Foro de Finanzas: XVI Finance Congress |
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Summary of All Sessions |
| # | Date/Time | Title | Papers |
|---|---|---|---|
| 1 | November 13, 2008 9:30-11:00 | J1: Family Businesses | 3 |
| 2 | November 13, 2008 9:30-11:00 | J1: Forecasting Methods | 3 |
| 3 | November 13, 2008 9:30-11:00 | J1: Interest Rates and Exchange Rates | 3 |
| 4 | November 13, 2008 9:30-11:00 | J1: Trade Execution | 3 |
| 5 | November 13, 2008 11:30-1:00 | J2: Institutional and Individual Investor Behavior | 3 |
| 6 | November 13, 2008 11:30-1:00 | J2: Hard-core Asset Pricing | 2 |
| 7 | November 13, 2008 11:30-1:00 | J2: Option Pricing | 3 |
| 8 | November 13, 2008 11:30-1:00 | J2: Liquidity | 3 |
| 9 | November 13, 2008 15:30-17:00 | J3: Dominant Shareholders | 3 |
| 10 | November 13, 2008 15:30-17:00 | J3: Interest Rates and Volatility | 2 |
| 11 | November 13, 2008 15:30-17:00 | J3: Swaps and Futures | 3 |
| 12 | November 13, 2008 15:30-17:00 | J3: Bank Regulation I | 3 |
| 13 | November 13, 2008 17:30-19:00 | J4: Mergers and Acquisitions | 3 |
| 14 | November 13, 2008 17:30-19:00 | J4: Financial Econometrics | 3 |
| 15 | November 13, 2008 17:30-19:00 | J4: CO2 Markets | 2 |
| 16 | November 13, 2008 17:30-19:00 | J4: Bank Regulation II | 3 |
| 17 | November 14, 2008 9:00-10:30 | V1: Corporate Governance | 3 |
| 18 | November 14, 2008 9:00-10:30 | V1: Dynamic Asset Pricing | 3 |
| 19 | November 14, 2008 9:00-10:30 | V1: Asset Pricing Applications to Energy Markets | 3 |
| 20 | November 14, 2008 9:00-10:30 | V1: International Corporate Finance | 3 |
| 21 | November 14, 2008 11:00-12:30 | V2: Restructuring | 3 |
| 22 | November 14, 2008 11:00-12:30 | V2: Asset Pricing Topics | 3 |
| 23 | November 14, 2008 11:00-12:30 | V2: Credit Derivatives | 3 |
| 24 | November 14, 2008 11:00-12:30 | V2: Cross-Border Flows | 3 |
| 25 | November 14, 2008 17:00-18:30 | V3: Investment Policy | 3 |
| 26 | November 14, 2008 17:00-18:30 | V3: Energy Markets | 3 |
| 27 | November 14, 2008 17:00-18:30 | V3: Macro Finance | 3 |
27 sessions, 78 papers |
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Foro de Finanzas: XVI Finance Congress |
|---|
Complete List of All Sessions |
Session 1: J1: Family Businesses |
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| Session Chair: Félix J. López Iturriaga, University of Valladolid |
| Date: November 13, 2008 |
| Time: 9:30 - 11:00 |
| EARNINGS MANAGEMENT AND CONTEST TO THE CONTROL: AN ANALYSIS OF EUROPEAN FAMILY FIRMS |
| By Mauricio A. Jara Bertin Universidad de Valladolid Félix J. López Iturriaga Universidad de Valladolid |
| Presented by: Félix J. López Iturriaga, University of Valladolid |
| Discussant: Javier Gil-Bazo, Universidad Carlos III |
| Does family ownership impact positively on firm value? Empirical evidence from Western Europe |
| By Universidad de Salamanca |
| Presented by: Julio Pindado, Universidad de Salamanca |
| Discussant: Carmen Martinez-Carrascal, Banco de Espana |
| ANÁLISIS DE LA CREACIÓN DE VALOR EN LAS EMPRESAS FAMILIARES EUROPEAS |
| By Mª José Casasola (Univ. Carlos III Madrid) Zulima Fernández (Univ. Carlos III Madrid) Mª Jesús Nieto (Univ. Carlos III Madrid) Belén Usero (Univ. Carlos III Madrid) |
| Presented by: MARIA JOSE CASASOLA-MARTÍNEZ, UNIVERSIDAD CARLOS III DE MADRID |
| Discussant: Pablo de Andres Alonso, Universidad de Valladolid |
Session 2: J1: Forecasting Methods |
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| Session Chair: Enrique Sentana, CEMFI |
| Date: November 13, 2008 |
| Time: 9:30 - 11:00 |
| Forecasting performance of S&P500 using symmetric and asymmetric error statistics: An alternative for the Conditional Autoregressive Range (CARR) model |
| By José Luis Miralles Marcelo. University of Extremadura José Luis Miralles Quirós. University of Extremadura María del Mar Miralles Quirós. University of Extremadura |
| Presented by: Jose Luis Miralles-Marcelo, University of Extremadura |
| Discussant: Santiago Forte, ESADE Business School |
| Forecast Evaluation of Explanatory Models of Financial Variability |
| By Genaro Sucarrat, Universidad Carlos III de Madrid |
| Presented by: Genaro Sucarrat, Universidad Carlos III de Madrid |
| Discussant: Enrique Sentana, CEMFI |
| The out-of-sample performance of robust portfolio optimization |
| By André Alves Portela Santos, Ph.D. candidate, Universidad Carlos III de Madrid. |
| Presented by: André Santos, Universidad Carlos III de Madrid |
| Discussant: David Veredas, Université Libre de Bruxelles |
Session 3: J1: Interest Rates and Exchange Rates |
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| Session Chair: Angel Leon, Universidad de Alicante |
| Date: November 13, 2008 |
| Time: 9:30 - 11:00 |
| Jumps in interest rates: To what extent do news surprises matter? |
| By Angel Leon (University of Alicante) Szabolcs Sebestyen (Catholic University of Portugal) |
| Presented by: Angel Leon, Universidad de Alicante |
| Discussant: Juan Nave, Universidad CEU Cardenal Herrera |
| McCallum Rules, Exchange Rates and the Term Structure of Interest Rates |
| By Antonio Diez de los Rios, Bank of Canada |
| Presented by: Antonio Diez de los Rios, BBVA |
| Discussant: Jose Fernandez Serrano, |
| Structural Breaks in Volatility: Evidence for the OECD and non-OECD Real Exchange Rates |
| By Amalia Morales-Zumaquero (University of Málaga) Simon Sosvilla-Rivero (FEDEA and Universidad Complutense de Madrid) |
| Presented by: Amalia Morales-Zumaquero, University of Málaga |
| Discussant: Mª Isabel Martínez-Serna, Universidad de Murcia |
Session 4: J1: Trade Execution |
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| Session Chair: Ariadna Dumitrescu, ESADE Business School |
| Date: November 13, 2008 |
| Time: 9:30 - 11:00 |
| Stock Splits in Retail Dominant Order Driven Market |
| By Pantisa Pavabutr (Thammasat University) Kulpatra Sirodom (Thammasat University) |
| Presented by: Kulpatra Sirodom, Thammasat University |
| Discussant: Laurence Copeland, Cardiff University |
| Best Execution in Funds Trading - The German Case |
| By Sven S. Groth, Goethe-University Frankfurt |
| Presented by: Sven Groth, E-Finance Lab |
| Discussant: Pantisa Pavabutr, Thammasat University |
| A Theory of Inefficient Quotes. Empirical Evidence in Options Markets |
| By Iñaki R. Longarela. Department of Economics and Management, NFH, University of Tromsø, Norway. Silvia Mayoral, Universidad de Navarra, Facultad de Económicas, Departamento de Métodos Cuántitativos. |
| Presented by: Silvia Mayoral, Universidad de Navarra |
| Discussant: Ariadna Dumitrescu, ESADE Business School |
Session 5: J2: Institutional and Individual Investor Behavior |
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| Session Chair: Javier Gil-Bazo, Universidad Carlos III |
| Date: November 13, 2008 |
| Time: 11:30 - 1:00 |
| The Dynamics of Management Fees in the Mutual Fund Industry |
| By Ana Carmen Díaz Mendoza Miguel Ángel Martinez Sedano |
| Presented by: Ana Carmen Diaz Mendoza, Universidad del Pais Vasco |
| Discussant: Miguel Angel Acedo Ramírez, Universidad de La Rioja |
| The Performance of Socially Responsible Mutual Funds: The Role of Fees and Management Companies |
| By Javier Gil-Bazo, Universidad Carlos III de Madrid André Alves Portela Santos, Universidad Carlos III de Madrid Pablo Ruiz-Verdú, Universidad Carlos III de Madrid |
| Presented by: Andre Santos, Universidad Carlos III de Madrid |
| Discussant: B. Gabriela Mundaca, Ragnar Frisch Centre for Economic Research |
| ANÁLISIS DEL COMPORTAMIENTO DEL INVERSOR EN FONDOS DE INVERSIÓN SOCIALMENTE RESPONSABLES |
| By Matallín-Sáez, Juan Carlos Barreda-Tarrazona, Iván Balaguer Franc, Mª Rosario Universitat Jaume I - Castellón |
| Presented by: Juan Carlos Matallín-Sáez, Universitat Jaume I |
| Discussant: Laura Andreu, |
Session 6: J2: Hard-core Asset Pricing |
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| Session Chair: Christian Westheide, University of Bonn |
| Date: November 13, 2008 |
| Time: 11:30 - 1:00 |
