Events
5th Annual Bristol/Exeter/Lancaster/Manchester Corporate Finance Conference
8th and 9th September 2016
Hosted by Lancaster University Management School, Co-funded by Centre for the Analysis of Investment Risk (CAIR), Manchester Accounting and Finance Division, Alliance Manchester Business School, University of Manchester, School of Economics, Finance and Management, University of Bristol; Xfi Centre for Finance and Investment, University of Exeter.
Keynote Speaker:
- Paolo Fulghieri, Kenan-Flagler Business School, University of North Carolina; Ambiguity Aversion in Corporate Finance
Invited Speakers:
- Ernst Maug, University of Mannheim: Private Equity and Human Capital Risk
- Erwan Morelec, Swiss Finance Institute: Bank Capital, Liquid Reserves and Insolvency Risk
- Vikram Nanda, University of Texas at Dallas: Managerial Attributes and Market Feedback Effects
- Amiyatosh Purnanandam: University of New South Wales: Strategic under-reporting of Bank Risk
- Renee Adams: University of Michigan: Women in Finance
Home Institution Speakers:
- Selected other presentations can be found on the conference website (see below for details)
Event Organisers:
- Ning Gao, University of Manchester
- Michael Bowe, University of Manchester
- Amedeo De Cesari, University of Manchester
- Neslihan Ozkan, University of Bristol
- Fangming Xu, University of Bristol
- Shantanu Banerjee, Lancaster University
- Grzegorz Pawlina, Lancaster University
- Sudipto Dasgupta, Lancaster University
- Rajesh Tharyan, Exeter University
- Grzegorz Trojanowski, Exeter University
10th IESEG/LSE/MBS Conference: Real Implications of Financial Accounting and Reporting
13th June 2016
The event is an annual conference hosted in 2016 by the London School of Economics co-funded by the Department of Accounting at the London School of Economics and the Centre for the Analysis of Investment Risk at Alliance Manchester Business School.
Invited Speakers:
- Nemit Shroff, Massachusetts Institute of Technology (MIT): Real Effects of Financial Reporting Quality and Credibility: Evidence from the PCAOB Regulatory Regime
- Dennis Oswald, University of Michigan: Capitalization vs Expensing and the Behaviour of R&D Expenditures
- Bjorn Jorgenson, LSE: Rivals' Off-Balance Sheet Disclosures and Investment Decisions: Evidence from the Oil and Gas Industry
- Sterling Huang, Singapore Management University: Trust and Contracting
Event Organisers:
- Vicky Athanasakou,
- Edward Lee, University of Manchester
16th Workshop on Corporate Governance and Investment
10-12th September 2015
This event is the annual highlight of the European Corporate Governance network and was organised, hosted and funded by CAIR in 2015.
Event Organisers:
- Susanne Espenlaub, University of Manchester
- Michael Bowe, University of Manchester
4th Annual Bristol/Lancaster/Manchester Corporate Finance Conference
11th September 2015
Hosted by CAIR, Manchester Accounting and Finance Division, Alliance Manchester Business School, University of Manchester. Co-funded by School of Economics, Finance and Management, University of Bristol, Management School, Lancaster University and Centre for the Analysis of Investment Risk (CAIR) at Alliance MBS, University of Manchester.
The conference is preceded by a one-day Doctoral Colloquium on 10th September 2015.
Keynote Speaker:
- Sudipto Dasgupta, Lancaster University and HKUST: Innovation, social connections and the boundary of the firm
Invited Speakers:
- Daniel Wolfenzon, Columbia University: Family Firm Employees
- Rohan Williamson, Georgetown University: The impact of governance mandates on the evolution of firm value and governance culture
- Merih Sevilir, Indiana University Bloomington: CEO Factories
- Ludovic Phalippou, University of Oxford: Hierarchical agency issues: the case of service agreements in private equity
Event Organisers:
- Ning Gao, University of Manchester
- Michael Bowe, University of Manchester
- Amedeo De Cesari, University of Manchester
- Shantanu Banerjee, Lancaster University
- Neslihan Ozkan, University of Bristol
- Grzegorz Pawlina, Lancaster University
- Fangming Xu, University of Bristol
9th IESEG/LSE/MBS Conference: The Role of Accounting Information in Debt Markets
29th June 2015
The event is hosted by IESEG School of Management, Paris and co-funded by the Department of Accounting at the London School of Economics and the Center for the Analysis of Investment Risk at Alliance Manchester Business School.
