SUSTAINABLE FINANCE August 20–21 2018

SHoF-MFS CONFERENCE ON SUSTAINABLE FINANCE

August 20–21, 2018 Program, video and documentation, press program in the meny.

The Swedish House of Finance (SHoF) and Mistra Financial Systems (MFS) invited interested academics and others to a conference on Sustainable Finance on August 20-21, 2018. The conference was held at IVA, Grev Turegatan 16, Stockholm (August 20) and at Westmanska Conference Center, Holländargatan 17, Stockholm (August 21).

This two–day conference brought together leading academics with participants from industry and government. The first day of the conference featured keynote presentations and panel discussions, primarily targeted at a non–academic audience.

The second conference day consisted of presentations of current research.

Funded by Torsten Söderberg Foundation and Mistra Financial Systems (MFS).

 

See summary of the conference here:

Press coverage

SUSTAINABLE FINANCE August 20–21 2018 - Program

August 20 at IVA Conference Center, Grev Turegatan 16, Stockholm

08.30 – 09.00
Coffee and Registration

09.00 – 09.45  
Keynote Laura Starks (University of Texas Austin), “Institutional investors and ESG Issues”

09.45 – 10.30   
Keynote Philipp Krueger (University of Geneva), “The Value Implications of Sustainability”

10.30 – 11.00    
Coffee

11.00 – 12.00 
Panel discussion: “Can Sustainability Generate Outperformance in Public Markets? If not, Should Investors Pursue it Anyway?” with Alexander Bassen (University of Hamburg), Magnus Billing (Alecta), Laura Starks (University of Texas Austin) and Javiera Ragnartz (AMF) 

Moderator: Pehr Wissén (Stockholm School of Economics, SHoF)

12.00 – 13.00  
LUNCH (at conference venue)

13.00 – 13.45 
Keynote Adair Morse (UC Berkeley), “Impact Investing”

13.45 – 14.30 
Keynote Alex Edmans (London Business School), “The Business Case for Purposeful Business”

14.30 – 15.00  
Coffee

15.00 – 16.30  
Panel discussion: “The Role of Investors in Building Sustainable Firms” with Alex Edmans, Åsa Riisberg (EQT), Anna Ryott (Norrsken)

Moderator: Bo Becker (Stockholm School of Economics, SHoF)

 

August 21 at Westmanska Conference Center, Holländargatan 17, Stockholm (venue changed)

08.30 – 09.00
Coffee and Registration

09.00 – 09.45 
Karl Lins (University of Utah), “Control Rights and Corporate Sustainability Around the World ”, discussant Dirk Jenter (London School of Economics)

09.45 – 10.30 
Gustav Martinsson (KTH Royal Institute of Technology and SHoF), “Can Environmental Policy Redirect Technical Change? Pollution Taxes, R&D, and Clean Technology Development”, discussant Tania Babina (Columbia Business School)

BREAK

11.00 – 11.45     
Pedro Matos (Darden), “Leviathan Inc. and Corporate Environmental Engagement”, discussant Per Strömberg (Stockholm School of Economics, SHoF)

11.45 – 12.30  
Andreas Hoepner (UC Dublin), “ESG Shareholder Engagement and Downside Risk”, discussant Jessica Jeffers (Chicago Booth)

12.30 – 13.15     
LUNCH

13.15 – 14.05 
Enrichetta Ravina (Northwestern University), “Investor Ideology”

Ryan Bubb (New York University), “The Party Structure of Mutual Funds”

14.05 – 14.15 BREAK

14.15 – 15.00 
Oğuzhan Karakaş (University of Cambridge), “Coordinated Engagements”, discussant Hannes Wagner (Bocconi)

15.00 – 15.45  
Samuel Hartzmark (Chicago Booth),” Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows”, discussant Mariassunta Giannetti (Stockholm School of Economics, SHoF)

BREAK

16.00 – 16.45      
Shan Hua (Henley Business School), “How does the stock market reward companies with a lower carbon footprint?”, discussant Thummim Cho (London School of Economics)

16.45 – 17.30 
Philipp Krueger (University of Geneva), “The Sustainability Footprint of Institutional Investors”, discussant Gustav Martinsson (KTH, SHoF)

 

#SustainableFinConf2018

Funded by Torsten Söderberg Foundation and Mistra Financial Systems (MFS).

