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AFA 2009 San Francisco Meetings (Archive)

Please Note: Some AFA program papers are not available, at their authors' requests.

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Viewing: 1 - 50 of 143 papers

1.

The Cross-section of Managerial Ability, Incentives, and Risk Preferences

EFA 2008 Athens Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 88 Posted: 23 Mar 2009 Last Revised: 17 Oct 2012
Working Paper Series
University of Chicago - Booth School of Business
Downloads 2,360
2.

Cross-Sectional Stock Option Pricing and Factor Models of Returns

EFA 2008 Athens Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 46 Posted: 23 Dec 2008 Last Revised: 04 Jan 2009
Working Paper Series
Morgan Stanley, Carnegie Mellon University and Carnegie Mellon University - David A. Tepper School of Business
Downloads 655
3.

AFA/ASE Panel: Implications of the Credit Crisis for the Regulation of Non-Bank Financial Firms

AFA 2009 San Francisco Meetings Paper, Rock Center for Corporate Governance Working Paper No. 40
Number of pages: 1 Posted: 26 Aug 2008 Last Revised: 29 Sep 2009
Working Paper Series
Stanford University - Graduate School of Business, Boston College - Department of Finance, PIMCO Europe Ltd. and Azimuth Alternative Assets Management LLLP
Downloads 512
4.

Are All Inside Directors the Same? Evidence from the External Directorship Market.

Journal of Finance, Forthcoming, ECGI - Finance Working Paper No. 241/2009, 3rd Annual Conference on Empirical Legal Studies Papers, AFA 2009 San Francisco Meetings Paper
Number of pages: 90 Posted: 22 Apr 2008 Last Revised: 04 Sep 2012
Accepted Paper Series
University of New South Wales - Australian School of Business and University of Alabama - Culverhouse College of Business Administration
Downloads 1,595
5.

Corporate Governance and Capital Structure Dynamics

AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 27 Mar 2008 Last Revised: 25 Dec 2010
Working Paper Series
Ecole Polytechnique Fédérale de Lausanne, University of Lausanne and University of Lausanne

Multiple version iconThere are 2 versions of this paper

Downloads 2,612
6.

What Segments Equity Markets?

Netspar Discussion Paper No. 02/2011-031, AFA 2009 San Francisco Meetings Paper, National Bank of Poland Working Paper No. 76
Number of pages: 61 Posted: 27 Mar 2008 Last Revised: 19 Sep 2012
Working Paper Series
Columbia Business School - Finance and Economics, Duke University - Fuqua School of Business, University of North Carolina Kenan-Flagler Business School and University of Washington - Michael G. Foster School of Business

Multiple version iconThere are 3 versions of this paper

Downloads 2,077
7.

The Impact of Iceberg Orders in Limit Order Books

AFA 2009 San Francisco Meetings Paper
Number of pages: 49 Posted: 27 Mar 2008 Last Revised: 02 Jun 2009
Working Paper Series
Leibniz Universität Hannover and University of Virginia
Downloads 816
8.

The Interim Trading Skills of Institutional Investors

AFA 2009 San Francisco Meetings Paper
Number of pages: 46 Posted: 27 Mar 2008 Last Revised: 10 Jun 2010
Working Paper Series
University of Tennessee, Knoxville and University of Missouri - Columbia

Multiple version iconThere are 2 versions of this paper

Downloads 671
9.

Uncertainty About Average Profitability and the Diversification Discount

Journal of Financial Economics (JFE), Vol. 96, pp. 463-484, 2010, AFA 2009 San Francisco Meetings Paper
Posted: 27 Mar 2008 Last Revised: 19 Oct 2010
Working Paper Series
University of Georgia, Yeshiva University - Syms School of Business and Tulane University - A.B. Freeman School of Business
10.

When Active Fund Managers Deviate from Their Peers: Implications for Fund Performance

AFA 2009 San Francisco Meetings Paper , Journal of Banking and Finance, Forthcoming
Number of pages: 62 Posted: 26 Mar 2008 Last Revised: 03 Dec 2012
Accepted Paper Series
Loyola University Chicago - Department of Finance
Downloads 463
11.

What Does Individual Option Volatility Smirk Tell Us About Future Equity Returns?

AFA 2009 San Francisco Meetings Paper
Number of pages: 38 Posted: 26 Mar 2008 Last Revised: 15 Aug 2008
Working Paper Series
Tsinghua University - PBC School of Finance, BlackRock, Inc. and Rice University
Downloads 5,197
12.

