The workshop will take place over two days on Thursday 20th and Friday 21st April 2023 and will be hosted by Saïd Business School, University of Oxford, Park End Street, Oxford, OX1 1HP. There will be a conference dinner on Thursday 20th April. At this time, we are planning for an in-person conference (with no online option unless the Covid situation changes drastically).

As in previous years, papers will be presented in two parallel streams, one labeled Asset Pricing (AP) and the other Corporate Finance (CF). There will also be one joint session with papers that are of interest to researchers in both Asset Pricing and Corporate Finance.

The full programme will be uploaded shortly. The following papers will be presented:

Asset pricing:

  • J.H. van Binsbergen, S. Bryzgalova, M. Muckhopadhyay, V. Sharma, (Almost) 200 years of news-based economics sentiment
  • M. Dahlquist, C. Heyerdahl-Larsen, A. Pavlova, J. Penasse, International capital markets and wealth transfers
  • J. Bena, A. Fisher, J. Knesl, J. Vahl, Pricing technological innovators: patent intensity and life-cycle dynamics
  • V. Elenev, T. Landvoigt, The equity premium with undiversified investors and financial frictions
  • D. Berger, K. Milbradt, F. Tourre, J. Vavra, Refinancing frictions, mortgage pricing and redistribution
  • S. Kogan, I. Makarov, M. Niessner, A. Schoar, Are cryptos different? Evidence from retail trading
  • Z. Jiang, H. Liu, C. Peng, H. Yan, Investor memory and biased beliefs
  • Y. Li, S. Sokolinski, A. Tamoni, Which investors drive anomaly returns and how?
  • H. Jiang, D. Vayanos, L. Zheng, Passive investing and the rise of mega-firms

Corporate finance:

  • P. Bond, D. Levit, ESG: A panacea for market power?
  • E. Pikulina, D. Ferreira, Subtle discrimination
  • M. V. Hampole, Financial frictions and human capital investments
  • A. Hubert de Fraisse, The term structure of interest rates and the duration of corporate investments
  • M. Jansen, F. Nagel, C. Yannelis, A. L. Zhang, Data and welfare in credit markets
  • S. Fiorin, J. Hall, M. Kanz, How do borrowers respond to a debt moratorium? Experimental evidence from consumer loans in India
  • D. Levit, N. Malenko, E. Maug, The voting premium
  • G. Barone, F. Schivardi, E. Sette, Interlocking directorates and competition in banking
  • M. Schmalz, J. Xie, Do corporations maximize their own value?

Registration deadline

  • The registration deadline is Tuesday 28 February 2023 (midnight GMT). Please note that space is limited and registration is on a first-come basis.
  • There is limited funding available for presenters and discussants for travel and accommodation costs.
  • Attendees may take advantage of a limited amount of discounted accommodation at the Courtyard Marriot hotel in Oxford. A link will be issued upon registration.
  • Please confirm attendance at the conference dinner when registering. 

Programme Committees:

Asset Pricing:

Co-chairs: Pedro Bordalo (Oxford SBS), Hugues Langlois (HEC Paris), Raman Uppal (EDHEC and CEPR) and Irina Zviadadze (HEC Paris and CEPR).

Members: Harjoat Bhamra (Imperial College and CEPR), Svetlana Bryzgalova (LBS and CEPR), Adrian Buss (INSEAD, Frankfurt School of Finance & Management, and CEPR), Laurent Calvet (EDHEC and CEPR), Christian Julliard (LSE), Marcin Kacperczyk (Imperial College and CEPR), Howard Kung (LBS and CEPR), and Dong Lou (LSE and CEPR).

Corporate Finance:

Co-chairs: Johan Hombert (HEC Paris and CEPR), and Martin Schmalz (Oxford SBS and CEPR).

Members: Claire Célérier (University of Toronto and CEPR), Claudia Custodio (Imperial College and CEPR), Mariassunta Giannetti (SSE and CEPR), Xavier Giroud (Columbia and CEPR), Juanita Gonzalez-Uribe (LSE and CEPR), Dirk Jenter (LSE and CEPR), Peter Koudijs (Erasmus and CEPR), Augustin Landier (HEC Paris), Steven Ongena (University of Zurich, SFI and CEPR), Marco Pagano (Federico II and CEPR), Jörg Rocholl (ESMT and CEPR), David Thesmar (MIT and CEPR), Victoria Vanasco (CREI and CEPR).

Local Committee:

Seung Joo Lee (Oxford SBS), Jiri Knesl (Oxford SBS), Mungo Wilson (Oxford SBS).

The Adam Smith Workshop is a regular event organized jointly by the Centre for Economic Policy Research (CEPR), EDHEC Business School, HEC Paris, Imperial College Business School, INSEAD, London Business School, London School of Economics and Political Science, and Saïd Business School (University of Oxford).