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CREDIT 2023

PROGRAMME 2023

  1. Day 1
  2. Day 2

September 21st

 

Thursday

08.30

 

REGISTRATION

09.00

 

WELCOME AND OPENING REMARKS
Monica Billio, Ca’ Foscari University of Venice & GRETA, Venice
Mario Nava, DG Reform, European Commission

09.15

 

SESSION I: GLOBAL FINANCE AND GEOPOLITICS
Chairman: Domenico Sartore, Ca’ Foscari University of Venice & GRETA, Venice

https://www.stern.nyu.edu/faculty/bio/robert-engle

Invited Talk: Finance and Geoeconomics
Moritz Schularick, Kiel Institute for the World Economy & Sciences Po Paris

Political Ties and the Global Financial Cycle
Xiang Li, Halle Institute for Economic Research (join with Gene Ambrocio and Iftekhar Hasan)
Discussant: Loriana Pelizzon, Ca’ Foscari University of Venice, Leibniz Institute for Financial Research SAFE & Goethe University, Frankfurt am Main

Global Bank Lending During Political Conflicts: Evidence from the Agricultural Industry
Yitao Zheng, University of Bristol (join with Piotr Danisewicz, Min Park and Klaus Schaeck)
Discussant: Claudio Rizzi, University of Navarra

11.00

 

COFFEE BREAK

11.30

 

SESSION II: MACROECONOMICS AND GEOPOLITICAL RISK
Chairman: Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven, NTNU Business School & CEPR

The Macroeconomic Effects of Global Supply Chain Disruptions
Peter Tillmann, University of Giessen (join with David Finck)
Discussant: Yanru Lee, University of North Carolina at Chapel Hill

Bank Lending and Firm Internal Capital Markets Following a Deglobalization Shock
Björn Imbierowicz, Deutsche Bundesbank, Frankfurt am Main (join with Arne Nagengast, Esteban Prieto and Ursula Vogel)
Discussant: Jan-Pieter Krahnen, Leibniz Institute for Financial Research SAFE & Goethe University, Frankfurt am Main

Multifactor Risk Attribution Applied to Systemic, Climate and Geopolitical Tail Risks for the Eurozone Banking Sector
Gian Marco Mensi and Maria Cristina Recchioni, Marche Polytechnic University, Ancona (join with Giulia Bettin)
Discussant: Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven, NTNU Business School & CEPR

13.00

 

LUNCH

14.15

 

SESSION III: SUSTAINABILITY, MONETARY POLICY, AND SOVEREIGN RISK
Chairman: Lucia Alessi, European Commission, Joint Research Centre, Ispra

https://www.london.edu/faculty-and-research/faculty-profiles/r/reichlin-l

Invited TalkGlobal Footprints of Monetary Policies
Helene Rey, London Business School

Greenness of Public Investment Programs and Sovereign Yields
Irene Monasterolo, Utrecht University (join with Lucia Alessi and Virmantas Kvedaras)
Discussant: Santiago Forte, University Ramon Llull, ESADE, Barcelona

Credit Worthy: Do Climate Change Risks Matter for Sovereign Credit Ratings?
Angela Maddaloni, European Central Bank¸ Frankfurt am Main (join with Lorenzo Cappiello, Gianluigi Ferrucci and Veronica Veggente)
Discussant: Caterina Rho, European Commission, Joint Research Centre, Ispra

16.00

 

COFFEE BREAK and POSTER SESSION

Poster Session I

16.45

 

SESSION IV: ESG DISCLOSURE
Chairman: Roberto Rigobon, MIT Sloan School of Management, Cambridge

ESG Profile of Italian Companies: Focus on SMEs
Valeria Nale, CRIF, Bologna
Discussant: Monica Billio, Ca’ Foscari University of Venice & GRETA, Venice

ESG Considerations in Acquisitions and Divestitures: Corporate Responses to Mandatory ESG Disclosure
Qilin Peng, University of Toronto (join with Tong Li and Luping Yu)
Discussant: Andrea Giacomelli, Knowshape, Ca’ Foscari University of Venice & GRETA, Venice

The Effect of Environmental Preferences on Investor Responses to ESG Disclosure
François Koulischer, University of Luxembourg (join with Marina Emiris and Joanna Harris)
Discussant: Michele Costola, Ca' Foscari University of Venice

