Conference Agenda

Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).

Only Sessions at Location/Venue 
Session Overview
Location: Room 104
Date: Tuesday, 28/May/2019
1:30pm - 3:15pm2.2: Corporate Governance 1
Session Chair: INDRANEEL CHAKRABORTY, University of Miami
Room 104 

Outraged by Compensation: Implications for Public Pension Performance

Paulo Martins Manoel, Adair Morse, Alexander Dyck

Haas School of Business, University of California Berkeley, United States of America

Discussant: Nitish Kumar (University of Florida)

Martins Manoel-Outraged by Compensation-997.pdf

Coordinated Engagements

Elroy Dimson1, Oğuzhan Karakaş1, Xi Li2

1Cambridge Judge Business School, United Kingdom; 2London School of Economics and Political Science

Discussant: Andrew MacKinlay (Virginia Tech)

Dimson-Coordinated Engagements-991.pdf

Management (Of) Proposals

Ilona Babenko2, Goeun Choi2, Rik S Sen1

1UNSW, Australia; 2Arizona State University

Discussant: Naveen Daniel (Drexel University)

Babenko-Management (Of) Proposals-655.pdf
3:30pm - 5:45pm1.2: Collateral : Theory and Evidence
Session Chair: Arnoud Boot, university of amsterdam
Room 104 

Repo Collateral and Counterparty Risks: Theory and Evidence

Li-Ting Chiu1, Sheen Liu2, Chunchi Wu1

1SUNY-BUFFALO, United States of America; 2Washington State University

Discussant: Tanju Yorulmazer (University of Amsterdam)

Chiu-Repo Collateral and Counterparty Risks-541.pdf

Collateral and Asymmetric Information in Lending Markets

Vasso Ioannidou1, Nicola Pavanini2, Yushi Peng3

1Lancaster University, United Kingdom; 2Tilburg University, The Netherlands; 3University of Zürich, Switzerland

Discussant: Florian Heider (European Central Bank)

Ioannidou-Collateral and Asymmetric Information in Lending Markets-806.pdf

Conflicting Priorities: A Theory of Covenants and Collateral

Jason Roderick Donaldson1, Denis Gromb2, Giorgia Piacentino3

1Washington University in St Louis; 2HEC Paris; 3Columbia University, United States of America

Discussant: Charles M. Kahn (University of Illinois)

Donaldson-Conflicting Priorities-629.pdf

Asset Encumbrance and Bank Risk: Theory and First Evidence from Public Disclosures in Europe

Albert Banal-Estanol1, Enrique Benito2, Dmitry Khametshin3, Jianxing Wei4

1Universitat Pompeu Fabra, Spain; 2City University of London, UK; 3Banco de España, Spain; 4University of International Business and Economics

Discussant: Yuliyan Mitkov (University of Bonn)

Banal-Estanol-Asset Encumbrance and Bank Risk-795.pdf
Date: Wednesday, 29/May/2019
8:30am - 10:15am2.6: Corporate Governance 2
Session Chair: Charlie Hadlock, Michigan State Unversity
Room 104 

The Limits of Limited Liability: Evidence from Industrial Pollution

Pat Akey1, Ian Appel2

1University of Toronto, Canada; 2Boston College

Discussant: Christoph Herpfer (Emory)

Akey-The Limits of Limited Liability-282.pdf

Investment Bank Governance And Client Relationships

William Wilhelm1, Alan Morrison2, Zhaohui Chen1, Xin Xue1

1University of Virginia, United States of America; 2University of Oxford, United Kingdom

Discussant: Parth Venkat (Securities and Exchange Commission)

Wilhelm-Investment Bank Governance And Client Relationships-920.pdf

Investors' Attention to Corporate Governance

Peter Iliev1, Jonathan Kalodimos2, Michelle Lowry3

1Penn State U, United States of America; 2Oregon State University, United States of America; 3Drexel University, United States of America

Discussant: Fabrizio Ferri (Miami Business School)

Iliev-Investors Attention to Corporate Governance-369.pdf
10:30am - 12:15pm4.4: Corporate Governance 3
Session Chair: Anil Shivdasani, University of North Carolina
Room 104 

Designing M&A Selling Mechanisms: Go-Shop Negotiations

Zhe Wang

Penn State University, United States of America

Discussant: Jesse Eugene Davis (University of North Carolina - Chapel Hill)

Wang-Designing M&A Selling Mechanisms-137.pdf

Congruence in Governance: Evidence from Creditor Monitoring of Corporate Acquisitions

Greg Nini, David Becher, Tom Grifin

Drexel University, United States of America

Discussant: Justin Murfin (CORNELL)

Nini-Congruence in Governance-888.pdf

The Role of Public Pension Funds in Corporate Governance: Evidence from Proxy Voting

Ying Duan1, Yawen Jiao2, Kinsun Tam3

1Simon Fraser University, Canada; 2University of California, Riverside; 3the State University of New York at Albany

Discussant: Enrichetta Ravina (Kellogg School of Management)

Duan-The Role of Public Pension Funds in Corporate Governance-247.pdf
2:00pm - 4:15pm3.2: Security Design 1
Session Chair: Giorgia Piacentino, Columbia University
Room 104 

Robust Security Design

Seokwoo Lee2, Uday Rajan1

1University of Michigan, United States of America; 2George Mason University, USA

Discussant: Yiran Zhu (Wharton School, University of Pennsylvania)

