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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

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