Summary of All Sessions |
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Click here for an index of all participants |
| Date/Time | Location | Title | Papers |
|---|---|---|---|
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Government Policies and Markets | 4 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Institutional Investors and Alternative Assets | 4 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Nob Hill A & B | High-Frequency Trading | 4 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Nob Hill C & D | Aggregate volatility shocks: real and financial effects | 3 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 1 & 2 | The Influence of Markets on Corporate Policy | 3 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 14 & 15 | Innovations and Behavior in Household Finance | 3 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Law and the Business and Social Environment | 4 |
| January 3, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Liability Structure and Funding Risk of Banks | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Raising Capital | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 14 & 15 | CEOs/CFOs/Boards | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 10 & 11 | R&D, Patents, and Innovation | 4 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Nob Hill A & B | Environmental Information and Asset Pricing | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Equity Factors | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Macroprudential Regulation and Financial Crises | 3 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Liquidity, Frictions, and Limits to Arbitrage | 4 |
| January 3, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salon 8 | AFA Panel - Is the Refereeing Process Broken? Perspectives of Top-Journal Editors | 0 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Information Processing, Transmission and Trading | 4 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Nob Hill A & B | Compensation and Agency | 4 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Nob Hill C & D | Corporate Disclosure and Accounting | 3 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Finance and the Firm's Workforce | 3 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Private Equity | 4 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Pricing of Variance and Tail Risk in Derivatives Markets | 3 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salon 8 | AFA Panel - Sports, Economics, and Finance | 0 |
| January 3, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Firms and Markets | 3 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Nob Hill C & D | Variance and Crash Risk Pricing | 4 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 14 & 15 | Security and Market Mechanism Design | 4 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Investment Policy, Risk Taking and Hedging | 4 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Culture, Ethics and Finance | 3 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Regulatory Behavior and Design | 4 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Limits to Arbitrage | 3 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Behavioral Finance | 4 |
| January 4, 2016 8:00-10:00 | Marriott Marquis, Nob Hill A & B | Advances in International Finance | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Nob Hill A & B | Institutional Biases and Asset Prices | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Behavioral CEOs | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Dimensions of Governance Revisited | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 14 & 15 | Information Frictions in Asset Markets | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Financial System Stability | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Financial markets and government interactions | 3 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Fund Managers | 4 |
| January 4, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salon 8 | AFA Panel - Cryptocurrencies, Blockchains and the Future of Financial Services | 0 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 14 & 15 | The Cross-section of Expected Returns | 3 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Pricing of Macroeconomic Risk | 4 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Governance Threats, Consequences and Countermeasures | 4 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Nob Hill A & B | The Market for Corporate Control | 4 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Intermediation and Raising Capital | 4 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Social Media and Textual Analysis in Finance | 4 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Euro-area Bank Liquidity | 3 |
| January 4, 2016 14:30-16:30 | Marriott Marquis, Yerba Buena Salon 8 | AFA Lecture - Neuroscience and Finance | 0 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Uncovering Alpha: Informed Traders across the World | 4 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Nob Hill A & B | Hedge Funds | 4 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Behavioral Finance: Investor Behavior and Asset Prices | 3 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Nob Hill C & D | Networks and Local Knowledge | 4 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Bankruptcy and Distress | 3 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Banks, Downturns, and Disasters | 4 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 14 & 15 | Corporate Control - Governance | 4 |
| January 5, 2016 8:00-10:00 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Competition, Contracting Frictions, and Commodity Markets: Implications for Asset Prices | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Pacific A | Dividends, Repurchases and Payout Policy | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Nob Hill A & B | Information and Noise | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Nob Hill C & D | Mutual Funds and Delegated Management | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Credit Risk | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 5 & 6 | Dynamic Corporate Finance | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Entrepreneurial Finance and Crowdfunding | 3 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 14 & 15 | Governments and Stock Prices | 3 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Financial Advisors and Financial Advice | 4 |
| January 5, 2016 10:15-12:15 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Capital Structure and Cash Holdings | 3 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 1 & 2 | Bond Markets | 4 |
| January 5, 2016 13:00-15:00 | Parc 55, Powell II | Special Topics: Real Estate | 4 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 3 & 4 | Commodities | 4 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 14 & 15 | International Risk Sharing and Capital Flows | 4 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Nob Hill C & D | Transparency, Corporate Governance, and Firm Value | 3 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 10 & 11 | Empirical Studies of Banking | 3 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 12 & 13 | Illiquidity in Financial Markets: Information, Taxes and Temperature | 4 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Nob Hill A & B | Shareholder Activism and the Market for Corporate Control | 4 |
| January 5, 2016 13:00-15:00 | Marriott Marquis, Yerba Buena Salons 5 & 6 | AFA Panel - Current Public Policy Issues and Finance | 0 |
74 sessions, 251 papers, and 9 presentations with no associated papers |
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American Finance Association Annual Meeting |
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Detailed List of Sessions |
| Session: Government Policies and Markets January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 12 & 13 |
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| Session Chair: Anna Cieslak, Northwestern University |
| Is the revolving door of Washington a back door to excess corporate returns? |
| By Mehmet Canayaz; University of Oxford Jose Martinez; University of Connecticut Han Ozsoylev; University of Oxford |
| Discussant: Vyacheslav Fos, University of Illinois at Urbana-Champaign |
| Regulatory Arbitrage in Repo Markets |
| By Ben Munyan; University of Maryland |
| Discussant: Antoine Martin, Federal Reserve Bank of New York |
| Student Loans and the Rise in College Tuition: Evidence from the Expansion in Federal Loan Programs |
| By David Lucca; Federal Reserve Bank of New York Taylor Nadauld; Brigham Young University |
| Discussant: Brian Melzer, Northwestern University |
| When transparency improves, must prices reflect fundamentals better? |
| By Snehal Banerjee; University of California-San Diego Jesse Davis; Northwestern University Naveen Gondhi; Northwestern University |
| Discussant: Laura Veldkamp, NYU Stern |
| Session: Institutional Investors and Alternative Assets January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Anna Pavlova, London Business School |
| How to Squander Your Endowment: Pitfalls and Remedies |
| By Phil Dybvig; Washington University, St. Louis. Qin Zhenjiang; Southwestern University of Finance and Economics |
| Discussant: Thomas Gilbert, University of Washington |
| Riding the Bubble with Convex Incentives |
| By Juan Sotes-Paladino; The University of Melbourne Fernando Zapatero; University of Southern California |
| Discussant: Andrea M. Buffa, Boston University |
| Where Experience Matters: Asset Allocation and Asset Pricing with Opaque and Illiquid Assets |
| By Adrian Buss; INSEAD Raman Uppal; Edhec Business School Grigory Vilkov; Frankfurt School of Finance and Management |
| Discussant: Christian Heyerdahl-Larsen, London Business School |
| Does it Pay to Invest in Art? A Selection-corrected Returns Perspective |
| By Arthur Korteweg; University of Southern California Roman Kraussl; University of Luxembourg and Emory University Patrick Verwijmeren; Erasmus School of Economics |
| Discussant: Ludovic Phalippou, University of Oxford |
| Session: High-Frequency Trading January 3, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill A & B |
| Session Chair: Albert Menkveld, VU University Amsterdam |
| The Welfare Impact of High Frequency Trading |
| By Giovanni Cespa; Cass Business School Xavier Vives; IESE Business School |
| Discussant: Andreas Park, University of Toronto |
| High-Frequency Trading and Market Stability |
| By Dion Bongaerts; Erasmus University, Rotterdam Mark Van Achter; Rotterdam School of Management, Erasmus |
| Discussant: Shmuel Baruch, University of Utah |
| Anticipatory Traders and Trading Speed |
| By Raymond Fishe; University of Richmond Richard Haynes; CFTC Esen Onur; CFTC |
| Discussant: Joel Hasbrouck, Stern School, New York University |
| High-frequency trading and extreme price movements |
| By Jonathan Brogaard; University of Washington, Seattle Al Carrion; Lehigh University Thibaut Moyaert; Louvain School of Management Ryan Riordan; Queen's University Andriy Shkilko; Wilfrid Laurier University Konstantin Sokolov; Wilfrid Laurier University |
| Discussant: Maureen O'Hara, Cornell University |
| Session: Aggregate volatility shocks: real and financial effects January 3, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill C & D |
| Session Chair: Stefano Giglio, University of Chicago |
| Uncertainty and International Capital Flows |
