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CINSC/INFINITI 2025

Napier University , Edinburgh, 8-10 June 2025

Sunday, 8th June, 2025
14:00 - 15:00
PhD Workshop 1: Prof. Stuart Hyde on Academic Administration, Administrators and their management.
Sunday, 8th June, 2025 | CRL_1/07
15:00 - 16:00
PhD Workshop 2: Dr. Alan Whittle of Unburdened Solutions on Transferable skills between industry and academia.
Sunday, 8th June, 2025 | CRL_1/07
16:00 - 17:00
PhD Workshop 3: Prof. John Goodell on creating and sustaining an academic research pipeline
Sunday, 8th June, 2025 | CRL_1/07
Monday, 9th June, 2025
09:00 - 09:30
Welcome and overview
Monday, 9th June, 2025 | Riady Lecture Theatre
09:30 - 11:00
Monday Morning 1 H
Monday, 9th June, 2025 | Riady Lecture Theatre
09:30
MM1H-01
Tail Risk Spillovers Between Cryptocurrency and Traditional Financial Markets: A Quantile VAR Approach
Barbara Będowska-Sójka 1, Joanna Górka 2
1 Pozna? University of Economics and Business
2 Nicolaus Copernicus University in Toru?
10:00
MM1H-02
Decomposing and Forecasting the Yield Curves of Asian Countries
Takeshi Kobayashi
Graduate School of Management, Nagoya University of Commerce & Business
10:30
MM1H-03
Energy Vulnerability-Economic Transformation Nexus in Asia: Investment, Geopolitical Uncertainty and the Role of Democratic Governance
Constantin Gurdgiev 1, Kazi Sohag 2
1 Monfort College of Business, University of Northern Colorado
2 Graduate School of Economics and Management Ural Federal University, Yekaterinburg
09:30 - 11:00
Monday Morning 1 A
Monday, 9th June, 2025 | CRL_1/06
09:30
MM1A-01
ESG Ratings, Corporate Reputation, and Takeover Performance
Aneeb Nawaz 1, Bushra Ghufran 2
1 RWTH Aachen University
2 ESSCA School Management
10:00
MM1A-02
The impact of government-guided funds on corporate ESG
Yi-Shuai Ren 1, Yuxin Mao 1, Tony Klein 2, Yong Jiang 3
1 Hunan University
2 Technische Universität Chemnitz
3 Nanjing Audit University
10:30
MM1A-03
Supply Chain Network, ESG Scores and Financial Performance
Michail Filippidis 1, Renatas Kizys 2, Panagiotis Tzouvanas 3
1 University of Westminster, Westminster Business School, School of Organisations, Economy & Society (SOES), London, NW1 5LS, United Kingdom
2 University of Southampton, Southampton Business School, Department of Banking and Finance, Building 175, Boldrewood Innovation Campus, Burgess Road, Southampton SO16 7QF, United Kingdom
3 University of Portsmouth, School of Accounting, Economics and Finance, Portsmouth, United Kingdom
09:30 - 11:00
Monday Morning 1 B
Monday, 9th June, 2025 | CRL_1/09
09:30
MM1B-01
Powering Resilience: The Role of Renewables in Mitigating Electricity Price Vulnerability in Times of Crisis
Ibtissem Khelifati 1, 2, Stéphane Goutte 1, Raphaël Homayoun Boroumand 3
1 UMI SOURCE (Paris Saclay University, UVSQ, IRD)
2 Climate Economics Chair (Paris Dauphine University)
3 Paris School of Business
10:00
MM1B-02
A comprehensive exploration of factors enabling renewable energy communities.
Silvia Micheli , Simona Bigerna , Paolo Polinori
University of Perugia
10:30
MM1B-03
Climate events and public concern
Ghassen JENOUIZE 1, Khaled GUESMI 2, Drilona Muharremi 1
1 University Paris 1 Panthéon-Sorbonne
2 University Paris School of Business Director of the CRECC
09:30 - 11:00
Monday Morning 1 C
Monday, 9th June, 2025 | CRL_2/05
09:30
MM1C-01
Does the Market Value CEO Diversity, Equity, and Inclusion Activism?
John Wingender 1, Robbie Bishop-Monroe 2
1 Creighton University
2 Loyola University Maryland
10:00
MM1C-02
Do powerful CEOs enhance resource allocation efficiency? The role of lead independent board monitor and advisor
Wansu Hu 1, Frank Kwabi 2
1 De Montfort University
2 De Montfort University
3 Leeds Beckett University
10:30
MM1C-03
Determinants of Hydrogen Bond Financing Costs: Gender Balanced Boards & Bond Maturity Type Risk
Geeta Duppati
Asst. Professor in Accounting and Finance, Prince Mohammad Bin Fahd University, Al-Khobar, Saudi Arabia
09:30 - 11:00
Monday Morning 1 D
Monday, 9th June, 2025 | CRL_2/06
09:30
MM1D-01
Do Layer 2s act parasitically on Ethereum's Layer 1?
Lambis Dionysopoulos 1, Miriam Marra 1, Andrew Urquhart 2
1 ICMA Centre, Henley Business School, University of Reading, Reading, UK
2 Birmingham Business School, University of Birmingham, UK
10:00
MM1D-02
Cyber risk, ChatGPT and firm value
Fearghal Kearney et al.
