Biennial Symposium
Static and Dynamic Informational Issues in France
August 18-20, 1989
Friday, August 18
- Session I, Corporate Control: 8:30 a.m.-12:15 p.m.
- To the Raider Goes the Surplus? A Re-Examination of the Free-Rider Problem
- Authors:
- Bengt Holmstrom, Yale University
- Barry Nalebuff, Yale University
- Discussant:
- John Parsons, M.I.T.
- Role of White Knight Agreements, Lock Ups and Spin-Offs in Takeovers
- Authors:
- Elazar Berkovitch, University of Michigan
- Naveen Khanna, University of Michigan
- Discussant:
- B. Douglas Bernheim, Northwestern University
- You Can Fool Some of the People All of the Time: The Proxy Voting Process and Antigreenmail Charter Amendments
- Authors:
- Sanjai Bhagat, University of Utah
- Richard Jefferis, University of Utah
- Discussant:
- Sreenivas Kamma, Indiana University
- 12:15-2:00 p.m.
Lunch
- Session II, Initial Public Offerings: 2:00-4:30 p.m.
- Pre-Play Communication, Efficiency and IPO
- Authors:
- Chester Spatt, Carnegie-Mellon University
- Sanjai Srivastava, Carnegie-Mellon University
- Discussant:
- Robert Heinkel, University of British Columbia
- Rational Expectations, Disclosure, and the Underpricing of New Issues
- Author:
- Beth Allen, University of Pennsylvania
- Discussant:
- David Nachman, Georgia Institute of Technology
Saturday, August 19
- Session III, Product and Financial Market Interactions: 8:30-11:00 a.m.
- Financial Policy and a Firm’s Reputation for Product Quality
- Authors:
- Sheridan Titman, University of California-L.A.
- Vojislav Maksimovik, University of British Columbia
- Discussant:
- Steven Raymar, Indiana University
- Financial Disclosure Policy in an Entry Game
- Authors:
- Masako Darrough, Columbia University
- Neal Stoughton, University of California-Irvine
- Discussant:
- Yuk-Shee Chan, University of Southern California
- 11:00 a.m.-12:15 p.m.
- Informed Speculation in Large Markets
- Authors:
- Douglas Gale, University of Pittsburgh
- Martin Hellwig, University of Basel
- Discussant:
- Kerry Black, Indiana University
- 12:15-2:00 p.m.
Lunch
- 2:00-4:30 p.m.
- Auctions with Resale Markets: An Exploratory Model of Treasury Bill Markets
- Authors:
- Sushil Bikhchandani, U.C.L.A.
- Chi-fu Huang, M.I.T.
- Discussant:
- Arnoud W. A. Boot, Indiana University
- Insider Trading and the Efficiency of Stock Prices
- Authors:
- Michael Fishman, Northwestern University
- Kathleen Hagerty, Northwestern University
- Discussant:
- Robert Jennings, Indiana University
Sunday, August 20
- 8:30-9:45 a.m.
- Self-Generating Trade and Rational Fads: The Response of Price to New Information
- Authors:
- James Dow, London Business School
- Gary Gorton, University of Pennsylvania, The Wharton School
- Discussant:
- Robert Vishny, University of Chicago
- 9:45 a.m.-12:15 p.m.
- Panel discussion
- Discussants:
- Sheridan Titman, U.C.L.A.
- Chester Spatt, Carnegie-Mellon University
- Phil Dybvig, Washington University