| Understanding Portfolio Efficiency with Conditioning Information |
| By Francisco Peñaranda, UPF |
| Presented by: Francisco Penaranda, Universitat Pompeu Fabra |
| Discussant: Jose Penalva, Universidad Carlos III |
| The Conditional Relation between Fama-French Betas and Return |
| By Stefan Koch, Bonn Graduate School of Economics, University of Bonn Christian Westheide, Bonn Graduate School of Economics, University of Bonn |
| Presented by: Christian Westheide, University of Bonn |
| Discussant: Juan Pedro Gomez, IE Business School |
Session 7: J2: Option Pricing |
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| Session Chair: Antoni Vaello Sebastià, Universitat de lee Illes Balears |
| Date: November 13, 2008 |
| Time: 11:30 - 1:00 |
| Subjective Executive Stock Option Valuation Using Simulations |
| By Angel León, Universidad de Alicante Antoni Vaello Sebastià, Universitat de les Illes Balears |
| Presented by: Antoni Vaello Sebastià, Universitat de lee Illes Balears |
| Discussant: Ana González, Universidad del País Vasco |
| The Sensitivity of American Options to Suboptimal Exercise Strategies |
| By Alfredo Ibáñez, Caja Madrid Ioannis Paraskevopoulos, Caja Madrid |
| Presented by: Alfredo Ibáñez, Universidad Carlos III |
| Discussant: Antonio Diaz, Universidad de Castilla-La Mancha |
| Pricing American Interest Rate Options under the Jump-Extended Vasicek Model |
| By Sanjay K. Nawalkha Isenberg School of Management, University of Massachusetts, Amherst, MA. Natalia A. Beliaeva Sawyer Business School, Suffolk University, Boston, MA. Gloria M. Soto Facultad de Economia y Empresa, University of Murcia, Murcia, Spain. |
| Presented by: Gloria Soto, Universidad de Murcia |
| Discussant: Angel Leon, Universidad de Alicante |
Session 8: J2: Liquidity |
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| Session Chair: Silvia Mayoral, Universidad de Navarra |
| Date: November 13, 2008 |
| Time: 11:30 - 1:00 |
| The Other Side of the Trading Story: Evidence from NYSE |
| By Woon K. Wong, Cardiff Business School, UK Laurence Copeland, Cardiff Business School, UK Ralph Y. C. Lu, Ming Chuan University, Taiwan |
| Presented by: Woon Wong, Cardiff Business School |
| Discussant: Silvia Mayoral, Universidad de Navarra |
| Market Makers as Information Providers: the Natural Experiment of STAR |
| By 1) Pietro Perotti (Bocconi University) 2) Barbara Rindi (Bocconi University) |
| Presented by: Pietro Perotti, Università Bocconi |
| Discussant: Sven Groth, E-Finance Lab |
| The long-term price effect of S&P 500 index addition and earnings quality |
| By Petya Platikanova, University Pompeu Fabra |
| Presented by: Petya Platikanova, University Pompeu Fabra |
| Discussant: Kulpatra Sirodom, Thammasat University |
Session 9: J3: Dominant Shareholders |
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| Session Chair: Josep Tribo, Universidad Carlos III de Madrid |
| Date: November 13, 2008 |
| Time: 15:30 - 17:00 |
| Friendly or Controlling Boards? |
| By Pablo de Andrés Alonso, Universidad de Valladolid Juan Antonio Rodríguez Sanz, Universidad de Valladolid |
| Presented by: Pablo de Andres Alonso, Universidad de Valladolid |
| Discussant: Jose Campa, IESE |
| BANKS’ EQUITY HOLDINGS AND THEIR IMPACT ON SECURITY ISSUES |
| By Josep A. Tribó Business Department Universidad Carlos III |
| Presented by: Josep Tribo, Universidad Carlos III de Madrid |
| Discussant: Natalia Guseva, Swiss Finance Institute |
| Blockholders' Control: Measurement, Modelling, and Some Evidence |
| By Miguel Manjón-Antolín, Department of Economics (Rovira i Virgili University) |
| Presented by: Miguel Manjon, Rovira i Virgili University |
| Discussant: Francisco Callado, Universitat de Girona |
Session 10: J3: Interest Rates and Volatility |
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| Session Chair: Ana González, Universidad del País Vasco |
| Date: November 13, 2008 |
| Time: 15:30 - 17:00 |
| Análisis Empírico de la Volatilidad Estocástica y Saltos para Modelos en Tiempo Continuo de Índices Bursátiles utilizando el EMM |
