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University of Gothenburg

Research seminars

Research seminars primarily addresses the finance research community at the School of Business, Economics and Law. Invited speakers are external finance researchers.

Doron Sonsino (Ben-Gurion University)
"The willingness to accommodate small losses for worthy structured gains - experimental evidence"
Day: February 21

Bernd Schwaab (ECB)
"Risk endogeneity at the lender/investor-of-last-resort"
Day: March 7
Read paper

Joel Hasbrouck (NYU)
"Price discovery in high resolution"
Day: March 21
Read paper

Carsten Sörensen (CBS)
"title to be decided"
Day: April 4

Noah Lim (NUS)
"Examining Salesperson Effort Allocation in Teams: A Randomized Field Experiment"
Day: April 11
Read paper

Thomas Noe (Oxford University)
"Ownership Structure, Reputation Crises and Recovery: Theory and Experiment"
Day: May 2
Read paper

Daniel Paravasini (LSE)
“Deposit Withdrawals”
Day: September 19
Read paper

Ming Zeng (CFF)
"Equilibrium Trend and Cycles in Equity and Bond Yields"
Day: September 26

Julien Penasse (Luxembourg)
"Understanding Alpha Decay"
Day: October 3
Read paper

Dawei Fang (CFF)
"Does the cream rise to the top? Luck, talent, success, and merit"
Day: October 10
Read paper

Guofo Zhou (Washington U in St Louis)
"Factor Models: Limitations and Extensions"
Day: October 17
Read paper 1 and 2

Eric Renault (University of Warwick)
"Identification-Robust Inference for Risk Prices in Structural Stochastic Volatility Models"
Day: November 7

Pawel Gola (BI Norwegian Business School)
"On the Importance of Social Status for Labour Markets"
Day: November 14
Read paper

Andras Fulop (ESSEC)
"Real-Time Macro Information and Bond Return Predictability: Does Deep Learning Help?"
Day: November 21

Magnus Dahlquist (SSE)
"Hedge Funds and Financial Intermediariest"
Day: November 28
Read paper

Pete Kyle (Maryland)
"Dimensional Analysis, Leverage Neutrality, and Market Microstructure Invariance"
March 1

Darya Yuferova (NHH Bergen)
"Intraday Return Predictability, Informed Limit Orders, and Algorithmic Trading"
March 8
Read paper

Egle Karmaziene (Groningen)
"Incentives of Financial Analysts: Trading Turnover and Compensation"
March 22
Read paper

Angelo Ranaldo (St Gallen)
"OTC Premia"
April 12

Björn Hagströmer (Stockholm University)
"A Network Map of Information Percolation"
April 19
Read paper

Jörg Rocholl (ESMT Berlin)
"The Cleansing Effect of Banking Crises"
April 26
Read paper

Stefan Pitschner (Uppsala)
"Shortages in Corporate Liquidity During Crises and Normal Times: Evidence From Corporate Filings"
May 3
Read paper

Evangelos Benos (Bank of England)
"Centralized Trading, Transparency and Interest Rate Swap Market Liquidity: Evidence from the Implementation of the Dodd-Frank Act"
May 17

Edward Altman (NYU)
"Credit Cycle Outlook and the Altman Z-Score Models After 50 Years"
Browaldh lecture
May 31

Youngju Nielsen (Sungkyunkwan University)
"The Value of Due Diligence: The Case for Passive Hedge Fund of Funds"
September 27
LinkedIn

Kasper Roszbach (Norges Bank)
"Collateral Damaged? Priority Structure, Credit Supply, and Firm Performance"
October 4

Jens Josephson (SBS Stockholm University)
"Credit Ratings and Structured Finance"
October 18

Igor Letina (Bern)
"Designing Dynamic Research Contest"
October 25
Read paper

Matthew Ringgenberg (Utah)
"Passive Investors and Passive Monitors"
November 8
Read paper

Julia Schaumburg (VU Amsterdam)
"Do information contagion and business model similarities explain bank credit risk commonalities?"
November 22
Read paper

