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2017 Fixed Income and Financial Institutions Conference

The Darla Moore School of Business of the University of South Carolina is pleased to host the 6th Annual Fixed Income and Financial Institutions Conference.


April 28-29, 2017

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 your group rate for USC Moore School - FIFI
 

CONFERENCE AGENDA

Friday, April 28
8:30 AM
Rm 331 

BREAKFAST AND REGISTRATION

9:15 AM
Rm 324  
OPENING REMARKS
10:00 AM
Rm 330

SESSION 1  RISK IN BANKING
Session Chair: Yongqiang Chu

  Bank Culture
Anjan Thakor, Washngton University at St. Louis
Fenghua Song, Pennsylvania State University

Discussant: Ming Yang, Duke University    

  Lender Moral Hazard and Reputation in Originate-to-Distribute Markets
Andrew Winton, University of Minnesota
Vijay Yerramilli, University of Houston

Discussant: Barney Hartman-Glaser, UCLA    

  Bank Networks and Systemic Risk: Evidence from the National Banking Acts
Mark Paddrik, Office of Financial Research
Haelim Park, Office of Financial Research
Jessie Jiaxu Wang, Arizona State University

Discussant: Selman Erol, MIT

10:00 AM
Rm 324
SESSION 2  MARKET MICROSTRUCTURE
Session Chair: Eric Powers
  Dealer Behavior in Highly Illiquid Risky Assets
Michael A. Goldstein, Babson College
Edith S. Hotchkiss, Babson College

Discussant: Stacey Jacobsen    

  Market Structure and Transaction Cost of Index CDSs
Pierre Collin-Dufresne, EPFL and Swiss Finance Institute
Benjamin Junge, EPFL and Swiss Finance Institute
Anders B. Trolle, EPFL and Swiss Finance Institute

Discussant: Zhaodong (Ken) Zhong, Rutgers University     

  Information and Liquidity of Over-the-Counter Securities: Evidence from Public Registration of Public Debt
Song Han, Federal Reserve Board
Alan G. Huang, University of Waterloo
Madhu Kalimipali, Wilfrid Laurier University
Ke Wang, Federal Reserve Board 

Discussant: Liying Wang, University of Nebraska, Lincoln

12:30 PM
Sonoco
Pavilion 
LUNCH AND
KEYNOTE SPEAKER

  RenĂ© M. Stulz
Everett D. Reese Chair of Banking and Monetary Economics Director 
Dice Center for Research in Financial Economics 

2:30 PM 
Rm 324
SESSION 3  BANK LOANS 
Session Chair: John Hackney
  Pipeline Risk in Leveraged Loan Syndication
Max Bruche, Cass Business School and FMG, LSE
Frederic Malherbe, London Business School and CEPR
Ralf R. Meisenzahl, Federal Reserve Board 


Discussant: Amar Gande    

  Lending Implications of U.S. Bank Stress Tests: Costs or Benefits
Viral Acharya, New York University
Allen Berger, University of South Carolina
Raluca Roman, Federal Reserve Bank of Kansas City

Discussant: Andrew Bird, Carnegie Mellon University    

  Financial Crises, Financial Constraints and Government Guarantees
John Hackney, University of South Carolina 

Discussant: Rebecca Zarutskie, Federal Reserve Board    

2:30 PM
Rm 330
SESSION 4  CAPITAL STRUCTURE AND CREDIT RISK 
Session Chair: Sergey Tsyplakov
  Restructuring Failure and Optimal Capital Structure
Alex Lehar, University of Calgary

Discussant: Lei Mao, CUHK    
 
  Industry Competition, Credit Spreads and Levered Equity Returns
Alexander Corhay, University of Toronto

Discussant: Xiaofei Zhao, University of Texas-Dallas  
 
4:45 PM
Rm 551
RECEPTION
(rooftop pavilion)

Saturday, April 29

7:30 AM
Rm 331
BREAKFAST 

8:30 AM
Rm 330
SESSION 5  BANK LOANS AND BANK RISK TAKING
Session Chair: Chao Jiang

Does Counter-Cyclical Provisioning Mitigate Bank Lending Contractions? Evidence from Supply Shocks
Sudarshan Jayaraman, Rochester University
Bryce Schonberger, Rochester University
Joanna Shuang, Rochester University

Discussant: Biqin Xie, Pennsylvania State University


  Foreign Investment, Regulatory Arbitrage and the Risk of U.S. Financial Institutions
W. Scott Frame, Federal Reserve Bank of Atlanta
Atana Mihov, Federal Reserve Bank of Richmond
Leandro Sanz, Federal Reserve Bank of Richmonde

Discussant: John Sedunov, Villanova University    
 
8:30 AM
Rm 324 
SESSION 6  TERM STRUCTURE
Session Chair: Hugh Kim

Level and Volatility Shocks to fiscal Policy: Term Structure Implacations
Lorenzo Bretscher, LSE
Alex Hsu, Georgia Institute of Technology
Andrea Tamoni, LSE

Discussant: Min Wei, Federal Reserve Board


  Information in the Term Structure: A Forecasting Perspective
Hitesh Doshi, University of Houston
Kris Jacobs, University of Houston
Rui Li, University of Houston 

Discussant: Canlin Li, Federal Reserve Board


10:00 AM  BREAK

10:30 AM 
Rm 330
SESSION 7  BANK RUNS
Session Chair: Wenhao Yang
  On Deposit Stability in Failing Banks
Manju Puri, Duke University
Chris Martin
Alex Ufier, FDIC


Discussant: Rustom Irani, University of Illinois

  Disclosure, Runs and Bank Capital Raising
Huong (Dieu) Dang, University of Canterbury
Jean Helwege, University of California, Riverside

Discussant: Dasol Kim, Case Western Reserve University
 
10:30 AM 
Rm 324
SESSION 8  BANKS AND THE STOCK MARKET
Session Chair: Vahid Irani
  Hidden in Plain Sight: Equity Price Discovery with Informed Private Debt
Jawad M. Addoum, Cornell University
Justin R. Murfin, Yale University

Discussant: Julie Wu, University of Nebraska, Lincoln    
 
  Bank Capital and Bank Stock Performance
Christa H.S. Bouwman, Texas A&M University
Hwagyn (Hagen) Kim, Texas A&M University
Sang-Ook (Simon) Shin, Texas A&M Universit


Discussant: Priyank Ganhi, University of Norte Dame