Queen's University Belfast
10:30
MM1D-03
USDC's Role in Future Finance Evolution
Darina Saxunova 1, Peter Slivka 2
1 Comenius University, Faculty of Management darina.saxunova@fm.uniba.sk
2 Zota Payment Technologies AG, Switzerland peter@zota.com
09:30 - 11:00
Monday Morning 1 E
Monday, 9th June, 2025 | CRL_2/09
09:30
MM1E-01
Impact of Climate Policy Intensity on Chinese Oil and Gas Stocks at Multiple Scales: A Perspective Based on Nonlinear Moderating Effects
Siyuan Xuan 1, Yizhi Wang 2, Xin Xu 3
1 School of International Economics and Business, Nanjing University of Finance and Economics, Nanjing, China.
2 Cardiff Business School, Cardiff University, Aberconway Building, Cardiff CF10 3EU, United Kingdom
3 School of Finance, Nanjing University of Finance & Economics, Nanjing, China.
10:00
MM1E-02
Feedback trading, risk aversion, and their relationship: New evidence from the crude oil markets
Yang (Greg) Hou 1, Yang Hu 1, Les Oxley 1, Andrew Urquhart 2, Danyang Xu 1
1 School of Accounting, Finance and Economics, Division of Management, University of Waikato, New Zealand
2 Department of Finance, Birmingham Business School, University of Birmingham, United Kingdom
10:30
MM1E-03
Role of Green Energy in Portfolio Diversification: A Global Perspective
Renata Karkowska , Szczepan Urjasz
University of Warsaw, Faculty of Management
09:30 - 11:00
Monday Morning 1 F
Monday, 9th June, 2025 | CRL_3/07
09:30
MM1F-01
Can investors profit from measuring stock liquidity with ordered fuzzy numbers?
Szymon Stereńczak 1, Adam Marszałek 2
1 Poznan University of Economics and Business
2 Cracow University of Technology
10:00
MM1F-02
Investors’ Behaviour, Portfolio Carbon Risk and Climate Media Attention
Laura Andreu 2, Diego Víctor de Mingo-López 1, Juan Carlos Matallín-Sáez 1, José Luis Sarto 2
1 Universitat Jaume I
2 University of Zaragoza
10:30
MM1F-03
Framing Institutional Investors’ perceptions of Low Carbon Assets through Institutional Logics
Tom Egan , Norah Storey , Sheila O'Donohoe
South East Technological University
09:30 - 11:00
Monday Morning 1 G
Monday, 9th June, 2025 | CRL_3/03
09:30
MM1G-01
The impact of biodiversity firm-level performance on profitability: A study case on salmon aquaculture
Rodrigo Graca 1, Jonas Lund 1, Malvina Marchese 1, 2, Morten Risstad 1, Markus Vonheim 1
1 Norwegian University of Science and Technology
2 Bayes Business School
10:00
MM1G-02
A study on the connections between ESG ratings and traditional measures of credit risk
Barbara Kurbus , Vasja Rant
University of Ljubljana, School of Economics and Business
11:30
MM1G-03
Evaluating ESG Fund Performance in Emerging Markets: Risk, Uncertainty, and Market Volatility
Marcelo Klotzle , Clara Casartelli
Pontifical Catholic University of Rio de Janeiro
11:00 - 11:30
Coffee and Poster Presentations
Monday, 9th June, 2025 | Lobby
11:00
CPM-01
Spillover Effects and Market Dynamics in China’s Carbon Markets: An Empirical Analysis
Zhenzhuo Zhou , Jun Gao , Fergal O'Connor , Hugh Farrell
University College Cork
11:05
CPM-02
The Impact of Investment Strategies on ESG Mutual Funds Performance: A Cross-Market Analysis
Dingyu Yang , Fergal O'Connor , Jun Gao
University College Cork
11:10
CPM-03
Market volatility and risk-return relations: Evidence from the Nasdaq Stock Market
Lesław Markowski
University of Warmia and Mazury in Olsztyn
11:15
CPM-04
Sentiment, Surveillance, and the State. A (Non-Conspiracy) Theory for CBDCs and Trust in the Post-Covid Era.
Niamh Wylie
Trinity College Dublin
11:20
CPM-05
Supervised Learning Models, Statistical Models or Hybrid Models? A Prediction of Clean Energy Stock Based on Fear and Fundamental Factors
Yuqi Zheng , Brain Lucey
Trinity College Dublin
11:30 - 13:00
Keynote: Richard Tol
Monday, 9th June, 2025 | Riady Lecture Theatre
13:00 - 14:00
Lunch
Monday, 9th June, 2025 | Lobby
14:00 - 15:30
Monday Afternoon 1 H
Monday, 9th June, 2025 | Riady Lecture Theatre
14:00
MA1B-01
Exploring Tail Risk Spillovers: A Dynamic Analysis of AI Stocks, Tokens, and DeFi Assets in a Shifting Financial Landscape
Burcu Kapar 1, Mabruk Billah 2, Mohammad Talha 2
1 University of Wollongong in Dubai
2 Prince Mohammad bin Fahd University
14:30
MA1B-02
Determinants of commissions and fees income of EEA banks: Does macroprudential policy matter?
