Research Day 2013

The NYU Stern School has the largest and, by some measures, the most active Finance faculty of any university in the world. One of our most popular regular offerings for NASDAQ DRP and Volatility Institute Sponsors, Salomon Center Associates, and all of our friends in academia and on the Street is the annual Research Day conference. Research Day is our chance to provide quick looks at some of the most interesting projects that are currently under way among our active Finance research faculty.

Along with presentations of research work in progress, we will continue a very popular feature that was added to the Research Day program last year: a Senior Faculty Panel Discussion on the current state of the world economy and financial system. Given the continued unsettled state of affairs and the new economic team in Washington that will be attempting to deal with it, we anticipate a very enlightening discussion this year, as senior members of the finance faculty share their views on where we are now and where we are headed.

Friday, February 1, 2013, 9:00 - 5:30 P.M.

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

For directions and maps, click here


8:30Registration and Continental Breakfast
Matthew Richardson, Director Salomon Center
Stephen Figlewski, Director, NASDAQ OMX Derivatives Research Project [Video]
9:15Session I: Research Presentations

Stijn van Nieuwerburgh: “Understanding Firm Volatilities” [Video]
Joel Hasbrouck: "High Frequency Quoting: Short-Term Volatility in Bid/Ask Quotes" [Video]
10:15A Quick Look at the Research Interests of Visiting Faculty
 (Stefano Bonini, Sudip Gupta, Nikolay Halov, Bruce Tuckman) [Video]
10:45Refreshment Break
11:15Session II: Research Presentations

Ashwini Agrawal: "The Real Impact of Hiring from Internal vs. External Labor Markets" [Video]
Jeffrey Wurgler: "Would Stricter Capital Requirements Increase the Cost of Capital? Bank Regulation and the Low Beta Anomaly." [Video]
Philipp Schnabl: "Why Do Banks Borrow from the Lender of Last Resort? Evidence from the European Financial Crisis" [Video]
2:00Session III: Senior Faculty Panel
"The State of the World: Where Are We and Where Are We Going?"

Thomas Cooley
Robert Engle
Charles Murphy
Anthony Saunders

3:30Refreshment Break
4:00Session IV: Research Presentations

Matthew Richardson: "Which News Moves Stock Prices? A Textual Analysis" [Video]
Anthony Lynch: "Why Surplus Consumption in the Habit Model May be Less Persistent than You Think" [Video]
5:00Concluding Comments