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Research and Publications

Brown Bag Seminar Series

Our Brown Bag Seminar Series gives faculty and doctoral students an opportunity to share their current research in an informal setting. The finance department provides lunch for participants. Here are the brown bag seminars in recent years:

December 3, 2012
“IPOs and Employment?”
Alexander Borisov, Andrew Ellul, and Merih Sevilir

November 27 , 2012
“What Drives Systematic Risk Factors”
Ryan Israelsen

November 13, 2012
“Technology Innovation: Winners and Losers?”
Leonid Kogan, Dimitris Papanikolaou, and Noah Stoffman

November 6, 2012
“When Talk Isn't Cheap: The Corporate Value of Political Rhetoric”
Art Durnev, Larry Fauver, and Nandini Guptae

October 30, 2012
“It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans”
Veronika Pool, Clemens Sialm, and Irina Stefanescu

October 24, 2012
“Beyond 'Lost in Translation': Cultural Proximity and the Processing of Financial Information”
Qianqian Du, Frank Yu, and Xiaoyun Yu

October 16, 2012
“Conflicted Credit Raters”
Jess Cornaggia and Kimberly Cornaggia

October 9, 2012
“Venture Capital Communities”
Amit Bubna, Sanjiv Das, and N.R. Prabhala

October 2, 2012
“Covenant-Lite Loans”
Matt Billett, Latchezar Popov, and Raunaq Pungaliya

September 25, 2012
“Do Informed Traders Demand or Supply Liquidity?”
Zhong Zhang

September 18, 2012
“Price Discovery in the Stock and Corporate Bond Markets”
Yifei Mao

September 11, 2012
“Employment and Wage Insurance Within Firms”
Andrew Ellul, Marco Pagano, and Fabiano Schivardi

September 4, 2012
“Institutional Holding Periods”
Bidisha Chakravarty, Pamela Moulton, and Charles Trzcinka

August 28, 2012
“Asset Trading and Valuation with Uncertain Exposure”
Juan Carlos Hatchondo, Per Krusell, and Martin Schneider

August 21, 2012
“Corporate Venture Capital, Value Creation, and Innovation”
Tom Chemmanur, Elena Loutskina, and Xuan Tian

May 4, 2012
“Does Banking Competition Affect Corporate Innovation?”
Jess Cornaggia, Xuan Tian, and Brian Wolfe

April 30, 2012
“School Ties in Fund Families”
Jung Hoon Lee

April 24, 2012
“Neighbor Effects in Mutual Fund Portfolio Choice”
Veronika Krepely-Pool, Noah Stoffman, and Scott Yonker

April 18, 2012
“Optimal Algorithmic Trading With Limit Orders”
Craig Holden

April 13, 2012
“Aggregate Investment and Its Consequences”
Salman Arif

April 10, 2012
“Strategic Performance Allocation in Institutional Asset Management Firms: Behold the Power of Stars and Dominant Clients”
Ranadeb Chaudhuri, Zoran Ivkovic, and Charles Trzcinka

April 4, 2012
“Tournament Incentives and Debt Contracts”
Ting Chen, Xiumin Martin, and Jun Yang

March 27, 2012
“The Brain Gain of Corporate Boards: A Natural Experiment from China”
Mariassunta Giannetti and Guanmin Liao, and Xiaoyun Yu

March 20, 2012
“Inter-firm network connections and information sharing”
Merih Sevilir

December 6, 2011
“Passive Aggressive”
Utpal Bhattacharya, Andreas Hackethal, Simon Kaesler, Benjamin Loos, and Steffen Meyer

November 29, 2011
“Pricing and Mispricing in the Cross-Section”
Craig Nichols, Jim Wahlen, and Matt Wieland

November 15, 2011
“The Puzzling Counter-cyclicality of the Value Premium: Empirics and a Theory”
Maurizio Montone

November 8, 2011
“Glamour Brands and Glamour Stocks”
Matt Billett, Zhan Jiang, and Lopo Rego

November 2, 2011
“The Dark Side of Analyst Coverage: The Case of Innovation”
Jack He and Xuan Tian

October 25, 2011
“By the Book: Sentiment in the Long Run”
Ryan Israelsen and Noah Stoffman

October 18, 2011
“The Information Content of Credit Ratings: Compensation Structure Does Matter”
Valentina Bruno, Jess Cornaggia, and Kimberly Cornaggia

October 11, 2011
“Historical Cost Accounting, Incentive Distortions, and Market Stress”
Andrew Ellul, Pab Jotikasthira, Christian Lundblad, and Yihui Wang

October 4, 2011
“Don’t be silly, you’re taking the fall: How top managers use external scapegoats to counter legitimacy threats”Matthew Semadeni

September 27, 2011
“Predicting Earnings With Twitter ”
Hong Kee Sul

September 20, 2011
“The Key Man Premium”
Ryan Israelsen and Scott Yonker

September 13, 2011
“Strategic Analysis: The Role of Incentives, Tournaments  and Mutual Dependence in the Knowledge Economy”
Ken Weakley

September 6, 2011
Manipulating the balance sheet? Implications of off-balance-sheet lease financing
Kimberly Cornaggia

