Darden International Finance Conference

Darden IFC

IFC 2014

The Darden School of Business
in partnership with the
International Monetary Fund,World Bank, CFA Institute and Financial Analysts Journal
are pleased to announce their thirteenth annual conference:

Investing in International Markets
May 22 and 23, 2014
The Darden School of Business
Charlottesville, Virginia 

Conference attendance is open to invited guests only.

The 13th annual Darden International Finance Conference will be held at the University of Virginia’s Darden School of Business on May 22 and 23, 2014 in Classroom 270. We invite academic paper submissions for the conference that examine the decision to invest in international markets by corporations, institutional or retail investors. As in past years, we aim to bring together a mix of academics and practitioners.

The deadline for submitting a paper for consideration is Midnight, PST on NOVEMBER 19, 2013. All papers must be submitted electronicallyand the submission form can be found at the following link. Important information regarding the submission process and conference details can be found in the Call for Papers  document (pdf). The committee will review the submissions and notify candidates of acceptance in early February of 2014.

Conference Organizers:
Stijn Claessens
- Assistant Director/Division Chief International Monetary Fund
Campbell Harvey - J. Paul Sticht Professor of International Business at the Fuqua School of Business, Duke University
René Stulz - Everette D. Reese Chair of Banking and Monetary Economics, The Ohio State University
Richard Evans – Associate Professor of Business Administration, Darden School of Business, University of Virginia

     

Program Committee:

 

Darden/UVA Committee Members
Yiorgos Allayannis, Mike Gallmeyer, Marc Lipson, Elena Loutskina, Pedro Matos, Daniel Murphy, Michael Schill, Alan Taylor, Frank Warnock

External Committee Members
Sandro Andrade (Miami), Gregory Brown (UNC), Shawn Cole (HBS), Asli Demirguc-Kunt (World Bank), Mihir Desai (HBS), Alexander Dyck (Toronto), Vihang Errunza (McGill), Ben Esty (HBS), Todd Gormley (Wharton), John Griffin (Texas), Harald Hau (Swiss Finance Institute/University of Geneva), Philippe Jorion (UCI), Ralph Koijen (LBS), Luc Laeven (IMF), Christian Leuz (Chicago), Karl Lins (Utah), Christian Lundblad (UNC), Amiyatosh Purnanandam (Michigan), Tarun Ramadorai (Oxford), Sergio Schmukler (World Bank), Adrien Verdelhan (MIT)

 

Questions? Contact Karen Morris at MorrisK@darden.virginia.edu or 1.434.924.6486.

 

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IFC 2014 Conference Agenda

Investing in International Markets

Conference Agenda

May 22-23, 2014 

Thursday, May 22, 2014

8:00 – 8:45 am

Breakfast and Registration (Abbott Dining Room & Saunders)

8:45 – 9:00 am

Welcome Remarks (Classroom 270)

9:00 – 10:30 am

Session 1 - International Asset Pricing - Chair: Ric Colacito, UNC

Preferred Habitats and Safe Haven Effects: Evidence from the London Housing Market
Presented by Cristian Badarinza, Oxford

The Term Structure of Currency Carry Trade Risk Premia
Presented by Adrien Verdelhan, MIT

10:30 – 10:45 am

Refreshment Break

10:45 – 12:15 pm

Session 2 - International Corporate Governance (1) - Chair: Darius Miller, SMU

International Corporate Governance Spillovers: Evidence from Cross-Border Mergers and Acquisitions
Presented by Rui Albuquerque, Boston University

Differences in Agency Problems between Public and Private Firms: Evidence from Top Management Turnover
Presented by Ugur Lel, Virginia Tech 

12:15 - 2:00 pm

Lunch & Keynote Presentation from Cam Harvey, Duke

How much should we invest in emerging markets?

2:15 – 4:00 pm

Session 3 - Real Effects of Financial Structure - Chair: Karl Lins, Utah

Does Financial Structure Shape Industry Structure? Evidence from Timing of Bank Liberalization
Presented by Vikrant Vig, London Business School

Information Networks Within Business Groups: Evidence from India
Presented by Ankur Pareek, Rutgers

4:00 - 4:30

Practitioner Talk - Nicholas Sargen – Fort Washington Investment Advisors, Inc.