| By Ana González Urteaga Universidad del País Vasco |
| Presented by: Ana González, Universidad del País Vasco |
| Discussant: Maria del Mar Miralles, |
| The predictive power of interest rate volatility on Economic Sentiment: Evidence for Germany and the U.K. |
| By Mª Isabel Martínez Serna,Universidad de Murcia Eliseo Navarro Arribas, Universidad de Castilla-La Mancha |
| Presented by: Mª Isabel Martínez-Serna, Universidad de Murcia |
| Discussant: Jose Luis Miralles-Marcelo, University of Extremadura |
Session 11: J3: Swaps and Futures |
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| Session Chair: Javier Mencia, Bank of Spain |
| Date: November 13, 2008 |
| Time: 15:30 - 17:00 |
| Price Discovery in the Indian Gold Futures Market |
| By Piyamas Chaihetphon, Merill Lynch Securities Pantisa Pavabutr, Thammasat University |
| Presented by: Pantisa Pavabutr, Thammasat University |
| Discussant: Alvaro Cartea, Birkbeck College, University of London |
| Implied Default Barrier in Credit Default Swap Premia |
| By Francisco Alonso, Banco de España Santiago Forte, ESADE Business School J. Manuel Marqués, Banco de España |
| Presented by: Santiago Forte, ESADE Business School |
| Discussant: Isabel Abínzano, Universidad Pública de Navarra |
| Regime-switching in Dow Jones EUROSTOXX 50 Spot and Futures index markets |
| By José Luís Fernández-Serrano, Instituto Nacional de Estadística, jlferser@ine.es M. Dolores Robles-Fernández, Universidad Complutense, mdrobles@ccee.ucm.es |
| Presented by: Jose Fernandez Serrano, |
| Discussant: Javier Mencia, Bank of Spain |
Session 12: J3: Bank Regulation I |
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| Session Chair: Ricardo GIMENO, Banco de España |
| Date: November 13, 2008 |
| Time: 15:30 - 17:00 |
| Financial markets believes on central banks |
| By Ricardo Gimeno, Banco de España Jose Manuel Marqués, Banco de España |
| Presented by: Ricardo GIMENO, Banco de España |
| Discussant: Augusto Hasman, Universidad Carlos III |
| Internet Banking in Europe: a comparative analysis |
| By Francesca Arnaboldi, Dipartimento di Economia, Università di Milano Peter Claeys, Grup AQR IREA, Universitat de Barcelona |
| Presented by: Francesca Arnaboldi, |
| Discussant: Emilio Navarro Ibanez, ESADE |
| Financial Contagion and Depositor Monitoring |
| By Augusto Hasman, Universidad Carlos III Margarita Samartín, Universidad Carlos III Jos Vanbommel, Oxford University |
| Presented by: Margarita Samartín, Universidad Carlos III |
| Discussant: ANTONIO TRUJILLO PONCE, UNIVERSIDAD PABLO DE OLAVIDE |
Session 13: J4: Mergers and Acquisitions |
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| Session Chair: Jordi Llido, Deloitte |
| Date: November 13, 2008 |
| Time: 17:30 - 19:00 |
| Merger Theory, Stock Returns and Deal Drivers – The Impact of International Bank M&As on Targets, Bidders and Peers |
| By Hankir, Yassin, Goethe-University Frankfurt Rauch, Christian, Goethe-University Frankfurt Umber, Marc, Goethe-University Frankfurt |
| Presented by: Marc Umber, Johann Wolfgang Goethe-University |
| Discussant: Francisco Sogorb, |
| RELEVANCIA DEL ENTORNO LEGAL E INSTITUCIONAL EN LA CREACIÓN DE VALOR DE LAS ADQUISICIONES EMPRESARIALES |
| By Isabel Feito Ruiz (Universidad de Oviedo) Susana Menéndez Requejo (Universidad de Oviedo) |
| Presented by: ISABEL FEITO RUIZ, UNIVERSIDAD DE OVIEDO |
| Discussant: Nuno Fernandes, Universidade Católica Portuguesa |
| CASH, ACCESS TO CREDIT, AND VALUE CREATION IN M&As |
| By Jose Manuel Campa IESE Business School Ignacio Hernando Banco de España |
| Presented by: Jose Campa, IESE |
| Discussant: Augusto Ruperez Micola, Universitat Pompeu Fabra |
Session 14: J4: Financial Econometrics |
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| Session Chair: David Veredas, Université Libre de Bruxelles |
| Date: November 13, 2008 |
| Time: 17:30 - 19:00 |
| The Efficiency of the SDF and Beta Methods at Evaluating Multi-factor Asset-Pricing Models |
