Academic Programme lead: Prof. Dr. Konrad Adler and Prof. Dr. Dr. Can Gao
Organisation: Honorata Kaczykowski
15 June 2026 (Weiterbildungszentrum Holzweid WBZ-HSG, Holzstrasse 15, room 14-020)
08:20–08:55 | Registration |
08:55–09:00 | Open remarks by Martin Eling (Dean of the School of Finance) |
09:00–10:40 | Session 1 (Chair: Vesa Pursiainen, HSG & SFI) Private Equity and the Organization of Firms by Stefan Weik (HSG & SFI) Entrepreneurial Public Funding Choices by Katja Kisseleva-Scherenberger (Frankfurt School of Finance) |
10:40–11:10 | Coffee Break |
11:10–12:50 | Session 2 (Chair: Andrea Barbon, HSG & SFI) Investing in Safety by Veronica De Falco (Imperial College London) Causal Inference for Asset Pricing by Paul Heubner (Stockholm School of Economics) |
12:50–14:00 | Lunch Break |
14:00–15:10 | Keynote What is the Carbon Premium a Premium On? by Marcin Kacperczyk (Imperial College London) |
15:10–15:30 | Coffee Break |
15:30–17:10 | `Sketch’ Round 1 |
| 17:30–18:45 | Art Tour at HSG Campus (optional) |
19:00 | Workshop Dinner at Lokremise (upon invitation) |
WiFi @ at the University of St.Gallen
Please use Eduroam or follow the instructions
Step 1: Connect to the Wi-Fi network «unisg-guest».
Step 2: Start your browser, select a webpage and click on «Login».
Step 3: Register your mobile phone number.
Step 4: You will receive your password via text message.
Step 5: Enter the password on the login page.
Step 6: You are now online.
The Look of Success: Face-Based Impression Factors and Venture Financing by Silvia Dalla Fontana (ESCP Business School)
Learning from the Little Guy: Innovation Spillover from Private to Public Firms by Tanja Kirmse (Miami University & HSG)
The Transparency Paradox: Mandated Compensation Disclosure and Bank Opacity by Piotr Danisewicz (Tilburg University)
The Value of Forests: Impacts on Extreme Heat and Electricity Demand by Stefano Ramelli (HSG & SFI)
Golden Visas and Real Estate Markets by Zhengming Li (Oxford Said Business School)
Bank Liquidity Regulation and the Growth of Private Credit by Vesa Pursiainen (HSG & SFI)
Needs Are Not Enough: The Gravity of Private Cross-Border Infrastructure Investments by Alois Weigand (HSG)
16 June 2026 (Stadthaus St.Gallen, Gallusstrasse 14, 9001 St. Gallen)
08:30–09:00 | Registration |
09:00–10:40 | Session 3 (Chair: Julian Koelbel, HSG & SFI) When Private Firms Provide Public Goods: The Allocation of CSR Spendingby Kim Fe Cramer (LSE) Do You Know Your Worth? Attention and Wealth Inequality by Louiza Bartzoka (Copenhagen Business School) |
10:40–11:10 | Coffee Break |
11:10–12:20 | Keynote by Jessica Wachter (Wharton School of Business, University of Pennsylvania) |
12:20–13:30 | Lunch Break |
13:30–15:00 | BIS Session (Chair: Karamfil Todorov, BIS) A Credit-Risk Explanation for Momentum by Zhaneta K. Tancheva (BI Norwegian Business School) Time Series Reversal: An End-of-the-Month Perspective by Giuliano Graziani (UC3Madrid) Warehousing Corporate Bonds via ETFs by Egle Karmaziene (VU Amsterdam) |
15:00–15:30 | Coffee Break |
15:30–17:10 | Session 4 (Chair: Kathleen Kürschner Rauck, HSG & SFI) (Non-)Binding Shareholder Voting and Trading by Yue Yuan (University College London) Board Connections and Competition in Airline Markets by Mattia Colombo (Erasmus University Rotterdam) |
| 18:00–19:00 | Apéro at Drei Linden (upon invitation) |
19:00 | Workshop Dinner at Drei Linden (upon invitation) |
WiFi@ St.Gallen Stadthaus
WiFi Access via “Swisscom”
Step 1: Open the Wi-Fi settings on your smartphone or laptop and enable Wi-Fi.
Step 2: Select "hoch” and open any website in a browser.
Step 3: A login window will appear. Enter your mobile phone number. Check the box to accept the Terms and Conditions (see image below). Click "Next."
Step 4: Swisscom will send you a code via SMS. Enter the code.
Step 5: You are now connected to the Wi-Fi.
17 June 2026 (Washington House, University of St.Gallen, room 83-5215)
08:30–09:00 | Registration |
09:00–10:40 | Session 5 (Chair: Martin Nerlinger, HSG & SFI) Default Options and Market Power: Evidence from Target-Date Funds by Hanbin Yang (London Business School) The Orgins of Top Firms by Federico Kochen (CEMFI) |
10:40–11:00 | Coffee Break |
11:00–12:40 | `Sketch’ Round 2 |
12:40 | Closing remarks by Stefan Morkötter (Managing Director of the St.Gallen Institute of Management in Asia SGI-HSG) Lunch and goodbye |
Expected Returns Across Securities: The Role of Volatility by Tobias Sichert (Stockholm School of Economics)
Relationship Trading and Competition in OTC Markets by Ingomar Krohn (BIS and BoC)
How fragile is liquidity across asset classes? by Sonya Zhu (BIS)
Covering Trades Uncovered by Dimitris Papadimitriou (University of Cyprus)
Index Provider Engagement and Corporate Climate Action: A Field Experiment by Julian Koelbel (HSG & SFI)
Decentralized Exchanges for Stablecoins by Natalia Rostova (EDHEC Business School)
Binary Bias and Stock Returns by Tobin Hanspal (WU Vienna)
Technology, Online Banks, and Credit Market Segmentation by Rachel Nam (USI & SFI)
Hedge funds hedge by Karamfil Todorov (BIS)
Market Microstructure in the Age of On-Chain Trading by Andrea Barbon (HSG & SFI)
Asset Pricing with Dynamic and Static Investors by Ruggero Jappelli (University of Warwick)
Assistant Professor
Assistant Professor
Executive Director School of Finance
