1st Boca Corporate Finance and Governance Conference

Welcome Letter

Dear Conference Participant,

Thanks very much for your interest in the 2020 Boca Corporate Finance and Governance Conference, November 13-15, 2020.

The event is hosted by the College of Business, Florida Atlantic University, and sponsored by the British Academy of Management through the Corporate Governance Special Interest Group .

The best paper and best discussant awards are generously sponsored by the Institute for Humane Studies.

The 2020 event drew 127 submissions. We accepted 68 papers for presentation. The schedule follows below.

With Covid-19 and the current state of affairs in Florida, the event needs to be held virtually. We had hoped to host you here in Boca in 2020. So, we will contemplate another event around the same time in 2021 and look forward to meeting you in person next year in Boca.

The keynote speakers - Allen Berger, Itay Goldstein, and Laura Starks - will present in a panel format on Friday November 13, 2020 from 1:00 - 2:30.

Following the last session of the conference on November 15, 2020, we will have a wrap-up session with the announcement of best paper and discussant awards. We will also have a friendly open chat with editors about publications in various journals that publish papers in Corporate Finance and Corporate Governance, including but not limited to the British Academy of Management's British Journal of Management (a top ranked ABS4 journal with an impact factor of 3.023).

Thanks again, and we look forward to a great event!

Sofia Johan

Conference Format

The conference has two online tracks (A) and (B) over Friday November 13, 2020 to Sunday November 15, 2020. The presentations are open to registered participants (not open to the public generally). We will have separate video meeting links for each of the sessions sent to registered participants. You may email bocaconference@gmail.com to request a registration and meeting link.

Presentations follow the standard finance conference format: 30 minutes per paper, of which 15 minutes is for the author's presentation, 10 minutes for the discussant, and 5 minutes for open discussion.

Note: As at September 20, 2020, there is still room for some discussants. You may email bocaconference@gmail.com if you see a paper that does not yet have a discussant that you would like to discuss. Discussants that submit their slides to bocaconference@gmail.com on or before November 2, 2020 are eligible for a best discussant award, which will be announced at the best paper and reviewer award session at the end of the conference on Sunday November 15.

Links to the papers are available below, except in cases where authors requested a link to their paper not be posted at this time.

The conference schedule follows below. Times are indicated for the EST time zone.

Friday Nov 13, 8:30am to 8:45am: Welcome Remarks

Friday Nov 13 Session 1A: 8.45am to 10.15am: Public vs Private Firms

Session Chair: Masim Suleymanov (Florida Atlantic University)

8.45am to 9.15am "Public versus Private Firms: How Different are They During Crises?"

  • Elena Carletti (Bocconi University and CEPR), Yaniv Grinstein (IDC Herzliya, Cornell University, and ECGI), Patricio Valenzuela (University of Chile)

  • Discussant: Harshit Rajaiya (University of Ottawa)

9.15am to 9.45am "The Impact of Venture Capital Holding on the the Firms’ Life -cycle : Evidence from IPO Firms"

  • Shima Amini (Leeds University Business School), Abdul Mohamed (Leeds University Business School), Armin Schwienbacher (SKEMA Business School — Université Côte d'Azur), Nicholas Wilson (Leeds University Business School)

  • Discussant: Andrea Signori (Catholic University of Milan)

9.45am to 10.15am "Trademarks in Entrepreneurial Firm Success: Empirical Evidence from Venture Backed Private Firms and Initial Public Offerings"

  • Thomas J. Chemmanur (Carroll School of Management, Boston College), Harshit Rajaiya (Carroll School of Management, Boston College), Xuan Tian (Tsinghua University), Qianqian Yu (Lehigh University)

  • Discussant: Alexander Groh (EMLYON Business School, France)

Friday Nov 13 Session 1B: 8.45am to 10.15am: Boards, Politics

Session Chair: Jason Damm (Florida Atlantic University)

8.45am to 9.15am "Which Board Characteristics Crete Value? A Machine Learning Approach"

