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January 27, 20
8.30-9.00 
9.00-11.00  
   
   
    11.00-11.30 
11.30-12.30     
12.30-14.00 
14.00-1.00           1.00-1.30 
1.30-1.0         18.00-19.00    
Registration
Groupement d’intérêt Scientifique ENSAE - HEC - X
The 3rdAnnual Conference on Hedge Funds “Market intermediaries, financial markets, and the real economy”
Paris - January 27th- 28th, 20
Organizers: erge arollesyor A and CT Christian ouriérouCT and niersity of Toronto aid ThesarHC Paris
Session 1: Equities and Leverage Chair: R. Sadka (Boston College) T. Adrian (Federal Reserve Bank of New York), E. Etula (Federal Reserve Bank of New York), . uir (Northwestern niversit) Broker-Dealer Leverage and the Cross-Section of Stock Returns isussant: . ilson (niversit of ford)
. ng (Coluia niversit),S. Gorovyy (Columbia niversiy), S. an nwegen (v sset anageent) Hedge Fund Leverage isussant: R. Savona (niversit of Bresia)
. Benavid (hio State niversit), F. Franoni (niversit of ugano),A. andier (Toulouse Sool of onomis), R. oussawi (niversit of ennslvania) Stock Price Manipulation b Hedge Funds isussant: .ero (Evr niversit and CRES) eaCoffee
Keynote Speaker Chair: . Cordell (NYSE iffe)  . Aarya (New York niversiy) Sovereign Credit Risk
unh
Session 2: arkets and oatiity Chair: C.ourierou (niversit of oronto and CRES) T. Ramadorai (niversiy of ford) nvestor nterest and Hedge Fund Returns isussant: . oert (EC aris) B. ovanovi (New York niversit),A. enkveld ( niversiy Amserdam) Middleen in Liit-rder Markets isussant: . e Fol (auhine niversit and CRES) N. ang (Boston College), . ondor (Central Euroe niversit),R. Sadka (Boson Collee) diosncratic Return olatilit in the Cross-Section of Stocks isussant: R. aria (EEC) eaCoffee
Session 3: noration rodution and edge unds Chair: R. aria (EEC)  R. Sadka (Boston College),G. ik (C) Media and nvestent Manageent isussant: C. érignon (EC aris) S. Chung (Singaore anageent niversit),. Teo (Sinaore anaemen niversiy) Hedge Funds and nalst ptiis isussant: . eilethe (oard dier) Keynote Speaker Chair: : Seer (or )Supported by . . Bouaud (Caial Fund anaemen)
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