Buy High and Sell Low

Number of pages: 42 Posted: 26 Mar 2008 Last Revised: 10 Jan 2011
Working Paper Series
University of Toronto - Joseph L. Rotman School of Management
Downloads 2,157
13.

When Do Firms Default? A Study of the Default Boundary

EFA Moscow Meetings Paper, WFA Keystone Meetings Paper, AFA San Francisco Meetings Paper
Number of pages: 46 Posted: 26 Mar 2008 Last Revised: 06 Nov 2012
Working Paper Series
University of Toronto - Finance Area
Downloads 1,729
14.

Corporate Credit Spreads under Parameter Uncertainty

AFA 2009 San Francisco Meetings Paper
Number of pages: 45 Posted: 26 Mar 2008 Last Revised: 30 Nov 2009
Working Paper Series
University of Southern California - Marshall School of Business and University of Chicago - Booth School of Business
Downloads 1,576
15.

The Shareholder Base and Payout Policy

AFA 2009 San Francisco Meetings Paper, Swiss Finance Institute Research Paper No. 12-11
Number of pages: 62 Posted: 26 Mar 2008 Last Revised: 01 Feb 2014
Working Paper Series
University of Illinois at Chicago and University of Zurich - Department of Banking and Finance
Downloads 658
16.

Risk Allocation and Flexibility in Acquisitions: The Economic Impact of Material-Adverse-Change (MACs) Clauses

AFA 2009 San Francisco Meetings Paper
Number of pages: 61 Posted: 26 Mar 2008 Last Revised: 21 Apr 2009
Working Paper Series
Baylor University
Downloads 614
17.

Why Do Small Stock Acquirers Underperform in the Long-Term?

AFA 2009 San Francisco Meetings Paper
Number of pages: 37 Posted: 26 Mar 2008
Working Paper Series
Ohio State University (OSU) - Department of Finance and Ohio State University (OSU) - Fisher College of Business
Downloads 467
18.

Disclosure and Agency Conflict in Delegated Investment Management: Evidence from Mutual Fund Commission Bundling

AFA 2009 San Francisco Meetings Paper
Number of pages: 48 Posted: 26 Mar 2008 Last Revised: 15 May 2011
Working Paper Series
Virginia Tech, University of Virginia - Darden School of Business and Virginia Polytechnic Institute & State University - Pamplin College of Business
Downloads 458
19.

Investor Expectations, Business Conditions, and the Pricing of Beta-Instability Risk

AFA 2009 San Francisco Meetings Paper, EFA 2007 Ljubljana Meetings Paper, Yale ICF Working Paper
Number of pages: 56 Posted: 25 Mar 2008 Last Revised: 27 Jan 2013
Working Paper Series
Yale School of Management - International Center for Finance, University of Alberta - School of Business and University of Alberta - School of Business
Downloads 1,134
20.

Market Participation and Dividend Clienteles

AFA 2009 San Francisco Meetings Paper
Number of pages: 28 Posted: 25 Mar 2008 Last Revised: 20 Mar 2013
Working Paper Series
Texas A&M
Downloads 191
21.

Weather and Time Series Determinants of Liquidity in a Limit Order Market

AFA 2009 San Francisco Meetings Paper
Number of pages: 37 Posted: 25 Mar 2008 Last Revised: 13 Mar 2013
Working Paper Series
Dartmouth College - Tuck School of Business and HEC Paris - Finance Department
Downloads 426
22.

Risk and Return Characteristics of Venture Capital-Backed Entrepreneurial Companies

Review of Financial Studies, Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 13 Jan 2015
Working Paper Series
University of Southern California - Marshall School of Business and Copenhagen Business School

Multiple version iconThere are 3 versions of this paper

Downloads 1,164
23.

Aggregate Idiosyncratic Volatility

AFA 2009 San Francisco Meetings Paper, EFA 2009 Bergen Meetings Paper
Number of pages: 63 Posted: 25 Mar 2008 Last Revised: 28 Jun 2011
Working Paper Series
Columbia Business School - Finance and Economics, Columbia Business School - Finance and Economics and Tsinghua University - PBC School of Finance

Multiple version iconThere are 3 versions of this paper

Downloads 1,819
24.

Sequential Learning, Predictability, and Optimal Portfolio Returns

Journal of Finance, Forthcoming, AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 04 Apr 2013
Accepted Paper Series
Columbia Business School - Finance and Economics, University of Southern California - Marshall School of Business and University of Chicago - Booth School of Business
Downloads 1,518
25.