Xin Zhang (Riksbanken)
"Score-driven tail shape, with application to bond yields at a high frequency"
November 29

Andrea Vedolin (Boston University)
"Central Bank Communication and the Yield Curve"
December 13
Read paper

Jieying Li (SSE)
"Title to be set"
Date: Jan 12, 2017

Taylan Mavruk (CFF)
"Printed news is the old news:
The role of local media in local trading activity and local stock returns"
Date: January 26, 2017

Håkan Jankensgård (Lund)
"Do Hedging Cash Flows Really Increase Corporate Investment?"
Date: Feb 23, 2017
Read paper

Irina Zviadadze (SSE)
"Term structure of risk in macrofinance models"
Date: March 16, 2017

Dagfinn Rime (BI)
"Segmented Money Markets and Covered Interest Parity Arbitrage"
Date: March 23, 2017

Moqi Xu (LSE)
"Free-riders and Underdogs: Participation in Corporate Votin"
Date: April 27, 2017

Ingrid Werner (Ohio State)
"Trading Fees and Intermarket Competition"
Date: May 3, 2017 Wednesday!
Link to paper

Christian Wagner (CBS)
"Margin requirements and equity option returns"
Date: May 11, 2017

Indraneel Chakraborty (University of Miami)
"Monetary Stimulus and Bank Lending"
Date: May 18, 2017
Link to paper

Juhani Linnainmaa (USC Marshall)
"Informed traders, long-dated options, and the cross-section of stock returns"
Date: June 8, 2017

Masao Ogaki (Keio University, Japan)
"Education and Pro-Family Altruistic Discrimination Against Foreigners: Five-Country Comparison"
Date: September 14, 2017
Read Paper

Russel Wermers (University of Maryland)
"Costly Information Production, Information Intensity, and Mutual Fund Performance"
Date: September 28, 2017
Read paper

Torben Andersen (Northwestern University)
"Title TBD"
Date: October 5, 2017

Jon Faust (Neubergh Lecture)
"The Role of Macroeconomic Policy Analysis in the Great Inflation, Great Moderation and Great Recession"
Date: October 12, 2017

Iñaki Rodriguez Longarela (Stockholm University)
"Zooming in and out: Are we capturing the whole picture when we
measure arbitrage in currency markets?"

Date: October 19, 2017

Peiran Jiao (Maastricht)
"Payoff-Based Belief Distortion"
Date: October 26, 2017
Read paper

Anders Anderson (SHoF)
"Self-Awareness, Financial Advice and Retirement Savings Decisions"
Date: November 30, 2017
Read paper

Philipp Strack (UC Berkeley)
"Unrealistic Expectations and Misguided Learning"
Date: December 14, 2017
Read paper

Sanjay Banerji, University of Nottingham
“Collusion, Incentives and Reputation: The role of Experts in Corporate Governance”
Date: January 21

Michel Habib, Zurich
"Multifaceted Transactions, Incentives, and Organizational Form"
Date: February 11

Ashok Thampy, IIMB
"The Effect of Relationships with Government-Owned Banks on Credit Constraints: Evidence from India"
Date: March 17

Konrad Raff, NHH
"Learning from Other Firms’ Investments: Corporate Governance and Firm Entry"
Date: April 7

Utz Weitzel, Radboud University Nijmegen
"Sold below value? Why takeover offers can have negative premiums"
Date: April 14

Gunther Strobl, Frankfurt School of Finance & Management
"The Effect of Speculative Monitoring on Shareholder Activism"
Date: April 21

Ryan Peters, Wharton
"Venture Capital investment relationships"
Date: Monday May 2 Note day!

