Friday, November 10
8:00 am
Continental Breakfast
Empirical Corporate Finance
8:30 am

The Information Content of Dividends: Safer Pro fits, not Higher Pro fits

Roni Michaely, University of Hong Kong
Stefano Rossi, Bocconi University
Michael Weber, University of Chicago and NBER

Discussant:
Jules H. van Binsbergen, University of Pennsylvania and NBER
9:20 am

Inefficiencies and Externalities from Opportunistic Acquirers

Di Li, Georgia State University
Lucian A. Taylor, University of Pennsylvania
Wenyu Wang, Indiana University

Discussant:
S. Vish Viswanathan, Duke University and NBER
10:10 am
Break
Theory
10:30 am

Securitization, Ratings, and Credit Supply

Victoria Vanasco, Center for Research in Economics and Statistics
Brendan Daley, University of Colorado, Boulder
Brett Green, Washington University in St Louis

Discussant:
Philip Bond, University of Washington
11:20 am

Persistent Blessings of Luck

Lin William Cong, Cornell University and NBER
Yizhou Xiao, Chinese University of Hong Kong

Discussant:
Matthew Rhodes-Kropf, Massachusetts Institute of Technology
12:10 pm
Lunch
Inequality
1:10 pm

Capitalists in the Twenty-First Century

Matthew Smith, Department of the Treasury
Danny Yagan, University of California, Berkeley and NBER
Owen M. Zidar, Princeton University and NBER
Eric Zwick, University of Chicago and NBER

Discussant:
Joshua Rauh, Stanford University and NBER
2:00 pm

Color and Credit: Race, Regulation, and the Quality of Financial Services

Taylor Begley, University of Kentucky
Amiyatosh Purnanandam, University of Michigan

Discussant:
Christopher A. Parsons, University of Washington
2:50 pm
Break
Financial Distress
3:10 pm

The Death of a Regulator: Strict Supervision, Bank Lending and Business Activity

Joao Granja, University of Chicago
Christian Leuz, University of Chicago and NBER

Discussant:
Amit Seru, Stanford University and NBER
4:00 pm

The Loan Covenant Channel: How Bank Health Transmits to the Real Economy

Gabriel Chodorow-Reich, Harvard University and NBER
Antonio Falato, Federal Reserve Board of Governors

Discussant:
Justin Murfin, Cornell University
4:50 pm
Adjourn
5:30 pm
Dinner
Schwab-Vidalakis Dining Hall, 680 Serra Street, Stanford, CA 94305