History of the Annual Conference on
Financial Economics and Accounting
by CHENG-FEW LEE
Rutgers University Conference co-ordinator
E-mail: lee@business.rutgers.edu
On October 19 & 20, 1990, the First Conference on Financial Economics and Accounting was held at Rutgers University, School of Business, New Brunswick, NJ. This year will be the Twentieth anniversary of this conference.
Three days before the First Conference on Financial Economics and Accounting, three finance professors, Harry Markowitz, Merton Miller, and William Sharpe, were awarded the Nobel Prize in Economics. This was the first time that that prestigious award was given to members of the finance community.
Because of this, as organizer of the Conference on Financial Economics and Accounting, I added a special session to discuss this event. Professor Stephen Ross of Yale University was the session chair for this special session to discuss the contribution of these three Nobel Prize winners. The result of this discussion has been published in the Review of Quantitative Finance and Accounting (RQFA), 1991, Vol. 1, No. 2.
The following is an overall summary for all the conferences in which I have presented the Program Directors, Executive Committee Members, Sponsors, Key note speakers and Session Titles.
A. First Conference: October 19 & 20, 1990, School of Business, Janice H. Levin Building, Rutgers University, New Brunswick, NJ.
Keynote Speakers: Stephen Ross, Yale University
Topic: “Financial Innovation and Financial Regulation”
John Y. Campbell, Princeton University
Topic: “A Variance Decomposition for Stock Returns”
Program Director: Cheng-few Lee, School of Business, Rutgers University
Associate Director: Bikki Jaggi, School of Business, Rutgers University
Executive Committee Members: Victor Bernard, University of Michigan; Edwin Burmeister, University of Virginia; Vihang Errunza, McGill University; Jack Clark Francis, Baruch College; Frank C. Jen, SUNY at Buffalo; Kose John, New York University; Richard Kihlstrom, University of Pennsylvania; E. Han Kim, University of Michigan; Kenneth Lawrence, Rutgers University; James C. McKeown, Pennsylvania State University; Todd Petzel, Chicago Mercantile Exchange and Robert E. Verrecchia, University of Pennsylvania.
Sponsors: Center for Management Development, Rutgers University, Chicago Mercantile Exchange, Dun & Bradstreet, Treasury Management Association of New Jersey, New Jersey Center for Research in Financial Services, Graduate School of Management, Rutgers University, and the School of Business, Rutgers University.
October 19, 1990: Opening Remarks
Session Titles:
Session I: APT and Asset Pricing: Theory and Application
Session Chair: Edwin Burmeister, Duke University and the University of Virginia
Session II: Capital Budgeting and Investment Decision
Session Chair: Ken Lawrence, Rutgers University
Session III: Options and Futures: Theory and Application
Session Chair: Todd Petzel, Chicago Mercantile Exchange
Session IV: Financial Analysis and Analytical Finance
Session Chair: Jack Clark Francis, Baruch College
Session V: Financial Contracting and Agency Cost
Session Chair: Elazar Berkovitch, University of Michigan
Session VI: Research Methods in Accounting and Finance
Session Chair: Victor Bernard, University of Michigan
Session VII: Financial Accounting
Session Chair: James McKeown, Pennsylvania State University
Session VIII: Information and Market Structure
Session Chair: Richard Kihlstrom, University of Pennsylvania
Session IX: Signaling Theory: Theory and Application
Session Chair: Kose John, New York University
Session X: International Finance
Session Chair: Vihang Errunza, McGill University
B. Second Conference: SUNY at Buffalo, September 12 & 13, 1991, Buffalo, New York
Keynote Speaker: Michael J. Brennan, University of California at Los Angeles
Topic: “Future Research in Finance and Accounting”
Program Director: Frank C. Jen, School of Management, State University of New York at Buffalo
Co-Director: Lawrence D. Brown, School of Management, State University of New York at Buffalo
Executive Committee Members: Cheng-few Lee, Rutgers University (ex-officio); Victor L. Bernard, University of Michigan; Lawrence D. Brown, State University of New York at Buffalo; Edwin Burmeister, Duke University; Naifu Chen, University of California-Irvine; George Constantinides, University of Chicago; Robin Cooper, Harvard University; Nicholas Dopuch, Washington University; Jack Francis, CUNY-Baruch; Stuart Greenbaum, Northwestern University; Martin Gruber, New York University; Chi-Fu Huang, Massachusetts Institute of Technology; Frank C. Jen, State University of New York at Buffalo; Richard Kihlstrom, University of Pennsylvania; Stanley Kon, University of Michigan; Baruch Lev, University of California-Berkeley; James C. Oldfield, Paine Webber, Inc.; Todd E. Petzel, Chicago Mercantile Exchange; Joshua Ronen, New York University; Jay Shanken, University of Rochester; Rene Stultz, Ohio State University; Arthur Stampleman, Citibank; Robert E. Verrecchia, University of Pennyslvania and Jerold L. Zimmerman, University of Rochester.
Sponsors: Chicago Mercantile Exchange, Citibank NA, Citibank (New York State), David Berdon & Co., Key Bank of Western New York, New Jersey Center for Research in Financial Services, Review of Quantitative Finance and Accounting, Treasury Management Association of New Jersey and Value Line, Inc.
