February 25-26, 2005
Friday, February 25, 2005
Conference: 9:00 a.m. to 5:30
Dinner: 6:00 p.m.
Saturday, February 26, 2005
Conference: 9:00 a.m. to 12 noon
Box lunch provided
NYU School of Law
Furman Hall, 245 Sullivan Street
Pollack Seminar Room, 9th floor
Conference Organizers:
William Allen, Nusbaum Professor of Law and Business
Director, Center for Law & Business
New York University
Yakov Amihud , Ira Rennert Professor of Finance
Stern School of Business, New York University
Richard Kihlstrom, Ervin Miller-Arthur M. Freedman Professor of Finance and Economics
The Wharton School, University of Pennsylvania
Edward B. Rock , Saul A. Fox Distinguished Professor of Business Law
Co-director, Institute for Law and Economics
University of Pennsylvania School of Law
Friday, February 25
9:00 a.m. Registration and Breakfast
9:40 a.m. Welcoming Remarks: Dean Richard Revesz, NYU School of Law
9:45-10:45 a.m.
SEC Regulation Fair Disclosure, Information, and the Cost of Capital
Armando Gomes, The Wharton School, University of Pennsylvania
Gary Gorton, The Wharton School, University of Pennsylvania
Leonardo Madureira, The Wharton School, University of Pennsylvania
Commentator: Merritt Fox, Columbia University School of Law
10:45 to 11:00 a.m. Coffee Break
11:00 a.m.-12 p.m.
Theft and Taxes
Mihir A. Desai, Harvard University and NBER
Alexander Dyck, University of Toronto
Luigi Zingales, University of Chicago, NBER and CEPR
Commentator: Daniel Shaviro, NYU School of Law
12 p.m.-1:00 p.m.
Corporate Governance and Firm Performance
Lawrence D. Brown, Georgia State University
Marcus L. Caylor, Georgia State University
Commentator: Andrew Metrick, The Wharton School, University of Pennsylvania
1:00-1:30 p.m. Lunch
1:30-2:30 p.m.
How Do Legal Differences and Learning Affect Financial Contracts?
Stephen N. Kaplan, University of Chicago Graduate School of Business
Frederic Martel, University of Lausanne IMD and UBS Global Asset Management
Per Strömberg, University of Chicago Graduate School of Business
Commentator: Oliver Hart, Harvard University
2:30-2:45 p.m. Coffee Break
2:45-3:45 p.m.
The Good, The Bad, and the Lucky: CEO Pay and Skill
Robert Daines, Stanford Law School
Vinay Nair, The Wharton School, University of Pennsylvania
Lewis Kornhauser, NYU School of Law
Commentator: Antoinette Schoar, MIT
3:45-4:00 p.m. Coffee Break
4:00-5:00 p.m.
On the Capital Structure Implications of Bankruptcy Codes
Viral Acharya, London Business School
Rangarajan Sundaram, Stern School of Business, New York University
Kose John, Stern School of Business, New York University
Commentator: Alan Schwartz, Yale Law School
7:00 p.m. to 9:00 p.m. Dinner at Provence, 38 MacDougal Street
Saturday, February 26
8:30 a.m. Continental Breakfast
9:00-10:00 a.m.
Do the Merits Matter Less After the Private Securities Litigation Reform Act?
Stephen Choi, NYU School of Law
Commentator: Lemma Senbet, Smith School of Business, University of Maryland, Visiting, Stern School of Business
10:00-10:15 a.m. Coffee Break
10:15-11:15 a.m.
Why Defer to Managers? A Strong Form Efficiency Model
Michael Wachter, University of Pennsylvania Law School
Richard Kihlstrom, The Wharton School, University of Pennsylvania
Commentator: Ronald Gilson, Stanford University School of Law, Columbia University School of Law
11:15-11:30 a.m. Coffee Break
11:30 a.m.-12:30 p.m.
Corporate Governance, Executive Compensation and Securities Litigation
Eric Talley, USC Law School
Gudrun Johnsen, International Monetary Fund
Commentator: Bernard Black, University of Texas
12:30 p.m. Lunch, Lipton Hall, 110 West Third Street