| By Ian Garrett - University of Manchester Stuart Hyde - University of Manchester Martín Lozano - Universidad del País Vasco |
| Presented by: Martin Lozano, Universidad del País Vasco / Manchester Business School |
| Discussant: Genaro Sucarrat, Universidad Carlos III de Madrid |
| Multivariate location-scale mixtures of normals and mean-variance-skewness portfolio allocation |
| By Javier Mencía, Banco de España Enrique Sentana, CEMFI |
| Presented by: Javier Mencia, Bank of Spain |
| Discussant: Mariano González, CEU |
| Testing Conditional Asymmetry. A Residual-Based Approach |
| By Philippe Lambert, Universite de Liege Sebastien Laurent, University of Namur David Veredas, Free University of Brussels |
| Presented by: David Veredas, Université Libre de Bruxelles |
| Discussant: Martin Lozano, Universidad del País Vasco / Manchester Business School |
Session 15: J4: CO2 Markets |
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| Session Chair: Maria Mansanet Bataller, Caisse des Dépôts |
| Date: November 13, 2008 |
| Time: 17:30 - 19:00 |
| Carbon Price Risk and the Clean Dark Spread |
| By Luis M. Abadie Bilbao Bizkaia Kutxa José M. Chamorro University of the Basque Country |
| Presented by: Luis María Abadie, Bilbao Bizkaia Kutxa |
| Discussant: Gregorio Serna, Universidad de Castilla La Mancha |
| The Impact of National Allocation Plans on CO2 Prices |
| By Maria Mansanet-Bataller, Mission Climat de la Caisse des Dépôts, 278 , Boulevard Saint - Germain, 75356 Paris 07 SP. France. e-mail: maria.mansanet@caissedesdepots.fr Angel Pardo, Department of Financial Economics, Avda de los Naranjos s/n, Faculty of Economics, University of Valencia, 46022 Valencia, Spain. e-mail: angel.pardo@uv.es |
| Presented by: Maria Mansanet Bataller, Caisse des Dépôts |
| Discussant: Javier Población, Banco de España |
Session 16: J4: Bank Regulation II |
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| Session Chair: Nuria Suárez, Universidad de Oviedo |
| Date: November 13, 2008 |
| Time: 17:30 - 19:00 |
| MITIGACIÓN DEL RIESGO DE CRÉDITO EN BASILEA II Y LA FINANCIACIÓN DE LAS PYME: El caso del Aval de las SGR |
| By Clara Cardone-Riportella Depto. de Economía de la Empresa Universidad Carlos III de Madrid Calle Madrid, 126 ( 28903) Getafe -Madrid- España E-mail: ccardone@emp.uc3m.es Phone: 00 34 916249650 Antonio Trujillo Ponce Depto. de Dirección de Empresas Universidad Pablo de Olavide Carretera de Utrera, Km 1 (41013) Sevilla - España E-mail: atrupon@upo.es; Phone: 00 34 954349185 |
| Presented by: ANTONIO TRUJILLO PONCE, UNIVERSIDAD PABLO DE OLAVIDE |
| Discussant: Juan Piñeiro, |
| Why do banks securitize: evidence from Italy |
| By MARIAROSARIA AGOSTINO, Università della Calabria, Italy MARIA MAZZUCA, Università della Calabria, Italy, maria.mazzuca@unical.it |
| Presented by: maria mazzuca, university of calabria |
| Discussant: Josep Tribo, Universidad Carlos III de Madrid |
| HOW INSTITUTIONS AND REGULATION SHAPE THE INFLUENCE OF BANK CONCENTRATION ON ECONOMIC GROWTH. INTERNATIONAL EVIDENCE |
| By Ana I. Fernández (Universidad de Oviedo) Francisco González (Universidad de Oviedo) Nuria Suárez (Universidad de Oviedo) |
| Presented by: Nuria Suárez, Universidad de Oviedo |
| Discussant: Francesca Arnaboldi, |
Session 17: V1: Corporate Governance |
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| Session Chair: Arturo Bris, IMD |
| Date: November 14, 2008 |
| Time: 9:00 - 10:30 |
| Corporate Governance and Liquidity |
| By Ariadna Dumitrescu ESADE Business School |
| Presented by: Ariadna Dumitrescu, ESADE Business School |
| Discussant: Arturo Bris, IMD |
| The Role of Corporate Governance in Tender Offers |
| By Natalia Guseva, Swiss Finance Institute, University of Lausanne |
| Presented by: Natalia Guseva, Swiss Finance Institute |
| Discussant: Félix J. López Iturriaga, University of Valladolid |
| Do investors react to corporate governance news? An empirical analysis for the Spanish market |
| By Natalia Utrero-González, Universitat Autònoma de Barcelona Francisco J. Callado-Muñoz, Universitat de Girona |
