Third Miami Behavioral Finance Conference
December 13-15, 2012
School of Business Administration, University of Miami
Coral Gables, Florida 33124, USA
http://bus.miami.edu/umbfc/

Keynote Speaker: Andrei Shleifer, Harvard University.
Program Committee Chair: Campbell Harvey, Duke University and University of Miami
Organizer: Alok Kumar, University of Miami

Thursday, December 13, 2012

6:30 pm – 8:30 pm
Welcome Reception: Southwest Terrace, Biltmore Hotel

Friday, December 14, 2012

8:15 am – 8:45 am
Continental Breakfast: Outside Storer Auditorium, School of Business Administration

8:45 am – 9:00 am
Welcome Remarks: Eugene Anderson, Dean, School of Business Administration 
Conference Program Overview: Campbell Harvey, Program Committee Chair

9:00 am – 9:40 am
Asymmetric Learning From Financial Information, Camelia Kuhnen, Northwestern University.
Discussant: Clifton Green, Emory University.

9:40 am – 10:20 am
No News is News: Do Markets Underreact to Nothing? Stefano Giglio, University of Chicago, and Kelly Shue, University of Chicago.
Discussant: Charles Lee, Stanford University.

10:20 am – 10:50 am
Coffee Break

10:50 am – 11:30 am
Sparse Dynamic Programming and Aggregate Fluctuations, Xavier Gabaix, New York University.
Discussant: Ali Lazrak, University of British Columbia.

11:30 am – 12:10 pm
Learning Whether Other Traders are Informed, Snehal Banerjee, Northwestern University, and Brett Green, University of California at Berkeley.
Discussant: Bradyn Breon-Drish, Stanford University.

12:10 pm – 2:00 pm
Lunch, Executive Dining Room, School of Business Administration  

2:00 pm – 2:40 pm
Political Climate and Predictable Returns, Jawad Addoum and Alok Kumar, University of Miami.
Discussant: Lenny Kostovetsky, University of Rochester.

2:40 pm – 3:20 pm
Comomentum: Inferring Aribitrage Capital From Return Correlations, Dong Lou and Christopher Polk, London School of Economics.
Discussant: Clemens Sialm, University of Texas at Austin.

3:20 pm – 3:50 pm
Coffee Break

3:50 pm – 4:30 pm
Neighborhood Effects on Speculative Behavior, Todd Mitton, Brigham Young University, Keith Vorkink, Brigham Young University, and Ian Wright, Stanford University.
Discussant: Zoran Ivkovich, Michigan State University.  

6:30 pm – 9:30 pm
Reception and Dinner: Danielson Gallery, Biltmore Hotel

Saturday, December 15, 2012

8:30 am – 9:00 am
Continental Breakfast: Outside Storer Auditorium, School of Business Administration

9:00 am – 10:20 am
Keynote Speech: Money Doctors, Andrei Shleifer, Harvard University.

10:20 am – 10:50 am
Coffee Break

10:50 am – 11:20 am
Social Norms and Individual Borrowing Decisions, Christo Pirinsky, George Washington University.
Discussant: Enrichetta Ravina, Columbia University.

11:20 am – 12:10 am
Financing From Family and Friends, Samuel Lee, New York University, and Petra Persson, Columbia University.
Discussant: Uday Rajan, University of Michigan.

12:10 pm – 1:30 pm
Lunch, Outside Storer Auditorium, School of Business Administration

1:30 pm – 2:10 pm
The Concentration of Cash: Cash Policies of the Richest Firms, Amy Dittmar, University of Michigan, and Ran Duchin, University of Washington.
Discussant: Geoff Tate, University of North Carolina at Chapel Hill.

2:10 pm – 2:50 pm
Winners in the Spotlight: Media Coverage of Fund Holdings as a Driver of Flows, David Solomon, University of Southern California, Eugene Soltes, Harvard University, and Denis Sosyura, University of Michigan.
Discussant: Eric Zitzewitz, Dartmouth College.

2:50 pm – 3:20 pm
Coffee Break

3:20 pm – 4:00 pm
Gradual Information Diffusion in the Stock Market: Evidence From U.S. Multinational Firms, Xing Huang, University of California at Berkeley.
Discussant: David Ng, Cornell University.

• Click here to view the 2011 UM Behavioral Finance Conference Program.