September 12, 1991: Welcoming Remarks
Session Titles:
Session I: Financial Statement Analysis & Market Efficiency
Session Chair: Victor L. Bernard, University of Michigan
Session II: Dynamic Choice
Session Chair: Eric Hughson, California Institute of Technology
Session III: Determinants of the Supply of Financial Information
Session Chair: Joshua Ronen, New York University
Session IV: Corporate Finance I
Session Chair: Michael Bradley, University of Michigan
Session V: Options and Futures
Session Chair: Todd Petzel, Chicago Mercantile Exchange
Session VI: Methodological Issues In Financial And Accounting Research
Session Chair: Edwin Burmeister, Duke University
Session VIII: Topics In Tax Research
Session Chair: Jerold L. Zimmerman, University of Rochester
Session IX: Theories Of Financial Markets
Session Chair: John S. Hughes, University of Minnesota
Session X: Corporate Finance II
Session Chair: Lemma Senbet, University of Maryland
Session XI: Empirical Studies In Capital Markets I
Session Chair: Baruch Lev, University of California at Berkeley
Session XII: Issues In Portfolio and Investment Management
Session Chair: Edwin Elton, New York University
Session XIII: The Role Of Information In Accounting Theory
Session Chair: Robert E. Verrecchia, University of Pennsylvania
Session XIV: Fixed Income Securities
Session Chair: George Oldfield, Paine Webber, Inc.
Session XV: Use Of Experimental Markets In Accounting And Finance
Session Chair: Nicholas Dopuch, Washington University
Session XVI: Empirical Studies In Capital Markets II
Session Chair: James C. McKeown, Pennsylvania State University
Session XVII: Recent Advances In Management Accounting
Session Chair: Robin Cooper, Harvard University
Session XVIII: Commercial Banking
Session Chair: Michael Rozeoff, State University of New York at Buffalo
C. Third Conference: November 6 & 7, 1992, Leonard N. Stern School of Business, New York University, New York.
Keynote Speakers: Robert H. Litzenberger, University of Pennsylvania,
Topic: “Are Asset Side Swaps Zero Sum Games or Return Enhancement Vehicles?”
Joel Demski, Yale University,
Topic: “Does Accounting Provide Information?”
Renee Stulz, Ohio State University,
Topic: “Managerial Discretion, Investment Opportunities, and the Security Issue Decision”
Program Chairmen: Martin Gruber, Stern School of Business
Joshua Ronen, Stern School of Business
Program Coordinators: John Bildersee, Stern School of Business
Aswath Damodaran, Stern School of Business
Executive Committee Members: Lawrence Brown, SUNY at Buffalo; Edwin Burmeister, Duke University; Nick Dopuch, Washington University in St. Louis; Philip Dybvig, Washington University in St. Louis; Martin Gruber, Stern School of Business; Chi-Fu Huang, Massachusetts Institute of Technology; Bikki Jaggi, Rutgers University; Frank Jen, SUNY at Buffalo; E. Han Kim, University of Michigan; Cheng-few Lee, Rutgers University; Ex-Officio, Baruch Lev, University of California at Berkeley; George Oldfield, Paine Webber, Inc.; Joshua Ronen, Stern School of Business; Lemma Senbet, The University of Maryland and Robert Verrecchia, University of Pennsylvania.
Sponsors: Finance Department, Stern School of Business, Vincent C. Ross Institute of Accounting Research, New York University Salomon Center, Accounting Department, Stern School of Business, Price Waterhouse, I/B/E/S, Chicago Mercantile Exchange, Treasury Management Association of New Jersey and the New Jersey Center for Research in Financial Services.
Friday, November 6, 1992: Welcoming Remarks
Session Titles:
Session I: Empirical Issues In Finance Ð I
Session Chair: Aswath Damodaran, Stern School of Business
Session II: Agency Issues In Finance
Session Chair: Kose John, Stern School of Business
Session III: The Role Of Information In Accounting Theory
Session Chair: Robert E. Verrecchia, University of Pennsylvania
Session IV: Option Pricing
Session Chairs: Cheng-few Lee, Rutgers University and Todd Petzel, Chicago Mercantile Exchange
Session V: Agency And Signalling In Accounting
Session Chair: Kashi R. Balachandran, Stern School of Business
Session VI: New Directions In Market Based Research
Session Chair: James A. Ohlson, Columbia University
Session VII: Empirical Methods In Finance Ð II
Session Chair: Edwin Burmeister, Duke University
Session VIII: Corporate Finance
Session Chair: E. Han Kim, University of Michigan
Session IX: Issues In Financial Reporting Strategy
Session Chair: Victor L. Bernard, University of Michigan
Session X: International Finance
Session Chair: Lemma Senbet, University of Maryland
Session XI: Financial Institutions
Session Chair: Joel Hasbrouck, Stern School of Business
Session XII: Financial Forecasting
Session Chair: Lawrence D. Brown, SUNY at Buffalo
Session XIII: Taxes And Contracting: Theories And Tests
Session Chair: Jerold L. Zimmerman, University of Rochester
Session XIV: PLENARY SESSION
Session XV: Price And Volume
Session Chair: Chi-Fu Huang, MIT
Session XVI: Using Experimental Markets In Accounting And Financial Research
Session Chair: Nicholas Dopuch, Washington University in St. Louis
Session XVII: Fundamental Financial Analysis
Session Chair: Baruch Lev, University of California at Berkeley
D. Fourth Conference: Washington University in St. Louis, October 1 & 2, 1993
Executive Committee Members: Joshua Ronen and Martin Gruber, New York University; Cheng-few Lee (ex-officio); Bikki Jaggi, Rutgers University; Frank Jen and Lawrence Brown, State University of New York at Buffalo; Nick Dopuch and Philip Dybvig, Washington University in St. Louis; E. Han Kim. University of Michigan; Edwin Burmeister, Duke University; Baruch Lev, University of California at Berkeley; George Oldfield, Paine Webber, Inc.; Chi-Fu Huang, Massachusetts Institute of Technology; Robert Verrecchia, University of Pennsylvania and Lemma Senbet, University of Maryland.
Sponsors: Olin School of Business, New Jersey Center for Research in Financial Services, Chicago Mercantile Exchange and the Review of Quantitative Finance and Accounting.