Kathrin Schlafmann, IIES
"Housing, Mortgages, and Self Control"
Date: May 12

Janis Berzins, BI
"Title to be decided"
Date: May 19

Denis Sosyura, University of Michigan
"Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds"
Date: September 1

Sangin Park, Seoul National University
"Ownership Structure and Foreign Shareholdings: Evidence from Korea"
Date: September 15

Read paper

Gonul Colak (Hanken School of Economics)
"CEO Mobility and Corporate Policy Risk"
Date: September 29

Read paper

Sami Vahamaa (Vaasa University)
"Evaluating Publications across Business Disciplines: Inferring Interdisciplinary “Exchange Rates” from Intradisciplinary Author Rankings"
Date: October 13

Bart Yueshen (Insead)
"Uncertain Market Making"
Date: Nov 24, 2016

Eirik Gaard Kristiansen (NHH)
"Competitive Compensation Contracts"
Date: Dec 1, 2016
Place: F45, School of Business, Economics and Law

"Are American options European after all?"
Sören Christensen, GU/Chalmers Mathematics
December 10

"Managerial entrenchment and matching leverage preferences"
Timo Korkeamaki, Hanken School of Economics
November 26

We study the effect of managerial entrenchment on CEOs' tendency to imprint their personal leverage preferences upon the firms they manage. Using a unique data source that allows us to measure personal wealth and indebtedness in great detail, we find a connection between CEOs' personal leverage and that of their firms. Our results indicate that the connection is driven by the CEOs who have a longer tenure with the firm and the CEOs who also serve in a dual role. The connection is significantly weaker for those CEOs who have a proportion of their personal wealth tied to the firm.

"Creditor Control Rights and Board Independence"
Daniel Ferreira, London School of Economics
November 19

Neubergh Lecture: "Greece, the Eurozone and the European Central Bank's monetary policy"
Mats Persson, Stockholm University
November 4

"Game intelligence and statistics in team sports – a game theoretic approach"
Carl Lindberg, AP2 and Chalmers
October 22

We set up a game theoretic framework to analyze a wide range of situations from team sports. A fundamental idea is the concept of potential; the probability of the offense scoring the next goal minus the probability that the next goal is made by the defense. We develop categorical as well as continuous models, and obtain optimal strategies for both offense and defense. A main result is that the optimal defensive strategy is to minimize the maximum potential of all offensive strategies.

"Back-Running: Seeking and Hiding Fundamental Information in Order Flows"
Liyan Yang, University of Toronto
October 15

"Competition in the Cryptocurrency Market"
Hanna Hałaburda, Bank of Canada
October 8

"The Mutual fund Fee Puzzle"
Michael Halling, Stockholm School of Economics
October 1

"Suppliers, Investors, and Equity Market Liberalizations"
Martin Strieborny, Lund University
September 24

"Relative Pay for Non-Relative Performance: Keeping up with the Joneses with Optimal Contracts"
Ron Kaniel, University of Rochester and Visiting Professor HGU
September 17

"Non-bank Loan Investors and Borrowers' Renegotiation Prospects"
Teodora Paligorova, Bank of Canada
September 11

"Shaped by Their Daughters: Executives, Female Socialization, and Corporate Social Responsibility"
Henrik Cronqvist, China Europe International Business School (CEIBS)
May 27

Henrik has a PhD from University of Chicago and has previously been professor at Claremont McKenna College and a faculty member at Ohio State University. He has published in e.g. American Economic Review, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.

"Ownership Determinants of Stock Return Volatility"
Anders Vilhelmsson, Lund University
May 21

"Bank Information Sharing and Liquidity Risk"
Kebin Ma, University of Warwick
May 7

"Solving Models with Disappointment Aversion"
Romeo Tedongap, Stockholm School of Economics
April 23

"Institutional Quality, Trust and Stock-Market Participation: Learning to Forget"
Frederik Lundtofte, Lund University
March 26

"Revealed preferences over risk and uncertainty"
John Quah, Oxford University
March 19

"Star sell-side analysts listed by Institutional Investor, Wall Street Journal and StarMine. Whose recommendations are most profitable?"
Yury Kucheev, KTH
March 5

"How Individuals React to Defined Benefit Pension Risk"
Nicolas Salamanca Acosta, Melbourne Institute of Applied Economic and Social Research
January 29

In this paper we develop a measure of (hybrid) defined benefit (DB) pension risk and show how this pension risk relates to individual portfolio and retirement decisions. We find that people in riskier DB plans are, on average, not only less likely to hold equity but also hold a smaller share of their wealth in equity. This relation is stronger for people who are better informed about their pension plan risk, and for retirees. We do not find that pension risk is related to the intended age of retirement. We provide extensive evidence supporting the identification and robustness of our results, and their interpretation as a behavioral response of people to pension risk. Our findings show that a well-funded DB pension system can improve the welfare of its participants in previously unexplored ways.

