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, 10:13:07pm PDT

 
Fri13Mar
Adriatic
Aegean
Baltic
Bering
Caribbean
Caspian
Pacific 1
Pacific 2
Pacific 3
Pacific Foyer - 2nd Floor
Atlantic Foyer - 1st Floor
Atlantic D - 1st Floor
Atlantic E - 1st Floor
2nd Floor
7:00am
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
Doctoral Symposium - Shock Transmission
8:00am - 9:45am
Adriatic
Andres Almazan
Location: Adriatic
Session Chair: Andres Almazan, University of Texas at Austin

Monetary Transmission in Equity Markets: Evidence from Financial Intermediaries

Pranav Garg, Matthew Famiglietti

Discussant: Felipe Varas

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Garg-157-Monetary Transmission in Equity Markets.pdf


Private Fund Capital Calls, Investor Portfolios, and Spillovers

Tiange Ye

Discussant: Veronika Pool

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ye-523-Private Fund Capital Calls, Investor Portfolios, and Spillovers.pdf


Local Government Fiscal Policy and Bond Valuation

Yun Joo An

Discussant: John Hund

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"An-583-Local Government Fiscal Policy and Bond Valuation.pdf
Doctoral Symposium - Finance and Institutions
10:00am - 11:45am
Adriatic
Andres Almazan
Location: Adriatic
Session Chair: Andres Almazan, University of Texas at Austin

Returns to Scale in Passive Management: Evidence from ETFs

Bong Ko

Discussant: Alessandro Previtero

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ko-190-Returns to Scale in Passive Management.pdf


Reaching for Yield in Target Date Funds

Sejin Kang

Discussant: Abhishek Bhardwaj

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kang-490-Reaching for Yield in Target Date Funds.pdf


Young Homeownership: Never Entered or Early Exit?

Prateek Mahajan

Discussant: Alan Crane

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Mahajan-1041-Young Homeownership.pdf
Doctoral Symposium - Corporate Finance
1:30pm - 3:15pm
Adriatic
Andres Almazan
Location: Adriatic
Session Chair: Andres Almazan, University of Texas at Austin

Bridging Markets: Equity Investors' Dual Roles in Corporate Debt Financing

Jing Gao

Discussant: Pradeep Muthukrishnan

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gao-191-Bridging Markets.pdf


Corporate Finance in the Subscription Economy

Matthew Hagerty

Discussant: Brian Waters

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Hagerty-378-Corporate Finance in the Subscription Economy.pdf


Financing Risk and Startup Growth

Xugan Chen

Discussant: Andrea Gamba

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-667-Financing Risk and Startup Growth.pdf
Access to Finance
3:30pm - 5:15pm
Adriatic
Paul Beaumont
Location: Adriatic
Session Chair: Paul Beaumont, McGill University

Corporate Liquidity Supply from Non-Bank Intermediaries and the Real Effects of Factoring

Henry Zhang, Victor Orestes, Thiago Silva

Discussant: Gustavo de Souza

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Zhang-729-Corporate Liquidity Supply from Non-Bank Intermediaries and the Real Effects.pdf


Group Decision Making Under Real World Uncertainty: Evidence From the Internal Investment Process of a Venture Capital (VC)-Backed Startup Accelerator

Tristan James Fitzgerald, Korok Ray

Discussant: Jun Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Fitzgerald-891-Group Decision Making Under Real World Uncertainty.pdf


How Do Public and Private Firms Respond to Monetary Policy Shocks?

Mehdi Beyhaghi, Murray Frank, Ping McLemore, Ali Sanati

Discussant: Caroline Genc

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Beyhaghi-1220-How Do Public and Private Firms Respond to Monetary Policy Shocks_.pdf
Policy Risk and Asset Prices
8:00am - 9:45am
Aegean
Alessandro Melone
Location: Aegean
Session Chair: Alessandro Melone, Ohio State University

Canaries in the Coal Mine: Firm Response to Biodiversity Transition Risk

Ricardo Pena, Shikhar Singla

Discussant: Shaojun Zhang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Pena-847-Canaries in the Coal Mine.pdf


