Past Years FRS
Summer Term 2018
|March 09||Lauren Cohen||Harvard Business School|
|March 16||Paul Whelan||Copenhagen Business School|
|March 23||Evgeny Lyandres||Boston University,|
Questrom School of Business
|April 04||Ruediger Fahlenbrach||EPFL|
|April 13||Renee Adams||The University of New South Wales|
|April 20||Toni Whited||University of Michigan,|
Ross School of Business
|May 04||Svetlana Bryzgalova||Stanford University|
|May 11||Francesca Cornelli||London Business School|
|May 18||Christian Opp||Wharton Business School|
|May 25||Eduardo Schwartz||UCLA|
|June 08||Burton Hollifield||CMU Tepper School of Business|
|June 15||Kathy Yuan||London School of Economics|
|June 22||Andrew Ellul||Indiana University, Kelley School of Business|
|June 27||Itay Goldstein||Wharton Business School|
|June 29||Martin Öhmke||London School of Economics|
Winter Term 2017
- Alexander Stomper (Berlin's Humboldt University), "The stability of dividends and wages: effects of competitor inflexibility"
- Charles Calomiris (Columbia Business School), "Capital Inflows, Equity Issuance Activity, and Corporate Investment"
- Luke Taylor (Wharton Business School), "Portfolio Liquidity and Diversification: Theory and Evidence"
- David Lando (Copenhagen Business School), "Generalized Recovery"
- Anjan Thakor (Olin Business School), "Intermediation Variety"
- Florian Heider (European Central Bank), "Optimal Margins and Equilibrium Prices"
- Alberto Manconi (Bocconi University), "Credit, Labor, and Political Unrest: Evidence from 1930s China"
- Jean-Pierre Zigrand (London School of Economics), "Systemic Risk and the Dynamics of Temporary Financial Networks"
- Jean-Edouard Colliard (HEC, Paris), "Financial Restructuring and Resolution of Banks"
Summer term 2017
- Jonathan Berk (Stanford University, Graduate School of Business) "Mutual Funds in Equilibrium"
- Emanuel Mönch (Deutsche Bundesbank) "Reach for Yield in Investment Funds"
- Bo Becker (Stockholm School of Economics) "Convenant-light Contracts and Creditor Coordination"
- Christian Leuz (Chicago Booth) "An Information-Theoretic Asset Pricing Model"
- Christian Julliard (London School of Economics)
- Zhiguo He (Chicago Booth) "Leverage Dynamics without Commitment"
- Ron Kaniel (University of Rochester) "Relative Pay for Non-Relative Performance Keeping up with the Joneses with Optimal Contracts"
- Vincent Glode (Wharton Business School) "Voluntary Disclosure in Bilateral Transactions"
- Alexander Gümbel (Toulouse School of Economics) "A Welfare Analysis of Segmented Liquidity Markets"
- Tobias Berg (Frankfurt School of Finance and Management ) "Brexit and the Contraction of Syndicated Lending"
- Steven Ongena (University of Zurich) "Changes in the Cost of Bank Equity and the Supply of Bank Credit"
- Patrick Bolton (Columbia University) "The End of the “Modern Corporation”: Deregulation and Ownership of Electric Utilities"
- Adriano Rampini (Duke University) "Financing Durable Assets"
- Paola Sapienza (Northwestern University, Kellog School of Management)
Winter Term 2016
- Florian Ederer (Yale School of Management), "Common Ownership, Competition, and Top Management Incentives"
- Anton Korinek (John Hopkins University), "Financial Innovation for Rent Extraction"
- Andrew Winton (Carlson School of Management, Minnesota), "Lender Moral Hazard and Reputation in Originate-to-Distribute Markets"
- Giorgia Piacentino (Washington University)
- Laura Starks (University of Texas, Austin), "Economic Policy Uncertainty, Learning and Incentives: Theory and Evidence on Mutual Funds"
- Li He (WU), "Payroll and Financial Leverage"
- Vasso Ioannidou (Lancaster University), "Do Central Banks Face a Positive-Profit Constraint?"
- Espen Henriksen (BI Norwegian Business School), "The Risky Capital of Emerging Markets"
- Oliver Boguth (Arizona State University), "The Fragility of Organization Capital"
- Tarek Hassan (Chicago Booth), "Currency Maipulation"
- Filippo Ippolito (Pompeu Fabra University), "Levered Returns and Capital Structure Imbalances"
- Quxian Zhang (Erasmus University Rotterdam), "Why Do Distressed Firms Acquire?"
Summer Term 2016
- Sunil Wahal (Arizona State University), "The Demand for Diversification in Incomplete Markets"
- Josef Zechner (WU), "Debt Maturity and the Dynamics of Leverage"
- Sudipto Dasgupta (Lancaster University), "Social Connections, and the Boundary of the Firm"
- Doron Levit (Wharton), "Governing Multiple Firms"
- Rainer Haselmann (Goethe, Frankfurt), "Rent-Seeking in Elite Networks"
- Marco Pagano (University of Naples), "Corporate Leverage and Employees’ Rights in Bankruptcy"
- Mungo Wilson (Said Business School, Oxford), "One Central Bank to Rule Them All"
- Yuri Tserlukevich (Arizona State University), "Is Market Timing Good for Shareholders?"
