2012 Program Archive

Session 1
Session Chair: Thomas Bates (ASU)

Endogenous Liquidity and Defaultable Debt
Zhiguo He (Chicago) and Konstantin Milbradt (MIT)
Discussant: Bruce Carlin (UCLA)

Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty
Hui Chen (MIT), Michael Michaux (USC), and Nikolai Roussanov (Penn)
Discussant: Rajnish Mehra (ASU)

Session II
Session Chair: George Aragon (ASU)

Revealing Shorts: An Examination of Large Short Position Disclosures
Charles Jones (Columbia), Adam Reed (UNC), and William Waller (UNC)
Discussant: Sunil Wahal (ASU)

Performance Measurement with Market and Volatility Timing and Selectivity
Wayne Ferson (USC) and Haitao Mo (USC)
Discussant: Murray Carlson (UBC)

Why Do Individuals Exhibit Investment Biases?
Henrik Cronqvist (Claremont McKenna) and Stephan Siegel (Washington)
Discussant: Michael Weisbach (Ohio State)

Session III
Session Chair: Michael Hertzel (ASU)

Executive Compensation and Horizon Incentives: An Empirical Investigation of Corporate Cash Payout
Sheng Huang (Singapore Management University)
Discussant: Jeffrey Coles (ASU)

Exploration for Human Capital: Theory and Evidence from the MBA Labor Market
Camelia Kuhnen (Northwestern) and Paul Oyer (Stanford)
Discussant: Kelly Shue (Chicago)

Session IV
Session Chair: Sreedhar Bharath (ASU)

Moral Hazard, Investment, and Firm Dynamics
Hengjie Ai (Duke) and Rui Li (Wisconsin)
Discussant: Zhiguo He (Chicago)

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd
Steven R. Grenadier (Stanford), Andrey Malenko (MIT), and Ilya Strebulaev (Stanford)
Discussant: Youchang Wu (University of Wisconsin-Madison)

Financing through Asset Sales
Alex Edmans (Penn) and William Mann (Penn)
Discussant: Ilona Babenko (ASU)

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