Uncertainty, Stock Prices, and Debt Structure

Ali Ozdagli, Jianlin Wang

Discussant: Ali Sanati

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ozdagli-341-Uncertainty, Stock Prices, and Debt Structure.pdf


Dirty Business: Transition Risk of Factor Portfolios

Ravi Jagannathan, Iwan Meier, Valeri Sokolovski

Discussant: Tuomas Tomunen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Jagannathan-455-Dirty Business.pdf
Beliefs
10:00am - 11:45am
Aegean
Hongjun Yan
Location: Aegean
Session Chair: Hongjun Yan, DePaul University

Expectations and Experience Effects: New Facts From an Empirical Model

Heiner Beckmeyer, Ahmed Guecioueur

Discussant: Zhongtian Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Beckmeyer-281-Expectations and Experience Effects.pdf


Belief Distortions, Asset Prices, and Unemployment Fluctuations

Do Lee

Discussant: Mete Kilic

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lee-776-Belief Distortions, Asset Prices, and Unemployment Fluctuations.pdf


Does Climate Change Affect Retail Investors? Your Opinion Matters

Ai He, Siwen Zhang

Discussant: Lei Gao

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"He-906-Does Climate Change Affect Retail Investors_ Your Opinion Matters.pdf
Investor Behavior
1:30pm - 3:15pm
Aegean
Dexin Zhou
Location: Aegean
Session Chair: Dexin Zhou, Baruch College

Pass-through Mutual Funds, Flow of Funds, and Low-Risk Anomaly

Seokwoo Lee, Matthew Linn

Discussant: Xindi He

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lee-657-Pass-through Mutual Funds, Flow of Funds, and Low-Risk Anomaly.pdf


When Retail Meets Informed: How News Days Drive Retail Losses

Azi Ben-Rephael, Vincent Bogousslavsky, Dmitriy Muravyev

Discussant: Ferhat Akbas

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ben-Rephael-916-When Retail Meets Informed.pdf


Shadow of Loss: Mutual Fund Tail Behavior and Investor Flows

Yong Chen, Wenting Dai

Discussant: Yijun Zhou

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-1143-Shadow of Loss.pdf
Volatility, Risk, and Returns
3:30pm - 5:15pm
Aegean
Zhi Da
Location: Aegean
Session Chair: Zhi Da, University of Notre Dame

Optimal Sharpe Ratio Timing with Stop Loss

Yufeng Han, Hong Liu, Jing Xu, Guofu Zhou

Discussant: Michael O'Doherty

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Han-1156-Optimal Sharpe Ratio Timing with Stop Loss.pdf


A Century of Market Reversals: Resurrecting Volatility

Vincent Bogousslavsky, Blake LeBaron, Jeffrey Pontiff

Discussant: Huseyin Gulen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bogousslavsky-585-A Century of Market Reversals.pdf


Local Estimation for Option Pricing: Improving Forecasts with Market State Information

Hyung Joo Kim, Dong Hwan Oh

Discussant: Junbo Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kim-632-Local Estimation for Option Pricing.pdf
Funds and Corporate Governance
8:00am - 9:45am
Baltic
Irene Yi
Location: Baltic
Session Chair: Irene Yi, University of Toronto

All Shareholder Votes Are Not Created Equal

Davidson Heath, Da Huang, Chong Shu

Discussant: Vyacheslav Fos

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Heath-138-All Shareholder Votes Are Not Created Equal.pdf


Fund Proliferation, Decentralization, and Shareholder Power

Andrey Malenko, Nadya Malenko, Anton Tsoy

Discussant: Ehsan Azarmsa

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Malenko-377-Fund Proliferation, Decentralization, and Shareholder Power.pdf


Control Rights or Wrongs? Active versus Index Governance

David K. Musto, Anne M. Tucker, Begum Ipek Yavuz

Discussant: Tor-Erik Bakke

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Musto-620-Control Rights or Wrongs_ Active versus Index Governance.pdf
ESG and Strategic Firm Choices
10:00am - 11:45am
Baltic
Zoey Zhou
Location: Baltic
Session Chair: Zoey Zhou, Columbia University

Do Firms Become More Socially Responsible Reacting to School Shootings?

