Finance Seminar Series

Spring 2009

Peter DeMarzo, Stanford
"Dynamic Agency and the Theory of investment"

Ilona Babenko, Hong Kong University of Science & Technology
"Adverse Selection and Stock-based Grants to Non-executive Employees"

Yuri Tserlukevich, Hong Kong University of Science & Technology
"The Propensity to Save and Incentives to Reduce Debt"

Antonio Macias, Purdue University
"Risk Pricing and Flexibility in Acquisitions: The Economic Impact of Material Adverse Change Clauses"

Breno Schmidt, U of Southern California
9am
Costs and Benefits of 'Friendly' Boards During Mergers and Acquisitions

Seoyoung Kim, Emory University
"Earnings Management and Social Ties"

Sheng Huang, Washington University
"CEO Characteristics, CEO-Firm Match and Corporate Refocus Value"

Yihui Wang, University of North Carolina
"Does Credit Supply Drive the LBO Market?"

Sugata Ray, Wharton
"Effort, Risk and Walkaway Under High Water Mark Contracts"

Jennifer Dlugosz, Harvard
"What Lies Beneath: An Inside Look at CDO Collateral"

John Hund

Evan Dudley, University of Florida

Greg Kadlec, Virginia Tech
"What Do Soft Dollars Buy? Performance, Expense Shifting, Agency Costs"

Yuhai Xuan, Harvard Business School
"Under New Management: Equity Issues and the Attribution of Past Returns"

Cindy Alexander, US SEC
"The Role of Advisory Services in Proxy Voting"

Spring 2008

Matthew Cain, Purdue University
The Information Content of Fairness Opinions in Negotiated Mergers

Andrea Frazzini, Chicago - with Lauren Cohen and Christopher Malloy
The Small World of Investing: Board Connections and Mutual Fund Returns

Zhi Li, Arizona State
Behavioral and rational explanations of stock price performance around SEOs: Evidence from a decomposition of market-to-book ratios

Evan Dudley, Rochester
Intermittent investment and capital structure

Jonathan Cohn, Michigan
Investment, Cash Flow and Financial Markets: Evidence from Tax Loss Carryforwards

Ambrus Kecskes, University of Toronto
Why are firms that raise more financing worth more?

Yu Yuan, Wharton
Attention and Trading

Peter Iliev, Brown
The Effect of the Sarbanes-Oxley Art (Section 404)*

Ran Duchin, USC
Cash Holdings and Corporate Diversification

Ludovic Phalippou, Amsterdam
The Performance of LBO Investments

Mark Carey, Board of Governors
The Bank as Grim Reaper: Debt Composition and Recoveries on Defaulted Debt

Simon Gervais, Duke University
Overconfidence, Investment Policy, and Manager Welfare

Malcolm Baker, Harvard
Catering Through Nominal Share Prices

Mark Chen, Georgia State
Boardroom Brawls: An Empirical Analysis of Disputes Involving Directors

Fall 2008

Murray Frank, University of Minnesota
"Profits and Capital Structure"

Alok Kumar, University of Texas at Austin
"Superior Information or a Psychological Bias? A Unified Framework with Cognitive Abilities Resolves Three Puzzles"

Antoinette Schoar, MIT
"The Importance of Holdup in Contracting: Evidence from a Field Experiment"

Alexander Butler, University of Texas at Dallas
"Does access to external finance improve productivity? Evidence from a natural experiment"

Manju Puri, Duke
"Understanding Bank Runs: The Importance of Depositor-Bank Relationships and Networks"

Spring 2007

Sorin Sorescu, Texas A&M
A Reexamination of Corporate Governance and Equity Prices

Wei Jiang, Columbia University (visiting at Wharton)
Hedge Fund Activism, Corporate Governance, and Firm Performance

Christian Andres, University of Florida and University of Bonn
Family Ownership, Financing Constraints and Investment Decisions

Cem Demiroglu, University of Florida
The Information Content of Bank Loan Covenants

Laura Starks, University of Texas
Headlines and Bottom Lines: Attention and Learning Effects from Media Coverage Mutual Funds

Fall 2007

Andriy Bodnaruk, Maastrict University
The Dark Role of Investment Banks in the Market for Corporate Control

Michael Roberts, Wharton University
Contingency and Renegotiation of Financial Contracts: Evidence from Private Credit Agreements

Kewei Hou, Ohio State
Resurrecting the Size Effect: Firm Size, Profitability Shocks, and Expected Stock Returns

Mitch Warachka, Singapore Management University
Return Predictability of Analyst Forecasts

Danling Jiang, Florida State
Short-Sale Constraints and the Non-January Idiosyncratic Volatility Puzzle

Ayako Yasuda, Wharton
Are Stars' Opinions Worth More? The Relation between Analyst Reputation and Recommendation Values

Andrea Eisfeldt, Northwestern University
Financing Shortfalls and the Value of Aggregate Liquidity

Spring 2006

Clara Vega, University of Rochester
Asymmetric Information in the Stock Market: Economic News and Co-movement

Carola Schenone, University of Virginia
Lending Relationships and Information Rents

Katrina Ellis, UC-Davis
Capital Gaines Taxes and IPO Returns

Gordon Phillips, University of Maryland & NBER
Why Do Public Firms Issue Public and Private Securities?

Yonghen Deng, Southern California Real Estate Group

Fall 2006

Mitch Petersen, Kellogg

Allen Poteshm, Illinois
Does Option Trading Have a Pervasive Impact on Underlying Stock Prices?

Michael Boldin

Steve Sharpe, Federal Reserve Board of Governors

Spring 2005

Miles Livingston, University of Florida
Mutual Funds Costs

Dan Bergstresser, Harvard Business School

Armen Hovakimian, Baruch College
Are Observed Capital Structures Determined by Equity Market Timing?

Wayne Ferson, Boston College
The Timing Ability of Fixed Income Mutual Funds

Jonathan Lewellen, MIT
The Conditional CAPM Does Not Explain Asset-pricing Anomalies

Fall 2005

Ozgur "Ozzie" Ince, University of Florida
The Partial Adjustment of IPO Offer Prices Is Not Due to Dynamic Information Acquisition

Amir Sufi, University of Chicago
Banks and Flexibility: Empirical Evidence on the Mix of Equity, Bonds, and Bank Debt

Chris James, University of Florida
Banks and Bubbles: How Good are Bankers at Spotting Winners

Laura Starks, Univeristy of Texas

Hassan Naqvi, National University of Singapore
Banking Crises and the Lender of Last Resort: How Crucial Is the Role of Information?

Kristine Watson Hankins, University of Florida
Empirical Evidence on Risk Management: M&A Activity and Derivatives Use

Annette Vissing-Jorgensen, Northwestern's Kellogg School
Long-run Stockholder Consumption Risk and Asset Pricing

Joao Santos, NY Federal Reserve
Bank Loans, Bonds, and Information Monopolies Across the Business Cycle