- Ilona Babenko (Arizona State University), "Information Acquisition and Corporate Debt Illiquidity"
- Tarun Chordia (Emory University), "Do High Frequency Traders Need to be Regulated? Evidence from Trading on Macroeconomic Announcements"
- Norman Schürhoff (University of Lausanne), "Relationship Trading in OTC Markets"
- Clemens Sialm (University of Texas, Austin), "Government Debt and Capital Structure Decisions: International Evidence"
- Sheridan Titman (University of Texas), "Creative Destruction, Investor Beliefs and the Evolution of Stock Returns"
- Erwan Morellec (EPFL), "Rollover Traps"
Winter Term 2015
- Ajay Subramanian (Georgia State University), "Ownership Structure, Incentives and Asset Prices"
- Hanno Lustig (Stanford University), "Does Market Incompleteness Help to Explain Exchange Rates?"
- Mikhail Chernov (UCLA), "Term structures of asset prices and returns"
- Guillaume Vuillemey (HEC), "Derivatives and interest rate risk management by commercial banks"
- Rick Sias (The University of Arizona), "Who are the Sentiment Traders? Evidence from the Cross-Section of Stock Returns and Demand"
- Robert Bushman (University of North Carolina), "The Informational Role of the Media in Private Lending"
- Paul Schultz (University of Notre Dame), "Liquidity in a Market for Unique Assets Specified Pool and TBA Trading in the Mortgage Backed Securities Market"
- Nobuhiro Kiyotaki (Princeton University), "Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises"
- Alex Edmans (London Business School), "Financing Through Asset Sales"
- Ludovic Phalippou (Oxford University)
- Maria Chaderina (WU), "Hedging News with Cash and Debt"
- Frederico Belo (University of Minnesota), "External Equity Financing Shocks, Financial Flows, and Asset Prices"
- Ernst-Ludwig von Thadden (University of Mannheim), "A Corporate Governance Asset Pricing Model: Theory and Evidence"
Summer Term 2015
- Karin S. Thorburn (Norwegian School of Economics), "Are stock-financed takeovers opportunistic?"
- Christian Wagner (Copenhagen Business School), "Does central bank tone move asset prices?"
- Nicola Gennaioli (Bocconi University), "Stereotypes"
- Kent Smetters (University of Pennsylvania Wharton), "A Sharper Ratio: A General Measure for Correctly Ranking Non-Normal Investment Risks"
- Nicolas Petrosky-Nadeau (Carnegie Mellon University), "Endogenous Crises and Asset Prices"
- Christopher Hennessy (London Business School), "Natural Experiment Policy Evaluation: A Critique"
- Andrey Malenko (MIT Sloan School of Management), "Timing Decisions in Organizations: Communication and Authority in a Dynamic Environment"
- Nikolaus Hautsch (University of Vienna), "The Hidden Side of the Market: Order Exposure and Liquidity Coordination"
- Rick Green (Carnegie Mellon University), "Advance Refundings of Municipal Bonds"
- Antoinette Schoar (MIT Sloan School of Management), "Changes in Buyer Composition and the Expansion of Credit during the Boom"
- Ivan Shaliastovich (University of Pennsylvania Wharton), "Monetary Policy Risks in the Bond Markets and Macroeconomy"
- Nikolai Roussanov (University of Pennsylvania Wharton), "Fracking, Drilling, and Asset Pricing: Estimating the Economic Benefits of the Shale Revolution"
- Gyöngyi Loranth (University of Vienna), "Bank Payout Policy, Performance, and Insider Trading in the Financial Crisis of 2007-2009"
Winter term 2014
- Mike Burkart (Stockholm School of Economics), "Activist Funds, Leverage, and Procyclicality"
- Torben Andersen (Northwestern University), "Parametric Inference and Dynamic State Recovery from Option Panels" and "The Risk Premia Embedded in Index Options"
- Lars-Alexander Kühn (Carnegie Mellon University), "A Labor Capital Asset Pricing Model"
- Michael Weber (University of Chicago), "Nominal Rigidities and Asset Pricing"
- Pete Kyle (University of Maryland), "Smooth Trading with Overconfidence and Market Power"
- Howard Kung (London Business School), "Government Maturity Structure Twists"
- Thomas Gehrig (University of Vienna), "Loan Sales and Screening Incentives"
- Jin Yu (University of New South Wales), "A Theory of Family Ownership"
- Sumit Agarwal (National University of Singapore), "Age of Decision: Pension Savings Withdrawal and Consumption and Debt Response"
- Chester Spatt (Carnegie Mellon University), "A solution to the Palm–3Com spinoff puzzles"
- Robert Dittmar (University of Michigan), "Firm Characteristics, Consumption Risk, and Firm-Level Risk Exposures"
- Robert Kosowski (Imperial College London), "The Effect of regulatory constraints on fund performance New evidence from UCITS hedge funds"
- Stephan Siegel (University of Washington), "The Cultural Origin of Preferences: CEO Cultural Heritage and Corporate Investment"
Summer term 2014
- Peter Bossaerts (California Institute of Technology), "'Lucas' In The Laboratory"
- David Scharfstein (Harvard Business School), "Dollar Funding and the Lending Behavior of Global Banks"
- Alexander Ljungqvist (NYU Stern School of Business), "How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation"
- Günter Strobl (Frankfurt School of Finance & Management), "Credit Ratings: Strategic Issuer Disclosure and Optimal Screening"
- Toni Whited (University of Rochester, Simon Graduate School of Business), "Collateral, Taxes, and Leverage"
