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European Financial Management Association
2011 Annual Meetings
June 22-25, 2011
Braga, Portugal

Note#1: Session Chairs and Discussants can download papers for the meetings from this page. Authors can update the version of their paper(s) and/or abstract(s) on this webpage later. Please email your paper/abstract directly to: Shravan Chouti

Note#2: If you wish your paper to be considered for publication in the EFM journal, convey your interest to your Session Chair.

Presentations: For your presentations at the EFMA2011 Meetings please note that all rooms are equipped with computers. Power Point (USB or CD) and Overhead Projector (transparencies) presentation options are available.

Conference Presentations:
Laptops will be Available in all Rooms for Conference Presentations.

Discussants' Responsibility: To better serve the needs of authors presenting papers at the EFMA2011 meetings, discussants are kindly required to hand out to the authors and the session chair 1-2 pages handwritten comments with their constructive comments.

Accepted Papers & Participants List




Sabiwalsky Ralf
Email: rs@wacc.de
Executive Compensation Regulation and the Dynamics of the Pay-Performance Sensitivity


Salvador Enrique and Vicent Aragóa
Email: esalvado@cofin.uji.es
Non-linear trade off between risk and return: A regime-switching multi-factor framework


Sampagnaro Gabriele and Stefano Monferrà
Email: gabriele.sampagnaro@uniparthenope.it
"The role of relationship lending and lender-borrower distance during financial crisis"


Savor Marko, Michal Czerwonko, Nabil Khoury and Stylianos Perrakis
Email: michalc04@gmail.com
Tick Size Reduction And Price Discovery In option Markets: An Empirical Investogation


Schneider Christoph and Oliver Spalt
Acquisitions as Lotteries: Do Managerial Gambling Attitudes Influence Takeover Decisions?


Schneider Christoph, Olga Lebedeva and Ernst Maug
Stealth Trading by Corporate Insiders


Schwartz-Ziv Miriam
Email: miriam.schwartz@mail.huji.ac.il
The Theory and Practice of Boards: Evidence from the Field


Scordis Nicos
Email: scordisn@stjohns.edu
The Value to Shareholders of Hedging Operational Risk


Semenov Andrei
Email: asemenov@econ.yorku.ca
Consumption Moment Risk Factors and Cross-Section of Long-Run Stock Returns


Sercu Piet and Van Thi Tuong Nguyen
Email: taa@asb.dk
Tactical Asset Allocation with Commodity Futures: Implications of Business Cycle and Monetary Policy


Serra Ana Paula, António Miguel Martins and Francisco Vitorino Martins
Email: amm@estgf.ipp.pt
Real Estate Market Risk in Bank Stock Returns: Evidence for the EU-15 Countries


Serrasqueiro Zélia and Paulo Maçãs Nunes
Email: zelia@ubi.pt
Capital Structure Decisions: Old Issues New Insights from High-Tech SMEs


Shackleton Mark, Steinar Ekern and Sigbjørn Sødal
Email: m.shackleton@lancs.ac.uk
On the valuation of and returns to project flexibility within sequential investment


Shapovalova Kateryna, Alexander Subbotin and Thierry Chauveau
Email: kateryna.shapovalova@renaissance-finance.eu
Returns Premia on Company Fundamentals


Shaukat Amama
Email: A.Shaukat@exeter.ac.uk
"Are all non-independent non-executives undesirable? Directors’ non-independence and firm value in UK"


Shefrin Hersh and Enrico Maria Cervellati
Email: hshefrin@scu.edu
BP’s Failure to Debias: Underscoring the Importance of Behavioral Corporate Finance


Shiu Cheng-Yi, Hung-Ling Chen and Edward H. Chou
Ex-Dividend Prices and Investor Trades: Evidence from Taiwan


Siewert Jan and Volker Vonhoff
Email: jsiewert@rumms.uni-mannheim.de
Liquidity and Credit Risk Premia in the Pfandbrief Market


Sivaprasad Sheeja, Roberta Adamia, Orla Goughb and Gulnur Muradoglu
Email: r.adami@wmin.ac.uk
The leverage Effect On Stock Returns


Skully Michael, Bernard Bollen, David Tripe and Xiaoting Wei
Email: bernard.bollen@internode.on.net
"The Australian Deposit and Wholesale Funding Guarantee Scheme and its Impact on Bank Risk"


Song Kyojik "Roy" and Youngjoo Lee
Financial crisis and corporate cash holdings: Evidence from East Asian firms


Sousa Ricardo and Manuel J. Rocha Armada
Email: rjsousa@eeg.uminho.pt
Wealth-to-Income Ratio, Housing Returns, and Systemic Risk


Sprenger Carsten and Galina Smirnova
Email: galina.smirnova.g@gmail.com
Do locals perform better than foreigners: Evidence from mutual funds investing in Russia


Storkenmaier Andreas, Ryan Riordana and Martin Wagener
Email: ryan.riordan@iism.uni-karlsruhe.de
European Market Integrity: Regulating Equity Trading in Fragmented Markets


Sudarsanam Sudi and Ghulam Sorwar
Email: p.s.sudarsanam@cranfield.ac.uk
Exchange option value in stock financed takeover bids and arbitrage spread


Suer Omur and Kasirga Yildirak
Email: kasirga@metu.edu.tr
The Importance of Qualitative Factors in Firm Default: Evidences from Turkey


Suh Ja Young
Managerial Incentives for Risk-Taking and Internal Capital Allocation


Switzer Lorne and Yu Cao
Email: switz@jmsb.concordia.ca
Do Boards of Directors that are Perceived to be Better Aligned with Shareholder Interests Enhance the Operating Performance of Firms?