Finance Department, Kellogg School of Management

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Past Bag Lunch Seminars

In many cases, you may click on the presenter's name to view his/her web page, and on the paper title to view the paper or abstract. Copies of the past papers may be available at the Finance Department, Room 401 Jacobs Center.

Fall 2007
Date	Presenter	Paper Title
September 27	Paola Sapienza	"Math and Gender"
October 4	Jared Williams	"The Effects of a False Consensus in Financial Markets"
Friday, October 5 12:15 - 1:30	Roger Lee University of Chicago	"Robust Replication of Volatility Derivatives" (Coauthor Peter Carr ) (PDF 326 KB / 36 pages)
Friday, October 5 1:45 - 3:00 In room 430	David Dicks	"Executive Compensation, Incentives, and the Role for Corporate Governance Regulation" (PDF 289 KB / 51 pages)
Monday, October 15	Ronnie Sadka University of Washington	"Aggregate Earnings and Asset Prices," (Coauthoreda Ray Ball and Gil Sadka)
October 18	Isaac Kleshchelski	"Robust Equilibrium Yield Curves”
Tuesday, October 23	Joey Engelberg	"Costly Information Processing: Evidence from Post Earnings Announcement Drift"
October 25 12:15 - 1:30	Zhiguo He	"Dynamic Compensation Contract with Private Savings"
October 25 1:45 - 3:00	Enrique Sentana CEMFI	"Duality in Mean-Variance Frontiers with Conditioning Information" (Coauthor Francisco Penaranda) (PDF 550 KB / 53 pages)
Monday, October 29	Enrico Perotti	"Codification, Access to Justice and Contractual Innovation" (Coauthor Nicola Gennaioli) (PDF 281 KB / 38 pages)
November 15	Karen Hunt Ahmed University of Chicago	"Islamic Finance"
Monday, December 3	Federico Bandi Graduate School of Business, University of Chicago	“Long-run risk-return trade-offs” (Coauthor Neoit Perron) (Link to paper)
RESCHEDULED for Jan 10th December 6	Frederick Burkhardt	TBA
Wednesday, December 19	Mike Golosov Massachusetts Institute of Technology	"Decentralized trading with Private Information" (Coauthors Guido Lorenzoni and Aleh Tsyvinski)

Spring 2007
Date	Presenter	Paper Title
**March 16 (Friday)	Torben Andersen	"The Information Content of Realized Volatility Forecasts" (Coauthors Per Frederiksen, Nordea Bank and Arne Staal, Lehman Brothers)
**March 20 (Tuesday)	Andrew Hertzberg	"Information and Incentives Inside the Firm: Evidence from Loan Officer Rotation"(Coauthors Jose Liberti and Daniel Paravisini) (PDF 571 KB / 50 pages)
April 12	Breno Schmidt	"Attracting Flows by Attracting Big Clients: Conflicts of Interest and Mutual Fund Portfolio Choice" (Coauthored with Lauren Cohen) (PDF 273 KB / 43 pages)
April 19	Yael Hochberg, Paola Sapienza and Annette Vissing-Jorgensen	"A lobbying approach to evaluating the Sarbanes Oxley act of 2002" (PDF 424 KB / 65 pages)
May 3	Anna Toldra	"Soft bankruptcy law, financial constraints, and the structure of corpotate capital" (PDF 273 KB / 49 pages)
May 10	Paul Gao	"Slow Information Diffusion and Mutual Fund Returns" (Coauthors Zhi Da and Ravi Jagannathan)
May 17	Merrell Hora, Credit Suisse	"Tactical Liquidity Trading in Stocks" (PDF 347 KB / 30 pages)
May 24	Peter Kondor	"Emerging Markets and Financial Intermediaries" (Coauthors Veronica Guerrieri) (PDF 282 KB / 25 pages)
June 18	Yaxuan Qi	“The Empirical Importance of Background Risks” (Coauthors Darius Palia and Yangru Wu) (PDF 1.18 MB/ 43 pages)

