The Eleventh Assurant / Georgia Tech Conference

on International Finance

ORGANIZED BY

THE GEORGIA TECH FACULTY OF FINANCE

COLLEGE OF MANAGEMENT

WITH THE SUPPORT AND COLLABORATION OF THE

GEORGIA TECH CENTER FOR INTERNATIONAL BUSINESS EDUCATION AND RESEARCH (GT CIBER),

ATLANTA, GEORGIA,  USA

Thursday, April 7, 2005

6: 30pm   Reception and Conference Dinner

                Distinguished Speaker

                Gary B. Byrd, President and CEO, Pratt Financial Services

                Community Banks Competing in Global Markets               

                Venue: Georgia Tech Hotel and Conference Center

 

Friday, April 8

8:00   Registration and Coffee

          Venue: Executive Education Center - Room 316

          College of Management, Georgia Tech

8:25   Greeting

          Terry C. Blum, Dean, Georgia Tech College of Management

8:30   Introduction and Overview

          Cheol Eun, Georgia Tech  

8:35   Assurant Lecture

          Albert S. “Pete” Kyle, Duke University

          Market Microstructure and Rational Expectations: A Primer

9:10   Refreshment Break

9:25   Session I:  International Investment and Capital Markets

          Chair: Geert Bekaert, Columbia University

           Francesca Carrieri, McGill University

           Vihang Errunza, McGill University

           Sergei Sarkissian, McGill University

           The Dynamics of Geographic and Sectoral Diversification: Is There a Link to

           The Real Economy?

           Discussant: Geert Bekaert, Columbia University

           Warren Bailey, Cornell University

           Alok Kumar, University of Notre Dame

           David Ng, Cornell University

           Venturing Abroad: Foreign Investment of U.S. Individual Investors

           Discussant: Sergei Sarkissian, McGill University

10:25  Refreshment Break

10:45  Cheol Eun, Georgia Tech

           Jinsoo Lee, Georgia Tech

           Mean-Variance Convergence around the World

           Discussant:  John Griffin, University of Texas

           Stephen Brown, New York University

           William Goetzman, Yale University

           Takao Hiraki, Kwansei Gakuin University

           Noriyoshi Shiraishi, Rikkyo University

           Masahiro Watanabe, Rice University

           Investor Sentiment in Japanese and U.S. Daily Mutual Fund Flows

           Discussant: Yrjo Koskinen, Boston University

12:00  Luncheon Keynote Address

           Richard Roll, UCLA

           Why Many Developing Countries Just Aren’t?

           Venue: Georgia Tech Hotel and Conference Center          

2:15 Session II:  Culture and Economic Behavior

            Chair:  John Griffin, University of Texas

            Luigi Guiso, University of Sassari

          Paolo Sapienza, Northwestern University

          Luigi Zingales, University of Chicago

          Cultural Biases in Economic Exchange  

          Discussant: Jay Ritter, University of Florida

          Philip Brown, University of New South Wales

          Jason Mitchell, University of Michigan

          Culture and Stock Price Clustering

          Discussant:  Jonathan Clarke, Georgia Tech

          Rajesh Chakrabarti, Georgia Tech

          Narayan Jayaraman, Georgia Tech

          Swastika Mukherjee, Georgia Tech

          Mars–Venus Marriages: Culture and Cross-Border M&A

          Discussant:  Rocco Huang, The World Bank

3:45   Refreshment Break

4:05   Session III:  Cross-Border Investment and Financing

          Chair: Richard Levich, New York University

          Malcolm Baker, Harvard University

          Fritz Foley, Harvard University

          Jeffrey Wurgler, New York University

          Stock Market Valuation and Foreign Direct Investment

          Discussant: Craig Doidge, University of Toronto

         Matthew McBrady, University of Virginia

     Michael Schill, University of Virginia

         The Currency Denomination Decision: Do Firms Seek Bargains in

         International Bond Markets?          

         Discussant: Richard Levich, New York University

         George Allayannis, University of Virginia

         Gregory Brown, University of North Carolina

         Leora Klapper, The World Bank

         Legal Effectiveness and External Capital: The Role of Foreign Debt

         Discussant: Amar Gande, Vanderbilt University

5:35  Cocktails

 

Saturday, April 9

8:00  Coffee and Greetings

8:30  Session IV:  Cross-Listings and ADR Market

         Chair:  Jay Ritter, University of Florida

     Ole-Kristin Hope, University of Toronto

         Tony Kang, Singapore Management University

         Yoonseok Zang, Singapore Management University

         Bonding to the Improved Disclosure Environment in the U.S.: Firms’ Listing

         Choices and Their Capital Market Consequences

         Discussant:  Felix Oberholzer-Gee, Harvard University

         Craig Doidge, University of Toronto

         Andrew Karolyi, Ohio State University

         Karl Lins, University of Utah

         Darius Miller, Indiana University

         Rene Stulz, Ohio State University 

      Private Benefits of Control, Ownership, and the Cross-Listing Decision

         Discussant: Michael Schill, University of Virginia

9:30   Refreshment Break

9: 45  Kate Phylaktis, Cass Business School

          Piotr Korczak, University of Bristol

          Specialist Trading and the Price Discovery Process of NYSE-Listed

          Non-US Stocks

          Discussant: Michael Melvin, Arizona State University

          Paolo Pasquariello, University of Michigan

          Are Financial Crises Indeed “Crises”? Evidence from the Emerging

          ADR Market.

          Dsicusant: Suzanne Lee, University of Chicago

10:45  Refreshment Break

11:00  Session V:  Financial Integration, Economic Growth, and Welfare

           Chair:  Michael Melvin, Arizona State University

           Ross Levine, University of Minnesota

           Sergio Schmukler, The World Bank

           Internationalization and the Evolution of Corporate Valuation

           Discussant: Charles Trczinka, Indiana University

          Geert Bekaert, Columbia University

          Campbell Harvey, Duke University

          Christian Lundblad, Indiana University

          Stephen Siegel, Columbia University  

          Global Growth Opportunities and Market Integration

          Discussant: Rajesh Chakrabarti, Georgia Tech

          Charles Trzcinka, Indiana University

          Andrey Ukhov, Indiana University

          Financial Globalization and Risk Sharing: Welfare Effects and the

          Optimality of Open Markets

          Discussant: Gurdip Bakshi, University of Maryland

12:30  Adjourn and Luncheon

* All academic sessions will be held at Executive Education Room 316, College of

   Management, Georgia Tech, 800 West Peachtree Street, NW, Atlanta, GA 30332.

   FOR MORE INFORMATION:  CONTACT:  DR. CHEOL EUN,  cheol.eun@mgt.gatech.edu