- Ralph Koijen (London Business School), "Shadow Insurance"
- Adlai Fisher (University of British Columbia, Sauder School of Business), "Horizon Effects in Average Returns: The Role of Heterogeneous Information Diffusion"
- Ruediger Fahlenbrach (Swiss Finance Institute, Ecole Polytechnique Fédérale de Lausanne), "Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities"
- Pierre-Olivier Weill (UCLA), "The Market for OTC Derivatives"
- Zacharias Sautner (Frankfurt School of Finance & Management), "The Effect of Managerial Short-Termism on Corporate Investment"
- Igor Makarov (London School of Economis), "Arbitrage Trading with Marking-to-market and Price Impact"
- Richard Lowery (University of Texas at Austin, McCombs School of Business), "The costs of closing failed banks: A structural estimation of regulatory incentives"
- Malcolm Baker (Harvard Business School), "Do strict capital requirements raise the cost of capital? Banking regulation and the low risk anomaly"
- Peter Feldhütter (London Business School), "The Credit Spread Puzzle - Myth or Reality"
- Florian Heider (European Central Bank), "As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes"
- Holger Kraft (Frankfurt University Goethe Business School), "Consumption and Wage Humps in Lifecycle Models"
Winter Term 2013
- Rossen Valkanov (UC San Diego Rady School of Management), "Advantages and Disadvantages of Securitization: Evidence from Commercial Mortgages"
- Peter Kondor (Central European University), "Trading and Information Diffusion in Over-the-Counter Markets"
- Lubos Pastor (University of Chicago - Booth School of Business), "Scale and skill in active management"
- Wolf Wagner (Tilburg School of Economics and Management), "The Disturbing Interaction between Countercyclical Capital Requirements and Systemic Risk"
- Andrea Caggese (Universitat Pompeu Fabra), "Constraints, Firm Dynamics and Innovation"
- Maria Cecilia Bustamante (London School of Economics), "Product Market Competition and Industry Returns"
- Doron Avramov (The Hebrew University of Jerusalem), "Time-Varying Momentum Payoffs and Illiquidity"
- Michael Halling (Stockholm School of Economics), "Violations of the Law of One Fee in the Mutual Fund Industry"
- Bart Lambrecht (University of Cambridge), "The Dynamics of Investment, Payout and Debt"
- Carolin Pflueger (UBC Sauder School of Business), "Monetary Policy Drivers of Bond and Equity Risks"
- Konstantin Milbradt (MIT Sloan School of Management), "Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle"
- Paul Schneider (University of Lugano), "Generalized Risk Premia - The Economic Value of Predictability"
- Loriana Pelizzon (SAFE - Goethe University Frankfurt), "Sovereign Credit Risk, Liquidity and ECB Intervention: Deus Ex Machina?"
- James Dow (London Business School), "Financial Contracting, Limited Liability and Bubbles"
Summer Term 2013
- Eric Hughson (Claremont McKenna College), "The Effect of Centralized Clearing on Market Liquidity: Lessons from the NYSE"
- Franklin Allen (The Wharton School - University of Pennsylvania), "Deposits and Bank Capital Structure"
- Lasse Pedersen (Copenhagen Business School), "Embedded Leverage"
- Philip Dybvig (Olin School of Business at Washington University in Saint Louis), "High Hopes and Disappointment"
- Olivia Mitchell (The Wharton School - University of Pennsylvania), "Optimal Financial Knowledge and Wealth Inequality"
- Vicente Cunat (London School of Economics), "Say Pays! Shareholder Voice and Firm Performance"
- Kai Li (Sauder School of Business - University of British Columbia), "Investor Myopia and CEO Turnover:Evidence from Private Firms"
- Xavier Giroud (MIT Sloan School of Management), "Capital and Labor Reallocation Inside Firms"
- Joel Shapiro (Oxford University), "A Mechanism for LIBOR"
- Martin Oehmke (Columbia Business School, New York), "Synthetic or Real? The Equilibrium Effect of Credit Default Swaps on Bond Markets"
- Raman Uppal (EDHEC Business School, London), "Comparing Different Regulatory Measures to Control Stock Market Volatility"
- Robert DeYoung (Kansas University), "Economies of Scale and the Economic Role of Banks"
- Damir Filipovic (Swiss Finance Institute – EPFL), "Risk-Based Solvency Regulation and Scenario Aggregation"
- Vikrant Vig (London Business School), "Cultural Proximity and Loan Outcomes"
- Ed van Wesep (University of North Carolina), "The Quality of Expertise"
- Martin Hellwig (Max Planck Institute for Research on Collective Goods), "Debt Overhang and Bank Capital Regulation"
- Douglas Diamond (Booth School of Business - University of Chicago), "A Theory of Debt Maturity: The Long and Short of Debt Overhang"
Winter Term 2012
- Suleyman Basak (London Business School), "Asset Prices and Institutional Investors"
- Stefan Nagel (Stanford Graduate School of Business), "Sizing Up Repo"
- Peter DeMarzo (Stanford Graduate School of Business), "Risking Other People's Money: Gambling, Limited Liability, and Optimal Incentives"
- Klaus Ritzberger (Institute for Advanced Studies, Vienna), "Order-Driven Markets are Almost Competitive"
- Brigitte Madrian (Harvard Kennedy School), "Does Aggregated Returns Disclosure Increase Portfolio Risk-Taking?"
