8:15am-8:45am
8:45am-9:00am
9:00am-10:15am
10:45am-12:00pm Infrastructure I: Flex Duration, High-speed Rail & Demand Processes Session Chair: Carlos Bastian-Pinto, PUC-Rio Flexible-term government concession contracts Carlos Bastian-Pinto, PUC-Rio, Brazil; Naielly Lopes Marques, PUC-Rio, Brazil; Luiz Bradão, PUC-Rio and U of Texas, Austin, Brazil Infrastructure project flexibility and UK’s high-speed rail Jacco Thijssen, University of York, United Kingdom Stochastic processes for demand in infrastructure concession projects Naielly Marques, PUC-Rio, Brazil; Carlos Bastian-Pinto, PUC-Rio, Brazil; Luiz Brandão, PUC-Rio, Brazil
Environment, Social & Governance Session Chair: Benoit Chevalier-Roignant, Emlyon MTRC’s novel infrastructure financing model Hao Bai, University of Manchester, United Kingdom; Alain Bensoussan, University of Texas at Dallas, United States; Gordon Briest, University of Magdeburg, Germany; Benoit Chevalier-Roignant, emlyon, France Discussant: Shantanu Banerjee, Lancaster University Stakeholder preference for corporate social responsibility strategies: A study of Indian firms Shantanu Banerjee, Lancaster University, United Kingdom; Swarnodeep Homroy, University of Groningen, Netherlands; Aureli Slechten, Lancaster University, United Kingdom Discussant: Benoit Chevalier-Roignant, emlyon
12:00pm-2:00pm
2:00pm-3:15pm Infrastructure II: Feed-in Tariffs, Collars & Energy Subsidies Session Chair: Verena Hagspiel, NTNU Feed-in tariffs in renewable energy projects Luciana Barbosa, Instituto Universitário de Lisboa, Portugal; Cláudia Nunes, Universidade de Lisboa, Portugal; Artur Rodrigues, University of Minho, Portugal; Alberto Sardinha, Universidade de Lisboa, Portugal Layered collar real options shared with a third party Dean Paxson, U. of Manchester, United Kingdom; Roger Adkins, U. of Bradford, United Kingdom Energy policy uncertainty and investment in renewable energy Verena Hagspiel, NTNU, Norway
Strategy Applications Session Chair: Mariia Kozlova, LUT University Assessing optionality and interactions in corporate strategic decisions with simulation decomposition Mariia Kozlova, LUT University, Finland; Julian Scott Yeomans, Schulich School of Business, York University, Canada Discussant: Carlos Bastian-Pinto, PUC-Rio
3:45pm-5:00pm Infrastructure III: Land Development, Human Capital and Two-Factor Models Session Chair: Hamed Ghoddusi, Stevens Institute of Technology Hong Kong Transit novel infrastructure financing: Exploiting positive externalities of public transport on land development prices Benoit Chevalier-Roignant, EMLYON Business School, France Optimal subsidies for land conservation: discouraging land development Elizabeth Whalley, University of Warwick, United Kingdom Investment in human capital, skilled labor migration and brain drain Hamed Ghoddusi, Stevens Institute of Technology, United States
Petroleum Applications Session Chair: Semyon Fedorov, NTNU Redeployment of rigs across fields for single-business oil-drilling firms Arkadiy Sakhartov, University of Illinois at Urbana-Champaign, United States; Toby Li, Texas A&M University, United States; Jeffrey Reuer, University of Colorado Boulder, United States; Ashton Hawk, University of Colorado Boulder, United States Discussant: Lucas Mesz, Petrobras Risk and benefit sharing schemes in oil exploration and production Semyon Fedorov, NTNU, Norway; Maria Lavrutich, NTNU, Norway; Verena Hagspiel, NTNU, Norway; Thomas Lerdahl, OKEA ASA, Norway Discussant: Toby Li, Texas A&M University Asymmetric war of attrition among competitors in oil exploration Lucas Mesz, Petrobras, Brazil; Marco Antonio Guimarães Dias, PUC-Rio, Brazil; Luiz Eduardo Teixeira Brandão, PUC-Rio, Brazil Discussant: Semyon Fedorov, NTNU
5:00pm-6:00pm
6:00pm-7:30pm
9:00am-10:15am M&As and Investment Banking Session Chair: Linda Salahaldin, ESCE - OMNES Cross-border M&As and growth option value Rene Belderbos, KU Leuven, Belgium; Luca Del Viva, ESADE Business School, Spain; Lenos Trigeorgis, U. of Cyprus, Cyprus Discussant: Linda Salahaldin, ESCE - OMNES Overlapping ownership in M&A deals Paulo J. Pereira, University of Porto, Portugal; Artur Rodrigues, University of Minho, Portugal Discussant: Lenos Trigeorgis, U. of Cyprus Crowdfunding campaign launch timing under uncertainty Linda Salahaldin, ESCE - OMNES, France; Salah Eddine El Ayoubi, Université Paris Saclay, France Discussant: Paulo J. Pereira, University of Porto
Scaling and Supply Chain Options Session Chair: Florina Silaghi, Universitat Autònoma de Barcelona Optimal investment timing and scale when demand follows a product life cycle Anne Balter, Tilburg University, Netherlands; Kuno Huisman, Tilburg University, Netherlands; Peter Kort, Tilburg University, Netherlands Discussant: Florina Silaghi, Universitat Autònoma de Barcelona A real options model of the supply chain with revenue-sharing and volume flexibility Nicos Koussis, Frederick University Cyprus, Cyprus; Florina Silaghi, Universitat Autònoma de Barcelona, Spain Discussant: Kuno Huisman, Tilburg University
10:45am-12:00pm Strategy & Games Session Chair: Felipe van de Sande Araujo, Norwegian University of Science and Technology - NTNU Uncertain time to completion in sequential oil project development Micah Lucy Abigaba, School of Economics and Business, Norwegian University of Life Sciences, Norway; Jens Bengtsson, School of Economics and Business, Norwegian University of Life Sciences, Norway; Martijn Ketelaars, Tilburg School of Economics and Management, Tilburg University, Netherlands; Peter Kort, Tilburg School of Economics and Management, Tilburg University,, Netherlands Discussant: Felipe van de Sande Araujo, Norwegian University of Science and Technology - NTNU Not just the option to exclude: patent enforcement as a portfolio of options Danmo Lin, University of Warwick, United Kingdom; Du Liu, University of Oxford, United Kingdom; Elizabeth Whalley, University of Warwick, United Kingdom Discussant: Micah Lucy Abigaba, School of Economics and Business, Norwegian University of Life Sciences A model of electricity markets with measures to mitigate inc-dec gaming Audun Midttun Systad, Norwegian University of Science and Technology - NTNU, Norway; Jens Løken Eilertsen, Norwegian University of Science and Technology - NTNU, Norway; Felipe van de Sande Araujo, Norwegian University of Science and Technology - NTNU, Norway; Ruud Egging-Bratseth, Norwegian University of Science and Technology - NTNU, Norway Discussant: Danmo Lin, University of Warwick
Investment Timing Session Chair: Nick Huberts, University of York Investment timing and leverage decisions with caps and floors Artur Rodrigues, University of Minho, Portugal Discussant: Nick Huberts, University of York Investment timing and capacity choice under common ownership in a duopoly Richard Ruble, Emlyon Business School, France; Dimitrios Zormpas, CY Cergy Paris University, France Discussant: Artur Rodrigues, University of Minho Implementation timing of non-pharmaceutical interventions during an epidemic Nick Huberts, University of York, United Kingdom; Jacco Thijssen, University of York, United Kingdom Discussant: Richard Ruble, EM Lyon and GATE, CNRS
12:00pm-1:15pm Public Policy Session Chair: Elizabeth Whalley, University of Warwick Emission control policies and endogenous market structure: the price vs. quantity dilemma Yishay Maoz, Department of Management and Economics, The Open University of Israel, Israel; Luca Di Corato, Università Ca' Foscari Venezia, Italy Discussant: Richard Ruble, EM Lyon and GATE, CNRS Caps and quotas, taxes and subsidies, and runs following foreseeable policy changes Yishay Maoz, Department of Management and Economics, The Open University of Israel, Israel; Richard Ruble, EM Lyon and GATE, CNRS, France Discussant: Elizabeth Whalley, University of Warwick Optimal subsidies for land conservation A Elizabeth Whalley, Warwick Business School, United Kingdom Discussant: Yishay Maoz, Department of Management and Economics, The Open University of Israel
Modelling, Timing & Computational Issues Session Chair: Grzegorz Pawlina, Lancaster University Convergence of 'exercise boundary fitting' least squares simulation approach Yuri Lawryshyn, University of Toronto, Canada; Matthew Davison, Western University, Canada Discussant: Grzegorz Pawlina, Lancaster University Investment timing under uncertainty in oligopoly markets with many firms Farzan Faninam, Tilburg University, Netherlands; Kuno Huisman, Tilburg University, Netherlands; Peter Kort, Tilburg University, Netherlands; Juan Vera, Tilburg University, Netherlands Discussant: Yuri Lawryshyn, University of Toronto What's in a trend: the dynamics of sticky corporate credit ratings Argyro Panaretou, Lancaster University, United Kingdom; Grzegorz Pawlina, Lancaster University, United Kingdom; Qifan Zhai, South China University of Technology, China Discussant: Farzan Faninam, Tilburg University