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+44(0)131 650 4603 ecfconference@ed.ac.uk 29 Buccleuch Place, Edinburgh, EH8 9JS, UK

2017 Conference Programme

Monday 29 May 2017

Registration & coffee

13:00 - 13:30

Registration & coffee

13:00 - 13:30

Session 1: Networks, groups, conglomerates

Session Chair: Tim Adam, Humboldt University, Germany

The effects of business group affiliation: Evidence from firms being “left alone”
  • Borja Larrain, Pontificia Universidad Católica de Chile, Santiago, Chile
  • Giorgio Sertsios, Universidad de las Andes, Santiago, Chile (presenting)
  • Francisco Urzua, Erasmus University, Rotterdam, The Netherlands

Discussant: Vladimir Atanasov, Raymond A. Mason School of Business, College of William and Mary, Williamsburg, USA

Analyst coverage network and corporate financial policies
  • Armando Gomes, Washington University in St. Louis, St. Louis, USA
  • Radhakrishnan Gopalan, Washington University in St. Louis, St. Louis, USA
  • Mark Leary, Washington University in St. Louis, St. Louis, USA
  • Francisco Marcet, University of Chile, Santiago, Chile (presenting)

Discussant: Markku Kaustia, Aalto University, Finland

Dissecting conglomerates
  • Oliver Boguth, Arizona State University, Tempe, USA
  • Ran Duchin, University of Washington, Seattle, USA
  • Mikhail Simutin, University of Toronto, Toronto, Canada (presenting)

Discussant: Christoph Schneider, Tilburg University, Netherlands

13:30 - 15:30

Session 1: Networks, groups, conglomerates

Session Chair: Tim Adam, Humboldt University, Germany

The effects of business group affiliation: Evidence from firms being “left alone”
  • Borja Larrain, Pontificia Universidad Católica de Chile, Santiago, Chile
  • Giorgio Sertsios, Universidad de las Andes, Santiago, Chile (presenting)
  • Francisco Urzua, Erasmus University, Rotterdam, The Netherlands

Discussant: Vladimir Atanasov, Raymond A. Mason School of Business, College of William and Mary, Williamsburg, USA

Analyst coverage network and corporate financial policies
  • Armando Gomes, Washington University in St. Louis, St. Louis, USA
  • Radhakrishnan Gopalan, Washington University in St. Louis, St. Louis, USA
  • Mark Leary, Washington University in St. Louis, St. Louis, USA
  • Francisco Marcet, University of Chile, Santiago, Chile (presenting)

Discussant: Markku Kaustia, Aalto University, Finland

Dissecting conglomerates
  • Oliver Boguth, Arizona State University, Tempe, USA
  • Ran Duchin, University of Washington, Seattle, USA
  • Mikhail Simutin, University of Toronto, Toronto, Canada (presenting)

Discussant: Christoph Schneider, Tilburg University, Netherlands

13:30 - 15:30

Break

15:30 - 16:00

Break

15:30 - 16:00

Session 2: Borrowing

Session Chair: Murillo Campello, Cornell University, USA

Levered returns and capital structure imbalances
  • Filippo Ippolito, University Pompeu Fabra, Spain
  • Roberto Steri, University of Lausanne, Switzerland (presenting)
  • Claudio Tebaldi, Bocconi University, Italy

Discussant: Minjoo Kim, University of Glasgow, UK

Credit ratings and market information
  • Alessio Piccolo, Oxford University, Oxford, UK (presenting)
  • Joel Shapiro, Oxford University, Oxford, UK

Discussant: Stefano Rossi, Bocconi University, Italy

Credit guarantees and credit constraints
  • William Mullins, University of Maryland, USA (presenting)
  • Patricio Toro, Central Bank of Chile, Santiago, Chile

Discussant: Seth Armitage, University of Edinburgh Business School, UK

16:00 - 18:00

Session 2: Borrowing

Session Chair: Murillo Campello, Cornell University, USA

Levered returns and capital structure imbalances
  • Filippo Ippolito, University Pompeu Fabra, Spain
  • Roberto Steri, University of Lausanne, Switzerland (presenting)
  • Claudio Tebaldi, Bocconi University, Italy

Discussant: Minjoo Kim, University of Glasgow, UK

Credit ratings and market information
  • Alessio Piccolo, Oxford University, Oxford, UK (presenting)
  • Joel Shapiro, Oxford University, Oxford, UK

Discussant: Stefano Rossi, Bocconi University, Italy

Credit guarantees and credit constraints
  • William Mullins, University of Maryland, USA (presenting)
  • Patricio Toro, Central Bank of Chile, Santiago, Chile

