Program Schedule

Friday, November 1, 2013

8:00 am  Continental Breakfast - Knight Center 2nd Floor Break Area


Session 1: Labor Markets

Session Chair: Vish Viswanathan, Duke University

10:30 - 11:15 am    Informed Trading and High Compensation in Finance 
    by Vincent Glode (Wharton), and Richard Lowry (University of Texas, Austin)
Discussant: Yaron Leitner, Federal Reserve Bank of Philadelphia
11:15 am - 12:00 pm   Internal Labor Markets and Investment in Conglomerates 
    by Rui Silva (London Business School)
Discussant: Denis Sosyura, University of Michigan

12:00 - 1:00 pm   Lunch - Anheuser-Busch Dining Room, Knight Center 
1:15 -  2:30 pm   Session 2: CFO Panel on Corporate Financial Policy
    Jan Bertsch, Sigma-Aldrich
Michael Crews, Peabody Energy
Wade Miquelon, Walgreens
Moderator: Michael Roberts, Wharton

2:30 - 2:45 pm   Break

Session 3: Collateral and Credit Risk

Session Chair: Michael Roberts, University of Pennsylvania

2:45 - 3:30 pm   Housing Collateral and Entrepreneurship 
    by Martin Schmalz (Michigan), David Sraer (Princeton), and David Thesmar (HEC)
Discussant: Phil Strahan, Boston College
3:30 - 4:15 pm    Rising Intangible Capital, Shrinking Debt Capacity, and the US Corporate Savings Glut 
    by Antonio Falato (Federal Reserve Board), Dalida Kadyrzhanova (Maryland), and Jae Sim (Federal Reserve Board)
Discussant: Vish Viswanathan, Duke University
4:15 - 4:30 pm    Break 
4:30 - 5:15 pm   Are Credit Ratings Subjective? The Role of Credit Analysts in Determining Ratings 
    by Cesare Fracassi (University of Texas, Austin), Stefan Petry (Melbourne),
and Geoffry Tate (University of North Carolina)
Discussant: Jess Cornaggia, Georgetown University  
5:45 - 7:30 pm    Cocktails and PhD Poster Session - Anheuser-Busch Dining Room, Knight Center 
7:30 - 9:00 pm    Dinner, Ibby's 

PhD Poster Session and Selection of Best Paper Award in Honor of Professor Stuart I. Greenbaum

Poster Session Finalists:

Jun Kyung Auh, Columbia Business School
Stephen Karolyi, Yale University
William Mann, University of Pennsylvania
Jillian Popadak, University of Pennsylvania
Emil Siriwardane, New York University
Boris Vallee, HEC Paris
Michael Weber, University of California, Berkeley
Eric Zwick, Harvard Business School

Saturday, November 2, 2013

8:00 am  Continental Breakfast - Knight Center 2nd Floor Break Area

Session 4: Venture Capital and Private Equity

Session Chair: Phil Strahan, Boston College

8:30 - 9:15 am   Posturing and Efficient Contracting in Venture Capital 
    by Richmond Mathews (Maryland), and Naveen Khanna (Michigan State)
Discussant: John Zhu, University of Pennsylvania 
9:15 - 10:00 am    The Operational Consequences of Private Equity Buyouts: Evidence from the Restaurant Industry 
    by: Albert Sheen (Harvard Business School) and Shai Bertstein (Stanford University)
Discussant: Arthur Korteweg, Stanford University 
10:00 - 10:30 am     Break

Session 5: Corporate Governance

Session Chair: Jay Hartzell, University of Texas at Austin

10:30 - 11:15 am    The Product Market Effects of Hedge Fund Activism 
    by Praveen Kumar (University of Houston) and Hadiye Aslan (University of Houston)
Discussant: Hyunseob Kim, Cornell University 
11:15 am - 12:00 pm    Shareholder Democracy in Play: Career Consequences of Proxy Contests 
    by Vyacheslav Fos (University of Illinois) and Margarita Tsoutsoura (University of Chicago)
Discussant: Jun Yang, Indiana University 
12:00 - 1:00 pm    Lunch - Anheuser-Busch Dining Room, Knight Center 

Session 6: Lending Markets

Session Chair: Anjan Thakor, Washington University in St. Louis

1:00 - 1:45 pm   The Impact of Creditor Control on Corporate Bond Pricing and Liquidity 
    by Oguzhan Karakas (Boston College), Edi Hotchkiss (Boston College), and Peter Feldhutter (LBS)
Discussant: Justin Murfin, Yale University 
1:45 - 2:30 pm   Design of Financial Securities: Empirical Evidence from Private-Label RMBS Deals 
    by Taylor Begley (University of Michigan) and Amiyatosh Purnanandam (University of Michigan)
Discussant: Jay Hartzell, University of Texas, Austin 
2:30 - 3:15 pm    Hidden Gems and Borrowers with Dirty Little Secrets: Investment in Soft Information,
Borrower Self-selection and Competition
    by Reint Gropp (Goethe University), Christian Grundl (EBS University),
and Andre Guttler (University of Ulm)
Discussant: Vijay Yerramilli, University of Houston 
3:15 pm    Adjourn