March 26, 2010
Villanova University, Villanova School of Business,
800 Lancaster Ave., Villanova, PA 19085
Bartley Hall, Room 1011 (Auditorium)
SUMMARY OF CONFERENCE PROGRAM
LINK TO ON-LINE REGISTRATION
LODGING & DIRECTIONS
Villanova Conference Center
DIRECTIONS to VILLANOVA UNIVERSITY
CONFERENCE SCHEDULE and PAPERS:
8:15 Registration and Coffee Session
8:40 Opening Remarks
8:45 Deanís Welcome and Remarks
9:00 Market Microstructure Session: Chair: Michael Pagano, Villanova U.
Market Crashes and Institutional Trading: Evidence from U.S. Equities during the financial crisis of 2007-2008
Amber Anand, Syracuse U., Paul Irvine, U. of Georgia,
Andy Puckett, U. of Tennessee, and Kumar Venkataraman, Southern Methodist U.
Discussant: George Aragon, Arizona State U. / Securities and Exchange Commission
A Match in the Dark: Understanding Crossing Network Liquidity
Sugata Ray, U. of Florida
Discussant: Mao Ye, Cornell U.
Liquidity, Ownership, and the Firm Monitoring Life Cycle
Scott Bauguess, Securities and Exchange Commission
Discussant: Paul Brockman, Lehigh U.
10:30 Coffee Break
10:45 Financial Institutions Session: Chair: Carlos Ramirez, George Mason U.
Non-Interest Income Diversification and Information Asymmetry of Bank Holding Companies
Elyas Elyasiani, Temple U., and Yong Wang, Temple U.
Discussant: Paul Kupiec, FDIC
Securitization and Mortgage Default: Reputation vs. Adverse Selection
Ronel Elul, Federal Reserve Bank of Philadelphia
Discussant: Indraneel Chakraborty, U. of Pennsylvania / Wharton
The Role of Banks in Dividend Policy
Linda Allen, Baruch College-CUNY, Aron Gottesman, Pace U.,
Anthony Saunders, New York U., and Yi Tang, Fordham U.
Discussant: David Becher, Drexel U.
12:15 Lunch and Keynote Speaker
"The Future of Financial Reforms"
Related Articles by Prof. Acharya: Critical Review paper Brookings Institute paper
Viral Acharya, New York University
1:30 Corporate Finance Session: Chair: Lalitha Naveen, Temple U.
Shareholder Activism and CEO Pay
Yonca Ertimur, Duke U., Fabrizio Ferri, Harvard Business School, and
Volkan Muslu, U. of Texas at Dallas
Discussant: Alexei Ovtchinnikov, Vanderbilt U.
Why do CEO retirement policies affect firm value?
Murali Jagannathan, Binghamton U., and Y.C. Loon, Binghamton U.
Discussant: Lalitha Naveen, Temple U.
Cash Flow and Product Market Competition: An Empirical Analysis
Tilan Tang, Clemson U.
Discussant: Jan Sokolowsky, U. of Michigan
3:00 Coffee Break
3:15 Investments Session: Chair: Nikunj Kapdia, U. of Massachusetts
Equity Risk and Treasury Bond Pricing
Naresh Bansal, St. Louis U., Robert Connolly, U. of North Carolina, Chapel Hill, and Chris Stivers, U. of Georgia
Discussant: Matthew Pritsker, Federal Reserve Board
Analyst Disagreement and Aggregate Volatility Risk
Alexander Barinov, U. of Georgia
Discussant: Yi Tang, Fordham U.
Stock Return Predictability in Volatility Time
Stefan Jacewitz, FDIC, and Joon Y. Park, Texas A&M / Indiana U.
Discussant: Oleg Rytchkov, Temple U.
4:45 Wine & Beer Reception