Session Titles:
Session I: Field Studies in Managerial Accounting
Session Chair: Strikant Datar, Stanford University
Session II: Analytical Financial Reporting Models
Session Chair: Ron Dye, Northwestern University
Session III: Joint versus Several Liability Rules in Auditing and Other Professions
Session Chair: Nicholas Dopuch, Washington University in St. Louis
Session IV: Fundamental Analyses in Accounting
Session Chair: Baruch Lev, University of California at Berkeley
Session V: Microstructure Research in Accounting
Session Chair: Joshua Ronen, New York University
Session VI: Legal Implications of Financial Disclosures
Session Chair: Katherine Schipper, University of Chicago
Session VII: Microstructure
Session Chair: Kerry Back, Washington University in St. Louis
Session VIII: Asset Pricing
Session Chair: Robert Korzjczyk, Northwestern University
Session IX: Corporate Finance
Session Chair: Doug Diamond, University of Chicago
Session X: Empirical Issues
Session Chair: Chris Lamoureux, Washington University in St. Louis
Session XI: Options and Futures
Session Chair: C.F. Lee, Rutgers University and Todd Petzel, Chicago Mercantile Exchange
Session XII: Banking
Session Chair: Anjan Thakor, Indiana University
E. Fifth Conference: The University of Michigan School of Business Administration October 21 & 22, 1994
Keynote Speaker: Eugene Fama, University of Chicago
Topic: “Perspectives on Testing Asset Pricing Models”
Program Chairs: Victor Bernard, Paton Accounting Center, University of Michigan E. Han Kim, Mitsui Life Financial Research Center, University of Michigan
Program Coordinators: Sandy Stapish, Mitsui Life Financial Research Center Dan Ebels, Mitsui Life Financial Research Center
Executive Committee Members: Victor Bernard, University of Michigan; Lawrence Brown, SUNY, Buffalo, Edwin Burmiester, Duke University; Nick Dopuch, Washington University; Philip Dybvig, Washington University, Martin Gruber, New York University; Chi-Fu Huang, Massachusetts Institute of Technology; Bikki Jaggi, Rutgers University; Frank Jen, SUNY, Buffalo; E. Han Kim, University of Michigan; Cheng-few Lee, Rutgers University (ex-officio); Baruch Lev, University of California at Berkeley; George Oldfield, Paine Webber, Inc.; Joshua Ronen, New York University; Lemma Senbet, University of Maryland and Robert Verrecchia, University of Pennsylvania.
Sponsors: Mitsui Life Financial Research Center, Paton Accounting Center, Michigan Business School, Conference on Financial Economics and Accounting (CFEA) and the Review of Quantitative Finance and Accounting (RQFA).
Session Titles:
Session I: International Finance
Session Chair: Rene Stulz, Ohio State University
Session II: Valuation And Accounting Earnings
Session Chair: S.P. Kothari, University of Rochester
Session III: Corporate Finance and Control
Session Chair: G. William Schwert, University of Rochester
Session IV: Investor Behavior and Price Formation
Session Chair: Charles Lee, University of Michigan
Session V: Explaining Returns on Stocks and Bonds
Session Chair: John McConnell, Purdue University
Session VI: Shareholder Litigation
Session Chair: Katherine Schipper, University of Chicago
Session VII: Market Microstructure
Session Chair: Chester Spatt, Carnegie Mellon University
Session VIII: Voluntary Financial Disclosure
Session Chair: Russell Lundholm, University of Michigan
Session IX: Strategic Positioning in Corporate Finance
Session Chair: David Hirshleifer, University of Michigan
Session X: Financial Statement Analysis
Session Chair: Jim Ohlson, Columbia University
Session XI: Options and Futures
Session Chair: Cheng-few Lee, Rutgers University
Session XII: Financial Accounting
Session Chair: Joshua Ronen, New York University
F. Sixth Conference: The University of Maryland, College of Business and Management, College Park, Maryland, November 10 & 11, 1995
Keynote Speakers: Stephen Ross, Yale University
Topic: “Real Option and Management Decisions”
Commissioner Steven Wallman, U.S. Securities and Exchange Commission
Program Chairs: Finance: Lemma W. Senbet and Kathleen Weiss Hanley University of Maryland; Accounting: Lawerence A. Gordon and Stephen E. Loch University of Maryland
Executive Committee Members: Victor Bernard, University of Michigan; Lawrence Brown, SUNY-Buffalo; Edwin Burmeister, Duke University; Nick Dopuch, Washington University; Philip Dybvig, Washington University; Martin Gruber, New York University; Bikki Jaggi, Rutgers University; Frank Jen, SUNY-Buffalo; E. Han Kim, University of Michigan; Cheng-few Lee, Rutgers University (Ex-Officio); Baruch Lev, University of California at Berkeley; Martin Loeb, University of Maryland; Todd Petzel, Chicago Mercantile Exchange; Joshua Ronen, New York University; Lemma Senbet, University of Maryland and Robert Verrecchia, University of Pennsylvania.
Sponsors: Chicago Mercantile Exchange, Treasury Management Association of New Jersey, New Jersey Center for Research in Financial Services, Accounting Department, University of Maryland, Finance Department, University of Maryland, The Journal of Accounting and Public Policy and The Review of Quantitative Finance and Accounting.