Opening the Black Box: Internal Capital Markets and Managerial Power

Journal of Finance 68, 2013, 1577-1631 , EFA 2007 Ljubljana Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 112 Posted: 25 Mar 2008 Last Revised: 30 Jan 2015
Working Paper Series
Ludwig Maximilian University of Munich - Faculty of Business Administration (Munich School of Management), SKEMA Business School and Frankfurt School of Finance & Management gemeinnützige GmbH
Downloads 1,510
26.

Political Connections and Minority-Shareholder Protection: Evidence from Securities-Market Regulation in China

Journal of Financial and Quantitative Analysis (JFQA), Vol. 45, No. 6, pp.1391-1417, 2010, AFA 2009 San Francisco Meetings Paper
Number of pages: 46 Posted: 25 Mar 2008 Last Revised: 01 Mar 2011
Accepted Paper Series
University of Auckland - Business School, Florida Atlantic University and Standard Charter Bank
Downloads 1,184
27.

Lending Relationships and Loan Contract Terms

AFA 2009 San Francisco Meetings Paper, Review of Financial Studies, Forthcoming
Number of pages: 68 Posted: 25 Mar 2008 Last Revised: 29 Feb 2012
Working Paper Series
Arizona State University (ASU) - Finance Department, Georgetown University - Department of Finance, New York University - Leonard N. Stern School of Business and CAFRAL, Reserve Bank of India
Downloads 1,133
28.

Empty Voting and the Efficiency of Corporate Governance

AFA 2009 San Francisco Meetings Paper
Number of pages: 52 Posted: 25 Mar 2008 Last Revised: 27 Mar 2010
Working Paper Series
Duke University - Fuqua School of Business and University of Maryland - Department of Finance
Downloads 1,064
29.

Short Selling Around Seasoned Equity Offerings

AFA 2009 San Francisco Meetings Paper
Number of pages: 61 Posted: 25 Mar 2008 Last Revised: 03 May 2017
Working Paper Series
Miami University and University of Washington - Michael G. Foster School of Business
Downloads 937
30.

Family Control of Firms and Industries

Financial Management, Forthcoming
Number of pages: 60 Posted: 25 Mar 2008 Last Revised: 21 Dec 2011
Working Paper Series
New York University (NYU) - Leonard N. Stern School of Business and The Wharton School UPENN
Downloads 900
31.

Intermediated Investment Management

Journal of Finance, Vol. 66, No. 3, pp. 947-980, 2011, EFA 2007 Ljubljana Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 47 Posted: 25 Mar 2008 Last Revised: 18 Mar 2012
Accepted Paper Series
Vienna University of Economics and Business, University of Oregon - Lundquist College of Business and Vienna University of Economics and Business
Downloads 888
32.

Market Selection

AFA 2009 San Francisco Meetings Paper
Number of pages: 54 Posted: 25 Mar 2008 Last Revised: 16 Nov 2016
Working Paper Series
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Washington

Multiple version iconThere are 3 versions of this paper

Downloads 796
33.

Stochastic House Appreciation and Optimal Mortgage Lending

AFA 2009 San Francisco Meetings Paper
Number of pages: 59 Posted: 25 Mar 2008 Last Revised: 20 Aug 2011
Working Paper Series
Columbia Business School - Finance and Economics and University of Illinois at Urbana-Champaign - Department of Finance
Downloads 714
34.

Is Noise Trading Cancelled Out by Aggregation?

Yale ICF Working Paper No. 08-10, AFA 2009 San Francisco Meetings Paper
Number of pages: 38 Posted: 25 Mar 2008 Last Revised: 08 Feb 2010
Working Paper Series
DePaul University
Downloads 662
35.

Sheltering Corporate Assets from Political Extraction

AFA 2009 San Francisco Meetings Paper
Number of pages: 51 Posted: 25 Mar 2008 Last Revised: 29 Jun 2009
Working Paper Series
Università Cattolica del Sacro Cuore, Milano, Purdue University - Krannert School of Management and Purdue University
Downloads 603
36.

Economic Implications of Nonlinear Pricing Kernels

AFA 2009 San Francisco Meetings Paper
Number of pages: 41 Posted: 25 Mar 2008 Last Revised: 21 Dec 2016
Working Paper Series
Getulio Vargas Foundation and Université de Montréal - CIREQ - Département de sciences économiques
Downloads 581
37.

Liquidity Risk and Syndicate Structure

AFA 2009 San Francisco Meetings Paper, 21st Australasian Finance and Banking Conference 2008 Paper
Number of pages: 47 Posted: 25 Mar 2008
Working Paper Series
Simon Fraser University and Boston College - Department of Finance

Multiple version iconThere are 2 versions of this paper

Downloads 432
38.

Do Banks Price Their Informational Monopoly?