Lee-Robust Security Design-852.pdf

Time Inconsistency and Financial Covenants

Haotian Xiang

The Wharton School, United States of America

Discussant: Zhiguo He (University of Chicago)

Xiang-Time Inconsistency and Financial Covenants-498.pdf

To Pool or Not to Pool: Security Design in OTC Markets

Vincent Glode, Christian Opp, Ruslan Sverchkov

Wharton, United States of America

Discussant: Basil Williams (New York University)

Glode-To Pool or Not to Pool-274.pdf

Collusion with Public and Private Ownership and Innovation

Arnoud Boot, Vladimir Vladimirov

university of amsterdam

Discussant: Doron Levit (Wharton)

Boot-Collusion with Public and Private Ownership and Innovation-1121.pdf
Date: Thursday, 30/May/2019
8:30am - 10:15am6.6: Corporate Governance 4
Session Chair: Simon Gervais, Duke University
Room 104 

Peer Effects in Corporate Governance Practices: Evidence from Universal Demand Laws

Vinh Nguyen1, Pouyan Foroughi2, Alan Marcus3, Hassan Tehranian4

1The University of Hong Kong, Faculty of Business & Economics; 2The University of New South Wales, School of Banking and Finance; 3Boston College, Carroll School of Management, Boston College; 4Boston College, Carroll School of Management, Boston College

Discussant: Lalitha Naveen (Temple University)

Nguyen-Peer Effects in Corporate Governance Practices-714.pdf

Adapting to Radical Change: The Benefits of Short-Horizon Investors

Mariassunta Giannetti1, Xiaoyun Yu2

1Stockholm School of Economics; 2Indiana University, United States of America

Discussant: Vyacheslav Fos (Boston College)

Giannetti-Adapting to Radical Change-158.pdf

Are CEOs Paid Extra For Riskier Pay Packages?

Ana Albuquerque1, Rui Albuquerque2, Mary Ellen Carter3, Flora Dong4

1Boston University; 2Boston College, United States of America; 3Boston College, United States of America; 4Penn State University

Discussant: Eitan Goldman (Indiana University)

Albuquerque-Are CEOs Paid Extra For Riskier Pay Packages-335.pdf
10:30am - 12:15pm8.5: Monetary Policy
Session Chair: Merih Sevilir, Indiana University
Room 104 

Negative Monetary Policy Rates and Systemic Banks' Risk-Taking: Evidence from the Euro Area Administrative Securities Register

Angela Maddaloni1, Johannes Bubeck2, José-Luis Peydró3

1European Central Bank; 2University of Mannheim; 3ICREA-Universitat Pompeu Fabra, Imperial College, CREI, Barcelona GSE, CEPR

Discussant: Matteo Crosignani (University of Michigan)

Maddaloni-Negative Monetary Policy Rates and Systemic Banks Risk-Taking-726.pdf

The Costs and Benefits of Liquidity Regulations: Lessons from an Idle Monetary Policy Tool

John Kandrac, Christopher Curfman

Federal Reserve Board, United States of America

Discussant: W. Scott Frame (Federal Reserve Bank of Atlanta)

Kandrac-The Costs and Benefits of Liquidity Regulations-265.pdf

Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation

Yifei Wang2, Toni Whited2, Yufeng Wu3, Kairong Xiao1

1Columbia Business School, United States of America; 2University of Michigan; 3University of Illinois

Discussant: Brent Glover (Carnegie Mellon University)

Wang-Bank Market Power and Monetary Policy Transmission-1064.pdf
2:00pm - 4:15pm7.4: Household Leverage
Session Chair: Asaf Bernstein, University of Colorado at Boulder
Room 104 

Villains or Scapegoats? The Role of Subprime Borrowers in Driving the U.S. Housing Boom

James Conklin1, W. Scott Frame2, Kristopher Gerardi2, Haoyang Liu3

1University of Georgia; 2Federal Reserve Bank of Atlanta, United States of America; 3Federal Reserve Bank of New York, United States of America

Discussant: Gonzalo Maturana (Emory University)

Conklin-Villains or Scapegoats The Role of Subprime Borrowers-552.pdf

How Do Consumers Fare When Dealing with Debt Collectors? Evidence from Out-of-Court Settlements

Ing-Haw Cheng1, Felipe Severino1, Richard Townsend2

1Dartmouth College, United States of America; 2University of California San Diego

Discussant: Nathaniel Pattison (Southern Methodist University)

Cheng-How Do Consumers Fare When Dealing with Debt Collectors Evidence-884.pdf

Macroprudential Policy and Household Leverage: Micro-Evidence

Rustom Irani1, Sjoerd van Bekkum2, Marc Gabarro3, Jose-Luis Peydro4

1University of Illinois at Urbana-Champaign, United States of America; CEPR; 2Erasmus School of Economics; 3University of Mannheim; 4ICREA-Universitat Pompeu Fabra; CREI; Barcelona GSE; Imperial College London; CEPR

Discussant: Anthony Alden DeFusco (Northwestern University)

Irani-Macroprudential Policy and Household Leverage-927.pdf

Shale Shocked: The Long Run Effect of Income on Household Debt

J. Anthony Cookson3, Erik Gilje2, Rawley Heimer1

1Boston College; 2Wharton; 3University of Colorado at Boulder

Discussant: Matthew Plosser (Federal Reserve Bank of New York)

Cookson-Shale Shocked-534.pdf

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