PROGRAMME 2023
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
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 (joint 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 (joint 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 (joint 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 (joint 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 (joint 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
Invited Talk: Global Footprints of Monetary Policies
Helene Rey, London Business School
Greenness of Public Investment Programs and Sovereign Yields
Irene Monasterolo, Utrecht University (joint 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 (joint with Lorenzo Cappiello, Gianluigi Ferrucci and Veronica Veggente)
Discussant: Caterina Rho, European Commission, Joint Research Centre, Ispra
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 (joint 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 (joint 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 (joint 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
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 (joint 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 (joint 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 (joint 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 (joint 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
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
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 (joint with Monica Billio, Carmelo Latino and Loriana Pelizzon)
17.45
CLOSING REMARKS and END OF THE CONFERENCE
