2022 Luso-Brazilian Finance Meeting – Praia do Forte, Bahia

July 1-3, 2022

Friday Afternoon

5:30-6:15 pm: Efficiency or Resiliency? Corporate Choice between Financial and Operational Hedging

Presenter: Heitor Almeida (UIUC)

Discussant: Bernardo Ricca (Insper)

6:15-7:00 pm: Inventory Investment Under Political Violence

Presenter: Diogo Mendes (Stockholm School of Economics)

Discussant: Heitor Almeida (UIUC)

7:00-7:45 pm: The Role of Restructuring in Bank M&As: Evidence from Branch-level Data

Presenter: Bernardo Ricca (Insper)

Discussant: Diogo Mendes (Stockholm School of Economics)

Break

Short Communications

8:00-8:15 pm: From Rich to Poor: Assessing the Wealth Redistribution Through Trading in the Stock and Derivatives Market (Guilherme Paiva, Insper)

8:15-8:30 pm:The Substitute Model of Dividends at Work: a change in minority shareholder protection (Ricardo Brito, FEA-USP)

8:30-8:45 pm: The Bright Side of Discretion in Public Procurement (Dimas Fazio, National University of Singapore)

Saturday Morning

9:00-9:45 am: How Does Climate Change Affect Firm Sales? Identifying Supply Effects

Presenter: Miguel Ferreira (Nova SBE)

Discussant: Rafael Schiozer (EAESP-FGV)

9:45-10:30 am: Local stores, salience, and retail day-trading

Presenter: Fernando Chague (EESP-FGV)

Discussant: Melissa Porras Prado (Nova SBE)

Break

11:00-11:45 am: Optimal Capital Structure with Stock Market Feedback

Presenter: Ana Elisa Pereira (Universidad de los Andes - Chile)

Discussant: Walter Novaes (PUC-Rio)

Saturday Afternoon

5:30-6:15 pm: Interdealer Price Dispersion

Presenter: Bernard Herskovic (UCLA Anderson)

Discussant: Bruno Giovannetti (EESP-FGV)

6:15-7:00 pm: Government Banks and Interventions in Credit Markets

Presenter: José Renato Ornelas (BACEN)

Discussant: Artashes Karapetyan (ESSEC)

Break

Short Communications

7:15-7:30 pm: Factor Momentum and Lead-Lag Effects Everywhere (Ruy Ribeiro, Insper)

7:30-7:45 pm: Internalizando a internalização de ordens (Alan De Genaro, EAESP-FGV)

7:45-8:00 pm: The Impact of Deposit Insurance on Bank Risk and Competition: Bank Level Analysis (Apinyapon Seingyai, Insper)

8:00-8:15 pm:Agency costs in payout policies: How pervasive are they? Evidence from a civil-law country (Walter Novaes, PUC-Rio)

8:15-8:30 pm: Trading for Bailouts (Caio Machado, PUC-Chile)

8:30-8:45 pm: The FOMC Announcement Reversal (Ruy Ribeiro, Insper)

Sunday Morning

9:00-9:45 am: Is a Friend in Need a Friend Indeed? How Relationship Borrowers Fare during the COVID-19 Crisis

Presenter: Lars Norden (EBAPE-FGV)

Discussant: Bernard Herskovic (UCLA Anderson)

9:45-10:30 am: Price-elasticity of demand and risk bearing capacity in sovereign bond auctions

Presenter: José-Miguel Cardoso-Costa (Banco de Portugal)

Discussant: Fernando Chague (EESP-FGV)

Break

10:45-11:30 pm: Inefficient Regulation: Mortgages versus Total Credit

Presenter: Artashes Karapetyan (ESSEC)

Discussant: Lars Norden (EBAPE-FGV)

Short Communications

11:30-11:45 pm: The Information Content from Lending Relationships Across the Supply Chain (Rafael Schiozer, EAESP-FGV)

11:45-12:00 pm: Hybrid Securities as a strategy of sequential finance in the banking sector (Rodrigo Leite, Coppead/UFRJ)

12:00-12:15 pm: Foreign Exchange Interventions and Covered Interest Parity Deviations (Márcio Garcia, PUC-Rio)