| By Francois Gourio; FRB Chicago Michael Siemer; Federal Reserve Board Adrien Verdelhan; MIT Sloan |
| Discussant: Helene Rey, London Business School |
| Flight-to-Safety in the Nonlinear Risk-Return Tradeoff for Stocks and Bonds |
| By Tobias Adrian; Federal Reserve Bank of New York Richard Crump; Federal Reserve Bank of New York Erik Vogt; Federal Reserve Bank of New York |
| Discussant: Eric Ghysels, UNC |
| Inventory Risk, Market-Maker Wealth, and the Variance Risk Premium: Theory and Evidence |
| By Mathieu Fournier; HEC Montréal Kris Jacobs; University of Houston |
| Discussant: Ian Dew-Becker, Northwestern University |
| Session: The Influence of Markets on Corporate Policy January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Amy Dittmar, University of Michigan |
| The Rise of the Equity Lending Market: Implications for Stock Repurchases and Corporate Cash |
| By Murillo Campello; Cornell University and NBER Pedro Saffi; Judge Business School |
| Discussant: Ran Duchin, University of Washington |
| Kicking Maturity Down the Road: Early Refinancing and Maturity Management in the Corporate Bond Market |
| By Qiping Xu; University of Notre Dame |
| Discussant: Taylor Begley, London Business School |
| The Risk Anomaly Tradeoff of Leverage |
| By Malcolm Baker; Harvard Business School Jeffrey Wurgler; NYU Stern School of Business |
| Discussant: Hui Chen, Massachusetts Institute of Technology |
| Session: Law and the Business and Social Environment January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Jarrad Harford, University of Washington |
| Law and Finance Matter: Lessons from Externally Imposed Courts |
| By James Brown; Iowa State University J. Anthony Cookson; University of Colorado Rawley Heimer; Federal Reserve Bank of Cleveland |
| Discussant: David Robinson, Duke University |
| How Collateral Laws Shape Lending and Sectoral Activity |
| By Charles Calomiris; Columbia University Mauricio Larrain; Columbia University Jose Liberti; DePaul University Jason Sturgess; Kellstadt Graduate School of Business |
| Discussant: Scott Frame, Federal Reserve Bank of Atlanta |
| Measuring Contract Completeness: A Text Based Analysis of Loan Agreements |
| By Bernhard Ganglmair; University of Texas at Dallas Malcolm Wardlaw; University of Texas-Dallas |
| Discussant: Greg Nini, Drexel University |
| Whither Delaware? Limited Commitment and the Financial Value of Corporate Law |
| By Martijn Cremers; University of Notre Dame Simone Sepe; Toulouse School of Economics |
| Discussant: Jonathan Karpoff, University of Washington |
| Session: Innovations and Behavior in Household Finance January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Adair Morse, University of California at Berkeley |
| The Display of Information and Household Investment Behavior |
| By Maya Shaton; Federal Reserve Board of Governors |
| Discussant: Brad Barber, UC Davis |
| Adverse Selection and Maturity Choice in Consumer Credit Markets: Evidence from an Online Lender |
| By Andrew Hertzberg; Columbia University Andres Liberman; New York University Stern School of Business Daniel Paravisini; LSE |
| Discussant: Mitchell Petersen, Northwestern University, Kellogg |
| Do Credit Card Companies Screen for Behavioral Biases? |
| By hong ru; MIT Sloan Antoinette Schoar; Massachusetts Institute of Technology |
| Discussant: Justine Hastings, Brown University |
| Session: Liability Structure and Funding Risk of Banks January 3, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Charles Calomiris, Columbia University |
| Bank Liability Structure |
| By Suresh Sundaresan; Columbia University Zhenyu Wang; Indiana University |
| Discussant: Deborah Lucas, MIT |
| Double Bank Runs and Liquidity Risk Management |
| By Filippo Ippolito; Universitat Pompeu Fabra Jose Luis Peydro; Universitat Pompeu Fabra Andrea Polo; Universitat Pompeu Fabra and Barcelona GSE Enrico Sette; Bank of Italy |
| Discussant: Heitor Almeida, University of Illinois at Urbana-Champaign |
| Banks, Taxes, and Nonbank Competition |
| By George Pennacchi; University of Illinois |
| Discussant: Charles Calomiris, Columbia University |
| Session: Raising Capital January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Manju Puri, Duke University |
| Why does the U.S. have so few listed firms? |
| By Craig Doidge; University of Toronto Andrew Karolyi; Cornell University Rene Stulz; The Ohio State University |
| Discussant: Jonathan Reuter, Boston College |
| Institutional Bidding in IPO Allocation: Evidence from China |
| By Jerry Cao; Singapore Management University Tiecheng Leng; Lingnan College, Sun Yat-sen University Bo Liu; University of Electronic Science and Technology of China William Megginson; University of Oklahoma |
| Discussant: N R Prabhala, University of Maryland, College Park and CAFRAL |
| The Real Effects of Equity Issuance Frictions |
| By Matthew Gustafson; Pennsylvania State University Peter Iliev; Penn State University |
| Discussant: Joan Farre-Mensa, Harvard Business School |
| Session: CEOs/CFOs/Boards January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Carola Frydman, Northwestern University |
| Knighthoods, Damehoods and CEO Behaviour |
| By Konrad Raff; Norwegian School of Economics Linus Siming; Università Bocconi and IGIER |
| Discussant: Geoffrey Tate, University of North Carolina - Chapel Hill |
| The Contract Year Phenomenon in the Corner Office: An Analysis of Firm Behavior During CEO Contract Renewals |
| By Ping Liu; University of Illinois at Urbana-Champaign Yuhai Xuan; Harvard Business School |
| Discussant: Dirk Jenter, Stanford University |
| Playing it Safe? Managerial Preferences, Risk, and Agency Conflicts |
| By Todd Gormley; University of Pennsylvania David Matsa; Northwestern University |
| Discussant: Joshua Rauh, Stanford University |
| Session: R&D, Patents, and Innovation January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Gustavo Manso, Berkeley-Haas |
| Do Stock Markets Promote Innovation? Evidence from the Enforcement of Insider Trading Laws |
| By Ross Levine; University of California, Berkeley Lin Chen; University of Hong Kong Lai Wei; The University of Hong Kong |
| Discussant: Amit Seru, University of Chicago |
| Top Management Human Capital, Inventor Mobility, and Corporate Innovation |
| By Thomas Chemmanur; Boston College Lei Kong; Boston College Karthik Krishnan; Northeastern University Qianqian Yu; Boston College |
| Discussant: Michael Ewens, California Institute of Technology |
| Unleashing Innovation |
| By Yifei Mao; Cornell University Xuan Tian; Indiana University Xiaoyun Yu; Indiana University |
| Discussant: Shai Bernstein, Stanford University |
| Competition and R&D Financing Decisions: Theory and Evidence from the Biopharmaceutical Industry |
| By Richard Thakor; MIT Sloan School of Management Andrew Lo; MIT |
| Discussant: Matthew Rhodes-Kropf, Harvard University |
| Session: Environmental Information and Asset Pricing January 3, 2016 10:15 to 12:15 Marriott Marquis, Nob Hill A & B |
| Session Chair: Augustin Landier, Toulouse |
| SRI Funds: Investor Demand, Exogenous Shocks and ESG Profiles |
| By Jedrzej Bialkowski; University of Canterbury Laura Starks; University of Texas |
| Discussant: Sebastien Pouget, University of Toulouse |
| Do Analysts Curb Corporate Social Irresponsibility? Evidence from Natural Experiments |
| By Hui Dong; Shanghai University of Finance and Economics Lin Chen; University of Hong Kong Xintong Zhan; The Chinese University of Hong Kong |
| Discussant: Leonard Kostovetsky, University of Rochester, Simon School |
| Climate Change and Firm Valuation: Evidence from a Quasi-Natural Experiment |
| By Philipp Krueger; University of Geneva, Swiss Finance Institute |
| Discussant: Kelly Shue, Chicago - Booth |
| Session: Equity Factors January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Stefan Nagel, University of Michigan |
| Leverage Constraints and Asset Prices: Insights from Mutual Fund Risk Taking |
| By Oliver Boguth; Arizona State University Mikhail Simutin; University of Toronto |
| Discussant: Dong Lou, London School of Economics |
| The Level, Slope and Curve Model for Stocks |
| By Charles Clarke; University of Connecticut |
| Discussant: Serhiy Kozak, University of Michigan |
| Lucky Factors |
| By Campbell Harvey; Duke University Yan Liu; Texas A&M University |
| Discussant: Bryan Kelly, University of Chicago |
| Session: Macroprudential Regulation and Financial Crises January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Gregory Feldberg, U.S. Office of Financial Research |
| Beyond Capital Regulation: An Underestimated Risk Source |
| By Frederic Schweikhard; University of Oxford Zoe Tsesmelidakis; University of Oxford |
| Discussant: Mark Flannery, SEC |
| Decision-Making during the Crisis: Did the Treasury let Commercial Banks fail? |
| By Ettore Croci; Università Cattolica del Sacro Cuore di Milano Gerard Hertig; ETH Zurich Eric Nowak; University of Lugano |
| Discussant: Allen Berger, University of South Carolina |
| Does Lack of Financial Stability Impair the Transmission of Monetary Policy? |
| By Viral Acharya; New York University Bjorn Imbierowicz; Goethe University Frankfurt Sascha Steffen; ESMT European School of Management and Technology Daniel Teichmann; Goethe University Frankfurt |
| Discussant: Jamie McAndrews, Federal Reserve Bank of New York |
| Session: Liquidity, Frictions, and Limits to Arbitrage January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Nicolae Garleanu, University of California, Berkeley |
| Government Intervention and Arbitrage |
| By Paolo Pasquariello; University of Michigan |
| Discussant: Dmitry Livdan, Berkeley-Haas |
| Financial Intermediation Chains in a Search Market |
| By Ji Shen; London School of Economics Bin Wei; Federal Reserve Bank of Atlanta Hongjun Yan; Yale University |
| Discussant: Pierre-Olivier Weill, UCLA |
| The Shorting Premium and Asset Pricing Anomalies |
| By Itamar Drechsler; NYU Stern Freda Drechsler; Wharton Research Data Services |
| Discussant: Jianfeng Yu, University of Minnesota |
| Dash for Cash: Month-End Liquidity Needs and the Predictability of Stock Returns |
| By Erkko Etula; Goldman, Sachs & Co. Kalle Rinne; University of Luxembourg Matti Suominen; Aalto University School of Business Lauri Vaittinen; Mandatum Life |
| Discussant: David Sraer, UC Berkeley |
| Session: AFA Panel - Is the Refereeing Process Broken? Perspectives of Top-Journal Editors January 3, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salon 8 |
| Joint Session with the AEA |
| Session Chair: David Hirshleifer, University of California, Irvine |
| Session: Information Processing, Transmission and Trading January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Vyacheslav Fos, University of Illinois at Urbana-Champaign |
| Investor Demand for Information in Newly Issued Securities |
| By Scott Bauguess; Securities and Exchange Commission John Cooney; Texas Tech University Kathleen Hanley; University of Maryland |
| Discussant: Heather Tookes, Yale University |
| Potential Pilot Problems: Treatment Spillovers in Financial Regulatory Experiments |
| By Ekkehart Boehmer; Singapore Management University Charles Jones; Columbia Business School Xiaoyan Zhang; Purdue University |
| Discussant: Chester Spatt, Carnegie Mellon University |
| How Quickly Do Markets Learn? Private Information Dissemination in a Natural Experiment |
| By Robert Jackson; Columbia Law School Wei Jiang; Columbia Business School Joshua Mitts; Columbia Law School |
| Discussant: Peter Koudijs, Stanford |
