II Luso-Brazilian Finance Meeting - Funchal

March 1-2, 2008

Venue of the Meeting: Pestana Casino Park

This hotel in Madeira is surrounded by 15,000 m2 of private gardens, where there is an abundance of open-air green spaces, century-old trees and typical plants of the island.

All the buildings of this 5-star hotel were designed by the Brazilian architect Oscar Niemeyer, considered to be one of the masters of design and modern construction, who was part of the team that designed the city of Brasilia. The space and the integration of natural light are the principal characteristics of this magnificent example of modern art.

With the sea at its feet, the Pestana Casino Park Hotel is one of the most fabulous hotels in Madeira. Here you will have the opportunity to make use of a series of services and activities available for all tastes, and soon after you arrive you will be able to relax with the family outdoors, where you will find a swimming pool and luxuriant gardens.

The Organizing Committee:

João Amaro de Matos (Nova SBE): This email address is being protected from spambots. You need JavaScript enabled to view it.

Jorge Farinha (Faculdade de Economia - Universidade do Porto): This email address is being protected from spambots. You need JavaScript enabled to view it.

Marco Bonomo (INSPER): This email address is being protected from spambots. You need JavaScript enabled to view it.

Walter Novaes (PUC-Rio): This email address is being protected from spambots. You need JavaScript enabled to view it.

Program

 

Saturday Morning

Short Communications Session

8:20 - A Monte Carlo Method for the Normal Inverse Gaussian Option Valuation Model using an Inverse Gaussian Bridge

Author: Cláudia Ribeiro

8:30 - On Recovery and Intensity’s Correlation – A New Class of Credit Risk Models

Author: Raquel Gaspar

8:40 - American Derivatives in Dry Markets

Author: Ana Lacerda

8:50 - Trade Credit Linkages along a Supply Chain: Evidence for the Italian Textile sector”

Author: Jose Filipe Correa Guedes & Cesario Mateus

9:00 - Managerial Ability and Capital Flows

Author: André Castro Silva

9:10 - Does Performance Explain Mutual Fund Flowsin Small Markets? The case of Portugal

Author: Carlos Ferreira Alves

9:20 - Dividends and Earnings Quality: The Missing Link?

Author: Jorge Farinha

 

9:30 – 9:45 am:Coffee Break

 

Saturday Morning

9:45-10:55 am: Price Efficiency and Short Selling

Pedro Saffi and Kari Sigurdson

Discussants: João Duque and Alexandre Lowenkron

 

10:55-12:05 am: Crashes, Volatility, and the Equity Premium: Lessons from S&P500 Options

Pedro Santa-Clara and Shu Yan

Discussants: Marcelo Fernandes and João Cocco

 

12:05 – 12:20 pm:Coffee Break

 

12:20-1:30pm: Informational Spillovers in the pre-1914 London Sovereign Debt

João Mello, Marcelo Abreu and Antonio Sodré

Discussants: Cesario Mateus and Ana Beatriz Galvão

 

Saturday Afternoon

 

4:00-5:10pm: The number of bank relationships and the cost of borrowing. An empirical study

Francesco Franco, Diana Bonfim, and Qinglei Dai

Discussant: António Gledson de Carvalho and Jorge Farinha

 

5:10-6:20 pm:Races to the top and bottom among stock exchanges: Unlikely but not impossible

Walter Novaes and Marcio Janot

Discussant: Jose Filipe Correa Guedes and Pedro Saffi

 

6:20-7:30 pm:When Banks are Insiders: Evidence from the Global Syndicated Loan Market

Miguel A. Ferreira and Pedro Matos

Discussants: João Mello and Qingley Dai

 

Sunday Morning

 

8:30-9:40 am: Board Structure and Price Informativeness

Clara Raposo, Daniel Ferreira, and Miguel Ferreira (LUBRAFIN paper)

Discussants: José-Miguel Gaspar and Walter Novaes

 

9:40-10:50 am: A Term Structure Model for Defaultable Bonds with Macro and Latent Variables

Alexandre Lowenkron and Marco Bonomo

Discussants: André Castro Silva and Marcio Garcia

 

 

10:50 – 11:05 pm:Coffee Break

 

11:05-12:15 am: Power Plays: Intra-Firm Corporate Connections and Firm Value

José-Miguel Gaspar and Massimo Massa

Discussants: Daniel Ferreira and Nuno Fernandes