7/11/2016 Conference on Money Banking and Finance http://2016.mbfrome.it/xxv/program 1/27 REGISTER TO THE CONFERENCE NOW! Login Thursday 01 December 2016 08:00 09:00 09:00 09:10 Professor of Banking and Finance, University of Rome III, Italy 09:10 09:55 Chairperson, European Banking Authority, U.K. 10:00 11:30 Session: A1 Chairperson: Thorsten Lehnert, Luxembourg School of Finance Location: Room 16 Nominal Rigidities and the Term Structures of Equity and Bond Returns VazquezGrande Francisco, Lopez Pierlauro Presenter: VazquezGrande Francisco, Federal Reserve Board Discussant: Alain Coen, University of Québec at Montreal Bonds, Stocks, and Sources of Mispricing Jostova Gergana Presenter: Jostova Gergana, George Washington University Discussant: Nikolopoulos Konstantinos , Bangor University ConsumptionBased Asset Pricing and the CrossSection of Returns: the Role of Leverage Dam Lammertjan Presenter: Dam Lammertjan, University of Groningen Discussant: Thorsten Lehnert, Luxembourg School of Finance Session: A2
Transcript
7/11/2016 Conference on Money Banking and Finance
http://2016.mbfrome.it/xxv/program 1/27
REGISTER TO THE CONFERENCE NOW! Login
Thursday 01 December 2016
08:00 09:00
09:00 09:10
Professor of Banking and Finance, University of Rome III, Italy
09:10 09:55
Chairperson, European Banking Authority, U.K.
10:00 11:30 Session: A1
Chairperson: Thorsten Lehnert, Luxembourg School of FinanceLocation: Room 16
Nominal Rigidities and the Term Structures of Equity and BondReturnsVazquezGrande Francisco, Lopez PierlauroPresenter: VazquezGrande Francisco, Federal Reserve BoardDiscussant: Alain Coen, University of Québec at Montreal
Bonds, Stocks, and Sources of MispricingJostova GerganaPresenter: Jostova Gergana, George Washington UniversityDiscussant: Nikolopoulos Konstantinos , Bangor University
ConsumptionBased Asset Pricing and the CrossSection of Returns:the Role of LeverageDam LammertjanPresenter: Dam Lammertjan, University of GroningenDiscussant: Thorsten Lehnert, Luxembourg School of Finance
Chairperson: Previati Daniele Angelo, University of Rome IIILocation: Room 17
Can Words Breed or Kill Investment? Metaphors, Imagery, Affect andInvestor BehaviourPrast HenriëttePresenter: Prast Henriëtte, Tilburg UniversityDiscussant: Caratelli Massimo, University of Rome III
Credit Card Management and Financial Literacy among CollegeStudents. An Empirical Analysis of Consumers’ Anxiety Behavior onCredit Card RepaymentBarboza GustavoPresenter: Barboza Gustavo, Clarion University of PennsylvaniaDiscussant: Fattobene Lucrezia, University of Rome Tor Vergata
Exposure to Bankers: Networks and Stock Market ParticipationBorgers Arian, Pownall Rachel, Raes LouisPresenter: Pownall Rachel, Maastricht University and Tilburg UniversityDiscussant: Previati Daniele Angelo, University of Rome III
Session: A3
Chairperson: Hoesli Martin, University of GenevaLocation: Room 18
Globalisation and the Foreign Exchange Constraint in DevelopingCountriesBhattacharyya RanajoyPresenter: Bhattacharyya Ranajoy, Indian Institute Of Foreign TradeDiscussant: Hoesli Martin, University of Geneva
A MarketBased Indicator of Currency Risk: Evidence from AmericanDepositary ReceiptsRoevekamp Ingmar, Eichler StefanPresenter: Roevekamp Ingmar, University of HannoverDiscussant: Santos Dinis, University of Coimbra
Microfinance Investment Vehicles: Are They Performing in Line orBelow the Market Rate of Return?Chiappini Helen, La Torre MarioPresenter: La Torre Mario, Sapienza University of RomeDiscussant: Leoni Patrick, Kedge Business School
Session: A4
Chairperson: Piatti Domenico, University of BergamoLocation: Room 19
Nothing Special about Banks: Competition and Bank Lending inBritain, 18851925Dwarkasing Narly, Braggion Fabio, Moore LyndonPresenter: Dwarkasing Narly, University of BonnDiscussant: Benjamin Klaus, European Central Bank
Loan Loss Accounting Rules and Bank Lending over the Cycle:Evidence from a Global SamplePramor Marcus, Domikowsky Christian, Foos DanielPresenter: Pramor Marcus, Deutsche BundesbankDiscussant: Benetton Matteo, London School of Economics
Bank Loans, External Financing and Economic Activity in the EuroAreaAldasoro Iñaki, Unger RobertPresenter: Aldasoro Iñaki, Goethe University FrankfurtDiscussant: Piatti Domenico, University of Bergamo
Session: A5
Chairperson: Deglinnocenti Marta, University of SouthamptonLocation: Room 20
Bank Efficiency: Does Education of Bank Employees Matter?Tzeremes Nickolaos, Matousek RomanPresenter: Tzeremes Nickolaos, University of ThessalyDiscussant: Bianchi Nicola, University of Rome Tor Vergata