Invited Speakers:
- Urska Kosi, University of Vienna
- Florin Vasvari, London Business School
- Anne Beatty, University of Ohio
- Peter Demerjian, Washington University
- Hami Amiraslani, LSE
- Osman Sattar, S&P London
Event Organisers:
- Christof Beuselinck
- Edward Lee
8th LSE/LUMS/MBS Conference
15th September 2014
This event is hosted by LSE.
Invited Speakers
- Martin Walker, Manchester Business School
- Mark Clatworthy, University of Bristol: Auditor Clauses in Debt Contracts
- Craig Lewis, Vanderbilt University and Securities and Exchange Commission: Do Fraudulent Firms Strategically Manage Qualitative Disclosure?
- Paul Rayson & Mahmoud El- Haj, Lancaster University: Natural Language Processing of UK Annual Report Narratives
- Richard Carter, Department for Business, Innovation & Skills (BIS)
- Veronika Koller, Lancaster University: Emotion and rationality in UK annual reports: a semantic domain analysis
- Steven Young, Lancaster University Management School
Event Organisers
-
Dr Vasiliki Athanasakou
- Professor Martin Walker
3rd Bristol/MBS Annual Corporate Finance Conference organized by CAIR
10th September 2014
This event is hosted by School of Economics, Finance and Management, University of Bristol. Co-funded by School of Economics, Finance and Management, University of Bristol and Center for the Analysis of Investment Risk (CAIR) at Manchester Business School.
Keynote Speaker
- B. Espen Eckbo, Tuck School of Business at Dartmouth: Corporate funding and leverage dynamics
Invited Speakers
- Jan Bena, Sauder, University of British Columbia: Determinants of Ownership Structure: Evidence from Product Market Competition
- Alex Edmans, London Business School: Equity Vesting and Managerial Myopia
- Matthew Rhodes-Kropf, Harvard Business School: Governing Misvalued Firms
- R.David McLean, University of Alberta: Massive Debt and Equity Issue
- Sudheer Chava, Scheller College of Business: Georgia Institute of Technology
Event Organisers
- Michael Bowe
- Ning Gao
- Neslihan Ozkan
- Fangming Xu
2nd Bristol/MBS International Corporate Finance Conference
3 September 2013
This event is hosted by CAIR, the Manchester Accounting and Finance Group, Manchester Business School. Co-funded by School of Economics, Finance and Management, University of Bristol and Center for the Analysis of Investment Risk (CAIR), University of Manchester.
Keynote speaker
- Prof Jay Ritter, University of Florida: Growth Capital
Invited speakers
- Prof Karin S Thorburn, Stockholm School of Economics: Are stock-financed Takeovers Opportunistic?
- Prof Francois Derrien, HEC Paris: The Effects of Investment Bank Rankings: Evidence from M&A League Tables
- Prof Norman Schurhoff, Ecole des HEC, Universite de Lausanne: Are Institutions Informed about News?
- Prof Sandy Klasa, University of Arizona: The protection of trade secrets and capital structure
Event organiser
- Ning Gao
- Michael Bowe
- Neslihan Ozkan
7th LSE/LUMS/MBS Conference: What constitutes Financial Reporting Quality?
24 June 2013
This event is partly funded by ESRC, ICAEW, the Department of Accounting at LSE and CAIR in the Division of Accounting and Finance at Manchester Business School. It constitutes part of a project on the 'Understanding the Corporate Financial Information Environment', undertaken jointly by the three organising institutions (LSE/LUMS/MBS). The aim of the conference is to review contemporary research on corporate disclosure and earnings quality to set the grounds for future research on the insightful interaction of these two aspects of the corporate information environment.
Invited speakers
- Anne Beyer, Stanford Graduate School of Business. Anne's research interest is in the area of financial accounting with a focus on corporate disclosure, capital market prices and corporate governance.
