NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

SUMMER INSTITUTE 2010

 

Corporate Finance Workshop

 

Michael Faulkender and Mitchell Petersen, Organizers

 

July 12-13, 2010

 

Royal Sonesta Hotel

Ballroom A

40 Edwin H. Land Blvd.

Cambridge, MA

 

PROGRAM

 

MONDAY, JULY12:

 

 

 8:30 am

Coffee and Pastries

 

 

 9:00 am

JOSHUA RAUH, Northwestern University and NBER

 

AMIR SUFI, University of Chicago and NBER

 

Explaining Corporate Capital Structure: Product Markets, Leases, and Asset Similarity

 

 

 

Discussant:  MURILLO CAMPELLO, University of Illinois and NBER

 

 

9:50 am

XAVIER GIROUD, New York University

 

HOLGER MUELLER, New York University and NBER

 

ALEXANDER STOMPER, MIT

 

ARNE WESTERKAMP, Vienna University of Economics and Business

 

Snow and Leverage

 

 

 

Discussant:   MICHAEL ROBERTS, University of Pennsylvania

 

 

10:40 am

Break

 

 

11:00 am

JUSTIN MURFIN, Yale University

 

The Supply-Side Determinants of Loan Contract Strictness

 

 

 

Discussant:  PHILIP STRAHAN, Boston College and NBER

 

 

11:50 am

Lunch

 

 

1:00 pm

JESSE EDGERTON, Federal Reserve Board

 

Agency Problems in Public Firms: Evidence from Corporate Jets in Leveraged Buyouts

 

 

 

Discussant:  JULIE WULF, Harvard University

 

 

1:50 pm

BO BECKER, Harvard University and NBER

 

PER STROMBERG, Institute for Financial Research and NBER

 

Fiduciary Duties and Equity-Debtholder Conflicts

 

 

 

Discussant: KENNETH AYOTTE, Northwestern University

 

 

2:40 pm

Break

 

 

3:00 pm

HENRIK CRONQVIST, Claremont McKenna College

 

ANIL MAKHIJA and SCOTT YONKER, Ohio State University

 

Behavioral Consistency in Corporate Finance: CEO Personal and Corporate Leverage

 

 

 

Discussant: MARK FLANNERY, University of Florida

 

 

3:50 pm

RAMIN BAGHAI, HENRI SERVAES and ANE TAMAYO, London Business School

 

Have Rating Agencies Become More Conservative?

 

 

 

Discussant:  CRAIG MACKINLAY, University of Pennsylvania and NBER

 

 

4:40 pm

Adjourn

 

 

6:00 pm

Group Dinner – Royal Sonesta Hotel (Riverfront Room)

 

 

TUESDAY, JULY 13:

 

 

 8:00 am

Coffee and Pastries

 

 

 8:30 am

VOJISLAV MAKSIMOVIC, University of Maryland

 

GORDON PHILLIPS, University of Maryland and NBER

 

LIU YANG, UC, Los Angeles

 

Private and Public Merger Waves

 

 

 

Discussant:  DAVID ROBINSON, Duke University and NBER

 

 

9:20 am

ITZHAK BEN-DAVID, Ohio State University

 

MICHAEL  DRAKE and DARREN ROULSTONE, Ohio State University

 

Are Stock Acquirers Overvalued? Evidence from Short Selling Activity

 

 

 

Discussant:  MATTHEW RHODES-KROPF, Harvard University

 

 

10:10 am

Break

 

 

10:30 am

VIKAS MEHROTRA, University of Alberta

 

RANDALL MORCK, University of Alberta and NBER

 

JUNGWOOK SHIM, Hitotsubashi University

 

YUPANA WIWATTANAKANTANG, National University of Singapore

 

Adoptive Expectations: Rising Sons in Japanese Family Firms

 

 

 

Discussant: BELEN VILLALONGA, Harvard University

 

 

11:20 am

GREGOR MATVOS, University of Chicago

 

Renegotiation Design: Evidence from NFL roster bonuses

 

 

 

Discussant: ALEX EDMANS, University of Pennsylvania

 

 

 

 

 

12:10 pm

BRUCE CARLIN, UC, Los Angeles and NBER

 

SIMON GERVAIS, Duke University

 

Legal Protection in Retail Financial Markets

 

 

 

Discussant: ROBERTA ROMANO, Yale University and NBER

 

 

1:00 pm

Lunch

 

 

 

AFTERNOON SESSION JOINT WITH ASSET PRICING

 

 

2:00 pm

ZHIGUO HE, University of Chicago

 

IN GU KHANG, Northwestern University

 

ARVIND KRISHNAMURTHY, Northwestern University and NBER

 

Balance Sheet Adjustments during the 2008 Crisis

 

 

 

Discussant: MARK CAREY, Federal Reserve Board

 

 

2:50 pm

Break

 

 

3:10 pm

THOMAS PHILIPPON, New York University and NBER

 

PHILIPP SCHNABL, New York University

 

Efficient Recapitalization

 

 

 

Discussant: ITAY GOLDSTEIN, University of Pennsylvania

 

 

4:00 pm

Adjourn

 

 

 

 

 

 

 

 

 

 

5/28/10