Climate Adaptation Disclosure: Does it Bring Home the Green?
Alessio Venturini, University of Reading (join with Alfonso Dufour, Len Shaffrey and Simone Varotto)
Discussant: Stefano Battiston, Ca’ Foscari University of Venice & University of Zurich

20.00

 

SOCIAL DINNER

September 22nd

 

Friday

09.00

 

SESSION V: FINANCE AND THE SOCIAL DIMENSION
Chairman: Marti Subrahmanyam, New York University

https://www.imperial.ac.uk/people/m.kacperczyk.edu/faculty/bio/robert-engle

Invited Talk: Finance and Human Rights
Elisa Giuliani, University of Pisa

Gender of Firm Decision-makers and Within-firm Wage Disparity
Panagiotis N. Politsidis, Audencia Business School, Nantes (join with Manthos D. Delis, Iftekhar Hasan, Maria Iosifidi and Anthony Saunders)
Discussant: Stefano Colonnello, Ca’ Foscari University of Venice

Corporate Taxes and Economic Inequality: A Credit Channel
Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven, NTNU Business School & CEPR (join with Manthos D. Delis, Emilios Galariotis and Maria Iosifidi)
Discussant: Marti Subrahmanyam, New York University

10.45

 

COFFEE BREAK

11.15

 

PANEL SESSION: SOVEREIGN AND GEOPOLITICAL RISKS
Dedicated to Mauro Carlo Maccarinelli

Moderator: Isabella Bufacchi, European Central Bank watcher and Germany correspondent at Il Sole 24 Ore, Frankfurt am Main

Davide Alfonsi, Group Chief Risk Officer of Intesa Sanpaolo, Turin
Carlo Carraro, Bureau of the Nobel Laureate Intergovernmental Panel on Climate Change (IPCC), United Nations, New York
Helmut Kraemer-Eis, Head of Research & Market Analysis , European Investment Fund, Luxembourg
Jan Pieter Krahnen, Founding Director emeritus of the Leibniz Institute for Financial Research SAFE, Frankfurt am Main
Luca Paolazzi, Chief scientific Officer at Fondazione Nord Est and Investment advisor at Ceresio Investors, Milan
Richard Portes, London Business School & Academic Director, AQR Asset Management Institute, London
Ludovic Thebault, Head of Reseach, DatawareHouse, Frankfurt am Main

13.00

 

LUNCH

14.15

 

SESSION VI: GOVERNMENT BONDS AND SOVEREIGN RISK
Chairman: Stephen Schaefer, London Business School

A Two-Factor Model of Sovereign Bond Volatilities
Susana Campos-Martins, University of Oxford & Católica Lisbon School of Business & Economics, Palma de Cima (join with Robert F. Engle)
Discussant: Roberto Rigobon, MIT Sloan School of Management, Cambridge

International Portfolio Frictions
Alessandro Fontana, European Insurance and Occupational Pensions Authority, Frankfurt am Main (join with Wenxin Du, Petr Jakubik, Ralph S.J. Koijen and Hyun-Song Shin)
Discussant: Andrea Berardi, Ca' Foscari University of Venice

An Anatomy of the 2022 Gilt Market Crisis
Gabor Pinter, Bank of England, London
Discussant: Stephen Schaefer, London Business School

15.45

 

COFFEE BREAK and POSTER SESSION

Poster Session II

16.30

 

SESSION VII: ESG RATING METHODOLOGIES
Chairman: Loriana Pelizzon, Ca’ Foscari University of Venice, Leibniz Institute for Financial Research SAFE & Goethe University, Frankfurt am Main

https://www.imperial.ac.uk/people/m.kacperczyk.edu/faculty/bio/robert-engle

Invited Talk: Estimating ESG Preferences
Roberto Rigobon, MIT Sloan School of Management, Cambridge

Unpacking the ESG Ratings: Does One Size Fit All?
Aoife Claire Fitzpatrick, Leibniz Institute for Financial Research SAFE & Goethe University, Frankfurt am Main (join with Monica Billio, Carmelo Latino and Loriana Pelizzon)

17.45

 

CLOSING REMARKS and END OF THE CONFERENCE