Conference Agenda

Program and access to virtual conference

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Only Sessions at Location/Venue 
Session Overview
Location: Stream 07
Date: Thursday, 26/Aug/2021
1:30pm - 3:00pmCL 01: Real effects of climate change
Location: Stream 07
Session Chair: Marcin Kacperczyk, Imperial College London
Stream 07 
ID: 365

Corporate Finance and Green Growth

Ralph De Haas1,2,3, Alexander Popov4

1European Bank for Reconstruction and Development, United Kingdom; 2Tilburg University; 3CEPR; 4European Central Bank

Discussant: Philipp Krueger (University of Geneva & Swiss Finance Institute)

365-CL-EFA2021-Corporate Finance and Green Growth.pdf

ID: 424

The rising tide lifts some interest rates: climate change, natural disasters, and loan pricing

Ricardo Correa1, Ai He2, Christoph Herpfer3, Ugur Lel4

1Federal Reserve Board, Division of International Finance; 2University of South Carolina, Darla Moore School of Business; 3Emory University, Goizueta Business School; 4University of Georgia, Terry College of Business

Discussant: Steven Ongena (University of Zurich)

424-CL-EFA2021-The rising tide lifts some interest rates.pdf

ID: 801

Do banks fuel climate change?

Yener Altunbas2, David Marques-Ibanez1, Alessio Reghezza2, Costanza Rodriguez d’Acri1, Martina Spaggiari1

1European Central Bank, Germany; 2Bangor Business School, UK

Discussant: Jose-Luis Peydro (Imperial College London)

801-CL-EFA2021-Do banks fuel climate change.pdf
3:30pm - 5:00pmCFT 02: External Financial Transactions
Location: Stream 07
Session Chair: Uday Rajan, University of Michigan
Stream 07 
ID: 1144

Security Design in Non-Exclusive Markets with Asymmetric Information

Victoria Vanasco, Vladimir Asriyan

CREI, UPF and Barcelona GSE, Spain

Discussant: Andrea Attar (Toulouse School of Economics)

1144-CFT-EFA2021-Security Design in Non-Exclusive Markets with Asymmetric Information.pdf

ID: 366

Pivots and Prestige: Venture Capital Contracts with Experimentation

Martin Szydlowski1, Xuelin Li2

1University of Minnesota, United States of America; 2University of South Carolina

Discussant: Rich Mathews (University of Maryland)

366-CFT-EFA2021-Pivots and Prestige.pdf

ID: 348

Due Diligence

Brendan Daley3, Thomas Geelen1,2, Brett Green4

1Copenhagen Business School, Denmark; 2Danish Finance Institute; 3Johns Hopkins University; 4Olin Business School, Washington University in St. Louis

Discussant: Simon Mayer (Erasmus University Rotterdam)

348-CFT-EFA2021-Due Diligence.pdf
5:30pm - 7:00pmCL 02: The Effects of Climate Disclosure
Location: Stream 07
Session Chair: Caroline Flammer, Boston University
Stream 07 
ID: 744

Showing off cleaner hands: mandatory climate-related disclosure by financial institutions and the financing of fossil energy

Jean-Stéphane Mésonnier, Benoit Nguyen

Banque de France, France

Discussant: Olivier David Zerbib (Boston University (per Sep. 2021), ISFA, CREST)

744-CL-EFA2021-Showing off cleaner hands.pdf

ID: 1478

Signaling through Carbon Disclosure

Patrick Bolton1,2, Marcin Kacperczyk1

1Imperial College London, United Kingdom; 2Columbia University, United States

Discussant: Thomas Lyon (University of Michigan)

1478-CL-EFA2021-Signaling through Carbon Disclosure.pdf

ID: 1615

Climate Risk Disclosure and Institutional Investors

Emirhan Ilhan1, Philipp Krueger2, Zacharias Sautner1, Laura Starks3

1Frankfurt School of Finance and Management, Germany; 2University of Geneva; 3UT Austin

Discussant: Alexander Dyck (University of Toronto)

1615-CL-EFA2021-Climate Risk Disclosure and Institutional Investors.pdf
Date: Friday, 27/Aug/2021
1:30pm - 3:00pmBIS: Green Finance
Location: Stream 07
Session Chair: Boris Hofmann, Bank for International Settlements
Stream 07 
ID: 945

On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices

Itay Goldstein1, Alexandr Kopytov2, Lin Shen3, Haotian Xiang4

1University of Pennsylvania and NBER; 2University of Hong Kong; 3INSEAD; 4Peking University

Discussant: Cyril Monnet (University of Bern)

945-CL-EFA2021-On ESG Investing.pdf

ID: 1490

The Determinants of ESG Ratings: Rater Ownership Matters

Dragon Tang1, Jiali Yan2, Chelsea Yao3

1The University of Hong Kong, Hong Kong S.A.R. (China); 2The University of Liverpool; 3Lancaster University Management School

Discussant: Julian Kölbel (University of Zurich)

1490-CL-EFA2021-The Determinants of ESG Ratings.pdf

ID: 1941

Green Asset Pricing

Ghassane Benmir1, Ivan Jaccard2, Gauthier Vermandel3

1London School of Economics; 2European Central Bank; 3Paris-Dauphine, PSL

Discussant: Flora Budianto (Bank for International Settlements)

1941-CL-EFA2021-Green Asset Pricing.pdf
3:30pm - 5:00pmCFT 03: Organizing Groups
Location: Stream 07
Session Chair: William Fuchs, University of Texas at Austin
Stream 07 
ID: 2078

Private Compensation and Organizational Design

Andrea Buffa1, Qing Liu2, Lucy White3

1University of Colorado Boulder; 2City University of Hong Kong; 3Boston University

Discussant: Jangwoo Lee (Chinese University of Hong Kong)

2078-CFT-EFA2021-Private Compensation and Organizational Design.pdf

ID: 114

Uncertainty and Contracting in Organizations

David Dicks2, Paolo Fulghieri1

1University of North Carolina Chapel Hill, United States of America; 2Baylor University

Discussant: Felipe Varas (Duke University)

114-CFT-EFA2021-Uncertainty and Contracting in Organizations.pdf

ID: 444

Corporate governance in the presence of active and passive delegated investment

Adrian Aycan Corum2, Andrey Malenko1, Nadya Malenko1

1University of Michigan, United States of America; 2Cornell University, United States of America

Discussant: Aydogan Alti (University of Texas at Austin)

444-CFT-EFA2021-Corporate governance in the presence of active and passive delegated investment.pdf
5:30pm - 7:00pmCFT 04: Market Power
Location: Stream 07
Session Chair: Martin Schmalz, Oxford University
Stream 07 
ID: 1237

Ownership and Competition

Alessio Piccolo, Jan Schneemeier

Indiana University, Kelley School of Business

Discussant: Bruno Pellegrino (University of Maryland)

1237-CFT-EFA2021-Ownership and Competition.pdf

ID: 1994

Rents and Intangibles: a Q+ framework

Nicolas Crouzet, Janice Eberly

Northwestern University, United States of America

Discussant: David Baqaee (UCLA)

1994-CFT-EFA2021-Rents and Intangibles.pdf

ID: 1207

Shelving or developing? The acquisition of potential competitors under financial constraints

Chiara Fumagalli1, Massimo Motta2, Emanuele Tarantino3

1Bocconi University, Italy; 2Universitat Pompeu Fabra, Barcelona (Spain); 3LUISS, Italy

Discussant: Paul Eliason (BYU)

1207-CFT-EFA2021-Shelving or developing The acquisition of potential competitors under financial constraints.pdf

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