The Effects of Taxation on Bank Margins: Evidence from a QuasiNatural ExperimentSobiech Anna Lucia, Banerji Sanjay , Wilson John O. S., ChronopoulosDimitris K.Presenter: Sobiech Anna Lucia, University of St AndrewsDiscussant: Sist Federica, LUMSA University
The Impact of Independent and ‘‘Busy” Board Directors on Risk andShareholder Value of US Complex Bank Holding CompaniesDeglinnocenti MartaPresenter: Deglinnocenti Marta, University of SouthamptonDiscussant: Gilani Usman, University of Leeds
Liquidity Creation and Bank Capital in the EurozoneCasu Barbara, Di Pietro Filippo, TrujilloPonce AntonioPresenter: TrujilloPonce Antonio, Pablo de Olavide UniversityDiscussant: Ayadi Rym, HEC Montreal
Funding Risk and Collateralized LendingKoenig Philipp, Daniels TijmenPresenter: Koenig Philipp, German Institute for Economic Research (DIWBerlin)Discussant: Kukk Merike, Tallinn University of Technology and Bank ofEstonia
Financial Development, Bond Market Returns, and Stability:International EvidenceBoubaker Sabri, Nguyen Duc Khuong, Piljak Vanja, Savvides AndreasPresenter: Piljak Vanja, University of VaasaDiscussant: Park Kyounghoon, Bank of Korea
11:30 12:00
12:00 13:30 Session: B1
Chairperson: VazquezGrande Francisco, Federal Reserve BoardLocation: Room 16
Mutual Funds, Price Pressure and Index OptionsThorsten LehnertPresenter: Thorsten Lehnert, Luxembourg School of FinanceDiscussant: VazquezGrande Francisco, Federal Reserve Board
Real Estate as a Common Risk Factor in Bank StocksAlain Coen, Carmichael BenoitPresenter: Alain Coen, University of Québec at MontrealDiscussant: Jostova Gergana, George Washington University
A Horse for Almost Every Course; Forecasting in Banking and Financewith the Theta MethodNikolopoulos KonstantinosPresenter: Nikolopoulos Konstantinos , Bangor UniversityDiscussant: Dam Lammertjan, University of Groningen
Session: B2
Chairperson: Pownall Rachel, Maastricht University and Tilburg UniversityLocation: Room 17
Banks' Leverage Procyclicality: Does US Dollar Diversification ReallyMatter?Pedrono Justine, Aurélien ViolonPresenter: Pedrono Justine, Center for International Perspective Studies(CEPII)Discussant: Prast Henriëtte, Tilburg University
Bank RiskTaking and MisconductSakalauskaite IevaPresenter: Sakalauskaite Ieva, University of AmsterdamDiscussant: Pownall Rachel, Maastricht University and Tilburg University
Session: B3
Chairperson: Bagella Michele, University of Rome Tor VergataLocation: Room 18
How Friedman and Schwartz Became MonetaristsLothian James R., Tavlas GeorgePresenter: Lothian James R., Fordham University
Friedman, Chicago, and Monetary RulesDellas Harris, Tavlas GeorgePresenter: Dellas Harris, University of Bern, NBER and CEPR
Macroprudential Regulation of Banks and Financial InstitutionsDwyer Gerald P.Presenter: Dwyer Gerald P., Clemson University
Session: B4
Chairperson: Benzoni Luca, Federal Reserve Bank of ChicagoLocation: Room 19
Ceo Directors on Banks’ Boards; Does Financial Expertise Matter?Gilani Usman, Keasey Kevin, Vallascas FrancescoPresenter: Gilani Usman, University of LeedsDiscussant: Tzeremes Nickolaos, University of Thessaly
Bianchi Nicola, Fiordelisi Franco, Farina VincenzoPresenter: Bianchi Nicola, University of Rome Tor VergataDiscussant: Benzoni Luca, Federal Reserve Bank of Chicago
Firms’ Market Culture: The Role of Institutional Ownership, EarningsManagement and Crash RiskHarris Terry, Philip Dennis, Andreou Panayiotis C., Fiordelisi FrancoPresenter: Harris Terry, Durham UniversityDiscussant: Gilani Usman, University of Leeds
Financial Development and Economic Growth: the Role of ForeignOwned Banks in Cesee CountriesBongini Paola, IwaniczDrozdowska Małgorzata, Smaga Paweł, WitkowskiBartoszPresenter: Bongini Paola, University of MilanBicoccaDiscussant: Leon Florian, University of Luxembourg
Will Strangers Help You Enter? The Effect of Foreign Bank Presenceon New Firm EntryKalyvas Antonios, Bermpei Theodora, Neri LorenzoPresenter: Kalyvas Antonios, University of GreenwichDiscussant: d'Udekem Benoit, Free University of Bruxelles
Session: B6
Chairperson: Piljak Vanja, University of VaasaLocation: Room 21
Heterogeneous Procyclicality of Bank Leverage: Empirical Evidence ofU.S. Bank Holding CompaniesPark KyounghoonPresenter: Park Kyounghoon, Bank of KoreaDiscussant: TrujilloPonce Antonio, Pablo de Olavide University
What are the Triggers for Arrears on Debt? Evidence from QuarterlyPanel DataKukk MerikePresenter: Kukk Merike, Tallinn University of Technology and Bank of EstoniaDiscussant: Piljak Vanja, University of Vaasa
Bridging Tlac and Mrel: Do Bank Business Models Matter?Ayadi Rym, Ferri Giovanni, Michel KeoulaPresenter: Ayadi Rym, HEC MontrealDiscussant: Koenig Philipp, German Institute for Economic Research (DIWBerlin)
13:30 14:30
14:30 16:00 Session: C1
