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New Developments in Long-Term Asset Management
Conference
Monika
Piazzesi and Luis M. Viceira,
Organizers
May 19-20, 2017
Supported by Norges Bank Investment Management
The Montague on the Gardens
15 Montague Street
London, WC1B 5BJ
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Friday, May 19
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11:45 am
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Introductory Remarks
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12:00 noon
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Marcin Kacperczyk,
Imperial College
Emiliano Pagnotta, Imperial College
Chasing
Private Information
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Discussant:
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Dong Lou, London School of
Economics (slides)
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1:00 pm
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Lunch
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2:00 pm
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Nicolae B. Gârleanu, University of California at Berkeley and NBER
Lasse H. Pedersen, Copenhagen Business School
Efficiently
Inefficient Markets for Assets and Asset Management
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Discussant:
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Dimitri Vayanos,
London School of Economics and NBER
(slides)
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3:00 pm
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Break
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3:15 pm
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Matthijs Breugem, Frankfurt School of Finance and Management
Adrian Buss, INSEAD
Institutional
Investors and Information Acquisition: Implications for Asset Prices and
Informational Efficiency
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Discussant:
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Anna Pavlova, London Business
School (slides)
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4:15 pm
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Break
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4:30 pm
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Panel on the Future of the Corporation
Chair: James Poterba, Masssachusetts Institute of
Technology and NBER
Lynn Forester de Rothschild, E.L. Rothschild, LLC and CEO of the Coalition
for Inclusive Capitalism
Colin Mayer, Univerrsity of Oxford
Dominic Rossi, Fidelity International
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6:00 pm
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Transportation to the Royal Society
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6:45 pm
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Reception and Dinner at the Royal Society
Welcome: Egil Matsen,
Deputy Governor, Norges Bank
Speaker: Robert C. Merton, Massachusetts Institute of Technology and NBER
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Saturday, May 20
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8:00 am
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Breakfast
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8:30 am
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Gabriel Chodorow-Reich,
Harvard University and NBER
Andra C. Ghent, University of Wisconsin - Madison
Valentin Haddad, University of California at Los Angeles and NBER
Asset
Insulators
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Discussant:
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Bo Becker, Stockholm School of
Economics (slides)
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9:30 am
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Break
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9:45 am
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Anton Lines, London Business School
Do
Institutional Incentives Distort Asset Prices?
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Discussant:
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Christopher Polk, London School
of Economics (slides)
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10:45 am
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Break
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11:00 am
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Marco Di Maggio, Harvard University and
NBER
Francesco Franzoni, Swiss Finance Institute
Amir Kermani, University of California at
Berkeley and NBER
Carlo Sommavilla, Swiss Finance Institute &
USI
The
Relevance of Broker Networks for Information Diffusion in the Stock Market
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Discussant:
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Peter Kondor, London School of
Economics (slides)
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12:00 noon
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Lunch and Panel on Long-Term Returns
Chair: Monika Piazzesi, Stanford University and
NBER
Elroy Dimson, Cambridge University (slides)
Lasse H. Pedersen, Copenhagen Business School (slides)
Luis M. Viceira, Harvard University and
NBER (slides)
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1:15 pm
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Break
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1:30 pm
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Kevin Pan, Harvard University
Yao Zeng, University of Washington
ETF
Arbitrage under Liquidity Mismatch
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Discussant:
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Francesco Franzoni,
Swiss Finance Institute (slides)
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2:30 pm
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Erik Stafford, Harvard University
Replicating
Private Equity with Value Investing, Homemade Leverage, and
Hold-to-Maturity Accounting
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Discussant:
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Ludovic Phalippou, University of Oxford (slides)
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3:30 pm
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Adjourn
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