Keynote Speaker :  Professor Renee Adams, Oxford University

Professor Adams work focuses on information flows on boards, bank governance, group decision-making, the governance of central banks and gender diversity on and off boards. After receiving an MS in Mathematics from Stanford University and a Ph.D. in Economics from the University of Chicago, she held positions at the Federal Reserve Bank of New York, the Stockholm School of Economics, the University of Queensland and the University of New South Wales and visiting positions in Germany, Italy, Japan, Norway, Sweden and the US. She is a Fellow of the European Corporate Governance Institute and a Senior Fellow of the Asian Bureau of Finance and Economic Research.

Her global experience is reflected in the interdisciplinary nature of my research, which has been published in top accounting, economics, finance and management journals.


In 2019 she was awarded the Female Career Award from HEC Lausanne. This award honors an outstanding female academic career outside HEC twice a year and she received the 1st edition in 2019.

Her work on gender diversity, in particular, has received global media coverage and it has has been featured in news outlets such as the Financial Times, the Economist, the Daily Telegraph, Boston Globe, Australian Associated Press, The Australian, Irish Herald, Scotland on Sunday, Board IQ, Press Trust of India, The New Zealand Herald, Berlingske Nyhedsmagasin, NK (Norway), Politiken (Denmark), DN (Norway) among others.

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ICMA Centre, Henley Business School, Reading, UK June 9-11 2024

 

3nd Conference on INternational Finance; Sustainable and Climate Finance and Growth

 

Future Finance and Economics Association and ICMA Centre 

 

3nd Conference on International Finance; Sustainable and Climate Finance and Growth

FFEA and  ICMA Centre invite you to submit papers for the third CINSC. This follows the very enjoyable and successful first, in Napoli in June 2022, and the excellent conference in Ljubljana in June 2023

 

Theme 

We welcome all papers and workshops in the broad fields of International, Climate and Green finance, welcoming in particular their interactions with each other and how they can aid the sustainable growth of economies, corporations and organizations. Papers that examine these issues on their own are welcomed, but papers which examine the overlaps, interstices, conflicts and concordances are highly welcome!

 

Timeline

Papers and extended abstracts, as well as proposals for workshops and panel discussions, should be submitted by 10 March 2024.  Submissions are now open at https://coms.app/ffea-Reading-2024/welcome.html 

About the Conference

Conference Logistics

  • Conference sessions will take place at the  ICMA Centre, Henley Business School, Reading, UK.
  • The conference will be in person only. 
  • Sessions typically last for 90m, and contain one workshop/roundtable or three papers with discussants. 
  • Authors of accepted papers will be required to also act as discussants. 
  • We do not issue visa letters or letters of support. 
  • Conference fees are all inclusive of meals and supporting documentation

 

Indicative Schedule.  

Sunday June 9: 1730h  Early Registration and Networking Event

Monday June 10: 0830-1730 Conference, Keynote speaker, workshops

Monday June 10: 1900 Social Event 

Tuesday June 11: 0830-1730 Conference, Meet the editors, workshops

Tuesday June 11 : 1900 Gala Dinner, Trunkwell House Hotel, prize giving.

 

Conference attendance fee is likely to be in the region of €400-500.

Inquiries

Email 

info@ffea.eu

Special Issues/Sections of Journals  

 

For more details see the section below . Papers must in the first instance have been presented at the  conference to take place at the ICMA Centre at the University of Reading. The indicative timeline is as follows: August 1st submissions open and October 15th submissions close, with the expected date of publication in quarter one of 2025

  • International Review of Financial Analysis - Guest Editors Miriam Marra and Andrew Urquhart, ICMA Center - Beyond Gender - Diversity in International Finance in the 21st Century 
  • International Review of Economics and Finance  - Guest Editor  Yizhi Wang, Cardiff - International financial implications of net zero 
  • Finance Research Letters - Guest Editors Simone Varotto and Lisa Schopohl, ICMA Center - Beyond ESG 
  • International Journal of Finance and Economics - Guest Editors Tony Klein TU Chemnitz and Lisa Sheenan QUB - Challenges of Generative AI in International Climate and Sustainable Finance
  • Journal of International Money and Finance - Guest Editors Samuel Vigne LUISS Business School  and Brian Lucey TBS-  Climate Change, Climate Risk and the international corporate debt market.

 

International Review of Financial Analysis

Beyond Gender - Diversity in International Finance in the 21st Century 

There is a large corpus of research on the role of gender diversity in corporate performance. Gender is however only one dimension of equality. Geographic diversity (Delis et al 2016), genetic diversity (Delis et al 2016), LGBTQ inclusivity (Brahma et al 2023), religious diversity ( Alabbad et al 2022) and cultural diversity (Frijns 2016) have all been shown to have measurable effects on corporate performance, typically positive. The papers in this special issue must therefore go beyond simple measures of diversity and examine, in an international context and through the lens of financial performance and measures, how diversity concepts interact. Papers that use novel (to finance methodological approaches and techniques are welcomed. 