  • Mikko Ranta (University of Vaasa), Jukka Sihvonen (Aalto University), Emilia Vähämaa (Hanken School of Economics), Sami Vähämaa (University of Vaasa)

  • Discussant: Choonsik Lee (University of Rhode Island)

9.15am to 9.45am "Political Diversity within the Boardroom: Its Effect on Corporate Investment, Performance, and Value"

  • Anna Abdulmanova (Robert Morris University), Stephen P. Ferris (Ball State University)

  • Discussant: Chris Florackis (University of Liverpool)

9.45am to 10.15am "Partisan Investment Cycles"

  • Anthony Rice (Arizona State University)

  • Discussant: Anna Abdulmanova (Robert Morris University)

Friday Nov 13 Session 2A: 10.30am to 12.00pm: Innovation

Session Chair: Winifred Huang (University of Bath)

10.30 am to 11.00am "Does Employment Protection Spur Innovation? International Evidence"

  • Justin Chircop (Lancaster University), Lars Helge Hass (Lancaster University), Monika Tarsalewska (University of Exeter Business School), Skralan Vergauwe (EDHEC Business School)

  • Discussant: Patricio Valenzuela (University of Chile)

11.00am to 11.30am "What is the Value of an Innovation? Theory and Evidence on the Stock Market's Reaction to Innovation Announcement"

  • Thomas J. Chemmanur (Boston College), Dongmei Li (University of South Carolina), Kevin Tseng (Federal Reserve Bank of Richmond), Yu Wang (Boston College)

  • Discussant: Kelvin Jui Keng Tan (University of Queensland)

11.30 am to 12.00pm "Innovation Success and Corporate Financial Policies"

  • Harshit Rajaiya (Carroll School of Management, Boston College)

  • Discussant: Skralan Vergauwe (EDHEC Business School)

Friday Nov 13 Session 2B: 10.30am to 12.00pm: M&As

Session Chair: Michele Meoli (University of Bergamo)

10.30am to 11.00am "The market for corporate control and firm risk-taking: A cross-country analysis of M&A laws"

  • Hisham Farag (University of Birmingham), Andrew Marshall (University of Strathclyde), Santosh Koirala (University of Birmingham), Sandeep Rao (University of Strathclyde)

  • Discussant: Jingshu Wen (SKEMA Business School — Université Côte d'Azur)

11.00am to 11.30am "Corporate acquisitions and the CEO’s traits and biases: A comprehensive study"

  • Tom Aabo (Aarhus University), Jan Hanousek Jr. (University of South Florida), Christos Pantzalis (University of South Florida), Jung Chul Park (University of South Florida)

  • Discussant: Alice Rossi (University of Bergamo)

11.30 am to 12.00pm "Do CFOs Matter? International Evidence from the M&A Process"

  • Stephen P. Ferris (Ball State University), Sushil Sainani (University of Liverpool)

  • Discussant: Andrew Marshall (University of Strathclyde)

Friday Nov 13 1:00pm to 2:30pm: KEYNOTE PANEL

The theme of the keynote session is "The Role of Debt in Corporate Finance" and the three speakers will each present for 15 minutes from 1:00pm to 1:45pm. The Q&A session will be from 1:45pm to 2:30pm.

Allen Berger (University of South Carolina) "Corporate Capital Structure and Firm Value: International Evidence on the Special Roles of Bank Debt"

Laura Starks (University of Texas, Austin) "Climate Regulatory Risk and Corporate Bonds"

Itay Goldstein (Wharton, University of Pennsylvania) "Corporate Bond Markets and the Covid-19 Crisis"

Q&A Session - please feel free to ask questions!

