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Conference Program
Sixth Miami Behavioral Finance Conference
December 11-13, 2015
School of Business Administration, University of Miami
Coral Gables, Florida 33124, USA

The School of Business Administration at the University of Miami is organizing its sixth Behavioral Finance Conference. The conference will be held at the University of Miami campus in Coral Gables at the Shalala Student Center (1330 Miller Dr, Miami, FL 33146). The conference is sponsored by the Department of Finance at the University of Miami, the Review of Financial Studies (RFS), and Cubist Systematic Strategies.

Keynote Speaker: John Campbell, Harvard University UMBFC Finance Brochure
Program Committee Chair: Alok Kumar, University of Miami
Organizer: George Korniotis, University of Miami
Friday, December 11, 2015
6:00 pm – 8:00 pm Welcome Reception: Palme d'Or Restaurant Loggia (patio area by Fontana Restaurant), Biltmore Hotel, Coral Gables
Saturday, December 12, 2015
8:30 am – 9:00 am Continental Breakfast: Shalala Student Center, University of Miami
9:00 am – 9:20 am Welcome Remarks: Eugene Anderson, Dean, University of Miami School of Business Administration, and Ross Garon, Cubist Systematic Strategies

Conference Program Overview: George Korniotis, University of Miami
Morning Session Chair: Indraneel Chakraborty, University of Miami
9:20 am – 10:00 am Comparables Pricing, Justin Murfin, Yale University, Ryan Pratt, Brigham Young University
Presenter: Justin Murfin
Discussant: Sudheer Chava, Georgia Institute of Technology
10:00 am – 10:40 am Information Asymmetry, Market Participation, and Asset Prices, Chong Huang, University of California Irvine, David Hirshleifer, University of California Irvine, Siew Hong Teoh, University of California Irvine
Presenter: David Hirshleifer
Discussant: Michael Sockin, University of Texas at Austin
10:40 am – 11:10 am Coffee Break
11:10 am – 11:50 am CEO Personality and Firm Policies, Ian D. Gow, Harvard University, Steven N. Kaplan, University of Chicago, David F. Larcker, Stanford University, Anastasia A. Zakolyukina, University of Chicago
Presenter: Anastasia A. Zakolyukina
Discussant: Clifton Green, Emory University
11:50 am – 12:30 pm Shaped by Their Daughters: Executives, Female Socialization, and Corporate Social Responsibility, Henrik Cronqvist, University of Miami, Frank Yu, China Europe International Business School
Presenter: Henrik Cronqvist
Discussant: Paola Sapienza, Northwestern University
12:30 pm – 1:50 pm Lunch: Shalala Student Center, University of Miami
Afternoon Session Chair: Henrik Cronqvist, University of Miami
1:50 pm – 3:10 pm Keynote Speech: Restoring Rational Choice in Household Finance: How Far Can We Go? John Campbell, Harvard University
3:10 pm – 3:40 pm Coffee Break
3:40 pm – 4:30 pm Ph.D. Student Papers
Non-financial Firms as Cross-Market Arbitrageurs, Yueran Ma, Harvard University
Discussant: Indraneel Chakraborty, University of Miami
  How Do Investment Ideas Spread Through Social Interaction? Evidence from a Ponzi Scheme, Ville Rantala, Aalto University School of Business
Discussant: Sophie Shive, University of Notre Dame
5:30 pm – 9:00 pm Dinner Cruise: Sea Isle Marina (1635 N Bayshore Dr, Miami, FL 33132)
Sunday, December 13, 2015
8:30 am – 9:00 am Continental Breakfast: Shalala Student Center, University of Miami
Morning Session Chair: Tobias Mühlhofer, University of Miami
9:00 am – 9:40 am Mispricing Factors, Robert F. Stambaugh, University of Pennsylvania, Yu Yuan, Shanghai Jiao Tong University
Presenter: Robert F. Stambaugh
Discussant: Bob Dittmar, University of Michigan
9:40 am – 10:20 am Extrapolation and Bubbles, Nicholas Barberis, Yale University, Robin Greenwood, Harvard University, Lawrence Jin, California Institute of Technology, Andrei Shleifer, Harvard University
Presenter: Lawrence Jin
Discussant: Charles Nathanson, Northwestern University
10:20 am – 10:50 am Coffee Break
10:50 am – 11:30 am Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds, Oleg Chuprinin, University of New South Wales, Denis Sosyura, University of Michigan
Presenter: Denis Sosyura
Discussant: Clemens Sialm, University of Texas at Austin
11:30 am – 12:10 pm History-dependent Risk Preferences: Evidence from Individual Choices and Implications for the Disposition Effect, Angie Andrikogiannopoulou, the London School of Economics & Imperial College London, Filippos Papakonstantinou, Imperial College London
Presenter: Filippos Papakonstantinou
Discussant: Nicholas Barberis, Yale University
12:10 pm – 1:20 pm Lunch: Shalala Student Center, University of Miami
Afternoon Session Chair: Stuart Webb, University of Miami
1:20 pm – 2:00 pm Rolling Mental Accounts, Cary D. Frydman, University of Southern California, Samuel M. Hartzmark, University of Chicago, David H. Solomon, University of Southern California
Presenter: Samuel M. Hartzmark
Discussant: Shimon Kogan, University of Texas Austin and IDC Herzliya
2:00 pm – 2:40 pm What’s in a (School) Name? Racial Discrimination in Higher Education Bond Markets, Casey Dougal, Drexel University, Pengjie Gao, University of Notre Dame, William J. Mayew, Duke University, Christopher A. Parsons, University of California San Diego
Presenter: William J. Mayew
Discussant: Dan Bergstresser, Brandeis University
2:40 pm – 3:00 pm Coffee Break
3:00 pm – 3:40 pm Anomalies and News, Joseph Engelberg, University of California San Diego, David McLean, University of Alberta, Jeffrey Pontiff, Boston College
Presenter: David McLean
Discussant: David Weinbaum, Syracuse University


The registration fee is $350 and the registration form is available at the conference website ( Please register before November 30, 2015 to allow us sufficient time for planning.

Additional Information

Please contact the conference organizer (George Korniotis, for additional details about the conference.

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