15th INTERNATIONAL CONFERENCE
CREDIT 2016 New CREDIT SOLUTIONS
for THE REAL ECONOMY and their IMPLICATIONS
for INVESTORS, FINANCIAL STABILITY and POLICY DESIGN
Venice, Italy
6 - 7 October 2016
GRETA Associati (Venice, Italy), Research Center SAFE at
Goethe
University Frankfurt (Frankfurt, Germany), the European
Investment Fund (Luxembourg) and Intesa Sanpaolo (Milan,
Italy)
are co-sponsors of a Conference to be held in Venice on October
6-7, 2016. The objective of the Conference is to bring together
academics, practitioners and PhD students working in the area of
risk
management. The conference will provide an opportunity for
participants
engaged in research at the forefront of this area to discuss both
the
causes and implications of recent events in financial markets and
may, in
turn, suggest fruitful directions for future research. The
Conference,
organised under the auspices of the Department of Economics of
the
University Ca Foscari of Venice, ABI - Italian Banking
Association and European Investment Bank, is the
fifteenth of a series dedicated to various aspects of credit
risk.
The banking industry has traditionally been shaped by the interplay
between innovations and regulatory trends. The global and
sovereign-debt crisis we have observed from 2007 and the harsher
regulatory reaction have impacted on banks capacity and willingness
to
direct financial flows to the real economy in appropriate amounts.
The
result has been an extremely feeble, and slow creditless recovery,
that
not even the pursuit of a historically low interest-rate monetary
policy
and QE appear so far capable of influencing. The markets reaction
to
this state of affairs has been to develop alternative or
complementary
ways to commercial banking to channel funds where needed, that is to
households, firms and infrastructure projects. Examples are (i)
alternative financing solutions: mini-bonds, SME guarantees,
Start-up and
Venture Capital/Private Equity, Business Angel financing,
payment-by-result bonds, securitization, microfinance and (ii)
Digital
finance like P2P lending and crowdfunding, The European
Commissions with the Capital Market Union project plan to foster
the
diversification of funding sources for enterprises, in particular
SMEs.
The organizers encourage submissions of papers on any topic within
the
overall theme of the conference and in the following areas in
particular:
How alternative and digital financing interplay with the
standard
funding channels?
Are alternative financing and financial innovations socially
useful
and valuable in solving the problem of supplying quality
resources to
the most vulnerable, financially deprived (e.g. households;
start-ups;
young entrepreneurs) and growth-enhancing (e.g. SMEs;
infrastructures)
sectors of the economy, thereby supporting social inclusion,
sustainable
growth and employment?
Do alternative and digital financial products and credit
innovations
offer an attractive risk/reward trade-off to potential
investors, be
consistent with their ALM requirements, yield expectations, risk
appetite
and wealth preserving objectives.
What should be the role of the public sector in promoting the
emergence and development of alternative financing channels for
the real
economy?
What is the role of innovative monetary policies (QE) in
promoting
these alternative and digital financing channels for the real
economy?
Do alternative and digital financing channels pose the same or
bigger
potential threats to financial stability? Should they be covered
by
adequate supervisory frameworks, or else justifiably expect a
more
lenient treatment?
The Scientific Committee for the Conference consists of: Loriana Pelizzon (Ca Foscari University of Venice, SAFE,
Goethe
University Frankfurt & GRETA,Programme Chair) Francesca Campolongo (JRC Unit Financial and Economic
Analysis) Marco Da Rin (Tilburg University) Helmut Kraemer-Eis (Head EIFs Research & Market
Analysis) Jan Peter Krahnen (SAFE & Goethe University Frankfurt) Adair Morse (Haas School of Business, University of
California at
Berkeley) Steven Ongena (University of Zurich, SFI & CEPR) Steven Schaefer (London Business School)
CALL FOR PAPERS
The final program will include both submitted and invited papers.
Acceptances received from invited speakers include Franklin
Allen
(Brevan Howard Centre, Imperial College London), Thomas
Hellman
(Oxford Said Business School) and Adair Morse (Haas
School of
Business, University of California at Berkeley). The Conference will
also
feature a panel discussion on researchers' and practitioners' views
of
the major outstanding problems.
Those wishing to present a paper at the Conference should submit by
May 15, 2016 to the address given below (preferably in
electronic
format). Please indicate to whom correspondence should be addressed.
Decisions regarding acceptance will be made by July 15, 2016.
The
final version of accepted papers must be received by August 31,
2016.
Local Organisers: Davide Alfonsi (Intesa Sanpaolo), Monica
Billio (Ca Foscari University of Venice & GRETA), Andrea
Giacomelli (Knowshape & GRETA), Pier Luigi Gilibert
(EIF,
Luxembourg) and Domenico Sartore (Ca Foscari University of
Venice
& GRETA)
IMPORTANT DATES
May 15, 2016: Papers submission deadline
July 15, 2016: Paper acceptance notification
August 31, 2016: Deadline for early registration
August 31, 2016: Deadline for sending final version of accepted
papers
More detailed information available on the Conference website: