Program Schedule

Thursday, November 5, 2015

5:30 pm - 8:00 pm  Opening Reception - Drury Inn & Suites MAP



Friday, November 6, 2015

10:00 am  Coffee and pastries, Bauer Hall, second floor 


Session 1: Equity Markets
Session Chair: David Denis, University of Pittsburgh

10:30 - 11:15 am    "Access to Credit and Stock Market Participation"
    by Denis Sosyura (University of Michigan), Serhiy Kozak (University of Michigan)
Discussant: Brian Melzer (Kellogg)
11:15 - 12:00 pm   "A Tough Act to Follow: Contrast Effects in Financial Markets"
    by  Kelly Shue (University of Chicago), Samuel Hartzmark (University of Chicago)
Discussant: Diego Garcia, University of North Carolina
12:00 - 1:00 pm   Lunch - Anheuser-Busch Dining Room, Knight Center


Session 2: Directors Panel on Corporate Governance

1:15 - 2:15 pm        

Walt Gavin, Director Aegion Corp., Ameren Corp., F.M. Global Insurance Co.

Ward Klein, Director Edgewell Personal Care, Brown Shoe Company

James S. Turley, Director Citigroup, Emerson Electric, Intrexon

Moderator: Stuart Greenbaum, Washington University in St. Louis


Session 3: Firms and Investors
Session Chair: Roni Michaely, Cornell University and IDC

2:30 - 3:15 pm   "Passive Investors, Not Passive Owners"
    by Todd Gormley (Wharton), Ian Appel (Wharton), Donald Keim (Wharton)
Discussant: Jonathan Cohn, UT Austin
3:15 - 4:00 pm         "Who Benefits from Bond Market Modernization?"
    by Jillian Popadak (Duke), David Musto (Wharton)
Discussant: Sudheer Chava, Georgia Tech
4:00 - 4:30 pm   BREAK


Session 4: Short Presentations

4:30 - 5:30 pm         Short Presentations of Early Ideas
5:45 - 7:00 pm    Cocktails and PhD Poster Session, Knight Hall Second Floor Atrium
7:00 - 8:30 pm   Dinner, Knight Hall Frick Forum, First Floor



Saturday, November 7, 2014

8:00 am  Coffee and pastries, Bauer Hall, second floor


Session 5: Empirical Corporate Finance      

Session Chair: Dirk Hackbarth, Boston University

8:30 - 9:15 am       "Financing Payouts"
     by Joan Farre-Mensa (Harvard), Roni Michaely (Cornell), Martin Schmalz (U. Michigan)
Discussant: David Denis, U. Pittsburgh
9:15 - 10:00 am   "The Human Factor in Acquisitions: Cross-industry Labor Mobility and Corporate Diversification"
                                    by Liu Yang (Maryland), Geoffrey Tate (UNC)
Discussant: Naveen Khanna, Michigan State University
10:00 - 10:30 am    BREAK


Session 6: Innovation                                                                                                                                      

Session Chair: Raj Singh, University of Minnesota

10:30 - 11:15 am        "The Local Innovation Spillovers of Listed Firms"

by Adrien Matray (Princeton)
Discussant: Laura Lindsey, Arizona State

11:15 am - 12 pm    "On Breakthroughs, Deadline, and the Nature of Progress: Optimal Contracts for Multistage Project"
    by Brett Green (Berkeley) and Curtis Taylor (Duke)
Discussant: Victoria Vanasco, Stanford
12:00 - 1:00 pm   Lunch - Anheuser-Busch Dining Room, Knight Center
Session 7: Banking
Session Chair: Sugato Bhattacharyya, University of Michigan
1:00 - 1:45 pm    "Liquidity Risk and Maturity Management Over The Credit Cycle"
    by Joao Santos (NY Fed) and Atif Mian (Princeton)
Discussant: Philip Strahan, Boston College
1:45 - 2:30 pm   "Information Sharing and Rating Manipulation"
                                       by: Mariassunta Gianetti (Stockholm School of Economics), Jose Liberti (DePaul), Jason Sturgess (DePaul)
Discussant: Ed Van Wesep, U. Colorado
2:30 - 2:45 pm    BREAK


Session 8: Risk Management
Session Chair: Phil Dybvig, Washington University in St. Louis

2:45 - 3:30 pm          "Derivatives and Risk Management by Commercial Banks"
    by Guillaume Vuillemey (HEC Paris)
Discussant: Vladimir Asriyan, CREI and Stanford
3:30 - 4:15 pm   "Risk Management Failures"
    by Matthieu Bouvard (McGill) and Samuel Lee
Discussant: Nadya Malenko