Session Titles:
Session I: Strategic Cost and Global Competitiveness
Session Chair: Mahendra Gupta, Washington University
Session II: International Finance
Review of Quantitative Finance and Accounting Session
Session Chair: C.F. Lee, Rutgers University
Session III: Financial Forecasting
Session Chair: Lawrence Brown, SUNY at Buffalo
Session IV: Derivatives
Session Chair: Robert Jarrow, Cornell University
Session V: Financial Accounting I
Session Chair: Oliver Kim, University of Maryland
Session VI: Market Microstructure
Session Chair: Charles Lee, University of Michigan and NYSE
Session VII: Financial Accounting II
Session Chair: Joshua Ronen, New York University
Session VIII: Contract Design and Financial Intermediation
Session Chair: Franklin Allen, University of Pennsylvania
Session IX: Earnings Management
Session Chair: Patricia M. Deechow, University of Pennsylvania
G. Seventh Conference: November 8 & 9, 1996, School of Business, Janice H. Levin Building, Rutgers University, New Brunswick, NJ
Keynote Speaker: Martin Gruber, New York University
Topic: “Mutual Funds and Risk”
Program Directors: Finance: Cheng-few Lee, Rutgers University; Accounting: Bikki Jaggi, Rutgers University
Associate Directors: Finance: Ivan Brick, Rutgers University; Accounting: Miklos Vasarhelyi, Rutgers University
Executive Committee Members: Lawrence Brown, SUNY-Buffalo; Edwin Burmeister, Duke University; Nick Dopuch, Washington University; Philip Dybvig, Washington University; Martin Gruber, New York University; Bikki Jaggi, Rutgers University; Frank C. Jen, SUNY-Buffalo; E. Han Kim, University of Michigan; Cheng-few Lee, Rutgers University (conference co-ordinator); Baruch Lev, New York University; Martin Loeb, University of Maryland; Russell Lundholm, University of Michigan; Todd Petzel, The Common Fund; Joshua Ronen, New York University; Lemma Senbet, University of Maryland, Robert Verrecchia, University of Pennsylvania.
Sponsors: Arthur Andersen, Accounting Research Center - Rutgers University, Coopers
& Lybrand, Faculty of Management - Rutgers University, Governmental Accounting Program - Rutgers University, I/B/E/S International, Inc., Johnson & Johnson, New Jersey Center for Research in Financial Services, Office of the Provost, Review of Quantitative Finance and Accounting (RQFA) and Warner-Lambert.
Friday, November 8, 1996: Opening Remarks
Session Titles:
Session I: Financial Accounting I
Session Chair: Nick Dopuch, Washington University at St. Louis
Session II: Financial Intermediation
Session Chair: Mark J. Flannery, University of Florida
Session III: Investment Perspectives For Institutional Investors
Session Chair: James Bicksler, Rutgers University
Session IV: Financial Accounting II
Session Chair: Rashad Abdel-khalik, University of Florida
Session V: Contingent Claims, Executive Compensation and Dynamic
Security Markets
Session Chair: Charles Jones, Princeton University
Session VI: Financial Forecasting
Session Chair: Lawrence D. Brown, SUNY - Buffalo
Session VII: International Finance
Session Chair: Frank C. Jen, SUNY - Buffalo
Session VIII: Accounting Information Systems
Session Chair: Mikkos Vasahelyi, Rutgers University
Session IX: Positive Accounting Theory
Session Chair: Ross L. Watts, University of Rochester
Session X: Corporate Finance and Restructuring
Session Chair: Lemma Senbet, University of Maryland
Session XI: Topics Dedicated to the Memory of Professor Victor Bernard
Session Chair: Jacob Thomas, Columbia University
Session XII: Market Microstructure
Session Chair: Larry R. Glosten, Columbia University
Session Co-Chair: Robert Schwartz, New York University
Session XIII: Empirical Studies of Asset Pricing
Session Chair: Wayne Ferson, University of Washington
Session XIV: Earnings Management and Disclosure Policy
Session Chair: Baruch Lev, New York University
Session XV: Mutual Fund Management
Session Chair: Steven Brown, New York University
Session XVI: Insurance Theory and Practice
Session Chair: J. David Cummins, University of Pennsylvania
Session XVII: Valuation Issues and Disclosures
Session Chair: James McKeown, Penn State University
Session XVIII: Derivatives
Session Chair: Kerry E. Back, Washington University at St. Louis
Session Co-Chair: Guofu Zhou, Washington University at St. Louis
Session XIX: Valuation of the Firm
Session Chair: Nejat H. Seyhun, University of Michigan
H. Eighth Conference: SUNY - Buffalo, November 7 & 8, 1997
Keynote Speaker: Professor Michael Jensen, Harvard University
Topic: “The Brain and Non-Rational Behavior”
Program Directors: Accounting: Lawrence Brown, Georgia State University; Finance : Michael Rozeoff, State University at Buffalo
Executive Committee Members: Lawrence Brown, Georgia State University; Edwin Burmeister, Duke University; Nick Dopuch, Washington University; Philip Dybvig, Washington University; Martin Gruber, New York University; Bikki Jaggi, Rutgers University; Frank C. Jen, State University at Buffalo; E. Han Kim, University of Michigan; Cheng-few Lee (conference co-ordinator), Rutgers University; Baruch Lev, New York University; Martin Loeb, University of Maryland; Russell Lundholm, University of Michigan;Todd Petzel, The Common Fund; Joshua Ronen, New York University; Michael S. Rozeoff, State University at Buffalo; Lemma Senbet, University of Maryland and Robert Verrecchia, University of Pennsylvania.
Sponsors: ADP/The DAIS Group, Department of Accounting & Law-University at Buffalo, Department of Finance and Managerial Economics-University at Buffalo, I/B/E/S International, Inc., New Jersey Center for Research in Financial Services, Review of Quantitative Finance and Accounting-Kluwer Academic Publishers, School of Management-University at Buffalo and Value Line, Inc.