- Feng Li, Stephen M Ross School of Business University of Michigan. Feng's research interest is in the area of corporate disclosure and corporate governance
- Per Olsson, The Fuqua School of Business Duke University. Per's research interests are in valuation, financial statement analysis, accounting information and investment decisions and information uncertainty
- Vivien Beattie, Adam Smith Business School University of Glasgow. Vivien's research interests are in the areas of user needs and reporting choices by organisations (business reporting; narrative reporting; charity reporting, intellectual capital reporting, the graphical presentation of financial information
Event organiser
- Vasiliki Athanasakou
- Edward Lee
- Martin Walker
1st Bristol/MBS International Corporate Finance Conference
6 September 2012
This event is funded by CAIR, Manchester Business School and School of Economics, Finance and Management, University of Bristol.
Keynote speaker
- Prof Manju Puri, Duke University: Understanding bank runs
- Prof Harold Mulherin, University of Georgia: Some Thoughts on Research on Mergers and Acquisitions
Invited speakers
- Prof Karl V Lins, University of Utah: Shareholder Voting and Corporate Governance around the World
- Dr Hannes Wagner, University of Bocconi: Does Family Control Matter? International Evidence from the 2008-2009 Financial Crisis
- Prof Jens Hagendorff, University of Edinburgh: Bank Executives and Bank Risk-taking
- Dr Ugur Lel, Virginia Tech: A Comparison of Top Management Turnover and Firm Performance in Private and Public Firms Around the World
Event organiser
6th LSE/MBS Conference: The role of financial analysts in the corporate financial information environment
25 June 2012
This event is funded by CAIR and ICAEW.
Keynote speakers
- Mark Bradshaw, Boston College
- Scott Richardson, London Business School
Invited speakers
- Tuan Ho, Manchester Business School: What drives sell-side analysts' target price disagreement?
- Pawel Bilinski, Lancaster University: Target price accuracy: International evidence
- Ana Simpson, London School of Economics: Heaped analyst forecasts: Is it only a matter of uniformed analyst?
- Jirada Petaibanlue, Manchester Business School: When did analyst forecast accuracy benefit from increased cross-border comparability following IFRS adoption in the EU?
Event organisers
- Professor Martin Walker
- Dr Edward Lee
CAIR International Conference on Executive Pay and the Financial Crisis
3 May 2012
This event is funded by CAIR.
Keynote speaker
- Thomas Noe, Said Business School: The Determinants of Executive Compensation: Incentives, Markets, or Entanglements?
Invited speakers
- Mariassunta Giannetti, Stockholm School of Economics: Investors' Horizons and the Amplification of Market Shocks
- Irem Tuna, London Business School: Bankers' Compensation in the UK
- Yaniv Grinstein, Cornell University: Political Contributions and CEO Pay
- Karen Horne, Ernst & Young: The Practitioners' View (Round Table Discussion)
- Tony Attard OBE, Panaz Limited & Institute of Directors: The Practitioners' View (Round Table Discussion)
Event organiser
- Konstantinos Stathopoulos
5th LSE/MBS Conference: In Search of the Ideal GAAP: Stewardship, Decision-making, and the Way Forward
27 June 2011
This event is jointly sponsored by CAIR, the London School of Economics, and the ICAEW (Institute of Chartered Accountants of England and Wales).
Keynote speakers
- S.P. Kothari, MIT Sloan School of Management: The Role of Accounting in the Financial Crisis: Lessons for the Future
- Richard Macve, London School of Economics: In Search of rhe Ideal GAAP: Stewardship & Decision-making: Is there a way forward
Invited speakers
- Maria Correia, London Business School: Value Investing in Credit Markets
- Sugata Roychowdhury: Boston College: Loan Loss Reserves, Regulatory Capital, and Bank Failures: Evidence from the Recent Economic Crisis
- Yuval Millo, London School of Economics: Dangerous Connections: Hedge Funds, Brokers and the Construction of a Market Crisis
- Garen Markarian: Instituto de Empresa: Income Smoothing and Idiosyncratic Volatility
Event organiser
ESRC Conference on Corporate Governance and Corporate Investment
18 May 2011
This conference is funded by CAIR and the ESRC.
