10th HEC Paris Finance PhD Workshop - In Memory of Denis Gromb
Participate
10th HEC Paris Finance PhD Workshop
In Memory of Denis Gromb
August 27 – 28, 2026
HEC Paris Campus, Jouy-en-Josas
Thursday, Aug 27
(HEC Paris campus, Z building, room Z-014)
PhD Presentations
9:45-10:00: Registration, coffee, and quick welcome
10:00-11:15: Session 1 (chair: Matthias Efing)
Dardan Gashi (SFI Lugano), “Managerial Beliefs and Agency Conflicts”
Zijun Wang (HEC Paris), “Endogenous Liquidity under Agency Frictions”
Mian Liu (HEC Paris), “The Fading Tripwire: Theory and Structural Estimates of Creditor Control Rights”
11:15-11:45: Coffee break
11:45-12:35: Session 2 (chair: Johan Hombert)
Hongyi Xu (Stockholm), “The Expected Future Cash Flow Channel in Debt Financing”
Darius Nik Nejad (EPFL), “Leverage Dynamics with Segmented Capital Markets”
12:35-14:00: Lunch at Petit Gustave
14:00-14:50: Session 3 (chair: Irina Zviadadze)
Jiarui Wang (Imperial), “Disagreement and Asset Pricing: Evidence from Prediction Markets”
Ognjen Stankovic (SFI Zurich), “Market Power, Export Sophistication, and Currency Risk Premia”
14:50-15:20: Coffee break
15:20-16:10: Session 4 (chair: Quirin Fleckenstein)
Jiayi Wei (INSEAD), “The real cost of anonymous payment system: Evidence from Bitcoin ATMs”
Romain Rosello (HEC Paris), “Conflicts of Interest in Decentralized Autonomous Organizations and the Limits
of Shareholder Democracy”
16:10-16:40: Coffee break
16:40-17:30: Session 5 (chair: Guillaume Vuillemey)
Marius Savatier (Dauphine), “Inconsistency in the Equity Market: Evidence from Cross-Holdings”
Mats Lutzenkirchen (ESCP), “Lucky Beta: The Timing Wedge and Capital Misallocation in Private Equity”
19:00-21:30: Cocktail & Dinner at HEC Paris Le Château
Friday, Aug 28
(HEC Paris campus, Z building, room Z-014)
PhD Presentations
10:00-11:15: Session 1 (chair: Stefano Lovo)
Elies Lucio (Dauphine), “For A Few Trees More”
Lishu Zhang (Tilburg), “When ESG information drives control: evidence from M&A deals”
Rachel Paya (ESSEC), “Decarbonizing Commercial Real Estate: Evidence from a Regression Discontinuity
Design”
11:15-11:45: Coffee break
11:45-12:35: Session 2 (chair: Daniel Schmidt)
Ge Yu (Stockholm), “From Words to Portfolios: Disentangling Narrative and Reality in Mutual Fund Differentiation”
Alyssa Rusonik (HEC Paris), “Narratives, Disagreement and Market Behaviour”
12:35-14:00: Lunch at Petit Gustave
14:00-14:50: Session 3 (chair: Jean-Edouard Colliard)
Federico Baldi Lanfranchi (EPFL), “Cost-Savings in Mutual Funds”
Pietro Lazzaretto (SFI Lugano), “Centralized Allocation Rules and Fund Flows”
14:50-15:20: Coffee break
15:20-16:10: Session 4 (chair: Jessica Jeffers)
Thea Kolasa (SFI Zurich), “Bottleneck Risk: The Impact of Grid Congestion on Renewable Energy Investment”
Felix Martini (Frankfurt), “Payment Processing Costs and Retail Prices: Evidence from Credit Card Surcharges”
16:10-16:30: Coffee break and goodbyes
Contact:
Camilla Pater (administration): facultyevents@hec.fr; +33 1 39 67 96 32
Abel Gonzales-Hishinuma (HEC PhD student): abel.gonzales-hishinuma@hec.edu
Benjamin Hardy (HEC PhD student): benjamin.hardy@hec.edu
Matthias Efing (HEC faculty): efing@hec.fr