Friday Nov 13 Session 3A: 2.45pm to 4.15pm Media

Session Chair: Joseph Grimes (Florida Atlantic University)

2.45pm to 3.15pm "Financial Media as a Money Doctor: Evidence from Refinancing Decisions"

  • Lin Hu (Australian National University), Kun Li (Australian National University), Phong Ngo (Australian National University), Denis Sosyura (Arizona State University)

  • Discussant: Yu Wang (University of Arkansas)

3.15pm to 3.45pm "Thunder in a Quiet Night: Macro News and Monday Synchronicity"

  • Arbab Khalid Cheema (Cardiff Business School), Arman Eshraghi (Cardiff Business School), Qingwei Wang( Cardiff Business School)

  • Discussant: Winifred Huang (University of Bath)

3.45pm to 4.15pm "Stop the Presses! Or Wait, We Might Need Them: Firm Responses to Local Newspaper Closures and Layoffs"

  • Min Kim (Arizona State University), Derrald Stice (University of Hong Kong), Han Stice (Chinese University of Hong Kong), Roger White (Arizona State University)

  • Discussant: Arbab Khalid Cheema (Cardiff Business School)

Friday Nov 13 Session 3B: 2.45pm to 4.45pm Compensation and Governance

Session Chair: Tijana Rajkovic (San Jose State University)

2.45pm to 3.15pm "Proxy Access: Pleased Minority but Displeased Majority?"

  • Amit Kumar (The Hong Kong University of Science and Technology)

  • Discussant: Daniel Greene (Clemson University)

3.15pm to 3.45pm "Why Do Firms Use Compensation Peer Benchmarking?"

  • Jin Xu (Virginia Tech), Pengfei Ye (Virginia Tech)

  • Discussant: S. Drew Peabody (University of Texas at Dallas)

3.45pm to 4.15pm "Information, Insider Trading, Executive Reload Stock Options, Incentives, and Regulation"

  • David B. Colwell (UNSW Business School), David Feldman (UNSW Business School), Wei Hu (Curtin University)

  • Discussant: Hui Xu (Lancaster University Management School)

4.15pm to 4.45pm "The Impact of Corporate Strategies on Compensation Gaps"

  • Feng Xiaochen (TIAS School for Business and Society), Alexander Groh (EMLYON Business School)

  • Discussant: Jin Xu (Virginia Tech)

Friday Nov 13: 5pm - 6pm Cocktail Party

  • We will host a Zoom Cocktail Party

  • Bring your own drinks to your living room and sign on to Zoom for an informal chat with others!

Saturday Nov 14 Session 4A: 8.45am to 10.15am: IPOs and M&As

Session Chair: Michael Davis (Florida Atlantic University)

8.45am to 9.15am "Direct Listing or IPO? The Choice of Going Public and Welfare Implications Under Adverse Selection"

  • Miles Zheng (University of Illinois at Urbana-Champaign)

  • Discussant: Dimitrios Gounopoulos (University of Bath)

9.15am to 9.45am "The determinants of IPO Withdrawals: Evidence from SPACs"

  • Nebojsa Dimic (University of Vaasa), Edward Lawrence (Florida International University), Milos Vulanovic (EDHEC Business School)

  • Discussant: Qianqian Yu (Lehigh University)

9.45am to 10.15am "Law Firm Expertise and Shareholder Wealth"

  • Denis Schweizer (Concordia University), Ge Wu (University of Richmond)

  • Discussant: Edward Lawrence (Florida International University)

Saturday Nov 14 Session 4B: 8.45am to 10.15am: Cash

Session Chair: Artem Malinin (Florida Atlantic University)

8.45am to 9.15am "Cultural diversity and cash holdings of U.S. multinationals"

  • Fan John Zhang (Auckland University of Technology)

  • Discussant: Kulnicha Meechaiyo (Adam Smith Business School, University of Glasgow)

9.15am to 9.45am "Cash is King or Trash? Reviewing Political Uncertainty and Corporate Behaviour"

  • Kulnicha Meechaiyo (Adam Smith Business School, University of Glasgow)

  • Discussant: Sushil Sainani, University of Liverpool

9.45am to 10.15am "Climate Change Uncertainty and Corporate Cash Holding"

  • Dimitrios Gounopoulos (University of Bath) and Yu Zhang (University of Bath)

  • Discussant: David Javakhadze (Florida Atlantic University)

