Programme
TUESDAY, 14 JULY 09
Registration 8:15am
Welcome Remarks 8:45 – 9:00am
Patron, Saw Centre
Bernard Yeung
Dean and Stephen Riady Distinguished Professor
NUS Business School
Keynote Speech 9:00 – 10:00am
“The Transition to Clean Energy: Real Options, Innovation and Venture Capital”
Sheridan Titman
Walter W. McAllister Centennial Chair
in Financial Services
Professor, Department of Finance (University of Texas)
Coffee break 10:00 – 10:30am
Session I: Corporate Governance
Chair:Professor Thomas Noe (Oxford University)
Paper 1: 10:30 – 11:15am
“Hiring Cheerleaders: Board Appointments of 'Independent' Directors”
Lauren Cohen* (Harvard Business School)
Andrea Frazzini (University of Chicago)
Christopher Malloy (Harvard Business School)
Discussant
Sugato Bhattarcharyya (University of Michigan)
Paper 2: 11:15 – 12:00noon
“Paying for risk, keeping up with the Joneses, or shareholder rip-off? An analysis ofex-ante severance pay contracts”
P. Raghavendra Rau* (University of California at Berkeley and Purdue University)
Jin Xu (Purdue University)
Discussant
Peter Swan (University of New South Wales)
Session II: Asset Pricing
Chair: Allaudeen Hameed (NUS Business School)
Paper 3: 2:00 – 2:45pm
“An Anatomy of Pairs Trading: The Role of Idiosyncratic News, Common Information and Liquidity”
Joseph Engelberg (University of North Carolina)
Pengjie Gao* (University of Notre Dame)
Ravi Jagannathan (Northwestern University and NBER)
Discussant
Hong Zhang (INSEAD)
Paper 4: 2:45 – 3:30pm
“Cross-Sectional Asset Pricing Puzzles: An Equilibrium Perspective”
Doron Avramov (University of Maryland)
Scott Cederburg* (University of Iowa)
Satadru Hore (University of Iowa)
Discussant
Weina Zhang (NUS Business School)
Paper 5: 3:30 – 4:15pm
"Heterogeneous Background Risks, Portfolio Choice, and Asset Returns: Evidence from Micro-Level Data"
Darius Palia (Rutgers Business School)
Yaxuan Qi* (Concordia University)
Yangru Wu (Rutgers Business School)
Discussant
Evgeny Lyandres (Boston University School of Management)
Coffee break (End) 4:15 – 4:45pm
WEDNESDAY, 15 July 2009
Registration 8:30am
Session III: Banking and Crisis
Chair: Jun-Koo Kang (Nayang Technological University)
Paper 6: 9:00 – 9:45am
“Financial System Architecture and the Co-Evolution of Banks and Capital Markets”
Fenghua Song* (Pennsylvania State University)
Anjan V. Thakor (Washington University)
Discussant
Philip H. Dybvig (Washington University)
Paper 7: 9:45 – 10:30am
“Option Value of Cash”
Jialin Yu* (Colombia University)
Discussant
Wenlan Qian (NUS Business School)
Coffee break 10:30 – 11:00am
Session IV: Institutional Trading
Chair: Mitchell Craig Warachka (Singapore Management University)
Paper 8: 11:00 – 11:45am
“Strategy Distinctiveness and Hedge Fund Performance”
Zheng Sun (University of California, Irvine)
Ashley Wang* (University of California, Irvine)
Lu Zheng (University of California, Irvine)
Discussant
Clemens Sialm (University of Texas, Austin)
Paper 9: 11:45 – 12:30pm
“Short-Term Institutional Herding and its Impact on Stock Prices”
Andy Puckett (University of Missouri)
Xuemin (Sterling) Yan* (University of Missouri)
Discussant
Kalok Chan (Hong Kong University of Science and Technology)
Session V: Corporate Finance
Chair: Takeshi Yamada (NUS Business School)
Paper 10: 2.30 – 3.15pm
“Political Uncertainty and Corporate Investment Cycles”
Brandon Julio (London Business School)
Youngsuk Yook* (Sungkyunkwan University)
Discussant
Meijun Qian (NUS Business School)
Paper 11: 3:15 – 4:00pm
“Survival of the Fittest? Financial and Economic Distress and Restructuring Outcomes in Chapter 11”
Michael Lemmon* (University of Utah)
Yung-Yu Ma (University of Utah)
Elizabeth Tashjian (University of Utah)
Discussant
Micah S Officer (Loyola Marymount University)
Farewell Coffee 4:00 – 4:30pm
*Paper Presenter