- Michael Haliassos (Goethe University Frankfurt), "Debt and Social Interactions"
- Ester Faia (Goethe University Frankfurt), "Endogenous Banks' Networks, Cascades and Systemic Risk"
- Jean Helwege (Moore School of Business (University of South Carolina)), "Crises, Liquidity Shocks, and Fire Sales at Commercial Banks"
- Joshua Rauh (Stanford Graduate School of Business), "Linking Benefits to Investment Performance in US Public Pension Systems"
- Florian Ederer (UCLA Anderson School of Management), "Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment"
- Raffi Amit (The Wharton School (University of Pennsylvania)), "Corporate Divestitures and Family Control"
- Terrance Odean (Haas School of Business (University of California at Berkeley)), "Bubbling with Excitement: An Experiment"
- Giovanna Nicodano (University of Torino), "Intercorporate guarantees, leverage and taxes"
Summer Term 2012
- Richard Roll (University of California, Los Angeles), "How Stable Are Corporate Capital Structures?"
- Engelbert Dockner (WU (Vienna University of Economics and Business)), "Interaction Between Dynamic Financing and Growth Options: The Impact of Industry Structures"
- Bill Zame (University of California, Los Angeles), "Asset Pricing and Asymmetric Reasoning"
- Semyon Malamud (École Polytechnique Fédérale de Lausanne), "Information Percolation in Segmented Markets"
- Christopher Hennessy (London Business School), "Skin in the Game and Moral Hazard"
- David Easley (Cornell University), "Flow Toxicity and Liquidity in a High Frequency World"
- Simone Manganelli (ECB Frankfurt), "VAR for VaR: Measuring Systemic Risk Using Multivariate Regression Quantiles"
- Mark Kamstra (York University), "The Annuity Duration Puzzle"
- Ingrid Werner (Ohio State University), "Diving into Dark Pools"
- Michael Kisser (Norwegian School of Economics), "Capital Structure Choice - Who Finances Externally?"
- Rüdiger Frey (WU (Vienna University of Economics and Business)), "Dynamics of Corporate Security Prices in Firm Value Models with Incomplete Information"
- David Thesmar (HEC Paris), "Categorization Bias in the Stock Market"
- Linda Tesar (University of Michigan), "Fire Sale FDI or Business As Usual?"
- Leonid Kogan (Massachusetts Institute of Technology), "A Theory of Firm Characteristics and Stock Returns: The Role of Investment-Specific Shocks"
- Luigi Guiso (Einaudi Institute for Economics and Finance Roma), "Time Varying Risk Aversion"
- Youchang Wu (University of Wisconsin-Madison), "Mutual fund family and performance evaluation"
Winter Term 2011
- Volker Laux (University of Texas), "Stock Option Vesting Conditions, CEO Turnover, and Myopic Investment"
- Adlai Fisher (University of British Columbia, Vancouver), "Dividend Strips and the Term Structure of Equity Risk Premia: A Case Study of Limits to Arbitrage"
- Ernst Maug (University of Mannheim), "Indexing Executive Compensation Contracts"
- Mao Ye (University of Illinois), "What’s Not There: The Odd-Lot Bias in TAQ Data"
- Augustin Landier (University of Toulouse), "The Risk-Shifting Hypothesis: Evidence from Subprime Originations"
- Albert Menkveld (Vrije Universteit Amsterdam), "Middlemen in Limit-Order Markets"
- Guillaume Plantin (University of Toulouse), "Inequality, Tax Avoidance, and Financial Instability"
- Adam Szeidl (UC Berkeley), "A Model of Focusing in Economic Choice"
- Bjorn Eraker (Wisconsin), "Dynamic Present Values and the Intertemporal CAPM"
- Pierre Mella-Barral (EDHEC Nice), "Entrepreneurial Spawning and Firm Characteristics"
- Jan Bena (UBC), "The Lifecycle of the Economy-Wide Distribution of Leverage"
- Daniel Paravisini (Columbia University), "Cultural Proximity and Loan Outcomes"
- Jeffrey Brown (University of Illinois), "Why I Lost My Secretary: The Effect of Endowment Shocks on University Operations"
- Josef Zechner (WU), "Granularity of Corporate Debt: Theory and Tests"
- Mariassunta Giannetti (Stockholm School of Economics), "The Brain Gain of Corporate Boards: A Natural Experiment from China"
- Christian Schlag (University of Frankfurt), "The Role of Volatility Shocks and Rare Events in Long-Run Risk Models"
Summer Term 2011
- Ulrich Hege (HEC Paris), "How does Private Equity Bid in Corporate Asset Sales? The paper is not available online."