Chairperson: Nucci Francesco, Sapienza University of RomeLocation: Room 16
The Determinants of Cds Premium: What is the Impact of the FinancialCrisis?Di Tommaso Caterina, Drago DaniloPresenter: Di Tommaso Caterina, University of CalabriaDiscussant: Vitale Paolo, G. d'Annunzio University
Estimating the Tax and CreditEvent Risk Components of CreditSpreadsBenzoni LucaPresenter: Benzoni Luca, Federal Reserve Bank of ChicagoDiscussant: Goyenko Ruslan , McGill University
The Determinants of CDS Spreads: Evidence from the Model SpacePelster Matthias, Vilsmeier JohannesPresenter: Pelster Matthias, Leuphana UniversityDiscussant: GomezGonzalez Jose, Central Bank of Colombia
Session: C2
Chairperson: La Torre Mario, Sapienza University of RomeLocation: Room 17
Longrun Unemployment and Macroeconomic VolatilityFasani StefanoPresenter: Fasani Stefano, University of Rome Tor VergataDiscussant: Bhattacharyya Ranajoy, Indian Institute Of Foreign Trade
Heterogeneous Households, Distortive Taxation and MoneyFinancedFiscal StimulusPunzo ChiaraPresenter: Punzo Chiara, Lombardy Advanced School of EconomicResearchDiscussant: Roevekamp Ingmar, University of Hannover
Portfolio Enhancement via Credit Default Swap Indices Evidence fromthe United States and EuropeBenjamin Hippert, Sascha Tobias WengerekPresenter: Sascha Tobias Wengerek, University of PaderbornDiscussant: La Torre Mario, Sapienza University of Rome
Session: C3
Chairperson: Leoni Patrick, Kedge Business SchoolLocation: Room 18
Information, Stochastic Dominance and Bidding: the Case of TreasuryAuctionsLeoni PatrickPresenter: Leoni Patrick, Kedge Business SchoolDiscussant: Ciciretti Rocco, University of Rome Tor Vergata
Timing the Market with Own Stock. Evidence from a Bailout CountrySantos Dinis, Gama PauloPresenter: Santos Dinis, University of CoimbraDiscussant: Castellani Davide , University of Bergamo
High Frequency House Price Indexes with Scarce DataHoesli Martin, Bourassa StevenPresenter: Hoesli Martin, University of GenevaDiscussant: Uselli Andrea, University of Insubria
Chairperson: Bongini Paola, University of MilanBicoccaLocation: Room 19
How to Predict Financial Stress? An Assessment of Markov Switchingversus Logit ModelsThibaut Duprey, Benjamin KlausPresenter: Benjamin Klaus, European Central BankDiscussant: Kalyvas Antonios, University of Greenwich
Non Performing Loans, Moral Hazard & Supervisory Authority: theItalian Banking SystemCincinelli Peter, Piatti DomenicoPresenter: Piatti Domenico, University of BergamoDiscussant: Bongini Paola, University of MilanBicocca
Specialising in Risky Mortgages: Unintended Consequences of Basel IIBenetton Matteo, Eckley Peter, Garbarino Nicola, Kirwin Liam, Siciliani Paolo,Latsi GeorgiaPresenter: Benetton Matteo, London School of EconomicsDiscussant: Caballero Julian, InterAmerican Development Bank
Session: C5
Chairperson: Dwarkasing Narly, University of BonnLocation: Room 20
Explaining the Vanishing Effect in FinanceGrowth Nexus: Does CreditStructure Matter?Leon FlorianPresenter: Leon Florian, University of LuxembourgDiscussant: Dwarkasing Narly, University of Bonn
Rational Dividend Persistence in Bankingd'Udekem BenoitPresenter: d'Udekem Benoit, Free University of BruxellesDiscussant: Aldasoro Iñaki, Goethe University Frankfurt
Asset Sales and the Financial Conglomerate DiscountCuri Claudia, Murgia MaurizioPresenter: Curi Claudia, Free University of BozenBolzanoDiscussant: Pramor Marcus, Deutsche Bundesbank
Session: C6
Chairperson: Miklaszewska Ewa, Cracow University of EconomicsLocation: Room 21
The Nexus of Financial Inclusion and Financial Stability: a Study ofTradeoffs and SynergiesČihák Martin , Mare Davide, Melecky MartinPresenter: Mare Davide, University of EdinburghDiscussant: Buschmann Christian, Frankfurt School of Finance &Management
Stability of Banking Sectors in Cesee Countries. Is Foreign Capital Likea Mother Hen?IwaniczDrozdowska Małgorzata, Smaga Paweł, Witkowski BartoszPresenter: IwaniczDrozdowska Małgorzata, Warsaw School of EconomicsDiscussant: Miklaszewska Ewa, Cracow University of Economics
International Banking and CrossBorder Effects of PrudentialRegulation: Lessons from the Euro AreaZochowski Dawid, Nocciola Luca, Franch FabioPresenter: Zochowski Dawid, European Central BankDiscussant: Florian Kiesel, Technical University of Darmstadt
16:00 16:45
Director, Center for Research in International Economics (CREI), UniversitatPompeu Fabra. Research Professor, Barcelona Graduate School of Economics,SpainLocation: Room 1
17:00 17:05
The shuttle service is only for those who booked in advanced both the galadinner and Castel S. Angelo guided tour. The pick up point is in front of theUnivesity of Rome III (Via Silvio D'Amico 77) entrance.
