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
PRELIMINARY
PROGRAM
FRIDAY, MAY
18:
8:30 am
Continental Breakfast
9:00 am
ROBIN
Trading
Restrictions and Stock Prices
Discussant: OWEN LAMONT,
10:00
am
SALIME CHAHINE,
ALEXANDER LJUNGQVIST,
RONI MICHAELY,
Marketing Financial Claims
(download not
available)
Discussant: JAY RITTER,
11:00
am
Break
11:15
am
NICHOLAS BARBERIS,
MING HUANG,
Stocks as Lotteries:
The Implications of Probability Weighting for Security
Prices
TODD MITTON and KEITH VORKINK,
Why Do Firms With
Diversification Discounts Have Higher Expected
Returns?
Discussant: ELI OFEK,
12:45
pm
Lunch
1:45 pm
DIRK JENTER, MIT and NBER
KATHARINA LEWELLEN,
JEROLD WARNER,
Security Issue Timing:
What Do Managers Know, and When Do They Know It?
Discussant: IVO WELCH,
2:45 pm
Break
3:00 pm
FRANCOIS DEGEORGE,
JAYENDU PATEL, Choicestream
RICHARD ZECKHAUSER,
Earnings Thresholds and Market
Responses (download not
available)
Discussant: MARK BRADSHAW,
4:00 pm
RANDALL MORCK,
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,
ITAY GOLDSTEIN,
The Positive
Effects of Biased Self-Perceptions in Firms
Discussant: AUGUSTIN LANDIER,
10:00
am
Break
10:15
am
ITZHAK BEN-DAVID,
JOHN GRAHAM and CAMPBELL
Managerial
Overconfidence and Corporate Policies
Discussant: ULRIKE MALMENDIER, UC,
Berkeley and NBER
11:15
am
STEVEN KAPLAN,
MARK KLEBANOV and MORTEN SORENSEN,
Which CEO
Characteristics and Abilities Matter?
Discussant: KENT WOMACK,
12:15
pm
Adjourn
04/27/07