Program for the 2012 Financial Research Association Meeting

December 15th and 16th, 2012

Caesars Palace Conference Center

Saturday December 15, 2012–Emperors 1

12:30 PM Pre-Meeting Coffee

1:00 PM Introductory Remarks

1:10 PM to 3:10 PM Session 1

Chairperson: Hassan Tehranian

(How) Do taxes affect capital structure?
Author: Andrew MacKinlay
Discussant/Presenter: Mark Leary

What are we meeting for? The consequences of private meetings with investors
Authors: David Solimon and Eugene Soltes
Discussant/Presenter: Christopher Parsons

On the fundamental relation between returns and interest rates
Authors: Jaewon Choi, Matthew Richardson, and Robert Whitelaw
Discussant/Presenter: Scott Joslin

3:10 PM to 3:40 PM Break

3:40 PM to 5:00 PM Session 2

Chairperson: Micah Officer

Posturing in venture capital
Authors: Naveen Khanna and Richmond Matthews
Discussant/Presenter: Paolo Fulghieri

Industry Window Dressing
Authors: Huaizhi Chen, Lauren Cohen, and Dong Lou
Discussant/Presenter: Michael Roberts

Wine Tasting–2007 California Cabernet Sauvignon. The tasting will occur immediately after session 2, in the FRA hospitality suite. The room number for the suite will be announced during the session.

Sunday December 16, 2012 — Emperors 1

12:30 PM Pre-Meeting Coffee

1:00 PM to 3:00 PM Session 3

Chairperson: Mark Huson

No news is news: Do markets underreact to nothing?
Authors: Stefano Giglio and Kelly Shue
Discussant/Presenter: Michael Lemmon

Attitudes toward government as determinants of intertemporal choice
Authors: Jeffrey Brown, Zoran Ivkovich, and Scott Weisbenner
Discussant/Presenter: Andrew Samwick

Manager-initiated versus investor-initiated equity issuances
Authors: Stephen McKeon
Discussant/Presenter: Timothy Loughran

3:00 PM to 3:30 PM Break

3.30 PM to 5:00 PM Session 4

Chairperson: Robert Parrino

Joey Engleberg
The Health Implications of Stock Market Performance

Ehud Ronn
Inferring the Term Structure of Equity Betas from the Prices of Option Contracts

Wayne Ferson
Characteristics versus Covariances: What does it Really Mean?

Jeffrey Coles
Explicit Evidence of Relative Performance Evaluation Contracts for Executives

Roger Edelen
Institutional Investors and Stock Return Anomalies

Martin Cherkes
An Alternative Explanation for IPO Underpricing

6:00 PM Dinner-Andre’s in the Monte Carlo