Saturday Nov 14 Session 5A: 10:30am to 12.00pm: Employees

Session Chair: David Javakhadze (Florida Atlantic University)

10.30am to 11.00am "How does Online Employee Ratings Affect External Firm Financing? Evidence from Glassdoor"

  • Thomas J. Chemmanur (Boston College - Carroll School of Management), Harshit Rajaiya (Boston College - Carroll School of Management), Jinfei Sheng (University of California-Irvine)

  • Discussant: Ai He (University of South Carolina)

11.00am to 11.30am "It’s Not Who You Know—It’s Who Knows You: Employee Social Capital and Firm Performance"

  • DuckKi Cho (Peking University HSBC Business School), Lyungmae Choi (City University of Hong Kong), Michael Hertzel (Arizona State University), Jessie Jiaxu Wang (Arizona State University)

  • Discussant: Nicholas Wilson (University of Leeds)

11.30 am to 12.00pm "Tunneling through employee stock ownership plans: Evidence from China"

  • Wenjie Maa (Shanghai University of Finance and Economics), Jingshu Wen (SKEMA)

  • Discussant: Vladimir Atanasov (William & Mary)

Saturday Nov 14 Session 5B: 10:30am to 12.00pm: Debt, Investments

Session Chair: Pedro Monteiro (Florida Atlantic University)

10.30am to 11.00am "Online Reputation and Debt Capacity"

  • François Derrien (HEC Paris), Alexandre Garel (Audencia Business School), Arthur Petit-Romec (SKEMA Business School-Université Côte d’Azur), Jean-Phillipe (Weisskopf Ecole hôtelière de Lausanne)

  • Discussant: Michael D. Wittry, Ohio State University

11.00am to 11.30am "Syncing Innovation to Avoid Sinking: Supplier Response to Customer Covenant Violations"

  • Srinivasan Selvam (HSBC Business School, Peking University) ,Kelvin Jui Keng Tan (University of Queensland)

  • Discussant: Minjie Zhang (University of Windsor)

11.30 am to 12.00pm "Information Choice and Shock Transmission"

  • Adelina Barbalau (University of Alberta)

  • Discussant: Sivan Frenkel (Tel Aviv University)

Saturday Nov 14 Session 6A: 1:00pm to 2.30pm: Gender

Session Chair: Anita Pennathur (Florida Atlantic University)

1.00pm to 2.30pm "The Origins and Real Effects of the Gender Gap: Evidence from CEOs’ Formative Years"

  • Ran Duchin (University of Washington), Mikhail Simutin (University of Toronto), Denis Sosyura (Arizona State University)

  • Discussant: Tom Aabo (Aarhus University)

1.30pm to 2.00pm "Gender and Executive Job Mobility: Evidence from Mergers and Acquisitions"

  • Xiaohu Guo (The University of Alabama), Vishal K. Gupta (The University of Alabama), Sandra Mortal (The University of Alabama), Vikram Nanda (University of Texas at Dallas)

  • Discussant: Emilia Vähämaa (Hanken School of Economics)

2.00pm to 2:30pm "Female Leadership in Microfinance Institutions, Gender Equality in Outreach, and Entrepreneurship "

  • Zhenyu Wu (University of Manitoba Asper School of Business), Jialong Li (University of Newcastle, Australia)

  • Discussants: Rebel Cole and Douglas Cumming (Florida Atlantic University)

Saturday Nov 14 Session 6B: 1:00pm to 2.30pm: Capital Structure

Session Chair: Masim Suleymanov (Florida Atlantic University)

1.00pm to 2.30pm "Can Machines Learn Capital Structure Dynamics?"