4:30 – 5:30 pm

Break

5:30 pm

Bus Departs for Pippin Hill Vineyards (meet at Saunders stairs)

6:00 – 7:00 pm

Reception

7:00 – 9:00 pm

Dinner

Friday, May 23, 2014

7:30 – 8:30 am

Breakfast (Abbott Dining Room)

8:30 – 10:00 am

Session 4 - Policy and Financing Decisions - Chair: Sergio Schmukler, World Bank

Debt Renegotiation and Investment Decisions Across Countries
Presented by Giovanni Favara, Federal Reserve Board

Banks, Government Bonds, and Default: What do the Data Say?
Presented by Stefano Rossi, Purdue

10:00 - 10:30 am Practitioner Talk - Rodolfo Martell - Director/Portfolio Manager Blackrock

10:30 – 10:45 am

Refreshment Break

10:45 – 12:15 pm

Session 5 - International Corporate Governance (2) - Chair: Alexander Dyck, U. Toronto

Incorporation in Offshore Financial Centers: Naughty or Nice?
Presented by Edith Liu, Cornell

Bribes and Firm Value
Presented by Stefan Zeume, INSEAD

12:15 - 12:30 pm Concluding Remarks 

12:30 – 1:30 pm

Lunch

IFC 2013 Conference Agenda

Managing in a Low-Growth World

Conference Agenda

April 4-5, 2013 

Thursday, April 4, 2013

7:30 – 8:30 am

Breakfast and Registration, Abbott Center

8:30 – 8:45 am

Welcome Remarks, Classroom 260

8:45 – 10:30 am

SESSION 1: FINANCING DURING CRISIS

Chair:Elena Loutskina (UVA)

Paper #1: Who Borrows from the Lender of Last Resort? Evidence from the European Financial Crisis

Presented by Itamar Drechsier (NYU Stern)
Co-Author: Thomas Drechsel (LSE), David Marques-Ibanex (ECB) Philipp Schnabl (NYU Stern, CEPR and NBER)

Paper #2: Bank Bailouts, Competition, and the Disparate Effects for Borrower and Depositor Welfare

Presented by Klaus Schaeck (Bangor Univ)
Co-Authors: Cesar Calderon(World Bank)

10:30 – 10:45 am

Refreshment Break, Outside Room 260

10:45 – 12:30 pm

SESSION 2: TRANSMISSIONS OF SHOCKS

Chair: Pedro Matos (UVA)

Paper #3: Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds

Presented by Sergey Chernenko OSU)
Co-Author: Adi Sunderam (HBS)

Paper #4: The Impact of Sovereign Debt Exposure on Bank Lending: Evidence from the European Dept Crisis

Presented by Neeltje van Horen (De Nederlandsche Bank)
Co-Author: Alexander Popov (European Central Bank)

12:30 - 2:15 pm

Lunch, Abbott Center

Keynote Speaker:Viral Acharya (NYU), - "Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance"

2:15 – 2:30 pm

Refreshment Break, Outside Room 260

2:30 - 4:00 pm

SESSION 3: FRICTIONS IN INTERNATIONAL ASSET PRICING

Chair:Michael Gallmeyer (UVA)

Paper #5: The Asset Pricing Implications of Government Economic Policy Uncertainty

Presented by Andrew Detzel (UW)
Co-Authors: Jonathan Brogaard (UW)

Paper #6: International Asset Allocation: The Benchmark Effect

Presented by Claudio Raddatz (World Bank) and Sergio L. Schmukler (World Bank)
Co-Author: Tomas Williams (World Bank)

4:00 – 5:30 pm

Break

5:30 pm

Bus Departs Darden Gatehouse for Pippin Hill Vineyards

6:00 – 7:00 pm

Reception, Pippin Hill Vineyards

7:00 – 9:00 pm

Dinner, Pippin Hill Vineyards

Friday, April 5, 2013

7:45 – 8:15 am

Breakfast, Abbott Center

8:15 – 10:30 am

Session 4: MEASURING RISK

Chair: Yiorgos Allayannis (UVA)

Paper #7: The Systemic Risk of European Banks during the Financial and Sovereign Debt Crises

Presented byXin Huang (Univ of Oklahoma)
Co-Author: Lamont Black (FRB), Richardo Correa (FRB), Hao Zhou (Tsinghua Univ)

Paper #8: Default prediction Around the World: International Evidence on the Role of Corporate Transparency and Market Frictions

Presented by Mark Maffett (Chicago Booth)
Co-Authors: Edward Owens (Simon School of Business, Univ of Rochester), Anand Srinivasan (National Univ of Singapore)

Paper #9: Bank ratings: What determines their quality?

Presented by Sam Langfield (European Sysemic Rick Board Secretariat and UK FSA)
Co-Authors: Harald Hau (Univ of Geneva, SFI, and CEPR), David Marques-Ibanez (ECB)

Practitioner Talk: Stijn Claessen (IMF), - "Shadow Banking, Economics and Policy"

10:30 – 10:45 am

Refreshment Break, Outside Room 260

10:45 – 12:15 pm

Session 5: THE ROLE OF THE FINANCIAL SECTOR

Chair: Mark Carey (FRB)

Paper #10: An International Look at the Growth of Modern Finance: Income and Human Capital Costs

Presented by Ariell Reshef (UVA)
Co-Authors: Thomas Philippon (NYU Stern, NBER and CEPR)

Paper #11: Real Volatilities and Financial Policies Around the World

Presented by Tanakorn Makaew (Univ of South Carolina)
Co-Authors: Vojislav Maksimovic (Univ of Maryland)

12:15 – 1:15 pm

Lunch, Abbott Center (optional)

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