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14th Annual Meeting Program Hosted by the Department of Finance and the Doctoral Student Association of the George Washington School of Business April 18, 2008 The George Washington University School of Business; Funger/Duques Hall; 2201 G. Street, NW, Washington, DC 20052 IMPORTANT:The building is on the corner of the G. Street and the 22 Street. The entrance is on the 22nd Street.
Cofee, tea 9:30-10:00, Funger-Duques Hall 520 Session I: Asset Pricing and Portfolio Alocation Organizer: Matthew Pritsker, The Federal Reserve Board; Chair: Matthew Pritsker, The Federal Reserve Board 10:00-12:00, room: Funger-Duques Hall 520 Asset Pricing with Heterogeneous Consumers: When the data has yet to meet a theory it likes, Presenter: Olesya Grishchenko, Smeal College of Business, Penn State University Discussant: Lukasz Pomoroski, University of Toronto What does the cross-section tell about itself? An asset pricing model with cross-sectional moments, Presenter: Paulo Maio, Bilkent University Discussant: George Korniotis, Federal Reserve Board Monetary policy and the cross-section of stock returns: Small versus large and value versus growth, Presenter: Paulo Maio, Bilkent University Discussant: Clara Vega, Federal Reserve Board The Evolution of Aggregate Stock Ownership: A Unified Explanation, Presenter: Joshua Spizman, Binghamton University Discussant: Andrei Kirilenko, International Monetary Fund Session II: Agency Problems and Corporate Governance Organizer: Meghana Ayyagari, George Washington University; Chair: Meghana Ayyagari, George Washington University 10:00-12:00, room: Funger-Duques Hall 357 The Relation between Corporate Governance and Credit Risk, Bond Yields and Firm Valuation , Presenter: Dong Chen, Duke University Discussant: Ugur Lel, Federal Reserve Board Unbundling and Measuring Tunneling, Presenter: Vladimir Atanasov, College of William and Mary Discussant: Thorsten Beck, The World Bank Discounting the Discount: Diversification and Growth Rate Uncertainty, Presenter: Donald Monk, Tulane University Discussant: Protiti Dastidar, George Washington University Session III: Compensation Organizer: Kathleen Hanley, U.S. Securities and Exchange Commission; Chair: Joshua White, University of Illinois 10:00-12:00, room: Funger-Duques Hall 356 Using Executive Stock Options to Pay Top Management, Presenter: Douglas Blackburn, Indiana University Discussant: Konstantinos Tzioumis, London School of Economics Managerial Incentives and Union Presence, Presenter: Konstantinos Tzioumis, London School of Economics Discussant: Lukas Roth, Pennsylvania State University Solving the executive compensation problem through shareholder votes? Evidence from the U.K., Presenter: David Maber, Harvard Business School Discussant: Joshua White, University of Illinois What Drives Financial Analyst Compensation?, Presenter: David Maber, Harvard Business School Discussant: Kimberly Rodgers, American University Session IV: Consumer Finance, Law and Microstructure Organizer: Frank Nothaft, Freddie Mac; Chair: Frank Nothaft, Freddie Mac 10:00-12:00, room: Funger-Duques Hall 320 A Theory on the Risk-Taking Behavior of Microfinance Borrowers, Creditor Rights, and Social Capital, Presenter: Michael Padhi, University of Maryland Discussant: Nela Richardson, Freddie Mac BANKS AND THE BANKRUPTCY REFORM ACT OF 1978 : A STUDY OF MORAL HAZARD BEHAVIOR, Presenter: Vasanthakumar Bhat, Lubin School of Business, Pace University Discussant: Gregory Elliehausen, George Washington University Zero Down Payment Mortgage Default, Presenter: Austin Kelly, OFHEO Discussant: Charles Capone, US Dept. of HUD Checking account information and credit risk of bank customers, Presenter: Lars Norden, University of Mannheim, visiting Indiana University Discussant: Frank Nothaft, Freddie Mac Session V: Financial Institutions Organizer: Jonathan Jones, Office of Thrift Supervision; Chair: Jonathan Jones, Office of Thrift Supervision 10:00-12:00, room: Funger-Duques Hall 420 The SubPrime Market Crisis, Structured Products in the Securities Credit Markets, and Hedge Funds, Presenter: Rose Troia, CFTC Discussant: Robert Dunsky, Office of Federal Housing Enterprise Oversight Does Bank Fragility Affect Long-Run Growth? U.S. Evidence from the "Perfect" Panic of 1893, Presenter: Carlos Ramírez, George Mason University Discussant: Sean Campbell, Federal Reserve Board What drives (the decline of) bank interest rate margins in Central and Eastern Europe?, Presenter: Markus Schwaiger, Austrian Central Bank Discussant: Pete Domasky, Office