Conference Agenda
Please note that all times are shown in the time zone of the conference. The current conference time is: 14th Dec 2025, 03:03:46pm CET
Conference App. You can download the EFA 2025 app with the full program from the App Store or Google Play.
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Session Overview |
| Date: Wednesday, 20/Aug/2025 | |
| 5:00pm - 8:30pm |
Registration Desk |
| 6:30pm - 9:00pm |
Welcome Reception |
| Date: Thursday, 21/Aug/2025 | |||||||||
| 8:30am - 5:30pm |
Registration Desk |
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| 9:00am - 10:30am |
AP 01: Asset Prices and Institutional Investors Location: 1.000 AMPHI II (Floor 1) Chair: Sumudu Watugala, Indiana University - Kelley School of Business |
AP 02: AI in Finance Location: 1.003-1.004 (Floor 1) Chair: Ruslan Sverchkov, Warwick Business School, University of Warwick Chair: Engin Iyidogan, SKEMA |
AP 03: Beliefs in Asset Pricing Location: 1.009-1.010 (Floor 1) Chair: Andrea Vedolin, Boston University |
CF 01: Corporate Governance: Shareholders and Directors Location: 2.002-2.003 (Floor 2) Chair: Muhammad Farooq Ahmad, SKEMA Business School |
CF 02: International Trade Frictions and Industrial Policy Location: 2.005-2.006 (Floor 2) Chair: Elena Simintzi, University of North Carolina Chapel Hill Chair: Teodor Dyakov, EDHEC |
FI 01: Learning in Credit Markets Location: 2.007-2.008 (Floor 2) Chair: Josef Zechner, WU Vienna University of Economics and Business |
FI 02: Financial Intermediation: Monetary Policy and GSEs Location: 2.010-2.011 (Floor 2) Chair: Alexander Michaelides, Imperial College London |
BdF: Challenges from climate change and nature Location: 3.000 (Floor 3) Chair: Jean-Stephane Mesonnier, Banque de France and Sciences Po |
HF 01: Household Choices Shaping Financial Markets Location: 3.216 (Floor 3) Chair: Wenlan Qian, National University of Singapore |
| 10:30am - 11:00am |
Coffee Break Location: Level 0, Level 1 and Level 3 |
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| 11:00am - 12:30pm |
DFA: Indexing, ETFs, and systematic risk Location: 1.000 AMPHI II (Floor 1) Chair: Mamdouh Medhat, Dimensional Fund Advisors |
AP 04: Recent Advances in Derivatives Location: 1.003-1.004 (Floor 1) Chair: Elise Gourier, ESSEC Business School |
AP 05: Uncertainty and Beliefs Location: 1.009-1.010 (Floor 1) Chair: Raman Uppal, EDHEC Business School |
CF 03: Corporate Governance: Values & Actions Location: 2.002-2.003 (Floor 2) Chair: Chiara De Amicis, SKEMA BUSINESS SCHOOL |
CF 04: Frictions in Corporate Finance Location: 2.005-2.006 (Floor 2) Chair: Catherine Casamatta, Toulouse School of Economics & Toulouse School of Management |
FI 03: Private Credit Location: 2.007-2.008 (Floor 2) Chair: Vasso Ioannidou, Bayes Business School (formerly Cass) |
FI 04: Financial Frictions and the Transmission of Monetary Shocks Location: 2.010-2.011 (Floor 2) Chair: Claire Celerier, University of Toronto |
SF 01: Biodiversity Finance Location: 3.000 (Floor 3) Chair: Boris Vallee, Harvard Business School |
HF 02: Household Finance and Wealth Accumulation Location: 3.216 (Floor 3) Chair: Kathrin Schlafmann, Copenhagen Business School |
| 12:30pm - 2:00pm |
Lunch Location: Level 0, Level 1 and Level 3 |
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| 2:00pm - 3:30pm |
AP 06: Delegated Portfolios Location: 1.000 AMPHI II (Floor 1) Chair: Veronika K. Pool, Vanderbilt University |
AP 07: Asset Pricing in a Noisy and Complex World Location: 1.003-1.004 (Floor 1) Chair: Daniel Andrei, McGill University |
AP 08: Analyst Belief Formation Location: 1.009-1.010 (Floor 1) Chair: Laurent Fresard, USI Lugano |
CF 05: CEO and Director Incentives Location: 2.002-2.003 (Floor 2) Chair: Per J Strömberg, Stockholm School of Economics |
FI 05: Developments in Financial Intermediation Location: 2.005-2.006 (Floor 2) Chair: Claudia Custodio, Imperial College Business School |
