Annual Conference 2008
Monday-Tuesday ,12-13 may , 2008
The Arison School of Business, Interdisciplinary Center (IDC), Herzliya
Conference Co-Organizers:
Jacob Boudoukh (IDC)
Roni Michaely (Cornell and IDC)
Monday, 12 May 2008
08:30 Registration and coffee
09:00 The Changing Nature
Session chair: Jim Schalleim (University of Utah)
Sreedhar T. Bharath (Ross School of Business, University of Michigan)
"The Changing Nature of Chapter 11"
Discussant: Kai Li (Sauder School of Business, University of British Columbia)
Eric Zitzewitz (Dartmouth College)
"An Eliot Effect? Prosecutorial Discretion in Mutual Fund Settlement Negotiations, 2003-7"
Discussant: Richard S. Ruback (Harvard Business School
10:30 Coffee Break
10:45 Credit
Session chair: Prof. Jacob Boudoukh (The Caesarea Center, IDC and NBER)
Michael B. Gordy (Board of Governors of the Federal Reserve System)
"The Bank as Grim Reaper: Debt Composition and Recoveries on Defaulted Debt"
Discussant: Mark Leary (The Johnson School at Cornell University)
Nikunj Kapadia (University of Massachusetts)
"Limited Arbitrage between Equity and Credit Markets"
Discussant: Lu Zhang (Ross School of Business, University of Michigan)
12:30 Lunch
13:30 Corporate
Session chair: Alon Brav (Duke University and NBER)
Jonathan Berk (University of California Berkley, and NBER)
"Human Capital, Bankruptcy, and Capital Structure"
Discussant: David Goldreich (Rotman School of Management, University of Toronto)
Efraim Benmelech (Harvard University and NBER)
"Stock-Based Compensation and CEO (Dis)Incentives "
Discussant: Ilan Kremer (Stanford University)
19:30 Dinner
Tuesday, 13 May, 2008
09:00 Investments and Methodology
Session chair: Elena-Claudia Moise, (Case Western Reserve University)
Mattew Spiegel (Yale School of Management)
"Equity Issuance and Expected Returns: Theory and New Evidence"
Discussant: Jacob Sagi (Owen School of Management, Vanderbilt University)
Roni Michaely (Cornell and IDC)
"Corporate Payout Policy and Product Market Competition"
Discussant: Amir Barnea (University of Texas at Austin
10:30 Coffee Break
10:45 Empirical Investments
Session chair: Kent L. Womack, Tuck School of Business, Dartmouth College
Evgeny Lyandres (Rice University, Huston TX)
"Real Options, Uncertainty, and Stock Returns"
Discussant: Lauren Cohen (Harvard Business School.
Joel Peress (INSEAD, Department of Finance)
"Product Market Competition, Insider Trading and Stock Market Efficiency"
Discussant: Yaniv Grinstein (Johnson School, Cornell University
12:15 Lunch
13:30 Empirical Corporate
Session chair: Yael Hochberg (Kellogg School of Management, Northwestern University)
Enrique Schroth (HEC Lausanne and Swiss Finance Institute)
Determinants of the Block Premium and of Private Benefits of Control
Discussant: Gennaro Bernile (University of Miami)
Li Jin (Harvard Business School)
"Institutional Tax Clienteles and Payout Policy"
Discussant: Scott Weisbenner (University of Illinois and NBER)
15:00 Closing Ceremony
Best Paper Award
Cocktail party
Paper Selection Committee Members:
Alon Brav (Duke), Jacob Boudoukh (program co-chair, IDC Herzliya), Yaniv Grinstein (Cornell), Gustavo Grullon (Rice), Michael Lemmon (Utah), Roni Michaely (program co-chair, Cornell & IDC Herzliya), Michael Roberts (Pennsylvania), Jacob Sagi (Vanderbilt), Oded Sarig (IDC Herzliya), Dimitri Vayanos (LSE), Jiang Wang (MIT), David Weinbaum (Cornell)
19:30 Dinner