August 30, 2011
Do Firms Buy Their Stock at Bargain Prices? Evidence from Actual Stock Repurchase Disclosures
Azi Ben-Rephael

May 17, 2011
The Value of Corporate Lobbying
Alex Borisov, Eitan Goldman, and Nandini Gupta

May 3, 2011
Merih Sevilir

April 14, 2011
Market Timing and Investment Selection: Evidence from Real Estate Investors
Yael Hochberg and Tobias Muhlhofer

April 13, 2011
Daniel Kim

March 29, 2011
No Place Like Home: Mutual Fund Managers and the Home Bias
Veronika Krepely-Pool, Noah Stoffman, and Scott Yonker

March 22, 2011
Alex Borisov

February 15, 2011
Shyam Venkatesan

February 8, 2011
Bader Alhashel

December 14, 2010
Xuan Tian

November 30, 2010
Institutional Investors, Information Production, and Stock Splits
Thomas Chemmanur, Gang Hu, and Jiekun Huang

November 15, 2010
Xuan Tian

November 2, 2010
Daniel Beneish

October 12, 2010
Shyam Venkatesan

October 5, 2010
Andrew Ellul

September 28, 2010
Irina Stefanescu

September 22, 2010
Bader Alhashel

September 21, 2010
Shawn O'Donoghue

September 17, 2010
Ryan Israelsen

September 14, 2010
Brian Wolfe

Septmeber 10, 2010
Do Retail Investors Benefit From Smart and Unbiased Financial Advice?
Utpal Bhattacharya, Andreas Hackethal, Simon Kaesler, and Benjamin Loos

September 7, 2010
Charles Trzcinka

May 4, 2010
Family Values in Mutual Fund Families
Utpal Bhattacharya, Veronika Krepely-Pool, and Jung Hoon Lee

April 28, 2010
Do They Vote With Their Feet? Evidence from Funds of Mutual Funds
Jung Hoon Lee

April 21, 2010
Milliseconds Matter! The Breakdown of Standard Microstructure Measures and How to Fix Them
Craig Holden and Stacey Jacobsen

April 14, 2010
Investors' Horizon and the Amplification of Market Shocks
Andrew Ellul, Cristina Cella, and Mariassunta Giannetti

April 6, 2010
Proceeds-Shortfall Risk and the Underpricing of Securities Offerings: Posting a Fixed Offer Price is the Analogue of the Newsboy Problem
Steve Jones

March 30, 2010
VC Insider Rounds as Rescue Financing: Theory and Evidence
Brian Broughman and Jesse Fried

March 23, 2010
Matt Clayton

March 2, 2010
Contractual Versus Actual Severance Pay Following CEO Departure
Peggy Huang

February 26, 2010
The Term Structure of Morality Rates of Public Firms: Do Financial Intermediaries During IPOs Matter? 
Utpal Bhattacharya, Alex Borisov, and Xiaoyun Yu

December 9, 2009
Stacey Jacobsen 

November 18, 2009
Nandini Gupta

November 10, 2009
Jess Cornaggia 

October 13, 2009
Noah Stoffman

October 6, 2009
Jun Yang

September 29, 2009
Ryan Israelsen

September 25, 2009
Andrey Ukhov

September 22, 2009
Cristina Cella

September 18, 2009
Can Global Stock Liquidity Be Measured?
Kingsley Fong, Craig Holden, and Charles Trzcinka

September 8, 2009
Eitan Goldman

May 11, 2009
On the revenue-generating incentives of analyst research
Stacey Jacobsen, Irina Stefanescu, and Xiaoyun Yu

May 1, 2009
Greater risk, weaker risk management: Evidence from bank holding companies
Andrew Ellul and Vijay Yerramilli

March 10, 2009
Information from Relationship Lending: Evidence from China
Chuan Chang, Guanmin Liao, Zheng Ni, and Xiaoyun Yu

March 3, 2009
Ultimate Sources of Asset Price Variability: Evidence from Real Estate Investment Trusts
Toby Mühlhofer and Andrey Ukhov

February 3, 2009
Pay for performance: a closer look at performance metrics in annual incentive payouts
Daniel Kim

January 3, 2009
Can individual client profitability be explained?
Kingsley Fong

November 5, 2008
Is Board Structure One-Size-Fits-All? The Unintended Informational Consequence of the Sarbanes-Oxley Act
Huijing Fu and Xiaoyun Yu

October 31, 2008
On The Optimality of Ad Hoc Bailouts
Utpal Bhattacharya

October 20, 2008
Fires Sales in the Corporate Bond Market
Andrew Ellul, Pab Jotikasthira, and Chris Lundblad

October 7, 2008
Marital Prenup? A Look at CEO Severance Agreement
Peggy Huang

September 30, 2008
Banks and Corporate Assets Sales
Alexander Borisov

September 25, 2008
Disentangling Idiosyncratic PIN from Systematic PIN
Daniel Kim

May 27, 2008
Penny Wise and Dollar Foolish: The Left-Digit Effect in Security Trading
Utpal Bhattacharya, Craig Holden, and Stacey Jacobsen

