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Rothschild Caesarea Center 2001-2014
Rothschild Caesarea Center 11th Annual Conference "Recent Advances in Financial Economics Research"

Sunday-Monday, 18-19 May, 2014

The Arison School of Business, Interdisciplinary Center (IDC), Herzliya                         
                                                                                                                               

Conference Co-Organizers:
Jacob Boudoukh ​ Arison School of Business, IDC​
Roni Michaely ​ Johnson Graduate School of Management, Cornell University
Arison School of Business, IDC
                                                                                                                               

Sunday, 18 May 2014

Location: Room SL302, Radzyner-Sustainability Building
08:30 Registration and coffee
09:00
Day 1 Session 1

Session chair: Kristian Rydqvist, School of Management, Binghamton University

"Scale and Skill in Active Management"
Lubos Pastor, University of Chicago Booth School of Business
Robert Stambaugh, Wharton school, University of Pennsylvania
Lucian Taylor, Wharton school, University of Pennsylvania

Discussant: Martin Schmalz, Ross school of business, University of Michigan

"Can Unemployment Insurance Spur Entrepreneurial Activity? Evidence From France"
Johan Hombert, HEC Paris
Antoinette Schoar, Sloan School of Management, MIT
David Sraer, Bendheim Center for Finance, Princeton University
David Thesmar, HEC Paris

Discussant: David Matsa, Kellogg school of management, Northwestern University
 
 
 
 
 Best Paper Award
  
10:30 Coffee Break
11:00 Day 1 Session 2

Session chair:
Zvi Eckstein, Dean, School of Economics, IDC

"Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle"
Hui Chen, Sloan School of Management, MIT
Rui Cui, Booth School of Business, University of Chicago
Zhiguo He, Booth School of Business, University of Chicago
Konstantin Milbradt, Kellogg School of Management, Northwestern University

Discussant: Ron Anderson, London School of Economics

"Moral Hazard, Informed Trading, and Stock Prices"
Pierre Collin-Dufresne, Swiss Finance Institute, École polytechnique fédérale de Lausanne
Vyacheslav (Slava) Fos, University of Illinois at Urbana-Champaign

Discussant: Adriano Rampini, Fuqua School of Business, Duke University
12:30
Lunch
13:40
Day 1 Session 3

Session chair:
Ilan Kremer, The Jerusalem School of Business Administration, The Hebrew University of Jerusalem
 
"Do ETFs Increase Stock Volatility?"
Itzhak Ben-David, Fisher College of Business, The Ohio State University
Francesco Franzoni, University of Lugano and the Swiss Finance Institute
Rabih Moussawi, Wharton School, University of Pennsylvania

Discussant: Yakov Amihud, Leonard N. Stern School of Business, NYU

"Distracted Shareholders and Corporate Actions"
Elisabeth Kempf, Tilburg University
Alberto Manconi, Tilburg University
Oliver Spalt, Tilburg University

Discussant: Yelena Larkin, SMEAL College of Business, Penn State University
 
 
 
 
 
 


Best Discussant Award
 
 
 
19:15
​Dinner
                                                                                                                                     

Monday, 19 May 2014
Location: Room SL302, Radzyner-Sustainability Building
08:30 Coffee
09:00
Day 2 Session 1

Session chair:
Ron Anderson, London School of Economics

"Product Market Competition in a World of Cross Ownership: Evidence from Institutional Blockholdings"
Jie He, Terry College of Business, University of Georgia
Jiekun Huang, University of Illinois at Urbana-Champaign

Discussant: Elena Simintzi, Sauder School of Business, University of British Columbia

"Compensation of Divisional Managers: Peer Effects inside the Firm"
Ran Duchin, Foster School of Business, University of Washington
Amir Goldberg, Graduate School of Business, Stanford University
Denis Sosyura, Ross school of business, University of Michigan

Discussant: David De Angelis, Jones Graduate School of Business, Rice University
10:30 Coffee​ Break​
11:00 Day 2 Session 2