| Disclosure Timing, Information Asymmetry, and Stock Returns: Evidence from 8-K Filing Texts |
| By Itay Goldstein; University of Pennsylvania Di (Andrew) Wu; University of Pennsylvania |
| Discussant: Lily Fang, MIT Sloan |
| Session: Compensation and Agency January 3, 2016 14:30 to 16:30 Marriott Marquis, Nob Hill A & B |
| Session Chair: Claudia Custodio, Nova School of Business and Economics |
| Wages and Firm Performance: Evidence from the 2008 Financial Crisis |
| By Paige Ouimet; University of North Carolina Elena Simintzi; UBC |
| Discussant: Miguel Ferreira, Nova School of Business and Economics |
| Labor unemployment risk and CEO incentive compensation |
| By Andrew Ellul; Indiana University Cong Wang; Chinese University of Hong Kong Kuo Zhang; Chinese University of Hong Kong |
| Discussant: Carola Frydman, Northwestern University |
| Executive Compensation and Market Valuation of Managerial Attributes |
| By Si Li; Wilfrid Laurier University M. Fabricio Perez; Wilfrid Laurier University |
| Discussant: Charles Hadlock, Michigan State University |
| Product market peers and relative performance evaluation |
| By Sudarshan Jayaraman; Simon Business School Todd Milbourn; Washington University in St. Louis Hojun Seo; Washington University in St. Louis |
| Discussant: Kevin Murphy, University of Southern California |
| Session: Corporate Disclosure and Accounting January 3, 2016 14:30 to 16:30 Marriott Marquis, Nob Hill C & D |
| Session Chair: Michelle Hanlon, MIT |
| Competition and Bank Opacity |
| By Liangliang Jiang; Lingnan University Ross Levine; University of California, Berkeley Chen Lin; University of Hong Kong |
| Discussant: Joao Granja, MIT |
| Financial Constraints and Corporate Disclosure |
| By Rustom Irani; U. of Illinois at Urbana-Champaign David Oesch; University of Zurich |
| Discussant: Terry Shevlin, University of California-Irvine |
| The Informativeness and Monitoring Effect of Analysts’ Comments on Earnings Quality |
| By Zhongwei Huang; Cass Business School - City University London |
| Discussant: Mark T. Bradshaw, Boston College |
| Session: Finance and the Firm's Workforce January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: David Matsa, Northwestern University |
| The Impact of Bank Credit on Labor Reallocation and Aggregate Industry Productivity |
| By Daniel Carvalho; USC Marshall School of Business Gordon Phillips; University of Southern California |
| Discussant: John Haltiwanger, University of Maryland |
| Winners and Losers of Financial Crises: Evidence from Individuals and Firms |
| By Daniela Hochfellner; University of Michigan Joshua Montes; Congressional Budget Office Martin Schmalz; University of Michigan Denis Sosyura; University of Michigan |
| Discussant: Jonathan Parker, MIT |
| “Since you’re so rich, you must be really smart”: Talent and the finance wage premium |
| By Michael Boehm; University of Bonn Daniel Metzger; Stockholm School of Economics Per Stromberg; Stockholm School of Economics |
| Discussant: Thomas Lemieux, University of British Columbia |
| Session: Private Equity January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Victoria Ivashina, Harvard Business School |
| How much for a haircut? Illiquidity, the secondary market, and the value of private equity |
| By Nicolas Bollen; Vanderbilt University Berk Sensoy; The Ohio State University |
| Discussant: Arthur Korteweg, University of Southern California |
| Hierarchical Agency Issues: The Case of Service Agreements in Private Equity |
| By Ludovic Phalippou; University of Oxford Christian Rauch; Johann Wolfgang Goethe-University Marc Umber; Frankfurt School of Finance & Management |
| Discussant: Andrey Malenko, Massachusetts Institute of Technology |
| Interim Fund Performance and Fundraising in Private Equity |
| By Brad Barber; UC Davis Ayako Yasuda; University of California, Davis |
| Discussant: Sabrina Howell, Harvard University |
| How persistent is private equity performance? Evidence from deal-level data |
| By Reiner Braun; Technical University Munich Tim Jenkinson; Oxford University Ingo Stoff; Technical University Munich |
| Discussant: Jules van Binsbergen, University of Pennsylvania |
| Session: Pricing of Variance and Tail Risk in Derivatives Markets January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Bryan Kelly, University of Chicago |
| Where Do Informed Traders Trade First? Option Trading Activity, News Releases, and Stock Return Predictability |
| By Martijn Cremers; University of Notre Dame Andy Fodor; Ohio University David Weinbaum; Syracuse University |
| Discussant: Travis Johnson, University of Texas |
| Pricing of Idiosyncratic Equity and Variance Risks |
| By Elise Gourier; Princeton University |
| Discussant: Kris Jacobs, University of Houston |
| Fear Trading |
| By Paul Schneider; University of Lugano and Swiss Finance Institute Fabio Trojani; University of Lugano |
| Discussant: Stefano Giglio, University of Chicago |
| Session: Firms and Markets January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Gregor Matvos, University of Chicago |
| Detail Disagreement and Innovation Booms |
| By Valentin Haddad; Princeton University Paul Ho; Princeton University Erik Loualiche; MIT Sloan School of Management |
| Discussant: Bruce Carlin, University of California - Los Angeles |
| Collateral-Based Asset Pricing |
| By Roberto Steri; University of Lausanne |
| Discussant: Christian Opp, University of Pennsylvania |
| Brokers vs. Retail Investors: Conflicting Interests and Dominated Products |
| By Mark Egan; University of Minnesota |
| Discussant: Robert McDonald, Northwestern University |
| Session: AFA Panel - Sports, Economics, and Finance January 3, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salon 8 |
| Session Chair: Tobias Moskowitz, University of Chicago |
| Session: Variance and Crash Risk Pricing January 4, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill C & D |
| Session Chair: Itamar Drechsler, NYU Stern |
| Do rare events explain CDX tranche spreads? |
| By Sang Byung Seo; Wharton Jessica Wachter; University of Pennsylvania |
| Discussant: Pierre Collin-Dufresne, Ecole Polytechnique Federale de Lausanne |
| Does Variance Risk Have Two Prices? |
| By Laurent Barras; McGill University Aytek Malkhozov; Bank for International Settlements |
| Discussant: Alan Moreira, Yale University |
| Good Jumps, Bad Jumps, and Conditional Equity Premium |
| By Hui Guo; University of Cincinnati Kent Wang; WISE, XMU Hao Zhou; Tsinghua University |
| Discussant: Amir Yaron, University of Pennsylvania |
| Good and Bad Variance Premium and Expected Returns |
| By Mete Kilic; The Wharton School, University of Pennsylvania Ivan Shaliastovich; University of Pennsylvania |
| Discussant: Juan M. Londono, Federal Reserve Board |
| Session: Security and Market Mechanism Design January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Tomasz Piskorski, Columbia University |
| Benchmarks in Search Markets |
| By Darrell Duffie; Stanford University Piotr Dworczak; Stanford University Haoxiang Zhu; MIT |
| Discussant: Marzena Rostek, University of Wisconsin-Madison |
| Optimal margins and equilibrium prices |
| By Bruno Biais; Université de Toulouse 1 Capitole Florian Heider; European Central Bank Marie Hoerova; Financial Research Division |
| Discussant: William Fuchs, University of California - Berkeley |
| The Causal Impact of Market Fragmentation on Liquidity |
| By Peter Haslag; Olin Business School - Washington University St Louis Matthew Ringgenberg; Washington University in St. Louis |
| Discussant: Emiliano Pagnotta, Imperial College Business School |
| Welfare costs of informed trade |
| By Lawrence Glosten; Columbia Business School Talis Putnins; University of Technology Sydney |
| Discussant: Brett Green, UC Berkeley--Haas School of Business |
| Session: Investment Policy, Risk Taking and Hedging January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Kelly Shue, Chicago - Booth |
| The Real E ffects of Credit Ratings: The Sovereign Ceiling Channel |
| By Heitor Almeida; University of Illinois at Urbana-Champaign Igor Cunha; Nova School of Business and Economics Miguel Ferreira; Nova School of Business and Economics Felipe Restrepo; Ivey Business School, Western University |
| Discussant: Bo Becker, Stockholm School of Economics |
| Owners' portfolio diversification and firm investment: Evidence from public and private firms |
| By Evgeny Lyandres; Boston University Maria-Teresa Marchica; Manchester Business School Roni Michaely; Cornell University Roberto Mura; Manchester Business School |
| Discussant: Gordon Phillips, University of Southern California |
| Does Hedging Affect Firm Value? Evidence from a Natural Experiment |
| By Erik Gilje; The Wharton School Jerome Taillard; Babson College |
| Discussant: Hayong Yun, MSU |
| The Effect of Stock Prices on Investment: The Type of Price Informativeness Matters |
| By Alex Edmans; University of Pennsylvania Sudarshan Jayaraman; Simon Business School |
| Discussant: Marcin Kacperczyk, Imperial College London |
| Session: Culture, Ethics and Finance January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Paola Sapienza, Northwestern University |
| Crime, Punishment and the Halo Effect of Corporate Social Responsibility |
| By Harrison Hong; Princeton University Inessa Liskovich; Princeton University |
| Discussant: Enrichetta Ravina, Columbia Business School |
| Women on Corporate Boards: Good or Bad? |
| By Thomas Schmid; Technische Universität München Daniel Urban; Technische Universität München |
| Discussant: Margarita Tsoutsoura, Booth School, University of Chicago |
| Swimming upstream: Struggling firms in corrupt cities |
| By Christopher Parsons; UCSD Johan Sulaeman; National University of Singapore Sheridan Titman; The University of Texas at Austin |
| Discussant: Brian Melzer, Northwestern University |
| Session: Regulatory Behavior and Design January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Amit Seru, University of Chicago |
| Funding and Incentives of Regulators: Evidence from Banking |
| By Roni Kisin; Washington University in St. Louis Asaf Manela; Washington University in St. Louis |
| Discussant: David Lucca, Federal Reserve Bank of New York |
| The Strategic under-reporting of Bank Risk |
| By Amiyatosh Purnanandam; University of Michigan |
| Discussant: Philipp Schnabl, Stern School of Business, New York Unive |
| Deregulation, Competition and the Race to the Bottom |
| By Marco Di Maggio; Columbia University Amir Kermani; UC Berkeley Sanket Korgaonkar; UC Berkeley |
| Discussant: Sumit Agarwal, National University of Singapore |
| Supervisory Incentives in a Banking Union |
| By Robert Marquez; University of California at Davis Elena Carletti; European University Institute Giovanni Dell'Ariccia; IMF |
| Discussant: Uday Rajan, University of Michigan |
| Session: Limits to Arbitrage January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Dimitris Papanikolaou, Northwestern University |
| Days to Cover and Stock Returns |
| By Harrison Hong; Princeton University Weikai Li; Hong Kong University of Science and Technology Sophie Ni; Hong Kong University of Science and Tech Jose Scheinkman; Columbia UNIVERSITY |
| Discussant: Karl Diether, Dartmouth College |
| Leveraged Speculators and Asset Prices |
| By Wenxi Jiang; Yale University |
| Discussant: Nina Boyarchenko, Federal Reserve Bank of New York |
| A Theory of Operational Risk |
| By Suleyman Basak; London Business School Andrea M. Buffa; Boston University |
