2014
VIII Luso-Brazilian Finance Meeting – Vale do Douro
March 28-30, 2014
Venue of the Meeting: CS Vintage House Hotel
The Hotel is located close to the village of Pinhão, 120 km east of the city of Oporto. The Hotel is accessible by car or by the panoramic Douro railway (train station is just behind the Hotel, the trip takes 2,5 hours and costs around 11 euros) .
Other activities suggested:
- Wine tasting at the Wine Academy of the CS Vintage House Hotel
- Visit to the Enoteca de Favaios (Quinta da Avessada) including wine tasting and local gastronomy degustation; http://www.enotecadouro.com/menu.html
- Mini-Cruise in a Rabelo Boat around the Douro River, leaving in front of the hotel. Traject: Pinhão-TUA-Pinhão. €25,00.
- Visit and dinner at the Quinta da Casa Amarela
The Organizing Committee:
João Amaro de Matos (Nova SBE): This email address is being protected from spambots. You need JavaScript enabled to view it.
Ana Paula Serra (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
Friday Evening
Short Communications
5:00 – 5:10: Political Uncertainty and Equity Risk Evidence from 2000/2004 US Presidential Elections
Authors: Marcelo Medeiros and Fernando Roriz
5:10 – 5:20: Are Rankings of Financial Analysts Useful for Investors?
Authors: Ana Paula Serra, Artur Aiguzhinov and Carlos Soares
5:20 -5:30: A Closed-Form Solution for Options with Ambiguity about Stochastic Volatility
Authors: Goncalo Faria and Joao Correia da Silva
5:30 – 5:40: Deleveraging Risk
Authors: Scott Richardson, Pedro Saffi, and Fari Sigurdsson
5:40 – 5:50: Risk and the Franchising Decision in a Multinational Firm
Author: Per Axelson
5:50 – 6:00: Information Asymmetries in Global Institutional Investment
Authors: Nelson Camanho, Harald Hau and Helene Ray
6:00 – 6:10: Do Improvement in the Information Environment Affect Real Investment Decisions?
Authors: Gilberto Loureiro and Alvaro Taboada
Coffee Break: 6:10-6:30
6:30 – 6:40: Short Selling and Inside Information
Authors: Fernando Chague, Alan De Genaro, Rodrigo de Losso, Dimas Fazio, Bruno Giovannetti
6:40-6:50: Cash Flow, Discount Risk Decomposition and ICAPM for US & Brazilian Stock Markets
Authors: Renato Colletta and João Mergulhão
6:40 – 6:50: Hedge Funds and Stock Market Efficiency
Author: Joni Kokkonen and Matti Suominen
6:50-7:00: Contagion from the Constant Cond. Correlation Model with Markov Regime Switching
Authors: Pedro Nielsen Rotta and Pedro Valls Pereira
7:10 – 7:20: The Market for Borrowing Securities in Brazil
Author: Lira Mota
7:20-7:30: Influential Analyst Recommendations: Are They the Hidden Gem?
Authors: Jose Afonso Faias and Pedro M. N. Mascarenhas
7:30 – 7:40: Asset Pricing under any Distribution of Returns: The Omega CAPM
Authors: Gabriel Vasconcelos, Fernanda Perobelli, Marcel Vieira
7:40 pm – 7:50 : Option Pricing for Petrobrás: Realized Volatility and Cond. Hetoreskedastic Estimation
Authors: Daniel Esteves dos Reis, Fernanda Perobelli, Rogério Silva de Mattos, and Wilson L. R. Corrêa
Saturday Morning
8:30-9:45 am: Tradable macro risk factors and the cross-section of stock returns
Authors: Nikolay Doskov, Tapio Pekkala and Ruy M. Ribeiro
Discussants: Gonçalo Faria and Pedro Valls
9:45-11:00 am: The Government as a Large Shareholder: Impact on the Voting Premium
Authors: Walter Novaes and Marcelo Fernandes
Discussants: Daniel Ferreira and Nelson Camanho
Saturday Afternoon
4:00 pm- 5:15 pm: Unfriendly Creditors: Debt Covenants and Board Independence
Authors: Daniel Ferreira, Miguel Ferreira and Beatriz Mariano (LUBRAFIN paper)
Discussants: Geraldo Cerqueira and Per Axelson
5:15-6:30 pm: Improved Creditor Protection and Verifiability in the US
Authors: Erasmo Giambona, Florencio Lopez-de-Silanes, Rafael Matta
Discussant: Miguel Ferreira and Pedro Saffi
6:30-6:45 pm: Coffee Break
6:45-8:00 pm: The Real Effects of Credit Ratings: Using Sovereign Downgrades as a Natural Experiment
Authors: Heitor Almeida, Igor Cunha, Miguel Ferreira and Felipe Restrepo (LUBRAFIN paper)
Discussants: Jose Afonso Faias and Marco Bonomo
Sunday Morning
8:30-9:45 am: Asset Volatility
Authors: Maria Correia, Johnny Kang and Scott Richardson
Discussants: João Pedro Pereira and Marcelo Medeiros
9:45-10:00 am: Coffee Break
10:00-11:15 am: Sorting out the time-varying inflation risk premium
Authors: Martijn Boons, Frans de Roon and Marta Szymanowska
Discussants: Joni Kokkonen and Rodrigo de Losso
11:15 am-12:30 pm: Debtor rights, credit supply, and Innovation
Author: Geraldo Cerqueiro, Deepak Hedge, Maria Fabiana Penas and Robert C. Seamans
Discussants: Gilberto Loureiro and João Mergulhão
Girls Air Jordan