Firms, Markets and Value cluster workshop - May 18-19, 2016

The 1st FMV Cluster Workshop brought together various members of the Cluster to beautiful Torquay, for two days of intense research discussion and collaboration.

We are pleased to announce that the Best Paper Award reserved to our early-career colleagues was given to Lora Dimitrova for her paper “Does Financial Innovation Enhance or Inhibit Real Innovation?”. Congratulations, Lora!

The programme

Wednesday, May 18

Opening Session
11.00 – 12.30 Sharing our research interests and projects
12.30 – 13.40 Lunch

Session I – Markets and Pricing
Chair: Gilad Livne

13.40 – 14.20 “Substitution Effect and Lottery Demand” (co-authored with I. Filippou and F. Zapatero)
Presenter: Pedro Angel Garcia Ares
Discussant: Rajesh Tharyan

14.20 – 15.00 “Credit Risk Analysis with Creditor’s Option to Extend Maturities” (with R. Ikeda)
Presenter: Yoske Igarashi
Discussant: Julian Neira

15.00 – 15.20 Coffee break

Session II – R&D and innovation
Chair: Rajesh Tharyan

15.20 – 16.00 “Competition, Duplication and Learning in R&D: an Analysis with Two-Armed Bandits”
Presenter: Kaustav Das
Discussant: Panos Couzoff

16.00 – 16.40 “Does Financial Innovation Enhance or Inhibit Real Innovation” (co-authored with S. Eswar)
Presenter: Lora Dimitrova
Discussant: Kevin McMeeking

16.40 – 17.00 Coffee break

Session III – Investment decisions and financial intermediation
Chair: Kevin McMeeking

17.00 – 17.40 “Voluntary Adoption of IFRS by UK Unlisted Firms and Investment Decisions at the Firm- and Group- Level” (co-authored with P. Andre)
Presenter: Fani Kalogirou
Discussant: Mari Paananen

17.40 – 18.20 “Securitization with Financial Distress: the Impact on Corporate Borrowers” (co-authored with A. Gallo)
Presenter: Min Park
Discussant: Grzegorz Trojanowski

19.30 Dinner at the hotel and Best Paper Award

Thursday, May 19

08.00-09.00 Breakfast

Session IV – Risk management, governance and disclosure
Chair: Mari Paananen

9.00 – 9.40 “No Pressure No Diamonds: the Role of Shareholder Activism on CSR Transparency”(co-authored with M. Rodrigue and E. Trevisan)
Presenter: Giovanna Michelon
Discussant: Maria Tsipouridou

9.40 – 10.20 “Environmental and Social Disclosures and Firm Financial Risk” (co-authored with M. Benlemlih, A. Shaukat, and Y. Qiu)
Presenter: Grzegorz Trojanoswki
Discussant: Giovanna Michelon

10.20 – 10.40 Coffee

10.40 -11.20 “The Value of Integrated Corporate Risk Management” (co-authored with A. Isin, and S. Gyoshev)
Presenter: Kevin McMeeking
Discussant: Gilad Livne

Closing Session
11.20 – 11.40 Partnership team (Randolph Gratton & Christine Gifford)
11.40 – 13.00 Wrapping-up and looking forward: challenges, risks and opportunities
13.00 – 14.00 Lunch and return