Jisok Kang, Hui Xu

Discussant: Zhanhui Chen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kang-409-Do Firms Become More Socially Responsible Reacting.pdf


Temperature, Adaptation, and Local Industry Concentration

Jacopo Ponticelli, Qiping Xu, Stefan Zeume

Discussant: Andrew Hultgren

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ponticelli-777-Temperature, Adaptation, and Local Industry Concentration.pdf


Two Centuries of U.S. Innovation: Firms' Internal Networks and Resilience to Disasters

Mathias Kruttli, Noah Stoffman, Sumudu Watugala

Discussant: Jiajie Xu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kruttli-873-Two Centuries of US Innovation.pdf
The Allocation of Green Capital: Markets and Government Incentives
1:30pm - 3:15pm
Baltic
Aymeric Bellon
Location: Baltic
Session Chair: Aymeric Bellon, University of North Carolina at Chapel Hill

The Unintended Consequences of Carbon Markets

Lior Shabtai

Discussant: Ghassane Benmir

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Shabtai-1051-The Unintended Consequences of Carbon Markets.pdf


The Green Value of BigTech Credit

Dan Su, Peng Wang, Xinyi Wang, Xiaoyun Yu

Discussant: Mayank Kumar

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Su-379-The Green Value of BigTech Credit.pdf


Green Waste

Tom Meling, Magne Mogstad, Ingvil Gaarder, Morten Grindaker

Discussant: Sophie Shive

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Meling-165-Green Waste.pdf
Attention to ESG and the Consequent Effects
3:30pm - 5:15pm
Baltic
Sumudu Watugala
Location: Baltic
Session Chair: Sumudu Watugala, Indiana University

Can US Equity Funds Time ESG Score Updates?

Serge Darolles, Anouck Faverjon, Marie Lambert

Discussant: Nitish Kumar

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Darolles-951-Can US Equity Funds Time ESG Score Updates_.pdf


Carbon in the Cloud

Tingyu Yu

Discussant: Nora Pankratz

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Yu-985-Carbon in the Cloud.pdf


Climate Risk, Credit, and Food Security

Jess Cornaggia, Jay Li

Discussant: Ai He

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cornaggia-507-Climate Risk, Credit, and Food Security.pdf
Cost of Credit: Transmission Mechanisms
8:00am - 9:45am
Bering
Camelia Minoiu
Location: Bering
Session Chair: Camelia Minoiu, Federal Reserve Bank of Atlanta

The Transmission of Corporate Tax Cuts to Consumer Loans: Evidence from the TCJA

Joao Granja, Fabian Nagel, Arndt Weinrich

Discussant: Carlo Wix

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Granja-403-The Transmission of Corporate Tax Cuts to Consumer Loans.pdf


The Response of Debtors to Rate Changes

Virginia Gianinazzi, Andreas Fuster, Andreas Hackethal, Philip Schnorpfeil, Michael Weber

Discussant: Xu Lu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gianinazzi-613-The Response of Debtors to Rate Changes.pdf


When Banks Fail: Depositor Attention and the Cost of Funding for Survivors

Brian Jonghwan Lee, Stefan Walz

Discussant: Ioana Neamtu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lee-628-When Banks Fail.pdf
Financial Inclusion I
10:00am - 11:45am
Bering
Isaac Hacamo
Location: Bering
Session Chair: Isaac Hacamo, Indiana University

Shedding Light on Bias: Consumer Complaint Disclosure and Racial Equity in Financial Services

Xiang Li, Ningzhe Zhou

Discussant: Ramona Dagostino

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Li-114-Shedding Light on Bias.pdf


Partisan Loan Officers and the Racial Gap in Mortgage Lending

Yongqiang Chu

Discussant: Runjing Lu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chu-765-Partisan Loan Officers and the Racial Gap in Mortgage Lending.pdf


Information Regimes and Financial Inclusion

Agustin Hurtado

Discussant: Avantika Pal

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Hurtado-1128-Information Regimes and Financial Inclusion.pdf
Financial inclusion II
1:30pm - 3:15pm
Bering
Jacelly Cespedes
Location: Bering
Session Chair: Jacelly Cespedes, University of Minnesota