Friday, November 7, 1997: Opening Remarks
Session Titles:
Session I: Control and Performance Evaluation
Session Chair: Raffi Indejkian, University of Michigan
Session II: Empirical Investment Analysis
Session Chair: Louis K.B. Chan, University of Illinois
Session III: Intangibles
Session Chair: Baruch Lev, New York University
Session IV: Corporate Finance and Restructuring
Session Chair: Lemma Senbet, University of Maryland
Session V: Earnings Expectations and Share Prices: Practitioners' Perespectives
Session Chair: Charles Trzcinka, University at Buffalo
Session VI: Valuation and Corporate Finance
Session Chair: Gershon Mandelker, University of Pittsburgh
Session VII: Experimental Studies in Capital Markets
Session Chair: Nick Dopuch, Washington University
Session VIII: Options and Futures
Session Chair: C.F. Lee, Rutgers University
Session IX: What Every Corporate Treasurer Should Know
Session Chair: Anand Vijh, University of Iowa
Session X: International Accounting
Session Chair: Gordon Richardson, University of Waterloo
Session XI: Mutual Fund Management
Session Chair: Martin Gruber, New York University
Session XII: Determinants of Financial Structure
Session Chair: David Denis, Pourdue University
Session XIII: Financial Disclosure
Session Chair: Joshua Ronen, New York University
Session XIV: Portfolio Management
Session Chair: Ed Burmeister, Duke University
Session XV: Issues in Asset Pricing
Session Chair: Gautam Kaul, University of Michigan
Session XVI: Analyst Forecasts
Session Chair: Ross Watts, University of Rochester
Session XVII: Earnings and Capital Markets
Session Chair: Bikki Jaggi, Rutgers University
I. Ninth Conference: November 6 & 7, 1998, New York University, Stern School of Business
Keynote Speaker: Stewart C. Meyers, Massachusetts Institute of Technology
Topic: “Financial Structures”
Program Directors: Accounting: Baruch Lev and Joshua Ronen, New York University
Finance: Eli Ofek and Martin Gruber, New York University
Sponsors: New York University-Stern School of Business: Department of Accounting, Taxation and Business Law, Department of Finance and the Vincent C. Ross Institute of Accounting Research, The New Jersey Center for Research in Financial Services and the Review of Quantitative Finance and Accounting.
Session Titles:
Session I: Stock Returns and Accounting Information
Session Chair: Paul Zarowin, New York University
Session II: Capital Structure
Session Chair: C.F. Lee, Rutgers University
Session III: Measuring Value Relevance of Accounting Disclosures
Session Chair: Peter Easton, Ohio State University
Session IV: Asset Pricing
Session Chair: Anthony Lynch, New York University
Session V: Accounting Based Valuation
Session Chair: Charles M.C. Lee, Cornell University
Session VI: Empirical Studies in Managerial Accounting
Session Chair: Nicholas Dopuch, Washington University
Session VII: Investments
Session Chair: Ehud Ronn, Univerity of Texas, Austin
Session VIII: Information, Accruals, and Discretionary Disclosure
Session Chair: Eli Bartov, New York University
Session IX: Derivatives and Hedging
Session Chair: Stephen Figlewski, New York University
Session X: Corporate Valuation and Reorganization
Session Chair: Philip Berger, Massachusetts Institute of Technology
Session XI: Bias in Analysts' Forecasts
Session Chair: Lawrence D. Brown, Georgia State University
Session XII: Investment Strategies
Session Chair: Charles Trzcinka, SUNY at Buffalo
Session XIII: Banking, Investment Banking, and External Financing
Session Chair: Philip Dybvig, Washington University
Session XIV: Analytical Modeling in Accounting Research
Session Chair: Joshua Ronen, New York University
Session XV: Corporate Governance
Session Chair: Lemma Senbet, University of Maryland-College Park
J. Tenth Conference: October 29-30, 1999, University of Texas at Austin
Keynote Speaker: Robert H. Litzenberger, The Goldman Sachs Group
Topic: “Risk Management in the Period of Market Stress”
Program Directors: Accounting: Eric Hirst and Senyo Tse, University of Texas at Austin
Finance: Robert Parrino and Ehud Ronn, University of Texas at Austin
Executive Committee Members: Lawrence Brown, Georgia State University; Edwin Burmeister, Duke University; Nicholas Dopuch, Washington University; Philip Dybvig, Washington University; Martin Gruber, New York University; Eric Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Frank C. Jen, State University of New York at Buffalo; E. Han Kim, University of Michigan; Cheng few Lee, Rutgers University; Baruch Lev, New York University; Martin Loeb, University of Maryland; Russell Lundholm, University of Michigan; Eli Ofek, New York University; Todd Petzel, The Common Fund; Joshua Ronen, New York University; Ehud Ronn, University of Texas at Austin; Michael S. Rozeoff, State University of New York at Buffalo; Lemma Senbet, University of Maryland and Robert Verrecchia, University of Pennsylvania.
Sponsors: College and Graduate School of Business - The University of Texas at Austin: Department of Accounting - Department of Finance, The New Jersey Center for Research in Financial Services, Review of Quantitative Finance and Accounting and The National Association of Securities Dealers.
Session Titles:
Session I: Raising Capital
Session Chair: Paul Malatesta, University of Washington
Session II: Stock Options
Session Chair: Rowland Atiase, University of Texas
Session III: Financial Analysts' Forecasts
Session Chair: Debra Krolick, Washington University
Session IV: Institutional Investors
Session Chair: Laura Starks, University of Texas
Session V: Investment and Financing Decisions
Session Chair: Robert Parrino, University of Texas
Session VI: Financial Analysts' Forecasts and Valuations
Session Chair: Larry Brown, Georgia State University
Session VII: Asset Pricing
Session Chair: Cheng-Few Lee, Rutgers University
Session VIII: Taxes and Corporate Finance
Session Chair: Sheridan Titman, University of Texas
Session IX: Compensation
Session Chair: Connie Weaver, University of Texas
Session X: Methodological Advances
Session Chair: Robert Freeman, University of Texas
Session XI: Stock Return Predictability
Session Chair: Dave Chapman, University of Texas
Session XII: Agency and Managerial Incentives
Session Chair: Lemma Senbet, University of Maryland
Session XIII: Financial Accounting
Session Chair: Steve Kachelmeier, University of Texas
Session XIV: Earnings Management
Session Chair: Kate Campbell, University of Maryland
Session XV: Joint Session
Session Chair: Eric Hirst, University of Texas
Session XVI: Derivatives
Session Chair: Ehud Ronn, University of Texas
Session XVII: Other Agency Issues (finance)
Session Chair: Scott Lee, Texas A&M University
Session XVIII: Regulated Industries (accounting and finance)
Session Chair: Joshua Ronen, New York University
Session XIX: Environmental and Voluntary Disclosures (accounting)
Session Chair: Stephen T. Limberg, University of Texas at Austin
-
Eleventh Conference: November 3 & 4, 2000, The University of Michigan School of Business Administration
Keynote speaker: Myron S. Scholes, Nobel Laureate
Topic: Chaos and the Evolution of Risk Management
Program Director: Accounting: Eugene Imhoff, University of Michigan; Finance: E. Han Kim, University of Texas at Austin; Sugato Bhattacharyya, University of Michigan
Executive Committee Members: Lawrence Brown, Georgia State University; Edwin Burmeister, Duke University; Nicholas Dopuch, Washington University; Philip Dybvig, Washington University; Martin Gruber, New York University; Eric Hirst, University of Texas at Austin; Eugene Imhoff, University of Michigan; Bikki Jaggi, Rutgers University; E. Han Kim, University of Michigan; Cheng Few Lee, Rutgers University; Baruch Lev, New York University; Martin Loeb, University of Maryland; Russell Lundholm, University of Michigan; Eli Ofek, New York University; Todd Petzel, The Common Fund; Joshua Ronen, New York University; Ehud Ronn, University of Texas at Austin; Lemma Senbet, University of Maryland; Robert Verrechia, University of Pennsylvania.