Keynote speakers
- Prof Ronald Masulis, UNSW Vanderbilt University: Recent Developments in Corporate Governance
Invited speakers
- Neslihan Ozkan, University of Bristol: CEO Compensation, Family Control, and Institutional Investors in Continental Europe
- Ning Gao, Manchester Business School: What Drives the Effects of Corporate Cash Reserve In Acquisitions: Agency or Information?
- Laurent Fresard, HEC: Financial Strength and Entry Deterrence
- Konstantinos Stathopoulos, Manchester Business School: Managerial Career Concerns
Event organisers
4th LSE/MAFG (MBS) Conference
Divisions in Accounting Thought in the Aftermath of the Credit Crunch
24 May 2010
This event is jointly sponsored by CAIR, the London School of Economics, and the ICAEW (Institute of Chartered Accountants of England and Wales).
Keynote speakers
- James Ohlson, New York University: FASB/IASB: What Can and Should Be Done?
- Ian Mackintosh, Accounting Standards Board: The Future Direction of International and Domestic Accounting Standards
Invited speakers
- Ken Peasnell, Lancaster University: Market Reaction to Securitization Retained Interest Impairments during the Financial Crisis of 2007/2008
- Vasiliki Athanasakou, London School of Economics: Forward-Looking Performance Disclosure and Earnings Quality
- David Cairns, London School of Economics: IFRS Fair Value Measurement and Accounting Policy Choice in the United Kingdom and Australia
- Oktay Urcan, London Business School: The Debt Market Relevance of Management Earnings Forecasts: Evidence from Before and During the Credit Crisis
Event organisers
- Asad Kausar
- Elizabeth Dedman
3rd LSE/MAFG (MBS) Conference
The challenges of global financial reporting
11 May 2009
This event is jointly sponsored by CAIR, the London School of Economics, and the ICAEW (Institute of Chartered Accountants of England and Wales).
Keynote speakers
- Christian Leuz, University of Chicago: Global accounting convergence and the potential adoption of IFRS by the United States: an analysis of economic and policy factors
- Gilbert Gelard, International Accounting Standards Board: IFRS and the role of national standard setting bodies
Invited speakers
- Hollis A Skaife, University of Wisconsin - Madison: Financial reporting and international M&A
- George Serafeim, Harvard Business School: Does mandatory IFRS adoption improve the information environment?
- Ryan Lafond, Barclays Global Investors: Does stock price synchronicity represent firm-specific information? The international evidence
- Martin Glaum, University of Giessen: Value relevance of level-3 fair values: the case of German companies' pension accounting information
Event organisers
- Vasiliki Athanasakou
- Michael Bowe
CAIR Corporate Finance Workshop at MBS
2 June 2008
The workshop is funded by the Center for Analysis of Investment Risk (CAIR). It will provide an opportunity for researchers to discuss theoretical and empirical issues regarding some of the most recently debated issues in Corporate Finance and Corporate Governance. We are pleased to have distinguished speakers internationally well known in this field.
Invited speakers
- Mara Faccio, Krannert School of Management, Purdue University, and Manchester Business School: Sheltering corporate assets from political extraction
- Daniel Ferreira, London School of Economics: Understanding the relationship between founder-CEOs and firm performance (Acrobat PDF)
- Marc Goergen, Sheffield University Management School: The boundaries of governance: the effects of the national setting and ownership changes on employment practice (Acrobat PDF)
- Bart Lambrecht, Lancaster University Management School: A theory of negative debt and transferable human capital
- Meziane Lasfer, Cass Business School: Vanishing board meetings - has governance doomed the board meeting? (Acrobat PDF)
- Randall Morck, School of Business, University of Alberta: Differences in corruption levels - evidence from province-level data in China (Acrobat PDF)
- Maria-Teresa Marchica, Manchester Business School: On the relevance of ownership structure in determining the the maturity of debt (Acrobat PDF)
- Sergey Tsyplakov, Moore School of Business, University of South Carolina: Originator performance, CMBS structures and yield spreads of commercial mortgages (Acrobat PDF)
Event organisers
2nd ESRC/MAFG Conference and Doctoral Colloquium at MBS:The Transition to International Accounting Standards: Harmonisation or Discord?
