Conference Program

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XII Luso-Brazilian Finance Meeting – Porto de Galinhas

June 8-10, 2018

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

Friday Evening

5:30-6:15 pm: OTC Intermediaries

Authors: Andrea Eisfeldt (UCLA), Bernard Herskovic (UCLA), Emil Siriwardane (Harvard), Sriram Rajan (US Departament of Treasury)

Discussant: Felipe Iachan (FGV/EPGE)

6:15-7:00 pm: Effects of Immigration on Investments

Authors: Jesus Gorrin (Warwick)

Discussant: Giorgo Sertios (Universidad de los Andes)

Short Communications

7:00-7:15 pm: Dispersion in Financing Costs and Development (Cezar Santos (FGV-EPGE))

7:15-7:30 pm: The Impact of Government-Driven Loans in the Monetary Transmission Mechanism: What can we learn from firm-level data? (Marco Bonomo (Insper))

7:45-8:00 pm: Individuals Neglect the Information Role of Prices: Evidence from the Stock Market (Fernando Chague (FGV-EESP))

8:00-8:15 pm: Tax-inattentive Retail Investors (Bruno Giovannetti (FGV-EESP))

Saturday Morning

9:00-9:45 am: Bank Competition and the Limits of Creditor’s Protection Reforms

Authors: Leonardo Alencar (Central Bank of Brazil), Rodrigo Andrade (Central Bank of Brazil), Klenio Barbosa (Insper)

Discussant: Andre Silva (Fed Board)

9:45-10:30 am: Equity Risk Premium Predictability from Cross-Sectoral Downturns

Authors: Jose Faias (Catholic University of Portugal), Juan Zambrano (University of Reading)

Discussant: Fernando Chague (FGV-EESP)

Break

11:00-11:45 am: Not all Profits Are Created Equal: New Evidence on the Profits-Leverage Puzzle

Authors: Davidson Heath (University of Utah), Giorgo Sertios (Universidad de los Andes)

Discussant: Igor Cunha (University of Kentucky)

11:45-12:30 am: Leviathan Inc. And Corporate Environmental Engagement

Authors: Po-Hsuan Hsu (University of Hong Kong), Hao Liang (Singapore Management University), Pedro Matos (University of Virginia)

Discussant: Rafael Matta (University of Amsterdam)

Saturday Afternoon

5:30-6:15 pm: The Effects of Quantitative Easing on Corporate Investment, Employment and Financing: Theory and Evidence from the Bond-Lending Channel

Authors: Erasmo Giambona (Syracuse University), Rafael Matta (University of Amsterdam), Jose-Luis Peydro (Universitat Pompeu Fabra)

Discussant: Cezar Santos (FGV-EPGE)

6:15-7:00 pm: Venture Capital Investments and Merger and Acquisition Activity around the World

Authors: Gordon Phillips (Dartmouth College) and Alexei Zhdanov (Penn State University)

Discussant: Pedro Matos (University of Virginia)

7:00-7:45 pm: Pre-FOMC Announcement Relief

Authors: Vitor Martello (PUC-Rio) and Ruy Ribeiro (PUC-Rio)

Discussant: Jose Faias (Catholic University of Portugal)

Short Communications

8:00-8:15 pm: Modelos de Precificação Forward-Looking Aplicados à Blue Chips e Small Caps do Mercado Brasileiro (Leandro Rocco (UFC))

8:15-8:30 pm: On the Drivers of BNDES Credit to Brazilian State Governments (Paulo Matos (UFC))

8:30-8:45 pm: Empréstimo de Ações e Juros sobre Capital Próprio: os desdobramentos da Lei no 13.043/2014 (Fernanda Perobelli (UFJF))

8:45-9:00 pm: Currency Exposure and Liquidity Management (Fabricio D’Almeida (Purdue))

Sunday Morning

9:00-9:45 am: The Choice Channel of Financial Innovation

Authors: Felipe Iachan (FGV/EPGE), Plamen Nenov (Norwegian - BI), Alp Simsek (MIT)

Discussant: Bernard Herskovic (UCLA)

9:45-10:30 am: Can Credit Ratings affect Election Outcomes?

Authors: Igor Cunha (Univ. Of Kentucky), Miguel Ferreira (Nova SBE), Rui Silva (LBS)

Discussant: Klenio Barbosa (Insper)

Break

11:00-11:45 am: Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins

Authors: Thorsten Beck (Cass), Andre Silva (Cass Business School and IMF), Samuel Da-Rocha-Lopes (EBA and Nova SBE)

Discussant: Marco Bonomo (Insper)

11:45-12:30 pm: Exporting Uncertainty: The Impact of Brexit on Corporate America

Authors: Murillo Campello (Cornell), Gustavo Cortes (Illinois), Fabricio D’Almeida (Illinois), Gaurav Kankanhalli (Cornell)

Discussant: Jesus Gorrin (Warwick)