Fall 2006
Date	Presenter	Paper Title
Aug 24	Yael Hochberg	"Networking as Entry Deterrence and the Competitive Supply of Venture Capital" (PDF 1.67 MB / 46 pages)
Aug 31	Arvind Krishnamurthy Annette Vissing-Jorgensen	"The Demand for Treasury Debt" (PDF 403 KB / 49 pages)
Sept 7	Sergio Rebelo	"Understanding the Forward Premium Puzzle: A Microstructure Approach" (PDF 348 KB / 45 pages)
**Sept 12	Philip Bond	"Market-Based Intervention and Non-Revealing Prices: The Case of Government Supervision of Banks" (PDF 1.67MB / 38 pages)
Sept 14	Andrea Eisfeldt Adriano Rampini	"Financing Shortfalls and the Value of Aggregate Liquidity" (PDF 282 KB / 40 pages)
Sept 21	Toni Whited, University of Wisconsin	"The Corporate Propensity to Save" (PDF 348 KB / 45 pages)
**Sept 26	Wei Xiong	"Heterogeneous Expectations and Bond Markets" (PDF 338 KB / 59 pages)
Sept 28	Caroline Sasseville	"Prices of Storable Commodities with Irreversible Investment and Borrowing Constraints" (PDF 1.17 MB / 26 pages)
Oct 5	Urs Peyer	"Weak Shareholder Rights: A Product Market Rationale" (PDF 274 KB / 48 pages)
Oct 12	Andrew Hertzberg	"Information Inside The Firm: Evidence From Loan Officer Turnover"
Oct 19	Vefa Tarhan	"Corporate Investment Desicion Practices and the Hurdle Rate Premium and Equity" (PDF 812 KB / 59 pages) "How Do Firms Finance Investments? The Relative Importance of Equity Insurance and Debt Contarcting Costs" (PDF 551 KB/ 47 pages)
Oct 26	David Matsa	"Operating Under a Liquidity Crunch: The Impact of LBOs on Product Availability in the Supermarket Industry"
Nov 2	Camelia Kuhnen	"Executive Pay, Hidden Compensation & Managerial Entrenchment" (Co-author Jeffrey Zwiebel)
Nov 9	Oleg Bondarenko	"Nonparametric Test of Affine Option Models"
Nov 10	Dobrislav Dobrev	Capturing Volatility from Large Price Moves: Generalized Range Theory and Applications (PDF 4.72 MB/ 48 pages)
**Nov 14	Paul Gao	"Herding, information aggregation and momentum effects"
Nov 16	Neng Wang	"Dynamic Investment, Capital Structure, and Debt Overhang" (PDF 510 KB/ 50 pages)
Nov 30	Ioan Olaru	"Disclosure, Contracting and Competition in Financial Markets" (PDF475 KB/ 48 pages)
**Dec 1	Grace Koo	Anticipated versus Unanticipated flows: Do mutual funds hedge liquidity risk?
Dec 7	Andrei Jirnyi	"IPO Auctions Vs Fixed Price Offerings: Some results from a calibration exercise"
**Dec 11	Dobrislav Dobrev	Second Job Market Talk: "Capturing Volatility from Large Price Moves: Generalized Range Theory and Applications" (PDF 4.72 MB/ 48 pages)
Dec 14	Paola Sapienza, Ernesto Reuben, and Luigi Zingales	"How Pervasive is Hyperbolic Discounting?"

Spring 2006
Date	Presenter	School	Paper Title
April 6	Xueping Wu	NU (Visiting)	"Initial Growth Status and Corporate Capital Structure" (PDF 336 KB / 50 pages)
April 27	David Lando	Princeton	"Decomposing Swap Spreads" (PDF 410 K / 49 pages)
April 28	Govanni Ugra	Cass Business School	"Dynamic Conditional Correlation Models with Asymmetric Multivariate Laplace Innovations" (PDF 946 K / 44 pages)
May 11	Alon Brav	NU (Visiting)	"Testing Behavioral Theories of Undervaluation and Overvaluation" (PDF 116 K / 29 pages)
May 25	David L. Dicks	Kellogg School	"Adverse Selection and Diversion of Cash Flows" (PDF 149 K / 19 pages)
June 26	Luigi Zingales	University of Chicago	"Are Elite Universities Losing Their Competitive Edge?" (PDF 691 K / 71 pages)

Fall 2005
Date	Presenter	School	Paper Title
Sept. 22	Arvind Krishnamurthy	Northwestern	"Intermediation Capital, Aggregate Liquidity, and Asset Prices"
Sept. 29	Zhi Da	Northwestern	"Cash Flow, Consumption Risk and Cross Section of Stock Returns"
Oct. 6	Danny Meidan	Northwestern	"Information Revelation for Private Equity Offers - Evidence from PIPE Transactions"
Oct.13	Robert McDonald	Northwestern	TBA
Oct. 20	Michael Johannes	Visiting Northwestern	"Model Specifications and Risk Premiums: Evidence from Futures Options"
Oct. 27	Stephen Zeldes	Columbia University	"Interpreting Social Security as a DC System" (joint with John Geanakoplos).
Nov. 3	Xueping Wu	Visiting Northwestern	"Understanding the Rise and Decline of the Japanese Main Bank System: The Changing effects of bank rent extraction" (PDF 484 KB / 50 pages)
Nov. 17	Peter Swan	University of New South Wales	"Optimal Portfolio Balancing Under Conventional Preferences and Transaction Costs Explains the Equity Premium Puzzle"
*Tuesday, Nov. 22nd, Room 276	Jose Liberti	Visiting Northwestern	"How Valuable is Soft Information?"
Dec. 1	Nicola Gennaioli	Stockholm University	"Dynastic Management"
Dec. 8	Serdar Dinc	Visiting Northwestern	"The Decision to Privatize: The Role of Political Competition and Patronage"

Spring 2005
Date	Presenter	School	Paper Title
Mar 14	Robert McDonald	Northwestern	Issues in the Taxation of Debt and Equity
Mar 17	Debbie Lucas	Northwestern	Valuing Guarantees with Options-Based Methods: The Case of the PBGC
Mar 24	Jacob Sagi	Berkeley	Wag the Dog: A High Equity Premium with Smooth Consumption
Mar 31	Joey Engelberg & Jared Williams	Northwestern	Market Efficiency in the NBA Over-Under Market
Apr 7	Georgios Skoulakis	Northwestern	Panel Data Inference in Finance: Least Square vs. Fama-MacBeth
Apr 14	Nick Bloom	LSE	The uncertainty impact of major shocks: firm level estimation and a 9/11 simulation
Apr 21	Chuck Manski	Northwestern	Measuring and Interpreting Expectations of Equity Returns (with Jeff Dominitz, H. John Heinz III School of Public Policy and Management)
Apr 28	Zhiguo He	Northwestern	Optimal Executive Compensation When Cashflow Follows Geometric Brownian Motion
May 5	Paola Sapienza	Northwestern	Trusting the Stock Market
*May 12, 10:45-11:45 a.m., Rm 4214	Annette Vissing-Jorgensen & Tobias Moskowitz	Northwestern & U Chicago	Human Capital Risk, Stockholder Consumption, and Asset Returns (w/Christopher Malloy, LBS)
May 19	Vadim di Pietro	Northwestern	[topic: volatility risk premium in the cross section of equity options]
*May 20, Friday, 12:15-1:15, Rm 4214	Weina Zhang	Northwestern	Slicing the pie horizontally: an examination of systematic risks in corporate bonds
May 26	Dobrislav Dobrev	Northwestern	Catching Variances and Covariances from Large Price Moves
Jun 2	Paul Gao	Northwestern	Information, (Mis)aggregation and Momentum Strategies
*Jun 8 , Wed., 12:15-1:15, Room 4214	Adriano Rampini	Northwestern	Leasing Capital and Financing Constraints (w/Andrea Eisfeldt)
Jun 9	Zhi Da	Northwestern	"Exploiting Analyst's Target Price"
Jun 16, Thurs., 12:15-1:15pm Room 4214	Enrichetta Ravina and Paola Sapienza	Northwestern	"What Do Outside Directors Know?" Evidence from Outsider Trading