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NATIONAL BUREAU OF ECONOMIC RESEARCH, INC.
SUMMER INSTITUTE 2009
Corporate Finance Workshop
Raghuram G. Rajan and Amir Sufi, Organizers
July 6-7, 2009
Royal Sonesta Hotel
Ballroom A
40 Edwin H. Land Blvd.
Cambridge, MA
PROGRAM
MONDAY, JULY 6:
8:30 am	Coffee and Pastries
	Session: Disclosure
9:00 am	CHRISTIAN LEUZ, University of Chicago and NBER
	CATHERINE SCHRAND, University of Pennsylvania
	Disclosure and the Cost of Capital: Evidence from Firms’ Responses to the Enron Shock
	Discussant: PAOLA SAPIENZA, Northwestern University
10:00 am	Break
	Session: Corporate Theory
10:20 am	OLIVER HART, Harvard University and NBER
	BENGT HOLMSTROM, MIT and NBER
	A Theory of Firm Scope
	Discussant: DOUGLAS DIAMOND, University of Chicago and NBER
11:10 am	ULF AXELSON, Stockholm School of Economics and NBER
	PHILIP BOND, University of Pennsylvania
	Investment Banking Careers
	Discussant: CAMELIA KUHNEN, Northwestern University
12:00 pm	Lunch
1:20 pm	Session: Corporate Debt
	DARREN KISGEN, Boston College
	PHILIP STRAHAN, Boston College and NBER
	Do Regulations Based on Credit Ratings Affect a Firm’s Cost of Capital?
	ANDREW ELLUL, Indiana University
	CHOTIBHAK LOTIKASTHIRA, University of North Carolina
	CHRISTIAN LUNDBLAD, University of North Carolina
	Regulatory Pressure and Fire Sales in the Corporate Bond Market
	Discussant for both papers: MICHAEL ROBERTS, University of Pennsylvania
2:30 pm	Break
2:50 pm	Session: Sovereign Wealth Funds
	NUNO FERNANDES, IMD
	Sovereign Wealth Funds: Investment Choices and Implications around the World
	SHAI BERNSTEIN, Harvard University
	JOSH LERNER, Harvard University and NBER
	ANTOINETTE SCHOAR, MIT and NBER
	The Investment Strategies of Sovereign Wealth Funds
	Discussant for both papers: RANDALL MORCK, University of Alberta and NBER
4:00 pm	Session: Behavioral Corporate Finance
	MALCOLM BAKER, Harvard University and NBER
	XIN PAN, Harvard University
	JEFFREY WURGLER, New York University and NBER
	A Reference Point Theory of Mergers and Acquisitions
	Discussant: GORDON PHILLIPS, University of Maryland and NBER
4:50 pm	Adjourn
TUESDAY, JULY 7:
8:20 am	Coffee and Pastries
	Session: Corporate Governance
8:50 am	ASHWINI AGRAWAL, New York University
	The Impact of Investor Protection Law on Corporate Policy: Evidence from the Blue Sky Laws
	Discussant: DIRK JENTER, Stanford University and NBER
9:40 am	FRANCESCA CORNELLI, London Business School
	ZBIGNIEW KOMINEK, European Bank for Reconstruction and Development
	ALEXANDER LJUNGQVIST, New York University
	Monitoring Managers: Does It Matter?
	Discussant: DANIEL PARAVISINI, Columbia University
10:30 am	Break
10:50 am	Session: Household Finance
	ALBERTO ALESINA, Harvard University and NBER
	FRANCESCA LOTTI, Bank of Italy
	PAOLO EMILIO MISTRULLI, Bank of Italy
	Do Women Pay More for Credit? Evidence from Italy
	MARIANNE BERTRAND, University of Chicago and NBER
	ADAIR MORSE, University of Chicago
	Information Disclosure, Cognitive Biases, and Payday Borrowing (not online)
	Discussant for both papers: SHAWN COLE, Harvard University
12:00 n	Adjourn
1:15 pm	Project on Market Institutions and Financial Market Risk
6/20/09