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The Ninth Georgia Tech / Fortis Conference on International Finance April 10-12, 2003
Friday, April 11, 2003 8:00 Registration and Coffee 8:30 Greeting Terry C. Blum, Dean, DuPree College of Management 8:35 Introduction and Overview Cheol Eun, Georgia Tech 8:40 Session I: The Euro and Foreign Exchange Markets Chair: Vihang Errunza, McGill University Arturo Bris, Yale University Yrjö Koskinen, Stockholm School of Economics Mattias Nilsson, Stockholm Institute for Financial Research The Euro Is Good After All: Corporate Evidence Discussant: Rohan Williamson, Georgetown University Söhnke Bartram, Lancaster University, U.K. G. Andrew Karolyi, Ohio State University The Impact of the Introduction of the Euro on Foreign Exchange Rate Risk Exposures Discussant: Vihang Errunza, McGill University 9:50 Refreshment Break 10:10 Cheol Eun and Sandy Lai, Georgia Tech The Power Contest in FX Markets: The Euro vs. the Dollar Discussant: Yrjo Koskinen, Stockholm School of Economics Francesca Carrieri, Vihang Errunza, and Basma Majerbi, McGill University Global Price of Foreign Exchange Risk Discussant: Jay Choi, Temple University 12:00 Luncheon Keynote Address The Agency Costs of Overvalued Equity and the Current State of Corporate Finance Michael C. Jensen, Harvard Business School Venue: Ferst Art Center, Georgia Tech 2:20 Session II: Cross-Border Security Listings Chair: Andrew Karolyi, Ohio State University Nuno Fernandes, IESE Business School, Barcelona Market Liberalization: Spillovers from ADRs and Implications for Local Markets Discussant: Andrew Karolyi, Ohio State University Craig Doidge, University of Toronto U.S. Cross-listings and the Private Benefits of Control: Evidence from Dual Class Firms Discussant: Narayan Jayaraman, Georgia Tech Venkat Eleswarapu and Kumar Venkataraman, Southern Methodist University The Impact of Legal and Political Institutions on Equity Trading Costs: A Cross-Country Analysis Discussant: Jonathan Clarke, Georgia Tech 4:05 Refreshment Break 4:25 Session III: Financial Crises: Causes and Prevention Chair: Narayan Jayaraman, Georgia Tech Amar Gande, Vanderbilt University Kose John, New York University Lemma Senbet, University of Maryland The Role of Incentives in the Prevention of Financial Crises in Emerging Economies Discussant: Rajesh Chakrabarti, Georgia Tech Chitru Fernando, University of Oklahoma Richard Herring, University of Pennsylvania Commonality in Liquidity and Market Collapse: Theory and Application to the Market for Perps Discussant: Tarun Chordia, Emory 5:35 Cocktails Saturday, April 12, 2003 7:30 Coffee and Greetings 8:00 Session IV: Corporate Governance Issues Chair: Alexander Dyck, Harvard University Rui Castro, University of Montreal Gian Luca Clementi, Carnegie Mellon University Glenn MacDonald, Washington University Investor Protection, Optimal Incentives, and Economic Growth Discussant: Ajay Subramanian, Georgia Tech Anup Agrawal and Sahiba Chadha, University of Alabama Corporate Governance and Accounting Scandals Discussant: Florencio Lopez-de-Silanes, Yale University David Kuipers, Texas Tech University Darius Miller, Indiana University Ajay Patel, Wake Forest University The Legal Environment and Corporate Valuation: Evidence from Cross-Border Takeovers Discussant: Alexander Dyck, Harvard University 9:45 Refreshment Break 10:05 Session V: International Investment and Security Analysis Chair: Darius Miller, Indiana University Mariassunta Giannetti and Andrei Simonov, Stockholm School of Economics Which Investors Fear Expropriation?: Evidence from Investors’ Stock Picking Discussant: George Allayannis, University of Virginia Reena Aggarwal, Georgetown University Leona Klapper, The World Bank Peter D. Wysocki, MIT Portfolio Preferences of Foreign Institutional Investors Discussant: Darius Miller, Indiana University 11:15 Refreshment Break 11:30 Omesh Kini, Michael Rebello, and Anand Venkateswaran, Georgia State University Shehzad Mian, Emory University The Determinants of International Analyst Research Coverage Discussant: Karl Lins, University of Utah Arturo Bris, William Goetzman, and Ning Zhu, Yale University Efficiency and the Bear: Short Sales and Markets around the World Discussant: Bernard Yeung, New York University 12:40 Adjourn and Luncheon |