The goal of this special FTG conference, hosted by the University of Chicago Booth School of Business, is to bridge theory and empirical research in finance by bringing together theorists and empirical researchers working on corporate finance, financial intermediation, and financial markets. It is part of a broader initiative undertaken by the FTG to foster closer ties and interactions between theoretical and empirical finance research. The conference welcomes submissions of theoretical papers that provide empirically testable hypotheses, empirical papers that are guided by theory, as well as papers that integrate theory models and empirical tests.  The conference welcomes papers broadly related to corporate finance, corporate governance and control, financial intermediation, agency and delegation, information and securities, and financial markets.

Papers that are primarily theoretical (empirical) will be discussed by empirically (theoretically) oriented researchers.  The conference will also feature a panel discussion on integrating theory and empirical research in finance with the following panelists:  Philip Bond (University of Washington), Peter DeMarzo (Stanford University), John Graham (Duke University), and Michael Roberts (University of Pennsylvania).  The paper presenters are expected to attend all sessions of the conference.

PROGRAM:

Friday, December 9, 2022:
All sessions take place in room 601

2:30 -3:15        Registration (Kapani Lounge, 6th floor)

3:15-4:15         Financial Resilience in Labor Negotiations

Presenter: Alessio Piccolo, Indiana University

Discussant: Effi Benmelech, Northwestern University

4:15-4:30         break (Kapani Lounge, 6th floor)

4:30-5:30         Debt Maturity Choice and Aggregate Growth

Presenter: Jacob Sagi, University of North Carolina at Chapel Hill

Discussant: Mitchell Peterson, Northwestern University

5:30 - 6:30       Reception (City Room, 7th floor)

(Poster session starts at 5:55 in the same room)

6:30 - 8:30       Dinner including keynote address (City Room, 7th floor)

Saturday, December 10, 2022:
All sessions take place in room 601

8:00-8:30         Breakfast (Kapani Lounge, 6th floor)

8:30-9:30         A Theory of Fair CEO Pay

Presenter: Alex Edmans, London Business School

Discussant: Dirk Jenter, LSE

9:30-10:30       Strategic Learning and Corporate Investment

Presenter: Paul Décaire, Arizona State University

Discussant: Christian Opp, University of Rochester

10:30-10:45     Break (Kapani Lounge, 6th floor)

10:45-12:15     Panel Discussion

Philip Bond, Foster School of Business, University of Washington
Peter DeMarzo, Stanford Graduate School of Business
John Graham, Duke University Fuqua School of Business
Michael Roberts, The Wharton School, University of Pennsylvania

Moderator: Wei Jiang, Emory University, Goizueta Business School

12:15- 1:15      Lunch (Room 504)

1:15-2:15         Bank Loan Markups and Adverse Selection

Presenter: Gregory Weitzner, McGill University

Discussant: Uday Rajan, University of Michigan

2:15-2:30         break (Kapani Lounge, 6th floor)

2:30-3:30         The Shadow Cost of Collateral

Presenter: Kairong Xiao, Columbia University

Discussant: Martin Oehmke, LSE

Time allocation: (25 present, 20-25 discuss, 10 audience)

Organizers:

Zhiguo He, University of Chicago  

Wei Jiang, Emory University  

Ron Kaniel, University of Rochester  

Nadya Malenko, University of Michigan  

Program committee co-chairs:

Zhiguo He, University of Chicago  

Konstantin Milbradt, Northwestern University