F i n a n c e U C

3^rd International Conference

Hotel Atton El Bosque

Roger de Flor 2770, Las Condes

Santiago, Chile

June 5 - 6, 2012

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Conference Program

Tuesday, June 5, 2012

10:30

Registration

Session 1: Corporate Finance Theory I (joint with CGC-UC)

11:00	Shareholder Empowerment: The Right to Approve and the Right to Propose Oguzhan Ozbas - USC Discussant: Ken Ayotte - Northwestern Law
12:00	A Model of The Evolution of Executive Labor Markets Daniel Ferreira - LSE Discussant: Alex Edmans - Wharton
13:00	Lunch

Session 2: Natural Experiments in Finance

14:30	Repossession and the Democratization of Credit Effi Benmelech - Harvard Discussant: Borja Larrain - PUC Chile
15:30	Capital Structure and Taxes: What Happens when you Subsidize Equity? Francisco Perez-Gonzalez - Stanford GSB Discussant: Jose Tessada - PUC Chile

Wednesday, June 6, 2012

Session 3: Corporate Finance Theory II

9:30	Financing through Asset Sales Alex Edmans - Wharton Discussant: Julio Riutort - PUC Chile
10:30	Feedback Effects of Credit Ratings Gustavo Manso - Berkeley Haas Discussant: Daniel Ferreira - LSE
11:30	Coffee break

Session 4: Business Groups

12:00	The Internal Capital Markets of Pyramidal Business Groups Borja Larrain - PUC Discussant: Amit Seru - Chicago Booth
13:00	Lunch

Session 5: Innovation

14:30	Technological Innovation, Resource Allocation, and Growth Amit Seru - Chicago Booth Discussant: Gustavo Manso - Berkeley Haas
15:30	Subsidiary Entities and the Innovator's Dilemma Ken Ayotte - Northwestern Law Discussant: Alvaro Bustos - PUC Chile