| Presented by: Francisco Callado, Universitat de Girona |
| Discussant: Carlos López Gutiérrez, Universidad de Cantabria |
Session 18: V1: Dynamic Asset Pricing |
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| Session Chair: Jose Penalva, Universidad Carlos III |
| Date: November 14, 2008 |
| Time: 9:00 - 10:30 |
| The Effect of Relative Wealth Concerns on the Cross-section of Stock Returns |
| By Juan-Pedro Gomez, IE Business School Richard Priestley, BI Oslo Fernando Zapatero, Marshall School of Business, USC |
| Presented by: Juan Pedro Gomez, IE Business School |
| Discussant: Christian Westheide, University of Bonn |
| Intergenerational Risk Sharing |
| By José S. Penalva Zuasti, Universidad Carlos III, Madrid Jos van Bommel, Said Business School, Oxford |
| Presented by: Jose Penalva, Universidad Carlos III |
| Discussant: Antonio Doblas-Madrid, Michigan State University |
| Consumption, Liquidity and the Cross-Sectional Variation of Expected Returns |
| By Elena Márquez, Universidad Complutense Belén Nieto, Universidad de Alicante Gonzalo Rubio, Universidad CEU Cardenal Herrera |
| Presented by: Gonzalo Rubio, Universidad Cardenal Herrera CEU |
| Discussant: Laura Andreu, |
Session 19: V1: Asset Pricing Applications to Energy Markets |
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| Session Chair: Isabel Figuerola-Ferretti, Universidad Carlos III de Madrid |
| Date: November 14, 2008 |
| Time: 9:00 - 10:30 |
| EUROPEAN NATURAL GAS SPOT MARKETS: VOLATILITY TRANSMISSION AND JUMPS MODELING |
| By Roberto Bermejo-Aparicio, Ahorro Corporación Manuel Moreno, University of Castilla-La Mancha Pablo Villaplana, Comisión Nacional de Energía |
| Presented by: Roberto Bermejo, Ahorro Corporación |
| Discussant: Juan-Miguel Londoño, Universidad del Pais Vasco |
| Modelling and Measuring Price Discovery on the NYMEX and IPE Crude Oil Markets |
| By Isabel Figuerola-Ferretti, Departamento de Economia de la Empresa, Universidad Carlos III de Madrid Jesus Gonzalo, Departamento de Economía, Universidad Carlos III de Madrid |
| Presented by: Isabel Figuerola-Ferretti, Universidad Carlos III de Madrid |
| Discussant: Dawid Brychcy, International Doctorate In Economic Anal |
| Modelling Electricity Prices with Forward Looking Capacity Constraints |
| By Alvaro Cartea, Commoditites Finance Centre, Birkbeck University of London Marcelo G. Figueroa, British Petroleum, London, UK Helyette Geman, Commoditites Finance Centre, Birkbeck University of London |
| Presented by: Alvaro Cartea, Birkbeck College, University of London |
| Discussant: Manuel Moreno, University of Castilla-La Mancha |
Session 20: V1: International Corporate Finance |
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| Session Chair: Jose Luis Martin Marin, |
| Date: November 14, 2008 |
| Time: 9:00 - 10:30 |
| ¿CÓMO SE VALORAN LAS ACCIONES ESPAÑOLAS: EN EL MERCADO DE CAPITALES DOMÉSTICO O EN EL EUROPEO? |
| By BEGOÑA FONT-BELAIRE, Departamento de Matemáticas para la Economía y la Empresa, Universitat de València (SPAIN). ALFREDO JUAN GRAU-GRAU, Departamento de Finanzas Empresariales,Universitat de València (SPAIN). |
| Presented by: Alfredo Grau, |
| Discussant: Jose Luis Martin Marin, |
| FINANCING OBSTACLES AND GROWTH: AN ANALYSIS FOR EURO AREA NON-FINANCIAL CORPORATIONS |
| By Chiara Coluzzi -University of Rome “Tor Vergata” Annalisa Ferrando -European Central Bank Carmen Martìnez-Carrascal -Banco de España |
| Presented by: Chiara Coluzzi, University of Rome "Tor Vergata" |
| Discussant: Ricardo GIMENO, Banco de España |
| Government, Taxes and Financial Crises |
| By Business Department, Universidad Carlos III Public-Private Sector Research Center, IESE Business School |
| Presented by: Augusto Hasman, Universidad Carlos III |
| Discussant: Chiara Coluzzi, University of Rome "Tor Vergata" |
Session 21: V2: Restructuring |
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| Session Chair: Carlos López Gutiérrez, Universidad de Cantabria |
| Date: November 14, 2008 |
