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2016 Fixed Income and Financial Institutions Conference

The Darla Moore School of Business of the University of South Carolina is pleased to host the 5th Annual Fixed Income and Financial Institutions Conference.


April 29-30, 2016

Darla Moore School of Business 
University of South Carolina 
1014 Greene Street, Columbia, SC 29208

Conference registration fee: $50.00 
Eventbrite - 2015 Fixed Income Conference
 


 Book a hotel room at special conference rate.  

CONFERENCE AGENDA

Friday, April 29
9:00 AM 

BREAKFAST AND REGISTRATION

10:00 AM

SESSION 1: SYSTEMIC RISK

  Cross-Border Bank Flows and Systemic Risk
Andrew Karolyi, Alumni Professor in Asset Management, Cornell University
John Sedunov, Assistant Professor, Villanova University
Alvaro Taboada, Assistant Professor, University of Tennessee

Discussant: Nathan Dong, Columbia University    

  Self-Fulfilling Fire Sales, Bank Runs and Contagion
Zhoa Li, Ph.D. Candidate, Universitat Pompeu Fabre
Kebin Ma, Assistant Professor, Warwick Business School

Discussant: Roberto Robatto, University of Wisconsin-Madision    

  The 800 Pound Gorilla in the Room: Inconvenient Truths about Systemic Risk
Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University

10:00 AM SESSION 2: BOND FUND

  Reaching for Yield by Corporate Bond Mutual Funds
Jaewon Choi, Assistant Professor, University of Illinois
Mathias Kronlund, Assistant Professor, University of Illinois

Discusstant: Hao Jiang, Michigan State University    

  Did Bond Mutual Funds Destabilize the Corporate Bond Market?
Saeid Hoseinzade, Ph.D. Candidate, Boston College

Discussant: Gjergji Cici, College of William and Mary     

  Investment Herding by Life Insurers and Its Impact on Bond Prices
Chia-Chun Chiang, Ph.D. Candidate, University of South Carolina
Greg Niehaus, Professor, University of South Carolina 

Discussant: Song Han, Board of Governors of the Federal Reserve System

12:30 PM  LUNCH AND KEYNOTE SPEAKER 

  Mark Flannery
Chief Economist, SEC and 
Bank of America Eminent Scholar Chair, University of Florida 

2:30 PM  SESSION 3: MORTGAGE-BACKED SECURITIES 

  Risk Management and ABS Investment of Financial Institutions
Jane Chen, Professor, Shanghai University of Finance and Economics
Eric Higgins, Professor, Kansas State University
Han Xia, Assistant Professor, University of Texas-Dallas
Hong Zou, Associate Professor, University of Hong Kong
 

Discussant: Greg Nini, Drexel University    

  Liquidity Provision, Credit Risk and the Bond Spread: 
New Evidence from the Subprime Mortgage Market

Xudong An, Associate Professor, San Diego State University
Timothy Riddiough, E.J. Plesko Chair, University of Wisconsin-Madison

Discussant: Jan Ericsson, McGill University    

  Hiding Behind Writing: Communication in the Offering Process
of Mortgage-Backed Securities

Harold Zhang, Professor of Finance, University of Texas-Dallas
Feng Zhao, Associate Professor, University of Texas-Dallas
Xiaofei Zhao, Assistant Professor, University of Texas-Dallas
 

Discussant: Kathleen Weiss Hanley, Lehigh University    

2:30 PM SESSION 4: FUNDS 

  Alpha or Beta in the Eye of the Beholder: What Drives Hedge Fund Flows?
Vikas Agarwal, H. Talmage Dobbs, Jr. Chair, Georgia State University
T. Clifton Green, Associate Professor, Emory University
Honglin Ren, Ph.D. Candidate, Georgia State University

Discussant: Alexey Malakhov, University of Arkansas    
 
  Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds
Denis Sosyura, Assistant Professor, University of Michigan
Oleg Chuprinin, Senior Lecturer, University of New South Wales

DiscussantKelsey Wei, University of Texas-Dallas  
 

Limits to Arbitrage and Asset Mispricing: Casual Evidence from Closed-End Funds
Yongqiang Chu, Assistant Professor, University of South Carolina
Liang Ma, Assistant Professor, University of South Carolina
 

DiscussantMartin Cherkes, New York University  

Saturday, April 30

7:30 AM BREAKFAST 

8:30 AM SESSION 5: BANK REGULATION


Conditional Accounting Conservatism and Bank Risk Taking
Manuel Illyeca, Professor, Universitat Jaume I
Lars Norden, Professor, Brazilian School of Public and Business Administration
Gregory F. Udell, Chase Chair of Banking and Finance, Indiana University
 

Discussant: Xiumin Martin, Washington University at St Louis


  The Effects of Liquidity Regulation on Monetary Policy Implementation
Marcelo Rezende, Principal Economist, Federal Reserve Board
Mary-Frances Styczynski, Financial Analyst, Federal Reserve Board
Cindy M. Vojtech, Senior Economist, Federal Reserve Board

Discussant: Raluca Roman, Federal Reserve Bank of Kansas City    
 
8:30 AM  SESSION 6: STRUCTURAL MODELING


Credit Ratings, Credit Crunches and the Pricing of Collateralized Debt
Alexander David, Haskayne Research Professor of Finance, University of Calgary
Maksim Isakin, Ph.D. Candidate, University of Calgary

Discussant: Fan Yang, University of Connecticut


  Firm Policies and the Cross-Section of CDS Spreads
Andrea Gamba, Professor of Finance, Warwick Business School
Alessio Saretto, Assistant Professor, University of Texas-Dallas
 

Discussant: Lars-Alexander Kuehn, Carnegie Mellon University


10:00 AM  BREAK

10:30 AM  SESSION 7: BANK LOANS

  How Do Lead Banks Use Their Private Information about Loan Quality in the Syndicated Loan Market?
Lakshmi Balasubramanyan, Research Economist, Federal Reserve Bank of Cleveland
Allen Berger, H. Montague Osteen, Jr. Professor in Banking and Finance, University of South Carolina
Christa H.S. Bouwman, Associate Professor, Texas A&M University
Matthew M. Koepke, Research Assistant, Federal Reserve Bank of Cleveland
 

Discussant: Rustom Irani, University of Illinois

  Bank Quality, Judicial Efficiency and Borrower Runs: Loan Repayment Delays in Italy
Fabio Schiantarelli, Professor of Economics, Boston College
Massimiliano Stacchini, Bank of Italy
Phillip Strahan John J. L. Collins, S.J. Chair in Finance, Boston College
 
10:30 AM  SESSION 8: CORPORATE BONDS

  Liquidity and Price Pressure in the Corporate Bond Market: Evidence from Mega-Bonds
Jean Helwege, Professor, University of California-Riverside
Liying Wang, Assistant Professor, University of Nebraska-Lincoln

Discussant: Oguzhan Karakas, Boston College    
 
  Who Benefits from Bond Market Modernization?
David Musto, Ronald O. Perelman Professor in Finance, The Wharton School
Jillian Popadak, Assistant Professor, Duke University
 

Discussant: Marco Rossi, Texas A&M University