NYU Stern
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2005 Five-Star Conference

This conference brings together finance researchers from several 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.

Sponsored by Deutsche Bank  and NYU Salomon Center 
 
Program Participants from
Columbia University | New York University | Princeton University
University of Pennsylvania | Yale University
 
 
 Date:  
Friday, December 2, 2005
9:00 am - 5:45 pm
 
 
 Location:  
New York University
Stern School
of Business
KMC 1-70
44 West Fourth Street
New York, NY  10012
 
 
 Directions to  Stern:  
 
 
 Organizers:  
Professor Yakov Amihud
Professor Kose John
 
 
 Coordinator:  
Mary Jaffier
mjaffier@stern.nyu.edu
(212) 998-0700
 
 
 Registration:  
To register for the conference, please email Ms. Jaffier by November 23. 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 Mary Jaffier know by November 23.
 
 
PROGRAM           
Friday, December 2
 
9:00  
  
Registration and Continental Breakfast
 
 
 
9:30  
 
Introduction
Matthew Richardson, Director, NYU Salomon Center
Opening Remarks
Peter Garber, Global Strategist, Deutsche Bank
 
 
 
9:45
 
Chair: TBA 
Ruslan Bikbov and Mikhail Chernov, Columbia University
No-Arbitrage Macroeconomic Determinants of the Yield Curve
Discussant: Stijn Van Nieuwerburgh, New York University                  
 
 
 
10:45
 
Refreshment Break
 
 
 
11:00 
 
Chair: Geert Bekaert, Columbia University
Markus K. Brunnermeier, Princeton University and Lasse Heje Pedersen, New York University
Market Liquidity and Funding Liquidity
Discussant: Charles Jones, Columbia University
 
 
 
12:00
 
Refreshment Break
 
 
 
12:15 
 
Chair: Franklin Allen, University of Pennsylvania
Hongjun Yan, Yale University
Natural Selection in Financial Markets: Does It Work?”
Discussant: Jose A. Scheinkman, Princeton University
 
 
 
1:15   
 
Luncheon
 
 
 
2:15
 
Chair: Yacine Aït-Sahalia, Princeton University
Jacob Boudoukh, Matthew Richardson and Robert F. Whitelaw, New York University
The Myth of Long-Horizon Predictability
Discussant: Motohiro Yogo, University of Pennsylvania
 
 
 
3:15
 
Refreshment Break
 
 
 
3:30
 
Chair: Matthew Spiegel, Yale University
Michael L. Lemmon, University of Utah, Michael R. Roberts, University of Pennsylvania, and Jaime F. Zender, University of Colorado at Boulder
Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure
Discussant: William N. Goetzman, Yale University
 
 
 
4:45   
 
Reception