The Costs of Financial Fraud Victimization

Ankit Kalda, David Sovich

Discussant: Sharada Sridhar

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kalda-1160-The Costs of Financial Fraud Victimization.pdf


Economic Opportunity Costs: Banking Access and Educational (Dis)Investment

Sumit Agarwal, Yuqi Chang, Pulak Ghosh, Arkodipta Sarkar

Discussant: Paolina Medina

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Agarwal-744-Economic Opportunity Costs.pdf


Immigration and Credit in America

J. Anthony Cookson, Benedict Guttman-Kenney, William Mullins

Discussant: Agustin Hurtado

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cookson-653-Immigration and Credit in America.pdf
Emerging Markets
3:30pm - 5:15pm
Bering
Meghana Ayyagari
Location: Bering
Session Chair: Meghana Ayyagari, George Washington University

Crypto Capture of Foreign Aid

Sumit Agarwal, Peiyi Jin, Eswar Prasad, Daniel Rabetti

Discussant: Michael Sockin

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Agarwal-742-Crypto Capture of Foreign Aid.pdf


Behind Dollar Savings in Mutual Funds: Are Shifting Sands Threatening Financial Stability?

Bryan Gutierrez

Discussant: Ioana Neamtu

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gutierrez-1050-Behind Dollar Savings in Mutual Funds.pdf


Crowding Out and Banking Crises

Pablo Hernando-Kaminsky

Discussant: Yevhenii Usenko

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Hernando-Kaminsky-1096-Crowding Out and Banking Crises.pdf
Corporate Financing and Hedging
8:00am - 9:45am
Caribbean
Fotis Grigoris
Location: Caribbean
Session Chair: Fotis Grigoris, University of Iowa

Public Debt and Private Investment: The Role of Firm Leverage

Alex Hsu, Altan Pazarbaşı, Andrea Tamoni

Discussant: Michele Andreolli

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Hsu-991-Public Debt and Private Investment.pdf


Financing and the Green Paradox

Rui Albuquerque, Mathias Kruttli, Yiding Ma, Sumudu Watugala

Discussant: Christoph Herpfer

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Albuquerque-643-Financing and the Green Paradox.pdf


The Economics of Financial and Operational Hedging: Insights from U.S. Power Plants

Alvin Chen, Ran Guo, Haohang Wu, Dong Yan

Discussant: Ioannis Branikas

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-799-The Economics of Financial and Operational Hedging.pdf
Unintended Regulation
10:00am - 11:45am
Caribbean
James Weston
Location: Caribbean
Session Chair: James Weston, Rice University

The Road to False Positives: Indirect Effects of Reg SHO

Bernard Black, Hemang Desai, Kate Litvak, Woongsun Yoo, Jeff Jiewei Yu

Discussant: Sébastien Michenaud

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Black-284-The Road to False Positives.pdf


The Real Effects of Liquidity Relief: Commercial Rent Forbearance in the Covid-19 Recession

Angela Ma

Discussant: Benedict Guttman-Kenney

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ma-412-The Real Effects of Liquidity Relief.pdf


How Do Debt Collection Restrictions Affect Hospitals and Patients?

Christine Zhuowei Huang, Amit Kumar, Lynn Linghuan Wang

Discussant: Christoph Herpfer

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Huang-807-How Do Debt Collection Restrictions Affect Hospitals and Patients_.pdf
Information and Markets
1:30pm - 3:15pm
Caribbean
Russell Jame
Location: Caribbean
Session Chair: Russell Jame, University of Kentucky

AI Washing

Boyuan Li

Discussant: Michael Yip

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Li-956-AI Washing.pdf


Organized Crime, Public Procurement, and Firms

Elena Stella

Discussant: Pablo Slutzky

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Stella-868-Organized Crime, Public Procurement, and Firms.pdf


Salient Cues of Economic Transitions in Analyst Forecasting: Evidence from the Electric Vehicle Era

Xueqing Geng, Jarrad Harford, Weikai Li, Yonghao Zhai

Discussant: Feng Chi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Geng-335-Salient Cues of Economic Transitions in Analyst Forecasting.pdf
Speculation, Hedging, and Rollover Risk in International Financial Markets
3:30pm - 5:15pm
Caribbean
Fabricius Somogyi
Location: Caribbean
Session Chair: Fabricius Somogyi, Northeastern University

Who Carries?