20:30 23:00
The gala dinner will be held at Palazzo Patrizi, Piazza San Luigi dei Francesi,Roma The gala dinner is reserved for those who booked in advanced their ticket
Securitization and Aggregate Investment EfficiencyMirza Afrasiab, Stephens EricPresenter: Mirza Afrasiab, University of BirminghamDiscussant: Pelliccia Marco, Bangor University
Trade Credit in Times of Crisis: Evidence from European SmesBussoli Candida, Marino FrancescaPresenter: Bussoli Candida, LUM Jean Monnet UniversityDiscussant: Tavecchia Diego, Assifact
Funding Volatility, Securitization and the Smes’ Access to Bank CreditCastellani Davide , Caviezel Valeria, Viganò LauraPresenter: Castellani Davide , University of BergamoDiscussant: Galloppo Giuseppe, Tuscia University
Could Domestic Trade Credit Insurance Contracts be an EffectiveCollateral for Banks? A Quantitative Study on the Italian MarketBazzana Flavio, De Laurentis Giacomo, Pisani Raoul, Trinca Colonel RenataPresenter: Pisani Raoul, University of TrentoDiscussant: Hamaui Rony, Assifact
Family Firms and Access to Credit: Is Family Ownership Beneficial?Peruzzi Valentina, Murro PierluigiPresenter: Peruzzi Valentina, Polytechnic University of MarcheDiscussant: Andreasen Eugenia , University of Santiago
Insider Sales and Future Stock Price Crash Risk: FirmLevel AnalysisHe Guanming, Ren Helen, Taffler RichardPresenter: He Guanming, University of WarwickDiscussant: Peruzzi Valentina, Polytechnic University of Marche
All That Glitters is Not Gold: CEOs' celebrity beyond media contentCaiffa Marco, Farina Vincenzo, Fattobene LucreziaPresenter: Fattobene Lucrezia, University of Rome Tor VergataDiscussant: Yamada Kazuo, Nagasaki University
Diversity and Competence in Banks’ Boards. The Italian CaseLocatelli Rossella, Schena Cristiana Schena, Uselli Andrea, TandaAlessandraPresenter: Uselli Andrea, University of InsubriaDiscussant: Feldman David, UNSW Australia
Session: D3
Chairperson: Pozzolo Alberto Franco, Molise UniversityLocation: Room 18
Does the Camel Bank Ratings System Follow a Procyclical Pattern?Papanikolaou Nikolaos, Wolff ChristianPresenter: Papanikolaou Nikolaos, University of SussexDiscussant: Yildirim Canan, Kadir Has University
The Determinants of European Banks’ Capital Structure during theLast Decade and the Role Played by Regulation and Supervision: Dothey really matter?Oliveira Vitor, Raposo ClaraPresenter: Oliveira Vitor, Bank of Portugal and University of LisbonDiscussant: De Jonghe Olivier, Tilburg University
Credit Scores and Credit Market Outcomes: Evidence from the Ssbfand KfsCole RebelPresenter: Cole Rebel, Florida Atlantic UniversityDiscussant: Pozzolo Alberto Franco, Molise University
Do Capital Adequacy and Credit Quality Affects Systematic Risk? AnInvestigation on a Sample of European Listed Banks at Light of EbaStress TestsFloreani Josanco, Miani Stefano, Paltrinieri AndreaPresenter: Floreani Josanco, University of UdineDiscussant: Sobiech Anna Lucia, University of St Andrews
Session: D4
Chairperson: IwaniczDrozdowska Małgorzata, Warsaw School of EconomicsLocation: Room 19
Revaluating Firm Credit Risk – the Impact of the Rating Review Processon Credit MarketsFlorian Kiesel, Sascha Kolaric, Dirk SchiereckPresenter: Florian Kiesel, Technical University of DarmstadtDiscussant: IwaniczDrozdowska Małgorzata, Warsaw School of Economics
On the Efficiency of Emu Sovereign Debt PricingBuschmann Christian, Heidorn ThomasPresenter: Buschmann Christian, Frankfurt School of Finance &ManagementDiscussant: Mare Davide, University of Edinburgh
