The First Annual Conference of The Paul Woolley Centre for the Study of Capital Market Dysfunctionality was held at the London School of Economics from 12-13 June 2008.
The conference comprised of four sessions:
1. Behavioural Finance
2. Incentives of Fund Managers and Pricing Implications
3. Collateral Constraints and Asset Pricing
4. Asset Pricing and Macro
View programme
Sessions
Session 1: Behavioural Finance
Media Coverage and Investors' Attention to Earnings Announcements
by Joel Peress (INSEAD)
Realization Utility
by Nick Barberis (Yale University) and Wei Xiong (Princeton University)
Session 2: Incentives of Fund Managers and Pricing Implications
Fund Managers and Defaultable Debt
by Veronica Guerrieri (University of Chicago) and Peter Kondor (University of Chicago)
Institutional Investors, Intangible Information and the Book-to-Market Effect
by Hao Jiang (RSM Erasmum University)
Do Hedge Funds Profit From Mutual-Fund Distress?
by Joseph Chen (USC), Samuel Hanson (Harvard University), Harrison Hong (Princeton University) and Jeremy C. Stein (Harvard University and NBER)
Session 3: Collateral Constraints and Asset Pricing
Collateral, Financial Intermediation, and the Distribution of Debt Capacity
by Adriano Rampini (Duke University) and S. Viswanathan (Duke University)
Moral Hazard, Collateral and Liquidity
Viral Acharya (London Business School and CEPR) and S. Viswanathan (Duke University)
Session 4: Asset pricing and macro
Booms, Crashes and Choking in the Finance Sector and Other Speculative Industries
Bruno Biais (University of Toulouse), Jean-Charles Rochet (University of Toulouse) and Paul Woolley (London School of Economics)
The Aggregate Demand for Treasury Debt
Annette Vissing-Jorgensen (Northwestern University, NBER and CEPR) and Arvind Krishnamurthy (Northwestern University)
Carry Trades and Currency Crashes
Markus Brunnermeier (Princeton University, NBER and CEPR), Stefan Nagel (Stanford University and NBER) and Lasse H. Pendersen (New York University, NBER and CEPR)
Speakers' presentations
Presentations from the First Annual Conference can be found below.
Please note that some presentations have not been made available upon the author's request.
- Nick Barberis, Yale University
- Bruno Biais, University of Toulouse
- Markus Brunnermeier, Princeton University
- Harrison Hong, Princeton
- Hao Jiang, RSM Erasmus University
- Peter Kondor, University of Chicago
- Joel Peress, INSEAD
- Adriano Rampini, Duke University
- Annette Vissing-Jorgensen, Northwestern University
- S. Viswanathan, Duke University
Discussant Presentations:
- Ron Bird, University of Technology Sydney
- Mikhail Chernov, London Business School
- Amil Dasgupta, London School of Economics
- Erik Eyster, London School of Economics
- Simon Gervais, Duke University
- Igor Makarov, London Business School
- Guillaume Plantin, London Business School
- Jean-Charles Rochet, University of Toulouse
- Dimitri Vayanos, London School of Economics
- Michaela Verardo, London School of Economics