| Discussant: Konstantin Milbradt, Northwestern University |
| Session: Behavioral Finance January 4, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Christopher Parsons, UCSD |
| Identity, Overconfidence, and Investment Decisions |
| By Francesco D'Acunto; University of California at Berkeley |
| Discussant: Yuval Rottenstreich, Rady |
| A Natural Experiment in Portfolio Management |
| By Stephan Kranner; WU Vienna University of Ecoomics and Business Neal Stoughton; WU Vienna University of Economics and Business Josef Zechner; WU Vienna University of Economics and Business |
| Discussant: John Beshears, Harvard University |
| The Term Structure of Equity Returns: Risk or Mispricing? |
| By Michael Weber; University of Chicago |
| Discussant: Malcolm Baker, Harvard Business School |
| The Fetal Origins Hypothesis in Finance: Prenatal Environment and Investor Behavior |
| By Henrik Cronqvist; CEIBS Alessandro Previtero; University of Western Ontario Stephan Siegel; University of Washington Roderick White; University of Western Ontario |
| Discussant: Richard Townsend, Dartmouth College |
| Session: Advances in International Finance January 4, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill A & B |
| Session Chair: Matteo Maggiori, Harvard University |
| The Carry Trade and Uncovered Interest Parity when Markets are Incomplete |
| By Jack Favilukis; University of British Columbia Lorenzo Garlappi; UBC |
| Discussant: Stavros Panageas, University of Chicago |
| Currency Risk Factors in a Recursive Multi-Country Economy |
| By Riccardo Colacito; University of North Carolina, Chapel Hil Mariano Croce; University of North Carolina at Chapel H Federico Gavazzoni; INSEAD Robert Ready; University of Rochester |
| Discussant: Nicolas Coeurdacier, SciencesPo |
| Macro Uncertainty and Currency Premia |
| By Pasquale Della Corte; Imperial College London Aleksejs Krecetovs; Imperial College London |
| Discussant: Paolo Cavallino, New York University |
| The Term Structure of Currency Carry Trade Risk Premia |
| By Hanno Lustig; Stanford Graduate School of Business Andreas Stathopoulos; University of Southern California Adrien Verdelhan; MIT Sloan |
| Discussant: Stefano Giglio, University of Chicago |
| Session: Institutional Biases and Asset Prices January 4, 2016 10:15 to 12:15 Marriott Marquis, Nob Hill A & B |
| Session Chair: Alok Kumar, University of Miami |
| Distracted Institutional Investors |
| By Daniel Schmidt; HEC Paris |
| Discussant: Jawad Addoum, University of Miami |
| Risk Spillover and Large Institutional Investors |
| By Itzhak Ben-David; The Ohio State University and NBER Francesco Franzoni; University of Lugano Rabih Moussawi; The Wharton School John Sedunov; Villanova University |
| Discussant: Tarun Ramadorai, University of Oxford |
| Short selling activity and waiting games |
| By Francesco Franzoni; University of Lugano Massimo Massa; INSEAD Carlo sommavilla; University of Lugano |
| Discussant: Russell Jame, University of Kentucky |
| Price pressure from coordinated noise trading: Evidence from pension fund reallocations |
| By Zhi Da; University of Notre Dame Borja Larrain; Pontificia Universidad Catolica de Chile Clemens Sialm; University of Texas at Austin and NBER Jose Tessada; Pontificia Universidad Catolica de Chile |
| Discussant: Richard Sias, University of Arizona |
| Session: Behavioral CEOs January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Geoffrey Tate, University of North Carolina - Chapel Hill |
| Do Managers Overreact to Salient Risks? Evidence from Hurricane Strikes |
| By Olivier Dessaint; Rotman School of Management, University Adrien Matray; Princeton University |
| Discussant: Ran Duchin, University of Washington |
| Corporate Risk Culture |
| By yihui pan; University of Utah Stephan Siegel; University of Washington Tracy Wang; University of Minnesota |
| Discussant: Mara Faccio, Purdue University |
| Do CEO Beliefs Affect Corporate Cash Holdings? |
| By Sanjay Deshmukh; DePaul University Anand Goel; Navigant Keith Howe; DePaul University |
| Discussant: Vikram Nanda, Rutgers Business School |
| Initial Offer Precision and M&A Outcomes |
| By Petri Hukkanen; Aalto University School of Business Matti Keloharju; Aalto University |
| Discussant: Tim Loughran, University of Notre Dame |
| Session: Dimensions of Governance Revisited January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Augustin Landier, Toulouse |
| The Evolution of Corporate Cash |
| By John Graham; Duke University Mark Leary; WashU |
| Discussant: Murillo Campello, Cornell University and NBER |
| Costly External Finance, Regulatory Regime, and the Strategic Timing of Vehicle Recalls |
| By Sudipto Dasgupta; Hong Kong Univ. of Science and Technology Jin Xie; Chinese University of Hong Kong |
| Discussant: Tom Chang, University of Southern California |
| Staggered Boards and Firm Value, Revisited |
| By Martijn Cremers; University of Notre Dame Lubomir Litov; University of Arizona Simone Sepe; University of Arizona |
| Discussant: Dirk Jenter, Stanford University |
| Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class |
| By Manuel Adelino; Duke University's Fuqua School of Business Antoinette Schoar; Massachusetts Institute of Technology Felipe Severino; Dartmouth College |
| Discussant: Nancy Wallace, Univ. of CA Berkeley |
| Session: Information Frictions in Asset Markets January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Laura Veldkamp, NYU Stern |
| Impediments to Financial Trade: Theory and Measurement |
| By Nicolae Garleanu; University of California, Berkeley Stavros Panageas; University of Chicago Jianfeng Yu; University of Minnesota |
| Discussant: Ralph Koijen, London Business School |
| Multi-Asset Noisy Rational Expectations Equilibrium with Contingent Claims |
| By Georgy Chabakauri; London School of Economics Kathy Yuan; LSE Konstantinos E. Zachariadis; London School of Economics |
| Discussant: Bradyn Breon-Drish, Stanford Graduate School of Business |
| Information Asymmetries, Volatility, Liquidity, and the Tobin Tax |
| By Christian Julliard; London School of Economics Albina Danilova; LSE |
| Discussant: Pietro Veronesi, University of Chicago |
| Good Disclosure, Bad Disclosure |
| By Itay Goldstein; University of Pennsylvania Liyan Yang; Joseph L. Rotman School of Management |
| Discussant: Pablo Kurlat, Stanford University |
| Session: Financial System Stability January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Samuel Hanson, Harvard Business School |
| Measuring Liquidity Mismatch in the Banking Sector |
| By Jennie Bai; Georgetown University Arvind Krishnamurthy; Stanford University Charles-Henry Weymuller; Treasury of France |
| Discussant: Samuel Hanson, Harvard Business School |
| Risk Management Failures |
| By Matthieu Bouvard; McGill University, Desautels Faculty Samuel Lee; Santa Clara University |
| Discussant: Konstantin Milbradt, Northwestern University |
| The Stability of Money Market Mutual Funds: The Effect of the 2010 Amendments to Rule 2A-7 |
| By Emily Gallagher; Sorbonne - Paris School of Economics Lawrence Schmidt; University of California, San Diego Allan Timmermann; UCSD Russ Wermers; University of Maryland |
| Discussant: Antoine Martin, Federal Reserve Bank of New York |
| Countercyclical Bank Equity Issuance |
| By Matthew Baron; Cornell University |
| Discussant: Adi Sunderam, Harvard Business School |
| Session: Financial markets and government interactions January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Francisco Perez-Gonzalez, Stanford University |
| Corporate Governance and the Creation of the SEC |
| By Arevik Avedian; Harvard Law School Henrik Cronqvist; CEIBS Marc Weidenmier; Claremont McKenna College |
| Discussant: Benjamin Hermalin, University of California, Berkeley |
| SHO time for innovation: The real effects of short sellers |
| By Jie He; University of Georgia Xuan Tian; Indiana University |
| Discussant: Sebastien Michenaud, Rice University |
| The Economic Effects of Public Financing: Evidence from Municipal Bond Ratings Recalibration |
| By Manuel Adelino; Duke University's Fuqua School of Business Igor Cunha; Nova School of Business and Economics Miguel Ferreira; Nova School of Business and Economics |
| Discussant: Gabriel chodorow-reich, Harvard University |
| Session: Fund Managers January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Peter Kondor, Central European University |
| Investing in Low-Trust Countries: Trust in the Global Mutual Fund Industry |
| By Massimo Massa; INSEAD Chengwei Wang; INSEAD Hong Zhang; PBC School of Finance Jian Zhang; National U of Singapore |
| Discussant: Dong Lou, London School of Economics |
| Do funds make more when they trade more? |
| By Lubos Pastor; Univ of Chicago Robert Stambaugh; UNIVERSITY OF PENNSYLVANIA Lucian Taylor; University of Pennsylvania |
| Discussant: Clemens Sialm, University of Texas at Austin and NBER |
| Matching Capital and Labor |
| By Jonathan Berk; Graduate School of Business Jules van Binsbergen; University of Pennsylvania Binying Liu; Northwestern University |
| Discussant: Michael Ewens, California Institute of Technology |
| The Unintended Consequences of the Zero Lower Bound Policy |
| By Marco Di Maggio; Columbia University Marcin Kacperczyk; Imperial College London |
| Discussant: Philip Strahan, Boston College |
| Session: AFA Panel - Cryptocurrencies, Blockchains and the Future of Financial Services January 4, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salon 8 |
| Session Chair: David Yermack, New York University |
| Session: The Cross-section of Expected Returns January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Ralph Koijen, London Business School |
| Spurious Factors in Linear Asset Pricing Models |
| By Svetlana Bryzgalova; London School of Economics |
| Discussant: Motohiro Yogo, Federal Reserve Bank of Minneapolis |
| Risky Value |
| By Atif Ellahie; London Business School Michael Katz; AQR Capital Management LLC Scott Richardson; London Business School |
| Discussant: Stijn Van Nieuwerburgh, NYU Stern School of Business |
| Monetary Policy Surprises, Investment Opportunities, and Asset Prices |
| By Andrew Detzel; University of Denver, Daniels College of Business |
| Discussant: Anna Cieslak, Northwestern University |
| Session: Pricing of Macroeconomic Risk January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Lars Kuehn, Carnegie Mellon University |
| The Dividend Term Structure |
| By Jac Kragt; Tilburg University Frank de Jong; Tilburg University Joost Driessen; Tilburg University - TiSEM |
| Discussant: Adlai Fisher, University of British Columbia |
| The Price of Variance Risk |
| By Ian Dew-Becker; Northwestern University Stefano Giglio; University of Chicago Anh Le; University of North Carolina Chapel Hill Marius Rodriguez; Board of Governors of the Federal Reserve |
| Discussant: Jessica Wachter, University of Pennsylvania |
| Horizon-specific macroeconomic risks and the cross-section of expected returns |
| By Martijn Boons; Nova School of Business and Economics Andrea Tamoni; London School of Economics |
| Discussant: Hanno Lustig, Stanford Graduate School of Business |
| Identifying Long-Run Risks: A Bayesian Mixed-Frequency Approach |
| By Frank Schorfheide; University of Pennsylvania Dongho Song; Boston College Amir Yaron; University of Pennsylvania |
| Discussant: Lars Lochstoer, Columbia University |
| Session: Governance Threats, Consequences and Countermeasures January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Renee Adams, University of New South Wales |
