F i n a n c e U C

1st International Conference


Hotel Atton El Bosque

Roger de Flor 2770, Las Condes

Santiago, Chile


June 10 - 11, 2011



Conference Program

Friday, June 10, 2011

8:30 Registration

Session 1: Banks

9:00 Dissecting the effect of credit supply on trade: evidence from matched credit-export data
Daniel Paravisini - Columbia GSB
Discussant: Sebastian Claro - Central Bank of Chile
10:00 Does soft information matter? Evidence From Loan Officer Absenteeism
Alejandro Drexler - U. Texas
Discussant: Daniel Paravisini - Columbia GSB
11:00 Coffee break

Session 2: Mutual Funds

11:30 The Mutual Fund Industry Worldwide: Explicit and Closet Indexing, Fees, and Performance
Martijn Cremers - Yale SOM
Discussant: Borja Larrain - PUC
12:30 Implicit guarantees and risk-taking
Philipp Schnabl - NYU Stern
Discussant: Martijn Cremers - Yale SOM
13:30 Lunch

Session 3: Field Experiments

15:00 Under-Savers Anonymous: Evidence on Self-Help Groups and Peer Pressure as a Savings Commitment Device
Stephan Meier - Columbia GSB
Discussant: Francisco Gallego - PUC and J-PAL Latin America

Saturday, June 11, 2011

Session 4: CEOs

9:00 The optimal duration of executive compensation: theory and evidence
Radha Gopalan - Washington University
Discussant: Philipp Schnabl - NYU Stern
10:00 Firm investment and stakeholder choices: A top-down theory of capital budgeting
Andres Almazan - U. Texas
Discussant: Radha Gopalan - Washington University
11:00 Coffee break

Session 5: Equity Issues

11:30 Share issuance and cross-sectional returns: the importance of controllers' stakes
Borja Larrain - PUC
Discussant: Stefano Rossi - Imperial College UK
12:30 Optimal IPO timing in an exchange economy
Jaime Casassus - PUC
Discussant: Andres Almazan - U. Texas
13:30 Lunch

Session 6: Corporate Governance

15:00 Good monitoring, bad monitoring
Stefano Rossi - Imperial College
Discussant: Alejandro Drexler - U. Texas

Participant List


  • Andres Almazan (Texas)
  • Matias Braun (UAI)
  • Jaime Casassus (PUC)
  • Pablo Castaneda (UAI)
  • Augusto Castillo (UAI)
  • Sebastian Claro (Central Bank of Chile)
  • Martijn Cremers (Yale)
  • Marta del Sante (PUC)
  • Alejandro Drexler (Texas)
  • Ronald Espinoza (PUC)
  • Francisco Gallego (PUC and J-PAL Latin America)
  • Julio Galvez (PUC)
  • Radha Gopalan (Washington University)
  • Borja Larrain (PUC)
  • Stephan Meier (Columbia)
  • Daniel Paravisini (Columbia)
  • Julio Riutort (PUC)
  • Stefano Rossi (Imperial College)
  • Philipp Schnabl (NYU)
  • Giorgo Sertsios (Houston)
  • Jose Tessada (PUC)
  • Francisco Urzua (Tilburg)
  • Mauro Villalon (PUC)
  • Eduardo Walker (PUC)