| Time: 11:00 - 12:30 |
| EL COMPORTAMIENTO DEL VALOR DE LAS EMPRESAS BAJO DIFERENTES SISTEMAS CONCURSALES: UN ANÁLISIS EMPÍRICO EUROPA- EEUU |
| By Carlos López Gutiérrez Universidad de Cantabria Begoña Torre Olmo Universidad de Cantabria Sergio Sanfilippo Azofra Universidad de Cantabria |
| Presented by: Carlos López Gutiérrez, Universidad de Cantabria |
| Discussant: Ignacio Requejo, |
| Influencia de las características de las Ofertas Públicas Iniciales en la liquidez y actividad negociadora de las acciones en circulación |
| By Miguel A. Acedo Ramírez, Universidad de La Rioja Fco. Javier Ruiz Cabestre, Universidad de La Rioja Rafael Santamaría Aquilué, Universidad Pública de Navarra |
| Presented by: Miguel Angel Acedo Ramírez, Universidad de La Rioja |
| Discussant: Miguel Martínez Sedano, Universidad del País Vasco |
| A Theory of Dismantling Ownership - The Role of Venture Capital in an IPO |
| By Rodolfo Campos, UCLA and IESE Business School Gonzalo Islas, Universidad Adolfo Ibanez Raphael W. Lam, International Monetary Fund |
| Presented by: Raphael W. Lam, International Monetary Fund |
| Discussant: Mireia Gine, ESADE |
Session 22: V2: Asset Pricing Topics |
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| Session Chair: Francisco Penaranda, Universitat Pompeu Fabra |
| Date: November 14, 2008 |
| Time: 11:00 - 12:30 |
| A further look at investors' abilities: 'Smart Money' or 'Smart Investors'? |
| By Luis Vicente, University of Zaragoza Cristina Ortiz, University of Zaragoza Laura Andreu, University of Zaragoza |
| Presented by: Cristina Ortiz, University of Zaragoza |
| Discussant: Gloria Batllori, |
| A Robust Model of Bubbles with Multidimensional Uncertainty |
| By Antonio Doblas-Madrid Michigan State University |
| Presented by: Antonio Doblas-Madrid, Michigan State University |
| Discussant: Francisco Penaranda, Universitat Pompeu Fabra |
| Do the Fama and French Factors Proxy for State Variables that Predict Macroeconomic Growth in the Eurozone? |
| By Andreas Hanhardt, ESADE - University Ramon Llull Carmen Ansotegui, ESADE - University Ramon Llull |
| Presented by: Andreas Hanhardt, ESADE |
| Discussant: Belen Nieto Domenech, Universidad de Alicante |
Session 23: V2: Credit Derivatives |
|---|
| Session Chair: Santiago Forte, ESADE Business School |
| Date: November 14, 2008 |
| Time: 11:00 - 12:30 |
| Credit Risk Dicovery in the Stock and CDS Market: Who, When and Why Leads? |
| By Santiago Forte, ESADE Business School Lidija Lovreta, ESADE Business School |
| Presented by: Lidija Lovreta, ESADE Business School |
| Discussant: Antonio Rubia Serrano, Universidad de Alicante |
| Are There Arbitrage Opportunities in Credit Derivatives Markets? |
| By Sergio Mayordomo Departamento de Economía de la Empresa Universidad Carlos III de Madrid Juan Ignacio Peña Departamento de Economía de la Empresa Universidad Carlos III de Madrid Juan Romo Departamento de Estadística Universidad Carlos III de Madrid |
| Presented by: Sergio Mayordomo, Universidad Carlos III de Madrid |
| Discussant: Antoni Vaello Sebastià, Universitat de lee Illes Balears |
| On the risk premium embedded in CDO tranches |
| By Antton Barandiaran, Banco Santander Manuel Moreno, University of Castilla-La Mancha Pedro Serrano, University Carlos III de Madrid |
| Presented by: Manuel Moreno, University of Castilla-La Mancha |
| Discussant: Gloria Soto, Universidad de Murcia |
Session 24: V2: Cross-Border Flows |
|---|
| Session Chair: Lucía Cuadro-Sáez, |
| Date: November 14, 2008 |
| Time: 11:00 - 12:30 |
| The Transmission of Emerging Market Shocks to Global Equity Markets |
| By Lucía Cuadro-Sáez Banco de España |
| Presented by: Lucía Cuadro-Sáez, |
| Discussant: Harald Lohre, Union Investment |
| Does Growth & Quality of Capital Markets and Investment Policies drive Foreign Capital? The case of Cross-border Mergers & Acquisitions from leading Emerging Economies |
| By Juan Piñeiro Chousa University of Santiago de Compostela Artur Tamazian University of Santiago de Compostela Krishna Vadlamannati University of Santiago de Compostela |
