The FTG Summer Conference will be held at UCL School of Management (Google Map) in Canary Wharf, London, on July 18–19, 2025.
Jean-Charles Rochet will deliver a keynote lecture entitled “Micro-Founded Macro-Finance”.
The conference will begin with lunch on July 18 and conclude around 4:30 p.m. on July 19, allowing participants to catch evening flights. London City airport is only a 15 minute cab drive away and Heathrow and Gatwick can be reached with public transport in about 50 minutes. Following FTG tradition, we will organize small-group dinners on Friday evening.
Accommodation:There are numerous hotels in the area, including London Marriott Hotel Canary Wharf, Hilton London Canary Wharf, TRIBE London Canary Wharf, and Novotel London Canary Wharf, etc.
Organizers: Alex Gorbenko, Fred Malherbe, Ming Yang, Ji Hee Yoon, Yue Yuan
18th July, Friday （Conference venue: Level 50, One Canada Square, London E14 5AA） |
12pm-1:45pm | Lunch (location: SW54) |
1:45pm-2pm | Welcome remarks |
| Parallel Session 1 (location: NW54) |
| Parallel Session 2 (location: C53) |
2pm-3pm | "How to model bank competition: the case for Cournot", by Chiara Lattanzio |
| "Who should pay for ESG ratings?", by Stefano Lovo and Jacques Olivier |
"The Making of (Modern) Banks", by Zhao Li, Kebin Ma, and Lucy White |
| "Sustainable Investing and Market Governance", by Alvin Chen, Deeksha Gupta, and Jan Starmans |
3pm-3:15pm | Break (SW54) |
3:15pm-4:15pm | "Exploitation Payoffs and Incentives for Exploration", by Jangwoo Lee, William Fuchs, and Martin Dumav |
| "A Theory of Shareholder Class Actions", by Hongda Zhong |
"Dilutive Financing", by Hanjoon Ryu |
| "A Unifying Theory of Blockholder Ownership and Corporate Policies", by Sebastian Gryglewicz, Simon Mayer, and Erwan Morellec |
4:15pm-4:30pm | Break (SW54) |
4:30pm-5:30pm | "Deposit Clustering", by Ruslan Sverchkov and Chaojun Wang |
| "A Theory of Auditor Selection", by Peter Achim, Deniz Kattwinkel, Jan Knoepfle, and Alexandra Scherf |
"Market Choice in Asset Trading:
The Role of Collateral", by Lukas Altermatt, Piero Gottardi, and Ji Hee Yoon |
| "Moral hazard and the quest for linear contracts", by Marcus Opp |
5:30pm-6:30pm | Reception (SW54) |
6:30pm - | Participants leave SOM for small group dinners |
|
19th July, Saturday (Conference venue: Level 50, One Canada Square, London E14 5AA) |
9am-9:30am | Pastries and Coffee (SW54) |
9:30am-10:30am | "AI Coordination and Self-fulfilling Financial Crises", by Hao Yang (location: NW54) |
10:30am-10:45am | break (SW54) |
10:45am-11:45am | "Liquidity in the Cross Section of OTC Assets", by Semih Uslu and Guner Velioglu (location: NW54) |
11:45am-12pm | break (SW54) |
12pm-1pm | "The Market for ESG Ratings", by Ehsan Azarmsa and Joel Shapiro (location: NW54) |
1pm-2pm | lunch (SW54) |
2pm-3pm | Keynote Lecture "Microfounded Macrofinance", by Jean-Charles Rochet (location: NW54) |
3pm-3:15pm | break (SW54) |
3:15pm-4:15pm | “Platform Money”, by Emre Ozdenoren, Yuan Tian, and Kathy Yuan |
4:15pm-4:30pm | Adjourn |
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Papers
How to model bank competition: the case for Cournot
Who should pay for ESG ratings?
The Making of (Modern) Banks
Sustainable Investing and Market Governance
Exploitation Payoffs and Incentives for Exploration
A Theory of Shareholder Class Actions
Dilutive Financing
A Unifying Theory of Blockholder Ownership and Corporate Policies
Deposit Clustering
A Theory of Auditor Selection
Market Choice in Asset Trading: The Role of Collateral
Moral hazard and the quest for linear contracts
AI Coordination and Self-fulfilling Financial Crises
Liquidity in the Cross Section of OTC Assets
The Market for ESG Ratings
Platform Money