Portfolio Selection with Mental Accounts. An Alternative ApproachCombining Loss Aversion and Hyperbolic DiscountingMartelli Duccio, Burchi Alberto, Ghisellini FabrizioPresenter: Burchi Alberto, University of PerugiaDiscussant: Zochowski Dawid, European Central Bank
Reputational Risk Management in Banking: the PostCrisis PerspectiveMiklaszewska Ewa, Kil KrzysztofPresenter: Miklaszewska Ewa, Cracow University of EconomicsDiscussant: Carboni Marika, University of Rome Tor Vergata
Session: D5
Chairperson: Guedes Jose, Catholic University of PortugalLocation: Room 20
Bank Regulation in a Complex EnvironmentNielsen Carsten, Weinrich GerdPresenter: Weinrich Gerd, Catholic University of the Sacred Heart, MilanDiscussant: Mukherjee Abhik, Lausanne Polytechnic Federal School
Market Reactions to the Implementation of Banking Union in EuropePancotto Livia, ap Gwilym Owain , Williams JonathanPresenter: Pancotto Livia, Bangor UniversityDiscussant: Raviv Alon, BarIlan University
Rules and Discretion(s) in Prudential Regulation and Supervision:Evidence from EU Banks in the RunUp to the CrisisMaddaloni Angela, Scopelliti Alessandro DiegoPresenter: Maddaloni Angela, European Central BankDiscussant: Guedes Jose, Catholic University of Portugal
Impact of Bank Capital Regulation on LendingMukherjee Abhik, Wunderli DanPresenter: Mukherjee Abhik, Lausanne Polytechnic Federal SchoolDiscussant: Nabilou Hossein, University of Luxembourg
Session: D6
Chairperson: Tirelli Mario, University of Rome IIILocation: Room 21
Equity Premium and Monetary Policy in a Model with Limited AssetMarket ParticipationKaszab LorantPresenter: Kaszab Lorant, Central Bank of HungaryDiscussant: Tirelli Mario, University of Rome III
The Political Economy of Reforms in Central Bank Design: Evidencefrom a New DatasetRomelli Davide
Presenter: Romelli Davide, University of DublinDiscussant: Tapia Matias, Central Bank of Chile and The Pontifical CatholicUniversity of Chile
A Public Broadcasting Service: Information Revelation through CentralBank Securities Lending OperationsBulusu NarayanPresenter: Bulusu Narayan, Bank of CanadaDiscussant: Weber Christoph, FriedrichAlexander University ErlangenNürnberg
Drivers of Global Liquidity and Global Bank Flows: a View from theEuro AreaEverett MaryPresenter: Everett Mary , Central Bank of IrelandDiscussant: Horvath Balint, University of Bristol
Ceo Duality, Agency Costs, and Internal Capital AllocationsIsabella Karasamani, Aktas Nihat, Andreou Panayiotis C., Philip DennisPresenter: Isabella Karasamani, Cyprus University of Technology andDurham UniversityDiscussant: Shaban Mais, University of Essex
Investor Relations and Ipo PerformanceHasan Iftekhar, Chahine Salim, Colak Gonul, Mazboudi MohamadPresenter: Mazboudi Mohamad , American University of BeirutDiscussant: Stentella Lopes Saverio, Bangor University
Do Creditor Control Rights Impact Corporate Tax Avoidance? Evidencefrom Debt Covenant ViolationsFrancis Bill, Shena Yinjie (Victor) , Wu QiangPresenter: Francis Bill, Rensselaer Polytechnic InstituteDiscussant: Molyneux Philip, Bangor University
Session: E2
Chairperson: Clark Ephraim, Middlesex UniversityLocation: Room 17
Capital Controls and the Cost of DebtAndreasen Eugenia , Valenzuela Patricio , Schindler MartinPresenter: Andreasen Eugenia , University of SantiagoDiscussant: Fattobene Lucrezia, University of Rome Tor Vergata
Politically Motivated Corporate Decisions: Evidence from ChinaFeldman David, Li Jiaming, Saxena KonarkPresenter: Feldman David, UNSW AustraliaDiscussant: Scaramozzino Pasquale, SOAS University of London
