Sixth Annual Conference on Corporate Finance

SIXTH ANNUAL CONFERENCE ON CORPORATE FINANCE
November 12-13, 2009

Wednesday, November 11, 2009

6:30 p.m. - Reception at the Knight Center Pub

Thursday, November 12, 2009

8:30 a.m. - Continental Breakfast

ALL SESSIONS HELD IN ROOM 220 OF THE KNIGHT CENTER

Session 1: Banks and Lending

Chair: Anjan V. Thakor (Washington University in St. Louis)

9:00 - 9:45 "What's Bank Reputation Worth? The Effect of Fraud on Financial Contracts and Investments" by Huidan Lin (International Monetary Fund) and Daniel Paravisini (Columbia University)
Discussant: Ramana Sonti (Indian School of Business)

9:45 - 10:30 "Information Disclosure, Cognitive Biases and Payday Borrowing" by Marianne Bertrand (University of Chicago) and Adair Morse (University of Chicago)
Discussant: Todd Gormley (University of Pennsylvania)

10:30 - 11:00 Break

Session 2: Agency Conflicts

Chair: Ronald Masulis (Vanderbilt University)

11:00-11:45 "Product Market Competition and Agency Conflicts: Evidence from the Sarbanes Oxley Law" by Vidhi Chhaochharia (University of Miami), Yaniv Grinstein (Cornell University), Gustavo Grullon (Rice University) and Roni Michaely (Cornell University)
Discussant: Simi Kedia (Rutgers University)

11:45-12:30 "Agency Costs, Mispricing and Ownership Structure" by Sergey Chernenko (Harvard University), Fritz Foley (Harvard University) and Robin Greenwood (Harvard University)
Discussant: David Matsa (Northwestern University)

12:30 - 2:00 Lunch

Session 3: Corporate Structure

Chair: David Goldreich (University of Toronto)

2:00-2:45 "Understanding Internal Capital Markets and Corporate Politics in a Banking Group" by Martijn Cremers (Yale University), Rocco Huang (Federal Reserve Bank of Philadelphia) and Zacharias Sautner (University of Amsterdam)
Discussant: Mark Leary (Cornell University)

2:45-3:30 "Do Powerful Politicians Cause Corporate Downsizing?" by Lauren Cohen (Harvard University), Joshua Coval (Harvard University) and Christopher Malloy (Harvard University)
Discussant: Eitan Goldman (Indiana University)

3:30 - 4:00 Break

Session 4

Chair: Todd Milbourn (Washington University in St. Louis)

4:00-5:30 Short presentations of early ideas

Alex Edmans (University of Pennsylvania), David Goldreich (University of Toronto), Radha Gopalan (Washington University in St. Louis), Robin Greenwood (Harvard University), Gerard Hoberg (University of Maryland), Rocco Huang (Federal Reserve Bank of Philadelphia), Adair Morse (University of Chicago), Uday Rajan (University of Michigan), Jun Yang (Indiana University), and Deniz Yavuz (Washington University in St. Louis)

6:30 Cocktails and Hors D'oeurvres

Friday, November 13, 2009

8:00 a.m. - Continental Breakfast

Session 5: Compensation and Incentives

Chair: Gerald Garvey (Barclays Global Investors)

8:30-9:15 "Investment Banking (and Other High Profile) Careers" by Philip Bond (University of Pennsylvania) and Ulf Axelson (Stockholm School of Economics)
Discussant: Uday Rajan (University of Michigan)

9:15-10:00"Dynamic Incentive Accounts" by Alex Edmans (University of Pennsylvania), Xavier Gabaix (New York University), Tomasz Sadzik (New York University) and Yuliy Sannikov (Princeton University)
Discussant: Phil Dybvig (Washington University in St. Louis)

10:00-10:30 Break

Session 6: Innovation and Markets

Chair: Roni Michaely (Cornell University)

10:30-11:15 "Tolerance for Failure and Corporate Innovation" by Xuan Tian (Indiana University) and Tracy Yue Wang (University of Minnesota)
Discussant: Merih Sevilir (University of North Carolina)

11:15-12:005 "Innovations and Investment Bubbles" by Praveen Kumar (University of Houston) and Nisan Langberg (University of Houston)
Discussant: Ron Kaniel (Duke University)

12:00-1:30 Lunch

Session 7: Mergers and Acquisitions

Chair: Armando Gomes (Washington University in St. Louis)

1:30-2:15 "Product Market Synergies and Competition in Mergers and Acquisitions" by Gerard Hoberg (University of Maryland) and Gordon Phillips (University of Maryland)
Discussant: Dirk Hackbarth (University of Illinois at Urbana-Champaign)

2:15-3:00 "World Markets for Mergers and Acquisitions" by Isil Erel (Ohio State University), Rose Liao (Ohio State University) and Michael Weisbach (Ohio State University)
Discussant: Sandy Klasa (University of Arizona)

Adjourn