Małgorzata Olszak 1, Christophe Godlewski 2, Iwona Kowalska 1
1 University of Warsaw
2 University of Strasbourg
15:00
MA1B-03
Credit and climate sentiments: the decarbonization frontier of risk pricing
Régis Gourdel
WU Vienna
14:00 - 15:30
Monday Afternoon 1 A
Monday, 9th June, 2025 | CRL_1/06
14:00
MA1A-01
Gender Differences in Building Modifications in New York City
Sarah Borthwick Saddler 2, Antonios Siganos 1
1 Professor in Finance, Edinburgh Napier University
2 Lecturer in Accounting, Edinburgh Napier University
14:30
MA1A-02
Great Expectations: Relative Performance and Managerial Turnover in Professional Football
Barry Quinn 1, Ronan Gallagher 2
1 Ulster University Business School
2 Edinburgh Business School
15:00
MA1A-03
Risk as a launchpad: How geopolitical uncertainty fuels global FinTech growth
Charilaos Mertzanis
Abu Dhabi University
14:00 - 15:30
Monday Afternoon 1 B
Monday, 9th June, 2025 | CRL_1/09
14:00
MA1B-01
Volatility and Connectedness of Hydrogen Economy, Green Assets, and Commodity Markets
Ramzi Benkraiem 1, Anupam Dutta 2, Alamgir Hossain 2, Vanja Piljak 2
1 Audencia Business School
2 University of Vaasa
14:30
MA1B-02
The connectedness of cryptocurrencies: volatility and liquidity spillover networks
Barbara Będowska-Sójka 1, Aleksander Mercik 2
1 Pozna? University of Economics and Business
2 Wroc?aw University of Economics
15:00
MA1B-03
Energy market connectedness: A tale of two crises
Ailie Charteris 3, Lidia Obojska 4, Jan Szczygielski 1, 2, Janusz Brzeszczyński 5
1 Department of Finance, Kozminski University, ul. Jagiello?ska 57/59, 03-301 Warsaw, Poland,
2 Department of Financial Management, University of Pretoria, Private Bag x20, Hatfield, Pretoria, 0028, South Africa
3 Department of Finance and Tax, University of Cape Town, Rondebosch, 7700, Cape Town, South Africa.
4 Department of Quantitative Methods & Information Technology, Kozminski University, ul. Jagiello?ska 57/59, 03-301 Warsaw, Poland
5 Department of Accounting and Finance, Business School, Edinburgh Napier University (ENU), 219 Colinton Road, Edinburgh EH14 1DJ, Scotland, United Kingdom
14:00 - 15:30
Monday Afternoon 1 C
Monday, 9th June, 2025 | CRL_3/03
14:00
MA1C-01
How Institutions Interact with Exchange Rates After the 2024 US Presidential Election: New High-Frequency Evidence
Joshua Aizenman 1, Jamel Saadaoui 2
1 University of Southern California
2 University of Paris 8
14:30
MA1C-02
Bonds Trading at a Short Notice: Market Liquidity in E-markets
Mary Pieterse-Bloem 1, 2, David Dekker 2, Rik Lustermans 3, Amir Amel-Zadeh 4, Dimitris Christopoulos 2
1 Erasmus University Rotterdam
2 Heriot Watt University Edinburgh
3 VU University Amsterdam
4 Oxford Said Business School
15:00
MA1C-03
Islamic Banking: How Has It Fared Amid Geopolitical Risk?
Bayu Arie Fianto 1, Mansor H Ibrahim 2, Wahyu Jatmiko 3
1 Faculty of Economics and Business, Universitas Airlangga, Indonesia
2 INCEIF University, Malaysia
3 Southampton Business School, University of Southampton, UK
15:30
MA1C-04
A well-crafted BEER: Identifying the fundamental drivers of real exchange rates
Mirjam Salish 1, 2, Mathilde Dufouleur 3, Milan Vyskrabka 2, Stefan Zeugner 2
1 Oesterreichische Nationalbank
2 European Commission (ECFIN)
3 PhD, University of Paris-Saclay
14:00 - 15:30
Monday Afternoon 1 D
Monday, 9th June, 2025 | CRL_2/05
14:00
MA1D-01
Evaluating Economy-wide Energy Efficiency: A Spatial Stochastic Frontier Model Addressing Endogeneity and Multiple Spatial Correlations
Kerui Du 1, Anna Min DU 2, Boqiang Lin 1
1 Xiamen University
2 Edinburgh Napier University
14:30
MA1D-02
Forecasting Clean Energy Stock Indices under Multiple Uncertainties: A Hybrid Deep Learning Framework
Mohammad Abedin 1, Brian Lucey 2
1 Swansea University
2 Trinity Business School
15:00
MA1D-03
Novel geopolitical shocks to energy markets: An overview
Tony Klein
Technische Universität Chemnitz
14:00 - 15:30
Monday Afternoon 1 E
Monday, 9th June, 2025 | CRL_2/06
14:00
MA1E-01
Climate Policy Uncertainty, Financial Regulation, and Systemic Risk Contagion in U.S. Banks
Alessia Palma 1, Xiaohang Ren 2, Benye Shi 1, Cheng Huang 2
1 School of Economics, Jilin University
2 School of Business, Central South university, Changsha, China
14:30
MA1E-02
Lost in the Multiverse: Methodological Uncertainty in Studying Global Equity Returns
Nusret Cakici 2, Christian Fieberg 5, Gabor Neszveda 3, Vanja Piljak 4, Adam Zaremba 1
1 Poznan University of Economics and Business, MBS School of Business, Monash University
2 Fordham University
3 Central Bank of Hungary
4 University of Vaasa
5 HSB Hochschule Bremen
15:00
MA1E-03
Climate Change and Carbon Market Volatility: A GARCH-MIDAS Approach
Adriano Barasal Morales
University of Twente
15:30
MA1E-04
SMEs and climate finance: a hybrid review
Ashraf Khan , Anastasia GIAKOUMELOU , Giorgio Stefano BERTINETTI
Venice School of Management, Ca Foscari University of Venice, Italy
14:00 - 15:30
Monday Afternoon 1 F
Monday, 9th June, 2025 | CRL_2/09
14:00
MA1F-01
Do insurance-linked securities impact the issuer’s shareholder value? New evidence from the CAT bond market
Niklas Grimmelsmann 2, Britta Hachenberg 1, Dirk Schiereck 2
1 University of Applied Sciences, Cologne
2 TU Darmstadt
14:30
MA1F-02
Incorporating idiosyncratic risk factors into CAT bond pricing: A machine learning approach
Florian Horyky 1, Brian Lucey 2, Sovan Mitra 3, Boru Ren 4
1 Zeppelin University
2 Trinity Business School
3 University of Westminister
4 Swansea University
15:00
MA1F-03
Sovereign ESG Bonds and Credit Risk: Cross-Border Transmission in Global Markets
Laura Ballester 1, Alba García 2, Ana González-Urteaga 3
1 University of Valencia
2 Quant AI Lab
3 Public University of Navarre
14:00 - 15:30
Monday Afternoon 1 G
Monday, 9th June, 2025 | CRL_3/07
14:00
MA1F-01
The Corporate Sustainability and Carbon Risk of Equity Retirement Investment Funds
Bogna Janik 1, Piotr Płuciennik 2, Katarzyna Maruszewska 1
1 WSB Merito University in Poznan, Poland
2 Adam Mickiewicz University in Poznan, Poland
14:30
MA1F-02
The slow start of professional clients in foreign investment
Seth Armitage 1, Jiaman Xu 2
1 University of Edinburgh
2 Cardiff University
15:00
MA1F-03
Environmental credit risk, climate change and bank performance.
