Corporate Finance 2011

Duke/UNC Corporate Finance Conference Program

March 10-11, Fuqua School of Business, Duke University

Thursday, March 10, 2011

5:00PM Cocktail Reception, location Kirby Winter Garden

6:00PM  Joint Dinner with Duke/Kauffman Entrepreneurship Conference
Keynote Speaker: Andrew Metrick, Yale University
Location: Faculty Hall, Fuqua School of Business

Friday, March 11, 2011

SESSIONS:  Dansby Classroom, Fuqua School of Business
REGISTRATION: Breeden Hall Mallway, outside of Dansby Classroom

Session 1:  Agency and Trade
Session Chair: Naveen Khanna (Michigan State University)

8:30 – 9:10  Agency Conflicts and Cash: Estimates from a Structural Model
Boris Nikolov (University of Rochester) and Toni Whited (University of Rochester)
Discussant: Hui Chen (MIT)

9:10 – 9:50  Poultry in Motion: A Study of International Trade Finance Practices
Pol Antras (Harvard University) and Fritz Foley (Harvard Business School)
Discussant: Mitchell Petersen (Northwestern University)

9:50 – 10:30  Smart Buyers
Mike Burkart (Stockholm School of Economics and London School of Economics) and Samuel Lee (New York University)
Discussant: Uday Rajan (University of Michigan)

10:30 – 10:50 COFFEEBREAK

Session 2: Mergers and Acquisitions
Session Chair: Anil Shivdasani (UNC Chapel Hill)

10:50 – 11:30  R&D and the Market for Acquisitions
Gordon Phillips (University of Maryland) and Alexei Zhdanov (University of Lausanne and Swiss Finance Institute)
Discussant: Raj Singh (University of Minnesota)

11:30 – 12:10  CEO Preferences and Acquisitions
Dirk Jenter (Stanford University) and Katharina Lewellen (Dartmouth College)
Discussant: Rebecca Zarutskie (Duke University)

12:10 – 1:30 LUNCH – Faculty Hall, Fuqua School of Business

Session 3: Ratings and Regulation
Session Chair: Patrick Bolton (Columbia University)

1:30 – 2:10  Feedback Effects of Credit Ratings
Gustavo Manso (MIT)
Discussant:  Christian Opp (University of Pennsylvania)

2:10 – 2:50  Did Unconventional Interventions Unfreeze the Credit Market? Some International Evidence
Hui Tong (IMF) and Shang-Jin Wei (Columbia University)
Discussant: Pab Jotikasthira (UNC Chapel Hill)

2:50-3:10  COFFEE BREAK

Session 4: High End Labor Markets
Session Chair: Manju Puri (Duke University)

3:10-3:50  To Each According to His Ability? The Returns to CEO Talent
Antonio Falato (Federal Reserve Board), Dan Li (Federal Reserve Board), and Todd Milbourn (Washington University in St Louis)
Discussant: Carola Frydman (MIT)

3:50 – 4:30  Bankers and Regulators
Phillip Bond (University of Minnesota) and Vincent Glode (University of Pennsylvania)
Discussant: Robert Marquez (Boston University)