Finance, Organizations and Markets (FOM) Conference
Yale School of Management, Yale University
Evans Hall, 165 Whitney Avenue, New Haven, CT 06511
Oct 15 - 16, 2026
*** Notes for participants ***
Conference Location: Evans Hall Classroom TBD
Each paper has 45 minutes total: allocated as 25 min for presenters, 12 min for discussants, and 8 min for audience
October 15, 2026, Thursday
12:00 - 12:55 pm Lunch and registration
12:55 - 1:00 pm Conference Introduction and Welcoming Remarks
1:00 - 2:30 pm Session 1 - Private Equity and Stakeholders Chair: Song Ma, Yale
Paper 1: Buyouts With Payouts: The Impacts of Private Equity on Workers and Owners
Presenter: Jordan Richmond, Maryland
Coauthors: Adam Isen, U.S. Treasury; Matthew Smith, U.S. Treasury; Constantine Yannelis, Cambridge
Discussant: Matt Denes, Carnegie Mellon
Paper 2: Communicating Performance: Textual and Financial Disclosures in Private Equity
Presenter: Josh Lerner, Harvard
Coauthors: Fiona Paine, Carnegie Mellon; Antoinette Schoar, MIT
Discussant: Blake Jackson, Ohio State
2:30 - 2:45 pm Break
2:45 - 4:15 pm Session 2 - Labor, Human Capital, and Organizations Chair: Menaka Hampole, Yale
Paper 3: Investing in Human Capital Incubation
Presenter: Bryan Seegmiller, Northwestern
Coauthors: Seung Hyeong Lee, Northwestern; Yufeng Wu, Ohio State; Miao Ben Zhang, USC
Discussant: Melanie Wallskog, Duke
Paper 4: Does Post-Tenure Review Affect Research Productivity and Labor-Market Outcomes? Evidence from Finance
Presenter: Ilona Babenko, Arizona State
Coauthors: Benjamin Bennett, TCU; Xuewei Xiao, Tulane
Discussant: Jordan Nickerson, Washington
4:15 - 4:30 pm Break
4:45 - 5:30 pm Session 3 - Market Organization and Competition Chair: TBD
Paper 5: Why Trade Associations Form: Efficiency and Collusion
Presenter: Jerry Hoberg, USC
Coauthors: Ekaterina Neretina, Bocconi; Gordon Phillips, Dartmouth
Discussant: Alminas Žaldokas, National University of Singapore
5:35 - 6:20 pm KEYNOTE ADDRESS
Keynote speaker: Amir Sufi, University of Chicago Booth
Topic: Venture Capital and Customer Capital (joint with Martin Aragoneses and Young Soo Jang)
6:30 - 9:00 pm RECEPTION AND DINNER
Transportation is provided from Yale SOM, Evans Hall to the Hotel (Dinner Venue)
October 16, 2026, Friday
8:00 - 9:00 am Breakfast
9:00 - 10:30 am Session 4 - Banking and Regulation Chair: Yueran Ma, Chicago Booth
Paper 6: The Boundaries of the Farm and the Death of Small Banks
Presenter: Asli Uyanik, Rice
Discussant: Justin Murfin, Cornell
Paper 7: Regulatory Arbitrage within the Firm
Presenter: Nicola Cetorelli, Federal Reserve Bank of New York
Coauthor: Shohini Kundu, UCLA
Discussant: Denis Sosyura, Arizona State
10:30 - 11:00 am Break
11:00 - 12:30 pm Session 5 - Technology, Investment, and Firm Dynamics Chair: Gordon Phillips, Dartmouth
Paper 8: Automation Under Constraints: Exchange Rates, Interest Rates, and Firm Investment
Presenter: Vojislav “Max” Maksimovic, Maryland
Coauthors: Meghana Ayyagari, George Washington; Rodimiro Rodrigo, George Washington; Ariel Weinberger, George Washington
Discussant: Bo Bian, UBC Sauder
Paper 9: Why Don’t Old Firms Do New Things?
Presenter: Victor Lyonnet, Michigan
Coauthors: Nicolas Crouzet, Northwestern; Zhiguo He, Stanford; Yueran Ma, Chicago Booth
Discussant: Ting Xu, Toronto Rotman
12:30 - 1:30 pm Lunch
1:30 - 3:00 pm Session 6 - Discount Rates, Debt, and Firm Outcomes Chair: Kelly Shue, Yale
Paper 10: Sticky Discount Rates
Presenter: Kilian Huber, Chicago
Coauthors: Niels Gormsen, Chicago Booth; Masao Fukui, Boston University
Discussant: Nicolas Hommel, MIT
Paper 11: Employee Debt Overhang and Firm Performance
Presenter: Marieke Bos, Stockholm School of Economics
Coauthors: Ramin Baghai, Stockholm School of Economics; Elin Molin, Lund; Paula Roth, Stockholm School of Economics
Discussant: Sasha Indarte, Wharton