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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.
SUMMER INSTITUTE 2014
Corporate Finance Workshop
Malcolm Baker and Gregor Matvos, Organizers
July 7-8, 2014
Ballroom A
Royal Sonesta Hotel
40 Edwin H. Land Boulevard
Cambridge, Massachusetts
PROGRAM
MONDAY, JULY 7:
9:30 am	Coffee and Pastries
	Taxes
10:00 am	Mara Faccio, Purdue University Jin Xu, Purdue University Taxes, Capital Structure Choices, and Firm Value Discussant: John Graham, Duke University and NBER
10:50 am	Michael Faulkender, University of Maryland Jason Smith, Utah State University Taxes and Leverage at Multinational Corporations Discussant: Fritz Foley. Harvard University and NBER
11:40 am	Lunch
	Investment
1:00 pm	Heitor Almeida, University of Illinois at Urbana-Champaign and NBER Igor Cunha, Nova School of Business and Economics Miguel Ferreira, Nova School of Business and Economics Felipe Restrepo, Boston College The Real Effects of Credit Ratings: The Sovereign Ceiling Channel Discussant: Victoria Ivashina, Harvard University and NBER
1:50 pm	Oliver G. Spalt, Tilburg University Alberto Manconi, Tilburg University Elisabeth Kempf, Tilburg University Distracted Shareholders and Corporate Actions Discussant: Randy Cohen, Harvard University
2:40 pm	Break
	Public Policy
3:00 pm	Sheridan Titman, University of Texas, Austin and NBER Johan Sulaeman, Southern Methodist University Christopher A. Parsons, University of California at San Diego Peer Effects and Corporate Corruption Discussant: Ray Fisman, Columbia University and NBER
3:50 pm	Samuel Hanson, Harvard University and NBER David S. Scharfstein, Harvard University and NBER Ai Sunderam, Harvard University Fiscal Risk and the Portfolio of Government Programs Discussant: Thomas Philippon, New York University and NBER
4:40 pm	Adjourn
6:00 pm	Group Dinner – Royal Sonesta Hotel, Ballroom B
TUESDAY, JULY 8:
8:30 am	Coffee and Pastries
	Household Finance
9:00 am	Eduardo Davila, Harvard University Using Elasticities to Derive Optimal Bankruptcy Policies Discussant: Itay Goldstein, University of Pennsylvania
9:50 am	Bilal Zia, The World Bank Gunhild Berg, The World Bank Mainstreaming Finance: Financial Education through Entertainment Media Discussant: Brigitte Madrian, Harvard University and NBER
10:40 am	Johan Hombert, HEC Paris Antoinette Schoar, Massachusetts Institute of Technology and NBER David Sraer, Princeton University and NBER David Thesmar, HEC Paris Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence from France Discussant: Toby Moskowitz, University of Chicago and NBER
11:30 am	Lunch
	Financial Institutions (Joint with the Risks of Financial Institutions Working Group)
12:30 pm	Milton Harris, University of Chicago Christian C. Opp, University of Pennsylvania Marcus Opp, University of California at Berkeley Macroprudential Bank Capital Regulation in a Competitive Financial System Discussant: Jeremy Stein, Federal Reserve Board of Governors
1:20 pm	Markus Behn, Bonn Graduate School of Economics Rainer Haselmann, Bonn Graduate School of Economics Vikrant Vig, London Business School The Limits of Model Based Regulation Discussant: Johannes Stroebel, New York University
2:10 pm	Break
2:30 pm	Ralph Koijen, London Business School Motohiro Yogo, Federal Reserve Bank of Minneapolis Shadow Insurance Discussant: Andrew Metrick, Yale University and NBER
3:20 pm	Oliver D. Hart, Harvard University and NBER Luigi Zingales, University of Chicago and NBER Banks Are Where The Liquidity Is Discussant: Rene Stulz, Ohio State University and NBER
4:10 pm	Adjourn