MTS Conference on Financial Markets

<<Previous Conferences 2006 Call for Papers The Third MTS Conference on Financial Markets The Organisation and Performance of Bond Markets Hosted by the Istanbul Bilgi University Dolapdere Campus, Kurtulus Deresi Ca. No. 47, Dolapdere 34440 Istanbul, Turkey 6 – 8 July 2006 P R O G R A M M E Scientific Session Wednesday, 5th of July Afternoon Arival of Academic Participants Thursday, 6th of July 0830h 0900h Transfer to Bilgi University Room BS-2, Istanbul Bilgi University Welcome by Marco PAGANO, Università di Salerno, Chairman, MTS Scientific Committee; Welcome by Aydýn Uður, Rector, Bilgi University   Session 1 – Government Bond Markets Chair: 0915 – 1035h Presenter: Discussant: 1035 – 1155h Presenter: Discussant: 1155 – 1210h 1210 – 1330h Presenter: Discussant: 1330 – 1430h Gustavo PIGA, Tor Vergata University, Rome; MTS Scientific Committee Flight-to-Quality or Flight-to-Liquidity? Evidence from the Euro-Area Bond Market Alessandro BEBER, HEC, University of Lausanne Co authors: Michael BRANDT, Duke University, and Ken KAVAJECZ, University of Winconsin Fany DE CLERCK, IDEI – Université de Toulouse Degrees of Specialness: An Empirical Analysis of the Italian BTP Repo Market Frank SKINNER, University of Surrey Co-author: Alfonso DUFOUR, ICMA, Reading Bruce MIZRACH, Rutgers University Coffee Break The Price Impact of Sovereign Bonds Kathy YUAN, University of Michigan Co-author: Robert F. DITTMAR, University of Michigan Alfonso DUFOUR, ICMA, Reading Lunch   Session 2 – Primary Markets Chair: 1430 – 1550h Presenter: Discussant: 1550 – 1610 1610 – 1730h Presenter: Discussant: 1800h 2000h Ernst-Ludwig VON THADDEN, Universitat Mannheim, MTS Scientific Committee Discrete Bids and Empirical Inference in Divisible Good Auctions Jakub KASTL, Northwestern University Marco Pagnozzi, Universita' di Napoli Federico II Coffee break Auctioning Financial Assets; Discriminatory vs.Uniform, which Method is preferred? Orly SADE, Jerusalem School of Business Co-authors: Menachem BRENNER, Stern School of Business, Dan GALAI, Jerusalem School of Business Peter CRAMTON, University of Maryland Transfer to hotel Dinner reception hosted by MTS S.p.A. Bogazici Borsa Restaurant, Taksim Square Friday, 7th of July 0830h Transfer to Bilgi University   Session 3 – Corporate Bond Markets Chair: 0900 – 1020h Presenter: Discussant: 1020 – 1140h Presenter: Discussant: 1140 – 1200 1200 – 1320h Presenter: Discussant: 1320 – 1430h 1430 – 1600 Chair: 1600 – 1620h 1620 – 1720h 1720 – 1800h 1945h Marco PAGANO, Università di Salerno, MTS Scientific Committee Corporate Bonds: A Spare Tire in Emerging Markets? Presenter: Todd GORMLEY, MIT Co-authors: Simon JOHNSON, MIT, NBER and CEPR and Changyong RHEE, Seoul National University Hulya K.K. Eraslan, Pensylvannia University Portfolio Choice: The Hedging Role of Corporate Bonds Antonio SANGVINATSOS, University of South Carolina Robert F. DITTMAR, University of Michigan Coffee Break Liquidity & Price Discovery in the European Corporate Bond Market Bruno BIAIS, IDEI, Université de Toulouse Co-author: Fany DE CLERCK, IDEI – Université de Toulouse Gianluca GARBI, CEO, MTS Group Lunch Private Sector and Journalists Join the Conference Roundtable: ‘Transparency of the Bond Market’ Giorgio BASEVI, MTS Scientific Committee Paul BENNET – New York Stock Exchange Bruno BIAIS – IDEI, Université de Toulouse Jean-Pierre CASEY – Centre for European Policy Studies Coffee Break Key Note Address Rick Green, Carnegie-Mellon University Closing Address Ali BABACAN (to be confirmed) The Minister of State of Economic Affairs Turkey Cocktails and Gala Dinner venue to be confirmed Friday, 7th of July 0830h Transfer to Bilgi University   Private Sector Sessions Saturday, 8th of July Venue: Chair: 0900 – 0915h 0915 – 0935h 0935 – 0955h 0955 – 1020h 1020 – 1035h 1035 – 1055h 1055 – 1115h 1115 – 1135h 1135 – 1235h Moderator: 1235 – 1400h Conference ends   Çiragan Palace Kempinski Hotel Gianluca GARBI, Chief Executive Officer, MTS S.p.A. Welcome Address Turkey Memduh AKCAY, Director General of Foreign Economic Relations, Ministry of Finance, Turkey or Tekin COTUK, Head of Government Debt, Ministry of Finance, Turkey Brazil Guilherme PEDRAS, Head of Government Debt – Ministry of Finance, Brazil Bulgaria Milena BOIKOVA, Director, Director, Government Debt and Financial Markets" Directorate, Ministry of Finance, Bulgaria Coffee Break Israel Adi RIVLIN, Head of Government Debt - Ministry of Finance, State of Israel South Africa Johan SCHOEMAN, Head of Government Debt Agency, South Africa Ukraine Katerina BERADZE, Head of Capital Markets, Ministry of Finance, Ukraine Roundtable: “Challenges Ahead for the Global Government Bond Market” Representatives from leading European Primary Dealers Jose Maria FERNANDEZ, Head of Origination for Governments, Supras and Agencies, CALYON Three other representatives names to be confirmed MTS representative Lunch hosted by EuroGlobal MTS Tugra restaurant, Çiragan Palace