Organizing committee: Adair Morse, UC Berkeley and NBER Bo Becker, Stockholm School of Economics/SHoF and CEPR

SUSTAINABLE FINANCE August 20–21 2018 - Discussants and Presenters

Keynotes:

Alex Edmans

Alex Edmans is Professor of Finance at London Business School and Academic Director of the Centre for Corporate Governance. Alex has a BA from Oxford and a PhD from MIT, and was previously a tenured professor at Wharton and an investment banker at Morgan Stanley.

Alex specialises in corporate governance, executive compensation, and CSR. Alex has spoken at the World Economic Forum in Davos, testified in the UK Parliament, and given TEDx talks on “The Social Responsibility of Business” and “From Post-Truth to Pro-Truth”.  He has appeared on Bloomberg, BBC, CNBC, CNN, ESPN, ITV, Reuters, Sky News, and Sky Sports, and written for the Financial Times, Harvard Business ReviewHuffington Post, and Wall Street Journal. Alex serves on the Steering Group of The Purposeful Company, on Royal London Asset Management’s Responsible Investment Advisory Committee, and as Managing Editor of the Review of Finance, the leading academic finance journal in Europe.


Philipp Krueger

Philipp Krüger is Associate Professor of Responsible Finance at the University of Geneva and holds a Junior Chair at the Swiss Finance Institute. After studying Economics and Finance in Germany, the United States, and France, he graduated with a PhD in Economics from the Toulouse School of Economics in 2010. His research interests are in corporate, sustainable, and behavioral finance. His research has been published in top academic journals such as the Journal of Finance or the Journal of Financial Economics. Prof. Krüger is a regular speaker at leading finance conferences worldwide. His research has received or been nominated for awards from organizations such as the BSI Gamma Foundation, Chicago Quantitative Alliance, the Financial Management Association, and the European Financial Management Association. In 2015, he was awarded the Moskowitz Prize for his outstanding research in the field of sustainable investing and he received the Best Quantitative Paper Prize at the Principles for Responsible Investment Academic Network Conference in 2017.


Adair Morse

Adair Morse is Associate Professor at the Haas School of Business at the University of California at Berkeley, where she teaches New Venture Finance and Impact Investing. She holds a Ph.D. in finance from the University of Michigan. Adair’s research spans multiple areas of finance: household finance, FinTech, Impact Investing, venture finance, corruption, and pension management, with the unifying theme that she tries to choose topics useful for leveling economic playing fields. Her publications appear in the top economics and finance journals, and she has won a number of top finance research prizes, including the Brattle Prize, the Jensen Prize, the European Finance Association Asset Management Prize, the Sonoran Finance Conference Prize, the China International Finance Conference Prize, the WFA Prize, and the Moskowitz Impact prize, and her various works have been directly implemented into policy. Her work on Impact Investing and Venture Debt study the innovation ecosystem from the lens of new financing tools. These papers respectively document the willingness to pay for impact by investors and demonstrate the role of a new leveraging of Silicon Valley-type innovation on risk in innovation.


Laura Starks

Laura T. Starks, Charles E. and Sarah M. Seay Regents Chair in Finance and co-Executive Director of Social Innovation@McCombs. She teaches undergraduate and graduate courses on environmental, social and governance investing, global financial strategies, and other finance topics. She has previously served as interim Dean, Associate Dean for Research, Chairman of the Department of Finance and Graduate Advisor. She was also an editor of the Review of Financial Studies from 2008-2014 and has won a number of research and teaching awards in her career. Her current research focuses on mutual funds, corporate governance institutional investors and environmental, social and governance investing. She has served on the Boards of Directors of the four national academic finance organizations: the American Finance Association, the Financial Management Association (FMA), the Society of Financial Studies (SFS) and the Western Finance Association (WFA). She is past president of the FMA and WFA and is currently President of the SFS. She is a past Chairman of the Graduate Assembly for the University of Texas at Austin, the elected faculty council that governs the University’s graduate programs, and served on the Executive Committee of the University Faculty Council. She is an independent director for CREF Retirement Accounts and TIAA-CREF Mutual Funds, serves on the Investment Advisory Committee for the Employees Retirement System of Texas, the Board of Governors of the Investment Company Institute, and the Governing Council of the Independent Directors Council. She has also served on the 2013 Strategy Council and the 2014 Expert Panel for the Norwegian Government Pension Fund (the largest sovereign wealth fund in the world).