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2016 SFS Finance Cavalcade

University of Toronto – Toronto, ON, Canada
May 15-18, 2016

Hosted by the Rotman School of Management at the University of Toronto

This conference is a joint project of the Review of Financial Studies, the Review of Corporate Finance Studies, and the Review of Asset Pricing Studies. The SFS Finance Cavalcade is a 2.5-3.0 day conference covering all areas of finance. The format is 55 minutes per paper with six-to-nine parallel sessions. Our goal is to provide a setting that produces the kind of in-depth participation of a smaller conference while accommodating the variety of papers of a larger one. The host school’s faculty and Ph.D. students receive complimentary registration to the conference and all events.

2016 SFS Finance Cavalcade Program
2016 SFS Finance Cavalcade Program Committee
2016 SFS Finance Cavalcade Photos

Conference Chairs

Chair: Hanno Lustig (Stanford University)
Vice Chair: Heitor Almeida (University of Illinois at Urbana-Champaign)
Associate Chair: Amir Yaron (University of Pennsylvania)
SFS Advisory Chairs: Matthew Spiegel (Yale University), Laura Starks (University of Texas at Austin)

Host’s Faculty Sponsors: Craig Doidge, Peter Christoffersen
Event Organization by Jaclyn Einstein (SFS), Kathleen Coulson (University of Toronto)

Hanno Lustig Heitor Almeida Amir Yaron
Cavalcade Chairs Amir Yaron, Hanno Lustig, and Heitor Almeida

Keynote Speaker

Hanno Lustig (Stanford University)


The 2016 Cavalcade received 977 submissions, which was a 12.8% increase over the number of submissions last year. The acceptance rate was 12.3%. Decision emails were sent February 10. If you selected Dual Submission, you will receive a separate email from RAPS or RCFS. Submissions were accepted through December 7. The submission fee was $50. For papers in which ALL co-authors are doctoral students, the submission fee was waived. Authors of accepted papers must be able to attend their session regardless of which day the session is scheduled. If an author cannot make it to the scheduled time, the conference reserves the right to pull the paper. The submitted paper must not have been accepted (or conditionally accepted) at a journal or have been presented (or be scheduled to be presented) at the WFA or AFA.


$125 for SFS members and $165 for nonmembers; early registration (by March 31) $100 for SFS members and $140 for nonmembers. Paying the nonmember fee gave the registrant a 1-year membership to the SFS. The registration fee was waived for doctoral students and University of Toronto faculty.

New in 2016

AFFECT (Academic Female Finance Committee) hosted a breakfast on Monday, May 16 at 7:30am. AFFECT formed recently to promote gender equality in the finance profession, to facilitate networking among women, to provide mentoring of women, and to conduct research on the standing of women and differences in the career paths of men versus women in finance.  At the breakfast, we plan to discuss issues that may be of particular interest to women who are doing research and teaching in finance, to talk more about what AFFECT is doing, and to conduct a short survey regarding issues related to peoples’ experiences within the academic field of finance.  All are welcome.

Conference Dual Submission Option

You may elect dual submission to either the Review of Corporate Finance Studies or the Review of Asset Pricing Studies. To select dual submission, select Dual RAPS or Dual RCFS under “Category of Submission” in Step 2. If the journal you select decides not to send your paper out for review, the editor may refer your paper to the other journal, if appropriate, or to the Review of Financial Studies, for possible review. Thus, by selecting the dual submission option, you have implicitly agreed to be reviewed by any of the three SFS journals. Please see our Dual Submission Policy.