Jackson Hole Finance Group
6th Jackson Hole Finance Conference
Jackson Hole, WY January 14 – 16, 2012
Conference Organizers
Paolo Fulghieri and Anil Shivdasani
University of North Carolina at Chapel Hill
Conference Venue
Snake River Lodge & SPA
7710 Granite Loop Road
Teton Village, WY 83025
http://snakeriverlodge.rockresorts.com/
Program Committee
Jonathan Berk, Stanford University
Paolo Fulghieri, University of North Carolina at Chapel Hill
Deborah Lucas, Massachusetts Institute of Technology
Anil Shivdasani, University of North Carolina at Chapel Hill
Ken Singleton, Stanford University
Anjan Thakor, Washington University
Contact for Administrative Questions
Marion Strandh
Program Manager
UNC’s Kenan-Flagler Business School
CB #3490 4100 McColl Bldg.
Chapel Hill, NC 27599
(Tel) 919-962-3174
(Fax) 919-962-2068
Friday, January 13, 2012
5:45 – 6:45 p.m. Wine & cheese Reception (Apres Vous)
Saturday, January 14, 2012
7:00 a.m. – 7:10 a.m. Breakfast (Sundance)
7:10 a.m. – 8:30 a.m. Session 1: Corporate Theory & Empirics
Session Chair: Anjan Thakor (Washington University)
Authors: Adriano Rampini (Duke), Amir Sufi (Chicago) & S. Viswanathan (Duke)
Dividends as Reference Points: A Behavioral Signaling Model
Authors: Malcolm Baker (Harvard) & Jeffrey Wurgler (NYU)
5:00 p.m. – 6:30 p.m. Session 2: Asset Pricing (Sundance)
Session Chair: Matthew Spiegel (Yale)
A Theory of Asset Prices based on Hetergenous Investor Information and Limits to Arbitrage
Authors: Elias Albagli (USC Marshall), Christian Hellwig (Toulouse) & Aleh Tsyvinski (Yale)
Political Uncertainty and Risk Premia
Authors: Lubos Pastor (Chicago) & Pietro Veronesi (Chicago)
6:45 p.m. – 8:30 p.m. Conference dinner at the Alpenrose restaurant
Sunday, January 15, 2012
7:15 a.m. – 7:30 a.m. Breakfast (Sundance)
7:30 a.m. – 8:45 a.m. Session 3: Corporate Empirical
Session Chair: Mike Lemmon (Utah)
The Real Effects of Hedge Fund Activism: Productivity, Risk, and Product Market Competition
Authors: Alon Brav (Duke) & Wei Jiang (Columbia) & Hyunseob Kim (Duke)
Who Works for Startups? The Relation between Firm Age, Employee Age, and Growth
Authors: Paige Ouimet (UNC – Chapel Hill) & Rebecca Zarutskie (Duke)
5:00 p.m. – 6:30 p.m. Session 4: Asset Pricing (Sundance)
Session Chair: Deborah Lucas (MIT)
Authors: Mark Grinblatt (UCLA), Seppo Ikaheimo (Aalto), Matti Keloharju (Aalto) & Samuli Knupfer (LBS)
Authors: Marcus Opp (Berkeley), Christine Parlour (Berkeley) & Johan Walden (Berkeley)
Monday, January 16, 2012
7:15 a.m. – 7:30 a.m. Breakfast (Sundance)
7:30 a.m. – 8:45 a.m. Session 5: Corporate Theory
Session Chair: Paolo Fulghieri (University of North Carolina at Chapel Hill)
Information Acquisition in Rumor-Based Bank Runs
Authors: Asaf Manela (Washington U – St. Louis) & Zhiguo He (Chicago)
Authority, Consensus and Governance
Authors: Bilge Yilmaz (Wharton) & Archishman Chakraborty (York)
JH Weather: