Provisional Programme (subject to change)

08:30-09:00     Coffee

08:50-09:00     Welcome

9:00-09:50     “The Corporate Bond Factor Zoo” by Alexander Dickerson (University of New South Wales, AU), Christian Julliard (London School of Economics, UK), and Philippe Mueller (Warwick University, UK).

Discussant: Irina Zviadadze (HEC Paris Business School, FR).

09:50-10:40     “Intangible capital, non-rivalry, and growth” by Nicolas Crouzet (Northwestern University, US), Janice Eberly (Northwestern University, US), Andrea Eisfeldt (University of California, Los Angeles, US), and Dimitris Papanikolaou (Northwestern University, US)

Discussant: Chang-Tai Hsieh (University of Chicago Booth School of Business, US)

10:40-11:00     Break

11:00-11:50     “Debt and Deficits: Fiscal Analysis with Stationary Ratios” by John Y. Campbell (Harvard University, US), Can Gao (University of St. Gallen, CH), and Ian W. R. Martin (London School of Economics, UK)

Discussant: Bernard Dumas (INSEAD, FR)

11:50-12:50     Keynote address: “Rethinking capitalism: the power of creative destruction” by Philippe Aghion (INSEAD, FR, and London School of Economics, UK)

12:50-14:00     Lunch and PhD poster session:

– “Bank Funding to Nonbank Financiers: Risk-Sharing or Regulatory Arbitrage?” by Clara (Chi) Xu (Wharton School, US)

– “Pricing Disaster Risk in Corporate Bonds” by Cynthia Yin (Ohio State University, US)

– “Asset Purchase Programs and the Exchange Rate” by Sinem Yagmur Toraman (Johns Hopkins University, US)

– “The Rise and Fall of Investment: Rethinking Q theory in Equilibrium” by Xinwei Li and Xinyu Liu (INSEAD, FR)

– “Somebody Stop Me: The Asset Pricing Implications of Principal-Agent Conflicts” by Juan Carlos Zelaya-Mejıa (BI Norwegian Business School, NO)

14:00-14:50     “Risk from the Inside Out: Understanding Firm Risk through Employee News Consumption” by Fahiz Baba-Yara (Indiana University, US), Fotis Grigoris (University of Iowa, US), and Preetesh Kantak (Indiana University, US)

Discussant: Joel Peress (INSEAD, FR)

14:50-15:10     Break

15:10-16:00     “Corporate tax avoidance, firm size, and capital misallocation” by Brent Glover (Carnegie Mellon University, US) and Oliver Levine (University of Wisconsin–Madison, US)

Discussant: Gian Luca Clementi (New York University, US)

16:00-16:50     “Unlocking Mortgage Lock-In: Evidence From a Spatial Housing Ladder Model by Julia Fonseca (University of Illinois at Urbana-Champaign, US), Lu Liu (Wharton School, US), and Pierre Mabille (INSEAD, FR)

Discussant: Paul Willen (Federal Reserve Bank of Boston, US)                                        

16:50     Dinner in the Academy