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Agenda
|
August 9, 2007 |
Time |
| Reception and dinner |
7:30 p.m. |
|
August 10, 2007 |
|
| Registration |
8:30 a.m. – 9:00 a.m. |
|
Programme Introduction
|
9:00
a.m. – 9:10 a.m. |
| Sankar De (Indian School of Business) |
|
Financing Channels |
9:10
a.m. – 12:10 p.m. |
Chair: Franklin Allen (Wharton)
Sumit Agarwal (Federal Reserve Bank of Chicago) and Robert
Hauswald (American University)
The Choice between Arm’s Length and Relationship Debt:
Evidence from eLoans
Discussant: Raghuram Rajan (Chicago)
Meghana Ayyagari (George Washington), Asli Demigruc-Kunt
(World Bank) and Vojislav Maksimovic (Maryland)
Formal versus Informal Finance: Evidence from China
Discussant: Amit Bubna (Indian School of Business)
Mariassunta Giannetti (Stockholm School of Economics and
CEPR) and Xiaoyun Yu (Indiana)
Favoritism in Capital Allocation
Discussant: Todd Gormley (Washington - St. Louis)
|
|
Afternoon |
12:00 p.m. – 3:00 p.m. |
| Lunch and interaction |
|
|
Evening session |
3:00 p.m. – 6:00 p.m. |
Legal Institutions, Financing and
Investments
Chair: Raghuram Rajan (Chicago)
Viral Acharya (London Business School and CEPR) and
Krishnamurthy Subramanian (Emory)
Bankruptcy Codes and Innovation
Discussant: Vikram Khanna (Michigan)
Anil Shivdasani (North Carolina) and Wei-Ling Song
(Louisiana State)
Breaking Down the Barriers: Bank Competition and
Underwriting Incentives
Discussant: Sumit Agarwal (Federal Reserve Bank of Chicago)
Franklin Allen (Wharton) and Jun”QJ” Qian (Boston College)
Corruption and Competition
Discussant: Sudipto Dasgupta (Hong Kong University of
Science and Technology)
|
|
CAF anniversary dinner |
7:30 p.m. |
| |
|
August 11, 2007
Morning session |
9:00 a.m.- 12:00 p.m. |
Role of Controlling Shareholders
Chair: Sudipto Dasgupta (Hong Kong University of Science and
Technology)
Radhakrishnan Gopalan (Washington – St. Louis), Vikram Nanda
(Arizona State) and Amit Seru (Michigan)
Do Business Groups Use Dividends to Fund Investments?
Discussant: Meghana Ayyagari (George Washington)
Andrew Ellul (Indiana)
Control Motivations and Capital Structure Decisions
Discussant: Kai Li (University of British Columbia)
Jianping Deng (University of Electronic Science and
Technology of China), Jie Gan (Hong Kong University of
Science and Technology) and Jie He (Chinese University of
Hong Kong)
Privatization, Large Shareholders’ Incentive to
Expropriate, and Firm Performance
Discussant: Bill Megginson (Oklahoma)
|
|
Afternoon |
12:00 p.m. – 3:00 p.m. |
| Lunch and interaction |
|
| |
|
Managerial Incentives
Chair: Bhagwan Chowdhry (UCLA)
Yuk Ying Chang (Massey University), Sudipto Dasgupta and
Gilles Hilary (Hong Kong University of Science and
Technology)
Managerial Reputation in Financial and Labor Markets
Discussant: David Matsa (Kellogg)
Jayant Kale (Georgia State), Ebru Reis (Miami) and Anand
Venkateswaran (Northeastern)
Rank Order Tournaments and Incentive Alignment: The
Effect on Firm Performance
Discussant: Rajesh Aggarwal (Minnesota)
Brishti Guha (Singapore Management University)
The Case of the Errant Executive: Management and Control
in Corporate Cheating
Discussant: Sudipto Bhattacharya (London School of
Economics)
|
|
Keynote Address |
6:30
p.m. |
| Raghuram Rajan (Chicago, CAF Academic Fellow
2007) |
|
|
Dinner |
7:30 p.m. |
| |
|
August 12, 2007
Morning session 9:00 a.m. – 1:30 p.m. |
|
Corporate Governance
Chair: Bill Megginson (Oklahoma)
N. K. Chidambaran, Darius Palia and Yudan Zheng (Rutgers)
Does Better Corporate Governance “Cause” Better Firm
Performance?
Discussant: Anil Shivdasani (North Carolina)
Thomas H. Noe, Michael J. Rebello (Tulane) and Ramana Sonti
(Indian School of Business)
Activists, Raiders, and Directors: Opportunism and the
Balance of Corporate Power
Discussant: Andrew Ellul (Indiana)
|
9:00 a.m. – 11:00 a.m. |
|
Break |
11:00 a.m. – 11:30 a.m. |
Corporate Restructuring
Chair: Sankar De (Indian School of Business)
Jarrad Harford (University of Washington), Dirk Jenter
(Massachusetts Institute of Technology and NEBR) and Kai Li
(University of British Columbia)
Conflicts of Interests among Shareholders: The Case of
Corporate Acquisitions
Discussant: Radhakrishnan Gopalan (Washington – St. Louis)
David A. Matsa (Kellogg)
Operating Under the Liquidity Crunch: The Impact of LBOs
on Product Availability in the Supermarket Industry
Discussant: Ramana Sonti (Indian School of Business)
|
11:30 a.m. – 1: 30 p.m. |
|
Lunch |
1:30 p.m. |
Conference papers
Please visit
http://www.isb.edu/SummerResearchConference/SelectedPapers.html
Conference committee
We acknowledge the dedication and hard work of the committee
members:
Franklin Allen (Wharton), Arnaud Boot (Amsterdam), Glenn Boyle (New
Zealand Institute for the Study of Competition and Regulation),
Bhagwan Chowdhry (UCLA), Stijn Claessens (IMF), Francesca Cornelli
(London Business School), Sudipto Dasgupta (HKUST), Joseph Fan (CUHK),
Thomas Hellmann (UBC), Kose John (NYU), Han Kim (Michigan), Vojislav
Maksimovic (Maryland), Massimo Massa (INSEAD), Tom Noe (Tulane),
Terry Odean (Berkeley), NR Prabhala (Maryland), Manju Puri (Duke),
Subrata Sarkar (Indira Gandhi Institute of Development Research),
Rangarajan Sundaram (NYU), and Anjan Thakor (Washington-St. Louis).
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