October 2, 2007
Corporate Fraud and Business Conditions: Evidence from IPOs
Xiaoyun Yu, Tracey Wang, and Andrew Winton

April 24, 2007
Life Expectancy of U.S. Public Corporations
Utpal Bhattacharya, David Hsieh, and Xiaoyun Yu

April 6, 2007
Inside the Black Box: The Role and Composition of Compensation Peer Groups
Jun Yang

March 28, 2007
What do Hedge Fund Managers and Sumo Wresters Have in Common?
Veronika Krepeley Pool and Nick Bollen

March 8, 2007
Extreme Nontrading and Expected Returns
Sam Henkel

Febrary 2, 2007
Why Do Firms Enter Into New Lending Relationships?
Vijay Yerramilli

November 14, 2006
Hedge Fund, Mutual Fund, and Institutional Fund Conglomerates: Does the Organizational Form Matter?
Janis Berzins, Crocker Liu, and Chuck Trzcinka

October 3, 2006
The Economics of Super Managers
Jun Yang

September 26, 2006
Indebting the Family: Does Ownership Matter for Capital Structures?
Andrew Ellul and Urgr Lel

September 11, 2006
Pricing Credit Spread With Stochastic Volatility of Asset Return
Zhongyan Zhu

September 6, 2006
Style Preferences: Risk Preferences of Value and Growth Investors
Douglas Blackburn, Will Goetzmann, and Andrey Ukhov

April 24, 2006
Can Transparency Be Too Much Of A Good Thing?

April 18, 2006
Diversification and Shareholder Payments in the Tobacco Industry: The Role of Expropriation Costs
Daniel Beneish, Mary Billings, Michael Lewis, and Melissa Price

March 27, 2006
Advertising for Liquidity on the NYSE
Bob Jennings and Ram Thirumalai

November 22, 2005
New Low-Frequency Liquidity Measures
Craig Holden

October 25, 2005
Is Stock Picking Declining Around The World?
Utpal Bhattacharya and Neal Galpin

October 18, 2005
Looking Beyond the Seven Percent Solution
Rina Ray

October 11, 2005
The Use of Multiple Financial Institution Types in Small Business Finance
Lamont Black

October 4, 2005
Informed Foreigners vs. Informed Locals. Who Knows More?
Diego Agudelo

September 29, 2005
Financial Analysts in Security Markets: Their Role in Price Discovery and Impact on Liquidity
Andrew Ellul

September 21, 2005
Why Do Firms Go Public: Evidence From Banks
Richard Rosen, Scott Smart, and Chad Zutter

September 13, 2005
Liquidity: A Blessing or Curse for Corporate Goverance
Ann Zhang

September 6, 2005
Regime-Switching Asset Pricing and the Cross-Section of Returns
Sam Henkel

August 30, 2005
Default and Liquidity Premia in Swaps
Chotibhak Jotikasthira

August 10, 2005
Barriers to Foreign Investment: The Power of Incumbent Firms
Nandini Gupta

May 16, 2005
Foreign Flows, friends or foes?: Foreign investors and the liquidity of emerging markets
Diego Agudelo

April 12, 2005
Underwriting Agreement, Litigation Risk and Underpricing
Rina Ray

May 5, 2005
Liquidity, Price Impact, and Foreign Trading: Does Identity Matter?
Robert Neal

March 29, 2005
Do stock splits improve liquidity?
Ruslan Goyenko, Craig Holden and Andrey Ukhov

March 22, 2005
Temptation
Diego Agudelo, Utpal Bhattacharya and Samuel Henkel

March 08, 2005
Douglas Blackburn
Option Implied Risk Aversion and Coefficient of Intertemporal Substitution—An Investigation of Investor Preferences

March 1, 2005
Flows, Performance, and New Portfolio Creation in Institutional Money Manager Industry
Janis Berzins

February 3, 2005
Santiago Valverde

December 30, 2004
Are Private Benefits Bad?
Joon Ho Hwang

November 17, 2004
Stock and Bond Pricing with Liquidity Risk
Ruslan Goyenko

November 16, 2004
The Decision to Privatize: The Role of Electoral Competition, Political Patronage, and Interest Groups
Nandini Gupta

November 09, 2004
Managerial Mis-Investment and Stock Returns
Neal Galpin

October 26, 2004
Do Japanese CEOs matter?
Utpal Bhattacharya

October 12, 2004
Capital Structure and Corporate Disclosure
Darius Miller

October 05, 2004
Horseraces of Monthly and Annual Liquidity Measures
Ruslan Goyenko, Craig Holden, Christian Lundblad, and Charles Trzcinka

September 28, 2004
An Analysis of the Credit Channel as a Monetary Policy Transmission Mechanism
Lamont Black

September 21, 2004
Do foreign investors increase liquidity in emerging markets?
Diego Agudelo

September 14, 2004
Standard vs. Non-Standard Contracts: Evidence from Lock-Up Contracts
Rina Ray

September 8, 2004
Credit Risk, Earnings, and Analyst Forecasts
Dirk Hackbarth and Levent Guntay