Alex Ferreira, Giuliano Ferreira, Miguel León-Ledesma, Rory Mullen

Discussant: Valeri Sokolovski

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ferreira-126-Who Carries_.pdf


Speculation, Forward Exchange Demand, and CIP Deviations in Emerging Economies

Pierre De Leo, Lorena Keller, Dongchen Zou

Discussant: Victor Degorce

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"De Leo-357-Speculation, Forward Exchange Demand, and CIP Deviations.pdf


Local Currency Debt and Sovereign Rollover Risk

Jaewon Choi, Sebastiao Oliveira, Jay Rafi, Josef Zechner

Discussant: Mark Taylor

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Choi-817-Local Currency Debt and Sovereign Rollover Risk.pdf
Networks, Knowledge, and M&A Outcomes
8:00am - 9:45am
Caspian
Liu Yang
Location: Caspian
Session Chair: Liu Yang, University of Maryland

Try Before You Buy: Measuring Innovation Synergy Using Textual Analysis

Haneul Yi

Discussant: Jing Xue

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Yi-483-Try Before You Buy.pdf


Blockholder Networks, Information Exchange, and M&A Performance

Gishan Dissanaike, Wolfgang Drobetz, Marwin Moenkemeyer, Henning Schroeder

Discussant: Noah Stoffman

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Dissanaike-122-Blockholder Networks, Information Exchange, and M&A Performance.pdf


When Buy-and-Build Breaks: Serial Private Equity Acquisitions in the Hospital Industry

Sungil Kim

Discussant: Janet Gao

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kim-183-When Buy-and-Build Breaks.pdf
Financing and Oversight in M&A
10:00am - 11:45am
Caspian
Richard Thakor
Location: Caspian
Session Chair: Richard Thakor, University of Minnesota

Why Are Acquisitions of Unlisted Firms Better Deals? Evidence from OTC Markets

Markus Lithell

Discussant: Ali Sanati

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lithell-857-Why Are Acquisitions of Unlisted Firms Better Deals_ Evidence.pdf


The Role of Credit Lines in Funding Takeovers

Trang Vu

Discussant: Yakshup Chopra

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Vu-329-The Role of Credit Lines in Funding Takeovers.pdf


Watchdog or Showdog? Spotlight Chasing in Antitrust Enforcement

Tianshu Lyu, Zunda Winston Xu

Discussant: Spyridon Lagaras

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lyu-1169-Watchdog or Showdog_ Spotlight Chasing in Antitrust Enforcement.pdf
Intermediation
1:30pm - 3:15pm
Caspian
Veronika Pool
Location: Caspian
Session Chair: Veronika Pool, Vanderbilt University

The Hidden Costs of Financial Services: Consumer Complaints and Financial Restitution

Charlotte Haendler, Rawley Heimer

Discussant: Avantika Pal

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Haendler-665-The Hidden Costs of Financial Services.pdf


Securities losses, Interbank Markets, and Monetary Policy Transmission: Evidence from the Eurozone

Mariassunta Giannetti, Martina Jasova, Caterina Mendicino, Dominik Supera

Discussant: Elena Loutskina

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Giannetti-691-Securities losses, Interbank Markets, and Monetary Policy Transmission.pdf


Rebalancing of Currency Hedging and the Impact on Exchange Rates

Elizaveta Sizova, Olav Syrstad, Ingebjørg Hansen Sævareid

Discussant: Fabricius Somogyi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Sizova-830-Rebalancing of Currency Hedging and the Impact on Exchange Rates.pdf


Relationship Lending in Bond Markets?