Sponsors: Mitsui Life Financial Research Center; Paton Accounting Center; The University of Michigan Business School
November 3, 2000: Opening Remarks
Session Titles:
Session #A1: Analysts’ Earnings Forecasts
Session Chair: Siva Nathan, Emory University
Session #A2: International Institutions and Accounting
Session Chair: Peter Wysocki, University of Michigan
Session #F1: Raising and Using Money
Session Chair: E. Han Kim
Session #F2: Liquidity
Session Chair: Vikram Nanda, University of Michigan
Session #A3: Risk, Disclosure and Valuation
Session Chair: Darren Roulstone, University of Chicago
Session #F3: Pricing
Session Chair: Cheng-Few Lee, Rutgers
Session #F4: Capital Structure
Session Chair: Lemma Senbet, University of Maryland
Session #A4: Properties of Forecasts and Earnings
Session Chair: Larry Brown, Georgia State
Session #A5: Tax Issues
Session Chair: TBA
Session #F5: Diversification
Session Chair: B. Espen Eckbo, Dartmouth College
Session #F6: Financing
Session Chair: Kose John, New York University
Session #A6: Analytical Models of Corporate Disclosure
Session Chair: D. J. Nanda, University of Michigan
Session #A7: Accruals and Earnings Management
Session Chair: Patty Dechow, University of Michigan
Session #F7: Anomalies
Session Chair: Gautam Kaul, University of Michigan
Session #F8: Contracts
Session Chair: Milton Harris, University of Chicago
Session #A8: Corporate Disclosure—Empirical Tests
Session Chair: Russ Lundholm, University of Michigan
Session #A9: Accounting Conservatism and Auditing
Session Chair: Mark Bradshaw, Harvard
Session #F9: Behavior
Session Chair: M. P. Narayanan, University of Michigan
Session #F10: Contagion
Session Chair: Anjan Thakor, University of Michigan
Session #A10: Earnings Management and Disclosure
Session Chair: Joshua Ronen, New York University
Session #F11: Firm Behavior
Session Chair: S. Viswanathan, Duke University
L. Twelfth Conference: September 21 & 22, 2001, School of Business, Janice H. Levin Building, Rutgers University, New Brunswick, NJ.
Keynote Speaker: Martin Gruber, New York University.
Topic: “Incentive Fees and the Mutual Fund Performance”
Program Director: Finance: Cheng-few Lee, Rutgers University; Accounting: Bikki Jaggi, Rutgers University
Co-Director: Finance: James Bicksler, Mike Long; Accounting: Suresh Govindaraj
Executive Committee Members: Stephen P. Baginski, Indiana University; Lawrence Brown, Georgia State University; Martin Gruber, New York University; D. Erich Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Frank C. Jen, SUNY at Buffalo; Jayant R. Kale, Georgia State University; E. Han Kim, University of Michigan; Oliver Kim, University of Maryland; Cheng-few Lee (conference coordinator), Rutgers University; Joe Ogden, SUNY at Buffalo; Joshua Ronen, New York University; Ehud Ronn, University of Texas at Austin; Lemma Senbet, University of Maryland; Charles A. Trizcinka, Indiana University
Sponsors: The New Jersey Center for Research in Financial Services; Rutgers Business School; T. R. Winston and Company; The Review of Quantitative Finance and Accounting; Dept. of Finance and Economics; Dept. of Accounting and Information Systems; Center for Governmental Accounting Education and Research
September 21, 2001: Welcoming Remarks
Session Titles:
FINANCE
Session 1: International Finance
Chairperson: Ehud I. Ronn, University of Texas at Austin
Session 2: Essays in the Spirit of Merton H. Miller (A)
Chairperson: James L. Bicksler, Rutgers University
Session 3: Essays in the Spirit of Merton H. Miller (B)
Chairperson: James L. Bicksler, Rutgers University
Session 4: Corporate Finance (A)
Chairperson: Lemma W. Senbet, University of Maryland
Session 5: Risk Management and Portfolio Analysis
Chairperson: Richard E. Kihlstrom, University of Pennsylvania
Session 6: Asset Pricing
Chairperson: Charles Trzcinka, Indiana University
Session 7: Microstructure
Chairperson: Jayant R. Kale, Georgia State University
Session 8: Corporate Finance (B)
Chairperson: Kose John, New York University
Session 9: Behavioral Finance
Chairperson: Lawrence R. Glosten, Columbia University
Session 10: Derivatives
Chairperson: Chunchi Wu, Syracuse University
ACCOUNTING
Session 1: Financial Disclosures
Chairperson: Joshua Ronen, New York University
Session 2: Financial Reporting and Valuation
Chairperson: Prem Jain, Georgetown University
Session 3: Earnings and Stock Returns
Chairperson: Stephen Ryan, New York University
Session 4: Quality of Earnings
Chairperson: Steven Baginski, Indiana University
Session 5: Debt and Accruals Management
Chairperson: Oliver Kim, University of Maryland
Session 6: Earnings Forecasts
Chairperson: Lawrence Brown, Georgia State University
Session 7: Start-Up Companies
Chairperson: John Hand, University of North Carolina, Chapel Hill
Session 8: Business Segments, R & D and Corporate Governance
Chairperson: Ken Peasnell, University of Lancaster
M. Thirteenth Conference: The University of Maryland, College of Business and Management, College Park, Maryland, November 15 & 16, 2002
November 15, 2002: Opening Remarks
Keynote Speakers: Michael J. Brennan, UCLA
Distinguished Speaker: Robert E. Verrecchia, The Wharton School
