Workshop

Matt Elliot (Cambridge Economics) Title: Market Segmentation Through Information Abstract: An information designer has information about consumers’ preferences over products sold by oligopolists and chooses what information to reveal to firms who, then, compete on price by making personalized offers. We study the market...

Ru Xie (University of Bath) Title: Research Unbundling and Market Liquidity: Evidence from MiFID II Abstract: The second Markets in Financial Instruments Directive (MiFID II) mandated the unbundling of payments for research and trading. This research explores whether the impact of MiFID II differs between large and small...

Usha Rodrigues (University of Georgia) Title: Why SPACs: An Apologia Abstract: Special purpose acquisition companies (SPACs) dominated the initial public offering (IPO) market in recent years, but the Securities and Exchange Commission (SEC) has proposed rules that have chilled the SPAC market and, if made final, will...

Avanidhar (Subra) Subrahmanyam (UCLA Anderson School of Management) Title: Momentum and Short-Term Reversals: Theory and Evidence Abstract: How might short-term reversals and longer-term momentum coexist within markets? To address this question, we develop a dynamic model with liquidity demands and informationprocessing...

Seok Young Hong (Lancaster University Management School) Title: Comparing factor models with conditioning information Abstract: We develop a framework to conduct asymptotically valid tests for comparing factor models with conditioning information. The tests are based on a metric analogous to the squared Sharpe ratio...

Constantine Yannelis (University of Chicago Booth School of Business) Title: Data and Welfare in Credit Markets Abstract: We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these...

Jawad M. Addoum (Cornell) Title: Temperature Shocks and Industry Earnings News Abstract: Climate scientists project a rise in both average temperatures and the frequency of temperature extremes. We study how extreme temperatures affect companies' earnings across different industries and whether sell-side analysts...

Lira Mota (Princeton) Title: The Corporate Supply of (Quasi) Safe Assets Abstract: Investors value safety services in financial assets, such as the ability to serve as a store of value, to serve as collateral, or to meet mandatory capital and liquidity requirements. I present a model in which investors value safety...

Mehrshad Motahari (Bayes Business School, City University of London) Title: Do Short Sellers Care about ESG? Abstract available soon

Dunhong Jin (Hong Kong University Business School) Title : Board Diversity and Rare Disasters Risk Insurance Abstract : About 37% of Chinese listed firms have medical expertise, as measured by the existence of senior executives with a medical degree or medical-industry experience. Using the COVID-19 outbreak in China as a...