8:15am-9:00am 9:00am-10:15am Track I Room 454 Track II Room 403 Climate & Energy Options Session Chair: Babak Jafarizadeh, UC Berkeley, USA Emission Reduction Or Monetary Gain? Economic Decision Analysis For Energy Transition Projects Babak Jafarizadeh, United States Discussant: Ibrahim Kadafur, Heriot Watt University Optimal Decision Making In Energy Markets Frank Heinz, RWTH Aachen University, Germany; Madlener Reinhard, Chair of Energy Economics and Management, Institute for Future Energy Consumer Needs and Behavior, RWTH Aachen University, Germany Discussant: Babak Jafarizadeh The Two Factor Process For Forecasting Carbon Prices Ibrahim Kadafur, Heriot Watt University, United Kingdom Discussant: Madlener Reinhard, Chair of Energy Economics and Management, Institute for Future Energy Consumer Needs and Behavior, RWTH Aachen University Sustainability and Awareness Session Chair: Yuri Lawryshyn, University of Toronto, Canada Eu States Bioeconomies and Sustainable Development Maximilian Kardung, Wageningen University, Netherlands; Kutay Cingiz, Wageningen University, Netherlands; Justus Wesseler, Wageningen University, Netherlands Discussant: Xinlun Song, King's College London Real Options Awareness and Its Antecedents Xinlun Song, King's College London, United Kingdom Discussant: Maximilian Kardung, Wageningen University
10:45am-12:00pm Track I Room 454 Track II Room 403 Oil & Gas Options Session Chair: Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-Champaign Real Options With Value of Information: A Case In Oil and Gas Exploration Lucas Mesz, Petrobras, Brazil; Marco Antonio Guimarães Dias, Puc-Rio, Brazil; Carlos de Lamare Bastian-Pinto , Puc-Rio, Brazil Discussant: Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-Champaign To Convert Or To Continue? A Real Option Analysis of Injecting Co2 In A Mature Gas Reservoir Mohadeseh Motie, United Kingdom; Babak Jafarizadeh, United Kingdom Discussant: Lucas Mesz, Petrobras Resource Idling and Resource Redeployment: Theory and Empirical Test In Oil Wells Toby Li, Mays Business School, Texas A&M University, United States; Jeffrey Reuer, Leeds School of Business, University of Colorado Boulder, United States; Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-Champaign Discussant: Mohadeseh Motie Risk Mitigation and Regulation Session Chair: Luiz Brandão, University of Texas at Austin, USA Valuation of Risk Mitigation In Industrial Process Safety Carlos Bastian-Pinto, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, Brazil; Leonardo Gomes, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, Brazil; Brandão Luiz, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, Brazil Discussant: Dean Paxson, Alliance Manchester Business School Safeguarding Infrastructure Projects Against Disruptive Events With Term Extension Clause Alessio Stanganello, Politecnico di Bari, Italy; Carlos Bastian-Pinto, PUC-Rio | IAG Business School, Brazil; Roberta Pellegrino, Politecnico di Bari, Italy; Luiz Brandão, The University of Texas at Austin | McCombs School of Business, United States; Naielly Marques, PUC-Rio | IAG Business School, Brazil Discussant: Maximilian Kardung, Wageningen University Eu Novel Food Regulation and Firm Investment Decisions Alessandro Varacca, Università Cattolica del Sacro Cuore, Italy; Beatrice Cortesi, Wageningen University, Netherlands; Maximilian Kardung, Wageningen University, Netherlands; Claudio Soregaroli, Università Cattolica del Sacro Cuore, Italy; Justus Wesseler, Wageningen University, Netherlands Discussant: Carlos Bastian-Pinto, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro
2:00pm-3:15pm Track I Room 454 Track II Room 403 Renewable Energy Session Chair: Stein-Erik Fleten, Norwegian University of Science and Technology, Norway Valuation of A Green & Yellow Hydrogen Plant In Brazil Leonardo Gomes, PUC-Rio, Brazil; Carlos Bastian-Pinto, PUC-Rio, Brazil Discussant: Stein-Erik Fleten, Norwegian University of Science and Technology Uncertain Electricity Use From Renewables and The Flexible Use of Green Hydrogen Sidnei Oliveira-Cardoso, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Florian Pradelle, Departamento de Engenharia Mecanica (DEM), Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Luiz Eduardo Brandao, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Carlos de Lamare Bastian-Pinto, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, Brazil Discussant: Sidnei Oliveira-Cardoso, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro Planning For Hydropower Plant Upgrades and Reinforcement Learning Andreas Kleiven, Norwegian University of Science and Technology, Norway; Selvaprabu Nadarajah, University of Illinois at Chicago, United States; Stein-Erik Fleten, Norwegian University of Science and Technology, Norway Discussant: Luiz Eduardo Brandao, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro Green & International Options Session Chair: Alcino Azevedo, Aston Business School Alternative Green Bond Designs Niklas Dahlen, HHL Leipzig Graduate School of Management, Germany; Maximilian Schreiter, HHL Leipzig Graduate School of Management, Germany; Rieke Fehrenkötter, HHL Leipzig Graduate School of Management, Germany Discussant: Alcino Azevedo, Aston Business School The Use of Tax Havens As A Real Option Alcino Azevedo, Aston Business School, United Kingdom; Nigel Driffield, Warwick Business School, United Kingdom; Chris Jones, Aston Business School, United Kingdom; Izidin El Kalak, Cardiff Business School, United Kingdom Discussant: Niklas Dahlen, HHL Leipzig Graduate School of Management