FI 06: Access to Finance Location: 2.007-2.008 (Floor 2) Chair: Thorsten Beck, European University Institute |
ECB: Challenges for monetary policy transmission through banks and non-banks: the role of investors and new financial technologies Location: 2.010-2.011 (Floor 2) Chair: Angela Maddaloni, European Central Bank Chair: Francesca Zucchi, European Central Bank |
MM 01: Dealer Markets under Stress Location: 3.000 (Floor 3) Chair: Sophie Moinas, Toulouse School of Economics |
HF 03: Personal Finance Location: 3.216 (Floor 3) Chair: Paolo Sodini, Stockholm School of Economics |
| 3:30pm - 4:00pm |
Coffee Break |
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| 4:00pm - 5:00pm |
Plenary panel: Finance and Climate Change Location: 1.200 AMPHI I (Floor 1) |
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| 7:30pm - 11:00pm |
Get Together: Paris River Cruise offered by CRSP |
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| Date: Friday, 22/Aug/2025 | |||||||||
| 8:30am - 6:00pm |
Registration Desk |
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| 9:00am - 10:30am |
AP 09: Bond Market Demand Location: 1.000 AMPHI II (Floor 1) Chair: Kristy Jansen, Marshall School of Business, University of Southern California |
AP 10: Networks and Macro in Asset Pricing Location: 1.003-1.004 (Floor 1) Chair: Jun Pan, Shanghai Advanced Institute of Finance Chair: Dong Yan, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University |
AP 11: Corporate Policies, Search, and Asset Prices Location: 1.009-1.010 (Floor 1) Chair: Frederico Belo, INSEAD |
CF 06: Firm Financing Location: 2.002-2.003 (Floor 2) Chair: Florencio Lopez-de-Silanes, SKEMA Business School |
CF 07: Finance and Labor Markets Location: 2.005-2.006 (Floor 2) Chair: Laurent Bach, ESSEC Business School |
FI 07: Digital Payments Location: 2.007-2.008 (Floor 2) Chair: Ulrich Hege, Toulouse School of Economics |
SCOR Foundation: Extreme risk in financial markets Location: 2.010-2.011 (Floor 2) Chair: Philippe Trainar, SCOR Foundation for Science Chair: Bertrand Groslambert, SKEMA |
SF 02: Financing and Policy Constraints in Sustainability Location: 3.000 (Floor 3) Chair: Marcin Kacperczyk, Imperial College London |
HF 04: Credit Markets Location: 3.216 (Floor 3) Chair: Sumit Agarwal, National University of Singapore |
| 10:30am - 11:00am |
Coffee Break |
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| 11:00am - 12:30pm |
BIS: Government debt and financial markets Location: 1.000 AMPHI II (Floor 1) Chair: Andreas Schrimpf, Bank for International Settlements |
AP 12: The Macro-Finance of Debt, Credit, and Inflation Location: 1.003-1.004 (Floor 1) Chair: Allan Timmermann, University of California-San Diego |
AP 13: Creative Destruction and Market Dynamics Location: 1.009-1.010 (Floor 1) Chair: Pierre Collin-Dufresne, EPFL and Swiss Finance Institute |
CF 08: Financial Technology Location: 2.002-2.003 (Floor 2) Chair: Gilles Chemla, Imperial College Business School, CNRS, CEPR |
CF 09: Workforce Productivity and Innovation Location: 2.005-2.006 (Floor 2) Chair: Isil Erel, The Ohio State University |
FI 08: Technological Innovation in Credit Markets Location: 2.007-2.008 (Floor 2) Chair: Jean-Edouard Colliard, HEC Paris |
MM 02: Optimal Liquidity Supply Location: 2.010-2.011 (Floor 2) Chair: Christine Parlour, UC Berkeley Chair: Uday Rajan, University of Michigan |
SF 03: Government Policy and Sustainable Finance Location: 3.000 (Floor 3) Chair: Laura Starks, The University of Texas at Austin |
HF 05: Household Debt and Liquidity Location: 3.216 (Floor 3) Chair: Francisco Gomes, London Business School |
| 12:30pm - 2:00pm |
Lunch |
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| 2:00pm - 3:30pm |
NBIM: Understanding the long-run drivers of asset prices Location: 1.000 AMPHI II (Floor 1) Chair: Christian Heyerdahl-Larsen, BI Norwegian Business School |
AP 14: Expectations, Asset Pricing, and the Macroeconomy Location: 1.003-1.004 (Floor 1) Chair: Nicolae Garleanu, Washington University in St. Louis |
