NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

SUMMER INSTITUTE 2006

Corporate Finance

Dirk Jenter and Raymond Fisman, Organizers

August 1 and 2, 2006

Royal Sonesta Hotel

Charles AB & Parkview Room

40 Edwin H. Land Boulevard

Cambridge, Massachusetts

PROGRAM

MONDAY, JULY 31:
6:00 pm	Clambake, Harvard Faculty Club, 20 Quincy Street, Cambridge, MA
TUESDAY, AUGUST 1:
8:00 am	Coffee and Pastries
8:30 am	JOSHUA RAUH, University of Chicago and NBER
	Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans
	Discussant: MICHAEL WEISBACH, University of Illinois and NBER
9:30 am	Break
9:45 am	MIHIR DESAI and C. FRITZ FOLEY, Harvard University and NBER
	JAMES HINES, University of Michigan and NBER
	Capital Structure with Risky Foreign Investment
	Discussant: SIMON JOHNSON, MIT and NBER
10:45 am	AMIR SUFI, University of Chicago
	The Real Effects of Debt Certification: Evidence from the Introduction of Bank Loan Ratings
	Discussant: MITCHELL PETERSEN, Northwestern University and NBER
11:45 am	Lunch
1:00 pm	JOSE LIBERTI, London Business School
	ATIF MIAN, University of Chicago and NBER
	Estimating the Effect of Hierarchies on Information Use
	Discussant: JEREMY STEIN, Harvard University and NBER
2:00 pm	Break
2:15 pm	HENRIK CRONQVIST and RUEDIGER FAHLENBRACH, Ohio State University
	Large Shareholders and Corporate Policies
	Discussant: ANTOINETTE SCHOAR, MIT and NBER
3:15 pm	HOLGER MUELLER, New York University
	THOMAS PHILIPPON, New York University and NBER
	Concentrated Ownership and Labor Relations
	Discussant: RANDALL MORCK, University of Alberta and NBER
4:15 pm	Adjourn
WEDNESDAY, AUGUST 2:
8:00 am	Coffee and Pastries
8:30 am	ANTOINETTE SCHOAR, MIT and NBER
	Judge-Specific Effects in Ch.11 and Firm Outcomes
	Discussant: IVO WELCH, Brown University and NBER
9:30 am	Break
9:45 am	KENNETH AYOTTE and STAV GAON, Columbia University
	Asset-Backed Securities: Costs and Benefits of ‘Bankruptcy Remoteness’
	Discussant: DAVID SCHARFSTEIN, Harvard University and NBER
10:45 am	ANDREA EISFELDT, Northwestern University
	ADRIANO RAMPINI, Duke University
	Leasing, Ability to Repossess, and Debt Capacity
	Discussant: MURILLO CAMPELLO, University of Illinois and NBER
11:45 am	Lunch
1:00 pm	HEITOR ALMEIDA and THOMAS PHILIPPON,
	New York University and NBER
	The Risk-Adjusted Cost of Financial Distress
	Discussant: VIRAL ACHARYA, London Business School
2:00 pm	Break
2:15 pm	ALON BRAV, Duke University
	RONI MICHAELY, Cornell University
	MICHAEL ROBERTS, University of Pennsylvania
	REBECCA ZARUTSKIE, Duke University
	Evidence on the Tradeoff between Risk and Return for IPO and SEO Firms
	Discussant: MALCOLM BAKER, Harvard University and NBER
3:15 pm	Adjourn
6/5/06