  • Shahram Amini (University of Denver), Ryan Elmore (University of Denver), Ozde Oztekin (Florida International University), Jack Strauss (University of Denver)

  • Discussant: Qiping Huang (Boise State University)

1.30pm to 2.00pm "Industry Dynamics and Capital Structure (Non)Comitment"

  • Shiqi Chen (Cambridge Judge Business School), Hui Xu (Lancaster University Management School)

  • Discussant: Adelina Barbalau (University of Alberta)

2.00pm to 2.30pm "Shadow Union in Local Labor Markets and Capital Structure"

Saturday Nov 14 Session 7A: 2.45pm to 4.15pm: Governance

Session Chair: Chelsea Liu (University of Adelaide)

2.45pm to 3.15pm "The Consequences to Directors of Deploying Poison Pills"

  • William C. Johnson (Suffolk University), Jonathan M. Karpoff (University of Washington), Michael D. Wittry (Ohio State University)

  • Discussant: Eyub Yegen (University of Toronto)

3.15pm to 3.45pm "Striking Oil in the Boardroom: Overpaying Executives through Manipulating Performance Metrics"

  • Vladimir Atanasov (William & Mary), Maria Boutchkova (University of Edinburgh)

  • Discussant: Sabri Boubaker (EM Normandie Business School)

3.45pm to 4.15pm "Board Reforms and Debt Choice"

  • Hamdi Ben-Nasr (Qatar University), Sabri Boubaker (EM Normandie Business School), Syrine Sassi (South Champagne Business School)

  • Discussant: Pedro Monteiro (Florida Atlantic University)

Saturday Nov 14 Session 7B: 2.45pm to 4.15pm: Signals

Session Chair: Artur Khosrovyan (Florida Atlantic University)

2.45pm to 3.15pm "Does Limited Liability Matter? Evidence from a Quasi-Natural Experiment"

  • Yrjo Koskinen (University of Calgary), Nga Nguyen (University of Calgary), J. Ari Pandes (University of Calgary)

  • Discussant: Masim Suleymanov (Florida Atlantic University)

3.15pm to 3.45pm "The Impact of Derivative Disclosures on Managerial Opportunism: Evidence from SFAS 161"

  • Guanming He (Durham University Business School, Durham University), Helen Ren (University of Liverpool, and Warwick Business School, University of Warwick), Richard Taffler (Warwick Business School, University of Warwick)

  • Discussant: Artur Khosrovyan (Florida Atlantic University)

3.45pm to 4.15pm "Information Environment of Firms and Dividends as Signals: Developing Market Evidence"

  • Raj Aggarwal (Ancora Trust and Mutual Funds), Feng Zhan (University of Western Ontario)

  • Discussant: Helen Ren (University of Liverpool)

Sunday Nov 15 Session 8A: 8.45am to 10.15am: Banking

Session Chair: Michael Davis (Florida Atlantic University)

8.45am to 9.15am "Competition and Product Innovation in the Banking Industry"

  • Eric de Bodt (Norwegian School of Economics), Hong Tram Dang (Univ. Lille), Frédéric Lobez (Univ. Lille)

  • Discussant: Claudia Girardone (Universiy of Essex)

9.15am to 9.45am "Do ESG strategies enhance bank stability during financial turmoil? Evidence from Europe"

  • Laura Chiaramonte (University of Verona), Alberto Dreassi (University of Trieste), Claudia Girardone (University of Essex), Stefano Piserà (University of Udine and University of Essex)

  • Discussant (Yrjo Koskinen, Haskayne School of Business, University of Calgary)

9.45am to 10.15am "Investment Sensitivity to Idiosyncratic Credit Term Shocks"

  • Hursit S. Celil (HSBC Business School, Peking University), Brandon Julio (University of Oregon), Srinivasan Selvam (HSBC Business School, Peking University)

  • Discussant: Artem Malinin (Florida Atlantic University)

Sunday Nov 15 Session 8B: 8.45am to 10.15am: Earnings Management

Session Chair: Anita Pennathur (Florida Atlantic University)

8.45am to 9.15am "Can CFOs Resist Undue Pressure from CEOs to Manage Earnings?"

