Research Day 2016

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 the very popular Senior Faculty Panel Discussion.  In previous years, the panel reviewed the general economic outlook for the world economy.  This year the discussion will focus on the major capital investment that will be needed immediately and in the future to maintain and to expand our national infrastructure, and how this investment can be financed.  The panelists have been working over the past year on a monograph that explores the many dimensions of this extremely important topic.

Attendance is by invitation only.  Please RSVP to

Friday, March 25, 2016

New York University
Stern School of Business
Kaufman Management Center
44-50 West Fourth Street
New York, NY 10012


8:30 Registration and Continental Breakfast
9:00 Welcome, Introduction
Stephen Figlewski, Director of the NASDAQ Derivatives Research Project
9:15 Session I: Research Presentations
Sabrina Howell on "Very Early Venture Finance" [Video]
Marti Subrahmanyam on "Why Do Investors Buy Sovereign Default Insurance?" [Video]
Stijn Van Nieuwerburgh on "A Macroeconomic Model with Financially Constrained Producers and Intermediaries" [Video]
10:45 Break
11:15 Session II: Research Presentations
Andrew Patton on "Dynamic Models for Expected Shortfall (and Value-at-Risk)" [Video]
Menachem Brenner on "Informed Options Trading prior to Corporate Events" [Video]
Aswath Damodaran on "Numbers and Narratives" [Not yet available]
12:45 Lunch
2:00 Session III: Senior Faculty Panel 
"Investing in Infrastructure" [Video]
Chairman: Ingo Walter
Paul Romer
Paul Tice
David Yermack
Lawrence White
3:00 Break
4:00 Session IV:  Research Presentations
Thomas Philippon on "Secular Stagnation and the Zero Lower Bound" [Video]
Stephen Figlewski on "Exercise Boundary Violations for American Options:  The Rule not the Exception" [Video]
5:00 Reception