- Christa Bouwman (Case Western Reserve University, Cleveland), "The Geography of Executive Compensation"
- Josef Zechner (WU Vienna University of Economics and Business), "Leverage Dynamics over the Business Cycle"
- Elena Carletti (European University Institute), "Asset Commonality, Debt Maturity and Systematic Risk"
- Thierry Foucault (HEC Paris), "Dealer Attention, Liquidity Spillovers, and Endogenous Market Segmentation"
- Charlotte Ostergaard (Norwegian School of Management), "Real and Financial Tradeoffs in Non-Listed Firms: Cash Flow Sensitivities and How They Change with Shocks to Firms' Main-Bank"
- Harald Hau (INSEAD), "The Role of Equity Funds in the Financial Crisis Propagation
- Eric Ghysels (University of North Carolina), "Conditional Skewness of Stock Market Returns in Developed and Emerging Markets and its Economic Fundamentals"
- Francisco Gomes (London Business School), "Quantifying the Distortionary Fiscal Cost of ‘The Bailout’"
- Charles Jones (Columbia University), "Two Short Tales"
- Mark Grinblatt (University of California, Los Angeles), "IQ and Stock Market Trading"
- Robert Marquez (Boston University), "Leaving Money on the Table: A Theory of Private Equity Fund Returns"
- Amit Goyal (Université de Lausanne), "Buyers Versus Sellers: Who Initiates Trades And When?"
- Sönje Reiche (University of Cambridge), "Robust Incentives and Non-Exclusive Contracts"
- Dirk Hackbarth (University of Illinois), "Innovation, Capital Structure, and the Boundaries of the Firm"
- Pegaret Pichler (Northeastern University), "The Design of Mortgage-Backed Securities and Servicer Contracts"
Winter Term 2010
- Seppo Ikäheimo (Helsiniki School of Economics)
- Christian Leuz (University of Chicago)
- Robert Korajczyk (Northwestern University)
- Albert Kyle (University of Maryland)
- Tim Adam (Humboldt-Universität zu Berlin)
- Heitor Almeida (University of Illinois)
- Jean-Pierre Zigrand (London School of Economics)
- Rui Albuquerque (Boston University)
- Igor Makarov (London Business School)
- Christine Parlour (University of California Berkeley)
- Daniel Ferreira (London School of Economics)
- Alex Stomper (Institute for Advanced Studies, VGSF)
- Joel Peress (INSEAD)
- Rüdiger Fahlenbrach (Ecole Polytechnique Fédérale de Lausanne)
Summer Term 2010
- Ron Giammarino (University of British Columbia)
- Michael Brandt (Duke University)
- Clemens Sialm (University of Texas at Austin)
- Oliver Fabel (University of Vienna)
- Denis Gromb (INSEAD)
- Christian Julliard (London School of Economics)
- Neil A. Doherty (University of Pennsylvania)
- Jean Charles Rochet (University Toulouse 1)
- Dirk Hackbarth (University of Illinois)
- Pierre Collin-Dufresne (Columbia University)
- Christian Gollier (University Toulouse 1)
- Laura Starks (University of Texas at Austin)
- Pietro Veronesi (University of Chicago)
- Robert Hauswald (American University)
- Allaudeen Hameed (National University of Singapore)
- Hanno Lustig (University of California, Los Angeles)
Winter Term 2009
- Xunyu Zhou (University of Oxford)
- Ulrich Horst (Humboldt-Universität zu Berlin)
- Lubos Pastor (University of Chicago)
- Raman Uppal (London Business School)
- Oren Sussman (University of Oxford)
- Roman Inderst (Goethe Universität Frankfurt am Main)
- Markus Leippold (Universität Zürich)
- André Gygax (University of Melbourne)
- Alexander Mürmann (Vienna University of Economics and Business)
- Robert Hauswald (American University)
- Philipp Illeditsch (University of Pennsylvania)
- Anat Admati (Stanford University)
- Ilya Strebulaev (Stanford University)
- Colin Mayer (University of Oxford)
- Philipp Schnabl (New York University)
- Gordon Phillips (University of Maryland)
Summer Term 2009
- Andrew Yim (Tilburg University), "Cost of Capital, Hurdle Rate, and Default Risk: A Robust Model of Internal Capital Markets"
- Wolfgang Bühler (Universität Mannheim), "Risk-Adjusted Performance Measurement of Bond Portfolios"
- Piet Sercu (Katholieke Universiteit Leuven), "Estimating the Intertemporal Substitution Elasticity"
- Effi Benmelech (Harvard University), "Vintage Capital and Creditor Protection"
- Toni Whited (University of Wisconsin), "Capital Structure Dynamics and Transitory Debt"
- Jacob Sagi (Vanderbilt University), "Dynamic Corporate Capital Stocks: Cross-sectional and Inter-temporal Stock Return Patterns"
- Josef Zechner (Wirtschaftsuniversität Wien), "Liquidity and Feasible Debt Relief"
- Ehud I. Ronn (University of Texas at Austin), "The Valuation and Informational Content of Options on Crude-Oil Futures Contracts"
- Jiang Wang (Massachusetts Institute of Technology), "Liquidity of Corporate Bonds"
