Last updated: 11 April, 2019
Presenting authors are marked in red
Sunday 14 April, 2019
| 15:00 | Registration | |
| 16:00 - 18:20 | Session 1: Corporate Restructuring |
Session 2: Asset Pricing |
| Chair: Panayiotis Andreou | Chair: Neophytos Lambertides |
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| Public-to-Private Buyouts and Innovation Authors: Monika Tarsalewska, Douglas Cumming, Rejo Peter Discussant: Wasim Ahmad |
The impact of additional capital raising on stock mispricing
Author: Winifred Huang Discussant: Facundo Mercado |
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| Target valuation and financial multiples in M&As: Assessing value drivers in the European ro-pax and ferry market Authors: Giovanni Satta, Francesco Parola, Francesco Avallone, Francesco Vitellaro Discussant: Andrzej Cieslik |
Governance, Information Flow and Stock Returns: Evidence from a Natural Experiment Authors: Ariadna Dumitrescu , Mohammed Zakriya Discussant: Darren Duxbury |
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| Determinants of international M&As: Market seeking or efficiency seeking? Authors: Andrzej Cieslik, Monika Tarsalewska Discussant: Dimitris Petmezas |
Is Air-Quality a Risk Factor that Affects Stock Returns? Authors: Yexiao Xu, Bo Liu Discussant: Mustafa Caglayan |
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| Corporate Governance, the Long-Term Orientation and the Risk of Financial Distress - Evidence from European Private Equity Backed Leveraged Buyout Transactions Authors: Vladimiro Marini, Massimo Caratelli, Ilaria Barbaraci Discussant: Jan - Michael Ross |
Business Development Companies: Private Equity for Individual Investors? |
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| 18:30 | Welcome Reception | |
Monday 15 April, 2019
| 07:30 | Registration | ||
| 08:15 - 10:00 | Session 3: Economic consequences of financial reporting practices |
Session 4: Alternative Financing |
Session 5: Managerial Characteristics and Biases |
| Chair : Dionysia Dionysiou |
Chair : Oleksandr Talavera |
Chair : Darren Duxbury | |
| Compliance with pension-related mandatory disclosures and debt financing Authors: Ioannis Tsalavoutas , Khadija Almaghrabi, Kwaku Opong Discussant: Xiu - Ye Zharg |
Herding behavior: Automatic versus Human Investors on Renrendai Authors: Mustafa Caglayan, Oleksandr Talavera, Wei Zhang Discussant: Samah El Hajjar |
Clarifying managerial Biases using a Probabilistic Framework Authors: Polina Ellina, Briance Mascarenhas, Panayiotis Theodossiou Discussant : Dominika Galkiewicz |
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| A disadvantage in IFRS adoption in the UK: the adverse consequences of IAS 38 Authors: Christina Dargenidou,Richard Jackson, Ioannis Tsalavoutas, Fanis Tsoligkas Discussant: Seraina Anagnostopoulou |
What does not kill us makes us stronger: the story of discouraged borrowers Authors: Mustafa Caglayan, Oleksandr Talavera, Lin Xiong Discussant: Sofia Anyfantaki |
Manager Characteristics and Credit Derivative Use by U.S. Corporate Bond Funds Authors: Dominika Galkiewicz, Li Ma Discussant: Vladimiro Marini |
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| Financial statement comparability and default risk Authors : Dionysia Dionysiou, Paul Andrè, Ioannis Tsalavoutas Discussant : Zhong Chen |
Follow - on equity crowdfunding Author: Aristogenis Lazos Discussant: Theodosis Kallenos |
CEO Overconfidence and the Probability of Corporate Failure: Evidence from the UK Authors: Jingsi Leng, Aydin Ozkan, Neslihan Ozkan,Agnieszka Trzeciakiewicz Discussant: Phill Holmes |
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| 10:00 - 10:30 | Coffee Break | ||
| 10:30 - 12:15 | Session 6: IPO Perfomance |
Session 7: The role of sentiment in financial markets |
Session 8: Shipping Finance |
| Chair: Paulina Roszkowska | Chair: Phil Holmes | Chair: Photis Panayides | |
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Underwriter Error and IPO Long-run Performance Authors: George Loizides, Andreas Charitou, Irene Karamanou Discussant: Fanis Tsoligkas |
Investor sentiment, stock returns, and the role of the market regime Authors: Wenzhao Wang, Chen Su, Darren Duxbury Discussant:Winifred Huang |
Investment Efficiency in the Transportation Industry Authors: George Alexandridis, Kwok Wai Fung , Ilias D. Visvikis Discussant: Dimitris Tsouknidis |
