2016 CONFERENCE PROGRAM

Conference Program
Seventh Miami Behavioral Finance Conference December 7-9, 2016 School of Business Administration, University of Miami Coral Gables, Florida 33124, USA http://bus.miami.edu/umbfc/ The School of Business Administration at the University of Miami is organizing its seventh 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 and the Review of Financial Studies (RFS). Financial support has been provided by Cubist Systematic Strategies.
Keynote Speaker:	Richard Roll, Linde Institute Professor of Finance, California Institute of Technology
Program Committee Chair:	Alok Kumar, University of Miami
Organizer:	George Korniotis, University of Miami

Wednesday, December 7, 2016
6:00 pm – 8:00 pm	Welcome Reception: Pool Lawn and Laguna, Biltmore Hotel, Coral Gables
Thursday, December 8, 2016
8:30 am – 9:00 am	Continental Breakfast: Shalala Student Center, University of Miami
9:00 am – 9:10 am	Conference Program Overview: George Korniotis, University of Miami
Morning Session Chair: Indraneel Chakraborty, University of Miami
9:10 am – 9:50 am	The Dividend Disconnect, Samuel M. Hartzmark, University of Chicago, David H. Solomon, University of Southern California Presenter: Samuel M. Hartzmark Discussant: Markku Kaustia, Aalto University
9:50 am – 10:30 am	Discrimination, Social Risk and Portfolio Choice, Yosef Bonaparte, University of Colorado, William Bazley, George Korniotis and Alok Kumar, University of Miami Presenter: William Bazley Discussant: Frank P. Stafford, University of Michigan
10:30 am – 11:00 am	Coffee Break
11:00 am – 11:40 am	Geographic Momentum, Christopher A. Parsons, University of California at San Diego, Riccardo Sabbatucci, University of California at San Diego, Sheridan Titman, University of Texas at Austin Presenter: Sheridan Titman and Riccardo Sabbatucci Discussant: Diego Garcia, University of Colorado Boulder
11:40 am – 12:20 pm	Analyst Bias and Mispricing, Mark Grinblatt, University of California, Los Angeles, Gergana Jostova, George Washington University, Alexander Philipov, George Mason University Presenter: Gergana Jostova Discussant: Mitch Warachka, University of San Diego
Lunch:12:20 pm – 1:30 pm	Keynote Speech: “The Propagation of Shocks Across International Equity Markets: A Microstructure Perspective,” Richard Roll, Linde Institute Professor of Finance, California Institute of Technology Introduction by David Hirshleifer, University of California Irvine Location: Shalala Student Center, University of Miami
Afternoon Session Chair: Henrik Cronqvist, University of Miami
1:30 pm – 2:10 pm	Growing Up Without Finance, James R. Brown, Iowa State University, Anthony Cookson, University of Colorado at Boulder, Rawley Z. Heimer, Federal Reserve Bank of Cleveland Presenter: Anthony Cookson Discussant: Ville Rantala, University of Miami
2:10 pm – 2:50 pm	Noncognitive Abilities and Financial Distress, Gianpaolo Parise, Bank for International Settlements, Kim Peijnenburg, HEC Paris Presenter: Kim Peijnenburg Discussant: Annette Vissing-Jorgensen, University of California at Berkeley
2:50 pm – 3:10 pm	Coffee Break
3:10 pm – 3:50 pm	The Speed of Communication, Shiyang Huang, University of Hong Kong, Byoung-Hyoun Hwang, Cornell University and Korea University, Dong Lou, London School of Economics Presenter: Shiyang Huang Discussant: Justin Birru, Ohio State University
3:50 pm – 4:40 pm	Ph.D. Student Papers Gender Identity Norms and Intra-Household Financial Decision-Making, Da Ke, University of Miami Discussant: Vicki Bogan, Cornell University Law of Small Numbers in a Lucas Orchard, Alberto Teguia, Rice University Discussant: Alex Chinco, University of Illinois at Urbana-Champaign
5:30 pm – 8:30 pm	Dinner Cruise: Miamarina at Bayside
Friday, December 9, 2016
8:30 am – 9:00 am	Continental Breakfast: Shalala Student Center, University of Miami
Morning Session Chair: Stefanos Delikouras, University of Miami
9:00 am – 9:40 am	Speculative Dynamics of Prices and Volume, Anthony A. DeFusco, Northwestern University, Charles G. Nathanson, Northwestern University, Eric Zwick, University of Chicago Presenter: Charles G. Nathanson Discussant: Stijn Van Nieuwerburgh, New York University
9:40 am – 10:20 am	Bubbles and Trading Frenzies: Evidence from the Art Market, Julien Penasse, University of Luxembourg, Luc Renneboog, Tilburg University Presenter: Julien Penasse Discussant: Richard Taffler, University of Warwick
10:20 am – 10:40 am	Coffee Break
10:40 am – 11:20 am	Evidence about Bubble Mechanisms: Precipitating Event, Feedback Trading, and Social Contagion, Neil D. Pearson, University of Illinois at Urbana-Champaign, Zhishu Yang, Tsinghua University, Qi Zhang, Durham University Presenter: Neil D. Pearson Discussant: David Hirshleifer, University of California Irvine
11:20 am – 12:00 pm	Individual Investor Over-Extrapolation, Aytekin Ertan, London Business School, Stephen A. Karolyi, Carnegie Mellon University, Peter W. Kelly, University of Notre Dame, Robert Stoumbos, Yale University Presenter: Peter W. Kelly Discussant: Huseyin Gulen, Purdue University
12:00 pm – 1:10 pm	Lunch: Shalala Student Center, University of Miami

Registration

The registration fee is $350 and the registration form is available at the conference website (http://bus.miami.edu/umbfc/). Please register before November 30, 2016.

Additional Information

For additional information about the conference, please email umbfc@miami.edu. You can also contact the conference organizer, George Korniotis, at gkorniotis@miami.edu or the conference fellow, William Bazley, at wbazley@bus.miami.edu.