ECFC 2026

Sunday 24 May

Discussant Session 1 (13:30–15:30)

Session Chair: Zhehao Jia, University of Edinburgh, UK

The (Under-)Disclosure of Environmental Innovation

• Leo Liu, University of Technology Sydney, Australia
• Elvira Sojli (attending), UNSW Sydney, Australia
• Wing Wah Tham, UNSW Sydney, Australia
• Cara Vansteenkiste, University of Sydney, Australia

Discussant: Emilia Garcia-Appendini, University of St Gallen, Switzerland

Financial Frictions and Pollution Abatement Over the Life Cycle

• Min Fang, University of Florida, USA
• Po-Hsuan Hsu, National Tsing Hua University, Taiwan
• Hui-Jun Chen, National Tsing Hua University, Taiwan
• Chi-Yang Tsou (attending), University of Manchester, UK

Discussant: Marco Grotteria, London Business School, UK

Green Waste: (Mis)allocation of Green Investment Subsidies

• Tom Meling (attending), The Ohio State University, USA
• Morten Grindaker, University of Chicago, USA
• Magne Mogstad, University of Chicago, USA
• Ingvil Gaarder, University of Chicago, USA

Discussant: Per Strömberg, Stockholm School of Economics, Sweden

Short Presentations Session 1 (16:00–17:00)

Session Chair: Mehdi Lehali, University of Manchester, UK

Shareholder Democracy and the Market for Voting Advice

• Odilon Camara (attending), University of Southern California, USA
• John Matsusaka, University of Southern California, USA
• Chong Shu, University of Utah, USA

When the Tax Break Breaks: CEO Pay and Turnover Following TCJA

• Ilona Babenko, Arizona State University, USA
• Ben Bennett, Texas Christian University, USA
• Dragana Cvijanovic (attending), Cornell University, USA

Financial Technologies, Labor Markets, and Wage Inequality: Evidence from Instant Payment Systems

• Jacelly Cespedes (attending), University of Minnesota, USA
• Carlos Burga, Pontificia Universidad Católica, Chile
• Bernardo Ricca, Insper, Brazil

Gala Dinner, with the support of Elsevier and the Journal of Financial Intermediation at The Scottish Café & Restaurant at the National Gallery (19:00-22:00)

Monday 25 May 2026

Session Chair: Lucy Liu, University of Edinburgh, UK (09:00–11:00)

Complex Organizations, Leverage and Interest Rates

• Giovanna Nicodano (attending), University of Turin, Italy
• Luca Regis, University of Turin, Italy

Discussant: Boris Nikolov, University of Lausanne, Switzerland

Collateral Law and Enforcement Risk: Evidence from Native American Reservations

• Leo Leitzinger (attending), Goethe University Frankfurt, Germany

Discussant: Geraldo Cerqueiro, Católica-Lisbon, Portugal

The Effect of Takeovers on Knowledge Worker Productivity

• Andras Danis, Central European University, Austria
• Evgeny Gushchin (attending), Central European University, Austria
• Beate Thies, University of Vienna, Austria

Discussant: Ernst Maug, University of Mannheim, Germany

Keynote Speech: (11:30–13:00)

Professor Manju Puri, J.B. Fuqua Professor in Finance, Duke University

Discussant Session 3 (14:00–16:00)

Session Chair: Murillo Campello, University of Florida, USA

Firm Dynamics and Growth with Soft Budget Constraints

• Philippe Aghion, College de France; London School of Economics, UK
• Antonin Bergeaud, HEC Paris, France
• Mathias Dewatripont, Université Libre de Bruxelles, Belgium
• Johannes Matt (attending), London School of Economics, UK

Discussant: Francesca Zucchi, European Central Bank

Communist Imprints and Corporate Behavior

• Philip Schnorpfeil (attending), Goethe University Frankfurt, Germany

Discussant: Ekaterina Volkova, University of Melbourne, Australia

Dinner Table Alphas

• Huaizhi Chen (attending), University of Texas at Dallas, USA
• Sean Cao, University of Maryland, USA
• Lauren Cohen, Harvard Business School, USA
• Hugo Zhao, University of Maryland, USA

Discussant: Spyridon Lagaras, University of Illinois Urbana-Champaign, USA

Short Presentations Session 2 (16:30–17:30)

Session Chair: Sylvia Zhang, University of Edinburgh, UK

The 52-Week High and Corporate Announcement Returns

• Paul Hark, University of Münster, Germany
• Nils Lohmeier (attending), University of Münster, Germany
• Pascal Büsing, University of Münster, Germany
• Hannes Mohrschladt, University of Potsdam, Germany

Impact Through Catalytic Finance

• Florian Hoffmann, KU Leuven, Belgium
• Vladimir Vladimirov (attending), University of Amsterdam, The Netherlands

The Strategic Regulatory Disclosure of Private Firms

• Kathleen Hanley (attending), Lehigh University, Pennsylvania, USA
• Qianqian Yu, Lehigh University, Pennsylvania, USA

Programme Committee