AP 15: Valuation and Investing in Illiquid Markets Location: 1.009-1.010 (Floor 1) Chair: Sebastien Betermier, McGill University |
CF 10: Shareholder and Bondholder Actions Location: 2.002-2.003 (Floor 2) Chair: Oliver Spalt, University of Mannheim |
CF 11: Efficiency and Corporate Finance Location: 2.005-2.006 (Floor 2) Chair: Charlotte Ostergaard, Copenhagen Business School |
MM 03: Segmentation, Manipulation, and Races in Financial Markets Location: 2.007-2.008 (Floor 2) Chair: Albert Menkveld, Vrije Universiteit Amsterdam |
FI 09: Asset Management Location: 2.010-2.011 (Floor 2) Chair: Francesco Franzoni, USI Università della Svizzera italiana, Swiss Finance Institute |
SF 04: The Impact of Sustainable Finance Location: 3.000 (Floor 3) Chair: Paul Smeets, University of Amsterdam |
HF 06: Implications of Household Debt Location: 3.216 (Floor 3) Chair: Constantine Yannelis, University of Chicago Booth School of Business Chair: Marieke Bos, Stockholm School of Economics, VU Amsterdam |
| 3:30pm - 4:00pm |
Coffee Break |
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| 4:00pm - 5:40pm |
GA: General Assembly - Prize Ceremony - Keynote Address Location: 1.200 AMPHI I (Floor 1) |
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| 7:00pm - 11:00pm |
Conference Dinner |
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| Date: Saturday, 23/Aug/2025 | |||||||||
| 9:00am - 2:00pm |
Registration Desk |
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| 9:30am - 11:00am |
JPEF-PeRCent: Developments in pension economics and finance Location: 1.000 AMPHI II (Floor 1) Chair: Kim Peijnenburg, Tilburg |
AP 16: Return Predictability Location: 1.003-1.004 (Floor 1) Chair: Irina Zviadadze, HEC Paris |
AP 17: Risk Premia Measurement Location: 1.009-1.010 (Floor 1) Chair: Stijn Van Nieuwerburgh, Columbia University Graduate School of Business |
CF 12: Corporate Objective Mistatements Location: 2.002-2.003 (Floor 2) Chair: Mariassunta Giannetti, Stockholm School of Economics |
CF 13: Innovation and Private vs Public markets Location: 2.005-2.006 (Floor 2) Chair: Michelle Lowry, Drexel University |
FI 10: Regulations, Runs, and Lending in Banking History Location: 2.007-2.008 (Floor 2) Chair: Rafael Matta, SKEMA Business School |
FI 11: Financial Stability Location: 2.010-2.011 (Floor 2) Chair: Urszula Szczerbowicz, SKEMA |
SF 05: Climate Change Risk Pricing Location: 3.000 (Floor 3) Chair: Olivier David Zerbib, CREST, ENSAE, Institut Polytechnique de Paris |
HF 07: New Loan Products and Regulation Location: 3.216 (Floor 3) Chair: Arna Olafsson, Copenhagen Business School |
| 11:00am - 11:30am |
Coffee Break |
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| 11:30am - 1:00pm |
FI 12: Credit, Poverty and Discrimination Location: 1.000 AMPHI II (Floor 1) Chair: Kim Fe Cramer, LSE |
AP 18: Asset Return Dynamics Location: 1.003-1.004 (Floor 1) Chair: Adlai Fisher, UBC |
AP 19: Factor Models Location: 1.009-1.010 (Floor 1) Chair: Evan Jo, Queen's University |
CF 14: Regulation Spillovers Location: 2.002-2.003 (Floor 2) Chair: Alberta Di Giuli, ESCP |
CF 15: Corporate Strategies and Product Markets Location: 2.005-2.006 (Floor 2) Chair: Nadya Malenko, Boston College |
FI 13: Regulation and the Boundaries of Traditional Banks Location: 2.007-2.008 (Floor 2) Chair: Diane Pierret, University of Luxembourg |
FI 14: Banks and Non-Banks Financial Intermediation Location: 2.010-2.011 (Floor 2) Chair: Loriana Pelizzon, Leibniz Institute for Financial Research SAFE |
SF 06: Frameworks for Sustainable Finance Research Location: 3.000 (Floor 3) Chair: Adelina Barbalau, University of Alberta |
HF 08: Household Consumption and Financial Decisions Location: 3.216 (Floor 3) Chair: Sylvain Catherine, Wharton School, University of Pennsylvania |
| 1:00pm - 2:00pm |
Snacks & Drinks |
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