2012 Program Archive

Session 1

Session Chair: Thomas Bates (ASU) Endogenous Liquidity and Defaultable Debt Zhiguo He (Chicago) and Konstantin Milbradt (MIT) Discussant: Bruce Carlin (UCLA) Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty Hui Chen (MIT), Michael Michaux (USC), and Nikolai Roussanov (Penn) Discussant: Rajnish Mehra (ASU)

Session II

Session Chair: George Aragon (ASU) Revealing Shorts: An Examination of Large Short Position Disclosures Charles Jones (Columbia), Adam Reed (UNC), and William Waller (UNC) Discussant: Sunil Wahal (ASU) Performance Measurement with Market and Volatility Timing and Selectivity Wayne Ferson (USC) and Haitao Mo (USC) Discussant: Murray Carlson (UBC) Why Do Individuals Exhibit Investment Biases? Henrik Cronqvist (Claremont McKenna) and Stephan Siegel (Washington) Discussant: Michael Weisbach (Ohio State)

Session III

Session Chair: Michael Hertzel (ASU) Executive Compensation and Horizon Incentives: An Empirical Investigation of Corporate Cash Payout Sheng Huang (Singapore Management University) Discussant: Jeffrey Coles (ASU) Exploration for Human Capital: Theory and Evidence from the MBA Labor Market Camelia Kuhnen (Northwestern) and Paul Oyer (Stanford) Discussant: Kelly Shue (Chicago) Session IV Session Chair: Sreedhar Bharath (ASU) Moral Hazard, Investment, and Firm Dynamics Hengjie Ai (Duke) and Rui Li (Wisconsin) Discussant: Zhiguo He (Chicago) Investment Busts, Reputation, and the Temptation to Blend in with the Crowd Steven R. Grenadier (Stanford), Andrey Malenko (MIT), and Ilya Strebulaev (Stanford) Discussant: Youchang Wu (University of Wisconsin-Madison) Financing through Asset Sales Alex Edmans (Penn) and William Mann (Penn) Discussant: Ilona Babenko (ASU)