New Developments in Long-Term Asset Management Conference
Organized by Monika Piazzesi and Luis M. Viceira
Supported by Norges Bank Investment Management
May 19-20, 2016
1050 Mass. Ave.

Thursday, May 19

2:30 pm

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

Assaf Hamdani, The Hebrew University of Jerusalem
Eugene Kandel, Hebrew University
Yevgeny Mugerman, Hebrew University
Yishay Yafeh, Hebrew University

3:45 pm

Asset Manager Funds

Joseph J. Gerakos, Dartmouth College
Juhani T. Linnainmaa, Dartmouth College and NBER
Adair Morse, University of California, Berkeley and NBER

4:45 pm

An Equilibrium Model of Institutional Demand and Asset Prices

Ralph Koijen, University of Chicago and NBER
Motohiro Yogo, Princeton University and NBER

Friday, May 20

8:30 am

Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism

Ian R. Appel, University of Virginia
Todd Gormley, Washington University in St Louis and NBER
Donald Keim, University of Pennsylvania

9:45 am

Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds

Oleg Chuprinin, UNSW Australia Business School
Denis Sosyura, Arizona State University

11:00 am

Volatility Managed Portfolios

Alan Moreira, University of Rochester and NBER
Tyler Muir, University of California, Los Angeles and NBER

1:15 pm

Risk and Return in Segmented Markets with Expertise

Andrea L. Eisfeldt, University of California, Los Angeles and NBER
Hanno Lustig, Stanford University and NBER
Lei Zhang, The University of Hong Kong (HKU)

2:30 pm

Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry

Nathan Foley-Fisher, Federal Reserve Board of Governors
Borghan Narajabad, Federal Reserve Board of Governors
Stephane Verani, Federal Reserve Board of Governors

3:45 pm

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

Sergey Chernenko, Purdue University
Adi Sunderam, Harvard University and NBER