Authors, please upload your paper here.


SI 2015 Risks of Financial Institutions

Mark Carey and Ren. Stulz, Organizers

July 7-8, 2015

Ballroom A
Royal Sonesta Hotel
40 Edwin H. Land Blvd.
Cambridge, MA



Tuesday, July 7

Joint session with Corporate Finance in the afternoon

1:00 pm

Viral V. Acharya, New York University and NBER
Tim Eisert, Erasmus University Rotterdam
Christian Eufinger, IESE Business School
Christian Hirsch, Goethe-University Frankfurt
Real Effects of the Sovereign Debt Crisis in Europe: Evidence from Syndicated Loans

Discussant: Heitor Alemeida, University of Illinois at Urbana-Champaign and NBER

1:50 pm

Antonio Falato, Federal Reserve Board

David Scharfstein, Harvard University and NBER

The Stock Market and Bank Risk-Taking

Discussants: Matt Baron, Cornell University

2:40 pm


3:10 pm

Bo Becker, Stockholm School of Economics
Marieke Bos, SIFR, Stockholm School of Economics
Kasper Roszbach, Sveriges Riksbank
Bad Times, Good Credit

Andrew Hertzberg, Columbia University

4:00 pm

Douglas W. Diamond, University of Chicago and NBER
Yunzhi Hu, University of Chicago
Raghuram Rajan, University of Chicago and NBER
Pledgeability, Industry Liquidity, and Financing Cycles

Martin Oehmke, Columbia University

4:40 pm


Wednesday, July 08

8:00 am

Coffee and pastries

8:30 am

Stefan Avdjiev, Bank for International Settlements
Patrick Bolton, Columbia University and NBER
Wei Jiang, Columbia University
Anastasia Kartasheva, Bank for international Settlements
Bilyana Bogdanova, Bank for International Settlements
CoCo Issuance and Bank Funding Costs

Discussant: Mark Flannery, Securities and Exchange Commission

9:25 am

Taylor Begley, London Business School
Amiyatosh Purnanandam, University of Michigan
Kuncheng Zheng, University of Michigan
The Strategic Under-Reporting of Bank Risk

Discussant: Sean Campbell, Federal Reserve Board

10:20 am


10:45 am

Guillaume Plantin, Toulouse School of Economics
Jean Tirole, Toulouse School of Economics
Marking to Market versus Taking to Market

Discussant: Christian Leuz, University of Chicago and NBER

11:40 am

Panel on Risk Management after the Crisis and Research Issues
Richard Berner, Department of the Treasury

Aaron Brown, AQR Capital Management, LLC
Andrew Kuritzkes, State Street Corporation

12:30 pm


1:20 pm

Itay Goldstein, University of Pennsylvania
Hao Jiang, University of Texas at Austin
David Ng, Cornell University
Investor Flows and Fragility in Corporate Bond Funds

Discussant: Kenneth R. French, Dartmouth College and NBER

2:15 pm

Itzhak Ben-David, Ohio State University and NBER
Francesco Franzoni, Swiss Finance Institute
Rabih Moussawi, University of Pennsylvania
John Sedunov, Villanova University
The Granular Nature of Large Institutional Investors

Discussant: Kent D. Daniel, Columbia University and NBER

3:10 pm


3:30 pm

Johan Walden, University of California at Berkeley
Richard Stanton, University of California at Berkeley
Nancy Wallace, University of California at Berkeley
Securitization Networks and Endogenous Financial Norms in U.S. Mortgage Markets

Discussant: Daron Acemoglu, Massachusetts Institute of Technology and NBER

4:25 pm

Christian Brownlees, Pompeu Fabra
Benjamin Chabot, Federal Reserve Bank of Chicago
Eric Ghysels, University of North Carolina-Chapel Hill
Christopher Kurz, Federal Reserve Board
Back to the Future - Backtesting Systemic Risk Measures During the Great Depression and Historical Bank Runs

Discussant: Francis X. Diebold, University of Pennsylvania and NBER

5:20 pm


6:00 pm

Clambake, Royal Sonesta Hotel