Pollack Center for Law & Business

3rd Annual NYU/Penn Conference on Law & Finance

February 23-24, 2007

NYU School of Law
Lester Pollack Colloquium Room, Furman Hall
245 Sullivan Street (at West 4th)

Dinner Location:
Lipton Hall within D'Agostino Hall, 108 West 3rd Street (at MacDougal Street)

Friday, February 23, 2007

9:30 a.m. Breakfast and Registration

10:00 a.m. Welcoming Remarks

10:15 a.m.-11:15 a.m.
Law Paper: The Short and Puzzling Life of the "Implicit Minority Discount" in Delaware Appraisal Law
Chair: Stephen Choi, NYU Law School
Author & Presenter: Michael Wachter, University of Pennsylvania Law School
Co-author: Lawrence Hamermesh, Widener Law
Commentator: David Yermack, NYU Stern School of Business

11:30 a.m.-12:30 p.m.
Finance Paper: Governance Problems in Close Corporations
Chair: William Allen, NYU Stern School of Business, NYU Law School
Author & Presenter: Daniel Wolfenzon, NYU Stern Schoolof Business and NBER
Co-authors: Venky Nagar, Ross School of Business, University of Michigan
Kathy R. Petroni, Eli Broad Collegeof Business, Michigan State University
Commentator: Jill Fisch, Fordham University and University of Pennsylvania (visiting professor)

12:30 p.m.-1:30 p.m. Lunch

1:30 p.m.-2:30 p.m.
Law Paper: Institutional Investors and Proxy Voting: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation
Chair: William Allen, NYU Stern School of Business, NYU Law School
Author & Presenter: Roberta Romano, Yale Law School
Co-author: Martijn Cremers, Yale School of Management
Commentator: Joy Ishii, Stanford School of Business

2:45 p.m.-3:45 p.m.
Finance Paper: Predatory Lending in a Rational World
Chair: Andrew Metrick, Wharton School, University of Pennsylvania
Author & Presenter: Philip Bond, Wharton School, University of Pennsylvania
Co-authors: David K. Musto, Wharton School, University of Pennsylvania
Bilge Yılmaz, Wharton School, University of Pennsylvania
Commentator: Michael Barr, University of Michigan

4:00 p.m.-5:00 p.m.
Law Paper: Pay Distribution in the Top Executive Team
Chair: Andrew Metrick, Wharton School, University of Pennsylvania
Author & Presenter: Lucian Arye Bebchuk, Harvard Law School
Co-authors: Martijn Cremers, Yale Schoolof Management
Urs Peyer, INSEAD and University of Chicago Graduate School of Business (visiting professor)
Commentator: Steve Kaplan, University of Chicago Graduate Schoolof Business

6:00 p.m. Cocktails & Dinner
Lipton Hall, 108 West 3rd Street

Saturday, February 24, 2007

8:30 a.m. Breakfast

9:00 a.m.-10:00 a.m.
Finance Paper: Corporate Financing Decisions When Investors Take the Path of Least Resistance
Chair: Edward B. Rock, University of Pennsylvania Law School
Author & Presenter: Malcolm Baker, Harvard Business Schooland NBER
Co-authors: Joshua Coval, Harvard Business Schooland NBER
Jeremy C. Stein, Harvard University, Economics Department and NBER
Commentator: Robert M. Daines, Stanford Law School

10:15 a.m-11:15 a.m.
Law Paper: Did Reform of Prudent Trust Investment Laws Change Trust Portfolio Allocation?
Chair: Edward Rock, University of Pennsylvania Law School
Author & Presenter: Robert Sitkoff, NYU Law School
Co-author: Max Schanzenback, Northwestern University School of Law
Commentator: William Goetzmann, Yale School of Management

11:30 a.m-12:30 p.m.
Finance Paper: Who Blows the Whistle on Corporate Fraud?
Chair: Kose John, Stern School of Business
Author & Presenter: Luigi Zingales, University of Chicago Graduate Schoolof Business, NBER and CEPR
Co-authors: Alexander Dyck, Rotman School of Management, University of Toronto
Adair Morse, University of Michigan
Commentator: Jeffrey Gordon, Columbia Law School

12:30 p.m. Lunch