Skinance 2005 Program

Invited Keynote Speakers

Pierre Collin-Dufresne, UC Berkeley
B. Espen Eckbo, Dartmouth College
Josef Zechner, University of Vienna

Program Details

Wednesday
Keynote presentation	Zechner, Josef	Market discipline and internal governance in the mutual fund industry with background material
Morning session	Bühler, Wolfgang	Calling Convertible Bonds too Late Can be Rational
		Discussant: Ken L. Beckman
	Næs, Randi and Johannes A. Skjeltorp	Order Book Characteristics and the Volume-Volatility Relation: Empirical Evidence from a Limit Order Market
		Discussant: Loran Chollete
Afternoon session	Adams, Rene B.	Gender Diversity in the Boardroom
	Bechmann, Ken L.	The Market-Microstructure Effects of Convertible Bond Calls—Good News, Bad News or Hedging Induced Price Pressure?
	Henriksen, Espen R.	Dynamic Suboptimality of Overlapping Generations Economies with Lucas Trees
	Kaustia, Markku	What Causes the Disposition Effect? An Empirical Evaluation
	Leite, Tore	Adverse Selection, Public Information, and Underpricing in New Issues
	Olsen, Trond E.	Regulatory Competition and Multi-National Banking
	Stamland, Tommy	The Information Content of Disclosures: The Role of Transparency and Standards
Thursday
Keynote presentation	Eckbo, B. Espen	Optimal bankruptcy law: Are mandatory auctions more efficient?
Morning session	Chernov, Mikhail	Optimal Corporate Securities Values in the Presence of Chapter 7 and Chapter 11
		Discussant: Michael Genser
	Zagst, Rudi	Defaultable Term Structure Models; based on the papers Empirical Evaluation of Hybrid Defaultable Bond Pricing Models, and Three-Factor Defaultable Term Structure Models
		Discussant: Joel Reneby
Afternoon session	Genser, Michael	A Testable Credit Risk Framework with Optimal Bankruptcy, Taxes, and a Complex Capital Structure
	Jørgensen, Peter Løchte	Lognormal Approximation of Complex Path-Dependent Pension Scheme Payoffs
	Kristiansen, Eirik Gaard	Financial Intermediation and Firms' Capital Structure
	Mjøs, Aksel and Svein-Arne Persson	European Options on Defaultable Perpetual Debt: Valuation and Implications for Pricing of Debt
	Reneby, Joel	Joint Estimation of Default and Non-Default Components of Corporate Bond Spreads
	Sagi, Jacob	Wag the Dog: a high equity premium with smooth consumption
	Stomper, Alex	Why Leverage Distorts Investment
Friday
Keynote presentation	Collin-Dufresne, Pierre	On the relation between Credit Spread and Equity premium puzzles
Morning session	Larsen, Kasper	Optimal Portfolio Delegation when Parties have Different Coefficients of Risk Aversion
		Discussant: Jacob Sagi
	Sørensen, Carsten	Dynamic Asset Allocation and Latent Variables
		Discussant: Jonas Andersson

EWFS 2005