Dividend Decisions of UK Firms: Beyond Agency TheoryGrosman Anna, Driver Ciaran, Scaramozzino PasqualePresenter: Scaramozzino Pasquale, SOAS University of LondonDiscussant: Falconieri Sonia, City, University of London
Financial Development and Reallocation of Capital in Business Groupduring the Global Financial CrisisYamada Kazuo, Shikimi MasayoPresenter: Yamada Kazuo, Nagasaki UniversityDiscussant: He Guanming, University of Warwick
Some Borrowers are More Equal than Others: Bank Funding Shocksand Credit ReallocationDe Jonghe Olivier, Dewachter Hans, Mulier Klaas, Ongena Steven, SchepensGlennPresenter: De Jonghe Olivier, Tilburg UniversityDiscussant: Papanikolaou Nikolaos, University of Sussex
Bank Value and Geographic Diversification: Regional vs GlobalYildirim Canan, Efthyvoulou GeorgiosPresenter: Yildirim Canan, Kadir Has UniversityDiscussant: Brighi Paola, University of Bologna
Bank Size and Financial CrossBorder LinkagesBarba Navaretti Giorgio, Calzolari Giacomo, Pozzolo Alberto Franco,Trentinaglia De Daverio Maria TeresaPresenter: Pozzolo Alberto Franco, Molise UniversityDiscussant: Cole Rebel, Florida Atlantic University
Corporate culture and enforcement actions in bankingFiordelisi FrancoPresenter: Fiordelisi Franco, University of Rome IIIDiscussant: Derrien Francois, HEC Paris
Household Savings and Trust in the Financial SystemBeckmann Elisabeth , Mare DavidePresenter: Mare Davide, University of EdinburghDiscussant: Schaeck Klaus, Lancaster University
Productivity Shocks and Uncertainty Shocks in a Model withEndogenous Firms Exit and Inefficient BanksRossi LorenzaPresenter: Rossi Lorenza, University of PaviaDiscussant: Cesarone Francesco, University of Rome III
Disaster Risk and Preference Shifts in a New Keynesian ModelIsoré Marlène, Szczerbowicz UrszulaPresenter: Isoré Marlène, University of Helsinki and Bank of FinlandDiscussant: Mirza Afrasiab, University of Birmingham
Session: E5
Chairperson: Maddaloni Angela, European Central BankLocation: Room 20
Relative Performance Banker Compensation and Systemic RiskAlbuquerque Rui, Guedes Jose, Cabral LuisPresenter: Guedes Jose, Catholic University of PortugalDiscussant: Maddaloni Angela, European Central Bank
How Do Firms Weather Increasing Legal Risk: Some New EvidenceOliviero Tommaso, Park Min, Zou Joe HongPresenter: Oliviero Tommaso, University of Naples Federico IIDiscussant: Romelli Davide, University of Dublin
Bank Risk Dynamics where Assets are Risky Debt ClaimsPeleg Sharon, Raviv AlonPresenter: Raviv Alon, BarIlan UniversityDiscussant: Weinrich Gerd, Catholic University of the Sacred Heart, Milan
Session: E6
Chairperson: Gobbi Giorgio, Bank of ItalyLocation: Room 21
Investor Protection and Corporate ControlTapia MatiasPresenter: Tapia Matias, Central Bank of Chile and The Pontifical CatholicUniversity of ChileDiscussant: Bulusu Narayan, Bank of Canada
The Response of Asset Prices to Monetary Policy Shocks: StrongerThan ThoughtAlessi Lucia, Kerssenfischer MarkPresenter: Alessi Lucia, European Commission Joint Research CentreDiscussant: Oliveira Vitor, Bank of Portugal and University of Lisbon
The Unemployment Effect of Central Bank TransparencyWeber ChristophPresenter: Weber Christoph, FriedrichAlexander University ErlangenNürnbergDiscussant: Everett Mary , Central Bank of Ireland
What Determines the International Transmission of Monetary Policythrough the Syndicated Loan Market?Horvath Balint, Huizinga Harry, DemirgucKunt AsliPresenter: Horvath Balint, University of BristolDiscussant: Kaszab Lorant, Central Bank of Hungary
13:15 14:15
14:15 15.00
Professor of Finance, New York University, Stern School of Business, U.S.