| Do Director Elections Matter? |
| By Vyacheslav Fos; University of Illinois at Urbana-Champaign Kai Li; UBC Margarita Tsoutsoura; Booth School, University of Chicago |
| Discussant: Daniel Ferreira, London School of Economics |
| The Threat of Shareholder Intervention and Firm Innovation |
| By Jin Qi; University of Minnesota |
| Discussant: Gustavo Manso, Berkeley-Haas |
| Corporate Governance and the Firm's Workforce |
| By Inessa Liskovich; Princeton University |
| Discussant: Paola Sapienza, Northwestern University |
| Do takeover defenses deter takeovers? |
| By Jonathan Karpoff; University of Washington Robert Schonlau; Brigham Young University Eric Wehrly; Seattle University |
| Discussant: Bernard Black, Northwestern University |
| Session: The Market for Corporate Control January 4, 2016 14:30 to 16:30 Marriott Marquis, Nob Hill A & B |
| Session Chair: Kai Li, UBC |
| Are stock-financed takeovers opportunistic? |
| By B. Espen Eckbo; Dartmouth College Tanakorn Makaew; University of South Carolina Karin Thorburn; Norwegian School of Economics |
| Discussant: Micah Officer, Loyola Marymount University |
| The Human Factor in Acquisitions |
| By Geoffrey Tate; University of North Carolina - Chapel Hill Liu Yang; University of Maryland |
| Discussant: Elena Simintzi, UBC |
| The Decreasing Returns of Serial Acquirers around the World |
| By Andrew Karolyi; Cornell University Rose Liao; Rutgers University Gilberto Loureiro; University of Minho |
| Discussant: Raghavendra Rau, University of Cambridge |
| Extending Industry Specialization and Intangibles Through Cross-Border Acquisitions |
| By Laurent Fresard; University of Maryland Ulrich Hege; HEC Paris Gordon Phillips; University of Southern California |
| Discussant: Pedro Matos, University of Virginia |
| Session: Intermediation and Raising Capital January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Shai Bernstein, Stanford University |
| Bad times, good credit |
| By Bo Becker; Stockholm School of Economics Marieke Bos; Stockholm University Kasper Roszbach; Sveriges Riksbank |
| Discussant: Richard Townsend, Dartmouth College |
| Who Benefits from Bond Market Modernization? |
| By David Musto; University of Pennsylvania Jillian Popadak; Duke University |
| Discussant: Victoria Ivashina, Harvard Business School |
| Underwriter Networks in Initial Public Offerings |
| By Emanuele Bajo; University of Bologna Thomas Chemmanur; Boston College Karen Simonyan; Suffolk University Hassan Tehranian; Boston College |
| Discussant: Yael Hochberg, MIT Sloan School of Management |
| Who Finances Durable Goods and Why it Matters: Captive Finance and the Coase Conjecture |
| By Justin Murfin; Yale University Ryan Pratt; Brigham Young University |
| Discussant: Jean-Noel Barrot, MIT Sloan School of Management |
| Session: Social Media and Textual Analysis in Finance January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chairs: |
| 1. Paul Tetlock, Columbia Business School |
| 2. Lily Fang, MIT Sloan |
| The Power of the Street: Evidence from Egypt's Arab Spring |
| By Daron Acemoglu; Massachusetts Institute of Technology Tarek Hassan; The University of Chicago Ahmed Tahoun; London Business School |
| Discussant: Justin Wolfers, University of Michigan |
| Deciphering Fedspeak: The Information Content of FOMC Meetings |
| By Narasimhan Jegadeesh; Emory University Di (Andrew) Wu; University of Pennsylvania |
| Discussant: David Lucca, Federal Reserve Bank of New York |
| Information Discovery by Analysts |
| By Naveen Daniel; Drexel University Lalitha Naveen; Temple University |
| Discussant: Eugene Soltes, Harvard Business School |
| The Value of Crowdsourcing: Evidence from Earnings Forecasts |
| By Barbara Bliss; University of San Diego Biljana Nikolic; University of San Diego |
| Discussant: Joseph Engelberg, UCSD, Rady School of Management |
| Session: Euro-area Bank Liquidity January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Luc Laeven, ECB |
| Cross-Border Liquidity, Relationships and Monetary Policy: Evidence from the Euro Area Interbank Crisis |
| By Puriya Abbassi; Deutsche Bundesbank Falk Brauning; VU University Amsterdam Falko Fecht; Frankfurt School of Finance Jose-Luis Peydro; Universitat Pompeu Fabra |
| Discussant: Philipp Schnabl, NYU Stern |
| Central Bank Interventions, Demand for Collateral, and Sovereign Borrowing Costs |
| By Matteo Crosignani; NYU Stern Miguel de Faria e Castro; NYU Luis Fonseca; Bank of Portugal |
| Discussant: Jeremy Stein, Harvard University |
| The Euro Interbank Repo Market |
| By Loriano Mancini; Swiss Finance Institute at EPFL Angelo Ranaldo; University of St. Gallen Jan Wrampelmeyer; University of St. Gallen |
| Discussant: Florian Heider, European Central Bank |
| Session: AFA Lecture - Neuroscience and Finance January 4, 2016 14:30 to 16:30 Marriott Marquis, Yerba Buena Salon 8 |
| Session Chair: Colin Camerer, California Institute of Technology |
| Session: Uncovering Alpha: Informed Traders across the World January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Lauren Cohen, Harvard Business School |
| Sparse Signals in the Cross-Section of Returns |
| By Alexander Chinco; University of Illinois at Urbana-Champaign Adam Clark-Joseph; University of Illinois Mao Ye; University of Illinois, Urbana-Champaign |
| Discussant: Bryan Kelly, University of Chicago |
| Home Bias Abroad: Domestic Industries and Foreign Portfolio Choice |
| By David Schumacher; Desautels Faculty of Management, McGill |
| Discussant: Huaizhi Chen, London School of Economics |
| Selection Bias and Investor Inattention on Friday |
| By Roni Michaely; Cornell University Amir Rubin; Simon Fraser University Alexander Vedrashko; Simon Fraser University |
| Discussant: Stefano DellaVigna, University of California at Berkeley |
| Longs, Shorts, and the Cross-Section of Stock Returns |
| By Mahdi Nezafat; Michigan State University Tao Shen; Tsinghua University Qinghai Wang; University of Wisconsin-Milwaukee Juan (Julie) Wu; University Of Georgia |
| Discussant: Karl Diether, Dartmouth College |
| Session: Hedge Funds January 5, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill A & B |
| Session Chair: Robert Kosowski, Imperial College Business School |
| The Capacity of Trading Strategies |
| By Augustin Landier; Toulouse David Thesmar; HEC and CEPR |
| Discussant: Lasse Pedersen, Copenhagen Business School and New York |
| The role of hedge funds in the security price formation process |
| By Charles Cao; Penn State University Yong Chen; Texas A&M University William Goetzmann; Yale University Bing Liang; UMass Amherst |
| Discussant: David McLean, University of Alberta |
| Arbitrage trading: the long and the short of it |
| By Yong Chen; Texas A&M University Zhi Da; University of Notre Dame Dayong Huang; UNCG |
| Discussant: Byoung-Hyoun Hwang, Cornell University |
| Volatility of Aggregate Volatility and Hedge Fund Returns |
| By Vikas Agarwal; Georgia State University Yakup Arisoy; Université Paris Dauphine Narayan Y Naik; London Business School |
| Discussant: Gurdip Bakshi, University of Maryland - College Park |
| Session: Behavioral Finance: Investor Behavior and Asset Prices January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Cary Frydman, Marshall School of Business, Unviersity |
| The Effects of Experience on Investor Behavior: Evidence from India's IPO Lotteries |
| By Santosh Anagol; Wharton Vimal Balasubramaniam; University of Oxford Tarun Ramadorai; University of Oxford |
| Discussant: Ulrike Malmendier, UC Berkeley |
| Asset Pricing with Horizon-Dependent Risk Aversion |
| By Marianne Andries; Toulouse School of Economics Thomas Eisenbach; Federal Reserve Bank of New York Martin Schmalz; University of Michigan |
| Discussant: Nikolai Roussanov, University of Pennsylvania |
| Pre-Earnings Announcement Over-extrapolation |
| By Aytekin Ertan; London Business School Stephen Karolyi; Carnegie Mellon University Peter Kelly; University of Notre Dame Robert Stoumbos; Yale University |
| Discussant: Robin Greenwood, Harvard Business School |
| Session: Networks and Local Knowledge January 5, 2016 8:00 to 10:00 Marriott Marquis, Nob Hill C & D |
| Session Chair: Johan Walden, University of California at Berkeley |
| Network Centrality and Pension Fund Performance |
| By David Blake; Pensions Insitute Alberto Rossi; University of Maryland - College Park Allan Timmermann; UCSD Ian Tonks; University of Bath Russ Wermers; University of Maryland |
| Discussant: Ankur Pareek, Rutgers Business School |
| The Risk Sharing Benefit versus the Collateral Cost: The Formation of the Inter-Dealer Network in Over-the-Counter Trading |
| By Zhuo Zhong; University of Melbourne |
| Discussant: Peter Kondor, Central European University |
| Social Network, Herding and Competition |
| By Henry Cao; Cheung Kong Graduate School of Business Dongyan Ye; Cheung Kong Graduate School of Business |
| Discussant: Paolo Colla, Bocconi University |
| Local Information Advantage, Investor Attention and Stock Returns |
| By yuqin huang; Central University of Finance and Economics Tong Li; Peking University |
| Discussant: Mehmet Yavuz, Purdue University |
| Session: Bankruptcy and Distress January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Nittai Bergman, MIT Sloan |
| Debtor Protection, Credit Redistribution, and Income Inequality |
| By Hamid Boustanifar; BI Norwegian Business School Geraldo Cerqueiro; Universidade Católica Portuguesa Maria Penas; Tilburg University |
| Discussant: Felipe Severino, Dartmouth College |
| Cashing out: The Rise of M&A in Bankruptcy |
| By Stuart Gilson; Harvard Business School Edie Hotchkiss; Boston College Matthew Osborn; Boston College |
| Discussant: Yaniv Grinstein, Cornell University and IDC Hertzliya |
| The Disappearance of Public Firms and the Changing Nature of U.S. Industries |
| By Gustavo Grullon; Rice University Yelena Larkin; Penn State University Roni Michaely; Cornell University |
| Discussant: Rajkamal Iyer, MIT |
| Session: Banks, Downturns, and Disasters January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Philipp Schnabl, NYU Stern |
| Pledgeability, Industry Liquidity , and Financing Cycles |
| By Douglas Diamond; University of Chicago Yunzhi Hu; University of Chicago Raghuram Rajan; University of Chicago Booth School of Business and RBI |
| Discussant: Adriano Rampini, Duke University |
| Forced Asset Sales and the Concentration of Outstanding Debt: Evidence from the Mortgage Market |
| By Giovanni Favara; Federal Reserve Board Mariassunta Giannetti; Stockholm School of Economics |
| Discussant: Amir Kermani, UC Berkeley |
| Aggregate Implications of Corporate Debt Choices |
| By Nicolas Crouzet; Northwestern University |
| Discussant: Pablo Kurlat, Stanford University |
| Tracing Out Capital Flows: How Financially Integrated Banks Respond to Natural Disasters |
| By Kristle Cortes; Federal Reserve Bank of Cleveland Philip Strahan; Boston College |
| Discussant: Andres Liberman, New York University Stern School of Business |
| Session: Corporate Control - Governance January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Alex Edmans, London Business School |
| Do Long-Term Investors Improve Corporate Decision Making? |
| By Jarrad Harford; University of Washington Ambrus Kecskes; Schulich School of Business at York University Sattar Mansi; Virginia Tech |
| Discussant: David Denis, Pittsburgh University |
| Wolf Pack Activism |
| By Alon Brav; Duke University Amil Dasgupta; London School of Economics Richmond Mathews; University of Maryland |