Session chair:
Shimon Kogan, Arison School of Business, IDC & McCombs School of Business, University of Texas at Austin 

"STAGGERED BOARDS AND FIRM VALUE, REVISITED"
K. J. Martijn Cremers, Mendoza College of Business, University of Notre Dame
Lubomir Litov, Eller College of Management, University of Arizona
Simone Sepe, Eller College of Management, University of Arizona

Discussant: Dalida Kadyrzhanova, Robert H. Smith School of Business, University of Maryland

"Labor Representation in Governance as an Insurance Mechanism"
Han Kim, Ross School of Business, University of Michigan
Ernst Maug, Mannheim Business School, University of Mannheim
Christoph Schneider, Mannheim Business School, University of Mannheim

Discussant: David Sraer, Bendheim Center for Finance, Princeton University
12:30
Lunch
13:30​
Day 2 Session 3

Session chair:
Evgeny Lyandres, School of Management, Boston University & Arison School of Business, IDC

"Performance-Chasing Behavior and Mutual Funds: New Evidence from Multi-Fund Managers"
Darwin Choi, HKUST Business School
Bige Kahraman, Stockholm School of Economics
Abhiroop Mukherjee, HKUST Business School

Discussant: Marcin Kacperczyk, Imperial College, London Business School

"The Costs and Benefits of Financial Advice"
Steve Foerster, Ivey Business School, University of Western Ontario
Juhani Linnainmaa, University of Chicago Booth School of Business
Brian Melzer, Kellogg School of Management, Northwestern University
Alessandro Previtero, Ivey Business School, University of Western Ontario

Discussant: Roger Loh, Lee Kong Chian School of Business, Singapore Management University
15:00
Closing Ceremony
Best Paper Award
Best Discussant Award
Closing reception
Paper Selection Committee Members:
David Aboody (University of California, Los Angeles), Effi Benmelech (Northwestern University), Alon Brav (Duke University), Francois Degeorge (University of Lugano), François Derrien (HEC Paris), Alex Edmans (University of Pennsylvania), Joseph Engelberg (University of California, San Diego), Eliezer Fich (Drexel University), Carola Frydman (Boston University), Jie Gan (Cheung Kong Graduate School of Business), Diego Garcia (UNC at Chapel Hill), Simon Gervais (Duke University), Xavier Giroud (Massachusetts Institute of Technology), Itay Goldstein (University of Pennsylvania), Todd Gormley (University of Pennsylvania), Vidhan Goyal (Hong Kong University of Science and Technology), Yaniv Grinstein (Cornell University), Gustavo Grullon (Rice University), Yael Hochberg (Northwestern University), Victoria Ivashina (Harvard University), Ohad Kadan (Washington University), Ron Kaniel (University of Rochester), Hyunseob Kim (Cornell University), Shimon Kogan (University of Texas at Austin), Yelena Larkin (Penn State University), Anh Le (UNC at Chapel Hill), Mark Leary (Washington University), Evgeny Lyandres (Boston University), Semyon Malamud (Ecole Polytechnique Fédérale de Lausanne), Asaf Manela (Washington University in St. Louis), Prabhala Nagpurnanand (University of Maryland), Daniel Parvisini (London School of Economics), Anna Pavlova (London Business School), Uday Rajan (University of Michigan), Adriano Rampini (Duke University), Michael Roberts (University of Pennsylvania), Stefano Rossi (Purdue University), Amir Rubin (Simon Fraser University), Jacob Sagi (University of North Carolina), David Scharfstein (Harvard University), Martin Schmalz (University of Michigan), Kelly Shue (University of Chicago), Clemens Sialm (University of Texas at Austin), Elena Simintzi (University of British Columbia), Neal Stoughton (WU-Vienna University of Economics and Business), Margarita Tsoutsoura (University of Chicago), Michela Verardo (London School of Economics), Avi Wohl (Tel Aviv University), Kent Womack (University of Toronto), Josef Zechner (WU Vienna University of Economics and Business).