Program of the 12th ICEF-CInSt International Moscow Finance Conference

Friday, November, 24th (hybrid format)

10:00-10:25 Welcome coffee break

10:25-10:30 Welcome address, Vladimir Sokolov (ICEF HSE), Maria Semenova (CInSt HSE), Alexey Boulatov (ICEF HSE)

10:30-12:30 Session I

Chair: Maria Semenova (CInSt HSE)

1. ESG Spillovers
Shangchen Li (Peking University), Hongxun Ruan (Peking University), Sheridan Titman (University of Texas at Austin), Haotian Xiang (Peking University)
Discussant: Vladimir Sokolov (ICEF HSE)

2. From Public to Internal Capital Markets: The Effects of Affiliated IPOs on Group Firms
Luana Zaccaria (Einaudi Institute for Economics and Finance), Simone Narizzano (Bank of Italy), Francesco Savino (Bank of Italy), Antonio Scalia (Bank of Italy)
Discussant: Sergey Tsyplakov (University of South Carolina)

3. Non-Compete Agreements and the Market for Corporate Control
Andrey Golubov (University of Toronto, Rotman School of Management) and Yuanqing (Lorna) Zhong (University of Toronto, Rotman School of Management)
Discussant: Sergey Stepanov (ICEF and FES HSE)

12:30-13:00 Coffee break

13:00-14:00 Keynote speech I

Chair: Alexey Boulatov (ICEF HSE)

Reference-dependent Preferences and Non-fundamental Asset Prices 
with Jess Benhabib and Pengfei Wang
Xuewen Liu University of Hong Kong, HKU Business School

14:00-15:00 Lunch

15:00-17:00 Session II

Chair: Runjie Geng (ICEF HSE)

1. Corporate Loans Composition in Russia During COVID-19 Pandemic: The Role of Borrowers’ Quality and Credit Lines
Anna Burova (Bank of Russia), Irina Kozlovtceva (Bank of Russia), Andrey Sinyakov (Bank of Russia)
Discussant: Maria Semenova (CInSt HSE)

2. The Impact of the Capital Strength of Large Banks on the Market Value of Smaller Banks
Valeriya Dinger (University of Osnabrueck), Francesco Vallascas (University of Durham), Qi Zhang (Shanghai Jiaotong University)
Discussant: Lucy Chernykh (Clemson University)

3. Valuation Uncertainty and Dynamic Entrepreneurial Finance
Peter Hansen (Purdue University)
Discussant: Dmitry Makarov (ICEF HSE)

17:00-17:30 Coffee break

17:30-18:30 Keynote speech II

Chair: Vladimir Sokolov (ICEF HSE)

The Unintended Consequences of Investing for the Long Run: Evidence from Target Date Funds
Andrei Simonov Frederick S. Addy Distinguished Chair in Finance, Michigan State University, Broad College of Business

19.30 Conference dinner for participants

Saturday, November, 25th (online)

13:00-15:40 Session III

Chair: Vladimir Sokolov (ICEF HSE)

1. Collective Reputations, the Trust Premium, and Corporate Misconduct
Konan Chang (National Chengchi University), De-Rong Kong (National Taiwan University), Tse-Chun Lin (University of Hong Kong)
Discussant: Viktar Fedaseyeu (CEIBS)

2. Contribution to Poverty Alleviation: A Waste or Benefit for Corporate Financing?
Guanming He (Durham University), Zhichao Li (University of Exeter), Ling Yu (Central University of Finance and Economics), Zhanqiang Zhou (Central University of Finance and Economics)
Discussant: Jingjing Xia (Wenzhou-Kean University)

3. Media Exposure and Share Repurchases
Vishal P. Baloria (University of Connecticut), Alvis K. Lo (Boston College), Susan Shu (Boston College), Enshuai Yu (Boston College)
Discussant: Andrey Golubov (Rotman School of Management)

4. Money Market Deposit Accounts and Money Market Mutual Funds – Substitution Effect
Anna Agapova (Florida Atlantic University), Denis Davydov (Hanken School of Economics)
Discussant: Madina Karamysheva (FES HSE)