RCFS/RAPS Conference

Feb 14-16, 2020
Atlantis, Nassau, The Bahamas





The Society for Financial Studies is hosting the third annual Review of Corporate Finance Studies/Review of Asset Pricing Studies (RCFS/RAPS) Winter Conference at Nassau in the Bahamas from February 14 to 16, 2020. This will be a high-quality conference with a limited number of papers and parallel sessions for corporate finance and asset pricing. Our aim is to bring together a select group of top-quality researchers to present and discuss cutting-edge papers in corporate finance and asset pricing.

For more details about the conference, see the Call for Papers.

Questions? Please contact manager@sfs.org.

The submission period ended November 18, 2019. The submission fee was $50. Manuscripts were not required to be anonymous.
Conference decisions have been sent. Dual submission decisions will be sent in January.
-The conference starts with a reception on Friday, February 14, in the evening, and ends with lunch on Sunday, February 16.

-Participants are expected to attend all sessions.

-The registration fee for the conference is $250. There will be a conference dinner on Saturday (February 15). The registration fee will be reduced by $75 if the participant decides not to attend the conference dinner. There will be an additional charge of $50 for significant others.

-There are three registration options:

-General registration $250: Includes access to all conference events, including the Saturday night conference dinner.

-General Registration Plus Guest $300: Includes access to all conference events and a “plus one” for the Saturday night conference dinner.

-Registration without dinner $175: Includes access to all conference events EXCEPT Saturday night dinner.

-There are spaces available for attendees who are not presenting papers.

-Fees are nonrefundable.
-You can use the following link to book your hotel room: https://book.passkey.com/e/49986151.

-Guaranteed room rates for FEB 13, 2020 - FEB 16, 2020, under "RAPS-RCFS Winter Conference.”

-There are multiple hotels in Atlantis. The conference venue is closest to the “Coral Atlantis,” for which we have the best rate of $169 plus taxes and fees for the standard room ("run of house").

-Participants can also choose to book an upgraded room in Coral Atlantis or at Royal Atlantis at a higher rate using the same link.

-Deadline for the guaranteed rate is January 14th, 2020, so we encourage everyone to book asap.

The RCFS/RAPS Winter Conference features a dual submission option to RCFS or RAPS. ConfTool will require you to indicate whether you want to be considered for dual submission. If you select dual submission, your paper will be considered by whichever journal you select. In some cases, the editors may suggest your paper to the other journal if they feel it may be a good fit. Please read our dual submission policy.
RCFS will have a “New and Interesting Facts” session at the conference, with papers that contain one main finding or highlight a stylized fact of interest. We encourage authors to submit such papers to the conference. If you would like your paper to be considered for this session, please ensure you select the New & Interesting Facts option. Note: this option is only available to the RCFS sessions.


Tentative Program of the Conference: RAPS

Disagreement after News: Gradual Information Diffusion or Differences of Opinion?
Anastassia Fedyk
Discussant: Ing-Haw Cheng (Dartmouth)

More informative disclosures, less informative prices? Portfolio and price formation around quarter-ends
Todd Gormley, Zachary Kaplan, Aadhaar Verma
Discussant Vincent Bogousslavsky (BC)

Don’t Take Their Word For It: The Misclassification of Bond Mutual Funds
Huaizhi Chen, Lauren Cohen, Umit Gurun, Huaizhi Chen
Discussant: Sam Hartzmark (Chicago Booth)

Skill and Value Creation in the Mutual Fund Industry
Laurent Barras, Patrick Gagliardini, Olivier Scaillet
Discussant: Mila Getmansky (UMass Amherst)
A New Perspective on the Price & Amount of Consumption risk: Implications on Asset Dynamics
Redouane Elkamhi, Chanik Jo
Discussant: Winston Dou (Wharton)

Risks to Human Capital
Mehran Ebrahimian, Jessica Wachter
Discussant: Daniel Neuhann (UT Austin)

