Conférences
Conférences
SESSION I-1 : MICROSTRUCTURE 1 (19/12/2005 à 09h30)
J.F. GAJEWSKI (IRG - University of Paris 12 Val-de-Marne)
Liquidity Formation and Preopening Periods in Financial Markets
Auteurs : DIA M. (World Bank ) and POUGET S. (University of Toulouse – CRG)
Intervenants : Sébastien POUGET
Commentateurs : A. CELLIER (University of Paris 12 Val-de-Marne)
Inside Volume and Liquidity
Auteurs : KRISHNAMURTHY A. (Northwestern University) and SADKA R. (University of Washington)
Intervenants : Ronnie SADKA
Commentateurs : S. POUGET (University of Toulouse-CRG)
The Economic and Statistical Value of the Predictive Ability of Overnight Information
Auteurs : TSIAKAS I. (Warwick Business School)
Intervenants : Ilias TSIAKAS
Commentateurs : S. MOINAS (ESC Toulouse)
SESSION I-2 : BANKING (19/12/2005 à 09h30)
R. GILLET (University of Paris 1 Panthéon-Sorbonne)
Credit Risk Management in Banks : Hard Information, Soft Information and Manipulation
Auteurs : GODBILLON-CAMUS B. (Robert Schuman University of Strasbourg) and GODLEWSKI C. J. (Robert Schuman University of Strasbourg)
Intervenants : Christophe GODLEWSKI
Commentateurs : S. VAN DEN HEUVEL (University of Pennsylvania)
The welfare cost of bank capital requirements
Auteurs : VAN DEN HEUVEL S. (University of Pennsylvania)
Intervenants : Skander VAN DEN HEUVEL
Commentateurs : C. GODLEWSKI (Robert Schuman University)
SESSION II-1 : IPOS (19/12/2005 à 11h30)
P. SENTIS (University of Montpellier)
Why don’t IPO firms disclose a reservation price?
Auteurs : BRISLEY N. (University of Western Ontario) and BUSABA W. (University of Western Ontario)
Intervenants : Neil BRISLEY
Commentateurs : P. SENTIS (University of Montpellier 1)
The Initial Public Offerings of Listed Firms
Auteurs : DERRIEN F. (University of Toronto) and KECSKÉS A. (University of Toronto)
Intervenants : François DERRIEN
Commentateurs : N. BRISLEY (University of Western Ontario)
Who provides a certification effect? Evidence from IPO on the JASDAQ, MOTHER and HERCULES
Auteurs : ARIKAWA Y. (Waseda University) and IMAD’EDDINE G. (Université de Lille 2)
Intervenants : Gaël IMAD’EDDINE
Commentateurs : F. DERRIEN (University of Toronto)
SESSION II-2 : PORTFOLIO MANAGEMENT 1 (19/12/2005 à 11h30)
D. ISAKOV (University of Fribourg and FAME)
Do Families Matter in Institutional Money Management Industry - The Case of New Portfolio Openings
Auteurs : BERZINS J. (Indiana University)
Intervenants : Janis BERZINS
Optimal Portfolios when Volatility can Jump
Auteurs : BRANGER N. (Goethe University),SCHLAG C. (Goethe University) and SCHNEIDER E. (Goethe University)
Intervenants : Eva SCHNEIDER
The Performance of Investment Grade Corporate Bond - Funds: Evidence from the European Market
Auteurs : DIETZE L.H., ENTROP O. and WILKENS M.(Catholic University of Eichstaett-Ingolstadt)
Intervenants : Oliver ENTROP
Commentateurs : G. SAN FILIPPO (EUROFIDAI)
SESSION III-1 : INTERNATIONAL FINANCE (19/12/2005 à 14h30)
P. FONTAINE (EUROFIDAI)
Day-of-the-week in Returns and Conditional Volatility: A Fact or A Fiction? Evidence from Spot CAD/USD Foreign. Exchange Rates
Auteurs : RAHMAN A. (University of Ottawa) and SAADI S. (University of Ottawa)
Intervenants : Samir SAADI
Commentateurs : L. DE MOOR (KU Leuven)
Hedging Currency Risk: a Regret-Theoretic Approach
Auteurs : MICHENAUD S. (HEC Paris) and SOLNIK B. (HEC Paris)
Intervenants : Bruno SOLNIK
Commentateurs : P. MADIES (CERAG - University of Grenoble 2)
Country and Sector Effects in International Stock Returns Revisited
Auteurs : DE MOOR L. and SERCU P. (Catholic University of Leuven)
Intervenants : Lieven DE MOOR
Commentateurs : B. SOLNIK (HEC Paris)
SESSION III-2 : CORPORATE FINANCE 1 (19/12/2005 à 14h30)
P. ANDRE (University of Edinburgh)
Financial distress, lender passivity and project finance : the case of Eurotunnel
Auteurs : VILANOVA L. (University of Toulouse)
Intervenants : Laurent VILANOVA
Commentateurs : J.L. PEDRO-ALCALDE (European Central Bank)
A Market-Based Framework for Bankruptcy Prediction
Auteurs : PERLICH-REISZ C. (IBM T. J. Watson Research Center) and REISZ A. S. (Office of the Controller of the Currency)
Intervenants : Alexander S. REISZ
Commentateurs : D. DUPRE (CERAG - University of Grenoble 2)
The Impact of a Large Creditor and its Capital Structure on the Financial Distress of its Borrower
Auteurs : PEYDRÓ-ALCALDE J.L. (European Central Bank)
Intervenants : José Luis PEYDRÓ-ALCALDE
Commentateurs : T. FRANCK (Catholic University of Leuven)
SESSION IV-1 : CORPORATE FINANCE 2 (19/12/2005 à 16h30)
E. GINGLINGER (University of Paris Dauphine)
Ownership Structure and Board Characteristics as Determinants of CEO Turnover in French-Listed Companies
Auteurs : NGUYEN-DANG B. (HEC Paris)
Intervenants : Bang NGUYEN-DANG
Commentateurs : M. MEOLI (Bergamo University and Cass Business School)
‘Running in the Family’ - The Evolution of Ownership, Control, and Performance in German Family-owned Firms 1903-2003
Auteurs : EHRHARDT O. (Humboldt Uni. and Uni. of Witten/Herdecke), NOWAK E. (Uni. of Lugano) and WEBER F.M.(Uni. of Witten/Herdecke)
Intervenants : Eric NOWAK
Commentateurs : B. NGUYEN-DANG (HEC Paris)
When controlling shareholders “live like kings”: The case of Telecom Italia
Auteurs : MEOLI M. (Bergamo University and Cass Business School), PALEARI S. (Bergamo University) and URGA G. (Cass Business School)
Intervenants : Michele MEOLI
Commentateurs : G. CHEMLA (University Paris Dauphine)
SESSION IV-2 : FINANCIAL MARKETS 1 (19/12/2005 à 16h30)
A. DOFFOU (Sacred Heart University)
Optimal dynamic hedging in incomplete commodity futures markets
Auteurs : MELLIOS C. (University of Cergy-Pontoise) and SIX P. (University of Paris 1-Sorbonne)
Intervenants : Pierre SIX
Commentateurs : E. SCHNEIDER (Goethe University)
Stochastic Interest Rates and Short Maturity Options
Auteurs : DOFFOU A. (Sacred Heart University)
Intervenants : Ako DOFFOU
Commentateurs : P. SIX (University of Paris 1 - Sorbonne)
Demutualization, Outsider Ownership and Stock - Exchange Performance - Empirical Evidence
Auteurs : SERIFSOY B. (Goethe University)
Intervenants : Baris SERIFSOY
Commentateurs : A. DOFFOU (Sacred Heart University)
SESSION V-1 : CORPORATE FINANCE 3 (20/12/2005 à 09h30)
F. DERRIEN (University of Toronto)
Retail Financial Distress Prediction Using Credit Scoring Techniques
Auteurs : ANSELL J. (University of Edinburgh) and HU Y.C. (University of Edinburgh)
Intervenants : Yu-Chiang HU
Commentateurs : D. ISAKOV (University of Fribourg and FAME)
Non-Financial Stakeholder Relationship Costs as Determinant of Capital Structure: Evidence from First-Time Business Start-Ups
Auteurs : FRANCK T. (Catholic University of Leuven) and HUYGHEBAERT N. (Catholic University of Leuven)
Intervenants : Tom FRANCK
Commentateurs : B. SERIFSOY (Goethe University)
Repurchasing Shares on a Second Trading Line
Auteurs : CHUNG D.Y. (Simon Fraser University), ISAKOV D. (University of Fribourg and FAME) and PÉRIGNON C. (Simon Fraser Uni.)
Intervenants : Dušan ISAKOV
Commentateurs : Y.C. HU ( University of Edinburgh)
SESSION V-2 : PORTFOLIO MANAGEMENT 2 (20/12/2005 à 09h30)
P. CHOLLET (University of Aix-Marseille)
Time Diversification in Pension Savings
Auteurs : KARLSSON A. (Stockholm University)
Intervenants : Anders KARLSSON
Commentateurs : K. MAES (CES, Catholic University of Leuven and National Bank of Belgium)
Valuation and Risk Management of Demand Deposits: An Application to Belgian Savings Deposits
Auteurs : DEWACHTER H. (Catholic Univ. of Leuven), MAES K. (Catholic Univ. of Leuven) and LYRIO M. (Catholic Univ. of Leuven)
Intervenants : Konstantijn MAES
Commentateurs : O. ENTROP (Catholic University of Eichstaett-Ingolstadt)
SESSION VI-1 : MICROSTRUCTURE 2 (20/12/2005 à 11h30)
E. CHALLE (University of Paris Dauphine)
Decomposing volume for VWAP strategies
Auteurs : BIALKOWSKI J. (Auckland Univ. of Technology), DAROLLES S. (Société Générale A. M. ) and LE FOL G. (Univ. of Angers and CREST)
Intervenants : Gaëlle LE FOL
Commentateurs : Arzé KARAM (Université de Paris-Dauphine)
Competition for order flow and smart order routing systems
Auteurs : FOUCAULT T. (HEC Paris) and MENKVELD A. (Vrije Universiteit Amsterdam)
Intervenants : Thierry FOUCAULT
Commentateurs : I. TSIAKAS (Warwick Business School)
Measuring Private Information: A Rational Expectations Equilibrium Framework
Auteurs : JIMENEZ-GARCES S. (INPG, CERAG)
Intervenants : Sonia JIMENEZ-GARCES
Commentateurs : E. CHALLE (University of Paris Dauphine)
SESSION VI-2 : MERGERS AND ACQUISITIONS (20/12/2005 à 11h30)
U. HEGE (HEC Paris)
Why do managers make serial Acquisitions? An investigation of performance Predictability in serial acquisitions
Auteurs : CROCI E. (University of Lugano)
Intervenants : Ettore CROCI
Commentateurs : S. EL GHOUL (Laval University)
CEO turnover in the UK following recent domestic and cross-border deals
Auteurs : HAN J. (University of Edinburgh), CROOK J. (University of Edinburgh) and ANDRÉ P. (University of Edinburgh)
Intervenants : Paul ANDRÉ
Commentateurs : V. BESSIERE (University of Montpellier)
The bright and dark side of business groups: Evidence from mergers and acquisitions
Auteurs : FISCHER K. (Laval University) and EL GHOUL S. (Laval University)
Intervenants : Sadok EL GHOUL
Commentateurs : U. HEGE (HEC Paris)
SESSION VII-1 : CORPORATE FINANCE 4 (20/12/2005 à 14h30)
G. CHEMLA ( University of Paris Dauphine)
History versus geography: the role of college interaction on portfolio choice and stock market prices
Auteurs : MASSA M. (INSEAD and CEPR) and SIMONOV A. (Stockholm School of Economics)
Intervenants : Andrei SIMONOV
Commentateurs : P. CHOLLET (University of Aix-Marseille)
Professional Reputation, Cash and Transition to Entrepreneurial Activity
