12th Emerging Markets Conference

13th - 15th December 2021
In person: Sofitel, BKC, Mumbai and video conference

Organised by xKDR Forum, CFS - S.P.Jain Inst. of Management Research, Vanderbilt Law School



Announcing the Springer EMC best discussant award


Program Committee

  • Vimal Balasubramaniam, Queen Mary University of London
  • Pab Jotikasthira, Cox School of Business
  • N. Prabhala, Johns Hopkins University
  • Renuka Sane, NIPFP
  • Subrata Sarkar, IGIDR
  • Rajeswari Sengupta, IGIDR
  • Ajay Shah, xKDR Forum
  • Vidhu Shekhar, SPJIMR
  • Rambhadran Thirumalai, Indian School of Business
  • Susan Thomas, xKDR Forum
  • Harsh Vardhan, SPJIMR
  • Pradeep Yadav, University of Oklahoma
  • Yesha Yadav, Vanderbilt Law School

13th December 2021

08:30 – 09:00 Registration
09:00 – 09:15 Inaugural
09:15 – 09:55 Risk, Return, and Environmental and Social Ratings [Paper] [Presentation]
Sudheer Chava, Georgia Tech, Jeong Ho (John) Kim and Jaemin Lee, Emory University
    Discussant: Arvind Chari, Quantum Advisors Pvt. Ltd. [Presentation]
09:55 – 10:30 What Explains Geographic Variation in Corporate Investment? [Paper] [Presentation]
Shohini Kundu and Nishant Vats, University of Chicago
    Discussant: Tanika Chakraborty, IIM, Calcutta
10:30 – 11:00 Break
11:00 – 11:40 But clouds got in my way: Bias and bias correction of VIIRS nighttime lights data in the presence of clouds [Paper] [Presentation]
Ayush Patnaik, Ajay Shah, Susan Thomas, xKDR Forum and Anshul Tayal, QuantInsti
    Discussant: Rajeeva Karandikar, Chennai Mathematical institute [Presentation]
11:40 – 12:15 Why do Emerging Market Firms Issue Offshore Dollar Equity Linked Securities? [Paper] [Presentation]
Rama Seth, Copenhagen Business School, Keerat Bhurjee and Vishwanath S R, Shiv Nadar University
    Discussant: Shekhar Hari Kumar, The Graduate Institute (IHEID) [Presentation]
12:15 – 13:30 Lunch
13:30 – 14:15 The lowest hanging fruit on the coconut tree: India’s climate transition through the price system in the power sector [Paper]
Akshay Jaitly, 262 Advisors and Ajay Shah, xKDR Forum
    Discussant: Kirit Parikh, iRADe and Montek S. Ahluwalia, Centre for Social and Economic Progress
14:15 – 15:30 Panel: Government contracting: Building state capacity
Sanjay Aggarwal, Procurement Policy Division, MoF
Bhagwan Chowdhry, ISB (Moderator)
Manish Dubey, IIHS
S. Krishnan, Government of Tamil Nadu
Shailesh Pathak, FICCI
Susan Thomas, xKDR Forum (Presenter)