Discussant: Seth Armitage, University of Edinburgh Business School, UK

16:00 - 18:00

Gala Dinner: The Calton Suite, Hilton Edinburgh Carlton

19 North Bridge
Edinburgh
EH1 1SD

19:00 – 21:30

Gala Dinner: The Calton Suite, Hilton Edinburgh Carlton

19 North Bridge
Edinburgh
EH1 1SD

19:00 – 21:30

Tuesday 30 May 2017

Session 3: Lending

Session Chair: Vladimir Atanasov, College of William & Mary, USA

Information sharing and lender specialization: Evidence from the US commercial lending market
  • Jose Liberti, DePaul University & Northwestern University, Chicago, USA
  • Jason Sturgess, DePaul University, Chicago, USA (presenting)
  • Andrew Sutherland, MIT, Boston, USA

Discussant: Moqi Xu, London School of Economics, UK

Pipeline risk in leveraged loan syndication
  • Max Bruche, Cass Business School, London, UK (presenting)
  • Frederic Malherbe, London Business School, London, UK
  • Ralf Meisenzahl, Federal Reserve Board, Washington, USA

Discussant: Matthew Gustafson, Pennsylvania State University, USA

Bank lobbying as a financial safety net: Evidence from the post-crisis US banking sector
  • Kentaro Asai, Australian National University, Canberra, Australia (presenting)

Discussant: Alexei Ovtchinnikov, HEC Paris, France

09:00 – 11:00

Session 3: Lending

Session Chair: Vladimir Atanasov, College of William & Mary, USA

Information sharing and lender specialization: Evidence from the US commercial lending market
  • Jose Liberti, DePaul University & Northwestern University, Chicago, USA
  • Jason Sturgess, DePaul University, Chicago, USA (presenting)
  • Andrew Sutherland, MIT, Boston, USA

Discussant: Moqi Xu, London School of Economics, UK

Pipeline risk in leveraged loan syndication
  • Max Bruche, Cass Business School, London, UK (presenting)
  • Frederic Malherbe, London Business School, London, UK
  • Ralf Meisenzahl, Federal Reserve Board, Washington, USA

Discussant: Matthew Gustafson, Pennsylvania State University, USA

Bank lobbying as a financial safety net: Evidence from the post-crisis US banking sector
  • Kentaro Asai, Australian National University, Canberra, Australia (presenting)

Discussant: Alexei Ovtchinnikov, HEC Paris, France

09:00 – 11:00

Break

11:00 - 11:30

Break

11:00 - 11:30

Keynote speech

Laura Starks, University of Texas, USA

11:30 - 13:00

Keynote speech

Laura Starks, University of Texas, USA

11:30 - 13:00

Lunch served in the foyer of the Business School

13:00 - 14:00

Lunch served in the foyer of the Business School

13:00 - 14:00

Session 4: Corporate finance

Session Chair: Conrad Ciccotello, Georgia State University, USA

Short-termism spillovers from the financial industry
  • Andrew Bird, Carnegie Mellon University, Pittsburgh, USA
  • Aytekin Ertan, London Business School, London, UK (presenting)
  • Stephen Karolyi, Carnegie Mellon University, Pittsburgh, USA
  • Thomas Ruchti, Carnegie Mellon University, Pittsburgh, USA

Discussant: Tim Adam, Humboldt University, Germany

Kinky tax policy and abnormal investment behavior
  • Qiping Xu, University of Notre Dame, Notre Dame, USA (presenting)
  • Eric Zwick, University of Chicago, Chicago, USA

Discussant: Michael Smolyansky, Board of Governors of the Federal Reserve System, USA

How costly is forced gender-balancing of corporate boards?
  • B. Espen Eckbo, Dartmouth College, Hanover, USA
  • Knut Nygaard, Oslo Business School, Oslo, Norway
  • Karin S. Thorburn, Norwegian School of Economics, Bergen, Norway

Discussant: Angelica Gonzalez, University of Edinburgh Business School, UK

14:00 – 16:00

Session 4: Corporate finance

Session Chair: Conrad Ciccotello, Georgia State University, USA

Short-termism spillovers from the financial industry
  • Andrew Bird, Carnegie Mellon University, Pittsburgh, USA
  • Aytekin Ertan, London Business School, London, UK (presenting)
  • Stephen Karolyi, Carnegie Mellon University, Pittsburgh, USA
  • Thomas Ruchti, Carnegie Mellon University, Pittsburgh, USA

Discussant: Tim Adam, Humboldt University, Germany

Kinky tax policy and abnormal investment behavior
  • Qiping Xu, University of Notre Dame, Notre Dame, USA (presenting)
  • Eric Zwick, University of Chicago, Chicago, USA

Discussant: Michael Smolyansky, Board of Governors of the Federal Reserve System, USA

How costly is forced gender-balancing of corporate boards?
  • B. Espen Eckbo, Dartmouth College, Hanover, USA
  • Knut Nygaard, Oslo Business School, Oslo, Norway
  • Karin S. Thorburn, Norwegian School of Economics, Bergen, Norway

Discussant: Angelica Gonzalez, University of Edinburgh Business School, UK

14:00 – 16:00

The programme is subject to change.