Program

September 30, 2016


1:30 PM

Session 1 Accounting Track

Location: LL1030


SEC Monitoring of Foreign Firms’ Disclosures
James P. Naughton, Northwestern University – Kellogg School of Management
Rafael Rogo, University of British Columbia (UBC) – Division of Accounting
Jayanthi Sunder, University of Arizona
Ray Zhang, University of British Columbia (UBC) – Sauder School of Business

The Influence of Mandatory Disclosure Regulation on Voluntary Disclosure: Financial Reporting Timeliness and the Rise of Concurrent Earnings Announcements
Salman Arif, Indiana University – Kelley School of Business – Department of Accounting
Nathan T. Marshall, University of Colorado at Boulder – Department of Accounting
Joseph H. Schroeder, Indiana University – Kelley School of Business – Department of Accounting
Teri Lombardi Yohn, Indiana University – Kelley School of Business – Department of Accounting

Market Reaction to Mandatory Nonfinancial Disclosure
Jyothika Grewal, Harvard University, Harvard Business School, Students
Edward J. Riedl, Boston University – Questrom School of Business
George Serafeim, Harvard University – Accounting & Control Unit

Discussants:
Christopher Small, University of Toronto – Rotman School of Management
Edward Riedl, Boston University – Questrom School of Business
Valentin Dimitrov, Rutgers, The State University of New Jersey – Accounting & Information Systems


1:30 PM

Session 1 Finance Track

Location: LL1035


Dynamic Capital Allocation and Managerial Compensation
Shiming Fu, University of Rochester – Simon Business School

The Impact of Hedge Fund Activism on Firm Activities: Evidence from 8-K Filings
Simi Kedia, Rutgers University, Newark, School of Business-Newark, Department of Finance & Economics
Xianjue Wang, Rutgers, The State University of New Jersey – Rutgers Business School
Xiaofei Zhao, University of Texas at Dallas – Naveen Jindal School of Management

SHO Time for Innovation: The Real Effects of Short Sellers
Jie He, University of Georgia – Department of Banking and Finance
Xuan Tian, Indiana University – Kelley School of Business – Department of Finance

Discussants:
Efstathios Avdis, University of Alberta – Department of Finance and Statistical Analysis
Jiaping Qiu, McMaster University – Michael G. DeGroote School of Business
Lynn Li, Boston University – Questrom School of Business


3:30 PM

Session 2 Accounting Track

Location: LL1030


Growth Opportunities, Leverage and Financial Contracting: Evidence from Exogenous Shocks to Public Spending
Jeffrey L. Callen, University of Toronto – Rotman School of Management
Mahfuz Chy, University of Toronto, Rotman School of Management, Students

Activist Short-Selling
Wuyang Zhao, University of Toronto – Accounting

Do Investors Use the Olympics as a Category for Investment and Should They?
Patricia M. Dechow, University of California, Berkeley – Haas School of Business
Alastair Lawrence, University of California, Berkeley – Haas School of Business
Mei Luo, Tsinghua University – School of Economics & Management

Discussants:
Anup Srivastava, Dartmouth College – Faculty of Arts & Sciences, Department of Economics/Amos Tuck School of Business Administration
Emanuel Zur, University of Maryland – Robert H. Smith School of Business
Theodore Christensen, University of Georgia, C. Herman and Mary Virginia Terry College of Business, Students


3:30 PM

Session 2 Finance Track

Location: LL1035


Cost of Bereavement: How Does Parental Loss Affect Mutual Fund Managers?
Tao Shu, University of Texas at Austin – Department of Finance
Johan Sulaeman, National University of Singapore (NUS) – Department of Finance
P. Eric Yeung, Cornell University – Samuel Curtis Johnson Graduate School of Management

Why Do Institutions Delay Reporting Their Shareholdings? Evidence from Form 13F
Susan Kerr Christoffersen, University of Toronto – Rotman School of Management
Erfan Danesh, University of Toronto, Finance Area, Students
David K. Musto, University of Pennsylvania – Finance Department

