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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

Causes and Consequences of Corporate Culture

Luigi Zingales and James Poterba, Organizers

December 8-9, 2011

Feldstein Conference Room, Second Floor

1050 Massachusetts Avenue

Cambridge, MA 02138

Program

Thursday, December 8
7:45 & 8:00	Shuttle vans from the Royal Sonesta to 1050 Massachusetts Avenue
8:00 a.m.	Breakfast
	Corruption and Ethical Values
8:30 a.m.	Serguey Braguinsky, Carnegie-Mellon University
	Sergey V. Mityakov, Clemson University
	Foreign Corporations and the Culture of Transparency
Discussants:	Luigi Guiso, European University Institute
	Francisco Perez Gonzales, Stanford University
9:30 a.m.	Coffee break
10:00 a.m.	Yan-Leung Cheung, Hong Kong Baptist University
	Raghavendra Rau, University of Cambridge
	Aris Stouraitis, Hong Kong Baptist University
	Which Firms Benefit from Bribes and How Much? Evidence from Corruption Cases Worldwide
Discussants:	Ray Fisman, Columbia University and NBER
	Mara Faccio, Purdue University
11:00 a.m.	Jason M. DeBacker, US Department of the Treasury
	Bradley Heim, Indiana University
	Anh Tran, Indiana University
	Importing Corruption Norms from Overseas: Evidence from Corporate Tax Evasion in the U.S.
Discussants:	Anna Paulson, Federal Reserve Bank of Chicago
	Mihir Desai, Harvard University and NBER
12:00 m	Lunch
	Ethical Values and Accounting fraud
1:00 p.m.	Lee Biggerstaff, University of Tennessee
	David C. Cicero, University of Delaware
	Andy Puckett, University of Tennessee
	Do Cheaters Win? An Investigation into CEOs of Questionable Moral Character
Discussants:	Efraim Benmelech Harvard University and NBER
	Francesca Gino, Harvard University
2:00 p.m.	Robert Davidson and Abbie Smith, University of Chicago
	Aiyesha Dey, University of Minnesota
	Executives’ Ethics, Lavish Lifestyles, and Fraudulent Corporate Reporting
Discussants:	David Cooper, University of Alberta
	Adam Galinsky, Northwestern University
3:00 p.m.	Coffee break
3:30 p.m.	Peter Wysocki and Dhananjay Nanda, University of Miami
	The Relation Between Trust and Accounting Quality
Discussants:	Christian Leuz, University of Chicago
	Bruce Carlin, University of California at Los Angeles and NBER
4:30 p.m.	Robert G. Eccles, Harvard University
	Ioannis Ioannou London Business School
	George Serafeim Harvard University
	The Impact of a Corporate Culture of Sustainability on Corporate Behavior and Performance
Discussants:	David Larcker, Stanford University
	Jeremy Stein, Harvard University and NBER
5:30 p.m.	Adjourn and Shuttle vans to the Royal Sonesta
7:00 p.m.	Dinner: Royal Sonesta Hotel, Parkview Room
	Keynote Speaker: Ben Heineman Harvard Law School and Kennedy School of Government
Friday, December 9
7:45 & 8:00	Shuttle vans from the Royal Sonesta to 1050 Massachusetts Avenue
8:00 a.m.	Breakfast
	Culture and Ethical Values
8:30 a.m.	Nicholas Bloom, Stanford University and NBER
	Raffaella Sadun, Harvard University
	John Van Reenen, London School of Economics and NBER
	The Organization of Firms across Countries
Discussants:	John Roberts, Stanford University
	Rob Gertner, University of Chicago and NBER
9:30 a.m.	Coffee break
10:00 a.m.	Mary Margaret Frank and Luann Lynch, University of Virginia
	Sonja Olhoft Rego, Indiana University
	Rong Zhao, Drexel University
	Are Aggressive Reporting Practices Indicative of an Aggressive Corporate Culture?
Discussants:	Frank Partnoy, University of San Diego
	Tom Lys, Northwestern University
11:00 a.m.	Kenneth M. Lehn, Jared Smith, and Leonce Bargeron, University of Pittsburgh
	Corporate Culture and M&A Activity: Evidence for U.S. Firms 1998-2009
Discussants:	Kenneth Ahern, University of Michigan
	Mark Mitchell, CNH Partners
12:00 m	Lunch
1:00 – 2:00	Luigi Guiso, European University Institute, Florence
	Paola Sapienza, Northwestern University and NBER
	Luigi Zingales, University of Chicago and NBER
	The Value of Corporate Values
Discussants:	David Kreps, Stanford University
	Joshua Margolis, Harvard University
2:00 p.m.	Coffee break
2:30 p.m.	Panel Discussion:
	David Kreps, Stanford University
	Michael Jensen, Harvard University and NBER
	David Baron, Stanford University
4:00 p.m.	Adjourn