Chair: Ljubica Georgievska, New York University

Inefficient IPO Pricing? Evidence from Insiders’ Trades at Rival Firms

David Cicero, Mingzhi Du, Zhongling Qin

Discussant: Alan Crane

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cicero-809-Inefficient IPO Pricing_ Evidence from Insiders’ Trades.pdf


Household Portfolio and Deposit Insurance: Implications for the Supply of Safe Assets

Pulak Ghosh, Nicola Limodio, Nishant Vats

Discussant: Julio Miguel Gálvez

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ghosh-227-Household Portfolio and Deposit Insurance.pdf


When Growth Fuels Climate Risk and Climate Propels Decarbonization: A Model of Climate Feedback and Asset Pricing

Ravi Bansal, Dana Kiku

Discussant: Vaska Atta-Darkua

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bansal-614-When Growth Fuels Climate Risk and Climate Propels Decarbonization.pdf
Insiders and Outsiders
3:30pm - 5:15pm
Pacific 3
Vyacheslav Fos
Location: Pacific 3
Session Chair: Vyacheslav Fos, Boston College

Mixed Messages: Strategic Tonal Inconsistency and Recovery of the PEAD Anomaly

Elham Tabatabaei

Discussant: Quoc Nguyen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Tabatabaei-1190-Mixed Messages.pdf


Inside Out: Who Trade Before the Start of Cyber Attacks?

Xi Dong, Edward Xuejun Li, Xintian Lin, Xin Yuan

Discussant: Thomas Ernst

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Dong-550-Inside Out.pdf


Detecting Informed Trade by Corporate Insiders

Patrick Blonien, Alan Crane, Kevin Crotty

Discussant: Vincent Bogousslavsky

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Blonien-607-Detecting Informed Trade by Corporate Insiders.pdf
Registration
11:30am - 5:00pm
Pacific Foyer - 2nd Floor
Location: Pacific Foyer - 2nd Floor
Coffee Break
3:15pm - 3:30pm
Pacific Foyer - 2nd Floor
Location: Pacific Foyer - 2nd Floor
Evening Reception
6:30pm - 7:30pm
Atlantic Foyer - 1st Floor
Location: Atlantic Foyer - 1st Floor
Keynote Address
5:30pm - 6:30pm
Atlantic D - 1st Floor
Location: Atlantic D - 1st Floor
Keynote Speaker: Itay Goldstein, University of Pennsylvania
Exhibitors
1:00pm - 5:00pm
2nd Floor
Location: 2nd Floor