14th December 2021

08:45 – 09:15 Investor Inattention, Financial Narrative, and Tone-Based Heuristics [Paper]
Craig Lewis, Vanderbilt Business School, Francesco Grossetti and Miles Geitzmann, Universita Bocconi
    Discussant: Vijaya Bhaskar Marisetty, University of Twente and The University of Hyderabad [Presentation]
09:15 – 10:30 Panel: Consumer credit steering: A tale of two markets
Indraneel Chakraborty, University of Miami
Adam Feibelman, Tulane University (Presenter)
Deepti George, Dvara Research
Nadav Orian Peer, Colorado Law School
Renuka Sane, NIPFP (Presenter, Moderator) [Presentation]
Harsh Vardhan, SPJIMR
10:30 – 11:05 Post-Bid Takeover Resistance: Antitakeover Provisions, Initial Offer Quality, and Target Board Motivation [Paper]
Nicholas F. Carline, University of Birmingham, Sridhar Gogineni, The University of Tampa and Pradeep Yadav, University of Oklahoma
    Discussant: Varun Jindal, IIM, Bangalore
11:05 – 11:30 Break
11:30 – 12:05 IPO Suspensions and Venture Capital Activity [Paper]
Mark Humphery-Jenner and Jo-Ann Suchard, UNSW Sydney, Zhiyi Qiu, Changzhou University
    Discussant: Tirthankar Patnaik, National Stock Exchange [Presentation]
12:05 – 12:40 Debt Contract Enforcement and Product Innovation: Evidence from a Legal Reform in India [Paper]
Tanya Jain, Chetan Subramanian, IIM, Bangalore and Rahul Singh, Ahmedabad University
    Discussant: Renuka Sane, NIPFP [Presentation]
12:40 – 14:00 Lunch
14:00 – 14:40 Who Owns What? A Factor Model for Direct Stockholding [Paper]
Vimal Balasubramaniam, Queen Mary University of London, Tarun Ramadorai, Imperial College, John Y. Campbell, Harvard University and Benjamin Ranish, Board of Governors of the Federal Reserve System
    Discussant: Bikramaditya Datta, IIT, Kanpur [Presentation]
14:40 - 15:20 Regulation-induced CSR [Paper] [Presentation]
Vidhi Chhaochharia, University of Miami, Rik Sen, University of New South Wales and Jing Xu, University of Technology Sydney
    Discussant: Vimal Balasubramaniam, Queen Mary University of London [Presentation]

15th December 2021

09:00 – 10:10 Panel: Stablecoins and financial market stability
Marco Dell’Erba, University of Zurich
Parth Shah, Indian School of Public Policy
Manmohan Singh, IMF (Presenter)
Yesha Yadav, Vanderbilt Law School (Moderator)
Bhargavi Zaveri-Shah, National University of Singapore
10:10 – 10:20 Break
10:20 – 11:00 China’s No-bailout Reform: Impact on Bond Yields and Rating Standards [Paper] [Presentation]
Guiqing Mo, Shanghai Lixin University, Zhi Gao, Anhui University and Lei Zhou, Northern Illinois University
    Discussant: Manish Singh, IIT, Roorkee [Presentation]
11:00 – 11:40 The Broken Bond Market [Paper] [Presentation]
Jonathan Brogaard, University of Utah and Yesha Yadav, Vanderbilt Law School
    Discussant: Hemant Manuj, SPJIMR [Presentation]
11:40 – 12:20 Pricing anomalies in the Indian corporate bond market [Paper] [Presentation]
Harsh Vardhan, SPJIMR and Rajeswari Sengupta, IGIDR
    Discussant: Vidhu Shekhar, CFA Institute
12:20 – 13:30 Lunch
13:30 – 14:40 Panel: Making progress on the National Tribunals Commission
Pratik Datta, Shardul Amarchand Mangaldas and Co.
K. P. Krishnan, NCAER (Moderator)
Pramod Kumar, ITAT
Surya Prakash B S, DAKSH (Presenter) [Presentation]
Shubho Roy, University of Chicago
Somasekhar Sundaresan, Advocate
14:40 – 14:50 Break
14:50 – 15:30 Measuring Tax Treaties: Why India gets investment from Mauritius [Paper] [Presentation]
Karan Gulati, NIPFP, Shubho Roy, University of Chicago
    Discussant: K. P. Krishnan, NCAER [Presentation]
15:30 – 16:45 Panel: The landscape of post pandemic recovery
Saugata Bhattacharya, Axis Bank
Hemant Manuj, SPJIMR
Tirthankar Patnaik, NSE
R K Pattnaik, SPJIMR
Niranjan Rajadhyaksha, IDFC Institute (Moderator)
Ajay Shah, xKDR Forum (Presenter) [Presentation]

Note: Confirmed speakers at the conference are in boldface.

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