28-29 April 2008
The conference is jointly sponsored by the ESRC and the Center for the Analysis of Investment Risk (CAIR) based in the Manchester Accounting and Finance Group at Manchester Business School, and we are delighted to have such a distinguished line-up of international speakers:
Keynote speakers
Invited speakers
On Tuesday 29 April ESRC/CAIR also hosted a doctoral colloquium at which invited doctoral students from MBS, UK and other EU universities will present their research findings.
Keynote speaker at doctoral colloquium
Event organisers
Accountancy in Transitional Economies: the contemporary debate
18 September 2007
This conference is jointly sponsored by CAIR and the ESRC.
Keynote speakers
- Roger Acton, ACCA: Building on the Accountancy Brand in Central and Eastern Europe (Acrobat PDF)
- Nataliya Vovchuk: ACCA Ukraine: Accountancy at High Schools of Western CISs (Powerpoint)
Invited speakers
- Irena Jindrichovska, University of Buckingham: Accountability in the Czech Republic - Recent Developments (Acrobat PDF)
- Anna Samsonova, The University of Manchester: Departing from the Soviet Legacy: a study of the development of audit practices in Russia (Acrobat PDF)
- Andrea Mennicken, London School of Economics: Connecting Worlds: the translation of international auditing standards into post-Soviet audit practice (paper available online in Accounting, Organizations and Society journal)
- Katarzyna Kosmala, University of Paisley: Identity Regulation in Chinese Audit Firms: dual public accountability? (Acrobat PDF)
Event organiser
1st ESRC/MAFG Conference
The Transition to International Accounting Standards: Harmonisation or Discord
30 April 2007
This conference is jointly sponsored by CAIR and the ESRC.
Keynote speakers
- Mary Barth, Stanford University and International Accounting Standards Board: International financial reporting: the role of academics
- Peter Pope, Lancaster University: Institutions and their interaction with IFRS
Invited speakers
- Joanne Horton, London School of Economics: Market reaction and valuation of IFRS reconciliation adjustments: first evidence from the UK (Acrobat PDF)
- Philip Joos, Tilburg University: International earnings comparability (Acrobat PDF)
- Peter Wysocki, Massachusetts Institute of Technology: Economic consequences of financial reporting and disclosure regulation: what have we learned?
- Ajosa Valentincic, University of Ljubjana: Asset write-offs as fair value mechanism of overriding accounting standards in private firms
Event organisers
- Vasiliki Athanasakou
- Michael Bowe
- Christos Grambovas
The Center was successful in obtaining ESRC funding to support a new conference/seminar series on the theme: The Transition to International Accounting Standards: Harmonisation or Discord. The series will consist of a combination of conference(s) and workshops.
BackgroundThe theme is prominent in accounting and finance research and is highly relevant for corporate market participants, standard setters and financial analysts. As part of the effort to create a set of universal accounting standards, from 2005 onwards it is mandatory for all European Union listed firms to report under International Financial Reporting Standards (IFRSs). This harmonisation process is designed to -
- enhance the comparability of financial statements across countries
- minimise the costs of preparing accounts under different regimes
- facilitate company valuation
- in principle, clarify the underlying economics of the firm
However, there are significant risks generated by the introduction of the new rules, both relative to their applicability in different settings and to the technical problems that might arise in their implementation. For example, during the implementation phase while investors familiarise with new ways of corporate reporting analysts may provide limited support because of the difficulty of forecasting IFRSs figures and the lack of sell-side analysts using an IFRS basis for forecasts. The risk of inefficiencies and market mis-pricing will also increase to the extent that the new rules provide additional scope for managing reported earnings and book value.
A distinctive objective of this proposed series is to promote the research dissemination and peer networking activities of young and emerging researchers defined to include final year PhD students, post-doctoral researchers and recently appointed full-time lecturing staff (within three years of first appointment) from the relevant discipline areas. The interdisciplinary theme of the series should be of interest to researchers from the auditing, accounting, market-based accounting research, financial management, corporate finance and international business disciplines.
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