Conference Program

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XIII Luso-Brazilian Finance Meeting – Olhão, Algarve

June 7-9, 2019

Organizers: João Amaro de Matos, José Miguel Gaspar, Igor Cunha and Bruno Giovannetti

Friday Evening

5:30-6:15 pm: Mergers and Acquisitions with Private Equity Intermediation

Authors: Armando Gomes (Washington University in St. Louis), Swaminathan Balasubramaniamy (Washington University in St. Louis), SangMok Lee (Washington University in St. Louis)

Discussant: José Miguel Gaspar (ESSEC Business School)

6:15-7:00 pm: Demand Elasticities, Nominal Rigidities and Asset Prices

Authors: Nuno Clara (London Business School)

Discussant: Dejanir Silva (University of Illinois at Urbana-Champaign)

Break

Short Communications

7:15-7:30 pm: Asset prices with biased traders (Fernando Chague, FGV-EESP)

7:30-7:45 pm: Does Paycheck Frequency Matter for Households’ Decisions? Evidence from Financial Account Data (Filipe Correia, University of Illinois at Urbana-Champaign)

7:45-8:00 pm: Labor Market Effects of a Credit Crunch (Marco Bonomo, Insper)

8:00-8:15 pm:Price discovery and market microstructure noise (Marcelo Fernandes, FGV-EESP)

8:15-8:30 pm: The Impact of Financial Regulation on Bank Risk and Performance: The Basel III Spillover Experiment (Klenio Barbosa, Insper)

8:30-8:45 pm: I remember what you did last summer: Spillover effects of security class action filings on firms with a history of corporate misconduct (José Faias, Católica Lisbon School of Business & Economics)

Saturday Morning

9:00-9:45 amHow Global is Your Mutual Fund? International Diversification from Multinationals

AuthorsIrem Demirci (Nova SBE), Miguel A. Ferreira (Nova SBE), Pedro Matos (University of Virginia at Darden), Clemens Sialm (University of Texas at Austin and NBER)

Discussant: Pedro Saffi (University of Cambridge)

9:45-10:30 am: Hedge Fund Activism and Big Bears: The Role of Large Short Positions Disclosures

Authors: Tao Li (Florida), Pedro Saffi (University of Cambridge), Daheng Yang (Columbia)

Discussant: Melissa Prado (Nova SBE)    

Break

11:00-11:45 amFinancial Access Under the Microscope

Authors: Sumit Agarwal (National University of Singapore), Thomas Kigabo (National Bank of Rwanda), Camelia Minoiu (Federal Reserve Board), Andrea Presbitero (International Monetary Fund and MoFiR), André Silva (Federal Reserve Board)

Discussant: Klenio Barbosa (Insper)

11:45-12:30 am: Hedging Risk Factors

Authors: Bernard Herskovic (UCLA), Alan Moreira (Rochester), Tyler Muir (UCLA)

Discussant: Ricardo Barahona (Tilburg University)

Saturday Afternoon

5:30-6:15 pm: Entrepreneurship and Regional Windfall Gains: Evidence from the Spanish Christmas Lottery

Authors: Vicente J. Bermejo (ESADE), Miguel A. Ferreira (Nova SBE), Daniel Wolfenzon (Columbia University and NBER), Rafael Zambrana (Nova SBE)

Discussant: Filipe Silva (Trulaske College of Business, University of Missouri)

6:15-7:00 pm: How Collateral Affects Borrowing: Evidence from U.S. Micro-Level Data

Authors: Murillo Campello (Cornell University & NBER), Robert Connolly (UNC-Chapel Hill), Gaurav Kankanhalli (Cornell University), Eva Steiner (Cornell University)

Discussant: Rafael Zambrana (Nova SBE)

Break

Short Communications

7:15-7:30 pm: Corporate Capture of Blockchain Governance (Daniel Ferreira, LSE)

7:30-7:45 pm: Inspect what you expect to get respect: Can bank supervisors kill zombie lending? (Diana Bonfim, Banco de Portugal)

7:45-8:00 pm: Risk externality (Felipe Iachan, FGV-EPGE)

8:00-8:15 pm:Can unpredictable risk exposure be priced? (Ricardo Barahona, Tilburg University)

8:15-8:30 pm: The Effects of an Exogenous Reduction in the Opaqueness of an Equity Lending Market (Bruno Giovannetti, FGV - EESP)

Sunday Morning

9:00-9:45 am: The Effect of Fiscal Policy on Banks’ Financial Reporting

Authors: Felipe Silva (Trulaske College of Business, University of Missouri)

Discussant: André Silva (Federal Reserve Board)

9:45-10:30 am: Banks’ Liquidity Management and Financial Fragility

Authors: Luca G. Deidda (University of Sassari and CRENoS), Ettore Panetti (Banco de Portugal)

Discussant: Armando Gomes (Washington University in St. Louis)

Break

11:00-11:45 am: Heterogeneity, Trading Frictions, and Asset Prices

Authors: Wei Cui (University College London), Juan Passadore (Einaudi Institute for Economics and Finance), Dejanir Silva (University of Illinois at Urbana-Champaign)

Discussant: Nuno Clara (London Business School)

11:45-12:30 pm: Capital Commitment and Investment Decisions: The Role of Mutual Fund Charges

Authors: Juan-Pedro Gomez (IE Business School), Melissa Prado (Nova SBE), Rafael Zambrana (Nova SBE)

Discussant: Bruno Giovannetti (FGV-EESP)