ACADEMIC

PROGRAM 2018

August, 29th – September, 1st

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August, 29th

 When What Where
  7.30 pm Welcome drink Caffetteria del Palazzo dei Musei
Via Vittorio Veneto 5, Modena

August, 30th

 When What Where
 08.15 – 09.00 am  Registration Marco Biagi Foundation, Largo Marco Biagi 10
 09.00 – 09.15 am Welcome Greetings:

Elisabetta Gualandri – Professor of Banking and Finance, University of Modena and Reggio Emilia – Conference Chair
Riccardo Ferretti – Pro-rector, University of Modena and Reggio Emilia
Cesare Bisoni – Professor Emeritus of Banking and Finance, University of Modena and Reggio Emilia – Founding Father, Wolpertinger Club
Pietro Ferrari – Chairman, BPER Banca
Jonathan Williams – Professor of Banking and Finance, Bangor University – Chairman of the Management Committee, Wolpertinger Club
 09.15 – 10.45 am Plenary session – “Banking Union: experience so far and future prospects”
Salvatore Rossi, Senior Deputy Governor of Bank of Italy
Mauro Grande, Board Member of the Single Resolution Board
 10.45 – 11.00 am Coffee Break
 11.00 am – 1.00 pm Parallel Session 1A/1B (*)

Parallel Sessions  1A/1B (*)

Session 1A

11.00 am -1.00 pm
Session 1B

11.00 am -1.00 pm
“Financial Intermediation”

Session Chair: Claudia Girardone – Essex Business School, University of Essex
“Corporate governance in banking”

Session Chair: Jonathan Williams – Bangor Business School, Bangor University
“The real effects of bank taxation”
Dimitris K. Chronopoulos, Anna L. Sobiech, John O.S. Wilson
Discussant: Riccardo Ferretti		 “Realized Bank Risk and Financial Misconduct: Evidence from US Banks”
Yener Altunbaş, John Thornton, Yurtsev Uymaz
Discussant: Timothy King
“The strategic use of market power”
Saverio Stentella Lopes, Marco Pelliccia
Discussant: John O.S. Wilson		 “Board diversity reforms: do they matter for EU bank performance?”
Francesca Arnaboldi, Barbara Casu, Eleni Kalotychou, Anna Sarkisyan
Discussant: Fatima Cardias Williams
“Determinants of net interest margin: the effect of capital and deposit requirements”
Paula Cruz-Garcia, Juan Fernández de Guevara
Discussant: Doriana Cucinelli		 “The impact of banks’ net regulatory burden on financial supply-chains”
Viktor Elliot, Magnus Willesson
Discussant: Elisa Cavezzali
“The determinants of the Bank Business Models’ migrations”
Rym Ayadi, Paola Bongini, Barbara Casu, Doriana Cucinelli
Discussant: Mais Sha’ban		 “Board Diversity, Management entrenchment and risk taking of the European banks”
Elisa Cavezzali, N. Hussain, G. Gardenal, Ugo Rigoni
Discussant: Magnus Willesson
“What explains differences in financial inclusion? A cross-country analysis”
Mais Sha’ban, Claudia Girardone, Anna Sarkisyan
Discussant: Saverio Stentella Lopes		 “Pay for Performance in banking: truth or fiction?”
Fatima Cardias Williams, Jonathan Williams
Discussant: Francesca Arnaboldi
 1.00 – 2.30 pm Lunch Caffetteria del Palazzo dei Musei
Via Vittorio Veneto 5, Modena
 2.30 – 4.00 pm Parallel Session 2A/2B (*) Marco Biagi Foundation, Largo Marco Biagi 10

Parallel Sessions 2A/2B (*)

Session 2A

2.30 pm – 4.00 pm
Session 2B

2.30 pm – 4.00 pm
“Firm’s financing”

Session Chair: Barbara Casu – Cass Business School, City, University of London
“Innovation and SMEs financing”

Session Chair: Daniele Angelo Previati – University of Rome III
“Duration of supplier-customer trade relationship”
Parviz Alizada
Discussant: Federica Salvadè		 “To be or not to be social? The role of online social media in bank profitability”
Elisa Giaretta and Giusy Chiesini
Discussant: Bruno Séjourné
“Bank’s asset quality review using Debt service coverage ratio: a firm perspective”
Federico Beltrame, Maurizio Polato
Discussant: Francesco Pattarin		 “The forgotten ones? The role of platform in equity crowdfunding campaign success”
Stefano Cosma, Alessandro Giovanni Grasso, Francesco Pagliacci, Alessia Pedrazzoli
Discussant: Catherine Deffains-Crapsky
“Financial Fragmentation and SMEs access to finance”
Raffaella Calabrese, Claudia Girardone, Alex Sclip
Discussant: Parviz Alizada		 “Risk Aversion, Loss Aversion, Ambiguity Aversion …What about equity crowdfunders?”
Bruno Séjourné
Discussant: Caterina Lucarelli
“External credit ratings and bank lending”
Christophe Cahn, Mattia Girotti, Federica Salvadè
Discussant: Stefano Filomeni		 “Framing, Overconfidence and Regret in Italian mortgage banking litigations”
Francesco James Mazzocchini, Caterina Lucarelli
Discussant: Paola Vezzani
 4.00 – 4.15 pm Coffee Break Marco Biagi Foundation, Largo Marco Biagi 10
 4.15 – 6.00 pm Parallel Session 3A/3B (*)

Parallel Sessions 3A/3B (*)

Session 3A

4.15 pm – 6.00 pm
Session 3B

4.15 pm – 6.00 pm
“Bank risks and politics”

Session Chair: Javier Quesada – Universitat de València e Ivie
“Stock Market and Emerging Markets”

Session Chair: John O.S. Wilson – University of St Andrews
“Politicians and the sovereign credit ratings”
Patrycja Klusak, Yurtsev Uymaz, Rasha Alsakka
Discussant: Alex Sclip		 “Bank recapitalization in Europe: is a rights issue an offer that shareholders can’t refuse?”
Carlo Chiarella, Elena Cubillas, Nuria Suàrez
Discussant: Paola Brighi
“Political ideology of the board of directors and corporate decision making. An application to the Spanish saving banks”
Pablo de Andrés, Inigo Garcia-Rodriguez, M. Elena Romero-Merino, Marcos Santamarìa-Mariscal
Discussant: Jonathan Williams		 “Dynamics between Bank CEOs’ Pay and Experience: Evidence from Market Shocks”
Timothy King, Abhishek Srivastav, Jonathan Williams
Discussant: Yener Altunbas
“Politics, Elections, and Bank Behaviour”
Rhys ap Gwilym, Shanti Ottemoesoe, Jonathan Williams
Discussant: Patrycja Klusak		 “Interactions and IPO pricing: a stochastic frontier approach”
Marco Cucculelli, Manuela Geranio, Camilla Mazzoli, Sabrina Severini
Discussant: Antonio Focacci
“The Role of Distance and Securitization Decisions of the Swedish Savings Banks”
Natalia Kostitcyna and Viktor Elliot
Discussant: Josanco Floreani		 “Cross-correlation analysis of financialization within international agricultural commodities markets”
Antonio Focacci and Maurizio Musson
Discussant: Sabrina Severini