15:00 16:30 Session: F1
Chairperson: Vitale Paolo, G. d'Annunzio UniversityLocation: Room 16
When Bubble Meets Bubble: Contagion in Oecd CountriesGomezGonzalez Jose, GamboaArbelaez Juliana, HirsGarzón Jorge,PinchaoRosero AndrésPresenter: GomezGonzalez Jose, Central Bank of Colombia
Discussant: Di Tommaso Caterina, University of Calabria
Robust Trading for AmbiguityAverse InsidersVitale PaoloPresenter: Vitale Paolo, G. d'Annunzio UniversityDiscussant: Burchi Alberto, University of Perugia
When Options Market DisagreesGoyenko Ruslan , Fournier Mathieu , Grass GunnarPresenter: Goyenko Ruslan , McGill UniversityDiscussant: Pelster Matthias, Leuphana University
Session: F2
Location: Room 17
How Does the Eurozone Crisis Affect Securities Portfolios?Kick Thomas, Onali Enrico, Ruprecht Benedikt, Schaeck KlausPresenter: Schaeck Klaus, Lancaster UniversityDiscussant: Rossi Lorenza, University of Pavia
Improving the Risk Parity Approach to Portfolio SelectionCesarone Francesco, Tardella FabioPresenter: Cesarone Francesco, University of Rome IIIDiscussant: Isoré Marlène, University of Helsinki and Bank of Finland
Session: F3
Chairperson: Roggi Oliviero, University of FlorenceLocation: Room 18
Does Primary Sovereignty Risk Matter for Bank Fragility? Evidencefrom Albanian Banking SystemShijaku GertiPresenter: Shijaku Gerti, Bank of AlbaniaDiscussant: Giannozzi Alessandro, Link Campus University
Do Macroprudential Policy Instruments Affect the Link BetweenLending and Capital Ratio? – A Cross Country EvidenceOlszak Małgorzata, Roszkowska Sylwia, Kowalska IwonaPresenter: Olszak Małgorzata, University of WarsawDiscussant: Ozhan Galip Kemal, University of St Andrews
Fire Sale Bank RecapitalizationsMariathasan Mike, Bertsch ChristophPresenter: Mariathasan Mike, KU LeuvenDiscussant: Fosu Samuel, University of Birmingham
Session: F4
Chairperson: Bonfim Diana, Bank of PortugalLocation: Room 19
Determinants of Bank’s Interest Margin in the Aftermath of the Crisis:the Effect of Interest Rates and the Yield Curve SlopeCruzGarcía Paula, Fernández de Guevara Juan, Maudos JoaquínPresenter: CruzGarcía Paula, University of ValenciaDiscussant: Floreani Josanco, University of Udine
The Strategic Use of Market Power in BankingStentella Lopes Saverio, Pelliccia Marco
Presenter: Stentella Lopes Saverio, Bangor UniversityDiscussant: Bonfim Diana, Bank of Portugal
The Market Implied Probability of Government Intervention inDistressed BanksNeuberg Richard, Glasserman Paul, Kay Benjamin, Rajan SriramPresenter: Rajan Sriram, United States Department of the TreasuryDiscussant: Sist Federica, LUMSA University
Session: F5
Chairperson: Francis Bill, Rensselaer Polytechnic InstituteLocation: Room 20
Fragmentation, Expost Uncertainty and Ipo UnderpricingFalconieri Sonia, Bennouri Moez , Weaver DanielPresenter: Falconieri Sonia, City, University of LondonDiscussant: Francis Bill, Rensselaer Polytechnic Institute
The Determinants of Bank Capital Structure: a European StudyShaban MaisPresenter: Shaban Mais, University of EssexDiscussant: Vasileva Kristina, University of Westminster
Do Corporate Managers Herd? Evidence from CrossBorder M&AVasileva Kristina, Faelten Anna, Chan Ka KeiPresenter: Vasileva Kristina, University of WestminsterDiscussant: Clark Ephraim, Middlesex University
Session: F6
Chairperson: Hasan Iftekhar, Fordham UniversityLocation: Room 21
Systemic Risk in Financial Markets: How Systemically Important areInsurers?Klein Christian, Kaserer ChristophPresenter: Klein Christian, Technical University of MunichDiscussant: Murtinu Samuele, University of Groningen
What’s the Value of a Tbtf guaranty? Evidence from the Gsiidesignation for insurance companiesRiddick Leigh , Dewenter KathrynPresenter: Riddick Leigh , American UniversityDiscussant: Nieri Laura, University of Genoa
Systemic Risk in Clearing Houses: Evidence from the European RepoMarketDerrien Francois, Boissel Charles, Örs Evren, Thesmar DavidPresenter: Derrien Francois, HEC ParisDiscussant: Hasan Iftekhar, Fordham University
Session: F7
Chairperson: Di Giorgio Giorgio, LUISS UniversityLocation: 22
Measuring the Ecb’s Monetary Policy Stance: a "MediaBasedAutomated Approach"
The Other Side of the Rules: an Alternative Way to Look at the 2014Comprehensive AssessmentOrlandi Jacopo, Raponi Jacopo, Zito GiuseppePresenter: Orlandi Jacopo, Bank of ItalyDiscussant: Ricci Ornella, University of Rome III
From the Rescue of Banks to the Single Resolution Mechanism:Institutional and Empirical AnalysisRotondi Zeno, Donato Luigi, Scognamiglio AlessabdroPresenter: Rotondi Zeno, UnicreditDiscussant: Curcio Domenico, Università degli Studi di Napoli "Federico II"
16:30 18:00 Session: G1