EFA 2007 Ljubljana Meetings Paper, AFA 2009 San Francisco Meetings Paper
Number of pages: 48 Posted: 25 Mar 2008 Last Revised: 29 Mar 2008
Working Paper Series
Federal Reserve Bank of San Francisco and Federal Reserve Bank of New York

Multiple version iconThere are 2 versions of this paper

Downloads 414
39.

Real Investment, Risk and Risk Dynamics

AFA 2009 San Francisco Meetings Paper
Number of pages: 46 Posted: 25 Mar 2008 Last Revised: 12 Jun 2009
Working Paper Series
BI Norwegian Business School and Norwegian Business School
Downloads 366
40.

Reduced-Form Valuation of Callable Corporate Bonds: Theory and Evidence

AFA 2009 San Francisco Meetings Paper
Number of pages: 44 Posted: 25 Mar 2008 Last Revised: 12 Oct 2008
Working Paper Series
Cornell University - Samuel Curtis Johnson Graduate School of Management, University of Michigan - Stephen M. Ross School of Business, Washington State University - Vancouver and SUNY at Buffalo - School of Management

Multiple version iconThere are 2 versions of this paper

Downloads 361
41.

Investment Horizon of the Bond Investor Base and the Leverage of the Firm

AFA 2009 San Francisco Meetings Paper
Number of pages: 54 Posted: 25 Mar 2008 Last Revised: 12 Oct 2010
Working Paper Series
INSEAD - Finance, University of California, Davis - Graduate School of Management and University of Queensland - Business School

Multiple version iconThere are 2 versions of this paper

Downloads 316
42.

Crisis Resolution and Bank Liquidity

AFA 2009 San Francisco Meetings Paper
Number of pages: 50 Posted: 25 Mar 2008 Last Revised: 11 Nov 2010
Working Paper Series
New York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)

Multiple version iconThere are 5 versions of this paper

Downloads 313
43.

Voluntary Disclosures and the Exercise of CEO Stock Options

AFA 2009 San Francisco Meetings Paper
Number of pages: 62 Posted: 25 Mar 2008 Last Revised: 20 Jun 2009
Working Paper Series
Lehigh University - College of Business, Washington University in Saint Louis - Olin School of Business and University of Tennessee, Knoxville
Downloads 311
44.

Shareholders' Say on Pay: Does it Create Value?

AFA 2009 San Francisco Meetings Paper
Number of pages: 58 Posted: 25 Mar 2008 Last Revised: 28 Jul 2011
Working Paper Series
Drexel University and Drexel University - Lebow College of Business

Multiple version iconThere are 3 versions of this paper

Downloads 270
45.

The Role of Options in Long Horizon Portfolio Choice

AFA 2009 San Francisco Meetings Paper
Number of pages: 44 Posted: 25 Mar 2008
Working Paper Series
Fordham University - Gabelli School of Business
Downloads 171
46.

Does Favorable Investor Sentiment Lead to Costly Decisions to Go Public?

Journal of Corporate Finance, Forthcoming
Posted: 25 Mar 2008 Last Revised: 17 Apr 2015
Accepted Paper Series
City University of Hong Kong and University of Oregon - Department of Finance
47.

Are ETFs Replacing Index Mutual Funds?

AFA 2009 San Francisco Meetings Paper
Number of pages: 41 Posted: 24 Mar 2008 Last Revised: 17 Nov 2009
Working Paper Series
University of Texas at Austin - Department of Finance and Bates White, LLC
Downloads 2,913
48.

Do Non-Financial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers

Review of Finance, Forthcoming
Number of pages: 47 Posted: 24 Mar 2008 Last Revised: 28 Sep 2010
Working Paper Series
Fudan University - Fanhai International School of Finance (FISF), Imperial College London - Accounting, Finance, and Macroeconomics and University of British Columbia (UBC) - Sauder School of Business
Downloads 1,173
49.

Does Credit Competition Affect Small-Firm Finance?

Journal of Finance, Forthcoming
Number of pages: 81 Posted: 24 Mar 2008 Last Revised: 28 Jul 2009
Accepted Paper Series
BlackRock, Inc and Boston College - Department of Finance
Downloads 546
50.

CEO Deal-Making Activities and Compensation

AFA 2009 San Francisco Meetings Paper, Journal of Financial Economics (JFE), Forthcoming
Number of pages: 55 Posted: 24 Mar 2008 Last Revised: 24 Dec 2013
Accepted Paper Series
Drexel University - Department of Finance, University of Texas at Austin - Department of Finance and University of Missouri at Columbia - Department of Finance
Downloads 536