2010 Five-Star Conference on Research in Finance

This conference brings together finance researchers from five leading northeastern universities. We invite colleagues at all schools in the northeast, and others interested in current finance research, to a day of research presentations in finance. Faculty from each of the program participant schools will present one of the papers on the program.


CRA International                     NYU Salomon Center

     CRA International Logo 75x73 image                             Stern Logo bw 113x102 image

Program Participants from:
Columbia University | New York University | Princeton University
University of Pennsylvania | Yale University
Friday, December 3, 2010

New York University
Stern School of Business
Kaufman Management Center, Room 1-70
44 West Fourth Street
New York, NY 10012

Directions to Stern:
Click here

Yakov Amihud, New York University
Kose John, New York University

To register for the conference and reserve your luncheon ticket, please send an email to salomon@stern.nyu.edu by November 26. Indicate your name, university/affiliation, and email address in your response.

Special Request from Organizers:
Last year there was a large number of people who registered and did not show up. Please understand that this creates difficulties in organization and catering. We would like to ask you to register only if you are reasonably sure of being able to attend. And, if after having registered you find out that you are unable to attend, please let us know by November 29.

9:00 Registration and Continental Breakfast
9:30 Introduction
Matthew Richardson, Director, Salomon Center, NYU Stern
9:45 Chair: Matthew Spiegel, Yale University
Eric K. Kelley, University of Arizona and Paul C. Tetlock, Columbia University
"How Wise Are Crowds? Insights from Retail Orders and Stock Returns"
Discussant: Emiliano Pagnotta, NYU Stern
10:45 Refreshment Break
11:00 Chair: Yacine Aït-Sahalia, Princeton University
Xavier Gabaix, NYU Stern and CEPR
"A Sparsity-Based Model of Bounded Rationality"
Discussant: Yuliy Sannikov, Princeton University
12:00 Refreshment Break
12:15 Chair: Robert Hodrick, Columbia University
Ravi Bansal, Duke University and NBER and Ivan Shaliastovich, University of Pennsylvania
"Confidence Risk and Asset Prices"
Discussant: Jonathan E. Ingersoll, Jr., Yale University
1:15 Luncheon

Keynote Speaker: David Babbel, Charles River Associates
                                  "Stable Value Funds: Performance to Date"
2:15 Chair: Amir Yaron, University of Pennsylvania
Zhiguo He, University of Chicago, and Wei Xiong, Princeton University and NBER
"Rollover Risk and Credit Risk"
Discussant: Martin Oehmke, Columbia University
3:15 Refreshment Break
3:30 Chair: Robert Engle, NYU Stern
Alessio Saretto, University of Texas, Austin and Heather Tookes,Yale University
"Corporate Leverage, Debt Maturity and Credit Default Swaps:The Role of Credit Supply"
Discussant: Michael Roberts, University of Pennsylvania
4:45 Reception