INFINITI 2010 Conference at TCD: International Credit and Finance Markets: After the Storm?

The largest finance conference in Ireland returns for its eight year; The INFINITI Conference on International Finance will be held at TCD from 14th-15th June.

In addition to the keynote and special sessions, there are over 166 papers being presented. Full details including registration are available here.

Highlights of the conference include

• Opening address by Professor Patrick Honohan, Governor of the Central Bank of Ireland (Monday 14 June)
• Roundtable on Property and Real Estate Investment, Monday 14 June, afternoon with lead speaker Professor Simon Stevenson, Director of Center for Real Estate Studies, City University Business School, London, and panel members Derek Brawn, Constantin Gurdgiev, and Peter Matthews.

• Roundtable on Investment in a Post Crisis World, Tuesday 15 June, Afternoon. Sponsored by the CFA Institute Ireland, this roundtable features: “An Update on Latest Trends in Fund Offerings” by David Hammond, CFA, Bridge Consulting,  “Major Challenges in Allocations to Irish and Emerging Markets’ Equities, Liquidity Risk and Product Innovation: The Perspective of a Pension Fund Trust” by Stephanie Condra, CFA,  Invesco Pension Consultants,   “An Update on Current Issues in the EU Government Bond Market” by Catherine McLaughlin, CFA, Irish Life and “Role of the CFA Institute and CFA Ireland in the Changing World” by Oliver McClure, CFA
• Roundtable on The Structure of the Emerging Bond Market, organized by the OECD Development Centre in collaboration with the Pontifical Catholic University of Argentina Graduate Business School. It will bring together three recent papers on the micro-structure and pricing of emerging bond markets.

166 research papers on a vast array of international financial topics. Highlights include

·         Monday

§          The Politics of Financial Development: The Role of Interest Groups and Government Capabilities, Eduardo Cavallo, InterAmerican Development Bank,  Session 1d

§          Systematic Risk, CDS Spread and Market Integration: An Empirical Investigation, Maurice Peate, University of Sydney,  Session 1e

§          Do trading volumes explain the persistence of volatility effects?, Colm Kearney, Trinity College Dublin, session 1j

§          Sudden stops: Are global and local investors alike? Cesar Calderon, World Bank, Session 2f

§          Exchange exposure and corporate governance in US firms, Elaine Hutson, UCD, Session 2g

§          The Influence of Buy-side Analysts on Mutual Fund Trading, Stefan Frey, University of Tuebingen, Session 3c

§          Finance, Development & Institutions, A closer look at financial development and inequalities,  Thomas Lagoarde-Segot, EuroMed Business School , Session 3d

§          Investing in local currency bond markets, Francis Warnock, University of Virginia, NBER, and IIIS, Session 3f

·         Tuesday

§          Remapping Credit Ratings, Manuel Lingo, Bank of Austria, Session 4b

§          A study of the causal relationships between sovereign CDS spreads, risk-fre interest rates and exchange rates, Yang Liu, University of Bath, Session 4f

§          The Impact of Macroeconomic Announcements on Real Time Foreign Exchange Rates in Emerging Markets, Fang Cai, Federal Reserve Board, Session 5c

§          A Tale of Two Strategies: Cash Flow, Accruals and the Role of Investor Sentiment, Ron Guido, State Street Global Advisors, Session 5b

§          Credit Euroization in Central, Eastern and Southeastern Europe, Wolfgang Rainer, Vienna University of Economics, Session 6a

Keynote Speaker: Monday

Bill Megginson, Michael F Price College of Business, The University of Oklahoma, USA

“The Value of Investment Banking Relationships: Evidence from the Collapse of Lehman

Brothers”

The paper investigates whether existing investment banking relationships have value for the clients. The conclusion is that Client losses were severe, especially severe for companies that had undertaken a larger number of equity  offerings in the past 10 years with Lehman as lead underwriter and those that were smaller, younger, and  more financially constrained. No other client groups were adversely affected. Conclusions for the investment banking business are examined.

Keynote Speaker : Tuesday

Edward J Kane, Boston College and NBER USA

“Post-Crisis Financial Reform as Denial and Coverup”

The paper examines the ways that national safety nets subsidize leveraged risk-taking.Subsidies encourage firms both to take hard-to-monitor risks and to make themselves politically, administratively, and economically difficult for government officials to fail. The presentation underscores the incentive conflicts that led creditors and internal and external supervisors to short-cut and outsource their due diligence. Unless proposed reforms adequately address these conflicts, safety nets will continue to expand and their expansion will undermine financial stability by generating large interim rewards for creative and aggressive risk-takers.

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