## \[no-title\] ![Law & Business Initiative Banner with Stern and NYU Law](/sites/default/files/assets/images/con_038273.jpg) ![Pollack Logo](/sites/default/files/assets/images/uat_023989.bmp) ![Pollack Penn Logo](/sites/default/files/assets/images/uat_023988.bmp) **Sponsored by: [![NERA Consulting logo](http://w4.stern.nyu.edu/finance/docs/photos/NERA_horizontal_2945_RGB.JPG)](http://www.nera.com/index.htm) NINTH ANNUAL NYU/PENN CONFERENCE ON LAW & FINANCE Date:** February 8th and 9th, 2013 **Location:** New York University Stern School of Business Kaufman Management Center, **Room 1-100** 44 West Fourth Street New York, NY 10012 **Directions to Stern:** [Click here.](http://www.stern.nyu.edu/experience-stern/about/visit-stern/index.htm) **Organizers:** William Allen, New York University Yakov Amihud, New York University Jill Fisch, University of Pennsylvania Itay Goldstein, University of Pennsylvania **Registration:** This event is by invitation. For more information email . **Program*:*** --- ***Friday, February 8, 2013*** 9:30am Registration and Breakfast 10:00am Welcoming Remarks 10:15 - 11:15am [Competition for Managers, Corporate Governance and Incentive Compensation](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039842) (Final Version for Conference) **Viral Acharya**, New York University Stern School of Business, CEPR, NBER Marc Gabarro, Erasmus University Paolo Volpin, LBS, CEBR Commentator: **James Spindler**, The University of Texas at Austin School of Law Moderator: **William T. Allen**, New York University School of Law and Stern School of Business 15 minute break 11:30 - 12:30am [Concentrated Ownership Revisited: Idiosyncratic Value and Agency Costs](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039252) (Final Version for Conference) **Zohar Goshen**, Columbia Law School Assaf Hamdani, Hebrew University of Jerusalem Commentator: **Alex Edmans**, The Wharton School of the University of Pennsylvania Moderator: **Itay Goldstein**, The Wharton School of the University of Pennsylvania 12:30 - 1:30pm Lunch 1:30 - 2:30pm [Executive Compensation and Corporate Governance in the US: Perception, Facts and Challenges](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039048) (Final Version for Conference) **Steven N. Kaplan**, The University of Chicago Booth School of Business Commentator: **Holger Spamann**, Harvard Law School Moderator: **Bill Bratton**, University of Pennsylvania Law School 2:30 - 3:30pm [How Do Retail Investors Choose Funds? An Experiment](%5B!--%24HttpRelativeWebRoot--%5Dgroups/content/documents/webasset/con_039716.docx) (Final Version for Conference) **Jill Fisch**, University of Pennsylvania Law School **Tess Wilkinson-Ryan**, University of Pennsylvania Law School Commentator: **Wei Jiang**, Columbia Business School Moderator: **Geoffrey Miller**, New York University School of Law 15 minute break 3:45 - 4:45pm [The Disciplinary Effects of Proxy Contests](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039717) (Final Version for Conference) **Vyacheslav Fos**, College of Business, University of Illinois at Urbana-Champaign Commentator: **Robert Thompson**, Georgetown University Law Center Moderator: **Marcel Kahan**, New York University School of Law 5:00 - 6:00pm Cocktails 6:00 - 8:00pm - Event Dinner --- ***Saturday February 9, 2013*** 8:30am Registration and Breakfast 9:00 - 10:00am [Secured Credit Externalities](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039783) (Final Version for Conference) **Barry Adler**, NYU School of Law Vedran Capkun, HEC Paris Commentator: **Mark Jenkins**, The Wharton School of the University of Pennsylvania Moderator: **Ryan Bubb**, New York University School of Law 10:00 - 11:00am [Soft Shareholder Activism](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039718) (Final Version for Conference) **Doron Levit**, The Wharton School of the University of Pennsylvania Commentator: **Frank Partnoy**, University of San Diego School of Law Moderator: **Michael L. Wachter**, University of Pennsylvania Law School 15 minute break 11:15 - 12:15pm [Virtual Ownership and Managerial Distance: The Governance of Industrial Foundations](http://wcm-ct-1.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/CON_039860) (Final Version for Conference) **Henry Hansmann**, Yale Law School Steen Thomsen, Copenhagen Business School Commentator: **Yaniv Grinstein**, Cornell University, Johnson Graduate School of Management Moderator: **Yakov Amihud**, New York University Stern School of Business 12:15 - 1:30pm Lunch ### Past NYU / Penn Conferences [2013 NYU/Penn Conference on Law and Finance](http://www.stern.nyu.edu/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/2013/index.htm) February 8 - 9, 2013 New York, NY [2012 NYU/Penn Conference on Law and Finance](https://www.law.upenn.edu/institutes/ile/events/penn-nyu-conferences/2012.php) February 24 - 25, 2012 Philadelphia, PA [2011 NYU/Penn Conference on Law and Finance](/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/2011) February 25 - 26, 2011 New York, NY [2010 NYU/Penn Conference on Law and Finance](http://www.law.upenn.edu/academics/institutes/ile/penn-nyu2010.html) February 26 - 29, 2010 Philadelphia, PA [2009 NYU/Penn Conference on Law and Finance](/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/2009) February 27 - 28, 2009 New York, NY [2008 NYU/Penn Conference on Law and Finance](http://www.law.upenn.edu/academics/institutes/ile/penn-nyu2008.html) February 29 - March 1, 2008 Philadelphia, PA [2007 NYU/Penn Conference on Law and Finance](/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/2007) February 23 - 24, 2006 New York, NY [2006 NYU/Penn Conference on Law and Finance](http://www.law.upenn.edu/academics/institutes/ile/lawandfinanceconference.html) February 24 - 25, 2006 Philadelphia, PA [2005 NYU/Penn Conference on Law and Finance](/experience-stern/about/departments-centers-initiatives/centers-of-research/pollack-center-law-business/events/nyu-penn-conference/2005) February 25-26, 2005 New York, NY