Convegno Financial Innovation and Market Dynamics The Role of Securities Regulation

 

Università Bocconi
Milan, 2012 February 10th

Welcome address

Francesco Saita
CAREFIN Università Bocconi

Vittorio Conti
CONSOB


Keynote Speech

Rainer Masera
Università degli Studi Guglielmo Marconi


Session I - Secondary Markets
Chair: Francesco Corielli, Università Bocconi

Liquileaks
Albert J. Menkveld, Ting Wang (paper - presentation)
Discussant: Luca Filippa, FTSE

The Impact of Fragmentation on the European Stock Exchanges
Monica Gentile, Simone F. Fioravanti (paper - presentation)
Discussant: Barbara Alemanni, Università degli Studi di Genova


Session II - Systemic Risk
Chair: Donato Masciandaro, Paolo Baffi Centre Università Bocconi

Econometric Measures of Systemic Risk in the Finance and Insurance Sectors
Monica Billio, Loriana Pelizzon, Mila Getmansky, Andrew W. Lo (paper - presentation)
Discussant: Francesco Corielli, Università Bocconi

Analyst Forecast and Bank Risk
Mario Anolli, Elena Beccalli, Philip Molyneux (paper - presentation)
Discussant: Giuliano Iannotta, Università Bocconi


Session III - Portfolio Choices
Chair Giovanni Siciliano CONSOB

Optimal Life-Cycle Portfolios for Heterogenous Workers
Fabio C. Bagliano, Carolina Fugazza, Giovanna Nicodano (paper - presentation)
Discussant:  Mario Padula, Università Ca' Foscari Venezia

Financial Literacy and the Demand for Financial Advice
Chiara Monticone, Riccardo Calcagno (paper - presentation)
Discussant: Nadia Linciano, CONSOB


Session IV - Financial Innovation
Chair: Carlo Favero, Università Bocconi

Are There Benefits to Being Naked? The Returns and Diversification Impact of Capital Structure Arbitrage
Giovanni Calice, Jing Chen, Julian Williams (paper - presentation)
Discussant: Giovanni Puopolo, Università Bocconi

Pricing CDOs in a Multi-Factor Setting by a Moment Matching Approach
Antonio Castagna, Fabio Mercurio, Paola Mosconi (paper - presentation)
Discussant: Umberto Cherubini, Università di Bologna


Concluding Remarks

Marco Onado, Università Bocconi