Are Hedge Fund Managers’ Charitable Donations Truly Altruistic?
Vikas Agarwal, Georgia State University – J. Mack Robinson College of Business
Yan Lu, University of Florida
Sugata Ray, University of Florida – Warrington College of Business Administration

Discussants:
Lisa Kramer, University of Toronto – Rotman School of Management
Charles Trzcinka, Indiana University – Kelley School of Business – Department of Finance
Diego Garcia, University of Colorado at Boulder – Leeds School of Business


3:30 PM

Session 2 Joint Finance and Accounting Track

Location: LL1020


Information Asymmetry, Market Participation, and Asset Prices
David A. Hirshleifer, University of California, Irvine – Paul Merage School of Business
Chong Huang, University of California, Irvine – Finance Area
Siew Hong Teoh, University of California, Irvine – Paul Merage School of Business

Board Heterogeneity of Expertise and Firm Performance
Daehyun Kim, University of Toronto – Rotman School of Management
Laura T. Starks, University of Texas at Austin – Department of Finance

Corporate Culture: Evidence from the Field
John R. Graham, Duke University – Finance
Campbell R. Harvey, Duke University – Fuqua School of Business
Jillian A. Popadak, Duke University – Fuqua School of Business
Shivaram Rajgopal, Columbia Business School – Accounting, Business Law & Taxation

Discussants:
Yajun Wang, University of Maryland – Robert H. Smith School of Business
Frances Tice, University of Colorado at Boulder – Department of Accounting
Maria Rotundo, University of Toronto – Rotman School of Management


October 1, 2016


8:30 AM

Session 3 Accounting Track

Location: LL1030


Accounting Manipulation, Peer Pressure, and Internal Control
Pingyang Gao, University of Chicago – Booth School of Business
Gaoqing Zhang, University of Minnesota – Twin Cities – Department of Accounting

The Informational Role and Value Relevance of Earnings, Cash Flows, and Accruals
David J. Ashton, University of Bristol – Department of Economics
Pengguo Wang, University of Exeter Business School – Department of Finance

Performance Monitoring and Incentives in Hierarchies
Christian Hofmann, Ludwig Maximilian University of Munich – Faculty of Business Administration (Munich School of Management)
Raffi Indjejikian, University of Michigan at Ann Arbor – Accounting

Discussants:
Baohua Xin, University of Toronto – Rotman School of Management
Mingcherng Deng, City University of New York (CUNY) – Stan Ross Department of Accountancy
Xiaojing Meng, New York University (NYU) – Department of Accounting


8:30 AM

Session 3 Finance Track

Location: LL1035


Lazy Prices
Lauren Cohen, Harvard Business School
Christopher J. Malloy, Harvard Business School
Quoc H. Nguyen, University of Illinois at Chicago – Department of Finance

The Fragility of Organization Capital
Oliver Boguth, Arizona State University (ASU) – Finance Department
David Newton, Concordia University, Quebec – Department of Finance
Mikhail Simutin, University of Toronto – Rotman School of Management

A Comparison of New Factor Models
Kewei Hou, Ohio State University (OSU) – Department of Finance
Chen Xue, University of Cincinnati – Department of Finance – Real Estate
Lu Zhang, Ohio State University (OSU) – Department of Finance

Discussants:
Hongjun Yan, DePaul University
Michael Weber, University of Chicago – Finance
David Ng, Cornell University


8:30 AM

Session 3 Joint Finance and Accounting Track

Location: LL1010


A Closer Look at the Value Premium: Evidence from a Multiples-Based Decomposition
Andrey Golubov, University of Toronto – Rotman School of Management
Theodosia Konstantinidi, City University London – Sir John Cass Business School
Abstract Article
Short-Sales Constraints and Aftermarket IPO Pricing
Panos N. Patatoukas, University of California, Berkeley – Haas School of Business
Richard G. Sloan, University of California, Berkeley – Haas School of Business
Annika Yu Wang, University of California, Berkeley – Accounting Group