Auteurs : LOSS F. (CNAM) and RENUCCI A. (University of Paris-Dauphine)
Intervenants : Antoine RENUCCI
Commentateurs : L. VILANOVA (University of Toulouse)
Investment Reputation Index: family firms vs. nonfamily firms in the UK
Auteurs : MUKHERJEE S. (ICMA Centre, University of Reading) and PADGETT C. (ICMA Centre, University of Reading)
Intervenants : Suranjita MUKHERJEE
Commentateurs : J. BERZINS (Indiana University)
SESSION VII-2 : FINANCIAL MARKETS 2 (20/12/2005 à 14h30)
T. FOUCAULT (HEC Paris)
Capital Market Equilibrium: The Mean-Gini Approach
Auteurs : SHALIT H. (Ben-Gurion University of the Negev) and YITZHAKI S. (the Hebrew University)
Intervenants : Haim SHALIT
Commentateurs : S. JIMENEZ-GARCES (INPG, CERAG)
Are Bull and Bear Markets Economically Important?
Auteurs : TU J. (Singapore Management University)
Intervenants : Jun TU
Commentateurs : A. KIND (Swiss Institute of Banking and Finance and University of St Gallen)
Risk Shifting, Bubbles, and Self-fulfilling Crises
Auteurs : CHALLE E. (University of Paris-Dauphine) and RAGOT X. (CNRS, Pôle de Sciences Economiques)
Intervenants : Edouard CHALLE
SESSION VIII-1 : CORPORATE FINANCE 5 (20/12/2005 à 16h30)
V. BESSIERE (University of Montpellier)
Equity and Cash in Intercorporate Asset Sales: Theory and Evidence
Auteurs : HEGE U. (HEC Paris), LOVO S. (HEC Paris), SLOVIN M. (Louisiana State Univ. and HEC) and SUSHKA M. (Arizona State Univ. and HEC)
Intervenants : Ulrich HEGE
Commentateurs : E. CROCI (University of Lugano)
Competition, Human Capital and Innovation Incentives
Auteurs : SEVILIR M. (University of North Carolina) and FULGHIERI P. (University of North Carolina)
Intervenants : Merih SEVILIR
Commentateurs : A. RENUCCI (University of Paris-Dauphine)
Earnings estimates and market reactions « anchoring » as a potential explanation for two underreaction phenomena
Auteurs : KAESTNER M. (University of Montpellier)
Intervenants : Michael KAESTNER
Commentateurs : G. IMAD'EDDINE (University of Lille 2)
SESSION VIII-2 : FINANCIAL MARKETS 3 (20/12/2005 à 16h30)
F. QUITTARD-PINON (ISFA - LABORATOIRE SAF - LYON 1)
The Determinants of Default Correlations
Auteurs : PATEL K. (University of Cambridge) and PEREIRA R. (University of Cambridge)
Intervenants : Ricardo PEREIRA
Commentateurs : A. SIMONOV (Stockholm School of Economics)
International Stock-Bond Correlations in a Simple Affine Asset Pricing Model
Auteurs : D’ADDONA S. (Graduate School of Business, Columbia Univ.) and KIND A. (Swiss Institute of Banking, Univ. of St. Gallen)
Intervenants : Axel H. KIND
Commentateurs : A.L. CHUN (Stanford University)
Expectations, Bond Yields and Monetary Policy
Auteurs : CHUN A.L. (Stanford University)
Intervenants : Albert Lee CHUN
Commentateurs : S. SAADI (University of Ottowa)
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