EURHISTOCK 1
First Seminar ‘European Stock Markets in Historical Perspective’
Universidad Carlos III Madrid, April 24-25, 2009
http://afhe.ehess.fr/document.php?id=1105
Organizers:
Stefano Battilossi (Carlos III), Pierre-Cyrille Hautcoeur
(Paris School of Economics), Stefan Houpt (Carlos III).
Sponsors:
GlobalEuroNet-Research Networking Programme of the European Science
Foundation; and Ministerio de Ciencia e Innovación (MICINN)-Acciones
Complementarias.
Program
Friday - April 24, 2009 - New quantitative research on historical stock markets
10:00 h. Reception
11:00-13:00 h.
SESSION 1
11:00 h.
David LeBris (Paris IV Sorbonne)
‘Why did French Savers Buy Foreign Assets before 1914?’
11:40 h.
Amir Rezaee (Orleans)
‘Performance and efficiency of a Corporate Bond market: The Paris
stock Exchange in 19th century’
12:20 h.
Peter Koudijs (Pompeu Fabra)
‘The boats that did not sail. Evidence on the sources of asset price
volatility from an 18th century natural experiment’
13:30-14:30 h. Lunch
14:30-16:30 h.
SESSION 2
14:30 h.
Elroy Dimson (London Business School)
‘Asset returns in the long run’ (with Paul Marsh and Mike Staunton)
15:10 h
Lyndon Moore (Victoria University and University of Montreal) ‘The
effect of World War One on stock market integration’
15:50 h.
Fabio Braggion (Tillburg)
‘British bank mergers and the London Stock Exchange, 1885-1925’ (with
Lyndon Moore)
16:30 h. Coffee
17:00-19:00 h.
SESSION 3
17:00 h.
David Chambers (Cambridge)
‘IPOs on the London Stock Exchange 1900-14’ (with Elroy Dimson)
17:40 h.
Sibylle Lehmann (Max Planck Institute)
‘Initial public offerings and capital market development in Germany
1870-1913’ (with Carsten Burhop)
18:20 h.
Stefano Battilossi (Carlos III)
‘Risk, Return and Volume in an Emerging Stock Market: The Bilbao Stock
Exchange, 1916-1936’ (with Stefan Houpt)
Saturday - April 25, 2009 - The Historical Evolution of Stock Market
Microstructure and Regulation
9:00-11:00 h.
SESSION 4
9:00 h.
Larry Neal (LSE)
‘The microstructure of Exchange Alley during the South Sea Bubble’
9:40 h.
Mary O'Sullivan (Wharton School, Pennsylvania)
‘Bonding Corporate America: The Development of the US Corporate Bond
Market, 1885-1930’
10:20 h.
Joachim Voth (CREF and Pompeu Fabra)
‘Biting the bears: a short squeeze in 1690s. London' (with Robert Zymek)
11:00 h. Coffee
11:30-13:30 h.
SESSION 5
11:30 h
Frans Buelens (Antwerp)
“Regulation of the Stock Exchange in an emerging market: between Law
and Practice. The Belgian Case (1801-1867)” (with H. Willems)
12:10 h.
Stefan Houpt (Carlos III)
‘Regulation and microstructure of the Spanish stock exchanges in the
XIX and early 20th centuries’ (with J.C. Rojo)
12:50 h.
Ranald Michie (Durham)
'Design or Default: Big Bang and the London securities market
13:30-14:30 h. Lunch
15:00-17:00 h.
SESSION 6
15:00 h.
Aldo Musacchio (Harvard)
‘Trading Places: Investor Protections, Microstructure, and Stock
Market Development circa 1910’
15:40 h.
Pierre-Cyrille Hautcoeur
‘The Paris financial market in the 19th century: an efficient
multi-polar organization?’ (with A. Riva)
16:20 h.
Angelo Riva (EBS Paris)
“The stock exchange externality puzzle: evidence from the French Stock
Exchanges during WWII”(with K. Oosterlinck)
17:00 h.
Conclusions and Road-Map
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