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Indiana University Bloomington

Department of Finance

Biennial Symposium

Our biennial symposium attracts internationally known scholars to Kelley to share their research.

Biennial Symposium

The Design of Contracts, Institutions, and Markets

August 22-25, 1991
Friday, August 23
Session I, Contract Design and Managerial Behavior: 8:30 a.m.- 12:30 p.m.
Managerial Bargaining Power in the Determination of Compensation Contracts and Corporate Investment
Authors:
Neal Stoughton, UC-Irvine
Eli Talmor, UC-Irvine and Tel Aviv University
Discussant:
Mark Bagnoli, Indiana University
Resolution Preference and Project Choice
Authors:
David Hirshleifer, UCLA
Tarun Chordia, UCLA
Discussant:
Robert Heinkel, UBC
Measurement Distortion and Missing Contingencies in Optimal Contracts
Authors:
Franklin Allen, Wharton
Douglas Gale, Pittsburgh
Discussant:
Patricia Wilson, Indiana University
12:30-2:15 p.m.

Lunch at the Tudor Room, Indiana Memorial Union

Session II, Debt Contracts and Renegotiation: 2:15-4:45 p.m.
Sovereign Debt: Optimal Contract, Underinvestment and Forgiveness
Authors:
Eduardo Schwartz, UCLA
Salvador Zurita, UCLA
Discussant:
Lemma Senbet, University of Maryland
Debt Covenants and Renegotiation
Authors:
Mitchell Berlin, NYU
Loretta Mester, Federal Reserve Bank of Philadelphia
Discussant:
Chris James, University of Florida
5:30 p.m.

Dinner at Siam House

Saturday, August 24
Session III, Design of the Corporation, Ownership Structure, and Related Issues: 8:30 a.m.-12:30 p.m.
Limitation of Liability and Corporate Form
Author:
Andrew Winton, Wharton
Discussant:
Sreenivas Kamma, Indiana University
Contributing Shares
Authors:
Michael Brennan, UCLA and London Business School
Ian Dunlop, University of Western Australia
Discussant:
Wayne Lee, Kent State University
12:30-2:15 p.m.

Lunch at Hunan House

Session IV, Market Design, Trading, and Related Issues: 2:15-4:45 p.m.
Asymmetric Information, The Third Market and Investor Welfare
Author:
Lawrence Glosten, Columbia
Discussant:
Craig Holden, Indiana University
Mandatory Disclosure of Trades and Market Liquidity
Authors:
Michael Fishman, Northwestern
Kathleen Hagerty, Northwestern
Discussant:
David Brown, Indiana University
Sunday, August 25
Session V, Design of Institutions, Financial Intermediation, and Regulation: 8:30 a.m.-12:30 p.m.
Optimal Contingent Bank Liquidation Under Moral Hazard
Authors:
Charles Calmiris, Northwestern
Charles Kahn, Illinois
Stephen Krasa, Illinois
Discussant:
Arnoud Boot, Northwestern
An Incentive-Based Theory of Bank Regulation
Authors:
Tim Campbell, USC
Yuk-Shee Chan, USC
Anthony Marino, USC
Discussant:
Stuart Greenbaum, Northwestern
Venture Capital Contracting in a Dynamic Context
Authors:
Anat Admati, Stanford
Paul Pfleiderer, Stanford
Motty Perry, Hebrew University
Discussant:
Dan Siegel, University of Washington