3rd CAMBRIDGE CORPORATE FINANCE THEORY SYMPOSIUM
The symposium covers all areas of theoretical corporate finance, including theory papers that combine corporate finance theory with a related area such as banking, market micro-structure, asset pricing, and financial accounting.
16-17 SEPTEMBER 2016
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Friday, 16 September
12.00 - 13.00 Lunch Queens’ College
13.30-14.00 Arrival and registration Cambridge Judge
Business School
14.00 - 14.15 Welcome and Introduction
Bart Lambrecht (CJBS and CEPR)
Lecture theatre 2
Session 1 – chair: Bart Lambrecht
14.15 – 15.05 Integrating Profitability Prospects and Cash Management
Jean‐Paul Décamps (Toulouse School of Economics) and Stéphane
Villeneuve (Toulouse School of Economics)
Discussant: Francesca Zucchi (Board of Governors of the Federal
Reserve System)
Lecture theatre 2
15.05 - 15.55 Effectiveness of Monitoring, Managerial Entrenchment, and
Corporate Cash Holdings
Panagiotis Couzoff (University of Exeter), Shantanu Banerjee
(Lancaster University Management School), and Grzegorz Pawlina
(Lancaster University Management School)
Discussant: Roberto Steri (University of Lausanne)
Lecture theatre 2
15.55 – 16.15 Coffee break Reception, Ground
Floor
Session 2 – chair: Grzegorz Pawlina
16.15 - 17.05 Market-Specific Human Capital: Talent Mobility, Compensation,
and Shareholder Value
Neil Brisley (University of Waterloo)
Discussant: John Thanassoulis (Warwick Business School)
Lecture theatre 2
18.00 – 19.00 Punting, Granta Moorings (for Friday dinner guests only)
19.00 - 22.00 Conference Dinner (by invitation only) Queens’ College
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016 Saturday, 17 September
08.45 - 09.00 Coffee Common Room
Session 3 – chair: Günter Strobl
09.00 - 09.50 Governing Multiple Firms
Alex Edmans (London Business School), Doron Levit (University of
Pennsylvania), and Devin Reilly (University of Pennsylvania)
Discussant: Denis Gromb (HEC Paris)
Lecture theatre 3
09.50 – 10.40 Bank Regulation, CEO Compensation and Boards
Julian Kolm (Vienna University of Economics and Business), Christian
Laux (Vienna University of Economics and Business), and Gyöngyi
Lóránth (University of Vienna)
Discussant: Hendrik Hakenes (Bonn Graduate School of Economics)
Lecture theatre 3
10.40 – 11.10 Coffee and Group Photo Common Room
11.10 - 12.00 Keynote Speaker: Anjan Thakor (Washington University in St.
Louis)
Lecture theatre 3
Session 4 – chair: Qiusha Peng
12.00 – 12.50 Strategic Timing of IPO - A Dynamic Model of Multiple Firms
Cyrus Aghamolla (Columbia University) and Ilan Guttman (New York
University)
Discussant: Francesco Sangiorgi (Stockholm School of Economics)
Lecture theatre 3
12.50 – 14.00 Buffet Lunch Common Room
Session 5 – chair: Amil Dasgupta
14.00 – 14.50 Credit Ratings: Strategic Issuer Disclosure and Optimal Screening Jonathan Cohn (University of Texas, Austin), Uday Rajan (University of
Michigan), and Günter Strobl (Frankfurt School of Finance and
Management)
Discussant: Vasiliki Skreta (University College London)
Lecture theatre 3
14.50 – 15.40 Financing Choices When Investors Can Become
Dominant
Roman Inderst (University of Frankfurt) and Vladimir Vladimirov
(University of Amsterdam)
Discussant: Pierre Mella-Barral (EDHEC Business School)
Lecture theatre 3
15.40 – 16.00 Coffee Break Common Room
Session 6 – chair: Roberta Dessi
16.00 – 16.50 Disagreement in Optimal Security Design
Juan M. Ortner (Boston University) and Martin C. Schmalz (University of
Michigan)
Discussant: Ulf Axelson (London School of Economics)
Lecture theatre 3
19.00 Drinks and Dinner (by invitation only) Queens’ College
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Speakers, Discussants and Organizers
Ulf Axelson
London School of Economics
Neil Brisley
School of Accounting and Finance, University of Waterloo
Panagiotis Couzoff
University of Exeter
Jean‐Paul Décamps
Toulouse School of Economics
Ilan Guttman
Leonard N. Stern School of Business, New York University
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Denis Gromb
HEC Paris
Hendrik Hakenes
Bonn Graduate School of Economics
Bart Lambrecht
CERF, Cambridge Judge Business School
Doron Levit
Wharton School, University of Pennsylvania
Gyöngyi Lóránth
University of Vienna and Vienna Graduate School of Finance
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Nadya Malenko
Boston College, Carroll School of Management
Pierre Mella-Barral
EDHEC Business School
Francesco Sangiorgi
Stockholm School of Economics
Martin Schmalz
Ross School of Business, University of Michigan
Vasiliki Skreta
University College London
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Roberto Steri
University of Lausanne
Günter Strobl
Frankfurt School of Finance and Management
Anjan Thakor
Olin Business School, Washington University in St. Louis
John Thanassoulis
Warwick Business School
Vladimir Vladimirov
University of Amsterdam
3rd Cambridge Corporate Finance Theory Symposium 16-17 September 2016
Sponsor: Cambridge Endowment for Research in Finance (CERF). Organised in collaboration with
CEPR
Organizers: Bart Lambrecht (Cambridge Judge Business School and CEPR) and Nadya Malenko
(Boston College, Carroll School of Management)
Contact details – [email protected]
Francesca Zucchi
Board of Governors of the Federal Reserve System