Kenza Mouti , Erhan Kilincarslan , Jiafan li
University of Huddersfield
15:30 - 16:00
Coffee
Monday, 9th June, 2025 | Lobby
16:00 - 17:30
Monday Afternoon 2 A
Monday, 9th June, 2025 | CRL_1/06
16:00
MA2A-01
Pay Transparency Laws and Corporate Wrongdoing
Hafiz Hoque 1, Eilnaz Kashefi pour 2, Gonul Colak 3
1 School of Management, Swansea University
2 Birmingham Business School, University of Birmingham
3 University of Sussex Business School
16:30
MA2A-02
Bank dividends and shareholders: payouts in adverse conditions
Oskar Kowalewski 3, 4, 5, 6, Urszula Mrzygłód 2, Joanna Rachuba 1, Dorota Skala 1
1 Institute of Economics and Finance, University of Szczecin
2 Faculty of Economics, University of Gda?sk
3 Institute of Economics, Polish Academy of Sciences, Warsaw, Poland
4 IESEG School of Management, UMR 9221 - LEM - Lille Économie Management, France
5 Univ. Lille, UMR 9221 - LEM - Lille Économie Management, France
6 CNRS, UMR 9221 - LEM - Lille Économie Management, France
17:00
MA2A-03
Sovereign Ceilings and Corporate Payouts: How Rating Constraints Shape Dividend Policy
Periklis Boumparis
Newcastle University Business School
16:00 - 17:30
Monday Afternoon 2 B
Monday, 9th June, 2025 | CRL_1/09
16:00
MA2B-01
Loan Guarantee and Portfolio Greening: Evidence from European Credit Registers
Salvatore Perdichizzi
University of PaduaEuropean Central BankState University of New York (SUNY) at Buffalo
16:30
MA2B-02
Racial Disparities in the U.S. Mortgage Market: Evidence from Data Privacy Legislation
Xiangyu Lin 1, S. Sarah Zhang 1, 2
1 University of Manchester
2 BCCaS (Centre for Business, Climate Change, and Sustainability) at University of Edinburgh Business School
17:00
MA2B-03
Cross-border VC and Innovation
Ali Altanlar 1, Shima Amini 1, William Megginson 2, Zicen Zhao 1
1 Leeds University Business School
2 Michael F. Price College of Business, The University of Oklahoma
16:00 - 17:30
Monday Afternoon 2 C
Monday, 9th June, 2025 | CRL_2/09
16:00
MA2C-01
Managing portfolio risk during the BREXIT crisis: a cross-quantilogram analysis of stock markets and commodities across European countries, the US and the BRICS
Ahmed Ayadi 1, 2, Marjène Gana 3, Stéphane Goutte 4, Khaled Guesmi 5
1 a Laboratoire d’Economie et de Finance Appliquées University of Carthage, IHEC Carthage Tunis Tunisia
2 Laboratoire d’Economie Dionysien (LED) University of Paris 8 Paris France
3 Ecole de Technologie Supérieure Montreal Canda
4 University Paris-Saclay CEMOTEV France
5 Center of Research for Energy and Climate Change (CRECC) Paris School of Business France
16:30
MA2C-02
Power-Law Distributions in Venture Capital Returns: Implications for Portfolio Management
Ronan Gallagher
University of Edinburgh
17:00
MA2C-03
Corporate Resilience and Carbon Footprint: The Automotive Industry in the face of the Red Sea Crisis
Isabel Abínzano 1, 3, Javier F Navas 2, Ana González-Urteaga 1, 3
1 Public University of Navarre
2 INARBE
3 Universidad Pablo de Olavide
17:30
MA2C-04
Semivariance and Portfolio Choice Using Financial Statements
Pawel Kliber 1, Anna Rutkowska-Miczka 2, Konrad Szydłowski 2
1 Poznan University of Economics and Business
2 University of Warmia and Mazury in Olsztyn
16:00 - 17:30
Monday Afternoon 2 D
Monday, 9th June, 2025 | CRL_3/03
16:00
MA2D-01
Is RWA Dispersion Still an Issue? New Evidence from the European Banking System
Valerio Pesic , Rocco Rauco , Federico Tsipas
University of Rome "La Sapienza"
16:30
MA2D-02
The relevance of the banking business model in ESG perfomance: a European analysis
Valerio Pesic , Federico Tsipas , Rocco Rauco
University of Rome ''La Sapienza''
17:00
MA2D-03
Spatiotemporal Evolution and Policy Effects of Green Finance Agglomeration ——Evidence from 289 Cities in China
Jiaxiang Li , Aleksandar Sevic
Trinity Business School, TCD
16:00 - 17:30
Monday Afternoon 2 E
Monday, 9th June, 2025 | CRL_2/05
16:00
MA2E-01
Climate Risk and Commodity Markets: An Analysis of ENSO’s Impact on Maize Price Transmission Between the US and South Africa
Mariette Geyser , Anmar Pretorius
North-West University, South Africa
16:30
MA2E-02
Monetary Policy in a Warming World: Balancing Price Stability and the Green Transition
Yixiao Tan 3, 4, Dimitrios Tsomocos 3, 4, 5, Xuan Wang 1, 2
1 Vrije Universiteit Amsterdam
2 Tinbergen Institute
3 University of Oxford
4 Said Business School
5 St Edmund Hall
17:00
MA2E-03
Mutual funds and climate risks: An empirical analysis of exposure and performance
Florinda Silva , Maria Ceu Cortez , Nelson Areal
NIPE - School of Economics, Management, and Political Science, University of Minho
16:00 - 17:30
Monday Afternoon 2 F
Monday, 9th June, 2025 | CRL_2/06
16:00
MA2F-01
Risk asymmetry and accounting CAPM: downside and conditional approach
Anna Rutkowska-Miczka , Lesław Markowski
University of Warmia and Mazury in Olsztyn ul. Oczapowskiego 2, 10-719 Olsztyn NIP 739-30-33-097
16:20
MA2F-02
Financial Market Responses to US-China Decoupling: Exploring Heterogeneous Effects
Sook Rei Tan 1, Xiu Wei Yeap 1, Jingting Liu 2, Jacob Wood 1
1 Business Department, James Cook University Singapore, 149 Sims Dr, 387380, Singapore
2 Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, National University of Singapore, Address: 469C Bukit Timah Road, Singapore 259772, Singapore
16:40
MA2F-03
 Are Green Bonds Special?
