Issues in Corporate Finance

Madrid Finance Workshop is a joint initiative of four finance departments of Madrid based academic institutions: IESE Business School (University of Navarra), Instituto de Empresa, Universidad Carlos III and CEMFI-Centro de Estudios Monetarios y Financieros.

The objective of the initiative is to have a one-day research workshop on financial issues every semester. Each workshop is organized about a particular topic and four prominent researchers in the topic are invited to present a paper. Each paper is discussed by another scholar.

Topics analyzed in previous editions include: Asset Management and Hedge Funds, Corporate Governance, Credit risk, and Asset Pricing.

The topic for this upcoming worshop on December 1 is Corporate Finance.

Program

9.30-9.45	Welcome and reception
9.45-11.15	“Stock Option Grants to Target CEOs during Merger Negotiations”  (PDF, 225 Kb) Eliezer M. Fich, Jie Cai, and Anh L. Tran (Drexel University)     Discussant: María Gutierrez, Universidad Carlos III
11.15-11.45	Break
11.45-13.15	“What Drives Corporate Liquidity? An International Survey of Cash Holdings and Lines of Credit”  (PDF, 251 Kb)    Henri Servaes (London Business School) joint with Karl Lins (Utah) and Peter Tufano (Harvard Business School)                                Discussant: Pablo Fernández, IESE Business School
13.30-14.30	Lunch
14.45-16.15	“Globalization and the Provision of Incentives Inside the Firm:The Effect of Foreign Competition”  (PDF, 207 Kb)    Vicente Cuñat, (The London School of Economics) and María Guadalupe (Columbia University)          Discussant: Juan Santaló, Instituto de Empresa
16.15-17.45	“On the Fortunes of Stock Exchanges and Their Reversals: Evidence from Foreign Listings”  (PDF, 519 Kb) Nuno Fernandes (IMD) and Mariassunta Giannet (Stockholm School of Economics)      Discussant: José Marín, IMDEA
17.45-18.00	Break
18.00-19.30	Round Table José Luis Palomo,  Member of  Advisory Board of Gómez-Acebo & Pombo Juan Carlos García Centeno, Country Head of Spain & Portugal, Royal Bank of Scotland Moderator: José Manuel Campa

* After the academic program, participants will enjoy a dinner. It's required to confirm attendance.