NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.

 

Universities Research Conference

 

Behavioral Corporate Finance

 

May 18 and 19, 2007

 

Malcolm Baker and Jeffrey Wurgler, Organizers

 

Royal Sonesta Hotel

40 Edwin H. Land Blvd.

Cambridge, MA

 

PRELIMINARY PROGRAM

 

FRIDAY, MAY 18:

 

 8:30 am          Continental Breakfast

 

 9:00 am          ROBIN GREENWOOD, Harvard University

Trading Restrictions and Stock Prices

 

Discussant: OWEN LAMONT, Yale University and NBER

 

10:00 am         SALIME CHAHINE, American University of Beirut

ALEXANDER LJUNGQVIST, New York University

RONI MICHAELY, Cornell University

Marketing Financial Claims (download not available)

 

Discussant: JAY RITTER, University of Florida

 

11:00 am         Break

 

11:15 am         NICHOLAS BARBERIS, Yale University and NBER

MING HUANG, Cornell University

Stocks as Lotteries: The Implications of Probability Weighting for Security Prices

 

TODD MITTON and KEITH VORKINK, Brigham Young University

Why Do Firms With Diversification Discounts Have Higher Expected Returns?

 

Discussant: ELI OFEK, New York University

 

12:45 pm         Lunch

 

 1:45 pm          DIRK JENTER, MIT and NBER

KATHARINA LEWELLEN, Dartmouth College

JEROLD WARNER, University of Rochester

Security Issue Timing: What Do Managers Know, and When Do They Know It?

 

Discussant: IVO WELCH, Brown University and NBER

 

 2:45 pm          Break

 

 3:00 pm          FRANCOIS DEGEORGE, University of Lugano

JAYENDU PATEL, Choicestream

RICHARD ZECKHAUSER, Harvard University and NBER

Earnings Thresholds and Market Responses (download not available)

 

Discussant: MARK BRADSHAW, Harvard University

 

 4:00 pm          RANDALL MORCK, University of Alberta and NBER

Behavioral Finance in Corporate Governance - Independent Directors and Non-Executive Chairs

 

Discussant: TERRY BURNHAM, Acadian Asset Management, Inc.

 

 5:00 pm          Adjourn

 

 6:00 pm          Group Dinner

                        Royal Sonesta Hotel

 

SATURDAY, MAY 19:

 

 8:30 am          Continental Breakfast

 

 9:00 am          SIMON GERVAIS, Duke University

ITAY GOLDSTEIN, University of Pennsylvania

The Positive Effects of Biased Self-Perceptions in Firms

 

Discussant: AUGUSTIN LANDIER, New York University

 

10:00 am         Break

 

10:15 am         ITZHAK BEN-DAVID, University of Chicago

JOHN GRAHAM and CAMPBELL HARVEY, Duke University and NBER

Managerial Overconfidence and Corporate Policies

           

Discussant: ULRIKE MALMENDIER, UC, Berkeley and NBER

 

11:15 am         STEVEN KAPLAN, University of Chicago and NBER

MARK KLEBANOV and MORTEN SORENSEN, University of Chicago

Which CEO Characteristics and Abilities Matter?

 

Discussant:  KENT WOMACK, Dartmouth College

 

12:15 pm         Adjourn

04/27/07