NATIONAL BUREAU OF ECONOMIC
RESEARCH, INC.
SUMMER INSTITUTE 2003
CORPORATE FINANCE
Judith Chevalier and Michael
Weisbach, Organizers
Royal Sonesta Hotel
5 Cambridge Parkway
Cambridge, Massachusetts
August 4 and 5, 2003
PRELIMINARY PROGRAM
MONDAY, AUGUST 4:
8:30 AM Coffee and
Pastries
9:00 AM SARA MOELLER, Southern Methodist
University
FREDERIK
SCHLINGEMANN, University of Pittsburgh
RENE
STULZ, Ohio State University and NBER
Wealth
Destruction on a Massive Scale:
A
Study of Acquiring-firm Returns in the Merger Wave of the 1990s
Discussant: HENRI SERVAES, London Business School
9:50 AM LUCIAN ARYE
BEBCHUK, Harvard University and NBER
JOHN
COATES IV and GUHAN SUBRAMANIAN, Harvard University
The
Power of Takeover Defenses
Discussant: JAMES BRICKLEY, University of Rochester
10:40 AM Break
11:10 AM ANDREA EISFELDT and ADRIANO RAMPINI, Northwestern University
Capital
Reallocation and Liquidity
Discussant: GARY GORTON, University of Pennsylvania and
NBER
12:00 N Lunch
1:00 PM 8 or 9 Quick Presentations. Each presentation is strictly limited
to
5 minutes (with a buzzer!) with up to five minutes for discussion.
The intent is to give brief
introductions of who is working on which topic, and to solicit possible
feedback, mostly after adjourning.
Please
send an email to weisbach@uiuc.edu if you want to present such a quickie.
First come, first served. If fewer than 8 requests arrive, there will
be a sign-up sheet in the morning.
3:00 PM JIE GAN,
Hong Kong University of Science and Technology
Collateral Channel and Cridit Cycle: Evidence from the Land-Price Collapse in
Japan
Discussant: TAKEO HOSHI, UC, San Diego and NBER
3:50 PM ALEXANDER
DYCK, Harvard University
LUIGI
ZINGALES, University of Chicago and NBER
Discussant: EDWARD GLAESER, Harvard University and NBER
4:40 PM Adjourn
6:00 PM Clambake,
Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
TUESDAY, AUGUST 5:
8:00 AM Coffee and
Pastries
9:00 AM MICHAEL
FAULKENDER, Washington University in St. Louis
MITCHELL
PETERSEN, Northwestern University and NBER
Does the Source of Capital affect
Capital Structure?
Discussant:
SHERIDAN TITMAN, University of Texas and NBER
9:50 AM AUGUSTIN
LANDIER, University of Chicago
DAVID
THESMAR, ENSAE and CREST
Financial
Contracting with Optimistic Entrepreneurs:
Theory and Evidence
Discussant:
ULRIKE MALMENDIER, Stanford University
10:40 AM Break
11:10 AM ESLYN JEAN-BAPTISTE and MICHAEL RIORDAN, Columbia University
Capital
Markets Constrain Industry Scale
Discussant: JUDITH CHEVALIER, Yale University and NBER
12:00 N Lunch
1:00 PM HEITOR
ALMEIDA, New York University
MURILLO
CAMPELLO, University of Illinois at Urbana-Champaign
Financial
Constraints, Asset Tangibility, and Corporate Investment
Discussant:
R. GLENN HUBBARD, Columbia University and NBER
1:50 PM Break
2:20 PM ALEXANDER
LJUNGQVIST, New York University
FELICIA
MARSTON and WILLIAM WILHELM, JR., University of Virginia
Competing
for Securities Underwriting Mandates:
Banking
Relationships and Analyst Recommendations
Discussant:
FRANCESCA CORNELLI, London Business School
3:10 PM HARRISON
HONG, Stanford University
JEREMY
C. STEIN, Harvard University and NBER
Simple
Forecasts and Paradigm Shifts
Discussant: GLENN ELLISON, MIT and NBER
4:00 PM Adjourn