Paul Beaumont, David Schumacher, Gregory Weitzner

Discussant: Alex Zhou

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Beaumont-573-Relationship Lending in Bond Markets_.pdf
The Real Effects of Polarization and Partisanship
3:30pm - 5:15pm
Caspian
Runjing Lu
Location: Caspian
Session Chair: Runjing Lu, University of Toronto

Partisan Borders: Political Ideology and Frictions in Interstate Job-to-Job Flows

Brooke Wang

Discussant: Wanyi Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Wang-673-Partisan Borders.pdf


Fiscal Risk Perception: Evidence from Analyst Forecasts

Nancy Xu, Yuxi Yang, Yang You

Discussant: Matthew Denes

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Xu-701-Fiscal Risk Perception.pdf


Political Polarization and Corporate Investment

Julian Atanassov, Brandon Julio, Tiecheng Leng, Qiaoqiao Zhu

Discussant: Ramona Dagostino

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Atanassov-826-Political Polarization and Corporate Investment.pdf
Entrepreneurship and Labor Market Shocks
8:00am - 9:45am
Pacific 1
William Mann
Location: Pacific 1
Session Chair: William Mann, Emory University

Entrepreneur Experience and Success: Causal Evidence from Immigration Wait Lines

Abhinav Gupta, Franklin Qian, Yifan Sun

Discussant: Natee Amornsiripanitch

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Gupta-178-Entrepreneur Experience and Success.pdf


Aiming Low: Necessity Entrepreneurs and the Choice to Incorporate

Philippe d'Astous, Frank-Olivier Garane, Barry Scholnick

Discussant: Leandro Sanz

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"d_Astous-247-Aiming Low.pdf


The "Great Reshuffling" and Entrepreneurship

Matthew Denes, Spyridon Lagaras, Margarita Tsoutsoura

Discussant: Daniel Bias

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Denes-1138-The _Great Reshuffling_ and Entrepreneurship.pdf
Information Acquisition and Mutual Fund Trading
10:00am - 11:45am
Pacific 1
Zoran Ivkovich
Location: Pacific 1
Session Chair: Zoran Ivkovich, Michigan State University

Familiarity in International Fund Allocation and Performance: Information or Bias

Kevin Zheyuan Cui, Yinan Qiu

Discussant: Ryan Israelsen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cui-202-Familiarity in International Fund Allocation and Performance.pdf


The Complex Materiality of Proprietary ESG Information: Evidence from Actively Managed Funds

Martijn Cremers, Timothy Riley, Rafael Zambrana

Discussant: Jan Schneemeier

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Cremers-869-The Complex Materiality of Proprietary ESG Information.pdf


Complementarities in Information Acquisition: Evidence from Mandatory Portfolio Disclosures

Raja Reddy Bujunoori

Discussant: Stanislav Sokolinski

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bujunoori-467-Complementarities in Information Acquisition.pdf
Imperfect Competition and Price Efficiency
1:30pm - 3:15pm
Pacific 1
Michael Sockin
Location: Pacific 1
Session Chair: Michael Sockin, University of Texas at Austin

When Silicon Valley Meets Wall Street: A Theory of Financial Overengineering

Jun Aoyagi, Yuki Sato

Discussant: Chaojun Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Aoyagi-288-When Silicon Valley Meets Wall Street.pdf


Institutional Ownership Concentration and Informational Efficiency

Yan Xiong, Liyan Yang, Zexin Zheng

Discussant: Alberto Teguia

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Xiong-309-Institutional Ownership Concentration and Informational Efficiency.pdf


Riding or Attacking the Bubble? Equity Bubbles and Capital Structure Arbitrage

Paul Zimmermann

Discussant: Chen Wang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Zimmermann-738-Riding or Attacking the Bubble_ Equity Bubbles and Capital Structure Arbitrage.pdf
Regulation, Private Capital, and Banks
3:30pm - 5:15pm
Pacific 1
Shohini Kundu
Location: Pacific 1
Session Chair: Shohini Kundu, University of California, Los Angeles

The Private Equity Experiment of U.S. Banking Industry

Michal Kowalik, Gokhan Torna

Discussant: Young Soo Jang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Kowalik-119-The Private Equity Experiment of US Banking Industry.pdf


Institutional Investor Protection: Evidence from Conflict-of-Interest Regulation in Private Equity

Yina Yang

Discussant: Gunjan Seth

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Yang-462-Institutional Investor Protection.pdf


