2013 Program
Conference on Finance, Organizations and Markets
hosted by University of Southern California, Marshall School of Business
Popovich Hall, Room 112 (JKP-112), 611 W. Exposition Blvd., Los Angeles, CA 90089
December 13 - 14, 2013
All sessions will be held in Popovich Hall, Room 112 (JKP-112)
Friday, December 13, 2013
12:00 pm – 1:15 pm LUNCH and CONFERENCE CHECK-IN — JKP-112
1:30 pm – 2:20 pm SESSION I Session Chair: Anthony Marino (USC)
Acquisitions, Productivity, and Profitability: Evidence from the Japanese Cotton Spinning Industry
Serguey Braguinsky (Carnegie Mellon University), Atsushi Ohyama (Hokkaido University), Tetsuji Okazaki (University of Tokyo), and Chad Syverson (University of Chicago)
Discussant: Xavier Giroud (MIT) discussion slides
2:20 pm – 3:10 pm
Buying to Sell: Private Equity Buyouts and Industrial Restructuring
Lars Persson (Research Institute of Industrial Economics [IFN], Stockholm), Pehr-Johan Norbäck (IFN), and Joacim Tåg (IFN)
Discussant: Albert Banal-Estanol (Universitat Pompeu Fabra) discussion slides
3:10 pm – 3:30 pm REFRESHMENT BREAK
3:30 pm – 4:20 pm SESSION II Session Chair: Vojislav Maksimovic (Maryland)
Posturing and Efficient Contracting in Venture Capital
Naveen Khanna (Michigan State University) and Richmond Mathews (University of Maryland)
Discussant: Ricardo Alonso (USC) discussion slides
4:20 pm – 5:10 pm
Nicholas Bloom (Stanford), Raffaella Sadun (Harvard), and John Van Reenen (London School of Economics)
Discussant: Vojislav Maksimovic (University of Maryland) discussion slides
5:30 pm RECEPTION and DINNER -— University Club, Scriptorium
What Do Managers Do? Exploring Persistent Performance Differences among Seeming Similar Enterprises
Dinner address by Robert Gibbons (MIT)
Saturday, December 14, 2013
8:00 am – 8:30 am CONTINENTAL BREAKFAST — JKP-112
8:30 am – 9:20 am SESSION III Session Chair: John Matsusaka (USC)
Simplifying Incentives: Evidence from a Randomized Workplace Experiment
Iwan Barankay (Wharton)
Discussant: Camelia Kuhnen (University of North Carolina) discussion slides
9:20 am – 10:10 am
Evidence for Relational Contracts in CEO Bonus Compensation
Jed DeVaro (California State University, East Bay), Jin-Hyuk Kim (University of Colorado at Boulder), and Nick Vikander (University of Copenhagen)
Discussant: Yanhui Wu (USC) discussion slides
10:10 am – 10:30 am COFFEE BREAK
10:30 am – 11:20 am SESSION IV Session Chair: Heitor Almeida (Illinois)
Jaideep Shenoy (Tulane University), Omesh Kini (Georgia State University), and Venkat Subramaniam (Tulane University)
Discussant: Evgeny Lyandres (Boston University) discussion slides
11:20 am – 12:10 pm
Protection of Trade Secrets and Capital Structure Decisions
Hernán Ortiz-Molina (University of British Columbia), Sandy Klasa (University of Arizona), Matthew A. Serfling (University of Arizona), and Shweta Srinivasan (University of Arizona)
Discussant: Berk Sensoy (Ohio State) discussion slides
12:10 pm – 1:30 pm LUNCH — JKP Patio
1:30 pm – 2:20 pm SESSION V Session Chair: Ivo Welch (UCLA)
Giorgo Sertsios (Universidad de los Andes), Renata Kosova (Imperial College London), Praveen Kumar (University of Houston), and Paul Povel (University of Houston)
Discussant: Jerry Hoberg (University of Maryland) discussion slides
2:20 pm – 3:10 pm
Private Equity, Technological Investment, and Labor Outcomes
Ashwini Agrawal (NYU) and Prasanna Tambe (NYU)
Discussant: Kenneth Ahern (USC) discussion slides
3:10 pm – 3:30 pm REFRESHMENT BREAK
3:30 pm – 4:20 pm SESSION VI Session Chair: Gordon Phillips (USC)
Relationship and Transaction Lending in a Crisis
Patrick Bolton (Columbia University), Xavier Freixas (Universitat Pompeu Fabra), Leonardo Gambacorta (Bank for International Settlements), and Paolo Emilio Mistrulli (Bank of Italy)
Discussant: Philipp Schnabl (NYU) discussion slides
4:20 pm End of Conference