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6TH 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.
13-14 SEPTEMBER 2019
6th Cambridge Corporate Finance Theory Symposium 13-14 September 2019
Friday, 13 September
12.00 - 13.00 Lunch Great Hall, Old Court, Clare College, Trinity Lane entrance, Cambridge, CB2 1TL
13.30-14.00 Arrival and registration Clare College, Memorial Court,
Queens Road, Cambridge, CB3
9AJ
14.00 - 14.15 Introduction: Bart Lambrecht (CJBS and CEPR; Director CERF) All sessions take place at:
Clare College, Memorial Court,
Queens Road, Cambridge, CB3
9AJ
Session 1 – chair: Denis Gromb
14.15 – 15.05 Anatoli Segura (Bank of Italy), Alonso Villacorta (University of
California, Santa Cruz): Demand for Safety, Risky loans: A Model
of Securitization
Discussant: Joel Shapiro (Saïd Business School, University of
Oxford)
15.05 - 15.55 N. Aaron Pancost (University of Texas at Austin, McCombs
School of Business), Roberto Robatto (University of Wisconsin-
Madison, Wisconsin School of Business): The Effects of Capital
Requirements on Good and Bad Risk-Taking
Discussant: Pietro Dindo (Università Ca' Foscari Venezia)
15.55 – 16.15 Coffee break
Session 2 – chair: Ron Giammarino
16.15 - 17.05 Vincent Maurin (Stockholm School of Economics), David T.
Robinson (Duke University), Per Strὅmberg (Stockholm School of
Economics): A Theory of Liquidity in Private Equity
Discussant: Paolo Volpin (Cass Business School, City University
of London)
18.00 – 19.00 Punting (for Friday dinner guests only)
19.00 - 22.00 Conference Dinner (by invitation only)
6th Cambridge Corporate Finance Theory Symposium 13-14 September 2019 Saturday, 14 September, All sessions take place at: Clare College, Memorial Court, Queens Road, Cambridge, CB3 9AJ
08.45 - 09.00 Coffee
Session 3 – chair: Bart Lambrecht
09.00 - 09.50 Lorenzo Garlappi (Sauder School of Business, University of British Columbia), Ron
Giammarino (Sauder School of Business, University of British Columbia), Ali Lazrak
(Sauder School of Business, University of British Columbia): The Corporation as a
Group: Polarization and Investment Inefficiency
Discussant: Nadya Malenko (Boston College, Carroll School of Management)
09.50 – 10.40 Zhiyao Chen (Chinese University of Hong Kong), Dirk Hackbarth (Questrom School of
Business, Boston University), Ilya A. Strebulaev (Graduate School of Business,
Stanford University): A Unified Model of Distress Risk Puzzles
Discussant: Pierre Collin-Dufresne (EPFL)
10.40 – 11.10 Coffee and Group Photo
11.10 - 12.00 Keynote address: Itay Goldstein (Wharton School, University of Pennsylvania)
Session 4 – chair: Nadya Malenko
12.00 – 12.50 Christine A. Parlour (Haas School of Business, University of California at Berkeley),
Uday Rajan (Ross School of Business, University of Michigan), Haoxiang Zhu (MIT
Sloan School of Management): FinTech Disruption, Payment Data, and Bank
Information
Discussant: Gilles Chemla (Imperial College London)
12.50 – 14.00 Buffet Lunch
Session 5 – chair: Pierre Collin-Dufresne
14.00 – 14.50 Anil K Kashyap (Booth School of Business, University of Chicago), Natalia Kovrijnykh
(Arizona State University), Jian Li (University of Chicago), Anna Pavlova (London
Business School): The Benchmark Inclusion Subsidy
Discussant: Simon Gervais (The Fuqua School of Business, Duke University)
14.50 – 15.40 Max Bruche (Humboldt University of Berlin), John C.F. Kuong (INSEAD): Dealer
Funding and Market Liquidity
Discussant: Peter Kondor (London School of Economics)
15.40 – 16.00 Coffee Break
Session 6 – chair: Simon Gervais
16.00 – 16.50 Gary B. Gorton (Yale School of Management), Alexander K Zentefis (Yale School of
Management) : Social Progress and Corporate Culture
Discussant: John Thanassoulis (Warwick Business School)
19.00 Drinks and Dinner (by invitation only)
6th Cambridge Corporate Finance Theory Symposium 13-14 September 2019
Speakers, Discussants and Organizers
Gilles Chemla
Imperial College London
Zhiyao Chen
Chinese University of Hong Kong
Pierre Collin-Dufresne
EPFL
Pietro Dindo
Università Ca' Foscari Venezia
Simon Gervais
The Fuqua School of Business, Duke University
Ron Giammarino
Sauder School of Business, University of British Columbia
Itay Goldstein
Wharton School, University of Pennsylvania
6th Cambridge Corporate Finance Theory Symposium 13-14 September 2019
Denis Gromb
HEC Paris
Peter Kondor
London School of Economics
John C.F. Kuong
INSEAD
Bart Lambrecht
CERF, Cambridge Judge Business School
Ali Lazrak
Sauder School of Business, University of British Columbia
Nadya Malenko
Boston College, Carroll School of Management
Vincent Maurin
Stockholm School of Economics
N. Aaron Pancost
University of Texas at Austin, McCombs School of Business
6th Cambridge Corporate Finance Theory Symposium 13-14 September 2019
Sponsor: Cambridge Endowment for Research in Finance (CERF). Organised in collaboration with
CEPR
Organizers: Bart Lambrecht, Director, CERF (Cambridge Judge Business School and CEPR) and
Denis Gromb (HEC Paris)
Contact details – [email protected]
Anna Pavlova
London Business School
Uday Rajan
Ross School of Business, University of Michigan
Anatoli Segura
Bank of Italy
Joel Shapiro
Saïd Business School, University of Oxford
John Thanassoulis
Warwick Business School
Paolo Volpin
Cass Business School, City University of London
Alexander K Zentefis
Yale School of Management