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CFAR Corporate Finance Conference 2020 Program, October 30 – 31, 2020


Friday, October 30

Session 1: Regulation
Session Chair: Mark Leary (Washington University in St. Louis)

9:00 AM – 10:10 AM CST 

“Internal Models, Make Believe Prices, and Bond Market Cornering” (Ishita Sen and Varun Sharma)

              Presenter: Ishita Sen (Harvard Business School)

              Discussant: Amiyatosh Purnanandam (University of Michigan)

“A Fuzzy Bunching Estimator of Regulatory Costs” (Kairong Xiao and Adrien Alvero)

              Presenter: Kairong Xiao (Columbia University)

              Discussant: Ramona Dagostino (University of Rochester)

BREAK 10:10 AM - 10:30 AM CST

Session 2: Banking and consumer behavior
Session Chair: Jason Donaldson (Washington University in St. Louis)

10:30 AM – 11:40 AM CST

“Dynamic Banking and the Value of Deposits” (Ye Li, Patrick Bolton, Neng Wang and Jinqiang Yang)

              Presenter: Ye Li (Ohio State)

             Discussant: Alexi Savov (New York University)

“Consumer response to corporate political statements: Evidence from geolocation data” (Marcus Painter)

              Presenter: Marcus Painter (St. Louis University)

              Discussant: Pat Akey (University of Toronto)

BREAK 11:40 AM - 1:15 PM CST

Session 3: “Financing Innovations” (Joint with Review of Corporate Finance Studies)
Session Chair: Andrew Ellul, Executive Editor, RCFS (Indiana University)

1:15 PM – 3:00 PM CST

“Financing Competing Innovations: Picking the Winner or Helping the Weaker?” (Merih Sevilir)

              Presenter: Merih Sevilir (Indiana University)

              Discussant: Victoria Vanasco (CREi)

“Sharing R&D Risk in Healthcare via FDA Hedges” (Richard Thakor, Adam Jørring, Andrew W. Lo, Tomas J. Philipson, Manita Singh)

              Presenter: Richard Thakor (University of Minnesota)

              Discussant: Bart Hamilton (Washington University in St. Louis)

“Deregulating innovation capital: The effects of the JOBS Act on biotech startups” (Craig Lewis and Joshua White)

              Presenter: Josh White (Vanderbilt University)

              Discussant: Richard Thakor (University of Minnesota)


Saturday, October 31

9:00 AM – 9:45 AM CST

Keynote Address: Financial innovation and medicine
Andrew Lo (Massachusetts Institute of Technology)
Session Chair: Anjan Thakor (Washington University in St. Louis)

BREAK 9:45 AM - 10:00 AM CST

Session 4: Monetary policy and corporate borrowing
Session Chair: Anjan Thakor (Washington University in St. Louis)

10:00 AM – 11:10 AM CST

 “Trade Credit and the Transmission of Unconventional Monetary Policy” (Manuel Adelino, Miguel Ferreira, Mariassunta Giannetti, Pedro Pires)

              Presenter: Manuel Adelino (Duke University)

              Discussant: Mitchell Petersen (Northwestern University)

“Blocking Block-Formation: Evidence from Private Loan Contracts” (David De Angelis, Brian Akins, and Rustam Zufarov)

              Presenter: David De Angelis (Rice University)

              Discussant: Mitchell Berlin (Federal Reserve Bank of Philadelphia)

BREAK 11:10 AM - 11:30 AM CST

Session 5: Financial distress
Session Chair: Armando Gomes (Washington University in St. Louis)

11:30 AM – 12:40 PM

“Private Equity and Financial Stability: Evidence from Failed Bank Resolution in the Crisis” (Song Ma, Emily Johnston-Ross and Manju Puri)

              Presenter: Song Ma (Yale University)

              Discussant: Edith Hotchkiss (Boston College)

“Dissecting Bankruptcy Frictions” (Winston Dou, Lucian Taylor, Wei Wang, Wenyu Wang)

              Presenter: Winston Dou (University of Pennsylvania)     

              Discussant: Samuel Antill (Harvard Business School)

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