Aggregate Supply and Demand Shocks and Asset Prices
Ray Ball, University of Chicago – Accounting
Gil Sadka, University of Texas at Dallas
Ayung Tseng, Indiana University – Kelley School of Business – Department of Accounting

Discussants:
Yan Li, Temple University – Department of Finance
Anna Scherbina, University of California, Davis – Graduate School of Management
Yu Hou, Queen’s School of Business


10:30 AM

Session 4 Accounting Track

Location: LL1030


Understanding Uncontested Director Elections
Yonca Ertimur, University of Colorado at Boulder – Department of Accounting
Fabrizio Ferri, Columbia Business School – Accounting, Business Law & Taxation
David Oesch, University of Zurich

Do First Impressions Last? The Impact of Initial Assessments and Subsequent Performance on Promotion Decisions
Dirk E. Black, Tuck School of Business at Dartmouth
Marshall D. Vance, University of Southern California – Leventhal School of Accounting

Market Valuation of Anticipated Governance Changes: Evidence from Contentious Shareholder Meetings
Francois Brochet, Boston University – Department of Accounting
Fabrizio Ferri, Columbia Business School – Accounting, Business Law & Taxation
Gregory S. Miller, University of Michigan, Stephen M. Ross School of Business

Discussants:
Aida Wahid, University of Toronto – Rotman School of Management
Nan Li, University of Toronto – Rotman School of Management
Vishal Baloria, Boston College


10:30 AM

Session 4 Finance Track

Location: LL1035


What Do Insiders Know? Evidence from Insider Trading Around Share Repurchases and SEOs
Peter Cziraki, University of Toronto – Department of Economics
Evgeny Lyandres, Boston University
Roni Michaely, Cornell University – Cornell Tech NYC

Harnessing the Wisdom of Crowds
Zhi Da, University of Notre Dame – Mendoza College of Business
Xing Huang, Michigan State University

The Volcker Rule and Market-Making in Times of Stress
Jack Bao, Board of Governors of the Federal Reserve System
Maureen O’Hara, Cornell University – Samuel Curtis Johnson Graduate School of Management
Xing (Alex) Zhou, Board of Governors of the Federal Reserve System

Discussants:
Yelena Larkin, York University – Schulich School of Business
Hedi Benamar, Board of Governors of the Federal Reserve System
Andreas Park, University of Toronto – Department of Economics


10:30 AM

Session 5 Joint Finance and Accounting Track

Location: LL1010


It’s Showtime! Conference Call Participation and Analysts’ Career Outcomes
Ling Cen, University of Toronto – Rotman School of Management
Jing Chen, Peking University – Guanghua School of Management
Sudipto Dasgupta, Lancaster University
Vanitha Ragunathan, University of Queensland – Business School

Economic Growth Forecasts Embedded in the Cross-Section of Accounting Data
Yu Hou, Queen’s School of Business
Artur Hugon, Arizona State University (ASU)
Matthew R. Lyle, Northwestern University – Kellogg School of Management

Information Discovery by Analysts
Naveen D. Daniel, Drexel University – Department of Finance
Sangmook Lee, Pennsylvania State University
Lalitha Naveen, Temple University – Department of Finance

Discussants:
Dexin Zhou, City University of New York, CUNY Baruch College – Zicklin School of Business – Department of Economics and Finance
Kevin Li, University of California, Riverside (UCR) – UCR School of Business Administration (SoBA)
Bharat Sarath, Rutgers, The State University of New Jersey – Accounting


1:30 PM

Session 5 Accounting Track

Location: LL1030


Auditor Litigation: Consequences for Other Auditors
Sean Cao, Georgia State University – School of Accountancy
Yangyang Fan, University of Pittsburgh – Katz Graduate School of Business
Ganapathi S. Narayanamoorthy, Tulane University – Accounting & Taxation
Stephen P. Rowe, Tulane University – Accounting & Taxation