- Stijn van Nieuwerburgh (New York University), "The Cross-Section and Time-Series of Stock and Bond Returns"
- Laura Veldkamp (New York University), "Attention Allocation Over the Business Cycle: Evidence from the Mutual Fund Industry"
Winter Term 2008
- Christian Leuz (University of Chicago, Graduate School of Business), "Voluntary Disclosure and the Cost of Capital: Evidence from Firms' Responses to the Enron Shock"
- Russ Wermers (University of Maryland, Robert H. Smith School of Business), "False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas"
- Karl Schmedders (Northwestern University, Kellogg School of Management), "Bond Ladders and Optimal Portfolios"
- Kristian R. Miltersen (Norwegian School of Economics and Business Administration), "Risky Corporate Debt with Finite Maturity"
- Paolo Sodini (Stockholm School of Economics), "Fight or Flight? Portfolio Rebalancing by Individual Investors"
- Fabio Maccheroni (Università Bocconi), "Risk Measures: Rationality and Diversification"
- Lucio Sarno (University of Warwick, Warwick Business School), "The Forward Volatility Bias: A New Puzzle in Foreign Exchange"
- Eduardo Schwartz (UCLA, Anderson School of Management), "Options Trading Activity and Firm Valuation"
- Christopher Hennessy (University of California Berkeley, Haas School of Business), "Security Design, Liquidity, and the Informational Role of Prices"
- Stephen Shore (Johns Hopkins University), "Changes in the Distribution of Income Volatility"
- Hansjörg Albrecher (Johannes Kepler University Linz); "Tax and Dividend Payments in Collective Risk Theory"
- Wayne R. Landsman (University of North Carolina at Chapel Hill, Kenan-Flagler Business School), "Do Investors Understand Really Dirty Surplus?"
- Gustavo Manso (MIT, Sloan School of Management), "Performance-Sensitive Debt"
- David Musto (University of Pennsylvania, Wharton), "High Water Marks in Competitive Capital Markets"
- Engelbert Dockner (Vienna University of Economics and Business Administration), "Choice of Rating Technology and Price Formation in Imperfect Credit Markets"
- Jaksa Cvitanic (California Institute of Technology), "Optimal contracts in continuous time"
- Christopher Hennessy (UC Berkeley), "Debt, bargaining, and credibility in firm-supplier relationships"
- Toni Whited (University of Wisconsin-Madison), "What gives? A Study of Firms' Reactions to Cash Shortfalls"
- Tomas Björk (Stockholm School of Economics), "Time Inconsistent Stochastic Control"
- Antoon Pelsser (University of Amsterdam), "Approximate Solutions for Indifference Pricing under General Utility Functions"
- Ilan Cooper (Tel Aviv University), "Real Investment and Risk Dynamics"
- Harjoat Bhamra (University of British Columbia), "The Levered Equity Risk Premium and Credit Spreads: A Unified Framework"
- Wei Xiong (Princeton University), "Delegated Asset Management and Market Segmentation"
- Terrance Odean (Haas School of Business, Berkeley), "Day Trading in Equilibrium"
- Raffi Amit (Wharton School), "Familiy Control of Firms and Industries"
- Jonathan Berk (UC Berkeley), "Return persistance and fund flows in the worst performing mutual funds"
- Tim Adam (National University of Singapore), "Strategic Risk Management and Product Market Competition"
- Neng Wang (Columbia University), "Dynamic Agency and the q Theory of Investment"
- Alexander Muermann (Vienna University of Economics and Business Administration), "Financing Risk Transfer under Governance Problems: Mutual versus Stock Insurers"
- Vito D. Gala (London Business School), "Irreversible Investment and the Cross-Section of Stock Returns in General Equilibrium"
- Ralf Elsas (Munich School of Management, Ludwig-Maximilians-Universität), "The Impact of Default Risk on Equity Returns: Evidence from a Bank-based Financial System"
Winter Term 2007
- Adlai Fisher (University of British Colombia), "Conditional Risk, Overconditioning, and the Performance of Momentum Strategies"
- Gordon Phillips (University of Maryland), "Real and Financial Industry Booms and Busts"
- Felix Meschke (University of Minnesota), "The Rise and Fall of Portfolio Pumping Among U.S. Mutual Funds"
- Andrea Eisfeldt (Northwestern University), "Financing Shortfalls and the Value of Aggregate Liquidity"
- Eckhard Platen (University of Technology Sydney), "A Benchmark Approach to Finance"
- Damir Filipovic (Vienna Institute of Finance), "Non-Monotone Risk Measures and Monotone Hulls"
- Jason Huafeng Chen (University of British Columbia), "Return Comovement"
- Loriana Pelizzon (Università Ca'Foscari di Venezia), "Credit Derivatives, Capital Requirements and Opaque OTC Markets"
- Vikram Nanda (Arizona State University), "Are Incentive Contracts Rigged by Powerful CEOs?"
- Kristian Miltersen (Norwegian School of Economics and Business Administration), "Real Options with Uncertain Maturity and Competition"
- Sheridan Titman (University of Texas at Austin), "Financial Structure, Liquidity, and Firm Locations"
- Michael Brandt (Duke University), "Gutmann Public Lecture: What Do Government Bond Investors Care About: Credit Quality or Liquidity?"
- Alexander Wagner (University of Zurich), "The Executive Turnover Risk Premium"
- Jeffrey Zwiebel (Stanford University), "Executive Pay, Hidden Compensation, and Managerial Entrenchment"
- Rohit Rahi (London School of Economics), "Arbitrage Networks"
- Susan Christoffersen (McGill University), "Fund Flows vs. Family Flows: Evidence from the Cross Section of Brokers"
Summer Term 2007
- Matti Keloharju (Helsinki School of Economics), "Sensation Seeking, Overconfidence, and Trading Activity"
- Laurent E. Calvet (HEC Paris), "Down or Out: Assessing the Welfare Costs of Household Investment Mistakes"
- Christopher Hennessy (UC Berkeley), "A Dynamic Theory of Corporate Finance Based Upon Repeated Signaling"
- Massimo Massa (INSEAD), "Cosmetic Mergers: The Effect of Style Investing on the Market for Corporate Control"
- Lu Zhang (University of Michigan), "Regularities"
- Michael Roberts (Wharton), "Control Rights and Capital Structure: An Empirical Investigation"
- Toni Whited (University of Wisconsin), "The Corporate Propensity to Save"
- Günter Strobl (University of North Carolina), "Time-Varying Information Asymmetry and the Disposition Effect"
- Richard Stanton (University of Berkeley), "Optimal Exercise of Executive Stock Options and Implications for Firm Cost"
- David Hirshleifer (UC Irvine), "Stock Market Misvaluation and Corporate Investment"
- Siew Hong Teoh (UC Irvine), "Driven to Distraction: Extraneous Events and Underreaction to Earnings News"
Winter Term 2006
- Peter Swan (UNSW), "Optimal portfolio balancing under conventional preferences and transaction costs explains the equity premium puzzle"
- Ashley Wang (UC Irvine), "Asset Pricing and Mispricing"
- Xavier Freixas (Pompeu Fabra), "How can emerging market economies benefit from a corporate bond market?"
- Marcin Kacperczyk (University of British Columbia), "Labor Unions, Operating Leverage, and Expected Stock Returns"
- Will Goetzman (Yale), "Risk Aversion and Clientele Effects"
- Dirk Hackbarth (Washington University in St. Louis), "Corporate Bond Credit Spreads and Forecast Dispersion"
- Erik Theissen (University of Bonn), "Short sale constraints, divergence of opinion and asset values: Evidence from the laboratory"
- Nicole Branger (University of Münster), "Rational Laymen versus Over-Confident Experts: Who Survives in the Long Run?"
- Youchang Wu (University of Vienna), "Intermediated Investment Management"
- Peter Bossaerts (California Institute of Technology), "Equilibration under Competition in Smalls: Theory and Experimental Evidence"
- Denis Gromb (London Business School), "Financially Constrained Arbitrage and the Cross-section of Market Liquidity"
- Leopold Sögner (Vienna University of Technology), "Jumps and Recovery Rates Inferred from Corporate CDS Premia"
- Pedro Santa-Clara (UCLA), "Parametric Portfolio Policies: Exploiting characteristics in the cross section of equity returns"
Summer Term 2006
- Vasant Naik (Lehman Brothers), "Global Savings-Investment Imbalances: A Look through the Life-Cycle Model"
- Michael Halling (University of Vienna), "Equity Return Prediction: Are Coefficients Time-Varying?"
- Doyne Farmer (Santa Fe Institute), "Financial Markets as a Behavioral Laboratory: An Empirical Behavioral Model for Price Formation"
- Klaus Ritzberger (Institute for Advanced Studies Vienna), "Corporate Control and the Stock Market"
- Erwan Morellec (HEC Lausanne), "Stock Returns in Mergers and Acquisitions"
- Liam Brunt (HEC Lausanne), "Do Banks Generate Financial Market Integration?"
