2017 Santiago Finance Workshop

University of Chile

Monday, December 11th, 2017

(Center of Finance - Department of Industrial Engineering, Beauchef 851, Santiago — Room B08, Floor -1)


09:30   Registration and Coffee

10:00   Opening Words - Eduardo S. Schwartz, UCLA Anderson School of Management

Session 1: Debt and Bankruptcy

Chair: Marcela Valenzuela

10:15   Debt and human capital: Evidence from student loans

By Andres Liberman, New York University

            Discussant: Patricio Valenzuela, University of Chile

11:00   Managers’ personal bankruptcy costs and risk-taking,

By David Schoenherr, Princeton University

            Discussant: Giorgo Sertsios, Universidad de los Andes


12:00   Lunch


Session 2: Uncertainty

Chair: Francisco Marcet 

13:30   The cultural origin of CEOs’ attitudes towards uncertainty: Evidence from corporate acquisitions

By Stephan Siegel, University of Washington

            Discussant: Matias Braun, Universidad Adolfo Ibañez

14:15   Uncertainty shocks as second-moment news shocks

By Stefano Giglio, Yale University

              Discussant: Marcelo Fernandes, Fundação Getulio Vargas


15:00   Coffee Break


Session 3: Financial Behavior of Investors

Chair: Alejandro Bernales

15:30   Do corruption perceptions matter for investors? Evidence from hedge funds

By Haibei Zhao, Lehigh University

            Discussant: Michael Tang, New York University

16:15   Interfund lending in mutual fund families: Role in liquidity management

By Vikas Agarwal, Georgia State University

            Discussant: Borja Larrain, Pontifical Catholic University of Chile

Tuesday, December 12th, 2017

(Center of Finance - Department of Industrial Engineering, Beauchef 851, Santiago — Room B08, Floor -1)

 9:45    Coffee Break


Session 4: International Finance

Chair: Erwin Hansen

10:00   Global market inefficiencies

By Sohnke Bartram, University of Warwick

            Discussant: Francisco Marcet, University of Chile 

10:45   Taper tantrums: QE, its aftermath and emerging market capital flows

By Anusha Chari, University of North Carolina at Chapel Hill

            Discussant: Mauricio Larraín, Pontifical Catholic University of Chile


12:00   Lunch


Session 5: Banking

Chair: Rodrigo Cifuentes

13:30   Stressed banks

By Roberto Steri, University of Lausanne

            Discussant: Juan Francisco Martinez, Central Bank of Chile

14:15   Did the basel process of capital regulation enhance the resiliency of European banks?

By Thomas Gehrig, University of Vienna

            Discussant: Consuelo Silva Buston, Pontifical Catholic University of Chile


15:00   Coffee Break


Central Bank of Chile Invited Lecture

Chair: Patricio Valenzuela

15:30   The price of law: The case of Eurozone collective action clauses

By Elena Carletti, Bocconi University (Central Bank of Chile Guest)


16:40   Bus to University of Chile Business School


Keynote Speaker

(Business School, Diagonal Paraguay 257, Santiago)

17:30   Cracking the home bias enigma

By Andrew Karolyi, Cornell University


18:30   Dinner (by invitation)