Ninth Annual Mid-Atlantic Research Conference - 2014

9th Annual Mid-Atlantic Research Conference in Finance Program

Villanova School of Business
The Radnor Hotel, Radnor, PA

March 21, 2014

Registration and Coffee Session
Opening Remarks
8:45 Dean’s Welcome

Financial Institutions Session: Chair: John Sedunov III, Villanova U.

Bank Risk Management and Portfolio Diversification
Simon Firestone, Federal Reserve Board of Governors, and
Ke (Kelly) Wang, Federal Reserve Board of Governors

Discussant: N.K. Chidambaran, Fordham U. 

Sponsor-Underwriter Affiliation and the Performance of Non-Agency Mortgage Backed Securities
Peng (Peter) Liu, Cornell U., and Lan Shi, Office of the Comptroller of the Currency.
Discussant: Seoyoung Kim, Santa Clara U.

10:30 Coffee Break

Corporate Finance Session: Chair: Paul Brockman, Lehigh U.

Hedge Fund Boards
Christopher P. Clifford, U. of Kentucky, Jesse A. Ellis, North Carolina State U., and William C. Gerken, U. of Kentucky
Discussant: Naveen Daniel, Drexel U.

Does Shareholder Scrutiny Affect Executive Compensation? Evidence from Say-on-Pay Voting
Mathias Kronlund, U. of Illinois at Urbana-Champaign, and Shastri Sandy, U. of Missouri
Discussant: Lalitha Naveen, Temple U.

12:15 Lunch and Keynote Speaker
Ingrid Werner, Ohio State University
Topic: HFT: Friend or Foe?

Financial Markets / Market Microstructure Session: Chair: Pamela Moulton, Cornell U.

Can Brokers Have it all? On the Relation between Make-Take Fees and Limit Order Execution Quality
Robert Battalio, U. of Notre Dame, Shane Corwin, U. of Notre Dame, and Robert Jennings, Indiana U.
Discussant: Katya Malinova, University of Toronto

Institutional Trading around Corporate News: Evidence from Textual Analysis
Alan Guoming Huang, U. of Waterloo, Hongping Tan, U. of Waterloo, and Russ Wermers, University of Maryland
Discussant:  Amber Anand, Baruch College / CUNY

3:00 Coffee Break

Investments Session: Chair: Tuugi Chuluun, Loyola U. of Maryland

Investment and the Term Structure of Stock Returns
Sandra Mortal, U. of Memphis, and Michael J. Schill, U. of Virginia
Discussant: Jon Fulkerson, Loyola U. of Maryland

Aggregation of Information About the Cross Section of Stock Returns: A Latent Variable Approach
Nathaniel Light, Temple U., Denys Maslov, U. of Texas at Austin, and Oleg Rytchkov, Temple U.
Discussant: Nina Boyarchenko, Federal Reserve Bank of New York

4:45 Reception

MARC Program Track Chairs:

Financial Institutions: Michael Imerman, Lehigh U.

Corporate Finance: Sandra Mortal, U. of Memphis

Financial Markets / Market Microstructure: Pamela Moulton, Cornell U.

Investments: Michael Pagano, Villanova U.

MARC Outstanding Paper Award:
Hedge Fund Boards
Christopher P. Clifford, U. of Kentucky, Jesse A. Ellis, North Carolina State U., and William C. Gerken, U. of Kentucky