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FDIC-JFSR 9th Annual Bank Research Conference: Governance and Compensation in the Financial Services Industry
Sponsored by the FDIC’s Center for Financial Research and The Journal of Financial Services Research L. William Seidman Center
The conference was held at:
The FDIC Virginia Square Facility, 3501 North Fairfax Drive, C-3050, Arlington, Virginia 22226.
Speakers' Biographies - PDF
Order hard copy of conference papers
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L. William Seidman Center
3501 N. Fairfax Drive - Hove Auditorium
Arlington, VA
Thursday, September 17, 2009
| 7:30-8:00AM | Registration & Continental Breakfast
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| 8:00 | Welcome remarks
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| 8:00-10:00 | Corporate Governance in the Financial Sector
Session Chair and Discussant: Lemma Senbet, University of Maryland
Executive Compensation and Policy Choices at U.S. Commercial Banks
Robert DeYoung, University of Kansas
Emma Peng, Fordham University
Meng Yan, Fordham University
Bank CEO Incentives and the Credit Crisis
Rüdiger Fahlenbrach, Ecole Polytechnique Fédérale de Lausanne
René Stulz, Ohio State University
Corporate Governance in the Recent Financial Crisis: Evidence from Financial
Institutions Worldwide - PDF
David Erkens, University of Southern California
Mingyi Hung, University of Southern California
Pedro Matos, University of Southern California
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| 10:00-10:30 | Coffee Break
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| 10:30-12:30 | Governance and Bank Lending Behavior
Session Chair and Discussant: Hamid Mehran, Federal Reserve Bank of New York
How Committed Are Bank Lines of Credit? Evidence from the Subprime Mortgage
Crisis
Rocco Huang, Federal Reserve Bank of Philadelphia
The Impact of the U.S. Financial Crisis on Global Retail Lending
Manju Puri, Duke University
Jörg Rocholl, ESMT European School of Management and Technology
Sascha Steffen, University of Mannheim
Liberalization, Corporate Governance, and Savings Banks - PDF
Manuel Illueca, Universitat Jaume I
Lars Norden, University of Mannheim
Gregory Udell, Indiana University
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| 12:30-1:30 | Lunch
Luncheon Address: Kenneth R. Feinberg - PDF, Special Master for Executive Compensation
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| 1:30-3:30 | Rating Agency Incentives
Session Chair and Discussant: Anjan Thakor, Washington University
MBS ratings and the Mortgage Credit Boom
Adam Ashcraft, Federal Reserve Bank of New York
Paul Goldsmith-Pinkham, Federal Reserve Bank of New York
James Vickery, Federal Reserve Bank of New York
Credit Rating Accuracy and Incentives
Robert Jarrow, Cornell University
Liheng Xu, Cornell University
Credit-Rating Shopping, Selection and the Equilibrium Structure of Ratings
Francesco Sangiorgi, Stockholm School of Economics
Jonathan Sokobin, U.S. Securities and Exchange Commission
Chester Spatt, Carnegie Mellon University
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| 3:30-4:00 | Coffee Break
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| 4:00-5:30 | Further Considerations in Incentive Structures
Managerial Incentives in the Presence of Envious Workers - PDF
Konstantinos Tzioumis, Office of the Comptroller of the Currency
Rafael Gomez, University of Toronto
Discussant: David Musto, University of Pennsylvania
Financial Expertise as an Arms Race - PDF
Vincent Glode, University of Pennsylvania
Richard Green, Carnegie Mellon University
Richard Lowery, University of Texas at Austin
Discussant: Mark Loewenstein, University of Maryland
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| 5:30-6:30 | Reception
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Friday, September 18, 2009
| 8:00-8:30AM | Continental Breakfast
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| 8:30-10:30 | Household Finance
Session Chair and Discussant: Peter Tufano, Harvard University
Information Disclosure, Cognitive Biases and Payday Borrowing - PDF
Marianne Bertrand, University of Chicago
Adair Morse, University of Chicago
Your House or Your Credit Card, Which Would You Choose? Personal
Delinquency Tradeoffs and Precautionary Liquidity Motives - PDF
Ethan Cohen-Cole, University of Maryland
Jonathan Morse, Federal Reserve Bank of Boston
Do Financial Counseling Mandates Improve Mortgage Choice and Performance? Evidence from a Legislative Experiment
Sumit Agarwal, Federal Reserve Bank of Chicago
Gene Amromin, Federal Reserve Bank of Chicago
Itzhak Ben-David, Ohio State University
Souphala Chomsisengphet, Office of the Comptroller of the Currency
Douglas Evanoff, Federal Reserve Bank of Chicago
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| 10:30-11:00 | Coffee Break
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| 11:00-12:30 | The Subprime Crisis
Session Chair and Discussant: Ronel Elul, Federal Reserve Bank of Philadelphia
Where’s the Smoking Gun? A Study of Underwriting Standards for US Subprime
Mortgages - PDF
Geetesh Bhardwaj, The Vanguard Group
Rajdeep Sengupta, Federal Reserve Bank of St. Louis
Accounting discretion of banks during a financial crisis - PDF
Harry Huizinga, Tilburg University
Luc Laeven, International Monetary Fund
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| 12:30 | Lunch and Adjourn
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Program Committee
Viral Acharya (New York University), Stijn Claessens (International Monetary Fund), Michael Faulkender (University of Maryland), Kose John (New York University), Robert Marquez (Boston University), David Musto (University of Pennsylvania), Mitchell Petersen (Northwestern University), Cathy Schrand (University of Pennsylvania), Til Schuermann (Federal Reserve Bank of New York), Peter Tufano (Harvard University), Rohan Williamson (Georgetown University)
Conference Organizers: Paul Kupiec (FDIC) and Haluk Ünal
(University of Maryland and JFSR)
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