August, 31st

 When What Where
 08.45 – 10.45 am Jack Revell Session, Round Table – “The Asset Management Industry: developments, challenges and strategic issues”
Marco Onado, Chairman, Department of Finance, Bocconi University
Christian Edelmann, Partner of Oliver Wyman and the Head of Oliver Wyman’s Corporate & Institutional Banking (CIB) and Wealth & Asset Management (WAM) practices
Giuseppe Lusignani, Chairman of Arca Sgr, University of Bologna
Grazia Orlandini, Wealth and Investment Management Department, BPER Banca
Cinzia Tagliabue, CEO Amundi Italia
 Marco Biagi Foundation, Largo Marco Biagi 10
 10.45  – 11.00 am Coffee Break
 11.10 am – 1.00 pm Session 4: “Pitch Session – ACRI Young Researchers”
Session Chair: Andrea Landi – University of Modena and Reggio Emilia
Guest Speaker: Enrico Sangiorgi – University of Bologna and ACRI
 1.00 – 2.30 pm Lunch Caffetteria del Palazzo dei Musei
Via Vittorio Veneto 5, Modena
 2.30 – 4.00 pm Parallel Session 5A/5B (*) Marco Biagi Foundation, Largo Marco Biagi 10

Parallel Sessions 5A/5B (*)

Session 5A

2.30 pm – 4.00 pm
Session 5B

2.30 pm – 4.00 pm
“Financial information, regulation and other issues”

Session Chair: Yener Altunbaş – Bangor Business School, Bangor University
“Fintech and Alternative Financing”

Session Chair: Paola Agnese Bongini – University of Milan, Bicocca
“Central banks; commitment towards stakeholders: CSR in the Eurosystem, 2007-2017”
Vincenzo Farina, Giuseppe Galloppo, Daniele A. Previati
Discussant: Enzo Scannella 		“Herding behavior: Automatic versus Human Investors on Renrendai”
Mustafa Caglayan, Oleksandr Talavera, Wei Zhang
Discussant: Alessia Pedrazzoli
“Credit Risk Disclosure Practices in the Annual Financial Reporting of Large Italian Banks: Empirical Evidences”
Enzo Scannella, Salvatore Polizzi
Discussant: Viktor Elliot		 “Birds of a feather flock together and get money from the crowd”
Valeria Venturelli, Alessia Pedrazzoli, Elisabetta Gualandri
Discussant: Mustafa Caglayan
“The impact of recent regulatory reforms on cross-border banking and international supply chains”
Viktor Elliot, Ted Lindblom, Magnus Willesson
Discussant: René W.H. van der Linden		 “Risk and Pricing on the Italian Minibond Market”
Alessandro Giovanni Grasso, Francesco Pattarin
Discussant: Alessandra Tanda
“The effectiveness of ‘One Belt, One Road’ initiative in tackling China’s economic slowdown and its financial implications in a policy trilemma context”
René W.H. van der Linden and Piotr Łasak
Discussant: Demeh Ahmad Daradkah		 “New directions in startup financing: the case of French banks”
Catherine Deffains-Crapsky
Discussant: Valeria Venturelli
 4.00 – 4.15 pm Cofee Break Marco Biagi Foundation, Largo Marco Biagi 10
 4.15 – 5.45 pm Parallel Session 6A/6B (*)

Parallel Session 6A/6B (*)

Session 6A

4.15 pm – 5.45 pm
Session 6B

4.15 pm – 5.45 pm
“Institutional Investors and other issues”

Session Chair: Stefano Miani – University of Udine
“New topics in banking and finance”

Session Chair: Anabela Sergio – Universidade Lusòfona
“The Determinants of asset management in the banking industry”
Paola Brighi, Andrea Landi, Valeria Venturelli
Discussant: Alex Sclip		 “Interest rate risk management in Jordanian commercial banks”
Demeh Ahmad Daradkah, Haitham Rafie Shinaq
Discussant: Paula Cruz-Garcia
“Leverage patterns in the Italian micro firms”
Alessandra Tanda, Andrea Uselli
Discussant: Federico Beltrame		 “CSR Performance Ratings and The Choice of Payment Method in Takeovers”
Mussa Hussaini, Ugo Rigoni, Paolo Perego
Discussant: Elisa Giaretta
“Bank as a Venture Capitalist”
Kumar Rishabh
Discussant: Viktor Elliot		 “Nobel prize in economic sciences: the role of financial studies”
Gianfranco Vento and Paola Vezzani
Discussant: Mussa Hussaini