Rik Lustermans 2, Amir Amel-Zadeh 1, Mary Pieterse-Bloem 3, 4, David Dekker 4, Dimitris Christopoulos 4
1 Oxford Said Business School
2 VU University Amsterdam
3 Erasmus University Rotterdam
4 Heriot Watt University Edinburgh
17:00
MA2F-04
Mind the emission gap for firms in the EU ETS program
Lorenzo Prosperi 2, Leonardo Bortolan 1, Luca Taschini 1, Luca Zanin 2
1 University of Edinburgh Business School
2 Prometeia
16:00 - 17:30
Monday Afternoon 2 G
Monday, 9th June, 2025 | CRL_2/09
16:00
MA2G-01
The Pricing of Biodiversity Risk in Biodiversity Exchange Traded Funds (ETFs)
Natalia Kostus
Poznan University of Economics and Business
16:30
MA2G-02
Do firms need to care about biodiversity? Insights from default risk
Valerio Poti 1, Simona Cosma 2, Daniela Pennetta 3, Giuseppe Rimo 2
1 University College Dublin and University of Bari
2 University of Bologna
3 University of Modena and Reggio Emilia
17:00
MA2G-03
Bio-Value-at-Risk: A Concept to Assessing the Implications of Biodiversity Risks on Portfolio Management using Geospatial Analysis
Jan-Alexander Posth , Peter Schwendner , Patrick Laube , Tomasz Orpiszewski
Zurich University of Applied Sciences
18:30 - 20:30
Monday Networking
Monday, 9th June, 2025 | City Chambers
Tuesday, 10th June, 2025
09:30 - 11:00
Tuesday Morning 1 A
Tuesday, 10th June, 2025 | CRL_1/06
09:30
TM1A-01
Does memory influence crypto price expectations? Evidence from individual investors in France
Ylva Baeckström 2, Akanksha Jalan 1, Roman Matkovskyy 1
1 Rennes School of Business
2 King’s Business School, King’s College London
10:00
TM1A-02
The Impact of Legalization on Dark Web Marketplace Transactions: A Bitcoin Data Analysis
Maximilian H. E. E. Gerrath 1, Hossein Jahanshahloo 2, Andrew Urquhart 3, Yakov Bart 4, Anatoli Colicev 5
1 Leeds University Business School, University of Leeds, Leeds, UK
2 Alliance Manchester Business School, The University of Manchester
3 Birmingham Business School, University of Birmingham
4 D'Amore-McKim School of Business, Northeastern University, USA
5 University of Liverpool Management School, University of Liverpool, Liverpool, UK
10:30
TM1A-03
On the Defense of Constructing Cryptocurrency Portfolios/Indices to Examine the Diversification Benefit of the Cryptocurrency Market
Fahad Ali 1, Anna Du 2
1 Zhejiang University of Finance and Economics
2 Edinburgh Napier University
09:30 - 11:00
Tuesday Morning 1 B
Tuesday, 10th June, 2025 | CRL_1/09
09:30
TM1B-01
Extreme temperature heat spells and default risk: Evidence from Eurozone countries
Syed Maisam Raza Rizvi , Muhammad Tahir Suleman , Duminda Kuruppuarachchi
Department of Accounting and Finance, University of Otago, Dunedin, New Zealand
10:00
TM1B-02
Market Shifts Under European Green Deal News: Green vs. Brown Stocks and Bonds
Michael Donadelli 1, Ivan Gufler 2, Renatas Kizys 3
1 University of Brescia, Italy
2 LUISS Guido Carli, Italy
3 University of Southampton, UK
10:30
TM1B-03
The Role of Global Uncertainty in Shaping Trade Flow Relations: A Cross-Country Analysis for Europe
António Afonso 1, 2, José Alves 1, 2, Menescal Lucas 1, Sofia Monteiro 1
1 ISEG - Lisbon School of Economics and Management; UECE - Research Unit on Complexity and Economics / REM - Research in Economics and Mathematics;
2 CESifo (Center for Economic Studies and Ifo Institute)
09:30 - 11:00
Tuesday Morning 1 C
Tuesday, 10th June, 2025 | CRL_2/05
09:30
TM1C-01
Real options analysis for end-of-life investment decision in wind farms.
