Programme 2025 Edition

5th Corporate Policies and Asset Prices Conference, July 30-31 2025,  Luxembourg

Wednesday 30 July 2025

08:45 – 09:00 – Opening Words, Roberto Steri (University of Luxembourg)

09:00 – 11:50 – 1st Paper session “COMPETITION”, 
Chair: Thomas Maurer (HKU Business School, The University of Hong Kong)
Each paper presentation (50min) is divided as follows: 25min presentation, 15min Discussion, 10min Q&A

  • Data, Markups, and Asset Prices, Jun Li* (Warwick Business School), Alexandre Corhay (University of Toronto), Kejia Hu (University of Oxford), Jincheng Tong (University of Toronto), Chi-Yang Tsou (University of Manchester) / Discussant: Maria Cecilia Bustamente (University of Maryland)
  • Dynamic Competition and Systematic Risk, Yuri Tserlukevich* (Arizona State University), Oliver Boguth Tserlukevich (Arizona State University), Yuri Tserlukevich (Arizona State University) / Discussant: Sonny Biswas (University of Reading)
  • Coffee break
  • Shareholder Activism, Takeovers, and Managerial Discipline, Francesco Celentano* (University of Lausanne and Swiss Finance Institute), Oliver Levine (University of Wisconsin–Madison) / Discussant: Stefano Sacchetto (Nova School of Business & Economics)

11:50 – 13:20 – Lunch break

13:20 – 15:00 – 2nd Paper Session “PRODUCTION”, 
Chair: Luciano Somoza (ESSEC Business School)
Each paper presentation (50min) is divided as follows: 25min presentation, 15min Discussion, 10min Q&A

  • Operating Leverage and Risk Premium, Yifan Zuh* (BI Norwegian Business School), Leonid Kogan (Massachusetts Institute of Technology), Jun Li (University of Texas), Harold H. Zhang (University of Texas) / Discussant: Dino Palazzo (Federal Reserve Board of Governors)
  • Supply Chain Uncertainty: Pricing, Growth & Blockchains, Claudio Tebaldi* (Bocconi University), Simone Boldrini (Bocconi University), Mariano Croce (Bocconi University), Thien Nguyen (Federal Reserve Board), Daniil Parfenov (Bocconi University) / Discussant: Bernard Dumas (INSEAD)

15:00 – 15:20 – Coffee break

15:20 – 16:20 – KEYNOTE SESSION

  • Treasury Demand, Lukas Schmid (Marshall School of Business, University of Southern California)
17:00 – Social activities (for invited participants, programme members automatically enrolled)

 

Thursday 31 July 2025

09:00 – 11:50 – 3rd Paper Session “CORPORATE POLICIES”,
Chair: Andras Danis (Central European University) 
Each paper presentation (50min) is divided as follows: 25min presentation, 15min Discussion, 10min Q&A

  • Investment-Based Payouts and Firm Values, Kevin Schneider* (University of Oxford), Iv´an Alfaro (BI Norwegian Business School), Alessandro Graniero (BI Norwegian Business School) / Discussant: Goutham Gopalakrishna (University of Toronto)
  • Complementarity of Bank and Market Debt in Dynamic Debt Structure, Jessica Li (University of Chicago, Booth School of Business) / Discussant: Thomas Geelen (Pennsylvania State University)
  • Coffee break
  • Institutional
    Equity Investors and Corporate Debt Financing: A Cross-Market Perspective    ,     Jing Gao (University of Minnesota, Carlson School of Management) / Discussant: Elisa Pazaj (University of Amsterdam)

11:50 – 12:00 – Closing Words

12:00 – 13:30 – Closing Lunch

In the case of co-authors, the presenting author is highlighted with an “ * “

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