Jeffrey Lawrence Callen - University of Toronto, Canada
Jeffrey L. Callen is the Rotman Chair of Accounting. His research interests include corporate valuation, accounting information and capital markets, efficiency measurement and the non-profit firm. He is the former Editor-in-Chief of the Journal of Accounting, Auditing and Finance. Currently he is an Editor of Contemporary Accounting Research, a Co-Editor of the International Journal of Accounting, and an Associate Editor of the Multinational Finance Journal. He serves on the editorial boards of the Accounting Review, China Journal of Accounting Research, International Journal of Disclosure and Governance and the ARN and FEN networks.
Steven Ongena - University of Zurich & Swiss Finance Institute, Switzerland
"Domestic Policies and International Spillovers Through Global Banks"
In today’s globally interconnected financial system, the effects of domestic policy actions reach far beyond national borders. Monetary policy, for example, can affect local and international financial markets in numerous ways: Via interest rates, asset prices, and the availability of credit. These monetary effects can then feed into the real side of the economy. Recent attention has turned to the impact of various domestic policies on the supply of credit to borrowers located abroad. The rise of global banks, i.e., banks which lend to borrowers cross-border or maintain foreign affiliates in many other countries, over the past two decades has added a sense of urgency to the study of many potential “global” bank lending channels.
Steven Ongena is a professor in banking at the University of Zurich and the Swiss Finance Institute in Switzerland. He is also a research fellow of CEPR and a research professor at KU Leuven. He has published more than 55 papers in refereed academic journals, including in the American Economic Review, Econometrica, Journal of Finance, Journal of Financial Economics, Journal of International Economics, Journal of Political Economy, Management Science and Review of Finance, among other journals, and he has published more than 50 papers in books and other collections. In 2012 he received a NYU-Fordham-RPI Rising Star in Finance Award.