| Discussant: Andrew Winton, University of Minnesota |
| Donor Governance and Financial Management in Prominent U.S. Art Museums |
| By David Yermack; NYU Stern School of Business |
| Discussant: Raymond Fisman, Columbia University |
| Board Groupthink |
| By Jeffrey Coles; University of Utah Naveen Daniel; Drexel University Lalitha Naveen; Temple University |
| Discussant: Amy Dittmar, University of Michigan |
| Session: Competition, Contracting Frictions, and Commodity Markets: Implications for Asset Prices January 5, 2016 8:00 to 10:00 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Frederico Belo, University of Minnesota and NBER |
| Import Competition and the Cost of Capital |
| By Jean-Noel Barrot; MIT Sloan School of Management Erik Loualiche; MIT Sloan School of Management julien sauvagnat; ENSAE-CREST |
| Discussant: M. Cecilia Bustamante, University of Maryland |
| Competition, Markups and Predictable Returns |
| By Alexandre Corhay; University of British Columbia, Sauder School of Business Howard Kung; London Business School Lukas Schmid; Duke University |
| Discussant: Francisco Palomino, University of Michigan |
| Carlstrom and Fuerst meets Epstein and Zin: The Asset Pricing Implications of Contracting Frictions |
| By Joao Gomes; University of Pennsylvania Ram Yamarthy; University of Pennsylvania Amir Yaron; University of Pennsylvania |
| Discussant: Hengjie Ai, University of Minnesota |
| Oil Consumption, Economic Growth, and Oil Futures: A Fundamental Alternative to Financialization |
| By Robert Ready; University of Rochester |
| Discussant: Lars Lochstoer, Columbia University |
| Session: Information and Noise January 5, 2016 10:15 to 12:15 Marriott Marquis, Nob Hill A & B |
| Session Chair: Snehal Banerjee, University of California-San Diego |
| Learning in Crowded Markets |
| By Peter Kondor; Central European University Adam Zawadowski; Boston University |
| Discussant: Ming Yang, Duke University |
| Noise Traders Incarnate: Describing a Realistic Noise Trading Process |
| By Joel Peress; INSEAD Daniel Schmidt; HEC Paris |
| Discussant: Timothy Johnson, University of Illinois, Urbana-Champaign |
| What does the PIN model identify as private information? |
| By Jefferson Duarte; Rice University Edwin Hu; Rice University Lance Young; Foster School of Business |
| Discussant: Terrence Hendershott, University of California Berkeley |
| Risk and Return in Segmented Markets with Expertise |
| By Andrea Eisfeldt; UCLA Anderson School of Management |
| Discussant: Vincent Glode, Wharton School |
| Session: Dividends, Repurchases and Payout Policy January 5, 2016 10:15 to 12:15 Marriott Marquis, Pacific A |
| Joint Session with the Association of Financial Economists |
| Session Chair: Kose John, New York University |
| Labor unions and payout policy: A regression discontinuity analysis |
| By Jie He; University of Georgia Xuan Tian; Indiana University Huan Yang; University of Georgia |
| Discussant: David Matsa, Northwestern University |
| Bank Payout Policy, Performance, and Insider Trading in the Financial Crisis of 2007-2009 |
| By Peter Cziraki; University of Toronto Christian Laux; WU (Vienna University of Economics and Business) Gyongyi Loranth; University of Vienna |
| Discussant: Philipp Schnabl, NYU Stern |
| Share Pledges and Margin Call Pressure |
| By Konan Chan; National Chengchi University Hung-Kun Chen; Tamkang University Shing-yang Hu; National Taiwan University Yu-Jane Liu; Guanghua School of Management,Peking Uni |
| Discussant: Jason Wei, AIG |
| Commitment and Financial Flexibility in Payout Decisions: Evidence from Rule 10b5-1 Preset Repurchase Plans |
| By Alice Bonaime; University of Kentucky Jarrad Harford; University of Washington David Moore; University of Kentucky |
| Discussant: Lalitha Naveen, Temple University |
| Session: Mutual Funds and Delegated Management January 5, 2016 10:15 to 12:15 Marriott Marquis, Nob Hill C & D |
| Session Chair: Juhani Linnainmaa, University of Chicago Booth School of Bu |
| WSJ Category Kings - the impact of media attention on consumer and mutual fund investment decisions |
| By Ron Kaniel; University of Rochester Robert Parham; University of Rochester |
| Discussant: Clemens Sialm, University of Texas at Austin and NBER |
| Playing favorites: Conflicts of interest in mutual fund management |
| By Diane Del Guercio; Lundquist College of Business, Universit |
| Discussant: Lu Zheng, University of California - Irvine |
| Double Adjusted Mutual Fund Performance |
| By Jeffrey Busse; Goizueta Business School, Emory University Lei Jiang; Tsinghua University Yuehua Tang; Singapore Management University |
| Discussant: Kent Daniel, Columbia University |
| Is it Who You Know or What You Know? Evidence from IPO Allocations and Mutual Fund Performance |
| By Chuan Yang Hwang; Nanyang Technological University Sheridan Titman; The University of Texas at Austin Yuxi Wang; Nanyang Technological University |
| Discussant: Lauren Cohen, Harvard Business School |
| Session: Credit Risk January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Hui Chen, Massachusetts Institute of Technology |
| Counterparty Risk and Counterparty Choice in the Credit Default Swap Market |
| By Wenxin Du; Board of Governors of the Federal Reserv Salil Gadgil; Federal Reserve Board of Governors Michael Gordy; Federal Reserve Board Clara Vega; Federal Reserve Board |
| Discussant: Francis Longstaff, UCLA |
| Safe-Haven CDS Premia |
| By Sven Klingler; Copenhagen Business School David Lando; Copenhagen Business School |
| Discussant: Nicolae Garleanu, University of California, Berkeley |
| Do Dollar-Denominated Emerging Market Corporate Bonds Insure Foreign Exchange Risk? |
| By Stefanos Delikouras; University of Miami Robert Dittmar; University of Michigan Haitao Li; CKGSB |
| Discussant: Antje Berndt, NC State University |
| Bank Risk Dynamics and Distance to Default |
| By Stefan Nagel; University of Michigan Amiyatosh Purnanandam; University of Michigan |
| Discussant: George Pennacchi, University of Illinois |
| Session: Dynamic Corporate Finance January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| Session Chair: Lucian Taylor, University of Pennsylvania |
| Natural Experiment Policy Evaluation: A Critique |
| By Christopher Hennessy; London Business School |
| Discussant: Antoinette Schoar, Massachusetts Institute of Technology |
| The Real Effects of Credit Default Swaps |
| By Andras Danis; Georgia Institute of Technology Andrea Gamba; University of Warwick |
| Discussant: Gregor Matvos, University of Chicago |
| Firm Financing over the Business Cycle |
| By Juliane Begenau; Harvard Business School Juliana Salomao; University of Minnesota |
| Discussant: Lukas Schmid, Duke University |
| Career Concerns and Corporate Finance |
| By Patrick Bolton; COLUMBIA UNIVERSITY Neng Wang; Columbia Business School Jinqiang Yang; §School of Finance, Shanghai University of Finance and Economics |
| Discussant: Bengt Holmstrom, MIT |
| Session: Entrepreneurial Finance and Crowdfunding January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Yael Hochberg, MIT Sloan School of Management |
| Inside Rounds, Down Rounds and VC Returns |
| By Michael Ewens; California Institute of Technology Matthew Rhodes-Kropf; Harvard University Ilya Strebulaev; Stanford University |
| Discussant: David Robinson, Duke University |
| Financial Disintermediation and Entrepreneurial Learning: Evidence from the Crowdfunding Market |
| By Ting Xu; University of British Columbia |
| Discussant: Shai Bernstein, Stanford University |
| Gender Dynamics in Crowdfunding (Kickstarter): Evidence on Entrepreneurs, Investors, Deals and Taste Based Discrimination |
| By Dan Marom; Hebrew University Alicia Robb; Kauffman Foundation, Kansas City, MO & University of California, Berkeley Orly Sade; Hebrew University of Jerusalem |
| Discussant: Ramana Nanda, Harvard University |
| Session: Governments and Stock Prices January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Jules van Binsbergen, University of Pennsylvania |
| Stock Returns over the FOMC Cycle |
| By Anna Cieslak; Northwestern University Adair Morse; University of California at Berkeley Annette Vissing-Jorgensen; University of California at Berkeley |
| Discussant: David Lucca, Federal Reserve Bank of New York |
| Stock Picking Skills of SEC Employees |
| By Shivaram Rajgopal; Emory University, Gpizueta Business Scho Roger White; Emory University |
| Discussant: Chester Spatt, Carnegie Mellon University |
| Does the Ownership Structure of Government Debt Matter? Evidence from Munis |
| By Tania Babina; University of North Carolina at Chapel Hill Pab Jotikasthira; University of North Carolina Chapel Hill Christian Lundblad; University of North Carolina Tarun Ramadorai; University of Oxford |
| Discussant: Lorenz Kueng, Northwestern University |
| Session: Financial Advisors and Financial Advice January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: John Beshears, Harvard University |
| Loan Product Steering in Mortgage Markets |
| By Sumit Agarwal; National University of Singapore Gene Amromin; Federal Reserve Bank of Chicago Itzhak Ben-David; The Ohio State University and NBER Douglas Evanoff; Federal Reserve Bank of Chicago |
| Discussant: Benjamin Keys, University of Chicago |
| Financial Advice and Bank Profits |
| By Daniel Hoechle; Zurich University of Applied Sciences Stefan Ruenzi; University of Mannheim Nic Schaub; University of St. Gallen Markus Schmid; University of St. Gallen |
| Discussant: John Chalmers, University of Oregon |
| Is Fraud Contagious? Career Networks and Fraud by Financial Advisors |
| By Stephen Dimmock; Nanyang Technological University William Gerken; University of Kentucky Nathaniel Graham; University of Kentucky |
| Discussant: Tracy Wang, University of Minnesota |
| Information Architecture and Intertemporal Choice: A Randomized Field Experiment in the United States |
| By Yaron Levi; UCLA |
| Discussant: Gopi Goda, Stanford University |
| Session: Capital Structure and Cash Holdings January 5, 2016 10:15 to 12:15 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Konstantin Milbradt, Northwestern University |
| Liquidity, Innovation, and Endogenous Growth |
| By Semyon Malamud; Ecole Polytechnique Federale de Lausanne Francesca Zucchi; Federal Reserve Board |
| Discussant: Zhiguo He, University of Chicago, Booth School of B |
| A dynamic model of optimal creditor dispersion |
| By Hongda Zhong; University of Minnesota |
| Discussant: Haoxiang Zhu, MIT |
| Non-Precautionary Cash Hoarding and Investment in Growth Firms |
| By arnoud boot; faculty of economics and business Vladimir Vladimirov; University of Amsterdam |
| Discussant: Barney Hartman-Glaser, UCLA |
| Session: Bond Markets January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 1 & 2 |
| Session Chair: Pierre Collin-Dufresne, Ecole Polytechnique Federale de Lausanne |
| Advance Refundings of Municipal Bonds |
| By Andrew Ang; Columbia University Richard Green; Carnegie Mellon University Yuhang Xing; Rice University |
| Discussant: Francis Longstaff, UCLA |
| Dealer Inventory and the Cross-Section of Corporate Bond Returns |
| By Nils Friewald; Norwegian School of Economics Florian Nagler; VGSF (Vienna Graduate School of Finance) |
| Discussant: Jens Dick-Nielsen, Copenhagen Business School |
| Transmission of Quantitative Easing: The Role of Central Bank Reserves |
| By Jens Christensen; Federal Reserve Bank of San Francisco Signe Krogstrup; Swiss National Bank |
| Discussant: Greg Duffee, Johns Hopkins University |