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| Private Equity Fundraising Pressure and Earnings Management in IPOs Authors: Dan Zhou, Wasim Ahmad, Ranko Jelic Discussant: Geoffrey Wood |
Do closed-end fund investors herd? Authors: Vasileios Kallinterakis , Yueting Gui, Bartosz Gebka Discussant: Thanos Verousis |
Disentangling demand and supply shocks in the shipping freight market: their impact on net contracting Authors: Nikos Nomikos, Dimitris Tsouknidis Discussant: Giovanni Satta |
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| Pension Funds and IPO Pricing. Evidence from a Natural Experiment Authors: Paulina Roszkowska, Lukasz Langer, Piotr Langer Discussant: Georgios Panos |
Analyst recommendation revisions, sentiment and institutional herding Authors: Jiaqi Guo, Phil Holmes, Ali Altanlar Discussant: Nikolaos Floropoulos |
Volatility spillovers and sentiment across shipping freight markets Authors: Konstantinos Melas, Photis Panayides, Dimitris Tsouknidis Discussant: Kwok Wai Fung |
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| 12:15 - 13:30 | Lunch | ||
| 13:30 - 15:15 | Session 9: CEO Behaviour and Crash Risk |
Session 10: Asset Pricing |
Session 11: Banking and Corporate Finance |
| Chair: Halit Gonenc | Chair: Nikolas Topaloglou | Chair: Peter Cincinelli | |
| Management team incentive heterogeneity and stock price crash risk Authors: Yeqin Zeng, Yiwei Li Discussant: Aristogenis Lazos |
Robust Optimization of Forecast Combinations Authors: Thierry Post, Selçuk Karabatı, Stelios Arvanitis Discussant: Efthymios Pavlidis |
Corporate governance, Islamic governance and financial flexibility Authors: Thanos Verousis, Aly Salama, Abdullah Aljughaiman Discussant: Lu Xing |
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| Stakeholders and the Stock Price Crash Risk: What Matters in Corporate Social Performance? Authors: Mohammed Zakriya, Ariadna Dumitrescu Discussant: Jianhua Zhang |
Stochastic bounds for portfolio analysis Authors: Sofia Anyfantaki, Stelios Arvanitis, Nikolas Topaloglou, Thierry Post Discussant: Jon Danielsson |
Better safe than sorry. Which governance characteristics are most important in curbing banks' risk taking and driving performance? Authors: Marina Brogi, Valentina Lagasio Discussant: Oleksandr Talavera |
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Managerial effort and asymmetry in CEO compensation with Macroeconomic Fluctuations |
Re-assessing Stock Market Anomalies Using a Stochastic Spanning Framework Author: Nikolas Topaloglou Discussant: Stelios Arvanitis |
The effects of the financial crisis and the role of Stress Tests on banks accounting discretion Authors: Peter Cincinelli, Domenico Piatti Discussant: Valentina Lagasio |
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| 15:15 - 17:00 | Free time | ||
| 17:00 - 18:15 | Keynote Address Awards Ceremony |
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| 18:15 - 23:00 | Mini Excursion & Gala Dinner | ||
Tuesday 16 April, 2019
| 08:00 | Registration | ||
| 08:45 - 11:00 | Session 12: Accounting and Finance: Awareness, Capability, and CSR |
Session 13: Risk, uncertainty and real options |
Session 14: Managers' Behaviour |
| Chair : Georgios Panos |
Chair : Tarik Driouchi |
Chair : Geoffrey Wood | |
| The Effect of Institutional Ownership on Firms' Thrust to Compete Authors: Panayiotis Andreou, Franco Fiordelisi, Terry Harris, Dennis Philip Discussant: Monika Tarsalewska |
Taking more risk tomorrow: Time horizons and investment decisions Authors: Marc Oliver Rieger, Trang Minh Nguyen, Benjamin Schnur, Mei Wang Discussant: Nicos Koussis |
Informative Quarterly Earnings Guidance and Real Earnings Management Authors: Facundo Mercado, Beatriz Garcia-Osma, Encarna Guillamon-Saorin Discussant : Fan Hong |
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| Accounting Conservatism and Corporate Social Responsibility Authors: Seraina Anagnostopoulou, Andrianos Tsekrekos, George Voulgaris Discussant: Juan Manuel Garcia Lara |
Financial hedging and corporate investment: Evidence from mergers and acquisitions Authors: George Alexandridis, Zhong Chen, Yeqin Zeng Discussant: George Loizides |
When Does the Board Blame the CEO For Poor Firm Performance? Extreme Resource Reallocation and the Board’s Industry and CEO Experience Authors:Christodoulos Louca, Andreas Petrou, Andreas Procopiou Discussant: Mohammed Zakriya |