Public Debt and the Slope of the Term Structure
Thien Tung Nguyen
Discussant: Nancy Xu (BC)

The Geography of Beliefs
Harjoat Bhamra, Raman Uppal, Johan Walden
Discussant: Michaela Pagel (Columbia)
The Utilization Premium
Fotis Grigoris, Gill Segal
Discusant: Miao Ben Zhang (USC)

Duration-Driven Returns
Niels Gormsen, Eben Lazarus
Discussant: Serhyi Kozak (UMD)

Common Risk Factors in Cryptocurrency
Yukun Liu, Aleh Tsyvinski, Xi Wu
Discussant: Nina Karnaukh (OSU)

One anomaly to explain them all
Terry Zhang, Jack Favilukis
Discussant: Alex Chinco (UIUC)

Tentative Program of the Conference: RCFS

Breakfast: 6:45 a.m. to 7:30 a.m.

Session 1: 7:30 a.m. to 9:10 a.m.

1. “Do Firms Hedge During Distress,” by Heitor Almeida, Kristine Hankins, and Ryan Williams
Discussant: Shan Ge

2. “Reducing Barriers to Enrollment in Federal Student Loan Repayment Plans,” by Holger Mueller and Constantine Yannelis
Discussant: Michaela Pagel

Break: 9:10 a.m. to 9:30 a.m.

Session 2: 9:30 a.m. to 11:10 a.m.

1. “Trading and Shareholder Voting,” by Doron Levit, Nadya Malenko, and Ernst Maug
Discussant: Jonathan Cohn

2. “Monitoring with Career Concerns,” by Martin Szydlowski and Ivan Marinovic
Discussant: Dmitry Orlov

Lunch: 11:25 a.m.
Session 3: 4:00 p.m. to 5:40 p.m.

1. “Gig-Labor: Trading Safety Nets for Steering Wheels,” by Slava Fos, Ankit Kalda, and Jordan Nickerson
Discussant: Kim Peijnenburg

2. “Mobility Constraints and Labor Market Outcomes: Evidence from Credit Lotteries,” by Janis Skrastins, Bernardus van Doornik, Armando Gomes, and David Schoenherr

Break: 5:40 p.m. to 6:00 p.m.

Session 4: 6:00 p.m. to 8:05 p.m
New and Interesting Facts Session (no discussants)

1. “The Decline of Secured Debt,” by Effi Benmelech, Nitish Kumar, and Raghuram Rajan

2. “Management (of) Proposals,” by Ilona Babenko, Goeun Choi, and Rik Sen.

3. “Big Fish in Small Ponds: Human Capital Mobility and the Rise of Boutique Banks,” by Janet Gao, Wenyu Wang, and Xiaoyun Yu

4. “Does Size Matter? Evidence from Changes in Small Business Size Standards,” by Ran Duchin, Matthew Denes, and John Hackney

5. “The Costs and Benefits of Shareholder Democracy,” by Nickolay Gantchev and Mariassunta Giannetti

Dinner: 8:15 p.m.
Breakfast: 6:45 a.m. to 7:30 a.m.

Session 5: 7:30 a.m. to 9:10 a.m.

1. “Bank Heterogeneity and Financial Stability,” by Itay Goldstein, Alexandr Kopytov, Lin Shen, and Haotian Xiang
Discussant: Cecilia Parlatore

2. “Debt versus Equity in Liquidity Provision,” by Yiming Ma, Kairong Xiao, and Yao Zeng
Discussant: Greg Buchak

Break: 9:10 a.m. to 9:30 a.m.

Session 6: 9:30 a.m. to 11:10 a.m.

3. “Dream Chasers: House Price Booms and the Misallocation of Human Capital,” by Taylor Begley, Peter Haslag, and Daniel Weagley
Discussant: Zahi Ben-David

4. “Bank Entrepreneurs,” by Kristoph Kleiner, Manju Puri, and Chiwon Yom
Discussant: Claudia Robles-Garcia

Lunch: 11:25 a.m.




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