of Thrift Supervision Financial Performance and Stability in Private versus Newly-public Banks, Presenter: Morgan Rose, University of Maryland-Baltimore County Discussant: Tom Day, Office of Thrift Supervision Lunch and Keynote Address: Current Trends and Research in Derivatives by Jeff Harris, Chief Economist, The Commodity Futures Trading Commission 12:15-1:45, room: Funger-Duques Hall 453 Session VI: Mutual Funds Organizer: Stewart Mayhew, U.S. Securities and Exchange Commission; Chair: Stewart Mayhew, U.S. Securities and Exchange Commission 2:00-4:00, room: Funger-Duques Hall 356 Dynamic Liquidity Preferences of Mutual Funds, Presenter: Jiekun Huang, Carroll School of Management, Boston College Discussant: Stewart Mayhew, SEC Portfolio Optimization under Tracking Error and Weights Constraints, Presenter: Isabelle Bajeux-Besnainou, The George Washington University Discussant: Joshua White, University of Illinois and SEC Value of centralized research in mutual fund management companies, Presenter: Lukasz Pomorski, University of Toronto Discussant: David Cicero, University of Delaware The Rise and Fall of Portfolio Pumping Among U.S. Mutual Funds, Presenter: Felix Meschke, University of Minnesota Discussant: Sean Collins, Investment Company Institute Session VII: Market Anomalies and Behavioral Finance Organizer: Marco Cipriani, International Monetary Fund; Chair: Marco Cipriani, International Monetary Fund 2:00-4:00, room: Funger-Duques Hall 357 The Effect of Prior Beliefs and Preferences on Information Processing in an Investment Experiment , Presenter: K. Jeremy Ko, Pennsylvania State University Discussant: Maria Pia Paganelli, Yeshiva University Riding Bubbles, Presenter: Erik Kole, Erasmus University Rotterdam Discussant: Robert Flood, IMF Equity Premium Predictions by Adaptive Macro Indices, Presenter: Jennie Bai, University of Chicago, GSB Discussant: Mario Catalan, IMF Session VIII: Other Corporate Finance Organizer: Jennifer Marietta-Westberg, U.S. Securities and Exchange Commission; Chair: Jennifer Marietta-Westberg, U.S. Securities and Exchange Commission 2:00-4:00, room: Funger-Duques Hall 320 The Monitoring and Advisory Functions of Corporate Boards: Theory and Evidence, Presenter: Dong Chen, Duke University Discussant: Scott Bauguess, U.S. Securities and Exchange Commission and Texas Tech University Financial Reforms, Financial Openness, and Corporate Borrowing: International Evidence, Presenter: Senay Agca, George Washington University Discussant: Michael Padhi, University of Maryland Short Selling in Initial Public Offerings, Presenter: Amy Edwards, SEC Discussant: Kristian Rydqvist, Binghamton University Corporate trading in own securities, Presenter: Lukas Roth, Penn State University Discussant: Jennifer Marietta-Westberg, U.S. Securities and Exchange Commission Session IX: Bond and Derivative Pricing Organizer: Patrick Dennis, University of Virginia; Chair: Patrick Dennis, University of Virginia 2:00-4:00, room: Funger-Duques Hall 520 Inflation Risk Premium: Evidence from the TIPS Market, Presenter: Olesya Grishchenko, Smeal College of Business, Penn State University Discussant: Abon Mozumdar, Virginia Tech Skewness and Co-skewness in Bond Returns, Presenter: I-Hsuan Ethan Chiang, Boston College Discussant: Karl Snow, Bates-White Component-Driven Regime-Switching Volatility, Presenter: Chris Kirby, John E. Walker Department of Economics, Clemson University Discussant: Richard Munclinger, George Washington University On the bounds of option prices and embedded risk-premium parameters., Presenter: Serguey Khovansky, University of Virginia Discussant: George Panayotov, Georgetown University Session X: The Role of Financial Institutions Organizer: Stanislava Nikolova, George Mason University; Chair: Stanislava Nikolova, George Mason University 2:00-4:00, room: Funger-Duques Hall 420 The relation between borrower risk and loan maturity in small business lending, Presenter: Lars Norden, University of Mannheim, visiting Indiana University Discussant: Claire Cici, FDIC Information Sharing Arrangements in the Credit Industry: Winners and Losers, Presenter: Artashes Karapetyan, Swiss Banking Institute, University of Zurich Discussant: Lamont Black, Federal Reserve Board Accounting Scandals in IPO Firms: Do Underwriters and VCs Help?, Presenter: Tommy Cooper, University of Alabama Discussant: Alexander Philipov, GMU When Bad Stocks Make Good Investments: The Role of Hedge Funds in Leverage Buyouts, Presenter: Jiekun Huang, Carroll School of Management, Boston College Discussant: Christof Stahel, GMU |