Macroeconomic Effects of Aggregate Corporate Tax Avoidance: A Cross-Country Analysis
Terry J. Shevlin, University of Washington – Michael G. Foster School of Business
Lakshmanan Shivakumar, London Business School
Oktay Urcan, University of Illinois at Urbana-Champaign

Regulatory Oversight and Auditor Market Share
Daniel Aobdia, Northwestern University – Kellogg School of Management
Nemit Shroff, Massachusetts Institute of Technology (MIT) – Sloan School of Management

Discussants:
Sudipta Basu, Temple University – Department of Accounting
Luo Zuo, Cornell University – Samuel Curtis Johnson Graduate School of Management
Paddy Sivadasan, Tulane University – A.B. Freeman School of Business


1:30 PM

Session 5 Finance Track

Location: LL1035


Hiding Behind Writing: Communication in the Offering Process of Mortgage-Backed Securities
Harold H. Zhang, University of Texas at Dallas – Naveen Jindal School of Management
Feng Zhao, University of Texas at Dallas – School of Management – Department of Finance & Managerial Economics
Xiaofei Zhao, University of Texas at Dallas – Naveen Jindal School of Management

Option Return Predictability
Jie Cao, The Chinese University of Hong Kong (CUHK) – Department of Finance
Bing Han, University of Toronto – Finance Area
Qing Tong, Singapore Management University – Lee Kong Chian School of Business
Xintong Zhan, Erasmus University Rotterdam (EUR) – Erasmus School of Economics (ESE)

Is There a Risk Premium in the Stock Lending Market? Evidence from Equity Options
Dmitriy Muravyev, Boston College – Department of Finance
Neil D. Pearson, University of Illinois at Urbana-Champaign – Department of Finance
Joshua Matthew Pollet, University of Illinois at Urbana-Champaign – Department of Finance

Discussants:
Mathieu Fournier, HEC Montreal
Hitesh Doshi, University of Houston – C.T. Bauer College of Business
Ruslan Goyenko, McGill University – Desautels Faculty of Management


3:30 PM

Session 6 Accounting Track

Location: LL1030


Financial Analysts’ Long-Term Growth Forecasts and Market Efficiency with Respect to Firms’ Innovative Efficiency
Jeff Zeyun Chen, University of Colorado at Boulder – Department of Accounting
Philip B. Shane, College of William and Mary
Liu Yang, University of Miami
Joseph H Zhang, University of Memphis

Loan Loss Accounting and Procyclical Bank Lending: The Role of Direct Regulatory Intervention
Barrett Wheeler, Indiana University, Kelley School of Business, Department of Accounting, Students

What are You Saying? Using Topic to Detect Financial Misreporting
Nerissa C. Brown, University of Delaware – Alfred Lerner College of Business and Economics
Richard M Crowley, Singapore Management University – School of Accountancy
W. Brooke Elliott, University of Illinois at Urbana-Champaign – Department of Accountancy

Discussants:
Siva Nathan, Georgia State University – School of Accountancy
Hanna Lee, University of Maryland – Robert H. Smith School of Business
Lucile Faurel, Arizona State University (ASU) – School of Accountancy


3:30 PM

Session 6 Finance Track

Location: LL1035


Stock Market Coverage
Briana Chang, University of Wisconsin – Madison – Department of Finance, Investment and Banking
Harrison G. Hong, Columbia University, Graduate School of Arts and Sciences, Department of Economics

Conceal to Coordinate
Snehal Banerjee, University of California, San Diego (UCSD) – Rady School of Management
Taejin Kim, The Chinese University of Hong Kong (CUHK) – Department of Finance
Vishal Mangla, Moody’s KMV

Corporate Control Activism
Adrian Aycan Corum, University of Pennsylvania – Finance Department
Doron Levit, University of Pennsylvania – Finance Department

Discussants:
Jordi Mondria, University of Toronto – Department of Economics
Xianwen Shi, University of Toronto – Department of Economics
Matthieu Bouvard, McGill University – Desautels Faculty of Management