SI 2025 Corporate Finance
Organized by Antoinette Schoar and Amir Sufi
July 7-8, 2025
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Format: 20 minutes for the author, 15 minutes for the discussant, 15 minutes for Q&A.
Monday, July 7
10:30 am
Introductions
10:40 am

Fragile Financing? How Corporate Reliance on Shadow Banking Affects their Access to Bank Liquidity

Viral V. Acharya, New York University and NBER
Manasa Gopal, Georgia Institute of Technology
Sascha Steffen, Frankfurt School of Finance and Management

Discussant:
Adi Sunderam, Harvard University and NBER
11:30 am

Financial Shocks, Productivity, and Prices

Simone Lenzu, New York University
David Rivers, University of Western Ontario
Joris Tielens, National Bank of Belgium
Shi Hu, New York University

Discussant:
Tim Landvoigt, University of Pennsylvania and NBER
12:20 pm
Lunch
1:30 pm

Indirect Credit Supply: How Bank Lending to Private Credit Shapes Monetary Policy Transmission

Young Soo Jang, Pennsylvania State University
Sharjil Haque, Federal Reserve Board of Governors
Jessie Jiaxu Wang, Federal Reserve Board of Governors

Discussant:
Erica Xuewei Jiang, University of California, Los Angeles
2:20 pm
Break
2:50 pm

Taxes and Private Firms’ Capital Structure Choices

Mara Faccio, Purdue University and NBER
Jin Xu, Virginia Polytechnic Institute and State University

Discussant:
John Graham, Duke University and NBER
3:40 pm

Mental Models and Financial Forecasts

Francesca Bastianello, University of Chicago
Paul Décaire, Arizona State University
Marius Guenzel, University of Pennsylvania

Discussant:
David Thesmar, Massachusetts Institute of Technology and NBER
4:30 pm
Adjourn
Tuesday, July 8
8:30 am
Coffee and Pastries
9:10 am

Branching Out: Capital Mobility and Long-Run Growth

Sarah Quincy, Vanderbilt University and NBER
Chenzi Xu, University of California, Berkeley and NBER

Discussant:
Emil Verner, Massachusetts Institute of Technology and NBER
10:00 am
Break
10:30 am

Creditor-on-Creditor Violence and Secured Debt Dynamics

Samuel Antill, Harvard University
Zhaoli Jiang, The Hong Kong Polytechnic University
Neng Wang, Cheung Kong Graduate School of Business

Discussant:
Kenneth Ayotte, University of California, Berkeley
11:20 am

Private Equity and Workers: Modeling and Measuring Monopsony, Reallocation, and Trust

Kyle F. Herkenhoff, University of Minnesota and NBER
Josh Lerner, Harvard University and NBER
Gordon M. Phillips, Dartmouth College and NBER
Francisca Rebelo, Boston College
Benjamin Sampson, Stanford University

Discussant:
Kenneth R. Ahern, University of Southern California and NBER
12:20 pm
Lunch
1:10 pm

Distortive Effects of Deposit Insurance: Administrative Evidence from Deposit and Loan Accounts

Dominic Cucic, Danmarks Nationalbank
Rajkamal Iyer, Imperial College London
Sotirios Kokas, University of Essex
Jose-Luis Peydro, Luiss University
Stefano Pica, Boston University

Discussant:
Alexi Savov, New York University and NBER
2:00 pm

Bank Runs and Interest Rates: A Revolving Lines Perspective

Falk Bräuning, Federal Reserve Bank of Boston
Victoria Ivashina, Harvard University and NBER

Discussant:
Rustom Irani, University of Illinois Urbana-Champaign
2:50 pm
Break
3:20 pm

Information-Concealing Credit Architecture

Gary B. Gorton, Yale University and NBER
Ye Li, University of Washington
Guillermo Ordoñez, University of Pennsylvania and NBER

Discussant:
Douglas W. Diamond, University of Chicago and NBER
4:10 pm

Politics, Regulation, and Bank Payouts

Rüdiger Fahlenbrach, École Polytechnique Fédérale de Lausanne (EPFL)
Minsu Ko, Monash University
René M. Stulz, The Ohio State University and NBER

Discussant:
Todd A. Gormley, Washington University in St Louis and NBER
5:00 pm
Adjourn