  • Chris Florackis (University of Liverpool)

  • Discussant: Quentin Moreau (Université Paris–Dauphine)

9.15am to 9.45am "Tax vs. Financial Reporting Aggressiveness: A Comprehensive Analysis of IFRS Adoption in Canada"

  • Feng Zhan (University of Western Ontario), Hong Fan (Sobey School of Business)

  • Discussant: Denis Schweizer (Concordia University)

9.45am to 10.15am "Does Real Earnings Management Adversely Affect Analyst Coverage and Forecasts?"

  • Zhichao Li (Durham Business School, Durham University), Guanming He (Durham Business School, Durham University), Richard Slack (Durham Business School, Durham University)

  • Discussant: Lyungmae Choi (City University of Hong Kong)

Sunday Nov 15 Session 9A: 10.30am to 12.00pm: Fintech I

Session Chair: Rebel Cole (Florida Atlantic University)

10.30am to 11.00am "What is Fueling FinTech Lending? The Role of Banking Market Structure"

  • Tetyana Balyuk (Goizueta Business School, Emory University), Allen N. Berger (University of South Carolina), John Hackney (University of South Carolina)

  • Discussant: Oskar Kowalewski (IESEG School of Management, Paris, France)

11.00am to 11.30am "Collectibles Tokenization & Optimal Security Design"

11.30 am to 12.00pm "The Rise of Fintech: A Cross-Country Perspective"

  • Oskar Kowalewski (IESEG School of Management, Paris, France), Paweł Pisany (Institute of Economics, Polish Academy of Sciences)

  • Discussant: Ilya Ivaninskiy (National Research University Higher School of Economics)

Sunday Nov 15 Session 9B: 10.30am to 12.00pm: ESG

Session Chair: Anita Pennathur (Florida Atlantic University)

10.30am to 11.00am "Corporate Social Responsibility and Market Efficiency: Evidence from ESG and Misvaluation Measures"

  • Yannik Bofinger (Justus Liebig University Giessen), Kim J. Heyden (Justus Liebig University Giessen), Bjorn Rock (Justus Liebig University Giessen)

  • Discussant: DuckKi Cho (Peking University HSBC Business School)

11.00am to 11.30am "Green Bonds and ESG Ratings"

  • Quentin Moreau (Université Paris–Dauphine)

  • Discussant: Anthony Rice (Arizona State University)

11.30 am to 12.00pm "The Cross-Roads of ESG and Religious Screening on Firm Risk"

  • Mohammad Kabir Hassan (University of New Orleans), Laura Chiaramonte (University of Verona), Alberto Dreassi (University of Trieste), Andrea Paltrinieri (University of Udine), Stefano Piserà (University of Udine)

  • Discussant: Partha P Roy, University of Strathclyde

Sunday Nov 15 Session 10A: 1.00pm to 2.30pm: Fintech II

Session Chair: Minjie Zhang (University of Windsor)

1.00pm to 2.30pm "Ride the Lightning: Turning Bitcoin into Money"

  • Anantha Divakaruni (University of Bergen), Peter Zimmerman (Federal Reserve Bank of Cleveland)

  • Discussant: Ahmed Sewaid (Insper Institute of Education and Research)

1.30pm to 2.00pm "Impact of Blockchain on the Principal-Agent Conflict"

  • Ilya Ivaninsky (National Research University), Irina Ivashkovskaya (National research university), Joseph McCahery (Tilburg Law School)

  • Discussant: Peter Zimmerman (Federal Reserve Bank of Cleveland)

2.00pm to 2.30pm: "Equity Crowdfunding: New Evidence from the US and UK Markets"

  • Alice Rosssi (Universty of Bergamo), Tom Vanacker (University of Ghent) Silvio Vismara (University of Bergamo)

  • Discussant: Feng Zhan (University of Western Ontario)

Sunday Nov 15 Session 10B: 1.00pm to 2.30pm: Climate, ESG

Session Chair: Maimuna Akter (Florida Atlantic University)

1.00pm to 2.30pm "The Rising Tide Lifts Some Interest Rates: Climate Change, Natural Disasters and Loan Pricing"