3:45pm-5:00pm Track I Room 454 Track II Room 403 Biotechnology, Biosecurity & Learning Session Chair: Elizabeth Whalley, Warwick University, UK Value Share Appropriation and Payment Structure In Biotechnology Licensing Deals Lenos Trigeorgis, Durham Business School, United Kingdom; Francesco Baldi, University of Turin and LUISS Guido Carli University, Italy; Raffaele Oriani, LUISS Guido Carli University, Italy Discussant: Yuri Lawryshyn, University of Toronto Investment In Biosecurity With Spillover Effects Among Rivals Elizabeth Whalley, University of Warwick, United Kingdom Discussant: Francesco Baldi, University of Turin and LUISS Guido Carli University Reinforcement Learning In Multi-Factor Real Options Modelling Yuri Lawryshyn, University of Toronto, Canada Discussant: A Elizabeth Whalley, University of Warwick Real Option Games Session Chair: Dean Paxson, University of Manchester, UK Real Option Games Between Rivals Dean Paxson, University of Manchester, United Kingdom; Roger Adkins, University of Bradford, United Kingdom; Alcino Azevedo, University of Aston, United Kingdom Discussant: Azzurra Morreale, LUT Business School Interactions Between Capital Structure and Merger Decisions Artur Rodrigues, Portugal Discussant: Roger Adkins Experimental Evidence of Inequality Aversion In Real Options Games Azzurra Morreale, LUT Business School, Finland; Luigi Mittone, University of Trento, Department of Economics and Management, Italy; Mostafa Goudarzi, University of Trento, Department of Economics and Management, Italy; Flavio Bazzana, University of Trento, Department of Economics and Management, Italy Discussant: Artur Rodrigues
9:00am-10:15am Track I Room 454 Track II Room 403 Corporate Finance I Session Chair: Nick Huberts, University of York, UK Optimal Investment Decisions With Minimum Price Guarantees José Carlos Dias, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; João Pedro Nunes, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; João Pedro Ruas, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; Fernando Correia Silva, Iscte - Instituto Universitário de Lisboa, Portugal Discussant: Nick Huberts, University of York Investing In R&d For Smart Products, Option To Update and Safety Regulation Nick Huberts, University of York, United Kingdom; Herbert Dawid, Bielefeld University, Germany; Peter Kort, Tilburg University, Netherlands Discussant: Nicos Koussis, Frederick University Refinancing and Mean Reversion In Earnings Elettra Agliardi, University of Bologna, Italy; Marios Charalambides, Frederick University, Cyprus; Md Shahedur R. Chowdhury, Arkansas Tech University, United States; Nicos Koussis, Frederick University, Cyprus Discussant: José Carlos Dias, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL) Duopoly & Oligopoly Options Session Chair: Benoit Chevalier-Roignant, EMLYON Business School, France Rival Strategic Options In A Market Sharing Duopoly Roger Adkins, United Kingdom; Alcino Azevedo, Aston Business School, United Kingdom; Dean Paxson, Alliance Manchester Business School, United Kingdom Discussant: Richard Ruble, emlyon business school Strategic Investment and Subsidies In An Asymmetric Duopoly Luciana Barbosaa, Iscte - Instituto Universitário de Lisboa, Portugal; Artur Rodrigues, University of Minho, Portugal; Alberto Sardinha, Instituto Superior Técnico, Universidade de Lisboa, Portugal Discussant: Dean Paxson, University of Manchester Oligopoly Pricing With Information and Search Frictions Benoit Chevalier-Roignant, emlyon business school, France; Richard Ruble, emlyon business school, France Discussant: Artur Rodrigues
10:45am-12:00pm Track I Room 454 Track II Room 403 Corporate Finance II Session Chair: Grzegorz Pawlina, Lancaster University, UK The Dynamics of Stock Repurchases Grzegorz Pawlina, Lancaster University, United Kingdom; Zexi (jesse) Wang, Lancaster University, United Kingdom Discussant: Takashi Shibata, Tokyo Metropolitan University Dual Ownership, Capital Structure and Investment Paulo Pereira, University of Porto, Portugal; Artur Rodrigues, University of Minho, Portugal Discussant: Grzegorz Pawlina, Lancaster University Investment Timing and Debt-Equity Financing Takashi Shibata, Tokyo Metropolitan University, Japan; Michi Nishihara, Osaka University, Japan Discussant: Paulo Pereira, University of Porto Options Under Ambiguity Session Chair: Motoh Tsujimura, Doshisha University, Japan Operational Flexibility To Expand Or Contract Capacity Investment Under Model Uncertainty Junichi Imai, Keio University, Japan; Motoh Tsujimura, Doshisha University, Japan Discussant: Benoit Chevalier-Roignant, emlyon business school The Impact of Ambiguity Over Clinical Status As Predictor of Healthcare Treatment Outcomes Laura Delaney, Kings College London, United Kingdom Discussant: Motoh Tsujimura, Doshisha University Real Options Under Ambiguity With Rare Events Benoit Chevalier-Roignant, emlyon business school, France; Lenos Trigeorgis, Durham, United Kingdom; Andrianos Tsekrekos, Athens University of Economics and Business, Greece; Thanasis Yannacopoulos, Athens University of Economics and Business, Greece Discussant: Laura Delaney, Kings College London