Program Director: Finance: Lemma W. Senbet; Gurdip Bakshi; Accounting: Oliver Kim; Lawrence A. Gordon
Executive Committee Members: Randolph Beatty, University of South California; Walter G. Blacconiere, Indiana University; Lawrence Brown, Georgia State University; Jennifer Conrad, University of North Carolina; Martin Gruber, New York University; Yasushi Hamao, University of South California; John Hand, University of North California; D. Erich Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Jayant R. Kale, Georgia State University; Oliver Kim, University of Maryland; Cheng-few Lee (conference coordinator), Rutgers University; Joshua Ronen, New York University; Ehud I. Ronn, University of Texas at Austin; Lemma W. Senbet, University of Maryland; Charles A. Trizcinka, Indiana University
Sponsors: Accounting and Information Assurance Department, University of Maryland; Finance Department, University of Maryland; Robert H. Smith School of Business, University of Maryland; Financial Management
Session Titles:
Finance
Session I: Corporate Finance and Governance
Chairperson: Kose John, New York University
Session II: Asset Pricing
Chairperson: Craig MacKinlay, University of Pennsylvania
Session III: Contract Design and Financial Intermediation
Chairperson: Anjan Thakor, University of Michigan
Session IV: Market Microstructure
Chairperson: Charles Trzcinka, Indiana University
Session V: International Finance
Chairperson: Vojislav “Max” Maksimovic, University of Maryland
Session VI: Derivatives and Risk Management
Chairperson: Ehud Ronn, University of Texas, Austin
Accounting
Session I: Pro-forma Earnings and Other Voluntary Disclosure
Chairperson: Joshua Ronen, New York University
Session II: Earnings Management
Chairperson: Walter Blacconiere, Indiana University
Session III: The Role of Formal Models in Interpreting Empirical Evidence
Chairperson: Thomas Hemmer, University of Chicago
Session IV: Analyst Forecasts of Earnings
Chairperson: Lawrence Brown, Georgia State University
Session V: Extending the Analysis of the Earnings Returns Relation
Chairperson: Jeffery Abarbanell, University of North Carolina
Session VI: International Accounting
Chairperson: Larry Gordon, University of Maryland
N. Fourteenth Conference: Indiana University, Kelley School of Business, October 31, 2003 & November 1, 2003.
October 31, 2003: Opening Remarks
Keynote Speakers: Robert Shiller
Distinguished Speaker: Joshua Ronen, New York University
Program Director: Finance: Charles Trzcinka; Accounting: Walter Blacconiere
Executive Committee Members: Walter G. Blacconiere, Indiana University; Lawrence Brown, Georgia State University; Martin Gruber, New York University; D. Erich Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Frank C. Jen, SUNY at Buffalo; Jayant R. Kale, Georgia State University; E. Han Kim, University of Michigan; Oliver Kim, University of Maryland; Cheng-few Lee (conference coordinator), Rutgers University; Joe Ogden, SUNY at Buffalo; Joshua Ronen, New York University; Ehud I. Ronn, University of Texas at Austin; Lemma W. Senbet, University of Maryland; Charles A. Trizcinka, Indiana University
Sponsors: The Finance and Accounting Faculties of the Kelley School of Business in Bloomington and Indianapolis; Office of Research and University Graduate School, Indiana University; The McGraw-Hill Companies; South-Western Thomson Learning; Addison Wesley; Wiley; Tichenor Publishing & Printing
Session Titles:
Finance
Session I: International Finance
Chairperson: Lemma Senbet, University of Maryland
Session II: Asset Empirical Asset Pricing
Chairperson: Robert Stambaugh, University of Pennsylvania
Session III: Microstructure
Chairperson: Robert Jennings, Indiana University
Session IV: Investments
Chairperson: Philip Dybvig, Washington University-St. Louis
Session V: Applied Corporate Finance
Chairperson: Michael Weisbach, University of Illinois
Session VI: Dynamics in Corporate Finance
Chairperson: John Kose, New York University
Accounting
Session I: Earnings Management
Chairperson: Daniel Beneish, Indiana University
Session II: Analysts Forecasts
Chairperson: Larry Brown, Georgia State University
Session III: Theory
Chairperson: Carolyn Levine, Carnegie Mellon University
Session IV: Corporate Governance, Incentives and Managerial Behavior
Chairperson: K.R. Subramanyam, University of Southern California
Session V: Capital Markets
Chairperson: John Hand, University of North Carolina
Session VI: Management Forecasts and Voluntary Disclosures
Chairperson: Steve Baginski, Georgia State University
O. Fifteenth Conference: University of Southern California, Marshall School of Business and Leventhal School of Accounting, November 19 & 20, 2004
November 19, 2004: Opening Remarks
Keynote Speakers: Stephen A. Ross, Massachusetts Institute of Technology
Distinguished Speaker: S.P. Kothari, Massachusetts Institute of Technology
Program Director: Finance: Yasushi Hamao; Accounting: Randolph Beatty
Conference Coordinators: Terry Lichvar, Marshall School of Business, Finance and Business Economics Dept.; Candi Spencer, Leventhal School of Accounting, Office of the Dean