Banks on the Block: Branch Proximity and Small Business Performance

Vojislav Maksimovic, Elliot Oh, Liu Yang

Discussant: Stefan Walz

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Maksimovic-866-Banks on the Block.pdf
Banks and Monetary Policy
8:00am - 9:45am
Pacific 2
Jincheng Tong
Location: Pacific 2
Session Chair: Jincheng Tong, University of Toronto

Ample Reserves for Whom? The Role of Foreign Banks in U.S. Monetary Policy Implementation

Junko Oguri, Cristoforo Pizzimenti

Discussant: Jing Gao

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Oguri-1009-Ample Reserves for Whom_ The Role of Foreign Banks.pdf


Banks and the State-Dependent Effects of Monetary Policy

Martin S. Eichenbaum, Federico Puglisi, Sergio Rebelo, Mathias Trabandt

Discussant: Min Fang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Eichenbaum-785-Banks and the State-Dependent Effects of Monetary Policy.pdf


Indirect Credit Supply: How Bank Lending to Private Credit Shapes Monetary Policy Transmission

Sharjil Haque, Young Soo Jang, Jessie Jiaxu Wang

Discussant: Chuck Fang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Haque-214-Indirect Credit Supply.pdf
QJF Special Session
10:00am - 11:45am
Pacific 2
Fernando Zapatero
Location: Pacific 2
Session Chair: Fernando Zapatero, Boston University

Triangular Pure Parity Deviations

Ljubica Georgievska, Benjamin Karner, Olav Syrstad

Discussant: Fernando Zapatero

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Georgievska-1152-Triangular Pure Parity Deviations.pdf


The US Treasury’s Biggest Short: Duration in the Shadows

Ljubica Georgievska, Stefano Pegoraro, Anthony Saunders

Discussant: Abraham Ravid

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Georgievska-1166-The US Treasury’s Biggest Short.pdf


When Buys Move Markets More than Sells: How Institutions Boost Prices without Net Buying

Xiao Zhang

Discussant: Steven Malliaris

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Zhang-567-When Buys Move Markets More than Sells.pdf
Beliefs and Macroeconomic Risk Transmission
1:30pm - 3:15pm
Pacific 2
Altan Pazarbaşı
Location: Pacific 2
Session Chair: Altan Pazarbaşı, University of Iowa

Learning and Subjective Beliefs about Good and Bad Inflation Ranges

Mohammad Ghaderi, Sang Byung Seo, Ivan Shaliastovich

Discussant: Ram Yamarthy

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ghaderi-484-Learning and Subjective Beliefs about Good and Bad Inflation Ranges.pdf


Safe Haven Status of the U.S. Dollar, Dollar Index Options, and Quantitative Implications for Dynamic Currency Models

Gurdip Bakshi, John Crosby, Xiaohui Gao, Yuan Hu

Discussant: Andrea Vedolin

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Bakshi-1100-Safe Haven Status of the US Dollar, Dollar Index Options, and Quantitative.pdf


The Effects of Monetary Policy on Macroeconomic Expectations: High-Frequency Evidence from Traded Event Contracts

Eric Swanson, Renxuan Wang, Yanbin Wu

Discussant: Miguel Acosta

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Swanson-498-The Effects of Monetary Policy on Macroeconomic Expectations.pdf
Expectations and Banking
3:30pm - 5:15pm
Pacific 2
Dejanir Silva
Location: Pacific 2
Session Chair: Dejanir Silva, Purdue University

Granular Markups and Inflation Surge: the role of managerial incentives

Yuchen Chen, Juliana Salomao, Varun Sharma, Yicheng Wang

Discussant: Simcha Barkai

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-204-Granular Markups and Inflation Surge.pdf


Global Banks’ Macroeconomic Expectations and Credit Supply

Xiang Li, Steven Ongena

Discussant: Ricardo De la O

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Li-528-Global Banks’ Macroeconomic Expectations and Credit Supply.pdf


Banking on Inattention

Xu Lu, Lingxuan Wu

Discussant: William Diamond

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Lu-634-Banking on Inattention.pdf
Machine Learning, Expectations, and Information in Derivative Pricing
8:00am - 9:45am
Pacific 3
Pedro García-Ares
Location: Pacific 3
Session Chair: Pedro García-Ares, Instituto Tecnológico Autónomo de México