| Presented by: Artur Tamazian, USC |
| Discussant: Alfredo Grau, |
| On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listing Waves |
| By Nuno Fernandes Universidade Católica Portuguesa, FCEE, Palma de Cima, 1649-023 Lisboa, Portugal. Email: nfernandes@fcee.ucp.pt Mariassunta Giannetti Stockholm School of Economics, CEPR and ECGI, PO Box 6501, Sveavagen 65, S 11 383 Stockholm, Sweden. Email: Mariassunta.Giannetti@hhs.se |
| Presented by: Nuno Fernandes, Universidade Católica Portuguesa |
| Discussant: Christian Fons-Rosen, London School of Economics |
Session 25: V3: Investment Policy |
|---|
| Session Chair: ISABEL FEITO RUIZ, UNIVERSIDAD DE OVIEDO |
| Date: November 14, 2008 |
| Time: 17:00 - 18:30 |
| Corporate investment, cash flow levels and market imperfections: a study across industries |
| By B. Gabriela Mundaca Frisch Center of Economic Research - University of Oslo - Norway |
| Presented by: B. Gabriela Mundaca, Ragnar Frisch Centre for Economic Research |
| Discussant: Sergio Sanfilippo, |
| Los ingredientes del herding: Rentabilidad, Sentimiento del mercado y Propensión imitadora |
| By Natividad Blasco, Universidad de Zaragoza Pilar Corredor, Universidad Pública de Navarra Sandra Ferreruela, Universidad de Zaragoza |
| Presented by: Sandra Ferreruela, Universidad de Zaragoza |
| Discussant: Juan Carlos Matallín-Sáez, Universitat Jaume I |
| The impact of financial position on investment: an analysis for non-financial corporations in the euro area |
| By Carmen Martinez-Carrascal (Banco de España) Annalisa Ferrando (European Central Bank) |
| Presented by: Carmen Martinez-Carrascal, Banco de Espana |
| Discussant: ISABEL FEITO RUIZ, UNIVERSIDAD DE OVIEDO |
Session 26: V3: Energy Markets |
|---|
| Session Chair: Gregorio Serna, Universidad de Castilla La Mancha |
| Date: November 14, 2008 |
| Time: 17:00 - 18:30 |
| ANÁLISIS DEL ENFOQUE LEAST – SQUARES MONTE CARLO EN LA VALORACIÓN DE CONTRATOS SOBRE ALMACENAMIENTO DE GAS NATURAL |
| By Manuel Moreno, Universidad de Castilla-La Mancha Pablo Villaplana, Comisión Nacional de la Energía Rafael Vivó-García, Universitat de Valencia |
| Presented by: Manuel Moreno, University of Castilla-La Mancha |
| Discussant: Isabel Figuerola-Ferretti, Universidad Carlos III de Madrid |
| The impact of oil prices on international financial markets |
| By Dawid Brychcy IDEA Departamento de Economia y de Historia Economica Universitat Autonoma de Barcelona Barcelona, Spain |
| Presented by: Dawid Brychcy, International Doctorate In Economic Anal |
| Discussant: Roberto Bermejo, Ahorro Corporación |
| Crude Oil and Refined Products. A Common Long-Term Trend |
| By Andres Garcia Mirantes, IES Juan del Enzina - Leon Javier Poblacin, Banco de España Gregorio Serna, Universidad de Castilla La Mancha |
| Presented by: Gregorio Serna, Universidad de Castilla La Mancha |
| Discussant: Luis María Abadie, Bilbao Bizkaia Kutxa |
Session 27: V3: Macro Finance |
|---|
| Session Chair: Alfonso Novales Cinca, Universidad Complutense |
| Date: November 14, 2008 |
| Time: 17:00 - 18:30 |
| The Dispersion Effect in International Stock Returns |
| By Markus Leippold Imperial College London Harald Lohre Union Investment |
| Presented by: Harald Lohre, Union Investment |
| Discussant: Lucía Cuadro-Sáez, |
| Relative Factor Endowments and International Portfolio Choice |
| By Alejandro Cunat (University of Essex, CEP, CEPR) Christian Fons-Rosen (London School of Economics) |
| Presented by: Christian Fons-Rosen, London School of Economics |
| Discussant: Alfonso Novales Cinca, Universidad Complutense |
| AUTOMATIC BALANCE MECHANISMS IN PAY-AS-YOU-GO PENSION SYSTEMS |
| By CARLOS VIDAL MELIA, UNIVERSIDAD DE VALENCIA MARÍA DEL CARMEN BOADO-PENAS, UNIVERSIDAD DE VALENCIA OLE SETTERGREN, SWEDISH SOCIAL INSURANCE AGENCY |
| Presented by: Maria del Carmen Boado Penas, |
| Discussant: maria mazzuca, university of calabria |
This program was last updated on 2008-11-12 6:26:56 EDT