Executive Committee Members: Randolph Beatty, USC; Walter Blacconiere, Indiana; Lawrence Brown, GA State; Jennifer Conrad, UNC; Martin Gruber, NYU; Yasushi Hamao, USC; John Hand, UNC; Erich Hirst, UT Austin; Bikki Jaggi, Rutgers; Jayant Kale, GA State; E. Han Kim, Michigan; Oliver Kim, U of MD; C.F. Lee, Rutgers; Joe Ogden, Buffalo; Joshua Ronen, NYU; Ehud Ronn, UT Austin; Lemma Senbet, U of MD; Sam Tiran, Buffalo; Charles Trzcinka, Indiana
Session Titles:
Session I
Finance: Trading and Liquidity
Moderator: Charles Trzcinka, Indiana University
Accounting A: Analysis and Capital Markets
Moderator: Lawrence Brown, Georgia State University
Accounting B: Accountants’ Theories of Accounting Conservatism
Moderator: John Hughes, University of California, Los Angeles
Session II
Accounting and Finance Joint Session A: Returns and Financial Statements
Moderator: Randolph Westerfield, University of Southern California
Accounting and Finance Joint Session B: Beliefs, Disclosures, and Monitoring
Moderator: K.R. Subramanyam, USC
Session III
Finance: Empirical Asset Pricing
Moderator: Jennifer Conrad, University of North Carolina
Accounting: Corporate Governance
Moderator: Mark DeFond, University of Southern California
Session IV
Finance: Organization Forms and Agency Costs
Moderator: Kevin Murphy, University of Southern California
Accounting: Earnings Management and Accruals
Moderator: Walter Blacconiere, Indiana University
Session V
Finance: Asset Pricing
Moderator: Ehud Ronn, University of Texas, Austin
Accounting: Accounting, Valuation and Wealth
Moderator: John Hand, University of North Carolina, Chapel Hill
Session VI
Finance: Security Issuance, Acquisitions, and Divestitures
Moderator: Gordon Phillips, University of Maryland
Accounting: Stock Options
Moderator: Mingyi Hung, University of Southern California
P. Sixteenth Conference: University of North Carolina, Kenan-Flagler Business School, November 18 & 19, 2005
November 18, 2005: Opening Remarks
Keynote Speakers: Charles Lee, Barclays Global Investors
Program Director: Finance Program: Jennifer Conrad; Accounting Program: John Hand
Executive Committee Members: Randolph Beatty, University of South California; Walter G. Blacconiere, Indiana University; Lawrence Brown, Georgia State University; Jennifer Conrad, University of North Carolina; Martin Gruber, New York University; Yasushi Hamao, University of South California; John Hand, University of North California; D. Erich Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Jayant R. Kale, Georgia State University; Oliver Kim, University of Maryland; Cheng-few Lee (conference coordinator), Rutgers University; Joshua Ronen, New York University; Ehud I. Ronn, University of Texas at Austin; Lemma W. Senbet, University of Maryland; Charles A. Trizcinka, Indiana University
Sponsors: The Finance and Accounting Faculties of the Kenan-Flagler Business School
Session Titles:
Session 1:
ACCOUNTING: Earnings Management
Session Chair: Carol Marquardt (NYU)
FINANCE: Mutual Funds
Session Chair: Sunil Wahal (Arizona State Univ.)
Session 2:
ACCOUNTING: Conservatism & Value Relevance
Session Chair: Ross Watts (Univ. of Rochester)
FINANCE: Empirical Asset Pricing
Session Chair: Bhaskaran Swaminathan (Cornell Univ.)
Session 3:
JOINT Finance/Accounting
Session Chair: Charles Lee (Barclays Global Investors)
Session 4:
ACCOUNTING 4-1: Disclosure
Session Chair: Paul Fischer (Penn State Univ.)
ACCOUNTING 4-2: Analysts
Session Chair: Michael Mikhail (Duke Univ.)
FINANCE: Corporate Finance
Session Chair: Diane Denis (Purdue Univ.)
Session 5:
ACCOUNTING: Accounting Fundamentals
Session Chair: John Hand (Univ. of North Carolina)
FINANCE: Corporate Governance
Session Chair: Anil Shivdasani (Univ. of North Carolina)
Session 6:
ACCOUNTING: Corporate Contracts
Session Chair: Linda McDaniel (Univ. of Kentucky)
FINANCE: Asset Pricing Theory
Session Chair: Charles Trzcinka (Indiana Univ.)
Q. Seventeenth Conference: Georgia State University, November 17 & 18, 2006
November 17, 2006: Opening Remarks
Keynote Speakers: Katherine Schipper, Duke University
Program Director: Finance Program: Jayant Kale, Georgia State University; Accounting Program: Lawrence D. Brown, Georgia State University
Executive Committee Members: Randolph Beatty, University of South California; Walter G. Blacconiere, Indiana University; Lawrence Brown, Georgia State University; Jennifer Conrad, University of North Carolina; Martin Gruber, New York University; Yasushi Hamao, University of South California; John Hand, University of North California; D. Erich Hirst, University of Texas at Austin; Bikki Jaggi, Rutgers University; Jayant R. Kale, Georgia State University; Oliver Kim, University of Maryland; Cheng-few Lee (conference coordinator), Rutgers University; Joshua Ronen, New York University; Ehud I. Ronn, University of Texas at Austin; Lemma W. Senbet, University of Maryland; Charles A. Trizcinka, Indiana University
Sponsors: Finance and Accounting Faculties and the Dean's Office of the Robinson College of Business and the Georgia State University Research Foundation
Session Titles:
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