TAU Finance Conference - Program 2013


Tuesday December 17



Registration and light refreshment  (Recanati building 4floor room 405)


Opening remarks and welcome

Asher Tishler (Dean)

Session I: Chair - Haim Kedar - Levy (Ben Gurion University)

Fund Flows in Rational Markets.

Francesco Franzoni (University of Lugano and Swiss Finance Institute), Martin C. Schmalz (University of Michigan).

Discussant: Marcin Kacperczyk (Imperial College)


Are Some Clients More Equal than Others? Evidence of Price Allocation by Delegated Portfolio Managers

Azi Ben-Rephael (Indiana University), Ryan D. Israelsen (Indiana University)

Discussant: Kumar Venkataraman (SMU)


Coffee break


Session II: Chair - Andrew Ellul (Indiana University)

Stress Tests and Information Disclosure

Itay Goldstein (University of Pennsylvania), Yaron Leitner (Federal Reserve Bank of Philadelphia)

Discussant : Pegaret Pichler (Northeastern)


Product Market Competition, Accounting Performance, and CEO Turnover

Sudipto Dasgupta (Hong Kong University of Science and Technology), Xi Li (Hong Kong University of Science and Technology), Albert Wang (Chinese University of Hong Kong).

Discussant : Vijay Yerramilli (University of Houston)


Dinner ( "Goshen" restaurant Tel Aviv)




Wednesday December 18



Gathering and light breakfast


Session III: Chair - Orly Sade (Hebrew University)


What Drives Financial Complexity? A Look into the Retail Market for Structured Products

Claire Celerier (University of Zurich, Boris Vallee (HEC Paris).

Discussant: Shimon Kogan (UT Austin)

Rollover risk and the maturity transformation Function of Banks.

Teodora Paligorova (Bank of Canada), Joao A. C. Santos (Federal Reserve Bank of New York)

Discussant: Anat Admati (Stanford).


Coffee break


Session IV: Chair - David Goldreich (University of Toronto)

Are Credit Ratings Subjective? The Role of Credit Analysts in Determining Ratings

Cesare Fracassi (UT Austin), Stefan Petry (University of Melbourne), Geoffrey Tate (UNC).

Discussant : Michael Gofman (Wisconsin)


Lunch at the "Green House" (Habait Hayarok) restaurant on campus



Session V: Chair - Amir Yaron (Wharton)




Do prices reveal the presence of informed trading?

Pierre Collin-Dufrense (Columbia), Vyacheslav Fos, (Urbana-Champaign)

Discussant : Ohad Kadan (Wash U)


Capital Constraints and Market Liquidity: Evidence from India


C. Bige Kahraman (SIFR and Stockholm School of Economics), Heather Tookes (Yale)

Discussant : Dmitry Livdan (Berkeley)


Coffee break



Session VI: Chair -  Zvi Wiener (Hebrew University)

Disagreement about Inflation and the Yield Curve

Paul Ehling (BI Norwegian Business School), Michael Gallmeyer (University of Virginia), Christian Heyerdahl-Larsen (London Business School), Philipp Illeditsch (University of Pennsylvania)

Discussant : Greg Duffee (John Hopkins).

Stochastic Idiosyncratic Operating Risk and Real Options: Implications for Stock

Returns Harjoat S. Bhamra (University of British Columbia), Kyung Hwan Shim (University of New South Wales)

Discussant : David Feldman (UNSW)


Thursday December 19



Day trip to Jerusalem. Bus leaves from TAU campus

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