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Financial Stability and Financial Intermediary Firms’ Behavior
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| September 23-24, 2010 |
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Agenda
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| Thursday, September 23, 2010 |
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| 8:15 a.m. |
Continental Breakfast |
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| 9:00 a.m. |
Welcoming Remarks
James McAndrews, Federal Reserve Bank of New York |
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| 9:05 a.m. |
Session 1: Leverage, Liquidity, and Financial Crises
Session Chair: Paolo Fulghieri, University of North Carolina
Debt Maturity Structure and Credit Quality?
Radhakrishnan Gopalan, Washington University in St. Louis
Fenghua Song, Pennsylvania State University
Vijay Yerramilli, Indiana University
Discussant: Chester Spatt, Carnegie Mellon University |
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| 10:05 a.m. |
Crises, Liquidity Shocks, and Fire Sales at Financial Institutions
Nicole Boyson, Northeastern University
Jean Helwege, University of South Carolina
Jan Jindra, Menlo College
Discussant: Todd Pulvino, CNH Partners |
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| 11:05 a.m. |
Coffee Break |
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| 11:20 a.m. |
Financial Intermediary Leverage and Value-at-Risk
Tobias Adrian, Federal Reserve Bank of New York
Hyun Song Shin, Princeton University
Discussant: Thomas Philippon, New York University |
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| 12:30 p.m. |
Lunch
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| 1:45 p.m. |
Session 2: Financial Market Integration and Risk
Session Chair: Linda Goldberg, Federal Reserve Bank of New York
Uninvited U.S. Investors? Economic Consequences of Involuntary Cross-Listings
Peter Iliev, Pennsylvania State University
Darius Miller, Southern Methodist University
Lukas Roth, University of Alberta
Discussant: Ailsa Roell, Columbia University
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| 2:45 p.m. |
Differences in the Integration of Financial Systems: An International Comparison
Florian Kirchner, Goethe University
Discussant: Matthew Richardson, New York University
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| 3:45 p.m. |
Coffee Break |
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| 4:00 p.m. |
Session 3: How Do Banks Decide Their Capital Structure?
Session Chair: Mark Flannery, University of Florida
Douglas Simons, Credit Suisse
Robert Smalley, UBS
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| 5:30 p.m. |
Reception |
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| Friday, September 24, 2010 |
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| 8:15 a.m. |
Continental Breakfast |
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| 9:00 a.m. |
Session 4: Ways to Prevent Financial Crises
Session Chair: Hamid Mehran, Federal Reserve Bank of New York
Caught between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent Seeking and Risk Shifting
Viral Acharya, New York University
Hamid Mehran, Federal Reserve Bank of New York
Anjan Thakor, European Corporate Governance Institute and Washington University in St. Louis
Discussant: Lucy White, Harvard University
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| 10:00 a.m. |
Contingent Capital: The Case for COERCs
George Pennachi, University of Illinois at Urbana-Champaign
Theo Vermaelen, INSEAD
Christian Wolff, University of Luxembourg
Discussant: Suresh Sundarasen, Columbia University
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| 11:00 a.m. |
Coffee Break
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| 11:15 a.m. |
The Case for Intervening in Bankers' Pay
John Thanassoulis, University of Oxford
Discussant: Alex Edmans, University of Pennsylvania
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| 12:15 p.m. |
Lunch and Adjourn |
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Federal Reserve Bank of New York
33 Liberty Street
10th floor, Multipurpose Room
New York, NY 10045
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Mark Flannery
Paolo Fulghieri
Hamid Mehran
Anjan Thakor
RCFS Editorial Sponsor: Paolo Fulghieri
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Please address any questions to Hamid Mehran
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