Dorcas Mikindani 1, 2, Peter Deeney 1, John O'Brien 2, Paul Leahy 1, 3
1 Environmental Research Institute, University College Cork
2 Cork University Business School, University College Cork
3 School of Architecture and Engineering, University College cork
10:00
TM1C-02
ESG Performance and Stock Price Risk: A Comparative Analysis of EU and US Firms
Sylwia Frydrych 1, Jörg Prokop 2, Michał Buszko 3
1 SGH Warsaw School of Economics
2 Carl von Ossietzky Universität Oldenburg
3 Nicolaus Copernicus University of Torun
10:30
TM1C-03
The Financial Economics of Spaceflight
William Megginson
University of Oklahoma
09:30 - 11:00
Tuesday Morning 1 D
Tuesday, 10th June, 2025 | CRL_2/06
09:30
TM1D-01
Quantum Neural Networks (QNNs), Transformers, and Geopolitical Risk: Advancing Cryptocurrency and Commodity Price Forecasting
Ilias Kampouris 1, Charilaos Mertzanis 1, Stefanos Theofilis 2, Aristeidis Samitas 3
1 College of Business, Abu Dhabi University, Abu Dhabi, UAE
2 Department of Business Administration, University of the Aegean, Greece
3 National and Kapodistrian University of Athens, Athens, Greece
10:00
TM1D-02
Information Transmission and Volatility-Based Trading Strategies in Commodity Futures and Options Markets
Marie-Hélène Gagnon , constant Aka , Gabriel John Power
Université Laval
10:30
TM1D-03
Does Corporate Social Responsibility Influence the Acquisition Likelihood of Distressed Firms?
Vittorio Laus 1, Enrico Battisti 1, 2, Ahmed Hunjra 3, Antonio Salvi 1
1 Department of Management, University of Turin, Turin, Italy
2 Faculty of Business, Sohar University, Sohar, Oman
3 IPAG Business School, Paris, France
09:30 - 11:00
Tuesday Morning 1 E
Tuesday, 10th June, 2025 | CRL_2/09
09:30
TM1E-01
ESG and equity portfolio performance – a global analysis
Javier López Prol 1, Fernando De Llano Paz 2
1 Yonsei University - Mirae Campus
2 University of A Coruña
10:00
TM1E-02
Corporate Sustainability Index and the cost of capital for publicly listed Brazilian firms
Joana Inácio 1, 2, Verônica Santana 1
1 FECAP
2 Santander
10:30
TM1E-03
Socially Responsible Investments (SRI) Indices Performance: International Evidence
Jerzy Gajdka 1, Janusz Brzeszczyński 2, Tomasz Schabek 1, Piotr Pietraszewski 1
1 University of Lodz
2 Edinburgh Napier University (ENU), Edinburgh, Scotland, United Kingdom
09:30 - 11:00
Tuesday Morning 1 F
Tuesday, 10th June, 2025 | CRL_3/03
09:30
TM1F-01
National Culture, Societal Values, and ESG Investment: A Synergistic Pathway Towards Sustainable Development
rakhshan rahim 1, HEM SHWETA RATHORE 1, mustafa raza rabbani 2, Muhammad Waqar 3, Shreya Gupta 1
1 Amity University Uttar Pradesh
2 UNIVERSITY OF KHORFAKKAN SHARJAH, UAE
3 School of Economics and Management Beijing University of Chemical Technology, Beijing China
10:00
TM1F-02
Biodiversity risk assessment and efficiency of working capital management
John Goodell 1, Omrane Guedhami 2, Andrea Paltrinieri 3, Stefano Piserà 4
1 University of Akron
2 University of South Carolina
3 Università Cattolica del Sacro Cuore
4 University of Genova
10:30
TM1F-03
Lifeboat money: Securing human well-being
Shann Turnbull
International Institute of Self-governance
09:30 - 11:00
Tuesday Morning 1 G
Tuesday, 10th June, 2025 | CRL_3/07
09:30
TM1G-01
Law Firm Expertise and Loan Contract Design
Minh Do , Tram Vu
Monash University
10:00
TM1G-02
Cost of debt for private firms revisited: voluntary audits as a reflection of risk
Riste Ichev 1, Jernej Koren 2, Urska Kosi 3, Katarina Sitar Sustar 1, Aljosa Valentincic 1
1 School of Economics and Business, University of Ljubljana
2 Bank Assets Management Company (DUTB)
3 Faculty of Business Administration and Economics, Paderborn University
10:30
TM1G-03
Seeing the Forest for the Trees？Research on the Knowledge Transfer Effect and Path of Analyst Industry Research Reports
John O'Brien 1, Qingqing Liu 2, Yurun He 2, Wei Cong 2, Steve O'Callaghan 1
1 University College Cork
2 Beijing Technology and Business University
11:00 - 11:30
Coffee
Tuesday, 10th June, 2025 | Lobby
11:30 - 13:00
Inclusivity and Global presence in Finance academia: Roundtable
Tuesday, 10th June, 2025 | Riady Lecture Theatre
11:30 - 13:00
Conferences and Associations
Tuesday, 10th June, 2025 | CRL_1/06
13:00 - 14:00
Lunch
Tuesday, 10th June, 2025 | {session_room}
14:00 - 15:30
Tuesday Afternoon 1 A
Tuesday, 10th June, 2025 | CRL_1/06
14:00
TA1A-01
Corporate Finance-Related Drivers and Consequences of Stock Liquidity: A Comprehensive Analysis
Szymon Stereńczak 1, Rim El Khoury 2, Muneer Alshater 3
1 Poznan University of Economics and Business
2 Lebanese American University
3 University of Jordan
14:30
TA1A-02
Stock and sovereign returns linkages: time-varying causality and extreme-quantile determinants
Sofia Monteiro , Antonio Afonso , Jose Alves
Lisbon School of Economics and Management
15:00
TA1A-03
Exit threat and stock liquidity: Evidence from Open-Ended Pension Funds’ reform in Poland.
Agnieszka Stróżyńska-Szajek , Szymon Stereńczak , Aleksander Freitag
Poznan University of Economics and Business
14:00 - 15:30
Tuesday Afternoon 1 B
Tuesday, 10th June, 2025 | CRL_1/09
14:00
TA1B-01
Is the institutional investment environment in Europe hindering the shared goal of the low carbon transition?
Norah Storey , Tom Egan , Sheila O'Donohoe
South East Technological University (SETU)
14:30
TA1B-02
Environmental Innovation and Market Valuation: Implications for Managerial Incentive Design
Ellen Pei-yi Yu 1, Bac Van Luu 2, Dominic H. Chai 3
1 Affiliation: Birkbeck Business School, Birkbeck, University of London, Malet Street, Bloomsbury, London, WC1E 7HX, UK.
2 Russell Investments, Rex House, 10 Regent Street, London, SW1Y 4PE, UK.
3 Centre for Business Research, University of Cambridge, Trumpington Street, Cambridge CB2 1AG, UK.
15:00
TA1B-03
ESG Funds versus Market Performance: The Traditional and Stochastic Dominance Approaches
Ya Li 1, Nikolai Sheung-Chi Chow 2, Bo Guan 3, Arman Eshraghi 3
1 Hong Kong Metropolitan University
2 City University of Macau
3 Cardiff University
14:00 - 15:30
Tuesday Afternoon 1 C
Tuesday, 10th June, 2025 | CRL_2/05
14:00
TA1C-01
The Impact of Natural Disasters on Venture Capital Activity and Success
Alexander Groh 1, Giang Nguyen 2, Hannah Nguyen 3
1 IAE Aix - Graduate School of Management - Aix-Marseille University - France
2 Department of Applied Finance - Macquarie University - Australia
3 Department of Banking and Finance - Monash Business School - Monash University - Australia
14:30
TA1C-02
Emissions or Omissions? Investigating how firms’ equity returns vary with their prospects under climate transition
Zining Yuan , Joseph Noss
King's College London
15:00
TA1C-03
Green in the grey: can energy uncertainty boost corporate green revenues?
Abhishek Halder , Kannadhasan M.
Indian Institute of Management Raipur
14:00 - 15:30
Tuesday Afternoon 1 D
Tuesday, 10th June, 2025 | CRL_2/06
14:00
TA1D-01
Energy Transition and Economic Growth in Lower and Middle Income Countries: The Role of Climate Finance
Amin Kassab , Thomas Gries
Paderborn University
14:30
TA1D-02
Carbon Management Practices and Corporate Financial Performance: Do Financial Markets Reward Firms?
Jeanne Amar 1, Samira Demaria 2, Sandra Rigot 3
1 EDHEC Business School
2 University Côte d'Azur, Gredeg, CNRS
3 University Paris 13, CEPN UMR 7234
15:00
TA1D-03
Research on the Effectiveness of ESG Screening Strategies in China's A-share Market—From the Perspective of Industry Heterogeneity
SINIAN ZHENG , Alessia Paccagnini , Valerio Poti
University College Dublin
14:00 - 15:30
Tuesday Afternoon 1 E
Tuesday, 10th June, 2025 | CRL_2/09
14:00
TA1E-01
Sustainable and climate finance: a bibliometric analysis using Bibliometrix R-tool
Katerina Fotova Čiković
University North, Croatia
14:30
TA1E-02
Exploring the relationship between blockchain and sustainability
Jorge Soria 1, Carlos Estevez-Mendoza 2, 3, Francisco J. Lara 4
1 University of Navarra
2 Complutense University of Madrid
3 CUNEF University
4 The Busch School of Business, Catholic University of America
15:00
TA1E-03
The economics of natural gas
Andrea Paltrinieri 1, Alessia Palma 2, Marco Oriani 1
1 Catholic University of Sacred Heart
2 Sapienza University
14:00 - 15:30
Tuesday Afternoon 1 F
Tuesday, 10th June, 2025 | CRL_3/03
14:00
TA1F-01
The Impact of ESG Scores for S&P 500 Companies on Their Market Risk During Financial Market Turbulences
Bogna Janik 1, Piotr Płuciennik 2
1 WSB Merito University in Poznan, Poland
2 Adam Mickiewicz University in Poznan, Poland
14:30
TA1F-02
Climate Risk and Corporate Risk Taking: An International Evidence
Shashank Srivastav , M Kannadhasan
Indian Institute of Management Raipur
15:00
TA1F-03
Green Bond Research Topics and their Impact on Academic Paper Performance Metrics
Sheila O Donohoe , Paraic Mc Gee , Tom Egan
South East Technological University
14:00 - 15:30
Tuesday Afternoon 1 G
Tuesday, 10th June, 2025 | CRL_3/07
14:00
TA1G-01
Application of Meta-Analysis in Corporate Finance Research.
