Academic Annual Conference 2010

Monday-Tuesday ,31 May- 01 June , 2010

The Arison School of Business, Interdisciplinary Center (IDC), Herzliya

Conference Co-Organizers:
Jacob Boudoukh (IDC)
Roni Michaely (Cornell and IDC)

Monday, 31 May 2010
​ Location: Sami Ofer Building, Room C 108​
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08:30​ Registration and coffee​
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09:00​ Opening remarks
Professor Yair Tauman, Dean of the Arison School of Business at IDC Herzliya
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09:05​ Risk and Return
Session Chair: Jacob Boudoukh, IDC ​

​ How Much Do Investors Care About Macroeconomic Risk? Evidence From Scheduled Economic Announcements"
Pavel Savor, Wharton School, University of Pennsylvania
Mungo Wilson, Said Business School, Oxford University

Discussant: Effi Benmelech, Economics Department, Harvard Business School
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Does Beta Move with News? Firm-Specific Information Flows and Learning about Profitability
Andrew Patton, Department of Economics, Duke University
Michela Verardo, Department of Finance, London School of Economics

Discussant: Ohad Kadan, Olin Business School , Washington University in St.Louis
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10:30​ Coffee Break
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11:00 Banking and Corporate
​ Session chair: Anat Admati, Stanford Graduate School of Business, Stanford University ​
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​ Global Retail Lending in the Aftermath of the US Financial Crisis: Distinguishing between Supply and Demand Effects"
Manju Puri, Fuqua School of Business, Duke University and NBER
Joerg Rocholl , European School of Management and Technology
Sascha Steffe , Department of Banking and Finance, University of Mannheim

Discussant: Vikrant Vig, London BUSINESS School
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​ "Collateral and Capital Structure"
Adriano Rampini, Fuqua School of Business, Duke University
S. Viswanathan, Fuqua School of Business, Duke University

Discussant: Ilya Strebulaev, Graduate School of Business, Stanford University
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12:30​ Lunch
Lunch Keynote: Lawrence J. White, Leonard N. Stern School of Business, New York University
The Industrial Organization of the U.S. Single-Family Residential Mortgage Industry ​
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13:45​ Corporations and Capital Markets
Session chair: Gideon Saar, The Johnson School, Cornell University
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​ "Takeover Activity and Target Valuations: Feedback Loops in Financial Markets"
Alex Edmans, The Wharton School, University of Pennsylvania
Itay Goldstein, The Wharton School, University of Pennsylvania
Wei Jiang, Graduate School of Business, Columbia University

Discussant: Jacob S. Sagi, Owen Graduate School of Management, Vanderbilt University
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​ "Learning from Stock Prices and Economic Growth"
Joel Peress, Finance Department, INSEAD

Discussant: Stefano Rossi, Imperial Collage, Business school


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19:30​ Dinner​
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Tuesday, 01 June, 2010
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08:30​ Coffee​
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09:00​ Corporate Governance
Session chair: Yael Hochberg, Kellogg School of Management, Northwestern University
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​ "CEO Pay and CEO Power: Evidence from a Dynamic Learning Model"
Lucian Taylor, Wharton School, University of Pennsylvania

Discussant: Evgeny Lyandres, School of Management, Boston University
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​ "Corporate Governance and Managerial Reputational Concerns"
Jonathan Cohn, McCombs School of Business, University of Texas at Austin
Uday Rajan, Ross School of Business, University of Michigan

Discussant: Philip Bond, Wharton School, University of Pennsylvania
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10:30 Coffee​ Break​
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11:00​ "Behavioral"
Session chair: Kent L. Womack, Tuck School of Business, Dartmouth College
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​ "Nature or Nurture: What Determines Investor Behavior?"
Amir Barnea, Claremont McKenna College , Robert Day School of Economics and Finance
Henrik Cronqvist, Claremont McKenna College , Robert Day School of Economics and Finance
Stephan Siegel, Michael GFoster Scholl of Business , University of Washington.

Discussant: David Goldreich, Rotman School of Management,University of Toronto.
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​Barriers to HouseholdRisk Management: Evidence from India
Shawn Cole, Harvard Business School
Xavier Gine, World Bank, DECRG
Jeremy Tobacman, Wharton School, University of Pennsylvania
Petia Topalova, IMF
Robert Townsend, MIT Economics Department
James Vickery, Federal Reserve Bank of New York

Discussant: David Musto, Wharton School, University of Pennsylvania
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12:30​ Lunch
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13:30​ "Corporate Finance"
Session chair: François Derrien, HEC School of Management Paris

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​ "Catering with Multiple Maturities?"
Nishant Dass, College of Management, Georgia Institute of Technology
Massimo Massa, Finance Department, INSEAD

Discussant: Dirk Jenter, Graduate School of Business, Stanford University
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​ "Decoding Inside Information"
Lauren Cohen, Harvard Business School and NBER
Christopher Malloy, Harvard Business School
Lukasz Pomorski, Rotman School of Management, University of Toronto

Discussant: Julian Franks, London Business School
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15:00​ Closing Ceremony
Best Paper Award
Best Discussant Award
Cocktail party

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Paper Selection Committee Members:​
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​ Anat Admati (Stanford University) Jonathan Berk (Stanford), Alon Brav (Duke), Itay Goldstein (Wharton), Vidan Goyal (Hong Kong), Yaniv Grinstein (Cornell), Gustavo Grullon (Rice),Ohad Kadan (Washington) Ilan Kremer (Stanford), Mark Leary (Cornell), Uday Rajan (Michigan), Jay Ritter (Cornell), Amir Rubin (Simon Fraser University), Jacob Sagi (Vanderbilt), David Scharfstein (Harvard), Clemens Sialm (Texas at Austin), Dimitri Vayanos (LSE), Robert Whitelaw (NYU), Avi Wohl (TAU).


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16:00 End of Schdule