Subjective Expectations for Variance and Skewness: Evidence from Analyst Forecasts

Shuaiyu Chen, Shuaiqi Li, Yucheng Yang

Discussant: Ilias Filippou

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-513-Subjective Expectations for Variance and Skewness.pdf


The Network Foundations of Credit Counterparty Risk: Theory and Evidence

Belinda Chen, Jonathan Brogaard

Discussant: Kayla Freeman

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Chen-697-The Network Foundations of Credit Counterparty Risk.pdf


Unpacking Retail Trading Costs: the Role of Options Trading and Limit Order Usage

Yashar Barardehi, Vincent Bogousslavsky, Dmitriy Muravyev

Discussant: Thomas Ernst

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Barardehi-1073-Unpacking Retail Trading Costs.pdf
Market Microstructure: Recent Developments in Trading
10:00am - 11:45am
Pacific 3
Marc Lipson
Location: Pacific 3
Session Chair: Marc Lipson, University of Virginia

Nocturnal Trading

Gregory Eaton, Andriy Shkilko, Ingrid Werner

Discussant: Farshid Abdi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Eaton-251-Nocturnal Trading.pdf


Manipulating Algorithmic Markets

Pedro Tremacoldi-Rossi

Discussant: Dmitriy Muravyev

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Tremacoldi-Rossi-312-Manipulating Algorithmic Markets.pdf


Dark Crypto

Thomas Ernst, Bryan Routledge, Chester Spatt, Ariel Zetlin-Jones

Discussant: Dermot Murphy

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Ernst-328-Dark Crypto.pdf
Forecasting with Machine Learning
1:30pm - 3:15pm
Pacific 3
Fahiz Baba-Yara
Location: Pacific 3
Session Chair: Fahiz Baba-Yara, Indiana University

Market Risk Premium: A Single Optimal Predictive Factor in High Dimension

Fuwei Jiang, Kunpeng Li, Guoshi Tong, Guofu Zhou

Discussant: Adam Zhang

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Jiang-174-Market Risk Premium.pdf


Improving Hedge Fund Return Prediction: Dealing with Missing Data via Deep Learning

Ilias Filippou, Ioannis Psaradellis, David Rapach, Lazaros Zografopoulos

Discussant: Norman Guo

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Filippou-519-Improving Hedge Fund Return Prediction.pdf


Will AI Replace or Enhance Human Intelligence in Asset Management?

George Aragon, Hugh Kim, Vikram Nanda

Discussant: Pietro Bini

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Aragon-1119-Will AI Replace or Enhance Human Intelligence in Asset Management_.pdf
Blockchain & GenAI
3:30pm - 5:15pm
Pacific 3
Kuntara Pukthuanthong
Location: Pacific 3
Session Chair: Kuntara Pukthuanthong, University of Missouri

Harnessing Generative AI for Economic Insights

Jialin Qian, Manish Jha, Baozhong Yang, Michael Weber

Discussant: Vineet Bhagwat

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Qian-389-Harnessing Generative AI for Economic Insights.pdf


Irreversibility and Hysteresis in Blockchain Validation Markets

Peter Mueller

Discussant: KJ (Kyoung Jin) Choi

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Mueller-783-Irreversibility and Hysteresis in Blockchain Validation Markets.pdf


Systemic Risk by Design? Causal Evidence on Endogenous Blockchain Security

Pablo Azar, Maryam Farboodi

Discussant: Yikang Shen

<strong>pdf</strong>: Adobe Acrobat "Portable Document Format"Azar-1091-Systemic Risk by Design_ Causal Evidence on Endogenous Blockchain Security.pdf
Registration
7:30am - 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: Raghuram Rajan, University of Chicago
Luncheon, Membership Meeting and Presidential Address
12:00pm - 1:15pm
Atlantic E - 1st Floor
Location: Atlantic E - 1st Floor
Meals are by advance ticket purchase only and must be purchased online during conference registration.
Exhibitors
7:45am - 5:00pm
2nd Floor
Location: 2nd Floor
Coffee Break
9:45am - 10:00am
2nd Floor
Location: 2nd Floor