Bocconi Events

The Role of Securities Regulation

Welcome Address
Francesco Saita CAREFIN, Università Bocconi
Vittorio Conti CONSOB

Keynote Speech
Rainer Masera Università degli Studi Guglielmo Marconi


Session I
Secondary Markets
Chair Andrea Beltratti Università Bocconi

Liquileaks
Albert J. Menkveld VU University Amsterdam
Ting Wang (S) VU University Amsterdam
Discussant Luca Filippa FTSE

The Impact of Fragmentation on European Stock Exchanges
Monica Gentile (S) CONSOB
Simone F. Fioravanti CONSOB
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 SSAV and Università Ca' Foscari Venezia
Loriana Pelizzon (S) SSAV and Università Ca' Foscari Venezia
Mila Getmansky Isenberg School of Management, University of Massachusetts
Andrew W. Lo MIT, Sloan School of Management
Discussant Francesco Corielli Università Bocconi

Analyst Forecast and Bank Risk
Mario Anolli (S) Università Cattolica del Sacro Cuore
Elena Beccalli Università Cattolica del Sacro Cuore
Philip Molyneux Bangor Business School, Bangor University
Discussant Giuliano Iannotta Università Bocconi


Session III
Portfolio Choices
Chair Giovanni Siciliano CONSOB

Optimal Life-Cycle Portfolios for Heterogenous Workers
Fabio C. Bagliano Università degli Studi di Torino and CeRP
Carolina Fugazza Università degli Studi di Torino and CeRP
Giovanna Nicodano (S) Università degli Studi di Torino, CeRP and Netspar
Discussant Mario Padula Università Ca' Foscari Venezia

Financial Literacy and the Demand for Financial Advice
Chiara Monticone OECD, CeRP and Netspar
Riccardo Calcagno (S) EM LYON Business School and CeRP
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 (S) University of Southampton
Jing Chen Swansea University
Julian Williams University of Aberdeen
Discussant Giovanni Puopolo Università Bocconi

Pricing CDOs in a Multi-Factor Setting by a Moment Matching Approach
Antonio Castagna Iason Ltd.
Fabio Mercurio Bloomberg LP
Paola Mosconi (S) Banca IMI
Discussant Umberto Cherubini Università di Bologna


Concluding Remarks
Marco Onado Università Bocconi



Organized by:
CAREFIN - Center for Applied Research in Finance
Paolo Baffi Center on Central Banking and Financial Regulation
CONSOB - Italian Stock Exhange Authority


For information:

CAREFIN
tel +39 025836.5908
carefin@unibocconi.it

Paolo Baffi Center
tel +39 025836.5306
centro.baffi@unibocconi.it