Chairperson: Ciciretti Rocco, University of Rome Tor VergataLocation: Room 16
Can Parents Protect Their Children? Risk Comparison Analysisbetween StandAlone Commercial Banks and Bank HoldingCompanies’ AffiliatesLy Kim Cuong, Liu Frank Hong, Opong KwakuPresenter: Ly Kim Cuong, University of GlasgowDiscussant: Ciciretti Rocco, University of Rome Tor Vergata
Endogenous Political ConnectionsCarboni Marika, Fiordelisi FrancoPresenter: Carboni Marika, University of Rome Tor VergataDiscussant: Ferri Giovanni, LUMSA University
Macroeconomic and BankSpecific Determinants of NonPerformingLoans in AlbaniaKola FatmiraPresenter: Kola Fatmira, University of Rome Tor VergataDiscussant: Bussoli Candida, LUM Jean Monnet University
Session: G2
Chairperson: Bertsch Christoph, Sveriges RiksbankLocation: Room 17
Subjective Interest Rate Uncertainty and the Macroeconomy: a CrossCountry AnalysisMouabbi Sarah, Klodiana IstrefiPresenter: Mouabbi Sarah, Bank of FranceDiscussant: Bertsch Christoph, Sveriges Riksbank
Regional Banking Instability and Fomc VotingEichler Stefan, Lähner Tom, Noth FelixPresenter: Lähner Tom, Leibniz University of HanoverDiscussant: Isabella Karasamani, Cyprus University of Technology andDurham University
Fed Liftoff and Subprime Loan Interest Rates: Evidence from the PeertoPeer Lending MarketBertsch Christoph, Hull Isaiah, Zhang XinPresenter: Bertsch Christoph, Sveriges RiksbankDiscussant: Oliviero Tommaso, University of Naples Federico II
Financial Intermediation, Resource Allocation, and MacroeconomicInterdependenceOzhan Galip KemalPresenter: Ozhan Galip Kemal, University of St AndrewsDiscussant: Cerqueti Roy, University of Macerata
On the Efficiency of BankAffiliated Venture CapitalMurtinu Samuele, Cumming Douglas J.Presenter: Murtinu Samuele, University of Groningen
Banks' Risk Appetite in Residential Mortgage and CrossSellingPolicies: Evidence from the Euro AreaFilotto Umberto, Giannotti Claudio, Mattarocci Gianluca, Scimone XeniaPresenter: Scimone Xenia, University of Rome Tor VergataDiscussant: Pisani Raoul, University of Trento
Session: G4
Chairperson: Previati Daniele Angelo, University of Rome IIILocation: Room 19
Drive the Transition from Traditional to Direct Banking: an EmpiricalStudyFilotto Umberto, Caratelli Massimo, Fornezza FabrizioPresenter: Caratelli Massimo, University of Rome IIIDiscussant: Battaglia Francesca Battaglia, University of Naples "Parthenope" Dipartimento di Studi Aziendali e Quantitativi
The Market Reaction to the Antitrust Investigation in the PaymentSystem SectorBattaglia Francesca Battaglia, Leonelli Lucia, Ricci OrnellaPresenter: Battaglia Francesca Battaglia, University of Naples "Parthenope" Dipartimento di Studi Aziendali e QuantitativiDiscussant: Caiazza Stefano, University of Rome Tor Vergata
The Existence of Securities Bubbles and the Relative Banking ContextSist Federica, Centoni MarcoPresenter: Sist Federica, LUMSA UniversityDiscussant: Shijaku Gerti, Bank of Albania
Session: G5
Chairperson: Olszak Małgorzata, University of WarsawLocation: Room 20
“Sorry, We're Closed" Loan Conditions when Due to Branch ClosureFirms Transfer to another BankBonfim Diana, Nogueira Gil, Ongena StevenPresenter: Bonfim Diana, Bank of PortugalDiscussant: CruzGarcía Paula, University of Valencia
Bank Opacity, Competition and RiskTaking: Evidence from Analysts'ForecastsFosu Samuel, Ntim Collins G., Coffie William, Murinde VictorPresenter: Fosu Samuel, University of BirminghamDiscussant: Olszak Małgorzata, University of Warsaw
The Relative Predictive Strength of Different Lending TechnologiesBrighi Paola, Lucarelli Caterina, Venturelli ValeriaPresenter: Brighi Paola, University of BolognaDiscussant: Neuberg Richard, Columbia University
Session: G6
Chairperson: Riddick Leigh , American UniversityLocation: Room 21
Financial Companies' Failures: Early Warning Information fromSystematic and Systemic Risk MeasuresGiannozzi Alessandro, Roggi Oliviero, Cipollini Fabrizio, Menchetti FiammettaPresenter: Giannozzi Alessandro, Link Campus UniversityDiscussant: Riddick Leigh , American University
The Stock Market Reaction to Macroeconomic Forces: the Case ofFinancial and nonFinancial SectorsGalloppo Giuseppe, Previati Daniele Angelo, Fiordelisi FrancoPresenter: Galloppo Giuseppe, Tuscia UniversityDiscussant: Mariathasan Mike, KU Leuven
Credit Risk in European Banks: Does Effective Risk ManagementMatter?Cucinelli Doriana , Di Battista Maria Luisa , Marchese Malvina , Nieri LauraPresenter: Nieri Laura, University of GenoaDiscussant: Stentella Lopes Saverio, Bangor University
18:00 18:30
Best papers awards will be announced during the farewell drink
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