- Pierre Mella-Barral (HEC Paris), "Which way to Grow? Merging, Allying, or Buying Assets"
- Dimitri Vayanos (London School of Economics), "A Search-Based Theory of the On-the-Run Phenomenon"
- Andrei Simonov (Stockholm School of Economics), "Shareholder Homogeneity and Firm Value: The Disciplining Role of Non-Controlling Shareholders"
- Lorenzo Garlappi (University of Texas (Austin), "Default Risk, Shareholder Advantage, and StockReturns"
- Wolfgang Bühler (Universität Mannheim), "Credit Risk, Liquidity Risk, and OptimalCapital Structure under Incomplete Accounting Information"
- Josef Zechner (University of Vienna), "Human Capital, Bankruptcy, and Capital Structure"
- David Feldman (University of New South Wales), "The CAPM Relation for Inefficient Portfolios"
- Martijn Cremers (Yale), "Active and Passive Positions by Mutual Funds"
- Kai Li (University of British Columbia), "Corporate Boards and the Leverage and Debt Maturity Choices"
- Philipp Schönbucher (ETH Zürich), "Portfolio Losses and the Term Structure of Loss Transition Rates: A new methodology for the pricing of portfolio credit derivatives"
- Branko Urosevic (University of Belgrade; Universitat Pompeu Fabra, Barcelona), "Ownership Dynamics with Multiple Insiders: The case of REITs"
- Li Jin (Harvard), "Managerial Career Concern and Mutual Fund Short-termism"
Winter Term 2005
- Bing Liang (University of Massachusetts), "Do Market Timing Hedge Funds Time the Market?"
- Per Strömberg (SIFR), "What are Firms? Evolution from Birth to Public Companies"
- Nicolae Garleanu (University of Pennsylvania), "Demand-Based Option Pricing"
- Alexander Stomper (University of Vienna), "How Leverage affects Pricing: Theory and Evidence"
- Alois Geyer (Vienna University of Economics and Business Administration), "Life-Cycle Asset Allocation"
- Espen Eckbo (Dartmouth College), "The Toehold Puzzle"
- Charlotte Ostergaard (Norwegian School of Management), "U.S. Banking Deregulation, Small Businesses, and Interstate Insurance of Personal Income"
- Hans Degryse (CentER-Tilburg University), "SMEs and Bank Lending Relationships: The Impact of Mergers"
- Ed Nosal (Federal Reserve Bank of Cleveland), "Moral Hazard and the Design of Bank Liabilities"
- Burcin Yurtoglu (University of Vienna), "The Effects of Ownership Concentration and Identity on Investment Performance: An International Comparison"
- Ilya Strebulaev (Stanford University), "Firm Size and Capital Structure"
- Engelbert Dockner (University of Vienna), "Leaders, Followers, and Risk Dynamics in Industry Equilibrium"
- Lubos Pastor (University of Chicago), "Technological Revolutions and Stock Prices"
Past Seminars CCEFM & QF
Summer Term 2005
- Christine Parlour
- Doron Avramov
- Thomas Steinberger
- Jun Liu
- Suleyman Basak
- Youchang Wu
- Viral Acharya
- Alfred Lehar
- Suresh Sundaresan
- Hayne Leland
- Klaus Ritzberger
- Roman Inderst
- Martin Ruckes
Winter Term 2004
- Russ Wermers
- Eugene Kandel
- Raman Uppal
- Yihong Xia
- Rick Green
- Ernst Maug
- Andrew Ellul
- Youchang Wu
- Josef Zechner
- Christian Pierdzioch
- Florian Heider
- Bernard Dumas
Summer Term 2004
- Leo Kaas
- William Sharpe
- Ulf von Lilienfeld
- Duane Seppi
- Jos van Bommel
- Leonid Kogan
- Martin Dierker
- Stefan Reichelstein
- Josef Zechner
Summer Term 2003
- Martin Weber
- Evelyn Hayden
- David Lando
- Alex Stomper
Winter Term 2003
- Andrei Shleifer
- Michael Brennan
- Gilles Chemla
- Jin-Chuan Duan
- Chester Spatt
- Alex Stomper
- Josef Zechner
- Stephen Ross
Winter Term 2002
- Russ Wermers
- Bryan Routledge
- Alan Morrison
Summer Term 2002
- Stephen Ross
- Neal Stoughton
- Utpal Bhattacharya
- Martin Scheicher
- Wolfgang Bühler
- Suresh Sundaresan
Winter Term 2001
- Otto Randl
- Alex Stomper
- Elroy Dimson
- Gerhard Stahl
- Maurice Levi
- Pegaret Pichler
- Duane Seppi
- Avi Wohl
Summer Term 2001
- Yishay Yafeh
- Ernst Ludwig von Thadden
Winter Term 2000
- Thomas Dangl
- Marek Musiela
- Javier Suarez
- Raman Uppal
- Christian Laux
Summer Term 2000
- Tomas Bjoerk
- Klaus Gugler
- Ulrich Hege
- Philip Schoenbucher
- Kjell Nyborg
- Paolo Fulghieri
- David Lando
- Gerald Garvey
- Enrico Perotti
- David Bates
Winter Term 1999
- Ravi Jagannathan
- Wayne Ferson
- Zsuzsanna Fluck
- Martin Hellwig
- Alex Stomper
- Alexander Ljungqvist
- Krisitan Miltersen
- Stavros Zenios
- Alfred Wagenhofer
- Hans Moritsch