 

Alabbad, Amal, Jafar Al Saleem, and M. Kabir Hassan. "Does religious diversity play roles in corporate environmental decisions?." Journal of Business Research 148 (2022): 489-504.

Brahma, S., Gavriilidis, K., Kallinterakis, V., Verousis, T., & Zhang, M. (2023). LGBTQ and finance. International Review of Financial Analysis, 86, 102547.

Delis, M. D., Gaganis, C., Hasan, I., & Pasiouras, F. (2017). The effect of board directors from countries with different genetic diversity levels on corporate performance. Management Science, 63(1), 231-249.

Frijns, Bart, Olga Dodd, and Helena Cimerova. "The impact of cultural diversity in corporate boards on firm performance." Journal of Corporate Finance 41 (2016): 521-541.

 

Finance Research Letters

Beyond ESG 

The chalenges to the way we typically measure and instrumentality ESG issues are well known Edmans (2023 a,b) has noted that the very success of ESG as a concept has paradoxically made the typical measures less useful as instruments.  Gibson et al (2022) cast a critical eye on whether claims of responsible investing hold up at the corporate level while Berg et al (2022) dissect the fundamental statistical and conceptual weaknesses of popular measures of ESG alignment. Ehlers et al (2023) show that disaggregation may be a better bet for portfolio investment than aggregation. Papers in this special issue should acknowledge these critiques and attempt to go beyond standard measures towards new approaches. Methodological, empirical an conceptual papers are welcome. 

 

Edmans, Alex. "The end of ESG." Financial Management 52.1 (2023): 3-17.

Edmans, Alex. "Applying economics–not gut feel–to ESG." Available at SSRN 4346646 (2023).

Ehlers, T., Elsenhuber, U., Jegarasasingam, K., & Jondeau, E. (2023). Deconstructing ESG Scores: How to Invest with your own Criteria?. IMF Working Papers, 2023(057).

Gibson Brandon, R., Glossner, S., Krueger, P., Matos, P., & Steffen, T. (2022). Do responsible investors invest responsibly?. Review of Finance, 26(6), 1389-1432.

Journal of International Money and Finance

Climate Change, Climate Risk and the international corporate debt market.
There is by now a reasonably deep body of literature which examines the role of climate change, climate uncertainty, and other climate-related issues on the pricing and issuing of bank credit. Exemplary publications would include  Capasso (2020), Allman (2022), Aiello( 2023), Zhang (224)
Banks however do not lend in a vacuum. In general, there needs to be a demand for corporate debt or other forms of credit for the markets to issue the same.  Some papers have begun to examine this such as  Jung (2018), Palea (2020), Javadi (2021,  Lemma (2023), and Zhao (2024). but these tend to focus heavily on the price of debt versus the demand for debt
This proposed special issue invites paper switches to evaluate the demand side of international corporate debt. We are especially interested in restructuring, utilisation, and conditionality 4 firms issuing bonds are seeking bank loans related to proposed climate change mitigation or risk transference within their organisations.
Example topics would include but be not necessarily limited to the below. All papers should be firmly placed via data or importance in the international context.
• The relationship between corporate environmental alignment and the choice and cost of debt
• Climate risk mitigation issues and the cost and tenor of corporate bonds
• Does the nature and extent of corporate climate change adaption versus mitigation strategies influence their demand for corporate debt?
• Can we link corporate commitment to climate change action with the corporate debt market?
• How does exposure to transition versus other forms of climate change risk influence corporate debt decisions?
• To what extent does physical vs transition risk feature in financing decisions for capital investment?