Prof. Thomas Noe, University of Oxford
"Blood and Money: Kin altruism, governance, and inheritance in the family firm"
January 17

Pär Österholm, Konjunkturinstitutet
"Effects of US Policy Uncertainty on Swedish GDP Growth"
January 24

Erik Wengström, Lunds universitet
"Risking Other People’s Money: Experimental Evidence on Bonus Schemes, Competition, and Altruism"
March 21

Darren Duxbury, Newcastle University
"The Role of Emotion in Financial Decisions"
March 28

Fall 2014
Linus Siming, Bocconi University
"Knighthoods, Damehoods and CEO Behaviour"
September 4

David Robinsson, Duke
"Optimism, Financial Literacy and Participation"
September 18

Bo Becker, SSE
“Regulatory reform and risk-taking: replacing ratings"
September 25

David Smith, Virginia
"Creditor Conflict and the Efficiency of Corporate Reorganization"
October 2

Adam Farago, CFF
“Asset pricing and portfolio choice implications of disappointment aversion”
October 9

Naoaki Minamihashi, CFF
"How Would Hedge Fund Regulation Affect Investor Behavior? Implications for Systemic Risk"
October 16

Jungsuk Han, SSE
“An Information-based Theory of Financial Fire Sales”
October 30

Ulrich Hege, HEC
"Extending Comparative Advantage Through Cross-Border Acquisitions"
November 13

Taylan Mavruk, CFF/IFEL
“Do SEC’s 10b5-1 Safe Harbor Rules Need to Be Rewritten?”
December 4

Xunhua Su, Norwegian University of Science and Technology
“Product Market Predatory Threats and Contractual Constraints of Debt”
March 15

Gerrit Antonides, Wageningen University, The Netherlands
"Mental-budgeting effects on tax compliance of Dutch self-employed people"
April 26

Juha-Pekka Kallunki, University of Oulu
"Do White Collar Employee Incentives Improve Firm Performance?"
October 4

Anders Johansson, Stockholm School of Economics
October 11

Lars Hassel, Umeå Universitet
"The Association between ESG and Stock Returns – The Alpha Puzzle"
February 3

Nhan Le, University of Colorado
"Do Large Cash Holdings Help or Hinder Firm Performance Recovery?"
February 10

Evert Carlsson, CFF
"Household Finance"
March 2

Martin Weber, University of Mannheim
"Does skewness matter? Evidence from experimental asset martkets"
March 9

Oege Dijk, CFF
"Charity, Incentives and Performance"
April 20

Andreas Stephan, Jönköping International Business School
"The Impact of Private Equity on Firm Performance: Evidence from Sweden"
April 27

Einar Bakke, CFF
"Cold" IPOs or hidden gems? On the medium-run performance of IPOs" May 11

Ettore Croci, Università Callolica, Milan
"The Corporate Governance Endgame –
An Economic Analysis of Minority Squeeze-out Regulation in Germany"

November 30

Rob Ranyard, Faculty of Well-being and Social Sciences, University of Bolton
"Personal borrowing and repayment decisions: Mental accounting, future orientation and anchoring effects"
December 6

Salvatore Miglietta, BI Norwegian Business School
September 2

Steen Thomsen, Copenhagen Business School
September 16

Mike Burkart, Stockholm School of Economics
September 30

Fred van Raaij, Tilburg University
October 7

John Knopf, University of Connecticut
November 11

Nigel Harvey, University College London
November 25

Ron Kaniel, Duke University
December 16