Conference on Corporate Governance and Executive Compensation 

Organizers: 

Lorán Chollete and Lin Peng

Sponsors: 
Finansmarkedsfondet (Research Council of Norway);
Baruch College, City University of New York

Dates: April 9-10, 2015

Location:

William and Anita Newman Conference Center, Room 750
151 East 25th Street
Baruch College
New York, NY 10010

Background:

Since the late 1990s, corporate governance and CEO compensation design have attracted widespread attention from general public, media, and policy makers. Misaligned incentives have been viewed as a central contributor to the spate of corporate scandals exemplified by WorldCom and Enron, the exponential increase in accounting restatements in the 1990s, as well as the 2007-2009 financial crises. Moreover, CEO salaries are debated as contributing to wealth inequality in much of the global economy.

This conference is motivated by two issues. First, it is related to understanding optimal contract design and the consequences of misaligned incentives. Second, it concerns outstanding challenges in corporate finance research, related to endogeneity and identification problems. The goal of this conference is to bring together a critical mass of top level international researchers to present and discuss cutting edge topics in corporate governance and executive compensation. 

Day 1 (4/9). Lectures

·       9:00-9:20 Registration. Coffee and light breakfast


·       9:20-9:30 Welcome Speech

Fenwick Huss, Willem Kooyker Dean of the Zicklin School of Business, Baruch College


·       9:30-12:00pm 

Session Chair: Armen Hovakimian, Professor and Chair, Department of Economics and Finance, Baruch College


Corporate Governance and Risk (Paper)

Kose John, Charles William Gerstenberg Professor of Banking and Finance, New York University

 

Compensation Benchmarking (Paper)

Darius Palia, Thomas A. Renyi Chair in Banking, Rutgers University

 

·       12:00pm - 1:00pm Lunch


·       1:00pm-3:30pm

Session Chair: Lorán Chollete, UiS Business School

 

Donor Governance and Risk Management in Prominent U.S. Art Museums (Paper)

David Yermack, Albert Fingerhut Professor of Finance and Business Transformation, New York University

 

Do Board Gender Quotas Reduce Firm value? (Paper)

Espen Eckbo (joint with Karin S. Thorburn and Knut Nygaard), Tuck Centennial Chair in Finance, Dartmouth College

 

·       3:30pm-3:45 Coffee break

 

·       3:45pm-5:00pm

Session Chair: Lin Peng, Professor, Baruch College

 

CEO Incentives: Measurement, Determinants, and Impact on Performance (Paper)

Ailsa Röell (joint with Lin Peng and Hongfei Tang), Professor of International and Public Affairs, Columbia University

 


Day 2 (4/10). Workshop

 

·       8:30-9:00 Coffee and light breakfast

 

·       9:00-11:00

Endogeneity Issues in Corporate Finance (Slides)

Toni Whited, Michael and Diane Jones Professor of Business Administration, University of Rochester

 

·       11:00-11:15 Coffee break

 

·       11:15-1:15pm

            A Theory of Liquidity and Risk Management Based on the Inalienability of Risky Human Capital (Paper)

Patrick Bolton (joint with Neng Wang and Jinqiang Yang), President, American Finance Association; David Zalaznick Professor of Business, Columbia University

 

·       1:15pm-2:15 Lunch

 

·       2:15pm-4:15pm

Econometric Models for Matching Processes (Slides)

Christopher Flinn, Professor of Economics, New York University

 

·       4:15pm-5:15 Reception