| Jumps in Bond Yields at Known Times |
| By Don Kim; Board of Governors of the Federal Reserve System Jonathan Wright; Johns Hopkins University |
| Discussant: Mikhail Chernov, UCLA |
| Session: Special Topics: Real Estate January 5, 2016 13:00 to 15:00 Parc 55, Powell II |
| Joint Session with the American Real Estate & Urban Economic Association |
| Session Chair: Sheridan Titman, The University of Texas at Austin |
| Default Option Exercise over the Financial Crisis and Beyond |
| By Xudong An; San Diego State University Yongheng Deng; National University of Singapore Stuart Gabriel; UCLA Anderson School of Management |
| Discussant: Timothy Riddiough, University of Wisconsin |
| When Real Estate is the Only Game in Town |
| By Hyun-Soo Choi; Singapore Management University Harrison Hong; Princeton University Jeffrey Kubik; Syracuse University Jeffrey Thompson; Federal Reserve Board |
| Discussant: Christopher Parsons, UCSD |
| Understanding Mortgage Spreads |
| By Nina Boyarchenko; Federal Reserve Bank of New York Andreas Fuster; Federal Reserve Bank of New York David Lucca; Federal Reserve Bank of New York |
| Discussant: Amit Seru, University of Chicago |
| Understanding Housing Market Spillovers: Migration, Sentiment and Information Acquisition |
| By Cristian Badarinza; Said Business School |
| Discussant: Chester Spatt, Carnegie Mellon University |
| Session: Commodities January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 3 & 4 |
| Session Chair: Lars Lochstoer, Columbia University |
| Commodity Financialization: Risk Sharing and Price Discovery in Commodity Futures Markets |
| By Itay Goldstein; University of Pennsylvania Liyan Yang; Joseph L. Rotman School of Management |
| Discussant: Anna Pavlova, London Business School |
| Fracking, Drilling, and Asset Pricing: Estimating the Economic Benefits of the Shale Revolution |
| By Erik Gilje; The Wharton School Robert Ready; University of Rochester Nikolai Roussanov; University of Pennsylvania |
| Discussant: Ing-Haw Cheng, Dartmouth College |
| Heterogeneous Beliefs and the Oil State Price Density |
| By Peter Christoffersen; University of Toronto Xuhui (Nick) Pan; Tulane University |
| Discussant: Anders Trolle, EPFL and Swiss Finance Institute |
| Commodities as Collateral |
| By Ke Tang; Tsinghua University Haoxiang Zhu; MIT |
| Discussant: Bryan Routledge, Carnegie Mellon University |
| Session: International Risk Sharing and Capital Flows January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 14 & 15 |
| Session Chair: Tarun Ramadorai, University of Oxford |
| Risk sharing in international economies and market incompleteness |
| By Gurdip Bakshi; University of Maryland - College Park Mario Cerrato; University of Glasgow John Crosby; University of Glasgow |
| Discussant: Ilaria Piatti, University of Oxford |
| Limited Risk Sharing and International Equity Returns |
| By Shaojun Zhang; Hong Kong U |
| Discussant: Rui Albuquerque, Boston University |
| Is equity home bias different from foreign bias? |
| By Ian Cooper; London Business School Piet Sercu; KU Leuven Rosanne Vanpée; KU Leuven |
| Discussant: Ingrid Werner, Ohio State University |
| What Determines Portfolio Allocation Decisions of Emerging Market Investors? |
| By Eswar Prasad; Cornell University Andrew Karolyi; Cornell University David Ng; Cornell University |
| Discussant: Pab Jotikasthira, University of North Carolina Chapel Hill |
| Session: Transparency, Corporate Governance, and Firm Value January 5, 2016 13:00 to 15:00 Marriott Marquis, Nob Hill C & D |
| Session Chair: Margarita Tsoutsoura, University Of Chicago |
| Tax Enforcement, Corporate Governance, and Income Diversion: Evidence after Putin’s election in 2000 |
| By Juan-Pedro Gomez; IE Business School Maxim Mironov; IE Business School |
| Discussant: I. J. Alexander Dyck, Rotman School of Management, University |
| Managers in Heaven: Tax Haven Activities and Shareholder Value |
| By Morten Bennedsen; INSEAD Stefan Zeume; University of Michigan |
| Discussant: Michelle Hanlon, MIT |
| Are Foreign Investors Locusts? The Long-Term Effects of Foreign Institutional Ownership |
| By Jan Bena; University of British Columbia Miguel Ferreira; Nova School of Business and Economics Pedro Matos; University of Virginia Pedro Pires; Nova School of Business and Economics |
| Discussant: Olga Kuzmina, New Economic School |
| Session: Empirical Studies of Banking January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 10 & 11 |
| Session Chair: Philip Strahan, Boston College |
| Credit Default Swaps and Moral Hazard in Bank Lending |
| By Indraneel Chakraborty; Southern Methodist University Sudheer Chava; Georgia Institute of Technology Rohan Ganduri; Georgia Institute of Technology |
| Discussant: Greg Nini, Drexel University |
| Got rejected? Real effects of not getting a loan |
| By Tobias Berg; Bonn University |
| Discussant: Heitor Almeida, University of Illinois at Urbana-Champaign |
| Banking liberalization and diversification benefits |
| By Reint Gropp; IWH Felix Noth; University of Magdeburg Ulrich Schüwer; Goethe University Frankfurt |
| Discussant: Matthieu Chavaz, Bank of England |
| Session: Illiquidity in Financial Markets: Information, Taxes and Temperature January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 12 & 13 |
| Session Chair: Brett Green, UC Berkeley--Haas School of Business |
| The Paradox of Financial Fire Sales and the Role of Arbitrage Capital |
| By James Dow; lbs Jungsuk Han; Stockholm School of Economics |
| Discussant: Brendan Daley, Duke University |
| Asymmetric Information and Liquidity Provision |
| By Alberto Teguia; Rice University |
| Discussant: S. Viswanathan, Fuqua School of Business |
| Financial Transaction Taxes, Market Composition, and Liquidity |
| By Jean-Edouard Colliard; HEC Paris Peter Hoffmann; European Central Bank |
| Discussant: David Sraer, UC Berkeley |
| Temperature, Volume, and Return Reversal in the 19th Century Stock Market |
| By Thummim Cho; Harvard University |
| Discussant: Peter Koudijs, Stanford |
| Session: Shareholder Activism and the Market for Corporate Control January 5, 2016 13:00 to 15:00 Marriott Marquis, Nob Hill A & B |
| Session Chair: Doron Levit, University of Pennsylvania |
| Can Institutional Investors Improve Corporate Governance Through Collective Action? |
| By Craig Doidge; University of Toronto I. J. Alexander Dyck; Rotman School of Management, University Hamed Mahmudi; University of Oklahoma Aazam Virani; University of Arizona |
| Discussant: Laura Starks, University of Texas at Austin |
| Influencing Control: Jawboning in Risk Arbitrage |
| By Wei Jiang; Columbia Business School Tao Li; Warwick Business School Danqing Mei; Columbia University |
| Discussant: Nickolay Gantchev, University of North Carolina Chapel Hill |
| Activist Investors as Brokers of Corporate Control |
| By Mike Burkart; Stockholm School of Economics & Swedish Samuel Lee; Santa Clara University |
| Discussant: Robert Marquez, University of California at Davis |
| Selling assets: When is the whole worth more than the sum of its parts? |
| By Robert Marquez; University of California at Davis Rajdeep Singh; University of Minnesota |
| Discussant: Andrey Malenko, Massachusetts Institute of Technology |
| Session: AFA Panel - Current Public Policy Issues and Finance January 5, 2016 13:00 to 15:00 Marriott Marquis, Yerba Buena Salons 5 & 6 |
| # | Participant | Roles in Conference |
|---|---|---|
| 1 | Adams, Renee | C33 |
| 2 | Addoum, Jawad | D11 |
| 3 | Adelino, Manuel | P99 |
| 4 | Agarwal, Sumit | D64 |
| 5 | Ai, Hengjie | D88 |
| 6 | Albuquerque, Rui | D30 |
| 7 | Almeida, Heitor | D108, P39, D56 |
| 8 | An, Xudong | P69 |
| 9 | Andries, Marianne | P13 |
| 10 | Arisoy, Yakup | P9 |
| 11 | Badarinza, Cristian | P69 |
| 12 | Baker, Malcolm | P35, D89 |
| 13 | Bakshi, Gurdip | D9 |
| 14 | Banerjee, Snehal | P6, C4 |
| 15 | Barber, Brad | D67 |
| 16 | Baron, Matthew | P98 |
| 17 | Barrot, Jean-Noel | D66 |
| 18 | Baruch, Shmuel | D15 |
| 19 | Becker, Bo | D39, P66 |
| 20 | Begley, Taylor | D35 |
| 21 | Belo, Frederico | C88 |
| 22 | Ben-David, Itzhak | P95 |
| 23 | Berg, Tobias | P56 |
| 24 | Berger, Allen | D97 |
| 25 | Bergman, Nittai | C46 |
| 26 | Berndt, Antje | D20 |
| 27 | Bernstein, Shai | D51, C66, D59 |
| 28 | Beshears, John | D89, C95 |
| 29 | Black, Bernard | D33 |
| 30 | Bliss, Barbara | P96 |
| 31 | Bonaime, Alice | P38 |
| 32 | Boustanifar, Hamid | P46 |
| 33 | Bouvard, Matthieu | P98 |
| 34 | Boyarchenko, Nina | D77 |
| 35 | Bradshaw, Mark T. | D47 |
| 36 | Brauning, Falk | P110 |
| 37 | Breon-Drish, Bradyn | D87 |
| 38 | Bryzgalova, Svetlana | P1 |
| 39 | Buffa, Andrea M. | D7, P77 |
| 40 | Buss, Adrian | P7 |
| 41 | Busse, Jeffrey | P8 |
| 42 | Bustamante, M. Cecilia | D88 |
| 43 | Calomiris, Charles | D108, C108 |
| 44 | Camerer, Colin | C113 |
| 45 | Campello, Murillo | D79 |
| 46 | Canayaz, Mehmet | P6 |
| 47 | Carlin, Bruce | D111 |
| 48 | Carvalho, Daniel | P49 |
| 49 | Casey, Michael | P112 |
| 50 | Cavallino, Paolo | D106 |
| 51 | Cespa, Giovanni | P15 |
| 52 | Chabakauri, Georgy | P87 |
| 53 | Chalmers, John | D95 |
| 54 | Chang, Tom | D79 |
| 55 | Chavaz, Matthieu | D56 |
| 56 | Chen, Hung-Kun | P38 |
| 57 | Chen, Hui | D35, C20 |
| 58 | Chen, Huaizhi | D3 |
| 59 | Cheng, Ing-Haw | D21 |
| 60 | Chernov, Mikhail | D19 |
| 61 | Cho, Thummim | P90 |
| 62 | chodorow-reich, Gabriel | D99 |
| 63 | Choi, Hyun-Soo | P69 |
| 64 | Christensen, Jens | P19 |
| 65 | Cieslak, Anna | C6, D1 |
| 66 | Clark-Joseph, Adam | P3 |
| 67 | Clarke, Charles | P85 |
| 68 | Coeurdacier, Nicolas | D106 |
| 69 | Cohen, Lauren | C3, D8 |
| 70 | Colla, Paolo | D18 |
| 71 | Colliard, Jean-Edouard | P90 |
| 72 | Collin-Dufresne, Pierre | D5, C19 |
| 73 | Cookson, J. Anthony | P48 |
| 74 | Cooney, John | P14 |
| 75 | Cooper, Ian | P30 |
| 76 | Cortes, Kristle | P63 |
| 77 | Cronqvist, Henrik | P99 |
| 78 | Crosby, John | P30 |
| 79 | Crosignani, Matteo | P110 |
| 80 | Crouzet, Nicolas | P63 |
| 81 | Custodio, Claudia | C45 |
| 82 | D'Acunto, Francesco | P89 |
| 83 | Daley, Brendan | D90 |
| 84 | Daniel, Naveen | P96 |
| 85 | Daniel, Kent | D8 |
| 86 | Danis, Andras | P36 |
| 87 | Dasgupta, Sudipto | P79 |
| 88 | Dasgupta, Amil | P83 |
| 89 | Del Guercio, Diane | P8 |
| 90 | Delikouras, Stefanos | P20 |
| 91 | Della Corte, Pasquale | P106 |
| 92 | DellaVigna, Stefano | D3 |
| 93 | Denis, David | D83 |
| 94 | Deshmukh, Sanjay | P44 |
| 95 | Detzel, Andrew | P1 |
| 96 | Dew-Becker, Ian | D23 |
| 97 | Di Maggio, Marco | P109 |
| 98 | Diamond, Douglas | P63 |
| 99 | Dick-Nielsen, Jens | D19 |
| 100 | Diether, Karl | D77, D3 |
| 101 | Dittmar, Amy | C35, D83 |
| 102 | Dong, Hui | P76 |
| 103 | Drechsler, Itamar | P105, C5 |
| 104 | Duarte, Jefferson | P4 |
| 105 | Duchin, Ran | D35, D44 |
| 106 | Duffee, Greg | D19 |
| 107 | Dyck, I. J. Alexander | D54 |
| 108 | Eckbo, B. Espen | P34 |
| 109 | Edmans, Alex | P39, C83 |
| 110 | Egan, Mark | P111 |
| 111 | Einav, Liran | P116 |
| 112 | Eisfeldt, Andrea | P4 |
| 113 | Ellahie, Atif | P1 |
| 114 | Ellison, Glenn | P116 |
| 115 | Engelberg, Joseph | D96 |
| 116 | Ewens, Michael | D51, D109, P59 |
| 117 | Faccio, Mara | D44 |
| 118 | Fang, Lily | D14, C96 |
| 119 | Farre-Mensa, Joan | D37 |
| 120 | Favara, Giovanni | P63 |
| 121 | Feldberg, Gregory | C97 |
| 122 | Ferreira, Miguel | D45 |
| 123 | Ferreira, Daniel | D33 |
| 124 | Fishe, Raymond | P15 |
| 125 | Fisher, Adlai | D2 |
| 126 | Fisman, Raymond | D83 |
| 127 | Flannery, Mark | D97 |
| 128 | Fos, Vyacheslav | D6, C14, P33 |
| 129 | Fournier, Mathieu | P23 |
| 130 | Frame, Scott | D48 |
| 131 | Franzoni, Francesco | P11 |
| 132 | Friewald, Nils | P19 |
| 133 | Frydman, Carola | C43, D45 |
| 134 | Frydman, Cary | C13 |
| 135 | Fuchs, William | D17 |
| 136 | Fuster, Andreas | P69 |
| 137 | Gallagher, Emily | P98 |
| 138 | Ganduri, Rohan | P56 |
| 139 | Gantchev, Nickolay | D94 |
| 140 | Garlappi, Lorenzo | P106 |
| 141 | Garleanu, Nicolae | C105, D20 |
| 142 | Gavazzoni, Federico | P106 |
| 143 | Gerken, William | P95 |
| 144 | Ghysels, Eric | D23 |
| 145 | Giglio, Stefano | C23, D92, D106, P2 |
| 146 | Gilbert, Thomas | D7 |
| 147 | Glode, Vincent | D4 |
| 148 | Goda, Gopi | D95 |
| 149 | Goldberg, Penny | P116 |
| 150 | Goldstein, Itay | P87 |
| 151 | Gomez, Juan-Pedro | P54 |
| 152 | Gormley, Todd | P43 |
| 153 | Gourier, Elise | P92 |
| 154 | Granja, Joao | D47 |
| 155 | Green, Brett | D17, C90 |
| 156 | Greenwood, Robin | D13 |
| 157 | Grinstein, Yaniv | D46 |
| 158 | Grullon, Gustavo | P46 |
| 159 | Guo, Hui | P5 |
| 160 | Hadlock, Charles | D45 |
| 161 | Haltiwanger, John | D49 |
| 162 | Han, Jungsuk | P90 |
| 163 | Hanlon, Michelle | C47, D54 |
| 164 | Hanson, Samuel | D98, C98 |
| 165 | Harford, Jarrad | C48 |
| 166 | Hartman-Glaser, Barney | D103 |
| 167 | Harvey, Campbell | P85 |
| 168 | Hasbrouck, Joel | D15 |
| 169 | Haslag, Peter | P17 |
| 170 | Hassan, Tarek | P96 |
| 171 | Hastings, Justine | D67 |
| 172 | He, Jie | P99 |
| 173 | He, Zhiguo | D103 |
| 174 | Hege, Ulrich | P34 |
| 175 | Heider, Florian | P17, D110 |
| 176 | Hendershott, Terrence | D4 |
| 177 | Hennessy, Christopher | P36 |
| 178 | Hermalin, Benjamin | D99 |
| 179 | Heyerdahl-Larsen, Christian | D7 |
| 180 | Hirshleifer, David | P116, C116 |
| 181 | Ho, Paul | P111 |
| 182 | Hochberg, Yael | D66, C59 |
| 183 | Hochfellner, Daniela | P49 |
| 184 | Holmstrom, Bengt | D36 |
| 185 | Hong, Harrison | P50 |
| 186 | Hotchkiss, Edie | P46 |
| 187 | Howell, Sabrina | D60 |
| 188 | huang, yuqin | P18 |
| 189 | Huang, Dayong | P9 |
| 190 | Huang, Zhongwei | P47 |
| 191 | Hwang, Byoung-Hyoun | D9 |
| 192 | Iliev, Peter | P37 |
| 193 | Imbierowicz, Bjorn | P97 |
| 194 | Ivashina, Victoria | C60, D66 |
| 195 | Iyer, Rajkamal | D46 |
| 196 | Jacobs, Kris | D92 |
| 197 | Jame, Russell | D11 |
| 198 | Jegadeesh, Narasimhan | P96 |
| 199 | Jenkinson, Tim | P60 |
| 200 | Jenter, Dirk | D43, D79 |
| 201 | Jiang, Liangliang | P47 |
| 202 | Jiang, Wenxi | P77 |
| 203 | John, Kose | C38 |
| 204 | Johnson, Travis | D92 |
| 205 | Johnson, Timothy | D4 |
| 206 | Jones, Charles | P14 |
| 207 | Jotikasthira, Pab | P78, D30 |
| 208 | Julliard, Christian | P87 |
| 209 | Kacperczyk, Marcin | D39 |
| 210 | Karolyi, Andrew | P37 |
| 211 | Karpoff, Jonathan | D48 |
| 212 | Kecskes, Ambrus | P83 |
| 213 | Kelly, Peter | P13 |
| 214 | Kelly, Bryan | D85, C92, D3 |
| 215 | Keloharju, Matti | P44 |
| 216 | Kermani, Amir | D63 |
| 217 | Keys, Benjamin | D95 |
| 218 | Klingler, Sven | P20 |
| 219 | Koijen, Ralph | D87, C1 |
| 220 | Kondor, Peter | C109, D18 |
| 221 | Korgaonkar, Sanket | P64 |
| 222 | Korteweg, Arthur | P7, D60 |
| 223 | Kosowski, Robert | C9 |
| 224 | Kostovetsky, Leonard | D76 |
| 225 | Koudijs, Peter | D14, D90 |
| 226 | Kozak, Serhiy | D85 |
| 227 | Kragt, Jac | P2 |
| 228 | Krishnamurthy, Arvind | P98 |
| 229 | Krueger, Philipp | P76 |
| 230 | Kuehn, Lars | C2 |
| 231 | Kueng, Lorenz | D78 |
| 232 | Kumar, Alok | C11 |
| 233 | Kurlat, Pablo | D87, D63 |
| 234 | Kuzmina, Olga | D54 |
| 235 | Laeven, Luc | C110 |
| 236 | Landier, Augustin | C76, C79, P9 |
| 237 | Larrain, Mauricio | P48 |
| 238 | Larrain, Borja | P11 |
| 239 | Leary, Mark | P79 |
| 240 | Lee, Samuel | P94 |
| 241 | Lemieux, Thomas | D49 |
| 242 | Levi, Yaron | P95 |
| 243 | Levit, Doron | C94 |
| 244 | Li, Kai | C34 |
| 245 | Li, Tao | P94 |
| 246 | Li, Si | P45 |
| 247 | Liang, Bing | P9 |
| 248 | Liao, Rose | P34 |
| 249 | Liberman, Andres | P67, D63 |
| 250 | Linnainmaa, Juhani | C8 |
| 251 | Liskovich, Inessa | P33 |
| 252 | Litov, Lubomir | P79 |
| 253 | Liu, Bo | P37 |
| 254 | Liu, Yan | P85 |
| 255 | Livdan, Dmitry | D105 |
| 256 | Lo, Andrew | P51 |
| 257 | Lochstoer, Lars | D2, D88, C21 |
| 258 | Londono, Juan M. | D5 |
| 259 | Longstaff, Francis | D20, D19 |
| 260 | Loranth, Gyongyi | P38 |
| 261 | Lou, Dong | D85, D109 |
| 262 | Loualiche, Erik | P88 |
| 263 | Loughran, Tim | D44 |
| 264 | Lucas, Deborah | D108 |
| 265 | Lucca, David | P6, D64, D96, D78 |
| 266 | Lustig, Hanno | D2 |
| 267 | Maggiori, Matteo | C106 |
| 268 | Malenko, Andrey | D60, D94 |
| 269 | Malkhozov, Aytek | P5 |
| 270 | Malmendier, Ulrike | D13 |
| 271 | Manela, Asaf | P64 |
| 272 | Manso, Gustavo | C51, D33 |
| 273 | Marchica, Maria-Teresa | P39 |
| 274 | Marquez, Robert | P64, D94 |
| 275 | Martin, Antoine | D6, D98 |
| 276 | Matos, Pedro | D34, P54 |
| 277 | Matray, Adrien | P44 |
| 278 | Matsa, David | C49, D38 |
| 279 | Matvos, Gregor | C111, D36 |
| 280 | McAfee, Preston | P116 |
| 281 | McAndrews, Jamie | D97 |
| 282 | McDonald, Robert | D111 |
| 283 | McKenney, Morgan | P112 |
| 284 | McLean, David | D9 |
| 285 | Melzer, Brian | D6, D50 |
| 286 | Menkveld, Albert | C15 |
| 287 | Michenaud, Sebastien | D99 |
| 288 | Milbradt, Konstantin | D98 |
| 289 | Milbradt, Konstantin | C103 |
| 290 | Milbradt, Konstantin | D77 |
| 291 | Mitts, Joshua | P14 |
| 292 | Moreira, Alan | D5 |
| 293 | Morse, Adair | C67, P78 |
| 294 | Moskowitz, Tobias | C114 |
| 295 | Munyan, Ben | P6 |
| 296 | Murphy, Kevin | D45 |
| 297 | Nagel, Stefan | C85, P20 |
| 298 | Nanda, Vikram | D44 |
| 299 | Nanda, Ramana | D59 |
| 300 | Naveen, Lalitha | P83, D38 |
| 301 | Nini, Greg | D48, D56 |
| 302 | Noth, Felix | P56 |
| 303 | Nowak, Eric | P97 |
| 304 | O'Hara, Maureen | D15 |
| 305 | Oesch, David | P47 |
| 306 | Officer, Micah | D34 |
| 307 | Opp, Christian | D111 |
| 308 | Ouimet, Paige | P45 |
| 309 | Pagnotta, Emiliano | D17 |
| 310 | Palomino, Francisco | D88 |
| 311 | Pan, Xuhui (Nick) | P21 |
| 312 | pan, yihui | P44 |
| 313 | Panageas, Stavros | D106 |
| 314 | Papanikolaou, Dimitris | C77 |
| 315 | Pareek, Ankur | D18 |
| 316 | Parham, Robert | P8 |
| 317 | Park, Andreas | D15 |
| 318 | Parker, Jonathan | D49 |
| 319 | Parsons, Christopher | C89, D69 |
| 320 | Pasquariello, Paolo | P105 |
| 321 | Pavlova, Anna | C7, D21 |
| 322 | Pedersen, Lasse | D9 |
| 323 | Pennacchi, George | P108, D20 |
| 324 | Peress, Joel | P4 |
| 325 | Perez-Gonzalez, Francisco | C99 |
| 326 | Petersen, Mitchell | D67 |
| 327 | Phalippou, Ludovic | D7, P60 |
| 328 | Phillips, Gordon | D39 |
| 329 | Piatti, Ilaria | D30 |
| 330 | Piskorski, Tomasz | C17 |
| 331 | Polo, Andrea | P108 |
| 332 | Popadak, Jillian | P66 |
| 333 | Pouget, Sebastien | D76 |
| 334 | Prabhala, N R | D37 |
| 335 | Prasad, Eswar | P30 |
| 336 | Pratt, Ryan | P66 |
| 337 | Puri, Manju | C37 |
| 338 | Purnanandam, Amiyatosh | P64 |
| 339 | Putnins, Talis | P17 |
| 340 | Qi, Jin | P33 |
| 341 | Qin, Zhenjiang | P7 |
| 342 | Rajan, Uday | D64 |
| 343 | Rajgopal, Shivaram | P78 |
| 344 | Ramadorai, Tarun | D11, P13, C30 |
| 345 | Rampini, Adriano | D63 |
| 346 | Ranaldo, Angelo | P110 |
| 347 | Rau, Raghavendra | D34 |
| 348 | Rauh, Joshua | D43 |
| 349 | Ravina, Enrichetta | D50 |
| 350 | Ready, Robert | P88 |
| 351 | Reuter, Jonathan | D37 |
| 352 | Rey, Helene | D23 |
| 353 | Rhodes-Kropf, Matthew | D51 |
| 354 | Riddiough, Timothy | D69 |
| 355 | Rinne, Kalle | P105 |
| 356 | Robinson, David | D48, D59 |
| 357 | Rostek, Marzena | D17 |
| 358 | Rottenstreich, Yuval | D89 |
| 359 | Roussanov, Nikolai | D13, P21 |
| 360 | Routledge, Bryan | D21 |
| 361 | ru, hong | P67 |
| 362 | Rubin, Amir | P3 |
| 363 | Sade, Orly | P59 |
| 364 | Saffi, Pedro | P35 |
| 365 | Salomao, Juliana | P36 |
| 366 | Sapienza, Paola | C50, D33 |
| 367 | Schaub, Nic | P95 |
| 368 | Scheinkman, Jose | P77 |
| 369 | Schmid, Lukas | P88, D36 |
| 370 | Schmidt, Daniel | P11 |
| 371 | Schnabl, Philipp | D110, C63, D38 |
| 372 | Schnabl, Philipp | D64 |
| 373 | Schneider, Paul | P92 |
| 374 | Schoar, Antoinette | D36 |
| 375 | Schonlau, Robert | P33 |
| 376 | Schumacher, David | P3 |
| 377 | Schweikhard, Frederic | P97 |
| 378 | Sedunov, John | P11 |
| 379 | Sensoy, Berk | P60 |
| 380 | Seo, Hojun | P45 |
| 381 | Sepe, Simone | P48 |
| 382 | Seru, Amit | D51, C64, D69 |
| 383 | Severino, Felipe | P79, D46 |
| 384 | Shaliastovich, Ivan | P5 |
| 385 | Shaton, Maya | P67 |
| 386 | Shen, Ji | P105 |
| 387 | Shevlin, Terry | D47 |
| 388 | Shkilko, Andriy | P15 |
| 389 | Shue, Kelly | D76, C39 |
| 390 | Sialm, Clemens | D109, D8 |
| 391 | Sias, Richard | D11 |
| 392 | Siegel, Stephan | P89 |
| 393 | Siemer, Michael | P23 |
| 394 | Siming, Linus | P43 |
| 395 | Simintzi, Elena | D34 |
| 396 | Simonyan, Karen | P66 |
| 397 | Simutin, Mikhail | P85 |
| 398 | Singh, Rajdeep | P94 |
| 399 | Soltes, Eugene | D96 |
| 400 | Sotes-Paladino, Juan | P7 |
| 401 | Spatt, Chester | D14, D78, D69 |
| 402 | Sraer, David | D105, D90 |
| 403 | Starks, Laura | P76 |
| 404 | Starks, Laura | D94 |
| 405 | Stein, Jeremy | D110 |
| 406 | Steri, Roberto | P111 |
| 407 | Stoughton, Neal | P89 |
| 408 | Strahan, Philip | D109, C56 |
| 409 | Stromberg, Per | P49 |
| 410 | Sulaeman, Johan | P50 |
| 411 | Sunderam, Adi | D98 |
| 412 | Swanson, Tim | P112 |
| 413 | Taillard, Jerome | P39 |
| 414 | Tamoni, Andrea | P2 |
| 415 | Tate, Geoffrey | D43, C44 |
| 416 | Taylor, Lucian | P109, C36 |
| 417 | Teguia, Alberto | P90 |
| 418 | Tetlock, Paul | C96 |
| 419 | Titman, Sheridan | P8, C69 |
| 420 | Tookes, Heather | D14 |
| 421 | Townsend, Richard | D89, D66 |
| 422 | Trolle, Anders | D21 |
| 423 | Tsoutsoura, Margarita | C54 |
| 424 | Tsoutsoura, Margarita | D50 |
| 425 | Urban, Daniel | P50 |
| 426 | Van Achter, Mark | P15 |
| 427 | van Binsbergen, Jules | D60, P109, C78 |
| 428 | Van Nieuwerburgh, Stijn | D1 |
| 429 | Vega, Clara | P20 |
| 430 | Veldkamp, Laura | D6, C87 |
| 431 | Verdelhan, Adrien | P106 |
| 432 | Veronesi, Pietro | D87 |
| 433 | Virani, Aazam | P94 |
| 434 | Viswanathan, S. | D90 |
| 435 | Vladimirov, Vladimir | P103 |
| 436 | Vogt, Erik | P23 |
| 437 | Wachter, Jessica | P5, D2 |
| 438 | Walden, Johan | C18 |
| 439 | Wallace, Nancy | D79 |
| 440 | Wang, Neng | P36 |
| 441 | Wang, Zhenyu | P108 |
| 442 | Wang, Tracy | D95 |
| 443 | Wang, Qinghai | P3 |
| 444 | Wardlaw, Malcolm | P48 |
| 445 | Weber, Michael | P89 |
| 446 | Wei, Jason | D38 |
| 447 | Wei, Lai | P51 |
| 448 | Weill, Pierre-Olivier | D105 |
| 449 | Weinbaum, David | P92 |
| 450 | Wermers, Russ | P18 |
| 451 | Werner, Ingrid | D30 |
| 452 | Whited, Toni | P116 |
| 453 | Winton, Andrew | D83 |
| 454 | Wolfers, Justin | D96 |
| 455 | Wright, Jonathan | P19 |
| 456 | Wu, Di (Andrew) | P14 |
| 457 | Xing, Yuhang | P19 |
| 458 | Xu, Qiping | P35 |
| 459 | Xu, Ting | P59 |
| 460 | Xuan, Yuhai | P43 |
| 461 | Yamarthy, Ram | P88 |
| 462 | Yang, Liu | P34 |
| 463 | Yang, Liyan | P21 |
| 464 | Yang, Huan | P38 |
| 465 | Yang, Ming | D4 |
| 466 | Yaron, Amir | D5, P2 |
| 467 | Yasuda, Ayako | P60 |
| 468 | Yavuz, Mehmet | D18 |
| 469 | Ye, Dongyan | P18 |
| 470 | Yermack, David | C112, P83 |
| 471 | Yogo, Motohiro | D1 |
| 472 | Yu, Xiaoyun | P51 |
| 473 | Yu, Qianqian | P51 |
| 474 | Yu, Jianfeng | D105, P87 |
| 475 | Yun, Hayong | D39 |
| 476 | Zawadowski, Adam | P4 |
| 477 | Zeume, Stefan | P54 |
| 478 | Zhang, Kuo | P45 |
| 479 | Zhang, Jian | P109 |
| 480 | Zhang, Shaojun | P30 |
| 481 | Zheng, Lu | D8 |
| 482 | Zhong, Zhuo | P18 |
| 483 | Zhong, Hongda | P103 |
| 484 | Zhu, Haoxiang | P17, D103, P21 |
| 485 | Zucchi, Francesca | P103 |
This program was last updated on 2015-10-19 15:19:42 EDT