In line with celebrations for HEC Liège’s 125 years, we’ll host the first GRASFI PhD workshop.

This event is co-organized with Maastricht University and the University of Paris-Dauphine. Prof. Marie Lambert is the Chair of the steering committee of this year’s conference.

For those interested in attending the conference please contact Professor Marie Lambert

Program 

7.45 AM – 8.30 AM: Welcome coffee & breakfast

Third floor of the new building

8.30 AM – 10.00 AM – ESG, Financials & Performance

Chair: Serge Darolles (Université Paris-Dauphine)
Room -1.89 (once on the ground floor, take the stairs to go one floor down)

Anouck Faverjon (HEC Liège, ULiège & Université Paris-Dauphine): Do companies with strong ESG scores “really” outperform? Evidence of selection and survivorship biases in ESG ratings
Discussant: Frederique Bouwman (UMaastricht)

Bram van der Kroft (UMaastricht): ESG preferences and aggregate sustainable performance
Discussant: Vincent Compagnie (HEC Liège, ULiège)

Laurent Prunier (HEC Liège, ULiège): Impact of ESG rating divergence on analysts’ forecasts and recommendations
Discussant: John Coadou (Université Paris-Dauphine)

10.00 AM – 10.30 AM: Coffee & Tea

Third floor of the new building

10.30 AM – 12.30 PM: Climate Finance

Chair: Caterina Santi (HEC Liège, ULiège)
Room -1.89 (once on the ground floor, take the stairs to go one floor down)

Alexander Blasberg (University of Duisburg-Essen): Carbon Default Swap – Disentangling the Exposure to Carbon Risk Through CDS
Discussant: Bram van der Kroft (UMaastricht)

Elies Lucio (Université Paris Dauphine): The brown side of Carbon markets
Discussant: Flavio de Carolis (UMaastricht)

Glen Gostlow (London School of Economics): Pricing Physical Climate Risk in the CrossSection of Returns
Discussant: Céleste Hardy (HEC Liège, ULiège)

Atreya Dey (University of Edinburgh Business School): Nailing Down Volatile Temperatures: Examining their Effects on Asset Prices
Discussant: Anouck Faverjon (HEC Liège, ULiège, Université Paris-Dauphine)

12.30 PM – 2.00 PM: Lunch, discussion & posters

Third floor of the new building

Poster presenters

Romain David (HEC Liège, ULiège): Multi-stakeholder initiatives towards sustainability in the financial sector: the role of controlling actors

Michel Debay (HEC Liège, ULiège): Green factor in corporate bonds and ESG uncertainty

Bin Dong (UMaastricht): Altruists going on an ego trip: Beliefs and ambiguity attitudes in socially responsible investment

Alexandre Scivoletto (HEC Liège, ULiège): Employee Satisfaction about Management and Corporate Performance

Mareike Worch (LMU Munich School of Management): Sustainability, Prices and Emotions

2.00 PM – 3.30 PM: Corporate Finance and ESG

Chair: Marie Lambert (HEC Liège, ULiège)
Room -1.89 (once on the ground floor, take the stairs to go one floor down)

Tereza Bauer (UMaastricht): Engagement and response - How companies interact with shareholders on sustainability issues
Discussant: Alexandre Scivoletto (HEC Liège, ULiège)

Caroline Gentet-Raskopf (Université Paris Dauphine): To treat or prevent pollution?
Discussant: Marco Ceccarelli (UMaastricht)

Frederique Bouwman (UMaastricht): The effect of CEO compensation on corporate sustainability
Discussant: Wouter Torsin (HEC Liège, ULiège)

3.30 PM – 4.00 PM: Coffee break

Third floor of the new building

4.00 PM – 5.00 PM: Investor Attention to ESG

Chair: Rob Bauer (Maastricht University)
Room -1.89 (once on the ground floor, take the stairs to go one floor down)

Céleste Hardy (HEC Liège, ULiège & HEC Montréal): Behavioral divergences regarding sustainability – A comparison of U.S. and European investors
Discussant: Caroline Gentet-Raskopf (Université Paris-Dauphine)

Flavio de Carolis (UMaastricht): A quantitative analysis on the investors' reaction to floods
Discussant: Elies Lucio (Université Paris-Dauphine)

5.00 PM: Closing words & reception