Jacek Mizerka , Bartosz Kabaciński , Agnieszka Stróżyńska-Szajek
Pozna? University of Economics and Business
14:30
TA1G-02
Influential Observations in Finance Regressions
Arnold Cowan
Iowa State University
15:00
TA1G-03
A circular model for credit risk contagion
Oskar Kowalewski 1, Prabesh Luitel 1, Mike Mariathasan 2, Rosanne Vanpée 2
1 IESEG School of Management
2 KU Leuven
15:30 - 16:00
Coffee
Tuesday, 10th June, 2025 | Lobby
16:00 - 17:30
Tuesday Afternoon 2 A
Tuesday, 10th June, 2025 | CRL_1/06
16:00
TA2A-01
Motivated institutional investors and analyst following
Michał Kałdoński , Tomasz Jewartowski
Pozna? University of Economics and Business
16:30
TA2A-02
Delegated monitoring - institutional investors and trade credit financing
Tomasz Jewartowski , Michał Kałdoński
Poznan University of Economics and Business
17:00
TA2A-03
Feminisation and the Greening of Africa’s Industrialisation
Christian Urom 1, Gideon Ndubuisi 2, Solomon Owusu 3
1 Paris School of Business, France
2 Delft University of Technology, The Netherlands
3 Boston University, United States
16:00 - 17:30
Tuesday Afternoon 2 B
Tuesday, 10th June, 2025 | CRL_1/09
16:00
TA2B-01
Integration of emerging bond markets during the previous decade
Anna Maria Pretorius , Phillip Blaauw
School of Economic Sciences, North-West University, Potchefstroom, SOUTH AFRICA
16:30
TA2B-02
Local, Global, and Hybrid Asset-Pricing Models in Heterogeneously Integrated Regions: Evidence from Local Industries
Pelin Bengitoz 1, Mehmet Umutlu 2, Adam Zaremba 3
1 Independent Researcher
2 Edinburgh Napier University, The Business School, Accounting and Finance Subject Group
3 Montpellier Business School
17:00
TA2B-03
The impact of ENSO events on maize price volatility transmission: The case of US and South African markets
Anna Maria Pretorius , Mariette Geyser
School of Economic Sciences, North-West University, Potchefstroom, SOUTH AFRICA
16:00 - 17:30
Tuesday Afternoon 2 C
Tuesday, 10th June, 2025 | CRL_2/05
16:00
TA2C-01
The Value Relevance of Corporate Risk Management Disclosures in European M&A Transactions
Jörg Prokop , Christopher Wilksen , Jan-Philipp Wallis
Carl von Ossietzky University of Oldenburg, Area Finance & Banking
16:30
TA2C-02
ESG Mania and Institutional Trading
Riza Demirer 2, Lavinia Rognone 1, Huacheng Zhang 1
1 University of Edinburgh Business School
2 Southern Illinois University Edwardsville
17:00
TA2C-03
Unraveling the Relationship Between De-Risking and De-Branching in the Banking Industry
Valerio Pesic , Sabrina Leo , Ida Panetta , Paola Paiardini
Department of Management, University La Sapienza of Rome
16:00 - 17:30
Tuesday Afternoon 2 D
Tuesday, 10th June, 2025 | CRL_2/06
16:00
TA2D-01
Equitable Financing: The Contribution of Non-Western Finance to Climate Action
Karishma Ansaram
University of Edinburgh, Business School
16:30
TA2D-02
Networks, Attributes and Director Elections
Yerzhan Tokbolat , Philip Fliers , Moldir Mukan , Alisher Sansyzbayev
Queen's University Belfast
17:00
TA2D-03
The Effects of the UK Modern Slavery Act on Firms and their Stakeholders
Mujie Gao 1, Miriam Marra 1, Andrew Urquhart 2
1 ICMA Centre, Henley Business School, University of Reading
2 Birmingham Business School, University of Birmingham
17:30
TA2D-04
Determinants of Corporate Risk Disclosure in Annual Reports and Social Media
Mohammad Alahmad 1, Awad Elsayed Awad Ibrahim 2, Fahad Ali Ali 3
1 University of Greenwich
2 Portsmouth University
3 Zhejiang University of Finance and Economics
16:00 - 17:30
Tuesday Afternoon 2 E
Tuesday, 10th June, 2025 | CRL_2/09
16:00
TA2E-01
Firms’ financial behaviours in the era of climate policy uncertainty: A systematic and bibliometric review
Greta Petrini
University of Genoa
16:30
TA2E-02
It better be good, it better be green
Andrea Zaghini 2, Daniele Pianeselli 2, Fabio Fornari 1
1 ECB
2 Banca d'Italia
17:00
TA2E-03
Limited Attention to Climate News Risks
Lavinia Rognone 1, Sarah Zhang 2, Stuart Hyde 2
1 University of Edinburgh
2 Alliance Manchester Business School, University of Manchester
16:00 - 17:30
Tuesday Afternoon 2 F
Tuesday, 10th June, 2025 | CRL_3/03
16:00
TA2F-01
Information Asymmetries and OTC Bid-ask Spreads
Geir Bjonnes Hoidal
BI Norwegian Business School
16:30
TA2F-02
Sponsor Reputation and the Structure of SPAC Units
Wolfgang Bessler
University of Hamburg
17:00
TA2F-03
When the economy sets the tone: Macroeconomic dominance in predicting merger waves
Stine Alexandra Boente 1, Wolfgang Drobetz 1, 2, Marwin Moenkemeyer 2
1 University of Hamburg
2 Cambridge Judge Business School, the University of Cambridge
16:00 - 17:30
Tuesday Afternoon 2 G
Tuesday, 10th June, 2025 | CRL_3/07
16:00
TA2G-01
The Two Fixings for the Chinese Yuan: Central Bank vs. Market
Michael Frömmel , Qisi Zhang
Ghent University
16:30
TA2G-02
The More, the Better? Local versus Global Data in Stock Return Prediction
Nusret Cakici 2, Adam Zaremba 1
1 Poznan University of Economics and Business, MBS School of Business, Monash University
2 Fordham University
17:00
TA2G-03
Pension Funds, Noisy Trading and Price Discovery in a Foreign Exchange Market
Jose Ruiz 1, Catalina Estefó 1
1 Business Department, Universidad de Chile
2 Central Bank of Chile
18:30 - 22:00
Gala Dinner, prize giving and valedictory speech by Prof Lance Nail.
Tuesday, 10th June, 2025 | Murrayfield Stadium Event Center