Adam Smith Workshops in Asset Pricing and Corporate Finance 2019

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

This event will be taking place at Imperial College Business School, Exhibition Road, South Kensington, over the course of two days – Thursday 21st and Friday 22nd March 2019.

The programme can be downloaded here

Programme: Thursday 21st March 2019

10:00 – 11:00 Registration/Refreshments, Lower Ground Foyer, Business School
ASSET PRICING CORPORATE FINANCE
Room LTG LT3
11:00 – 12:00 Paper: Priceless Consumption

Authors: Frederico Belo*, Andres Donangelo, Mindy Z. Xiaolan

Discussant: Marianne Andries

Paper: Stakeholder Orientation and Firm Value

Authors: K. J. Martijn Cremers, Scott B. Guernsey*, Simone M. Sepe

Discussant:  Dirk Jenter

12:00 – 13:00 Paper: Understanding Global Equity Valuations

Authors: Ralph S.J. Koijen, Robert J. Richmond*, Motohiro Yogo

Discussant: Kent Daniel

Paper: Financial Inclusion, Human Capital, and Wealth Accumulation: Evidence from the Freedman’s Savings Bank

Authors: Luke C.D. Stein, Constantine Yannelis*

Discussant: Adrien Matray

13:00 – 14:00 Lunch, Lower Ground Foyer and LG19A
14:00 – 15:00 Paper: International Yield Curves and Currency Puzzles

Authors: Mikhail Chernov*, Drew Creal

Discussant: Magnus Dahlquist

Paper: Management (of) Proposals

Authors: Ilona Babenko*, Goeun Choi, Rik Sen

Discussant: Vicente Cunat

15:00 – 15:25 Delegates to make their way to City & Guilds Building

Joint Asset Pricing and Corporate Finance Session

CAGB 500, City & Guilds Building, South Kensington Campus

15:25 – 15:30 Welcome Address, Dean Francisco Veloso
15:30 – 16:30 Paper: Foreseen Risks

Authors: Joao F. Gomes*, Marco Grotteria, Jessica A. Wachter

Discussant: Martin Oehmke

16:30 – 17:30 Paper: The Tragedy of Complexity

Authors: Martin Oehmke, Adam Zawadowski*

Discussant: Anton Tsoy

17:30 – 19:00 Drinks Reception, Lower Ground Foyer, Business School

Programme: Friday 22nd  March 2019

08:30 – 09:30 Refreshments
ASSET PRICING CORPORATE FINANCE
Room LT1 LT2
09:30 – 10:30 Paper: Risk Sharing and the Term Structure of Interest Rates

Authors: Andres Schneider*

Discussant: Bernard Dumas

Paper: Investor Ideology

Authors: Patrick Bolton, Tao Li, Enrichetta Ravina*, Howard Rosenthal

Discussant: Hannes Wagner

10:30 – 11:30 Paper: Are Tokens Securities? An Anatomy of Initial Coin Offerings

Authors: Evgeny Lyandres*, Berardino Palazzo, Daniel Rabetti

Discussant: Ioanid Rosu

Paper: Social Progress and Corporate Culture

Authors: Gary Gorton, Alexander K. Zentefis*

Discussant: Pedro Bordalo

11:30 – 12:00 Refreshments, Lower Ground Foyer
12:00 – 13:00 Paper: Reconsidering Returns

Authors: Samuel M. Hartzmark*, David H. Solomon

Paper: Identifying Price Informativeness

Authors: Eduardo Davila*, Cecilia Parlatore

Paper: US Fiscal Cycle and the Dollar

Authors: Zhengyang Jiang*

Paper: Keeping Options Open: What Motivates Entrepreneurs?

Authors: Sylvain Catherine*

Discussant: Joao Cocco

13:00 – 14:00 Lunch, Lower Ground Foyer and LG19A
14:00 – 15:00 Paper: Household Portfolio Underdiversification and Probability Weighting: Evidence from the Field

Authors: Stephen G. Dimmock, Roy Kouwenberg, Olivia S. Mitchell, Kim Peijnenburg*

Discussant: Michaela Pagel

Paper: Shocks and Technology Adoption: Evidence from Electronic Payment Systems

Authors: Nicolas Crouzet, Apoorv Gupta, Filippo Mezzanotti*

Discussant:  Johan Hombert

15:00 – 16:00 Paper: Information Cascades and Threshold Implementation

Authors: Lin William Cong, Yizhou Xiao*

Discussant: Naveen Gondhi

Paper: Consumer-Lending Discrimination in the Era of FinTec

Authors: Robert Bartlett, Adair Morse, Richard Stanton*, Nancy Wallace

Discussant: Ansgar Walther