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EUROPEAN SUMMER SYMPOSIUM IN FINANCIAL MARKETS
Generously hosted by Study Center Gerzensee
Monday 15 July - Friday 26 July 2013
The following papers will be presented at this conference. Please see the Programme for further details.
ESSFM papers
Corporate finance week
Why is hedge fund activism procyclical
*Mike Burkhart (Stockholm School of Economics and CEPR) and Amil Dasgupta (London School of Economics and CEPR)
Debt Relief and Debtor Outcomes: Measuring Effects of Consumer Bankruptcy Protection
*Will Dobbie (Princeton University) and Jae Song (Social Security Administration)
The Disciplinary Effects of Proxy Contests
*Vyacheslav Fos (University of Illinois)
Do Firms engage in risk shifting? Empirical Evidence
*Erik Gilje (University of Pennsylvania)
Rising Intangible Capital, Shrinking Debt Capacity and the US Corporate Savings Glut
Antonio Falato (Federal Reserve Board), *Dalida Kadyrzhanova (University of Maryland) and Jae Sim (Federal Reserve Board)
Financing from Family and Friends
*Samuel Lee (NYU – Stern) and Petra Persson (Columbia University)
Outsourcing Corporate Governance: Conflicts of Interest and Competition in the Proxy Advisory Industry
*Tao Li (Columbia University)
Tropical Lending: International Prices, Credit Constraints and Strategic Default among Coffee Washing Stations
*Rocco Macchiavello (Warwick University and CEPR) and Arthur Blouin (Warwick University)
Blood and Money - Kin altruism, governance, and inheritance in the family firm
*Thomas Noe (University of Oxford)
Innovation Cycles
Jiro Kondo (McGill University) and *Dimitris Papanikolaou (Northwestern University)
The Information and Agency Effects of Scores: Randomized Evidence from Credit Committees
*Daniel Paravisini (London School of Economics and CEPR) and Antoinette Schoar (MIT Sloan School of Management and CEPR)
Swinging for the Fences: Executive Reactions to Quasi-Random Options Grants
*Kelly Shue (University of Chicago) and Richard Townsend (Dartmouth College)
Endogenous Financial Constraints, Taxes, and Leverage
Shaojin Li (Shanghai University of Economics and Finance) and *Toni Whited (University of Rochester)
Asset Pricing
Valuation Risk and Asset Pricing
*Rui Albuquerque (Boston University and CEPR), Martin Eichenbaum (Northwestern University) and Sergio Rebelo (Northwestern University and CEPR)
*Adrian Buss (INSEAD), Bernard Dumas (INSEAD and CEPR), Raman Uppal (Edhec Business School and CEPR) and Grigory Vilkov (Goethe University Frankfurt)
*Anna Cieslak (Kellogg School of Management, Northwestern University) and Pavol Povala (University of Lugano)
Wage Rigidity: A Quantitative Solution to Several Asset Pricing Puzzles
*Jack Favilukis (London School of Economics) and Xiaoji Lin (Ohio State University)
Asset Pricing in the Frequency Domain - Theory and Empirics
*Stefano W Giglio (University of Chicago) and Ian Dew-Becker (Federal Reserve Bank of San Francisco)
Monetary Policy and Long-Term Real Rates
*Sam Hanson (Harvard University) and Jeremy Stein (Harvard University)
Thierry Foucault (HEC Paris and CEPR), *Johan Hombert (HEC Paris) and Ioanid Rosu (HEC Paris)
Short-term Debt and Financial Crisis: What we can learn from U.S. Treasury Supply
*Arvind Krishnamurthy (Northwestern University) and Annette Vissing-Jorgensen (Northwestern University)
Asset Pricing with Entry and Imperfect Competition
*Erik Loualiche (Northwestern University)
*Semyon Malamud (Swiss Finance Institute) and Marzena Rostek, (University of Wisconsin-Madison)
Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion
Nicolae Garleanu (UC Berkeley Haas School of Business and CEPR), *Stavros Panageas (University of Chicago – Booth School of Business), and Jianfeng Yu (University of Minnesota)
Commodity Trade and the Carry Trade: A Tale of Two Countries
Nikolai Roussanov (The Wharton School, University of Pennsylvania), *Robert Ready (University of Rochester) and Colin Ward (The Wharton School, University of Pennyslvania)
Asset Pricing: A Tale of Two Days
*Pavel Savor (The Wharton School, University of Pennyslvania) and Mungo Wilson (Said Business School, University of Oxford)
Firm Characteristics and Empirical Factor Models: a Data-Mining Experiment
Leonid Kogan (MIT Sloan School of Management) and *Mary Tian (Federal Reserve Board)
What Ties Return Volatilities to Price Valuations and Fundamentals
Alexander David (University of Calgary) and *Pietro Veronesi (University of Chicago – Booth School of Business and CEPR)