 
Aiello, Maria Alessia, and Cristina Angelico. "Climate change and credit risk: The effect of carbon tax on Italian banks' business loan default rates." Journal of Policy Modeling 45.1 (2023): 187-201.
Allman, Elsa. "Pricing climate change risk in corporate bonds." Journal of Asset Management 23.7 (2022): 596-618.
Capasso, Giusy, Gianfranco Gianfrate, and Marco Spinelli. "Climate change and credit risk." Journal of Cleaner Production 266 (2020): 121634.
Javadi, Siamak, and Abdullah-Al Masum. "The impact of climate change on the cost of bank loans." Journal of Corporate Finance 69 (2021): 102019.
Jung, Juhyun, Kathleen Herbohn, and Peter Clarkson. "Carbon risk, carbon risk awareness and the cost of debt financing." Journal of Business Ethics 150 (2018): 1151-1171.
Lemma, Tesfaye T., Ayalew Lulseged, and Mohammad Tavakolifar. "Corporate commitment to climate change action, carbon risk exposure, and a firm's debt financing policy." Business Strategy and the Environment 30.8 (2021): 3919-3936.
Palea, Vera, and Federico Drogo. "Carbon emissions and the cost of debt in the eurozone: The role of public policies, climate‐related disclosure and corporate governance." Business Strategy and the Environment 29.8 (2020): 2953-2972.
Zhang, D., Wu, Y., Ji, Q., Guo, K., & Lucey, B. (2024). Climate impacts on the loan quality of Chinese regional commercial banks. Journal of International Money and Finance, 140, 102975.
Zhao, Yuanshuang, et al. "The effect of climate change on firms’ debt financing costs: Evidence from China." Journal of Cleaner Production 434 (2024): 140018.

International Journal of Finance and Economics

Challenges of Generative AI in International Climate and Sustainable Finance

Generative AI is potentially transformative. A stream of research is now emerging which suggests it can greatly assist in a variety of finance-related tasks and challenges. Examples include use cases highlighted in Cook et al. (2023); Feuerriegel et al. (2023) and  Pelster and,Val (2023)  This special section aims to showcase research that uses Generative AI in international financial applications, with papers that highlight issues around climate and sustainability especially welcome. We welcome papers that are empirical in nature and encourage papers that look at generative AI in settings around the Global South. Papers that integrate concerns around AI and the SDG (as noted in for instance Rana (2023)) and finance would be ideal

 

Cook, T. R., Kazinnik, S., Hansen, A. L., & McAdam, P. (2023). Evaluating Local Language Models: An Application to Bank Earnings Calls (Federal Reserve of Kansas WP 23-12).

Feuerriegel, S., Hartmann, J., Janiesch, C., & Zschech, P. (2023). Generative AI. Business & Information Systems Engineering, forthcoming.

Pelster, M., & Val, J. (2023). Can ChatGPT assist in picking stocks? Finance Research Letters, 104786.

Rane, Nitin. "Roles and challenges of ChatGPT and similar generative artificial intelligence for achieving the sustainable development goals (SDGs)." Available at SSRN 4603244 (2023).

International Review of Economics and Finance

International financial implications of net zero

The transition to net zero is driving a surge in demand for metals like lithium, cobalt, nickel, and copper. These are essential for manufacturing batteries for electric vehicles and energy storage systems for renewable energy sources. This will increase the depth of commodity financialization and spur investment in mining and related technologies. At the same time the reduction of fossil fuel energy and transition to green energy, can cause great risk and uncertainties to the related carbon based industry and financial market.  Overlaying this is the issue of the interrelationship of monetary and green policy. Papers that examine how industries, markets and institutions will be affected, for good or ill, are welcomed for this special issue. Papers should be international in scope and reach. 

Campiglio, E. , Campiglio, E. , Dafermos, Y. , Dafermos, Y. , Monnin, P. , & Monnin, P. , et al. (2018). Climate change challenges for central banks and financial regulators. Nature Climate Change, 8(6), 462-468.

 

Watari, Takuma, Keisuke Nansai, and Kenichi Nakajima. "Major metals demand, supply, and environmental impacts to 2100: A critical review." Resources, Conservation and Recycling 164 (2021): 105107.

Hund, Kirsten; La Porta, Daniele; Fabregas , Thao P; Laing, Tim; Drexhage, John. 2023. Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition. © Washington, DC: World Bank. http://hdl.handle.net/10986/40002 License: CC BY-NC 3.0 IGO.

Johansson, M., Langlet, D., Larsson, O., Löfgren, Å., Harring, N., & Jagers, S. (2021). A risk framework for optimising policies for deep decarbonisation technologies. Energy Research & Social Science, 82, 102297.

Lantushenko, V., Schellhorn, C.,.( 2023) The rising risks of fossil fuel lobbying. Global finance journal, 56


Sovacool, B. K., Ali, S. H., Bazilian, M., Radley, B., Nemery, B., Okatz, J., & Mulvaney, D. (2020). Sustainable minerals and metals for a low-carbon future. Science, 367(6473), 30-33.


Naeem, M. A., Karim, S., Uddin, G. S., & Junttila, J. (2022). Small fish in big ponds: Connections of green finance assets to commodity and sectoral stock markets. International Review of Financial Analysis, 83, 102283.
Naqvi, Bushra, et al. "Going beyond sustainability: The diversification benefits of green energy financial products." Energy Economics 111 (2022): 106111.