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| Does Cooperation among Women Enhance or Impede Firm Performance? Authors : Lu Xing, Angelica Gonzalez, Vathunyoo Sila Discussant : Christodoulos Louca |
Unlocking the value of real options: How firm-specific learning conditions affect R&D investments under uncertainty Authors: Jan-Michael Ross, Jan Hendrik Fisch Discussant: Ariadna Dumitrescu |
Terrorism Intensity and Acquisitions Authors: Tung Duy Nguyen, Dimitris Petmezas, Nikolaos Karampatsas Discussant: Farida Akhtar |
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| Accounting and financial awareness amongst Scottish teenagers: Home and school complementarity Authors : Georgios Panos, Ken McPhail, Catriona Paisey, Nicholas J. Paisey Discussant : Ioannis Koutras |
Credit line pricing under debt and equity holders differences in risk beliefs Authors: Nicos Koussis, Spiros H. Martzoukos Discussant: Mei Wang |
Firm’s innovation lifecycle and board critical mass impact on ‘Glass cliff Phenomenon’ Author: Farida Akhtar Discussant: Stephen Gong |
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| 11:00 - 11:30 | Coffee Break | ||
| 11:30 - 12:45 | Keynote Address |
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| 12:45 - 14:00 | Lunch | ||
| 14:00 - 15:45 | Session 15: Financial analysts and firm disclosure |
Session 16: Asset Pricing |
Session 17: Firm Policies and CEO Compensation |
| Chair: Anastasia Kopita | Chair: Abderrahim Taamouti | Chair: Shuxing Yin | |
| Analysts’ recommendations credibility: what can target prices tell us Authors: Zacharias Petrou, Andreas Charitou, Irene Karamanou Discussant: Winifred Huang |
Speculative Dynamics in the Chinese Stock Market: Evidence from Cross-Listed Securities Authors: Kostas Vasilopoulos, Efthymios Pavlidis Discussant: Bo Liu |
CFOs tournament incentives and firm cash holdings Authors: Yiwei Li, Xiu-ye Zhang Discussant: Halit Gonenc |
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| The analyst report’s forecast horizon and bias Authors: Nikolaos Floropoulos, Andreas Charitou, Irene Karamanou, M. H. Franco Wong Discussant: Anastasia Kopita |
Hedging demand in long-term currency carry trade asset allocation problems Author: Jose Olmo Discussant: Yexiao Xu |
Financial Distress Risk and Stock Price Crashes Authors: Christoforos Andreou, Panayiotis Andreou, Neophytos Lambertides, Photis Panayides Discussant: Agnieszka Trzeciakiewicz |
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| Capital market consequences of Integrated Reporting: Evidence from research analysts Authors: Anastasia Kopita, Diogenis Baboukardos Discussant: Zacharias Petrou |
Quantile Consumption-Capital Asset Pricing Model Authors: Abderrahim Taamouti, Sofia Ramos, Helena Veiga Discussant: Nikolas Topaloglou |
The Effects of Social Network and Corporate Governance on Spatial Correlation in CEO Compensation Authors: Stephen Gong, Lina Shi, Xingang Wang Discussant: Marina Magidou |
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| 15:45 - 16:15 | Coffee Break | ||
| 16:15 - 18:00 | Session 18: Financial Risks |
Session 19: Financial Reporting |
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| Chair: Elena Kalotychou | Chair: Ioannis Tsalavoutas | ||
| A semi-parametric default forecasting model Authors: Zenon Taoushianis, Spiros Martzoukos, Chris Charalambous Discussant: Jose Olmo |
Information Asymmetry, Agency Costs, and Payout Policies: An International Analysis of IFRS Adoption and the Global Financial Crisis Authors: Wolfgang Bessler, Halit Gonenc, Mario Hernandez Tinoco Discussant: Dionysia Dionysiou |
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| The Fed and the Stock Market: A Tale of Sentiment States Authors: Alexandros Kontonikas, Daniel Hung, Haifeng Guo Discussant: Christoforos Andreou |
FSAP Directives and Stock Market Herding Authors: Samah El Hajjar, Darren Duxbury, Bartosz Gebka, Chen Su Discussant: Shuxing Yin |
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| Global risk aversion and shock transmission Author: Jon Danielsson Discussant: Alexandros Kontonikas |
Financial Reporting Aggressiveness, Tax Reporting Aggressiveness, and International Financial Reporting Standards Authors: Feng Zhan, Hong Fan Discussant: Ioannis Tsalavoutas |
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| 18:00 - 18:30 | Farewell drink at the bar and pool terrace | ||