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Previous Seminars

Fall 2023



Presenter and topic

 Organizing Group

September 14

Credit Rating under Ambiguity
Stefan Hirth, Aarhus University


September 21

Liquidity Forecasts and Stock Returns
Claus Schmitt, Erasmus University


October 12

Danish Finance Institute annual meeting


October 26

Use of Proceeds in Private Equity-Backed Initial Public Offerings
Benjamin Hammer, Lancaster University


October 27

SDU Honorary Doctor of 2023:
Being at the Right Place at the Right Time
Thomas Hemmer, Rice University


November 2

Trade Credit in the Digital Age: The Role of Cybersecurity Risk
Yanlei Zhang, CBS


November 9

High Frequency Traders without Trading
Darya Yuferova, NHH


November 23

Philipp Schreck, Martin Luther University Halle-Wittenberg



Spring 2023



Presenter and topic

 Organizing Group

June 19

Moral Hazard and The Value of Information: A Structural Approach / Ethical Noise
Jeremy Bertomeu, Washington University in St. Louis


June 8

Navigating Through the Noise: The Effect of Color-Coded Performance Feedback on Decision-Making
Victor Maas, University of Amsterdam


May 25

Conservative Holdings, Aggressive Trades: Ambiguity, Learning, and Equilibrium Flows
Thomas Dangl, Universität Wien


May 10

Voluntary Disclosure in the Presence of Potentially Fake Public News
Ilan Guttman, New York University


April 27

A Principal-Agent Framework for Optimal Incentives in Renewable Investments
Annika Kemper, Bielefeld University


February 15

Contracting on Value
Jonathan Bonham, University of Chicago


Fall 2022



Presenter and topic

 Organizing Group

November 24

Lieske Coumans
Tilburg School of Economics and Management

Robust Hedging of Terminal Wealth under Interest Rate Risk and Inflation Risk


November 3

Leyla Yusifzada
Aarhus University

How does subordinated debt affect the cost of capital for banks?


September 29

Jeremiah W. Bentley
University of Massachusetts Amherst
Show me the money! Supply and demand misalignment for tangible rewards in business



Spring 2022

Feb 24

Eva Labro
UNC Kenan-Flagler Business School
Managing Employee Retention Concerns: Evidence from US Census Data

May 5

Jake Zureich
Tilburg University
Do public disclosures of physician performance improve patient care? The role of behavioral factors

 June 16

Iván Marinovic
Stanford University
Cancel Culture and Social Learning

Autumn 2021

Sept 9

Jana Holze (Leibniz Universität Hannover)

Sept 29


Markus Nöth (University of Hamburg)
“Disruption Opportunities: Cab Drivers’ Target-focused and Optimizing Behavior”

Oct 7

DFI Annual Conference

Oct 14

Wei Wu (Texas A&M)

Oct 28

Yehuda Izhakian (NYU Stern)

 Nov 4

Marcin Kacpercyk (Imperial College London)

 Nov 11

Nordic Accounting Conference

 Nov 18

Florian Heider (European Central Bank)

Spring 2021

March 4

Julian Thimme, Karlsruhe Institute of Technology (KIT)

April 8

Alexander Hillert, Goethe University Frankfurt

April 22

Christian Heyerdahl-Larsen, Kelley School of Business, Indiana University

May 6

DFI retreat

 June 3

6th SDU Finance Workshop

Fall 2020


November 12

Criminals, Bankruptcy, and Cost of Debt
Kasper Regenburg Jønsson, CBS 

November 13

The Impact of Joint Risk Disclosure on Auditor Liability: Evidence from China
Jiahe Liu, University of Texas at El Paso

 Spring 2020  

March 5

Marcus Opp (Stockholm School of Economics): "Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Eliminating Capital Requirements"

June 11

5th SDU Finance Workshop


March 14

Markus Schmid, St. Gallen
As California goes, so goes the nation? The impact of board gender quotas on firm performance and the director labor market

April 4

Jan Wrampelmeyer, VU Amsterdam
Liquidity Risk and Funding Cost

April 11

Grzegorz Pawlina, Lancaster University

May 9

Kim Peijnenburg, EDHEC

June 25

Naomi Soderstrom, University of Melbourne
Digital Insiders and Informed Trading before Earnings Announcement

September 23

Ilan Cooper, BI Oslo

October 3

Julien Cujean, University of Bern. Endogenous Knowledge Cycles and Corporate Investment

October 24

Henry Jarva, Aalto University. Has financial reporting quality converged under IFRS? International differences in conditional conservatism

November 7

Markku Kaustia, Aalto University

November 21

Peter Schäfer, Technische Universität München. Relative Performance Evaluation, Strategic Differentiation and Endogenous Correlation Levels

November 26

Nikolaj Kirkeby Niebuhr, Aarhus University. Managerial Overconfidence, Conservatism and Self-Reported Success

December 5

 Andrea Gamba, University of Warwick. Debt covenants and the value of commitment

December 16

Sebastian Kronenberger, Leibniz University Hannover.  Trade-offs in the Design of Fair Value Standards


February 28

Martin Holzhacker, Michigan State University

March 22

Evgeny Lyandres, Boston University
Owners' portfolio diversification and firm investment: Theory and evidence from private and public firms

April 26

Ralf Elsas, LMU
The dark side of short-selling

May 3

Tim Adam, HU Berlin

May 9

Michael Zierhut, HU Berlin
The Arbitrage Pricing Theory in Incomplete Markets

May 17

Christopher Hennessy, London Business School
Beyond random assignment: Credible inference of causal effects in dynamic economies

May 23

Christian Wagner, CBS
What is the expected return on a stock?

June 25

Stefan Schantl, University of Melbourne
Corporate Fraud, Public Enforcement, and the Dual Role of Investor Litigation

September 6

Howard Kung, London Business School
Size Premium Waves

September 20

Silvio Vismara, University Bergamo

October 4

Alexander Szimayer, University Hamburg
Information Asymmetry and Bond Prices

October 25

Honorary Doctorate Professor at SDU in 2018 Anil Arya, Ohio State University
Implications of Dual Distribution Channels

October 31

Nicole Branger, University Münster

November 8

Daniel Metzger, Stockholm School of Economics

November 15

3rd SDU Finance Workshop

November 16

Frank Zhou, University of Pennsylvania
Management Forecasts and Competition for limited investors

December 6

Peter Feldhütter, Copenhagen Business School



April 6

Angelo Ranaldo, University of St. Gallen
Explaining the Failure of the Expectations Hypothesis with Short-Term Rates

April 20

Günter Strobl, Frankfurt School of Finance & Management
Credit Ratings: Strategic Issuer Disclosure and Optimal Screening

May 17

Angelo Ditillo, Bocconi University
Management Control Systems for Creative Teams: Managing Stylistic Creativity in Fashion Companies

May 18

Martin Ruckes, KIT
Collateral in Corporate Financing

June 2

Hui Chen, University of Zürich
Misreporting and Feedback Effect

September 7

Tim Kroencke, University of Basel
How does the equity premium respond to monetary policy, and why?

September 28

Linda Sandris Larsen, Copenhagen Business School
Consumption-smooting with Interest-Only Mortgages?

October 12

Joseph Gerakos, Tuck School of Business at Dartmouth
Prediction versus inducement and the informational efficiency of going concern opinions

October 20

Thomas Hemmer, Rice University
Income Smoothing as Rational Equilibrium Behavior? A Second Look

October 26

Boris Nikolov, University of Lausanne

November 2

Ran Sun Lyng, Aarhus University

November 16

2nd SDU Finance Workshop

December 14

Marcel Fischer, University of Konstanz
Spillover Effects in Residential House Prices



March 17

Dong Yan, SSE
Do Private Firms (Mis)Learn from the Stock Market?

March 31

Sakshi Girdhar, Groningen
Practice Variation in Big-4 Transparency Reports

April 21

Esben Christensen, LBS
Adjustable- or Fixed-rate Mortgages? Optimal Mortgage Choice with Idiosyncratic Income Risk

May 12

Paulo Maio, Hanken
New evidence on conditional factor models

May 17

Shannon W. Anderson, UC Davis
Evidence for the Decision-facilitating Feedback Role of Performance Measurement Systems

September 8

Matthias Mahlendorf, Frankfurt School of Finance and Management
Relative Performance Evaluation and the Ratchet Effect
Joint seminar with SOD, IMM

September 22

Martin Artz, Frankfurt School of Finance and Management
Joint seminar with SOD, IMM 

September 30

Diane Pierret, HEC University of Lausanne
Lender of Last Resort versus Buyer of Last Resort – Evidence from the European Sovereign Debt Crisis

December 1

1st SDU Finance Workshop

December 1

Ron Giammarino, UBC Sauder School of Business
Ambiguity and Corporate Finance

December 15

Sandra Kukec, Leibniz Universität Hannover
Board Independence and Managerial Oversight in Dynamic Agency



March 12

Laurent Calvet, HEC Paris
Who are the value and growth investors?

April 23

Johann Reindl, BI Norwegian Business School
Deleveraging Via Asset Sales: Agency Costs, Taxes, and Government Policies

June 1

Steve Huddart,  Smeal College of Business at Penn State University
Drs. Blackwell & Markov Infer Value from Accounting Signals

June 1

Stefano Giglio, Chicago Booth School of Business
The price of variance risk

June 3

Ramona Westermann, CBS
Debt covenant renegotiation and investment

August 27

Lars Peter Hansen, University of Chicago
Sets of Models and Prices of Uncertainty

September 17

Isabel Casas, University of Southern Denmark
Time varying GLS VAR: application to financial data

October 22

Naomi Soderstrom, University of Melbourne
In Search of Money and Fame: Narcissistic Managers and MCS Incentive Design

October 29

Karin Thorburn, NHH Bergen
Are stock-financed takeovers opportunistic?

November 12

Francisco Gomes, London Business School
Background expenditure risk: Implications for household finances and psychological well-being

December 3

Daniel A. Rettl, Humboldt University of Berlin
The stability of dividends and wages: effects of competitor inflexibility



March 19

Jarrad Harford, University of Washington
Mergers that Matter: The Value Impact of Economic Links

April 2

Jungsuk Han, Stockholm School of Economics
Contractual Incompleteness, Limited Liability and Bubbles

May 8

Naciye Sekerci, Lund University
Corporate Investment in Swedish Family Firms: Do Investment Horizon and Diversification Level of Family Owners Matter

May 22

Holger Kraft, Goethe University Frankfurt
Asset pricing and consumption-portfolio choice with recursive utility and unspanned risk

June 3

Jochen Lawrenz, University of Innsbruck

September 4

Eva Ferreira, University of the Basque Country
Time Varying Stock Market Comovements in Europe

September 25

Mia Hinnerich, Stockholm Business School
Modelling and Forecasting the Term Structure of Futures Prices

October 2

Frank Moers, Maastricht University School of Business and Economics
Implicit incentives for human capital acquisition 

October 30

Morten Sørensen, Columbia Business School and Copenhagen Business School
Skill and Luck in Private Equity Performance

November 6

Jonathan Glover, Carnegie Mellon University
Team Incentives with Non-Verifiable Performance Measures

November 20

Albert Menkveld, VU University of Amsterdam
Should Fast Money in Crowded Trades Be Avoided?

December 4

Jesper Rangvid, CBS
Global economic growth and expected returns around the world



February 4

Sergey Tsyplakov, University of South Carolina
Incentive Effects of Contingent Capital

March 11

Kasper Larsen, CMU
Incomplete Continuous-time Securities Markets with Stochastic Income Volatility

March 20

Geir Bjønnes, BI
Sources of Information Advantage in the Foreign Exchange Market

April 4

Alexey Rubtsov, Aarhus University
Portfolio management with stochastic interest rates and inflation ambiguity

April 9

Ilan Cooper, BI
The Expected Returns and Valuations of Private and Public Firms

April 24

Lu Liu, Lund University
A spatial analysis of international stock market linkages

May 14

Henrik Hasseltoft
Aggregate news tone, stock returns, and volatility

May 29

Thomas Kokholm, Aarhus University
Pricing and Hedging Derivatives in Contagious Markets

May 31

Kim Pettersson, Copenhagen Business School
Auditor liability caps and economic consequences/efficacy

June 14

Marliese Uhrig-Homburg, Karlsruhe Institute of Technology
A Heterogeneous Agents Equilibrium Model for the Term Structure of Bond Market Liquidity

September 11

Yves Rannou, Univeristy of Poitiers
Influence of heterogeneous traders beliefs and information asymmetry in European carbon markets: A limit order book investigation

September 18

Florin Sabac, University of Alberta
On the Stewardship Value of Soft Managerial Reports

September 19

Hans B. Christensen, University of Chicago
Is Knowledge Power? The Effects of Price Transparency Regulation on Prices in the Healthcare Industry

October 24

Katarina Kvasnakova, Vienna Graduate School of Finance
Is Imperfection Better? Evidence from Predicting Stock and Bond Returns

November 12

Peter Feldhütter, London Business School
The Credit Spread Puzzle – Myth or Reality?

November 20

Hong Liu, Washington University in St.Louis, Olin Business School
Short-sale Constraints, Bid-Ask Spreads, and Information Acquisition



February 2

Hae Wong Jung
CEO talent, CEO compensation, and product market competition

February 16

Afrasiab Mirza
Illiquidity, fire-sales and capital structure

March 8

Marliese Uhrig-Homburg, Karlsruhe Institute of Technology
Sovereign credit risk

March 13

Grzegorz Pawlina, Lancaster University
External monitoring, managerial entrenchment and corporate cash holdings

March 15

Chris Chapman, Imperial College, London
Designing effective cost systems for cost management: Evidence from the Field

March 27

Hening Liu, University of Manchester
Ambiguity Aversion and Asset Prices in Production Economies

June 13

Helene Samyschew, Europa-Universität Viadrina, Frankfurt (Oder)
Global risk premia and sentiment

September 11

David Lando, Copenhagen Business School
Financial Sector Linkages and the Dynamics of Bank and Sovereign Credit Spreads

October 10

Sandy Suardi, La Trobe University, Melbourne
Factor Reversal in the Euro Zone Stock Returns: Evidence from the Crisis Period

October 25

Naomi Rothenberg, University of Memphis
Communication and Information Sharing in Teams

November 6

Christian Heyerdahl-Larsen, London Business School
Disagreement about Inflation and the Yield Curve

Last Updated 14.02.2024