  • Ricardo Correa (Federal Reserve Board), Ai He (University of South Carolina), Christoph Herpfer (Emory University, Goizueta Business School), Ugur Lel (University of Georgia, Terry College of Business)

  • Discussant: Roger M White, Arizona State University

1.30pm to 2.00pm "Signaling, Public Expectations and Corporate Response to the U.S. Exit from the Paris Agreement"

  • Hirofumi Nishi (Fort Hays State University), S. Drew Peabody (Naveen Jindal School of Management, University of Texas at Dallas), Carolyn Reichert (Naveen Jindal School of Management, University of Texas at Dallas), J. Philipp Klaus (Bentley University)

  • Discussant: Blair Vorsatz (University of Chicago Booth School of Business)

2.00pm to 2.30pm "ESG Disclosure, Natural Disasters, and Corporate Debt Costs"

  • Qiping Huang (Boise State University), Yongjia Li (Boise State University), Meimei Lin (Georgia Southern University), Garrett A. McBrayer (Boise State University)

  • Discussant: Zhichao Li (Durham Business School, Durham University)

Sunday Nov 15 Session 11A: 2.45pm to 4.15pm: Entrepreneurial Finance

Session Chair: Ahmed Sewaid (Insper Institute of Education and Research)

2.45pm to 3.15pm "Determinants of Venture Capital Investment in University Spin-offs in China"

  • Dongfu (Franco) Li (Faculty of Business Administration, University of Macau, Taipa, Macau), Xiaoqing (Maggie) Fu (Faculty of Business Administration, University of Macau, Taipa, Macau)

  • Discussant: Richard T Harrison (University of Edinburgh Business School)

3.15pm to 3.45pm "Does the Funding Fit? Why Some Entrepreneurs Seek Equity Crowdfunding as a First Resort"

  • Regan M. Stevenson (Kelley School of Business, Indiana University), Sean r. Mcmahon (Love School of Business, Elon University), Chaim Letwin (Sawyer Business School, Suffolk University), Michael P. Ciuchta (UMASS – Lowell, Robert J. Manning School of Business)

  • Discussant: Silvio Vismara (University of Bergamo)

3.45pm to 4.15pm “When to Hold and When To Fold”: Portfolio Returns to Angel Investing in Early Stage Ventures"

  • Richard T. Harrison (University of Edinburgh, UK), Adam J. Bock (University of Wisconsin-Madison, Wisconsin, USA), Geoff Gregson (The Centre for Innovation Studies, Alberta, CANADA)

  • Discussant: Armin Schwienbacher (SKEMA Business School)

Sunday Nov 15 Session 11B: 2.45pm to 4.15pm: Institutional Investors

Session Chair: TBD

2.45pm to 3.15pm "Shining a Light in a Dark Corner: EDGAR Search Activity Reveals the Strategically Leaked Plans of Activist Investors"

  • Ryan Flugum (University of Northern Iowa), Choonsik Lee (University of Rhode Island), Matthew E. Souther (University of South Carolina)

  • Discussant: Andrea Paltrinieri (University of Udine)

3.15pm to 3.45pm "Foreign Institutional Investor Heterogeneity and Corporate Social Responsibility"

  • Partha P. Roy (University of Strathclyde), Sandeep Rao (University of Strathclyde), Andrew Marshall (University of Strathclyde), Chandra Thapa (University of Strathclyde)

  • Discussant: Xiaoqing (Maggie) Fu, University of Macau

3.45pm to 4.15pm "Do Institutional Investors Foster a Good Society? Evidence from Private Prisons"

  • Eyub Yegen (University of Toronto)

  • Discussant: Kim Janine Heyden (Justus Liebig University)

Sunday Nov 15, 4:15 - 4:45: Awards Session

Best Paper and Best Reviewer Awards announced!

Two best paper and two best discussant awards were announced. Plaques were sent to award recipients from the British Academy of Management through the Corporate Governance Special Interest Group . Cash prizes for the two best paper and best discussant awards are generously provided by the Institute for Humane Studies.

We will also have a friendly open chat with editors about publications in various journals, including but not limited to: