Program Oa Organiser: Local 2008 FMA European Conference
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Local organiser: Program 2008 FMA European Conference Table of Contents Welcome.............................................................................................................................................. Inside Front Cover Jan Hanousek, CERGE-EI Michael Lemmon, University of Utah 2008 FMA European Conference Program Co-Chairs 2008 FMA European Conference Doctoral Student Seminar.............................................................................. 2 Keynote Address ................................................................................................................................................. 3 Dr John McConnell, Purdue University 2008 FMA European Conference Organizing Committee................................................................................... 4 Conference Sponsors.......................................................................................................................................... 6 Conference Program ........................................................................................................................................... 8 Conference Program Matrix ................................................................................................................................30 Prague Hilton Meeting Space Map......................................................................................................................32 Index of Participants............................................................................................................................................34 List of Attendees..................................................................................................................................................37 2009 FMA European Conference........................................................................................................................40 2009 FMA Asian Conference ..............................................................................................................................41 Conference Exhibitors Chez Louis Salon (Mezzanine Level) ♦ CRSP/Center for Research in Security Prices ♦ Palgrave MacMillan ♦ Elsevier ♦ RISE Forum ♦ John Wiley and Sons ♦ Standard & Poors ♦ Oxford University Press Main Sponsors Sponsors Media Partners Meeting Arrangements 2008 FMA European Conference Sponsored by Doctoral Student Consortium Moderator Dr. Jonathan Karpoff, Norman J Metcalfe Endowed Professor in Finance University of Washington Panelists and Workshop Leaders Dr. Louis Ederington, University of Oklahoma Dr. Andrea Heuson, University of Miami Dr. Narayanan Jayaraman, Georgia Tech Dr. Jonathan Karpoff, University of Washington Dr. Michael Lemmon, University of Utah Dr. Kai Li, University of British Columbia Dr. Robert Schwartz, Baruch College Student Participants Wajih Abbassi HEC School of Management Jaime Luque Universidade Nova de Lisboa Rachel Berchtold University of St Gallen Danielle Lyssimachou University of Manchester Pawel Bilinski University of Manchester Jens Martin University of Lugano Yen-cheng Chang University of Washington Lucia Morales University of Limerick James Clark University of Exeter Hamdi Ben Nasr Universite Laval Diego Cueto Concordia University Chayawat Ornthanalai McGill University Andreas Hanhardt ESADE Business School Emre Erkut RAND Graduate School Bjorn Hagstromer Aston University Zhen Shi Tilburg University Petra Halling University of Vienna Suherman State University of Jakarta Wenxuan Hou Manchester Business School Margarita Tsoutsoura Columbia University Spyridon Kapitsinas University of Athens Marco Wolfle University Freiburg Frantisek Kopriva CERGE-EI Dan Wunderli University of Zurich Michal Kowalik University of Mannheim Agenda Wednesday, 4 June 9:00 am............................................................................................................................... Welcoming Remarks Jan Hanousek and Michael Lemmon 2008 FMA European Conference Program Co-Chairs Dr. Jonathan Karpoff, University of Washington 2008 FMA Doctoral Student Consortium Coordinator 9:15 am – 10:30 am............................................................................................................ Presentations by Faculty Leaders 10:30 am –11:00................................................................................................................. Coffee Break 11:00 am – 12:00 noon....................................................................................................... Presentations by Faculty Leaders 12:00 noon – 12:30 pm....................................................................................................... Questions & Answers 12:30 pm – 1:45 pm............................................................................................................ Luncheon 1:45 pm – 4:30 pm.............................................................................................................. Presentations by PhD Students 3:00 – 3:30 pm.................................................................................................................... Coffee Break 2008 FMA European Conference Program - 2 2008 FMA European Conference Keynote Address John J. McConnell Professor of Finance Emanuel T. Weiler Distinguished Professor of Management John J. McConnell is the E. T. Weiler Distinguished Professor of Management (Finance) at the Krannert School of Management at Purdue University where he has been a faculty member since 1976. He received his B.A. in economics from Denison University (1968), an M.B.A. from the University of Pittsburgh (1969), and a Ph.D. in finance from Purdue University (1974). He has also taught at The Ohio State University (1975-1976), the University of Minnesota (1981-1982), and Stanford University (1987-1988). He taught courses in corporate finance, investments, and capital markets in the graduate and undergraduate programs of these universities. He received special recognition for his teaching in 1993 and 1995 (the Salgo Noren Outstanding Teacher Award) and in 1992 (the Outstanding Teacher MSM Program Award). He has published over 75 articles that have appeared in leading finance, economics, and management journals. He received special recognition for his scholarship as the Distinguished Scholar of the Eastern Finance Association (2002). He has served as a member of the Boards of Directors of the Federal Home Loan Bank of Indianapolis, the American Finance Association, and Harrington Bank FSB. He currently serves as a member of the Board of Directors of Los Padres Bank FSB. He has served as a consultant to investment banks (including Merrill Lynch and Goldman Sachs), government agencies (including the Federal Home Loan Mortgage Corporation, the Department of Housing and Urban Development, and Department of Justice), and over 50 law firms throughout the U.S. on various aspects of financial markets and securities including such matters as stock and bond prices, corporate valuation, cost of capital, mergers and acquisitions, derivatives, mortgage backed securities, CMOs, money management practices, and bank and thrift lending and investment practices. He has served as associate editor for the Journal of Finance, Financial Management, the AREUA, and the Journal of Real Estate Finance and Economics. He is currently associate editor of the Journal of Corporate Finance, the Journal of Financial and Quantitative Analysis, the Journal of Fixed Income, and the Pacific-Basin Finance Journal. Dr. McConnell will present the 2008 FMA European Conference Keynote Address at 6:00 pm on Wednesday, 4 June at the Conference Center of the Czech National Bank, immediately prior to the welcome reception. Keynote Address sponsored by Welcome Reception sponsored by 2008 FMA European Conference Program - 3 2008 FMA European Conference 2008 European Conference Program Co-Chairs Jan Hanousek, CERGE-EI Michael Lemmon, University of Utah 2008 FMA European Conference Award Committee Chairpersons Vidhan Goyal, Hong Kong University of Science & Technology James Schallheim, University of Utah Laura Starks, University of Texas Austin Programme Committee Vernie A Alexander-Andrew Nova Southeastern University Amber Anand Syracuse University Sridhar R Arcot ESSEC Business School Elena Asparouhova University of Utah Sung C Bae Bowling Green State University Mikael Bask Bank of Finland David Becher Drexel University Thomas R Berry-Stoelzle University of Georgia Carsten Bienz NHH - Norwegian School of Economics and Business Administration Valentina Giulia Bruno American University Bonnie Buchanan University of South Carolina Sabrina Buti University of Toronto Rosa Maria Chacon Pago eTransaction Services Don M Chance Louisiana State University Stephen E Christophe George Mason University Jonathan E Clarke Georgia Tech Viet Anh Dang Manchester Business School Claude G Diderich Bank Julius Baer & Co Stephan Dieckmann Arizona State University Juliet D'Souza Georgia Gwinnett College Isabelle Ducassy Euromed Marseille Ecole de Management France Alessia Falsarone AIG Investments Eliezer M Fich Drexel University Jarko Fidrmuc University of Munich Vijay B Gondhalekar Grand Valley State University Laura Gonzalez University of Florida Vidhan K Goyal Hong Kong University of Science & Technology Nandini Gupta Indiana University Michael Halling University of Utah Allaudeen Hameed National University of SIngapore Jarrad Harford University of Washington Michael G Hertzel Arizona State University Andrea J Heuson University of Miami Jim